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tv   Varney Company  FOX Business  April 30, 2024 10:00am-11:00am EDT

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stuart: the boys are back in town. i've been away a few days but they are back in town. good morning. it is 10:00 straight to the money. plenty of red ink. some dow stocks down big contributing to the 200 point loss. caterpillar down accounting for 50 points of the loss, it accounts for 30 points off of the dow's loss. the 10 year treasury yield about 460, up 466 and the 2 years above 5%, that hurts stocks. the price of oil $82 a barrel, bitcoin struggling to stay above 60 grand, 60,600 right now. latest read on consumer confidence may have significant market effect, the consumer confidence number.
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>> lowest since july of 22, that was for april, march's number revised lower to 103.1. confidence retreated to the most level since july of 2,002. less positive about the labor market situation and more about future business conditions. especially for those under the age of 30. stuart: another warning about a slowing economy, gdp is more westerly. that's another warning on top of that. i would have thought the market might have come back a little bit but it is still, the red ink is still there. now this. if you hire someone on the basis of their identity you may score some political points but if the person doesn't work out, how do you fire them? in many cases you can't. fired representative of a group
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and you fire the group. not good politically. two identitys. karine jean-pierre, white house press sector, senior officials are not happy with her performance. there was an organized attempt to get her to step aside. he refused. the only other option is to fire her. the white house is loath to do that. karine jean-pierre is female, black, and gay. that are identity, that is why she was hired. biden is trapped by his vice president kamala harris. he picked her specifically for her identity. black and latino. she' s not been a success. her as border czar, she's disaster and as second-in-command to an aging and declining president she's a national security risk. it reached the point kathleen parker wrote in the washington post of all places, for the country's sake vice president harris should step aside. biden could have taken her off
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the ticket but did not. he can't. the consequences would be severe. he is trapped. biden has put politics, the most diverse cabinet in history. what would be the political advantage. 189 days to the election. second hour of varney just getting started. ben domenech, is it too late to get out of the identity trap? >> it too late and you are right. the disaster of this administration has been so many hires put in place just to check political boxes to appeal to interest groups and the like
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as opposed to assessing the who is best at the job. if you want someone who's good at their job and capable of fulfilling the role for the country that is needed and unfortunately for president biden he has surrounded himself by a jv team who has gotten further ahead based on affirmative action like values and trying to promote people and checkboxes as opposed to getting the right person in the right position and that's why we see the disaster going on today, not just on the border, not just on the economic numbers you were just dimensioning but also in chaotic ways all around the world. even the leadership of someone like tony blinken has to be questioned when it comes to the way he has treated the situation in gaza and these are people who are not qualified for the job, they are loyalists and checkboxes.
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stuart: not good. a group of republican senators wrote a letter to the ceo over npr, political bias at the network. do you think this is the beginning of the end for npr? >> i think the beginning of the end came several years ago when they debated the decision similar to what you were talking about with the motion of a woke agenda over the things they should be doing, and if you look back 15 or 20 years ago npr was pretty consistently higher up on the list of trusted news sources for independent and even right-leaning americans because they were viewed as biased to the left but still pretty fair when it came to their coverage. in the years since then, in the aftermath of the summer of florida and everything else they shifted to the point that almost every segment they have
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is about race, various woke priorities, disaffected groups. it is completely unlistenable and for someone who grew up like me listening to a lot of npr, my parents listened to npr, there were high-quality programs, disappointing to see them degrade to the point that they are not even in the business of doing anything anymore. it ought to be defunded and it can go off and be its own self. stuart: all right. a pretty categorical dismissal. thank you very much, see you again soon. former white house chief of staff ron klain thinks president biden will end up debating donald trump. lauren: they will debate because that's what the president told howard stern but it has to be clearly negotiated with the rnc in the network and the rules need to be and
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forced. >> we have to see something different where the debate commission lost control of the debates, trump didn't follow the rules, talked over his opponents, wasn't a fair division of time. more of a spectacle than a debate. we need to have debates where the candidates get equal time where they can be heard and it's not a shouting match and americans can compare two people who are leading candidates for president. >> the rules are so important which people don't realize that's part of the negotiation. >> sound like a very boring debate and a lot of excuses. they need some rules. they need the format, they need to script president biden, he's up against donald trump. stuart: i don't think they will debate. i don't think that will work either.
