As economic storm clouds begin to gather, it is Mr. Trump who has the common-sense solution to reduce taxes and let people spend and invest more of their own money.
With Rep. Brian Mast (R-FL), Rep. Mike Waltz (R-FL), Kevin Hassett, Michael Faulkender, Vivek Ramaswamy, Rich Lowry, and Byron York.
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It's time to take the quiz five questions five minutes a day five days a week take the quiz every weekday at the quiz dot Fox and then listen to the quiz podcast to find out how you did play share and of course listen to the quiz at the quiz dot Fox Hello folks, welcome to cudlow. I'm Larry cudlow Economic storm clouds are gathering stocks my stock markets get slammed again Donald Trump wants to slash taxes on social security retirees and The international limbic committee says nothing while a female boxer gets beaten by a fighter who failed the gender test We're gonna talk to florida congressman Mike waltz and brian mast in just a few moments But first up our own Edward Lawrence standing by at the White House with all the latest from today's press briefing Good evening Edward. What's cooking? Yeah, Larry. It's the press. It's the prisoner swap It was a massive undertaking to get this prisoner swap you had planes from the u.s Germany Norway Poland Slovenia as well as Russia all landering landing on the airport tarmac and Ankara Turkey They were all that's where the prisoner swap took place 16 people left Russia going to the u.s And Germany Russia gets eight people who are convicted in the u.s Germany Norway Slovenia and Poland of the people leaving Russia 12 of the German citizens will go back to Germany Three will come to the u.s Now, we know about evan gerskovich and paul whalen the u.s Will also get u.s. Citizen alsu kurma kumisheva as well as one u.s Legal permanent citizen Vladimir kara MRSA who will go back to Germany with his family now president Biden trying to make this a Legacy moment for his presidency saying the u.s. Worked relentlessly to not just free americans, but other political prisoners Now critics say that when you make deals like this it emboldens dictators around the globe to take more americans National Security Advisor Jake Sullivan you push back It is not quite as clear cut that the evidence actually demonstrates the kind of Result that your question speaks to that you know a lot more people get taken because we do these exchanges But it's something that we have to pay attention to and it's something that makes these decisions by the president not simple decisions hard decisions So of the eight russhes that went back one of them Vladimir kara skav a Russian assassin a very bad person He was the linchpin though for Russian president Vladimir Putin to make sure if they got him to get this deal done Larry All right. Thanks very much Edward Lawrence now another big news story today is a complete crack up of the stock market And this happens just 24 hours after fedhead j pal gave forward guidance of an interest rate cut Well our own Jerry will is standing by with those details Jerry lower interest rates supposed to help stocks what happened? It sure didn't do it today stock selling off as fresh economic data Stoked fears of a possible recession the Dow the S&P in the NAS let's take a look at the close the Dow down 495 points the S&P off 75 the NAS sec off 2.3 percent ouch What was it? Well the ISM manufacturing index that's a barometer of factory activity in the US slumping to 46.8 percent for july that's worse than expected and a signal of economic contraction meanwhile initial Unemployment claims jump last week to the highest level since august of 2023 Now today's uncertainty pushed yields on the 10-year treasury below 4 percent for the first time since February traders now see three rate cuts before years end and of course all eyes will be on tomorrow's jobs report Larry All right. Thanks very much Jerry Willis folks economic storm clouds are gathering and that's the subject of tonight's riff So yesterday fedhead j pal issued pretty clear forward guidance that the central bank will start cutting its policy rate in September and additional rate cuts might well occur in November and then December Wall Street has been whining and panting for these rate cuts for about two years So was the stock market do as Jerry Willis just reported it got slammed down Especially the high-tech NASDAQ lost almost three percent of its value But the S&P 500 and the Dow got whacked hard as well. So what is going on here? Well as I've often suggested market bond yields are frequently more important than the Fed's target rate And while the Fed has done nothing yet Most treasury yields are now at about a hundred basis points in recent months In other words markets have been leading the Fed and here's another key point Lower market interest rates are surely a welcome development Yes, indeed, but the history shows that declining interest rates are also a recession indicator and even though GDP has been growing at a sort of semi-stagnant 2% a bunch of other indicators are flashing much bigger warning signs about the economic outlook as Jerry Willis mentioned today for example the reliable manufacturing report from the Institute of Supply Managers registered another deep dive and They've dropped seven out of the last ten months Meanwhile inside the index under the hood new orders Production and employment all registered major declines plus initial unemployment claims now working their way up and hitting nearly 250,000 for the most recent week and don't forget the unemployment rate itself has gone from 4% to 4.1% and may be headed still higher in tomorrow's jobs report Meanwhile consumer sentiment has been consistently poor all manner of housing starts and sales have been in recession territory for a while and Even the mediocre 2% GDP that's been held a lot by huge injections of government spending So is there a recession in the outlook? Well that recession forecast was very wrong in 2023 but at the moment the data suggests a much greater probability in the next 12 months Yes interest rates alike could have fall more But be careful what you wish for because that could foreshadow a big Economic slump which brings me to election politics and policy There's no time to raise taxes Joe Biden and now Kamala Harris have both been talking about enormous Tax hikes totaling as much as four to five trillion dollars that would be sheer folly Now, here's where Donald Trump has another major advantage. He's consistently talked about extending all of the Trump tax cuts launched in 2017 Lately, he has added to that by proposing tax-free tips for millions of waitresses waiters made or D's part-time workers people in the gig economy et cetera et cetera and Just yesterday mr. Trump proposed to end the social security tax on retirees Take a close look at these proposals. They all reduce the tax on work and employment Also, they reduce the tax on business investment and productivity Instead of spending a fortune on government deficits and borrowing Trump is creating