Investors who were irrationally exuberant only a few weeks ago, are now running for the
hills. Stocks are getting clobbered -- with the Dow down 2,000 points the last 3 trading days.
There may also be some politics to this story, as chameleon Kamala Harris is polling better than Joe Biden was. But, no matter what she says, we know she hates businesses.
With Taylor Riggs, Charles Payne, Rep. Mike Waltz (R-FL), Steve Moore, Steve Forbes, Art Laffer, Tudor Dixon, and Rich Lowry.
Learn more about your ad choices. Visit megaphone.fm/adchoices
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 markets crash and today kind of deep doo-doo for the third straight trading day are we at the front end of a recession well our very own charles pain and taylor riggs are going to help us out in a minute but first up our own hillary bond standing by at the white house with all the latest hey hillary how's your index is doing today you know i've purposely not been looking good trying to be ignorant to what's going on good but here at the white house if you would think that friday's jobs report bad jobs report was a nightmare for the biden harris white house you would be wrong because the biden harris economic team insists that what they're doing is working so they're going to keep doing it is there anything the administration is going to do differently now to work on it i mean you know we it's not a change in course but it is a you know continued commitment to the course that we've been on are we in a recession we're definitely not in a recession but we could be on the brink of a recession economists at Goldman Sachs think that's more likely today than it was before raising the odds of that happening from 15 percent to 25 percent and we tried to ask president biden here at the white house if he is worried about it but he didn't stop to talk the trump campaign says this market meltdown we're seeing now could have been prevented but instead the biden harris economic policies have caused it a lot of their economic policies were predicted even by economists on the left to lead exactly where they are now they went ahead with it because as kamala harris has said she is a radical who didn't listen to common sense and the harris campaign doesn't seem to have any regrets about how they've handled the economy in fact they are drafting some people from biden's white house economic team white house economic advisor jean spurling is moving over to the harris campaign assign that they are not throwing out the bidenomics playbook in fact they're keeping it for another four years larry all right i can't wait for that four more years now let's get the latest on today's major market sell-off our own kelly oh great he is here with some more on that kelly what you got uh read larry unfortunately but look there's a lot of uncertainty a lot of questions regarding are we entering a recession or is this more of a market correction so let's just take a look at where the major index is finished today so you got the down down over a thousand s and p 500 down 160 nastack down 576 this is off session lows but the down really did take more of a turn it came back a little bit but that is uh pretty close to where it was at the lowest point i also want to take a look at big tech here okay again all red you had really invidia is the one to point out here down over six percent but also alphabet close to five percent one line of thought here these names were beneficiaries of big inflows with all the ai hype a lot of the folks i'm talking to they're saying look this sell-off it's more of a correction these valuations they were already too big so we're seeing some profit taking another line of thought is if we are indeed approaching a recession you move away from these type of growth stocks now another area getting clobbered larry crypto okay bitcoin actually fell below 50 000 at one point today over 500 billion in value has been wiped out in the space in the last 24 hours a lot of folks are taking their money out of the riskier assets with this overall volatility zooming out the sell-off isn't just happening in the u.s the global markets are reeling as well the japanese nike closed down over 12 percent that's the worst day that it saw since 1987 um crypto currencies as i mentioned also shedding a bunch the last thing that i want to share with you larry investors are concerned there's a flight uh to say for assets that we're seeing but we did finish off those session lows so it's too early to determine if this recession fear is real larry all right well we will track it thanks kelly oh greaty so folks recession risk rose larger stocks getting clobbered that's the subject of the riff yep recession risk larger stocks getting clobbered investors who were irrationally exuberant just a few weeks ago now running for the hills stocks are getting clobbered with the down down two thousand points in the last three trading days there may also be some politics to this story as chameleon kamala harris polling better than joe biden was well that's a low bar and no matter what she says we do know she hates business the real meat potatoes of the market slam down rising unemployment coupled with falling consumer sentiment and overall recession like weakening of the economy the data are incomplete but without question and nearly one percent point rise in the unemployment rate this year strongly suggests the economy is on the front end of a recession just last month 352 000 people join the unemployment lines and actually over the past year the number of unemployed has risen 1.3 million well the jump to 4.3 percent in the last four months is worrisome for unemployment an even broader measure of labor market weakness the so-called labor impairment rate or the under employment rate it's leapfrog to 7.8 percent that includes part timers who want full-time work plus discouraged workers who left the workforce and that's the soft underbelly of the biden harris labor market meanwhile over the last year biden harris policies have led to half a million more part-time workers and an actual negative half million drop in full time workers plus their catastrophic open border policies have led to an increase of 1.3 million foreign born workers and a 1.2 million decline in native born in other words it's been a far shaker economy that most of the media has ever been willing to admit and let's not forget a recessionary first half of 2022 when real GDP fell two consecutive quarters mostly from inflation stock so much of this can be traced to the affordability crisis where biden harris consumer price index gone up 20 percent over their full term hourly wages have risen only 17 percent in other words for three and a half years plus typical families typical work and folks of all different stripes have suffered a pay cut and what Ronald Reagan used to call take home pay and their taxes have gone up not down it's too expensive for him to live in the biden harris economy and biden harris fiscal policy is