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nancy pelosi, got to see this. watch on snap after she was fact checked on donald trump's economy. watch this. >> president biden is doing that, 9 million jobs in his term in office, donald trump has the worst record of job loss of any president so we just have to make sure people know. >> it was a global pandemic. >> he had the worst record of any president. we had other concerns in our country. that may be your role but it's not mine. >> i'm sorry, i'm laughing, i shouldn't but there you go. scott, ms nbc is an apologist for trump, are you kidding me? have it please. >> apparently if you tell the truth you are an apologist, that is what that means but what i love about that, it shows you what you are dealing with because we get frustrated
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in our business finance all the time, what comes out of the fed or the administration and can't believe that's what they are thinking, they want to believe donald trump had the worst record on jobs regardless of the pandemic. or if you want to say is that you are shall for the other side. i've seen it day in and day out when talking about inflation. inflation is coming down so prices are coming down, prices are going up at a slower pace, you are not allowed to say that. the job numbers we are getting, information that most of these jobs are going to legal and forced immigrants, not regular american citizens but you are not allowed to say that. everything is fine, carry on as usual. now you know the mask is off, if they can 't admit something as simple as a global pandemic
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affecting jobs then now at least you know what you're dealing with. stuart: back to the markets for a second. do you think jay powell will support biden before the election by cutting rates? >> i hope not. there's no reason to cut rates. there won't be a reason for the rest of the year. i've not been on that rate cut training. i was early in saying there will not be any rate cuts this year. if you wants to cut interest rates, a time we are seeing inflation go up and help the president, whoever wins that election in january of 25 is going to be handed a real big plate of you know what because that's when the wheels are going to come off. we are going to try to keep this together with duct tape and band-aids to get through november but once that happens, we will come out from behind the curtain and you will see what is there, $35 trillion in debt, trillion dollars in debt every hundred days, very big
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problem, consumers slowing down, inflation taking higher. i wouldn't want that to be my job for $1 million. stuart: an extra trillion dollars of debt every day. always good, thank you, see you again soon. lahren is back looking at the movers and let's start with marathon digital. >> bitcoin sliding after hong kong approved their first ever crypto etf in volume, 11 million came into the 6 different etfs. the crypto closure is down sharply today. stuart: paramount in their love all kinds of things. >> stock is up 3.5. they are parting ways and handing the reins to a committee of executives the in the middle of merger discussions, exclusive talks, guidance on friday. stuart: what is ford motor company's problem? it is down 2%. >> there's 5 levels of assisted driving, fully autonomous, ford
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is at level ii. that means the driver has to pay attention one hundred% of the time and the safety regulators are now investigating three people who died in two fatal crashes using that system so if we have all these instances at level ii, how are we going to get to level v anytime soon? >> it's down $4 a share. coming up the state department says five israeli military units committed gross violations of human rights before the war in gaza began, deciding whether to restrict military assistance to one of those units. we have the story. president biden, a plan that can, quote, significantly reduce border crossings. border agents saw 7000 migrant encounters in a single day at the southern border. congressman darrell ice on the border plan next.
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her uncle's unhappy. i'm sensing an underlying issue. it's t-mobile. it started when we tried to get him under a new plan. but they they unexpectedly unraveled their “price lock” guarantee. which has made him, a bit... unruly. you called yourself the “un-carrier”. you sing about “price lock” on those commercials. “the price lock, the price lock...” so, if you could change the price, change the name! it's not a lock, i know a lock. so how can we undo the damage? we could all unsubscribe and switch to xfinity.
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their connection is unreal. and we could all un-experience this whole session. okay, that's uncalled for.
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stuart: tension running high at columbia university, students, activists occupied hamilton hall. we are waiting to see of the authorities will clear him out. a lot of people demand that they be cleared out. a tense situation with students barricaded in that hall right now. troy miller grilled by lawmakers on capitol hill as border crossings and migrant apprehensions remain sky high. big election issue at the border. what do republicans hope to get out of this? >> they want to underscore how
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they think the white house is not serious about the border. this is troy miller's annual spending request to congress, republicans are exasperated there's no action on border security. >> it is crazy. all we can do is come in here and past messaging bills that you end up legislating by virtue of what you put out for certain week or something. >> they supported a bipartisan security package before the ink was dry. democrats complained republicans do not really want to fix the border but would rather have the border as a political issue. >> there's a difference between complaining about a problem in doing something. some of them said out loud they would up because they would rather complain about it then do something. they had an opportunity to do something and they didn't. they are to be ashamed of themselves. >> reporter: republicans call
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on the administration to fix the border. the white house rejects that. the gop believes they can target democrats as being weak on border security this fall, democrats are skeptical. >> with her will be a vulnerability depends on our ability to get the message across that we tried and republicans are stopping us for political reasons and they are demagogueing the issue and they are the ones who stopped anything to solve it. >> reporter: the house votes this week, some gop members are upset house speaker mike johnson did not push for border security in the recent foreign aid package and we have breaking news, the house democratic leadership team has put out a statement that if marjorie taylor greene republican from georgia tries to move against house speaker mike johnson they would move to