incentives to produce and innovate more so as economic storm clouds begin to gather it is mr Trump who has the common sense solution to cut taxes and let people spend and invest more of their own money once again Advantage Trump and that's the riff. All right We're gonna come back to the economic storm clouds in just a little while We've got Kevin has it Michael Faulkner and our friend the dake Rama Swami is gonna visit us a bit later After that, but before we get to all of that We're gonna bring in Congressman Mike Waltz and Brian Mass from the free state of Florida gentlemen. Thank you very very much You guys get look you can talk about any thought thing you want to talk about, but you know, I mentioned mr Trump's tax cuts I just thought yesterday, okay, he went into the lion's den with the convention of black journalists He faced him, you know pretty strong criticism Thank heavens for Harris Faulkner by the way But I thought he came out the winner and the reason I thought he came out the winner I guess I'll start with my pal Brian Mass is because he emphasized border Inflation economy tax cuts those are his emphasis again and again and again Those are his strong suits. That's where the Democrats and administration has done so badly that he kept doing that So I think he went into the lines then and he came out of winter Brian Mass. How did you say it? I'll just say it the same way that you did but in a slightly different way I agree He came out the winner It's because he has this willingness whether it's with a rally or whether it's meet with media or somebody else to essentially go where He's not invited to to go on to the other turf to go bring to the message to the places that need to hear his message And know that he's delivering or going to deliver the right thing for what people need to get the matter of a recession Or to get more money into their pocket or get the dollars lower at the gas pump or in the grocery store He's delivering the message to the right place wins all day long. Yeah, I know Michael Michael wall such an interesting I mean Mr. Trump has demonstrated time and time again strength and toughness. I mean he's got a set of you know what? He's got a there. Let's say we say a strong Backbone. This is a family show the afternoon Kamala Harris was invited, but she's a no-show and I was reading into paper this morning She's not even gonna go into that group until sometime in September. Who knows when if ever she hasn't faced Any tough questions at all Michael wall. How do you read that? Yeah, this is the Biden basement strategy 2.0, right is just You know hide in plain sight not take any questions Certainly not do things like president Trump has in terms of going to south of Bronx going to a African-American church going to Detroit and going to this forum But I do think the country is a bit worse off for it You know that the media loves to hand ring about the partisan divide and why can't we come together and? And and have good tough policy discussions They had no intention of having a good tough policy discussion yesterday That was gotcha journalism and I'm calling on every journalist out there to call balls and strikes on your own colleagues Because the media is contributing to the divide in this country if she really wanted to talk about it She would be talking about the effect of minority opportunity zones on black entrepreneurship She would be talking about historic justice reform as a result of Biden's 1994 crime bill she would talk about Trump only Trump who put in place permanent funding for historically black colleges and universities So I think that those journalists - Harris Faulkner, of course showed their true colors Sadly for the country frankly and sadly for the profession of journalism Well, even so he got his message by the way He did mention the money put into the historically black colleges and he also mentioned the opportunity zones which was really breakthrough stuff and Relying on investment in these minority communities by the way, yes inner city black communities But also, you know poor white rural communities as well. So he didn't get that message across Brian mass mr. Trump is gonna I think testify or meet with the FBI today, which gives me an opportunity to ask you Do you want to tidy up? Do you have any additional questions about these investigations given what we've heard what's happened in the House What's happened in the Senate what's happened in Butler, Pennsylvania, or what hasn't happened Brian. What are you thinking about today? Yeah, I'm happy to weigh in on a truthfully representative waltz being on the Investigating committee for what happened in Butler, Pennsylvania is gonna give you the best answers on that no doubt, but president Trump Targeted unfairly across the board. I was happy to see one of those trials Taken out of play in Fort Pierce floor to the documents trial Thank God that that happened on every bit of congratulations to the the justice that made that take place here in Fort Pierce You know you look at what's going on with Butler, Pennsylvania and again to mr. Waltz here I look forward to hearing answers because every single thing that I've heard has led me to more questions and no answers Mr. Walsh, what are you thinking about now? You've been through this. You've seen what you've seen what's on your mind on these investigations Well for the Secret Service, it's not only the failures that day, but who denied Trump's core protective detail the additional resources Who decided that former president Trump was just like former president Jimmy Carter or W. Bush? Well, he's he's not the same and needed additional resources. They were denied but for the FBI for today Iran Iran Iran We're seeing a series of assassination Attempts and successful campaigns across the Middle East they have active plotting right now as we speak to kill president Trump to interfere With the election the border is wide open the FBI has given warning of a an Iranian operative that came through Venezuela and is recruiting assassins to go after not just Trump but the members of his cabinet you overlay that with the fact that they pulled Robert O'Brien his former national security visors detail what the heck is going on with former with with a Foreign plot to kill former American officials and what the hell is the FBI doing to stop it? Mm-hmm, you know, you mentioned you mentioned the Iranian threats, okay, so Brian mass, let me just come back to that for a moment I'm pretty impressed with Israel and presumably it's Mossad their Secret intelligence service. I don't know if either of you Brian. I'll start with you I don't know if you've read any the Daniel The Gabriel alone books by Daniel Silva it's fabulous about Gabriel alone is the mythical head of the Israeli Mossad And he goes out there's about a dozen books and he goes out and he finds out anti-Israel killers and takes them out It's wonderful stuff. Well as we learn today the Mossad presumably put a bomb inside the house in Iran and then the Hamas guy finally showed up two months later and they