spent and borrowed like there's no tomorrow now other recessionary indicators plunging home building and sales even weaker consumer spending continued declines in factory surveys so stock markets hate recessions because recessions drive down profits and profits are the mother's milk of stocks and the lifeblood of the economy as recession fears rise everyone's blaming the fed sure but the fed has been pumping in money ever since the financial meltdown in 2008 and wall street has always loved easy money haven't they and technically investors sentiment way too high that set up the bear market on top of the weak economy and technically the 20 trillion dollar yen carry trade where investors in wall street in tokyo borrowed ultra cheap yen to invest in the so-called magnificent tech stocks well that trade has come to an end so with 92 days before the presidential election the question is who do you trust to pilot the american economy out of the danger zone no matter how many times kamala harris tries to cover up her radical policies she is still a big government socialism who hates business she will continue the biden harris's war on fossil fuels and big government socialism all right it's anti-business no matter how large or small mr trump on the other hand well he's the pro business guy and he understands you can't have employment without employers so if you're worried about an economic or stock market meltdown who are you going to trust me i'm taking the business guy that that's a shocker join me now Taylor riggs goes to the big money show and charles pain host of making money right here on fox business thank you kids um so i got a little bit off my chest good charles what do you what do you think about all this yeah i agree about all of the above yeah right now it's just there's something for everybody here there is something for everybody you know it's um you know you you started off and talking about pal and how j-pow's taking a blame obviously he didn't stoke in inflation right i mean but they have been there's been easy money i think everyone's hoping that j-pow can come to the rescue he's between a rock and a heart place we know he's got almost impossible job but the federal government the fiscal side of this continuing to pump in all kinds of cash that's right yeah you know they're making this job all virtually impossible and the flip the other part of this of all the sell off the most fascinating part is the small caps right in july when president trump had a dominating leadover president Biden small caps went crazy you know there was that one session where we had never seen four standard deviations of the best the most and most any index that ever been above its 50-day moving average in the history of the market going back to 1900 with the down 1928 with the s&p 1971 with the NASDAQ we've never seen an index take off like that and it's giving it all back that right there is a proxy for how at least investors film about a Harris presidency yeah no i think that's fair um teller eggs also look let's face it recessions will breed falling profits uh profits are the mother's milk of stocks i've said it a million times for over 40 years i mean it is the enemy if you can talk about the vet till you're blue in the face and all these business shows and so forth always talk about fed do this fed do that fed do this fed do that trousers right they're between a rock and a hard place what are they going to do you're spending six seven trillion dollars borrowing death finance at the short end it's a crazy the reality is a recession is going to hurt stocks i don't care what the fed does on interest rates they cannot prevent a recession in the next year and i think therein lies the problem and they're within the market i think thursday friday and certainly today we woke up and we always say the market is not the economy but i think today we're finally pricing in what a slowing economy or a recession actually looks like within the markets we've had a huge run up some of these big tech stocks rub 30 40 percent year to date how are we now recalibrating when the data changes and i think with the labor report on friday we're all sitting back and saying okay is this sort of a healthy correction and healthy corrections in the market are good they should happen every 18 months to wipe out extra froth in the market or is this sort of a recessionary idea that's coming and like you said in a recession you will have profits that are slowing or negative maybe you get the negative profit no profit so all of that i think is the market trying to figure out what are we living in what is this yeah well charles i'm gonna argue uh it's been a shaky shakier economy then reported for several years now almost the full term because of the level of consumer prices beating wages that's one point but i think working folks in the middle the typical families right the hard hats people that work with their hands not the folks on wall street not the folks on silicon die i'm not against any of them just saying in a sense what we used to call middle america they've had trouble affording this economy for several years and these chickens are coming home to roost they are coming home to roost and listen you go back to that 1.9 trillion dollar so-called covid relief package right that was it that was the tipping point that was modern monetary theory yes that was his notion that you could just print as much money as possible i mean again i always tell people we've come a long way from a chicken in every pot i mean this was crazy and and what ironically it's benefiting it's going to benefit the top 1 percent look at warm buffers portfolio imagine one of the richest men in the world and all he invested now is treasuries so while he gets to take billions in treasury gains the average person watching this show watch their credit card interest rates go from maybe 15 percent to 23 percent the delinquencies are going through the roof it's only going to get a lot worse so it's it's been one of these things where it boggles my mind when i see anyone in the bottom 80 percent of this economy thinking that they would want to vote for vice president Harris and we have seen a shifting of the guards officially now the Biden presidency has officially ushered in a new democratic party of the elites and college elites in the wealthiest people in this country and and everyone else is suffering mightily i think so i think it's been the soft underbelly for three and a half years you know people forget i mean i don't want to dwell on the past but the reality is the first half of the 2022 inflation shock caused a two-quarter downturn in GDP and then there was a bump i think from the spending that Charles is describing okay but that bump was you know what it is it's not a you were saying a chicken in every pot which i love it's an e-v in every rich pot every rich person well we're out it will pay your college loan oh and while we're at it we'll give you an earned income tax credit