Were over our inflation fixation. Of the four measures of inflation, two are below the feds target, one is pretty close, and only one, cpi, is above it. This problem of his polls in the swing states is only going to continue to get worse with over the next several months because voters or are not excited about biden. It is a bad deal for workers, one more example of free money. Nothings free. Most people in my profession think were returning to the bad old days before the financial crisis. To be pushing 30 as a republican, especially republicans called racist all the time, thats quite extraordinary. Lifestyles of the rich and the famous theyre the always complaining stuart i dont recognize the music. [laughter] lifestyles of the rich and famous . If theres a song called that . Youve got to be kidding. Lauren [inaudible] [laughter] stuart good charlotte. Whos good charlotte . Is there a bad charlotte out there . [laughter] were having too much fun. Its 11 00 eastern time, thursday, march the 14th. To the markets. Yeah, its been all over the place this morning. Way up at the beginning, way down after an hour. Now were down 60 on the dow. The nasdaqs up 7, s p down so. So 10. Show me big tech. Theyre all up. Microsoft, ladies and gentlemen, 426 a share. [laughter] retirement time. Okay. 10or year treasury yield up today, look at that, up to 4. 28 . Was it last week it was close to, right at 4 even . Now youre 4. 28 . Lauren cpi, ppi, hotter than expected. Stuart thats right. Up go rates, got it. Now this, ladies and gentlemen. Bernie sanders has revealed his latest socialist dream, move to a 32hour workweek without loss of pay or benefits. He says its time the workers shared the wealth created by productivity gain withs from a. I. And new technology. Bernie has always wanted politicians to legislate wages. Heaven forbid the market should decide. No, no, no, hes a socialist, and he believes business and profit are bad. Despite all the evidence that free market capitalism, small government and low taxes delivers growth, prosperity and freedom. Then theres the wealth tax proposed by the farleft senator, elizabeth warren, and enshrined in the president s 2024 budget. If youre worth more than 100 million, you would pay a 25 tax on your income whether you received the money or not. Thats called confiscation. Biden says this would cut the deficit by 3 trillion a year. No, 3 3 trillion over many years, actually 3 trillion over many years. Lets be clear, this has nothing to do with good policy or sound economics. It is straightforward jealousy of success, and it is politically poe tempt look, if youre financially struggling, its easy to blame the rich. Hey, if youve got 100 million, you dont get much sympathy, so why not just tax them . What the socialists want is to get their hands on the capital that our society has built. They grabbed a very high proif portion of income, so why not go after privatelyaccumulated wealth . They dont care that it doesnt work, they dont care that socialism brings class warfare, division and nogrowth economies. They just detest the rich. Bernie sanders used to rail against millionaires and billionaires. Now its down to just billionaires because he himself is a millionaire. I doubt that a 3 2hour week or a wealth tax will make it onto the books, but the fact that the modern Democrat Party should seriously propose if socialist ideas, that is a sign of how the far left, how the far left has a grip on bidens policies. Outrageous. You with me . If third hour of varney starts right now. Stuart perfect [laughter] i was just discussing my little editorial there with the colleagues on the set here. Lets bring in steve hilton. Does the far left control the Democrat Party . I say yes. What say you . Yes. And, by the way, you have no better guest than me to testify to that [laughter] stuart, because im right here in california. Where the far left have been in control for years and years, and we can see the results. I mean, in many ways california is a laboratory of farleft lunacy where all the policies youve been talking about, the wealth taxes and the endless regulations and raising the minimum wage and all tease things have been put these things have been put into practice, and now we can see the results. Just today new data out on the population are shifts within america. Guess what in four out of the five sayses cities with the biggest decline in population are in california. And four out of the five cities with the biggest growth in population are in florida. Surprise, surprise. If you implement farleft, extremist policies that hurt and punish e people, they run away from it. And if you implement common sense, conservative policies that allow people to thrive and flourish, thats where they want to go. Stuart i want to talk to you about this new idea from california that they may become the first state to charge people for energy based on their income. I guess that means the more you make, the higher the surcharge on your juice bill. The state has until july 1st to impose the new rate structure the. Steve, this is just another way to tax the rich, isnt it . Exactly. Exactly. Its just yet another tax. We already have here in california the highest taxes in the country. By the way, what are we getting for that . The highest poverty rate in the country, the worst schools in the country with the lowest Literacy Rate and on and and on and on. And heres another way they just want to increase taxes, but the really interesting point is why theyre doing this in term of emergency bills, because its a classic example of this dynamic thats going on with the democrats. They implement all these rules and regulations often driven by their climate extremism that that make everything more expensive. So the cost of living goes up, then they panic and say, well, that is really expensive now. Weve got to do something about it. Peoples energy bills are going up, so