nailed him and I remember mr. Trump I believe telling one of the Taliban moles in Afghanistan a while back I've got your phone number and your home address So in other words Israel is saying none of these people are safe. None of these terrorists are safe Not the guy who was nailed in Beirut not the guy who was nailed in Tehran And I think that's pretty cool and I think that's going to be a huge deterrent to Iran I don't think Iran is as tough as they say they are in fact all these terrorists are all a bunch of cowards Brian mass So what do you make of that? I got your phone number and your home address. You might not wake up tomorrow morning What do you think of that? If we have a commander-in-chief in place that executes American redlines then you have a real power at play You have real deterrence what you have in place right now is a Joe Biden administration and a quote general Mackenzie when he was set con commander Joe Biden took Iran off the table literally as a target which equaled Essentially getting aimed in comfort to the enemy no deterrence whatsoever We need American redlines the world need American needs American redlines in order to actually have deterrence and security Yeah, well, I think the Israelis are pretty cool last one mr. Michael Walt's Khalid shake Mohammed Ksm I'm just kind of keys the son of the bitch. All right. He was the mastermind of 9/11 everybody knows that Story running in the New York Post this morning and elsewhere Maybe there's a plea deal that's gonna give him life sentence instead of capital punishment Where do you come out on that Michael Walt should he get capital punishment? There are two others with involved. It's a complicated matter, but maybe not so complicated. What do you think? Well first I just like to point out that Representative mass served in the IDF and I just want to say publicly. Thank you to our Israeli allies for doing All of our dirty work in keeping us all free By taking care of business over there so it doesn't follow us home to the US homeland and we don't have another 9/11 light college shake Mohammed Masterminded at the end of the day the answer is simple and government has typically over Complicated it he should have been dead a long time ago those 9/11 families deserve justice And that's how justice is done with terrorism period Brian massed Ksm capital punishment. Is that your view? Totally agree well stated mr. Walt's yeah, well fellas I appreciate very much mr. Michael waltz mr. Brian massed you're very good to come on the show today We appreciate it. See you soon. All right folks moving right along coming up on cudlow We're gonna get back to these Economic storm clouds. We've got Kevin has it and Michael Faulkinger next up and folks You can catch cudlow money through Friday at 4 p.m. Right here on fabulous Fox business And for some reason you can't catch us at four just DVR the show Send a text message to your favorite nine-year-old and she'll show you how to DVR the show and you'll never Miss a thing. We've got your phone number and your home address. Trust me on that. I'll be right back Great Tony Robbins is here my man. I do great to see you. Congratulations on your show You're that strong you almost pulled me into your orbit. That's how powerful Tony rock off the stool The book is down, but thank you. Thank you for the congratulations I am fascinated by so much of what you are because I am the low-rent version of you And what I mean by that is people get into a taxi and they know they're never gonna see you again Yeah, so they dump all kinds of you know life stories and love habits, but here's the problem. Sometimes you see him again Well, good morning cowboy look who's back in the saddle my question to you the all-knowing Tony Rob You've helped millions of people. Do you ever walk in and look at somebody and be like yeah, I can't help this guy Well, if I did I'd be screwed There have been times though. It's like nothing's working and if I let myself believe it or there's nothing work Then you wouldn't but uh-huh, you know, there's always a way. There's always a way if you're committed Yeah, I guess that's what it is. You've got to lean in and go. Yes, okay, so you got to burn your bridges Burn your boat. She'll take the island. We got to do something here So then my question would become when did this start like when did Tony Robbins? Were you like the go-to for dating advice in sixth grade? Where did this market come from within yourself? It actually started. I was really small in high school I was five foot one. Is that true? Yeah, I'm now six seven. I tell people the difference is personal growth Well, if you should have stayed five foot one, they'd let you host the gut fell show You should have got so tall you'd be on every night at ten, but anyway, but I was obsessed with Trying to improve myself in some way losing weight was the first piece. Okay, and then I figured these tools by reading I was a massive reader. I took a speed reading course. I read like I want to read a book a day I didn't but I read seven hundred books over seven years, but I helped my friends and lit them up You know, they lost weight I got girls and so I got all this love by having answers So I became I want the answers to everything I grew and I developed skills where I could help change somebody who'd been in therapy for years in a few hours And then I started working with people like President United States and Nelson Mandela and Mother Teresa and sports team And it just grew and grew and grew and you know, I've been doing it now for quite some time And this is gonna be my you know, I think it's my 47th year. I'm doing this. I started when I was three of course Well, it's all added up because you went Nelson Mandela. You won presidents. Yes now you're here with a 47-year-old man Who plays video games? I mean the ship has sailed in tone take off the apron honey. We're going out tonight Okay, it's a big deal my job is give people strategies and tools and I do it by modeling I believe success leaves clues if someone is really successful at something for years. Yeah, they're not lucky Yeah, they're doing something different than you figure out what they do do the same thing you speed up your learning curve massively You can convert decades into days perhaps so you like me in the sense that you almost resent the term overnight success Anyone who's an overnight success what it really means is they were working the overnight shift for the last 12 years And now you've actually heard of them all my people used to say to me like how do I ever time start a business say well I said describe what you're doing now Well, I work, you know eight to five nine to five and I said what are you doing from seven to one or seven to two? That's how I built my businesses in the beginning. I have to you got a man It's like you've got to want it But if you say what makes people successful Intelligence is amazingly valuable. I love wickedly smart people. Yeah, but and you're one of those if you're a humor, right? No, so you know you are it's the truth But