that was initially designed for poor working families i mean really we're we're we're along for that one 20 seconds the end carry trade is falling apart right i i i don't want it's too technical but the fact is it's it's what was it with twenty trillion dollars where it just went down the track so when the end is weak it's easy to borrow that to buy the mag seven now of course the yen is strong the japanese currency so you're caught on the wrong side of that trade you have to sell equities to close out i knew that because i worked on the other business so many there are some of the technical things but real big worries too about sort of the global growth if the u.s. sneezes does the rest of the world catch a cold well china think about china uh the front page of the wall street journal today bad consumer spending in the u.s. and china now that could have played a little weeny role on this and you've heard it from every multinational you've heard it from mcdonald saying it's a u.s. consumer but we're also worried about a chinese consumer starbucks saying the same thing right so this is sort of a global consumer that's figuring out how we are now no longer spending what we were a year ago and i just want to i want to conclude the technical part of this show okay but i don't think the fed can drop rates this month next month the month after that is not going to impact the economy in any serious way for at least a year the fed can't bail us out the fed cannot bail out the mistakes of the past the can't they're not going to do it they can bail out the market from the total collapse yes which i hope we don't have frankly but the fed don't look at the fed look at fiscal policy look at the spending and the borrowing look at the middle class suffering i mean the middle class is underwater for three and a half years we've never seen anything like tardper i think you worry when the fed cuts does it reignite inflation because on the fiscal side they're still spending so much and who does that help when the fed cuts it does not help the middle and lower income classes it's just it's a different game uh charles pain teller eggs charles book here catch charles i'm making money one day's it to be on mister and what's the name of the book there come on charles you tell us they didn't put unbreakable investor yeah now i've sold it there i appreciate it i'm sold on radio forever so it's great stuff taylor is um the bottom line is at the name of it host brine big money show big money show god help me brine and friend berg jackie d'Angelo's big money show one p.m. eastern all of it right here on fox business i know you're both working over time i appreciate very very much anything for you learn that con coming up here on cuddler y is joe biden appeasing a ran instead of deterring them it's like uh i got your home phone number and i know what your home address is also that's the best of deterring we have congress and mike waltz to weigh in later in the show we're going to have steve more we're going to have art lacquer and we're going to have steve forb's puzzle over this stock market cracked up and remember you can catch cuddler money through friday at four p.m. right here on fox biz fabulous fox biz that is and if for some reason you can't make it at four just um text your favorite nine-year-old and she will show you how to dbr the show and you will never miss a market so i hate to say it thank you kids appreciate it you i'm bret bair and i'm chief political anchor for fox news and i lead election night coverage this will be my ninth election night behind the anchor desk i took over for brit Hume my mentor and friend and he told me three things he said the show is not about you the show is not about you and elections are important i took away that integrity and being right matters Ian was the one that was bolder at first and Sean was a little shy and now i think that reversed meet Ian and Sean the smisonian national zoos adorably playful andian bear cubs they're out in the morning from about nine to eleven and they're super charismatic to come and watch and the cubs going up the tree it's just a really nice little spot in the zoo they were born in the fall and stayed quietly snuggled up with their doting mother brian for months but now they're allowed to roam and climb trees and even fall but under brian's loving supervision andia bears are very special one of the reasons is they are listed as vulnerable on the iucn red list and there's thought to be maybe less than 18 000 of these guys in the wild the family is an invaluable presence at the zoo because bears are difficult to study in their natural habitats we collect behavioral data on everything they do every day and we can share that information with other zoos you can share it with researchers in the wild and help promote the conservation of these bears and with all of that we have very distinct personalities too they do Sean is always more social than Ian he's at the top of the tree all the time so they're really really sweet bears and we are lucky to have them here we were with lee pitz go for a small but hilarious cub first this is their first box so we'll see how they like it and it has peanuts inside and hay and brian loves both of those things the cubs loved the goodies i love it and brian called dibs on the cardboard box the cub's father keto is just as sweet as they are and just as ready for a snack here he comes uh keto look he's all wet so he was just in the pool so we got a chance to meet keto he is a big beautiful impressive bear but you said he's also one of the sweetest yes keto is 340 pounds and he has the sweetest temperament of almost all of our animals here you like the peanuts too he's everyone's favorite and he's also very genetically valuable he came to us from a zoo in germany and i was fortunate enough to go and pick him up and bring him on the airplane home pitz go says she knows the baby bears are an easy sell to crowd to visit the zoo and she hopes that as they grow young visitors interests in animals will grow as well when i was a kid i loved going to zoos and it inspired me to do what i'm doing now and i hope it does the same thing for kids that come they can learn that there's simple things that they can do to protect these animals so most of us go to work we have some co-workers maybe we feel like some of them are bears when they're having a bad day but you literally are here with animals all day what is it like this is your office yes it's amazing especially this little corner of the zoo it's so peaceful and quiet it's just a lovely place to be at work hello to our friends watching in Costa Rica on cable tika thank you for choosing fox keep it right here wherever you are whenever you want it fox news digital is the world according to fox the top headlines other sites won't touch unmatched coverage you won't get anywhere else and the stories that keep america clicking no one does it like foxnews.com plus download the fox news app to get breaking news