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tableland try to kill that, quote, her motion will not succeed. that is a big deal. stuart: thanks very much indeed. president biden and mexico's president have agreed to a plan that could, quote, significantly reduce border crossings are. darrell ice a joins us now. what your response to that plan? >> remain in mexico? we've been there and it worked. the fact is this president deliberately allowed and encouraged and welcomed 10 million illegal immigrants and doubt that they are there, maybe he is trying to win an election but who is to say what he would do after words. what he flood us again? no law was changed between trump and biden. no many different significantly occurred between the two but the difference was night and day based on the president's desire to turn our border
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patrol agents into uber drivers to bring more people into this country. eventually expect to have -- a vote for him. stuart: point out what the game might be. we don't have a new president for at least until january 2025, almost 8 or nine months to go. what is the end game here? >> it along game to be honest. it is 2032. in 2030, 10, 12, 15 million people are counted living in urban areas they will gerrymander many many more democratic seats. they don't have to vote, they just have to live there. that is almost a certainty. that was part of it. i also think he thought it was going to get him the minority vote. instead you are seeing in the polls the president plummeting below 38%, if you are an african-american or hispanic
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you see this as displacement of your opportunity. you had opportunity that has been taken away under biden. stuart: the war in israel, administration just condemned 5 units of the idea for gross human rights violations. why is biden condemning the israeli motor in the middle of a war? >> why is he allowing anti-semitism to go unanswered around the country in college campuses? the fact is there has become a problem in his party, growing anti-semitism that we see every day. the reality is these campuses need to shut down the way glenn youngerkin shut it down in virginia because there's no leadership from the white house. stuart: thank you for joining us. see you again soon. lawmakers pressing the white house, the use of crypto currency can be used to invade sanctions. come on in, how does it work?
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>> sanctions are only as good as the capability to enforce them. some us lawmakers want to make sure crypto currency such as the stable coin tether isn't being used by countries like russia, iran, and north korea to get around penalties. democrat senator elizabeth warren and republican senator marshall both writing a letter urging the administration to take a closer look especially the use of tether, whose value is pegged to the us dollar, they claim russia and venezuela are using it to either purchase weapons or facilitate oil exports. tether is not responding to these claims saying all transactions are online and traceable and every facet can be seized and every criminal can be caught. quite a statement.
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stuart: still ahead astrazeneca admitted their covid vaccine can cause rare but deadly side effects. doctor marc siegel tells us about it in our next our. education secretary cardone is getting drilled on capitol hill. republicans want to pull funding from ivy leagues if they don't get the anti-israel protests under control. madison alworth has the latest from columbia university.
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stuart: one hour into the trading session, the dow was down 160, big decline in caterpillar and goldman. that accounts for 80 or 90 points. lauren: they reported stronger earnings, by $2 billion. they were in their case, and it was a problem for the whole year. stuart: it is 7%. 3m. lauren: the reason the stock is up 5%, they were a dividend, 64
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consecutive years. after they spun off their healthcare business, what would happen with the dividend? they will target 40% of its free cash flow. stuart: i tend to be a dividend investor. do pay power for some of it. lauren: more people are using paypal and reported 84 basis point improvement in their margin. stuart: miguel cardonea, they want colleges to lose funding if they can't get the anti-into the real -- anti-israel protests under control. madison, i want to know about the hearing but given the latest from columbia please. >> reporter: good morning. the latest on that, students broke into hamilton hall, building on campus, taking it over.
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i will show you some video of that. after midnight, early hours of the morning, students broke into the building, they brought barricades to barricade off the doors and formed a human shield taking over the building, the student newspaper columbia spector order broke students broke inside and covered internal cameras with trashbags which as of right now they are in the building. as a result, columbia closed down warnings where we are now. i want to show you at the gate that closes off the campus you can see the sign there, columbia id required at this point. they are only letting students who live in this area and central staff. the only folks allowed in at this time. we are here from barnard college only students with ids are allowed on and have canceled while in person events
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on campus. i asked about commencement, they don't have any news. in washington the white house has spoken out about columbia. deputy press secretary saying in part from president biden that taking over buildings is not peaceful and hate speech and hate symbols have no place in america. a very direct statement of what we are seeing at columbia. this is the backdrop as miguel cardona was testifying on capitol hill. that is on fiscal year 25 budget request but it is expected lawmakers will push him on the ongoing protests that has been seen on college campuses. if you want to go the education department reminded schools they were legally obligated to address incidents of discrimination or lose federal funding.
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we are seeing a push by republicans asking for federal funds to be put out of these private institutions unless things change about these college campuses. at this point those protests are present at columbia and universities across the country. we are getting word the hearing is now in place. they've started to bring up the ongoing college disruptions. we have to wait to see what cardona says about that. stuart: the cohost of love for you, whoopi goldberg, lashing out at the media for their coverage of anti-israel protests. >> i would caution the media to be careful about what they are doing and how they are handling this because what they seem to be doing is pushing a narrative that people are pushing against, which students are pushing against. i like when students get mad and say we want to change made. stuart: jason rantz is with me.