the reality is there's a lot of smart people can't fight the way out of a paper bag Yes, what really matters is hunger if you got a hunger that won't go away hunger to be more do more give more share more Then you're gonna win over time If you're in Israel, thanks for watching Fox on yes for the latest headlines check out Fox business calm and Fox news calm Nobody the consumer is strong the balance sheets are strong brings you America's business news There's so much going on and what it means for you we want to get some breaking news to you right now Fox business alert like Fox business keeping you ahead of the curve all the insider selling by some of the richest people on Earth with insight Into the impact of u.s. And global markets. That's where the recipe for inflation comes from the people you can trust That's absent problem. Fox business America's business network Economic storm clouds are gathering and Donald Trump says it's time for tax cuts Got that right. Let us keep more of what we are enjoying me now Kevin has it former chair of the council of economic advisors And Michael Faulkinger former assistant treasury secretary now chief economist a FBI gentleman welcome Kevin You know I love the ISM's how many times that I tell you as those data came rolling in you and I were in the La Mays Don't launch and the ISM's they're very reliable and the manufacturing the factory orders of manufacturing ISM look terrible They just keep falling seven out of ten months They basically haven't done anything for a couple of years and other factory orders show the same thing Okay unemployment claims weekly unemployment claims are moving back up towards 250 the unemployment rate has gone from 3.4 to 4.1 Housing has been in a recession for a while and lower interest rates in the marketplace sometimes are coincident to a recession Anyways storm clouds Kevin has it. How do you read it? Yeah, I definitely see storm clouds And you know one of the other things that I've been looking at is just the correlation of the odds that President Trump wins in betting markets And what's going on in markets and when the odds of President Trump winning go up then equities go up Expected inflation goes down real interest rates go up Which means they expect higher growth if he's elected and one of the things that's really rattling markets is that the Future for Donald Trump and betting markets has gone from 70% to about 50% since Joe Biden dropped out And you can really really see the repercussions for that in markets because people are seeing all these socialist Anti-corporate policies might actually happen and that's really been a shock to markets as well. Well, okay I know we have to watch that pay-to-play. It's a little bit fanciful. I mean they move around a lot I mean, you're not wrong, but they move around a lot It's hard to figure that it's like the Fed funds futures market which has been wrong for several years even though we are free market people There's no question about that fucking there. How do you see the economy? I mean GDP is coming in the first half of the year 2.1 percent, you know, it's kind of semi-stagnant But that's been really shouldered and bolstered by all this government spending I mean, I am concerned about these economics store. I can't say there's a recession eminently That forecast was very wrong in 2023 and forecasting brings with it a good deal of humility But I don't basically like what I see. How do you what do you see? What are you telling your kids there at the University of Maryland as you teach them God knows what? Well, Larry, I'm seeing that there's really two parts of the economy going on as you said There's the government-driven part which if you look at the GDP report, that's really where the growth was located It was in government spending. It was in health care services And it was in some of the construction that was coming out of things like the IRA But if you look at the rest of the GDP report It was pretty flat and that's the same thing that we have been seeing in labor markets for a while is that it's again in those industries And that's just reinforced by the ISM report as you said that manufacturing continues to be in recession territory housing has been struggling and so the question really comes down to is there going to be Increased government spending that's going to offset the essentially anemic part of the private sector economy But they're not going to get anything through between now and the election. I mean, that's cooked. That's done. There's no no more I mean, it's bad, but there's a but there is a lot of money built. There's stuff in the tunnel There's a lot of money built up. Yeah, I know I get it I don't know. I think that game may be played out, but who knows you're right. Don't go to any lengths There's no question about it. All right So if you see a slump coming whether it's a recession or a slumper a major slowdown and by the way interest rate markets Not the Fed, but I mean the rest of the interest rate markets when they fall It's kind of a mixed blessing could be coincident to a recession or at least a slump. Anyway, here's mr. Trump giving what I think is a very clever proposal Yesterday Harrisburg PA take a listen fellas Seniors should not pay taxes on social security And they won't they won't no tax on social security By the way Kevin seniors aka me You guys can speak for yourselves. I'm getting there Seniors have already already paid So so all those years I paid so security taxes now they want me to Pay more taxes on my social security benefits and any other monies that I make Okay, which I think is very bad. So what do you make a mr. Trump's proposal? Right, he's noticed something very important, which is that the Biden inflation Has made it so that there's been a big stealth tax increase on retirees Because what they do is they tax your benefit if above 25,000 But the point is just that they don't index that for inflation And so there's been a massive tax increase on seniors in addition to having to pay more for goods at the grocery store And what President Trump is proposing is to roll that back and one of the things Mike and I were emailing about this today Is that if you look at the shortfall in labor supply of the US Which is one of the things that's a real threat to the economy Then a lot of it's seniors who are being over taxed by Social Security And so there's a potential that you could actually really stimulate the economy and help seniors if you cut the Social Security taxes I think that the President Trump is right to talk about that And it's amazing that President Biden and his team have just ignored this stealth tax increase on seniors You know this thing you already paid taxes going in and you're going to get taxed again on the benefits and any other income Fockener, you know look at it's a tax unemployment That's what it is and by the way It's a disincentive to work at all Kevin just suggested and if you re-index it right this thing started in 1983 in the Reagan Social Security deal Which had his pluses and minuses, but they