alerts and all your favorite shows on the go and if you can't watch listen the will came podcast on fox news podcast i'm red bear i'm dana perino and this is the fox news rundown fox news digital the world according to fox oh the biden ministration now worried about a potential iranian strike on israel fox news peter deucees got the latest from what there's a white house briefing today what they say in peter we would love it if there was a white house briefing today larry there's really no reason that there shouldn't be one with everything going on but there's not so we're kind of just trying to piece things together we know that from what we've been told president biden and vice president harris spent a good amount of the afternoon in the white house situation room getting a briefing from spy chiefs about what iran is believed to be planning this meeting had to wait until what you're looking at right now president biden could get home from delaware where he spent the weekend he's gotten estimated four thousand soldiers sailors and marines repositioned in the middle east to try to help israel and they're just following the ayatollah's lead but we got to make darn sure that we're ready and that we have the capabilities in the region to be able to help israel defend itself and frankly defend our own people our own facilities our own national security entry on a biden call with the king of jordan today the leaders discussed their efforts to de-escalate regional tensions including through an immediate ceasefire and hostage release deal and delaware the president said he's not really sure what's going to happen next do you think iran will stand down do you think iran will stand down sir and he doesn't have anything else on the schedule for the rest of the day on the public schedule but we did just watch as vice president harris's motorcade left the white house campus so we believe that this meeting has wrapped up and she is back to the naval observatory where she can whittle down the vp shortlist larry peter just quickly you may may not know this yet no one may know this but mentioning all the american troops on alert are they thinking about using those troops in any kind of iranian attack i mean is there that thought out there no it seems like anything that these troops would be doing and based on what we know about their training and what they've been doing in the last couple months it would be defensive to help israel fend off or beat back an iranian attack but there's no there's no belief that these guys and gals are being sent there to fight in iran or anything like that all right thanks peter deucey white house long we appreciate it as always joining us now for some commentary on this uh florida congressman mike waltz himself a retired green berry mike thank you very much you know i was just watching that peter deuce's report so but you know can we stop iran he says i don't know i hope so i mean it just has the feeling of appeasement and we're sort of lost in what our policy is and thank goodness for israel but i mean how do you see this right now you know larry uh i'll take everybody back to the schoolyard and uh biden and harris and blinkin and sullivan they're like the kids that got picked on by the bully and their response was to find more lunch money for the bully you know if i give you just my fruit roll up in addition to my lunch money and hey buddy give them your ham sandwich on top of it maybe then the bully will be nice donald trump you got to punch the bully in the mouth you know sometimes you have to escalate to then get the bully to de-escalate and i'll remind everyone harris thought taking out sullimani was a bad idea and going back ten years ago even further biden opposed obama taking out osama bidlan so it shouldn't surprise everyone their reflexive reaction is to find more concessions if we just appease a little better and we appease a little harder maybe everybody will be nice to american its allies and it is so dangerous uh and their bad decisions and bad management and bad judgment i fear in the next 48 hours are going to get even more people killed constant micro ulcer you know you talk about appeasement versus a real deterrent policy i think mr trump and the israelis for that matter the way i put it very simply and and crudely is um to the mollas and all the leaders of iran and hamas and hesbola we've got your phone number and we know your home address and if you take out i mean just like this incredible you know the israel took out the hamas commander i mean in the middle of teran for heaven's sakes i mean it's right out of a spy novel but it's real time and that sends a deterrent message i would think but if nothing else we need that heck they won't even my quads you know this they won't even go back to the total sanctions on iran and stop them from making so much money on salin oil they won't even do that the biden's layer here here's what you walk out of the white house situation room and do what i know president trump would do you unleash american oil and gas you drive down the prices around the world you put both poutin and iran's economy on their backfoot you pass secondary sanctions on chinese buyers brokers and shippers which the house pass has been sitting on schumer's desk now for months uh and you say a single missile drops on and a single israeli head and all hell is going to break loose on you ayatollahs that's not war mongering that's keeping the peace through demonstrated strength but you know the big winner in all of this yes it's ayatollahs but it's really china all of those forces that were once again throwing into the middle east that aircraft carrier was diverted from the pacific these missiles that were using to shoot down fifty thousand dollar drones with five million dollar missiles those are the ones that we need in the pacific and we don't have very many of in the first place so china gets cheap oil and gets to watch the u.s you know chase its tail in the middle east yet again this is not only dangerous now it's dangerous uh it for for the next generation and god help us if we have eight more years of this appeasement strategy with kamala harris yeah i i just can't even wrap my mind around how dangerous that is yeah i get it uh comments in mike waltz thank you sir we appreciate your thoughts and your wisdom very very much talk soon all right folks coming up we gave you the market experts now we're going to talk to the economic philosophers the best of the best on what's going on we have our laughers Steve Moore and as Steve Forbes next up and remember folks kudlow is available as a podcast episodes every weekday right after our show get this we're on spotify and apple and thoughts business podcast dot com and it's a pleasure to podcast i'm kudlow we will be right back the bottom line with diggin and duffy on fox business we view the world the same way i'm sure we'll have some disagreements but you don't want to get her mad no you don't the bottom line with diggin