guess what . If were going to go once again back to the rich and tax them more for their energy bill. But its all a direct consequence of their farleft policies which have increased the cost of energy in the first place. Stuart i think our audience can tell that were both refugees from socialist europe, but well get more stay there for a second, steve. Im going to get back to you in a moment first though, back to the markets. Really a mixed picture, dows down 40, nasdaq is up 2. Lou basenese with us for this hour. You say the bull market has no end in sight. We like to hear that, but you make your case. Yeah, i just dont see it. People are going to accuse me of being a permabull, but bring me up one bear bearish point. The economys sponged well to rapid rise in interest rates, and even though stocks have been up 17 out of 20 weeks or 15 out of 19 weeks, the valuations are not that stretched. Everyone likes to say that the nasdaqs come too far, too fast, but its trading right in line with its 10year average p if e ratio, at 28 times. So we are a far cry away from the dot. Com peak that you keep hearing about. Show me where its weak. Stuart Household Wealth at 154 trillion. Alltime high. Alltime high, record cash on the sidelines that can be put to work with back in stocks, and youre seeing it come into speculative areas of the market. Bitcoin above 70,000, robinhoods recent report showed trading volumes in february for stocks and crypto were up 40, 50 president , so theres a lot of speculating going on, a lot of capital to fuel it, more room to run. Stuart fascinating. Im glad we have you on the show. Great way to start the 11 00 hour. Lou, stay there, please, for the hour. President biden wants to reform marijuana, the marijuana laws or rules, i guess, at the federal level. Roll tape. No one should be jailed for just using, possessing marijuana and the stain on their record. The fact of the matter, that stays on their record the whole time just for smoking marijuana. Now, if youre out selling it, growing it, its a different deal. But if youre just using, it should be wiped off your record. Stuart Vice PresidentKamala Harris will host a round table event tomorrow on Marijuana Reform with rapper fat joe. Come back in again, steve hilton. What do you make of pot becoming a priority at the white house . Well, its all political. By the way [laughter] i dont know what you made of bidens remarks there, just the slurring of the words. Maybe its the usual thing we get from him. Maybe hes been smoke a bit before he made that now. I mean, honestly, you can barely figure out what hes saying. The serious point is that, actually, this is pandering, its political pandering. Thats whats driving it. But its dangerous. Its dangerous to our society. The marijuana strains, as many people have pointed out now, that are in circulation now that people are enjoying are actually far stronger and far more dangerous and disruptive both economically and socially than anything weve seen before. So this is a reckless policy that theyre doing for politics. Its completely outrageous, actually. Stuart steve is, or thank you very much, indeed. Great to have you with us this morning, and well get back to you another day with more time on our hands. Steve hilton, or youre all right. Thank you. Stuart back to the money. A big move today one or particular stock, and it is Dollar General. Its not as bad as a it was, down 5 . Whats the story . Lauren were getting management commentary the after the earnings report, and the good news is traffic rose 4 , but it rose because people are coming in to buy what they need, essentials, including food. The company says consumers are feeling like two plus years of inflation and now theyre cutting back, and some are resorting to stealing. They call it shrink in the industry, and Dollar General says shrink includes 100 basis points in the fourth quarter. Stuart thats a lot. Theyve got a problem and they admit it. Robinhood, shares i think theyre at a 1year high at that level . Lauren yeah, they are. A 6 gain now, and that is an annual high. The asset ises under custody reached 118 billion. Bernstein says buy with robinhood right now on the expectation that their cryptocurrency revenue would grow, according to bernstein, ninefold if by 2025. Stuart that would be a bug increase. Lauren fomo for crypto, bitcoin and ether. Stuart did you just invent that sentence . Lauren oh or yeah, i did. [laughter] ill trademark it later. Stuart lauren, thank you very much, indeed. Some i. C. E. Agents will be forced to wear body cameras. Well tell you where thats leading and where its happening. A former or mommy blogger built a massive following by sharing celebrity gossip. Now shes expanding her reach by covering the rfk jr. And trump campaigns. Shell tell us why she moved away from gossip and into politics. Is there no difference between the two in. [laughter] senator joni ernst says she wants to put an end to bidens secret spending. What what secret spending is she talking about . If senator ernst is here to explain next. I just takes some time, little girl. A little bit of help arrive, everything, everything will be just fine. Everything, everything will be all right trading at schwab is now powered by ameritrade, unlocking the power of thinkorswim, the awardwinning trading platforms. 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Stop jardiance and call your doctor right away if you have symptoms of this infection ketoacidosis, or an allergic reaction. You may have an increased risk for lower limb loss. Call your doctor right away if you have symptoms of infection in your legs or feet. Taking jardiance with a sulfonylurea or insulin may cause low blood sugar. Jardiance is really swell the little pill with a big story to tell theyre waiting for you. Hey, do you have a second . Theyre all expecting more. More efficiency. More benefits. More growth. When you realize you can give your people everything, and more. Thank you very much. [applause] ask, now what . Heres what. You go with prudential to protect, empower and grow. With everything you need to deliver, you guessed it. More. One more thing. Whos your rock . Learn more at prudential. Com stuart in the last year, produce or prices that is, the costs paid by businesses went up 1. 