haven't changed the threshold in 40 years it's time to at least at least Index the threshold for inflation which would move it way up again And then the volume of payers taxpayers would go down again. What do you think of that? Yeah, you know Larry the tax rate on on for seniors Re-entering the workforce is as high as 85% because not only is there a tax on Social Security benefits But also if you're simultaneously working they cut the amount of the benefits It's something called an earnings test Yep, and so when you throw the earnings test and then on top of that the tax rate on Social Security benefits Which as you said has not been indexed for inflation you get tax rates as high as 85% and at a time where we don't have enough workers in this country, you know Assuming that we don't enter into a recession Then we have an ongoing labor shortage and where are the reductions and workers coming from as Kevin said It's among the people in their 60s if we can get a lot of them back to working the higher income taxes they pay in the deferral of Benefits that they would be receiving would offset quite a significant portion of this proposed reduction or elimination of the Social Security Tax on on on earnings such that the static cost that many are are out in the media talking about is nowhere near accurate And so we can get that Minimal I think a decent if you just re-index for inflation re-index the thresholds which hasn't been done in over 40 years And then you look at the incentive effect of reducing the employment tax I think it paid for itself or darn near close or darn near close. I mean that's why it's a cool thing Trump's on the right side of this, you know Kevin if you worried about a recession Would you raise taxes or cut taxes? Just simple common sense question. I'm gonna give you the last word on this you Would cut though, but I just want to emphasize what Mike said one more time if you're a senior and you go back to work And you make 20 bucks an hour after the inflation taxes that Biden's charging you your 20 bucks an hour turns into about Three bucks an hour and that's why seniors aren't going back to work And it's really harmed them and what we need to do is have a tax cut for them But also a tax cut for the rest of the economy too if we want to get it back to where you go common sense great wisdom Mike Faulkander Kevin Asa, thank you gentlemen. We got that right coming up folks a very bad story in the olympics a Female boxer just gotten badly beaten by a fighter who failed the gender test We're gonna talk about that with our great friend the dake Rama Swami up next right here on cuddler Weight loss treatments for Alzheimer's inside recent data suggesting the drugs could treat the disease plus phoeing's new CEO Can the new boss steer the company out of turbulence? Jack breaks it all down on Barron's roundtable brought to you by Global X beyond ordinary ETFs My name is Shannon Bream and I'll be out in the field and leading coverage for democracy 2024 It's something I pinch myself about all the time that I actually get to do this It feels like such a privilege We begin with the direction of the country under President Biden But I feel awake with it too to make sure that we get it right and people know that we are there asking the questions they would want answered It gives me a feeling of appreciation brings me back to reality Some say nature heals it just centers you and it can bring you back to you know What is really important in life breathing in the crisp air several thousand feet high hearing the birds chirp Leaves rustled in the wind Feeling like one with the earth It's an experience people crave and escape from our busy lives We had visited this area a couple times before and we just fell in love with it It's why millions of people look at the great Smoky Mountains as a true vacation a Chance to hit the pause button on work or stress the next thing that we need to do here is to put in the kitchen cabinet Yeah, we're waiting for this last one from Brandon and Emma Musto found peace in the Smokies But some more than just a vacation within the mountain ranges of East Tennessee They saw an opportunity. We kind of decided this is a great place to start a business because the weather in the Smokies is really unique It's there's almost like there's not an off season here because the weather is so temperate so even in the winter It's very temperate and unlike other national parks. You can still go hiking and there's still so much you can do and enjoy outdoors What you'd usually consider slower seasons like winter aren't so slow in the Smokies in fact Christmas week is Historically, they're busiest week every year because you can still enjoy almost all the park's wonders Well, it could be below freezing up in Clingman's Dome the tallest peak in the Smokies and Covered in several inches if not feet of snow or ice Down in Gatlinburg, it's usually warmer and more manageable You can still take a hike and immerse yourself in nature without much limitation And we had seen so many of the national parks and they're all beautiful in their own regard. They've all got their pros But the reason we decided to come out here. I think is Again, it mixes all the beauty and all the wonder but with Comfort, you know, so we loved areas like Montana and Wyoming, but we're not we're not snow people We can't handle the extreme cold and so I think this is really it's pretty similar in terms of beautiful mountains and lush forests But the winters aren't so super cold Initially The plan was to come down at the same angle with the help of their family the two decided to take the leap And work on creating what they hope visitors will see as a breath of fresh air. The dream comes from the creative process and The desire to build something cool by cool. They mean it's not your typical cabin in the woods We wanted to stay true to the wooden cabin in the woods feeling But we wanted to add a modern spin to it and we wanted to make it a little bit more elevated a little bit more Luxurious the entire property is called Valhalla cabins And each cabin belongs to one of the Viking gods So the one we're on right now is Thor's cabin One of the reasons we decided to go the a-frame is because they're unique because you don't see them very often and I think that kind of adds to the Feeling of we're going on a vacation. Look at this crazy unique cabin we could stay in [music] Listen to the Fox Business rundown podcast every Monday and Friday where the world of business moves fast Whether you're on Main Street or Wall Street, Fox Business is invested in you go to foxbusinesspodcast.com or wherever you download your favorite podcast America is listening All right in the woke olympics a female boxer gets badly beaten by a fighter who Apparently failed the gender test Complicated matter, but not a happy one joining us now to talk about that some other things are a great friend to bake ramas swami For they welcome back to the show. So this is an intersex fighter who absolutely pummeled this woman And it's not clear. I don't