and duffy on fox business invested in you while these canals were built for fpl's plant crocodiles came and made it a home teams here well they've embraced it and they say the rest is history this actually started with the accidental discovery of a nest in 1978 the plant and the canals were built in the 60s biologists michael rek credits the location for the crocs appearance it's prime crocodile habitat and essentially they're attracted to come into our areas thanks to our raised berms which allowed the females to nest away from flooding nesting seasons started in april with hatching ending around august mike anxiously counts the newbies after last year's numbers broke a record with five hundred and sixty five hatchlings last year is going to be tough to be we had the the most hatchlings ever recorded in the history of the program since 1978 mike gets on his airboat surveying the area we can see some of the egg fragment here he shows us where the mom trailed into one of forty pons they dug providing fresh rainwater so here it holds it so it keeps that film that freshwater film so that the hatchling crocodiles have access to fresh water for the first three months until they develop their salt glands and then they're ready to go off and out into the system at night they collect the newborn crocs keeping count these efforts in the home fpl provided led to positive impact the crocodiles population growth led them to be declared by the us fish and wildlife service a threatened species instead of endangered now part of their management program involves processing these five-day old hatchlings so mike is going to go ahead and tag them and then they'll re-release them back into the southern part of their canals measure head length wait then we'll cut the unique scoot clip number after you guys release them what happens when we release them they're on their own and we'll go out four times a year and try to catch them again to monitor how much they've grown how much they've moved and just find out the overall health of the america crocodiles here in the coolant canal systems okay can i release let's do it okay here you go little buddy reporting in homestead florida brandy cambal fox weather in southern alabama the solid waste management company known as mdi has agreed to let our cameras tag along for the day let's hope they don't regret it and we're good to go here just one residential trash collector will empty more than a thousand cans of garbage in a typical day but for driver samantha moten today will be trickier than most mdi is experiencing a company-wide staff shortage with just as much garbage to pick up as ever so collectors like samantha and her partner jerry are working double time to pick up the slack with the driver and tipper shortage might put us a little bit more behind but this trash has to get picked up at all samantha and her colleagues at mdi have just 10 hours to gather 200 tons of refuse and get it all to landfills before they close if they don't come morning they'll face double that workload an impossible amount we come rain or shine you know we don't it's got to get picked up to pull it off they're relying on perhaps the most common kind of garbage truck the rear loader these 15 ton machines are designed to take loose trash and using a hydraulically powered slab of steel known as a blade crush and scrape up to 30 000 pounds of waste into their home today the u.s will create enough trash to fill about 60 000 trucks like these luckily for samantha and jerry they just need to worry about filling the one so this process is pretty simple you just put the garbage can on here and dump the garbage into this hopper and then this is the blade this is the sweet blade they'll bring it down like this to sweep it up into the body of the truck nothing to it listen to the fox business rundown podcast every monday and friday or 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 if you got a big downturn coming stocks you're calling me both who do you trust you trust the business guy or the anti business guy hmm joining us now to talk about that art laugh reform reagan economist steve moor committed only to press very hotline more money on w_a_b_c_ radio and steve forbs uh media chairman and editor in chief fox news contribute anyway kids um our life i want to start with you you're a market guy and a philosopher it's why we like you you can swing both ways who do you trust if this thing is going to collapse i don't know that's going to collapse we're on the front end of a recession and we're on the front end of what looks like it could be a bear market who do you want you want the business person or do you want the anti business person well i don't want the person who brought you to the crash that's what i really don't want leery these people have brought you to the crash with bad policies and you know it happens to be there the anti business people they weren't any good they're no different than hoover in my mind slightly less damaging but the same type of policies and uh they're no good for the economy i'd trust trump every day of the week and twice on sunday for bringing us a good economy steve was why is this crack up cracking up i think it's a realization one a kamala harris could win i don't think she will but there's market has to put that in also japan is in trouble they're way over in debt worse than ours and that market you saw 12% down yesterday realizing and i think that's dragged everything else down and a realization the rest of the world is in poor economic shape and where's the growth prospects coming from where are they coming from that's to come from the u_s_ terms of those in power i i don't see one thing this just pause on this phone the word growth does not enter into the lexicon of mr biden or miss harris you never hear that trump at the convention talked endlessly about growth and growth tax cuts and tax cuts growth and growth i mean he's the only guy on the world stage i think much less the you know the political stage here in the states who talks the language of growth well that's true and also would put in the policies of growth i_e_ cut taxes and this is where the danger comes in if kamala harris got in she doesn't need con congress she's got the regulatory state behind her and they've demonstrated with college debt and the like they'll just go and do what they want heck with the courts with the courts say so we're going to have an avalanche of regulation we won't be able to get rid of the stuff that has been put down our throats now that's going to really bear down in the economy so we're in for a real big downturn if we're down the world is down and so we have to lead the world out of it just as we did in the nineteen eighties with ronald reagan of pro-growth policies and also they got to start paying attention to the federal reserve get over this id you have to depress the economy to conquer inflation no just remove regulations have a stable dollar cut taxes but good things will