6 . Now, that suggests another uptick in inflation. Edward lawrence at the white house. Edward, you just had an exclusive interview with treasury secretary yellen. What did she say about inflation and Credit Card Debt . Reporter yeah. She says americans can manage the debt that they have at least through this year. Now, having said that, you mentioned we havent seen this Producer Price index level like this since august of 2023. 1. 6 yearoveryear, that puts pressure on inflation when you combine it with a hotter than expected jobs report and or average Hourly Earnings wages, i should say, at 44. 3 president. 4. 3 . So you have higher prices with inflation under biden up 18. 5 , and that forces americans into a record amount of Credit Card Debt. Treasury secretary janet yellen told me yesterday that credit card delinquencies rising represent a normalization and not a more dire sign for the consumer. He says that the debt is manageable while adding that she should choose her words more carefully when talking about inflation. In 2021 though you did say that inflation was transitory. [laughter] do you regret saying that now . I regret saying it was transitory. It has come down, but i think transitory means a few weeks or months to most people. Reporter yeah. Its still too high. The rate of prices rising is coming down when you compare it to the peak of 9. 1 in june of 2022. However, its more than when President Biden came into office and prices are now set at a higher 4re68. The us House Speaker says this is part of the reason that the president polls so poorly on the economy. Americans are fed up with biden and the extreme democrats open borders, high cost of living and [inaudible] america last ageneral da. And it really is extreme, the positions are sometimes surprising to us. Reporter still, the treasury secretary told me the path will be bumpy month to month, and they need more time. Stu . Stuart edward, thank you very much, indeed. Senator joni ernst wants more transparency in government transactions. Senator ernst joins me now. Senator, what is this secret spending were hearing about . Can you give me an example . If. You bet. And we have seen this through the years, but most recently as we are going through and and looking at usa spending. Gov, we notice that there are a of vacancies in system of those line are items. What we have discovered is about 40 billion of spending that will be titled as ota as or other transactions. And this is how our federal agencies are able to spend billions of dollars without actually discuss closing to the American Public what its being spent on. So to answer your question more directly, stuart, i really dont know what that 40 billion has gone to because its titled other transaction agreements. Stuart okay. But if we found out what a these otas really are, other transaction arrangements, etc. , etc. , perhaps we wouldnt be doing that spending. [laughter] have you thought of that . Exactly. [laughter] exactly. And thats why during this sunshine week were trying to shed light on federal government spending, because if they actually did have to disclose that on the usa spending. Gov web site, then the american taxpayer could see that perhaps the spending being done by the Biden Administration is not worth their tax dollars and then speak to their representatives about itment it. So we are pushing this. My bill, again, the stop secret spending act, we want to disclose the way the federal government is actually spending those hardearned dollars that end up in the coffers of the federal government. Stuart inquiring minds want to know. You are challenging senator tom cotton to be the senate gop if conference chair. I believe thats the number three spot in the gop. What is your vision for the future of the Republican Party . If you bet. Well, thanks, stuart. And, actually, maybe senator cotton challenging me stuart ah. This is the number three spot. It is currently vacant. I have served in leadership, ive always a been the outside candidate. Im really proud of that. Ive never been selected by the establishment to run for these positions, but my view of our conference is that we have many different voices within the remoney party. We Republican Party. We need to be able to give all of those voices an opportunity to speak out about their ideas. And im really excited about that. This is the chief communications position. We need to have one team, all of us working together but with our own take and what represents our great states. So its this, this reason i want to bring that to our republican conference, and im really excited about the race. Stuart if you did become the conference chair, would you still come back on this program if your elevated position in the Republican Party . You know, id have to think about it, stuart [laughter] no, i love it. Thanks. I appreciate being able to communicate for all of our great republican members. Stuart one more for you with, if i may. The tiktok bill passed the house, goes to the senate. Im interested in your opinion. Would you rather eban it completely ban it completely or make the company divest its chinese control . What would you prefer . Oh, that is a tough one, stuart. We are hearing from all different sides, but the bill in front of us is to divest. And bottom line, i dont have tiktok, i will not have tiktok on my phones, period. Id rather see it gone completely. I dont think thats going to be an option for us. So lets start by forcing them to divest. I think thats the important step to take right now, to sever those