know you tweeted about it. Then you took another look at it We knew she was intersex. What's the meaning of this and and is there too much confusion? You know about biological males in in in female sports. I think that's an even bigger question Sure, I'm in larry and the specifics of this case not withstanding more details are coming out There's a broader question. Do we believe as a country at least in the united states of america Should biological men compete with women in women's sports? I believe the answer to that question is no president trump believes the answer to that question is no And I just think voters deserve the answer from kamala heris Does she believe the answer to that question is yes or no? Are you going to find some fringe cases around the edges of one and a hundred thousand case of someone who's intersex? That's more complicated put that to one side the basic question We've seen it in happening in track competitions in swimming competitions across this country You see at the high school level you see at the college level. It's an issue for the ncwa Where does kamala Harris come down on that question and I think in running in a presidential election Voters deserve to know and if there are real journalists left out there who are willing to ask her hard questions That's a basic question. That's fair game for this presidential election and so far we've heard silence And in fact, uh, mr Trump has said I will keep men out of women's sports He's been very clear about that and I take it that is your view also Yes, it's very simple. I don't think that men should be showing up in women's locker rooms I don't think that men should be competing in women's sports The reality Larry's what's happened is this issue has historically taken the form of is it freedom? It's about lgbt or trans rights or freedoms Here's my view on the matter if you're a grown adult you are free to identify and live your life However, you want as long as you're not harming somebody else But that doesn't give you the right to claim a trophy in a women's sports competition It doesn't give you the right to change our language or the kind of restroom that you use if it infringes on somebody else's rights And so the irony is in the language of protecting against a tyranny of the majority. That's what the left claims What they've actually created is a new tyranny of the minority in this country That's the tyranny that governs and I think that we should acknowledge that and make sure that everybody's actually free Rather than creating this new cultural form of tyranny Well, as we learn more about this particular case in the Olympics boxing, but you know there's no question Ivy league swimming tournaments. I mean you had the university of pennsylvania I don't think there was much that was a biological male in a women's swimming sport breaking all kinds of records And I don't think that should have ever happened and I think it completely discourages women And what happens what where the women's rights people when it comes to that? Yeah Absolutely, there's a couple points here Larry is that irony is that title nine was actually a progressive policy back when it was passed Saying it was important to protect the sanctity of women's sports And yet now what do you have the new progressive argument is eroding the existence of women's sports So this is ironic on a number of levels The very party and the very movement that will celebrate the possibility of the first woman president Also refuses to define what exactly is a woman? So you can't believe in both of these things at the same time I could go on these contradictions for a long time. I'll give you another one the same lgbt movement that said the sex of the person You're attracted to at birth Your attractor is hardwired at birth is now the same one that says your own gender or sex is fluid over the course of your lifetime Those two things can't make sense at the same time So I think we got to apply principles of re of reason logic and actual science Gotta respect people you're free to live your life how you want, but you're not free to hurt somebody else in the process That's what's that issue maybe a little common sense too? Let's go to messaging mr. Trump in the lion's den yesterday with the black journalist convention I want to play some tape on that and get your get your take on this tape here it comes The inflation is absolutely destroying our middle class Our working class and if you just take a look at a lot of things they don't include like interest rates Interest rates went from 2.4 percent to 10 percent and you can't get the money people can't buy houses They no longer have the american dream young people young black people. They don't have the american dream anymore So the thank you heard him. I mean look he went into the lion's den. I thought he came out a big winner On the he was completely on message. I mean he just kept bringing it back Inflation open borders damaging blacks and Hispanic working folks and so forth and so on I mean, I I know he's had to pivot. He's got a new opponent now Um, but the fact is I think he is pivoting. What do you think? So look here's what I think I think it was courageous for president trump running for president of the united states Not the republican party to show up in a room full of people who disagreed with him I'd like to see camaladeris do the same thing that hasn't happened yet. That's actual courage Here's the problem larry. We now live in a system where the media distills what the american people see So most people in the country didn't see what exactly happened in that room They see the media's distillation of it and that media they have bought themselves fake credibility because they went on a tie rat against joe Biden so the credibility they're not claiming is oh we're equal hat we're even handed We went after joe biden. We were critical of him That was with an objective of swapping him out And so that's given an artificial credibility to much of the mainstream media That now was doing nothing other than propping up kamala as the actual favored crown prince or princess for the presidency Now the reality is this here's how we're going to win this race It's not going to be by focusing on any other individual candidate. We're not running against a candidate We never have been we're running against a machine The way we're going to win this election is by focusing on our vision for the future of the united states of america Whether kamala won it by a coup or not. That doesn't matter It's not landing with voters voters don't care about the past voters care about the future and what we're going to deliver for them And what president trump is going to deliver for them as the next president If we focus on that we win this election if we don't we lose this election I frankly believe both for being honest are still possibilities I'm rooting for not just a win but a win by a landslide I believe that is still possible larry if we focus on offering our own vision that something kamala harris isn't doing And it's something