happen well cut interest rates are not going to be the solution anything that's just that could re-inflate if anything just keep a stable dollar stable dollar steve more uh... you're a long time editorial writer for the wall street journal okay you know it's coming here so today i just want to ask you today our friends they're very good friends of ours okay they come out against trump's idea of reducing the social security benefits tax which could be indexed to inflation it hasn't been in forty years the threshold was twenty five thousand dollars with a bump up to thirty five thousand that has not been changed if you did change that the new basis for inflation today would be eighty thousand dollars okay which would be a nice middle-class tax cut and would reduce the overall tax burden on retirees so they would go out and work and produce now how in the lord's name cannot be bad yeah i like the policy and uh i think that when you look at seniors who let's say are between the ages of sixty three and seventy or even a little bit higher in age uh... you know half of them are still working or collecting or investing and you know we're an aging population so we'd we'd like to see people who want to continue to work uh... stay working that's a good way to stay healthy by the way and the policy today i want to make sure you're of yours understand this because i don't think anybody in washington understands it the average tax rate on somebody who continues to work after the age of sixty three or sixty four who's collecting social security benefits can be fifty or sixty or seventy percent larry those are the highest tax rates of any worker in the american economy we fixed a little bit of the problem under clinton when we got rid of some of the earnings tests but my feeling is this is unfair it is unfair to seniors i think it would be a great policy to you know for those again for those who want to continue to work let's encourage that let's not punish them uh... with these very high taxes so i think the journal got it wrong today be mindful that all of us have already paid the social security tax for the last forty or fifty years and we're being asked to double tax it i mean i'm not i'm not going to mess with the earnings tax at this point in time it's very complicated right the near these the simple look art laugh for you written a whole book on this uh... the simple idea of indexing of inflation indexing a threshold a tax threshold that hasn't been touched in forty years how can that be bad i mean the but the the journal is turned into green ice shades they are completely wrong on this these things would benefit i mean welfare improved safe you know your psychic improve i mean like i don't know um everybody uh no three out of the four of the people in this segment are shall we say senior citizens how's that i got one at least over eighty i got a couple in their 70s and then i got 64 now then i got one high school kid who's only 64 years old okay but Arthur i mean i i i think that and the bigger point i'm making is trumps the business guy i think at this point in time in history we need a business person at the helm that's really what i'm asking art laugher yeah we we do and i wish they i wish he'd chosen steve forbs as is running me to be honest with you steve i love your opening comments you're cooking what we need to do is we need to index tax rates we need to lower tax rates on working output and employment and continue the trump agenda of business first you know what he did on the tax cuts and jobs act as second to nothing in history i mean he cut those tax rates from 35 to 21 he cut the personal income tax we need more and more and more of that what we need to do is bring people off the sidelines back into the labor force we need to get this country growing and going again and in the interim there we need to treat seniors especially people over eighty years old say moi uh we need to treat them really nicely you guys be polite and sweet to me all the time saying yes sir no sir thank you ma'am but all that stuff you know the but we do need to treat seniors correctly and trump knows how to do it he's he is a senior by the way and i don't think Kamala Harris is so there you go i treat a senior 80 is the new 60 years and 80 is true 80 80 is the new 60 or at least we can hope about that but in many ways guys i'm younger than all of you just for the record well you got one high school kid on the segment for heaven six i don't know what to do with him uh steve Forbes though i mean i i don't think it's unfair maybe it is but i said in my opening riff that Kamala Harris is anti-business she i think she hates business i think she'll buy and hates business maybe i'm not hundred percent right but i've seen nothing in their policies over the past three and a half years to suggest that they like business or understand the central role of business in our economy remember our old friend the late great jack kemp used to say democrats love employment they just don't like the employers who create the job that to me is still the the democratic mantra or worse yeah they just take business for granted that somehow everything's right be done it's like you go to the grocery story just assume everything's there you have no idea how it gets there who produces makes it all happen so i have no appreciation for it they just see as a bunch of scoundrels uh to be fleece for their own programs and one of the things the new congress has to do hopefully republican is get rid of these crazy budget rules that prevent the republicans from having real tax cuts and go through the pretzel exercise you had to go through to get the 2017 tax cut through 10 years and eight years and all that kind of stuff and uh scoring that has no real world relevance so we get a good clean tax cut and you'll see as we had in the 60s and the 1980s america being great again and if we're doing great the rest of the world will follow our example just as it did in the 1980s that's a really important point um steve mar uh what why do you think stock market went down so much the last three days you believe it's a recession threat the unemployment rate is pointing towards recession recessions breed profits profits uh are the mothers milk of stocks mean do you buy that i'm not going to say recession because all the economists were wrong i said recession threat recession threat yeah so but i would say this that uh trump tweeted out today we should say uh what's his truth social uh that this was the camel of crash and look i think there is a bit of truth to that larry you know 10 12 days ago uh trump had about a 12 point lead and now it's down to about a one point lead because of this and then something i've never seen before in my 30 years of following politics where they treat camel Harris like she's mother Teresa in the press but i think that you know look it gets your point camel Harris is bad for business she's bad for investors she's bad for the stock market so i think there's a