that actually is wide open for us to seize as our path to victor I think uh, I think was trump's I think he's basically our message. I mean people always want to nitpick him and pick up stuff and this and that He says what he says, you know, I've known him a long time He says what he says, but his messaging yesterday. I mean it was very brave He wouldn't take no for enhancer. He just kept plowing forward Open borders inflation economy damaging the real wages of uh work and folks of any color for that matter I thought it was really quite interesting. Anyway vidak Ramaswamy. We always love having you and thanks for coming back on the show See soon All right folks coming up. Here's the title hard hitting national review kamala's sociopathic dishonesty on the border From the national review from the editor of the national view my great friend rich larry And we have baira new york thrown in as well all that when kudlow returns The price of the migrant crisis inside the rising cost for taxpayers and what needs to be done to keep american cities afloat sheriff mark dennels has insight on the bottom line World war two images endure like rosy the riveter in the iconic picture of the muscular bandana We celebrate that in you there is nothing we can't do Six million women pressed into service. They were housewives. They were mothers turned war heroes They weren't in the military. They welded in shipyards assembled b-17s and built bombs while american men fought overseas Here 1,800 women are employed and they have to be mechanics war aviation production gets the feminine touch These are the invisible warriors here on the home front on the same day president biden greeted the leader of america's world war two adversary japan at the white house Lawmakers bestowed their highest civilian honor on 24 surviving rosies the congressional gold medal 98 year old may cry of bux county pennsylvania is one of the oldest rosies still living up until 19 41 it was a man's world They didn't know how capable us who haven't where did they? as we might say in brooklyn The rosies got it going on cryer left the capital crowd with sage advice my last thought is Remember these four little words. We can do it And in the case of the rosies not only can they do it, but they did it early On capitol hill chad pergrom fox news For the native people who have lived in these forests since ancient times We are the first best stewards of the land. We are the aboriginals stewards of the land This place is sacred the work we do starts with the ceremony starts with the prayer starts with people coming together in a good way For many tribes taking care of the forest was a way of life Aboriginal fire was something that we Used all the time as a land management tool And now that practice is rekindling in modern forestry. It really is coming back full circle to the aboriginals people have the answers Lomacazzi restoration project is a non-profit that does forest restoration work in southern organ in northern california Forest restoration means coming in and ecologically thinning the forest Crews come in with chainsaws to clear away the thick brush and small trees that have built up over the past century Do the well-intentioned fire suppression techniques forests have grown really dense And with a changing climate we're having what you you call mega fires fires like we've never seen It's a change in tactics from agencies like the us forest service fire hasn't played that role in forest like it used to where it keeps The brush down keeps the small trees away. So we've had that realization and It's really set us up where our main goal is getting rid of those excess fields around communities It's work that takes place now in the late fall and winter before next fire season But if a wildfire starts in the end of august when it's 100 degrees out You really don't have a lot of options. So the there's a lot of work We need to get it done as soon as possible and today It's work being done by a crew made up entirely of native americans Restoring an ancestral klamath village site along the sprig river the earth is our mother It is our sustenance and we need to take care of her as such a people returning to their roots So that we can do more of this good work with work. That's equally good for the forest As it is for the soul Not just restoring the land but restoring the community and healing the people The forest clearing will protect the small town of chilquen from severe wildfires It also provides an opportunity for good paying jobs in an area hit hard by the decline of the timber industry in chilquen, organ max gordon box weather All right, some kamalas Sociopathic dishonesty on the border That's from rich larry editor in chief of the national review Couldn't set it better myself and he joins us now and on top of that if that weren't good enough We have baira nyork chief political correspondent for the washington examiner and a fox news contributor, gentlemen welcome rich larry sociopathic dishonesty And you quoting even better you quote Patton george. She's god or das or das or das She's in other words. She's got a lot of you know what to come out and say a lot of gall to criticize donald trump on the border Yeah, so when we've we've been around the block a couple times larry said nothing really surprised you so much But when I heard her line at that elana rally saying trump Talk to talk on the board, but didn't walk the walk when he brought apprehensions and encounters down almost zero They toured all up as we all know historic levels millions and millions of illegal immigrants into the country Strain resources every big city in america and she's saying she's tougher than donald trump You know where the fact checks where the big headlines kamalas falsely claims to have a good record on illegal immigration She's just getting away with everything and anything at this moment Which is one reason I think she thinks she can maybe make this thing get traction Uh, all right. It's not gonna get I don't know maybe to guess traction. I don't figure to get traction Our new arc i'll ask you if it gets traction, but I want to quote one thing we looked at these numbers So even now, you know the the new biden plan, which was an executive order Which trump said for four years you should have done that and he wouldn't do it then he finally did it But but but but they're channeling people into the key depots Which is cutting back on the numbers, but even the numbers coming out to about 1.5 million a year Here's the deal trump's last three years. We looked at this 2018 2019 2020 Uh illegal input less than a thousand each year in fact a couple of the years It was only 400 and i'm saying less than a million a couple of years was 400,000 I think one year was a little higher than that in other words No, nothing near 10 or 11 million and nothing near a million and a half So once again, if you actually look at the data, I don't know what she's talking about Well, you know one of the things that she and president biden as well Do to claim their alleged toughness on