little bit of convulsion there among investors who are getting very nervous about the prospect that this woman actually could be president but i don't think it's going to happen and i'm a little younger than my friend Arthur Laffer because i don't really remember the Herbert Hoover regime oh god i can't think that's right but i know no Arthur was there Joe they say and Nancy Pelosi says Joe Biden should be on Mount Rushmore okay let's let's just let's leave it at that our Laffer you're even giving market advice for a long time in your newsletters in your business what advice would you give right now well right now that just to really answer the question about trump versus Kamala Harris Trump has actually written checks that other people have received right Kamala Harris has only received checks that other people have written she's never been in an entrepreneurial position she's never really relied on markets she's only been on one end of checks and that's receiving government checks not writing checks for employers and employees and right now my view is i think Steve's completely correct i think it's the rise of Kamala Harris that is scared the heck out of people and they're now reassessing the market prospects because of a possibility of a Harris ticket that i think that is really what you're seeing and Steve's right on that all right Steve's right on that well we'll end on that note Steve's right on that we found something Steve Moore thank you art law for Steve for if we appreciate very very much next up folks let me ask again through the political experts if you're going to have an economic crack up who do you trust as your president the business guy or the big government socialist will ask rich larry and tutor dixon when we come back share right on set stick around i'll cut i try to bring a positive perspective people may call that naive but i've got a pretty good track record kovuto coast to coast on fox business invested in you dead birds could soon be taking to the skies researchers at new mexico tech are taking a unique approach to studying wildlife and flight by transforming dead birds into drones the birds are preserved through taxidermy to make them as real as possible the team calculates the flapping frequency angle and the weight of the birds while they were still alive they have their tail they have their wings they have their head the body everything is is there the mechanical birds are not ready yet to try to blend in with a real flock so researchers are running tests inside a drone cage they say this can help them better understand the flight patterns and the formation of migratory birds and these studies can also be used to help improve the aviation industry if you learn how to how these birds they manage the energy between themselves we can apply them into the future aviation industry to save more energy and save more fuel researchers also believe a bird's color has more of a purpose than just camouflaging or attracting mates we've done experiments and determined that for fixed-wing aircraft applying certain color can change the flight efficiency the experiment is raising however privacy concerns with some advocates saying that the drones could be used by the military or law enforcement to spy on people researchers say they will continue to study and develop the bird drones for the next couple of years the current models fly for a maximum of 20 minutes just incredible i'm kevin cork box news here in arizona the most important thing is to find the perfect sunlight and ours just happened to be our front yard nicole hood is very proud of her front yard garden when she says wouldn't be as lush and bountiful without farm yard so for about three seasons i tried to plant on my own with no success and then a friend told me about farm yard and rebecca and troy came over and just kind of gave me some of the fundamentals on how to plant how to water and suddenly everyone in my neighborhood thought i had a green thumb and i'm going to completely take credit for it we are a design build and maintain edible garden company so we build custom raised beds for our clients we make our own compost we do irrigation systems rebecca kiddwell co-owner of farm yard llc says she and her husband who runs a company with her give their clients as little or as much assistance as they want or need their main interest is to show people how to grow their own food so many people come from back east or in the midwest where they're used to dropping a seed into the soil and it immediately taking um and so out here so many people are frustrated with growing because they think that they can do the same in our desert soils that's not the case you can grow fruits and vegetables 12 months out of the year in arizona according to kiddwell she's preparing for spring and summer by planting melons and pumpkins and corn that she says thrive in triple digit weather there's something to getting your hands in the soil grounding getting dirty you know that's kind of fun to do at the end of the day and getting to share i mean having a garden in the front yard we have met so many neighbors we've kind of become a little stop on people's walks i would tell anyone that the opportunity to grow your own food and allow your children to be part of the process is so wonderful talk about getting your kids to eat their vegetables hood says her children are just as excited as she is to harvest the garden and sit down together as a family for a healthy meal they help to grow and eat a roman fox 10 news all right we've got our political experts similar question in an economic crack up who do you trust as president the business guy or the big government socialist and in joining us on set ritz laurie editor-in-chief of the national view and tutor dixon or michigan good senatorial candidate posted the tutor dixon podcast and i'm told on gut felt tonight so she's gonna wear the warm-up for all that uh welcome to both of you so tutor i mean who do you trust do you trust a business guy or the woman i mean i said maybe i'm unfair so the same thing we had all the famous economic philosophers on the last segment i argued in my riff at the opening of the show that they miss harris hates business and i will say this again if i'm wrong i'll apologize but the fact is every policy they've had and everything she's talked about in recent years including her chameleon routine they don't like business okay maybe i should have used the phrase don't like business but they're not for business so this is a business collapse and we need someone that understands that absolutely and it's very hard for the american people to know who's better right now because they know nothing about kamala harris she has been great at concealing who she really is and that's our job to focus on the fact that she is going to crush business with climate policies she's going to crush she's going to come in i mean she's already said she's going to shut down fracking what does that mean for the country it