the border is to say that they supported this bill this big bipartisan bill that would Solve our border problems that fell apart this year. So you have to think to yourself She really favored a virtually open border in 2020 2021 22 and 23 and somehow in the election year of 2024 She supported a bill that she said would solve the problem and that republicans Opposed and furthermore president biden who said he had no executive authority to tackle this problem Found that he actually did and it helped and somehow this is happening in the last few months before the election So it's really hard to believe anything About what she says on the border on the traction part. I would say Look at that at lana rally she had Clearly that's a ton of people who were not going to be enthusiastic about joe biden And they are enthusiastic about kamala harris So I think we have to wait for more polling to see how people are are really reacting But that's a real clue right there. Obviously. She's going to excite more democrats more Than biden did. Yeah, well, it was a low bar, but your point is well taken Here's jd vance on the border Coaches county, arizona yesterday. I believe take a listen thos They stopped deportations on day one. They stopped construction of the border wall if people can come into this country And they know they're never going to be deported you effectively have an open border That's what kamala harris promised. That's what kamala harris did and donald trump and i promised to do exactly the opposite So you make inter i case rich and to your your point in the article. I'm just reading this Um, a lot of the illegals have been redirected Into parole programs. That's what I was referring to. They're being channeled into places like san diego and so forth and so on So in a way the numbers are actually bigger than even right so you have illegal crossings which are down because mexico's done more But are still at crisis levels and then a lot of the illegals are just being Londered into superficially legal programs and paroled and released into the united states So it's it's a crisis jd vance is making exactly the right point and they got to hammer it and keep hammering it all the way to election day We've talked about this larry. You'd say this all the time issues based campaign Yes, she's way out there on like 10 or 12 things that she's now tried to shift on this kind of republican campaign You've seen for 40 years Hammer someone has gone too far left and when they disavow it hammer them as a phony and they need to be doing both Yeah, I think that's exactly right. I think good messaging is going to win I think Byron relies too much on these polls. Here's can we just put up um, um, um jd vance has rediscovered supply side Oh, it's too long. All right jd's got him moving to the supply side. He's cutting taxes now. We don't Next time we'll do it rich larry. Thank you very much. Byron. You're appreciated By the Spirit airlines will furlough about 240 pilots and downgrade about 100 captains to save costs some flat attendants are being offered voluntary unpaid leaves of absence Spirit will also temporarily suspend recruiting pilots and flat attendants So it can save on the cost of training spirit ceo says competition among airlines has hit a fever pitch The carrier recently lowered some prices and stopped charging for change and cancellation fees Chocolate lovers are pulling back her she's earnings and revenue missed expectations And the company is lowering expectations for the year sales declined in the quarter Hershey ceo michelle buck says consumers are pulling back on discretionary spending though It is seeing demand pick up for salty snacks Finally mcdonald's is out with a new bigger burger They're calling it the big arch and it includes two beef patties three layers of melting cheese Crispy toppings and a new tangy mcdonald's sauce the fast food chain announced the beef dump burger on their latest earnings call But right now it's only available on three international markets including Portugal and will hit canada and germany this month. That's business. I'm cj papa When lieutenant mark quicks saw car wreck in january the off-duty firefighter and registered nurse rush to help Only to be struck by another vehicle from that point on. Um, I don't remember anything. I just remember waking up in a hospital bed Days later mark had multiple injuries including to his brain and spine those first few days We really weren't sure first if he would make it and then How he would make it his doctor sent him for rehabilitation at atlanta's internationally acclaimed shepherd center the professionalism the bedside manner resistance outstanding And I couldn't be at a better place Other patients have experienced the same including long-time fox news contributor charles krauthammer who received eight months of treatment In a 2018 thank you letter krauthammer writes how you found staff so uniformly skilled Caring competent and energetic is beyond me, but you did it and I congratulate you for it A major expansion is underway to admit up to 350 more patients per year It will bring in the latest technology, but shepherd centers philosophy will remain the same We are a family. We are not a hospital and so this was a facility that was started by a family That wanted to build things from a patient-centered focus first Many of the staff are former patients that idea appeals to mark quick who continues to regain his mobility Throughout patient therapy when he's well enough he wants to first return to the fire department and later work as a nurse I believe that's the purpose of life So while I can I want to be able to help as many people as I can Shepherd center refers to its former patients as graduates like a good school It helps them reach their full potential regardless of the circumstances that brought them here in atlanta johnson siri fox news [music] Fox errors all over the world including in peru So if you live there or are visiting keep watching fox on telephonika and for a list of hotels airing fox visit foxnewshotels.com wing news breaks And we begin with this fox news alert america turns to fox news channel We are feeling the impact all across the country of stream it now in the fox news international app It's the place for top political coverage. It's a very big day here at the white house with must see inside end analysis You won't get anywhere else we will never be the medium op and stay on top of the us markets with fox business Watch your favorite shows live or get them on demand download the fox news international app now from the apple or google play stores Also available on amazon fire Wizard without economic storm clouds and the clouds are out there No taxes on tips stop taxing senior retirees In fact, you don't want to tax hike at all you want to be cutting tax from the fox news podcast network Hey there. It's me kennedy make sure to check out my podcast kennedy saves the world It is five days a week every week download and listen at foxnewspodcast.com or wherever you listen to your favorite podcast