means very bad things we've seen that happen today she's not coming out and saying anything she's essentially the stand-in president we haven't even heard her talk since we've had a a crisis in the stock market when she's going to talk about any of this stuff the only thing i saw was wonderful on friday uh unemployment shot up again and they put out a press release from her campaign not her but from the campaign that donald trump was to blame for the july 2020 for hike and unemployment a little bit of a reach wouldn't you say yeah look this is most extraordinary 14 days in politics this amazing things happen to her all of a sudden she's ascended to a presidential nomination without any fight and we haven't heard one word from her in her own words about it it's extraordinary so the one thing we had was on the tarmac when the hostages were coming home from russia she did a word salad you know one one sentence that made no sense and kind of doubled up upon itself so larry a lot of the polling has changed but going back to your initial question one thing that has not changed trump had a massive lead over by non-the economy that is still true there's cbs poll this weekend had the race tied but who's going to help you more financially 45% said trump 25% said her yeah and i think i think you're right it's a key point the wall street journal poll showed the same thing on immigration economy and inflation he had enormous leaves on all three so those are the three things he should talk about right so twitter right rich larry campaign manager guys got a point i mean stay on message right stay on those key points the honeymoon for kamala the vice presidential pick which i'll ask you in a minute mr trump should just stay on those message he's got a great message on it absolutely because that's what the people in the middle of the country want to hear they're dying right now look at michigan we just had this new change to the minimum wage and now we have all the restaurants concerned they're going to go out of business we have so many workers that are like mr trump please tell us you're going to help us that's what they want to hear tell them you're going to do it he knows he's going to do it he's going to help the people that need to to get through what could be a coming recession he needs to be there for them he needs to focus on that the other things that are going on all of this noise right now it's meaningless to the people who are like i just want to be able to feed my babies every day yeah the business you know position is a middle-class position because he understands businesses create jobs you kill the business off you're going to kill the jobs off rich larry kamala's vice presidential candidate will be josh pyro i think she's would be an idiot not to pick them certainly not an idiot not to pick him or mark kelly she has the advantage trump didn't have of of a couple short listeners who are actually in swing states shapiro if he only helps by ten thousand votes in pennsylvania who knows that could make a difference of ten waltz i don't get at all it strikes me as msnbc's idea of a poksey guy who appeals to the middle of america i don't get that one at all i don't either but that was a great segment thank you very much rich flowery tutor john's fabulous stuff folks i'll be right back with my last word well street in panic mode as recession fears hit investors this after japan's stock index suffered its worst day in nearly 40 years fears of recession stoked by a poor employment report a jobless rate rising to 4.3 percent the tip of the spear is job creation and if we begin to see unemployment go even higher that really discourages spending and you know that's 70 percent of the economy crowd strike hitting back a delta airlines for claiming the days long tech meltdown was due to a faulty update from the cyber security company crowd strike says delta is pushing a quote misleading narrative and the summer job is back teenagers buckling down for some hard work this season and set to make more money than ever before the average hourly wage for new employees aged 15 to 19 15 dollars and 68 cents in june that's up 36 percent from the same figure in 2019 that's actually outpacing the wage growth rate for all workers on private payrolls nationally regardless of age teen employment meanwhile is skyrocketing nearly 40 percent of this age group is employed surging alongside job perks like tuition reimbursement gym memberships and free therapy sessions that's business i'm cj pop so if any american knows who it is konda lee's a rise she was the first woman national security advisor is the first and only black female secretary of state and at one point she was named one of the most powerful women in the world dr rice is used to breaking the glass ceiling and i sat down with her to learn why advocating for women is one of her greatest accomplishments it all goes back to john and angelina rice rice learned the trademarks of leadership from her parents as a black girl living in the segregated south they didn't say it's sad that you have to be twice as good they just said you have to be twice as good they said there are no victims the music major at university of denver found her real passion in soviet studies and became a soviet specialist which took her to the white house and all over the world one of rice's greatest passions was helping women especially those in afghanistan even after us troops left last summer and the taliban took over rice never forgot their plight we have to keep them in the top of our mind we should give no legitimacy to a government that will not educate women while women fight to be educated thousands of miles away parents here at home are fighting to have a say in what their children are taught we have a terrible history we have this birth defect of slavery everybody understands that but uh when it turns to um i'm now going to teach this uh in a way that makes you a nine-year-old feel guilty for what your ancestors many generations removed did do we really want that for our children and as we celebrate the successes of women like konda lea rice her advice to other women is simple find something that you're passionate about and work hard to make sure you're making a difference from that perspective this is fox extra hello and thank you very much to our fans watching in canada on rogers for the latest business headlines check us out online at foxbusiness.com when 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 stream it now on 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 insight and analysis you won't get anywhere else we will never be the media mob and stay on top of the u.s. 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 so this trump knows business and it's businesses that create good paying jobs for people of all stripes and colors this is trump's time that is my view and by the way this is a 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 for you, listen to your favorite podcast.