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i'm not sure what whoopi goldberg is saying. >> the irony of one of the most ill-informed people on television warning the media about anything. she saying the students claiming this is not about being anti-semitic and anti-israel or pro-hamas that we should be listening to them, taking their talking points and espousing them on television which is absurd. we don't know what is happening. some are deciding to be part of a movement because those lives are lonely and looking for some sort of meeting, and infiltrated groups, starting to pursue a more violent tactic. we've seen this script before during the blm riots and rallies. that's what is happening here. to get this under control in
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texas and florida, it is going to gain more momentum and it is going to be more out of control. you think is out of control now? wait until they don't do anything. and stop these kids from this chaos. stuart: they've taken action in texas and florida which the police moved into yale this morning and there were arrests, on chapel hill there were 25 arrests. police are moving in. surely they are going to have to move in, you can't let this drag on. >> not only do you have to move in you have to stay and let it rebuild which is what college students are doing here. when you see these arrests, do they get charged or do they immediately release? and nothing actually happens. and they do this all again because we have taught them that there are no consequences. i like the coverage you are
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seeing from an hr perspective of larger companies saying i don't want to hire any of these kids from these universities. a lot of kids are privileged. they are going to their vacation home in the hamptons over the weekend, these are not kids who understand what it is like. and it gives them a little bit of grit that they were able to lean into. stuart: only a little time before they do something about it, senator schumer or the president to have something to say. and follow it for every one. state troopers in riot gear at the university of texas in austin, ashley, take us through
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what happened in texas. stuart: trying to occupy a quad on campus when state troopers in riot gear arrested students on site. dozens of protesters as tensions have been escalating in recent weeks, leaving some jewish students feeling intimidated. take a listen. >> it was two days to try to scare jews off campus. i hear they are chanting for the death of israel and the death of jews. if they want peace, they don't stand for anything like it. israel is a democratic state and a democracy in the middle east. at the end of the day they don't want jews on campus. they are trying to scare us off. >> are you going to be scared off? >> absolutely not. we will not be led like lambs to the slaughter.
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ashley: university president jay hartsell has taken a hard-line position for the protesters we have seen but that is prompting a back lash and lead hundreds of faculty, no-confidence vote calling for his removal. a lot of people saying that good for you, clear them out. stuart: thanks. coming up, still ahead. hedge funds spent billions buying up homes, some democrats want to put a stop to that. they say wall street investors have priced out hard-working families. let's take a look at a 12% drop in first-quarter revenue but they are doubling down on their ev push, 18 new fully electric vehicles of this year. lahren has the story, break it all down after this. ♪
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stuart: on the market some red ink, dow is down 150, modest declines of the s&p and nasdaq. lawmakers want to crack down on wall street investors who spend billions of dollars buying up single-family homes. what do they want to do about it? ashley: stop in a variety of ways because in the house and senate, bipartisan, trying to stop these wall street investors from buying up hundreds of thousands of homes and communities across the country and what do they do? they rent them out. democrats are sponsoring legislation to force large owners of single-family homes to help sell houses to family buyers. republican in ohio wants to drive out institutional owners to heavy taxation. lawmakers argue that investor buying has made it harder for
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first-time buyers to compete, they weight into town and make all cash offers. even republican texas governor greg abbott is weighing in saying that corporate large-scale buying of residential homes seems to be making it harder for the average texan to purchase a home. stuart: thank you. it is really sinking this morning after a sharp drop in revenue, stock is down 9%. they seem to be expanding the ev fleet. lauren: they saw hope in their report card because there battery electric sales rose 8% and they are doubling down. stuart: in 2024, 25 new or updated vehicles including 18 versions with the overwhelming majority still ahead of us.
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lauren: 18 are battery electric vehicles, they are fully electric. that is a big bet. the first ever jeep battery electric vehicle wagon here started 80,000, gets 400 miles to the charge but the high cost of evs is part of the reason revenue fell 12% and the cfo says they see weaker profitability the first half of this year. there are investments, factories for this ev future even if they pay the price or lose $32,000 in every ev itself. they expect to rack up $5 billion in losses, general motors is doing well because of their gas cars. stuart: it is possible stellaatlantis is down this morning because investors don't
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believe the bet in electric vehicles will pay off and that's why the stock is down today. lauren: the average price is $54,000. there's one the goes up through $100,000. what is the market for the regular person who wants unaffordable reliable car? stuart: thanks. coming up the governor of texas is suing the administration over changes to title ix. governor abbott says biden's rewrite destroys legal protections for women. we are low over that one. anti-israel protests at columbia university. student protest group says they continue demonstrating until the school meets their demands. brian kilmeade on that next.
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stuart: a loss for stocks this morning, eci came in. stuart: to employment cost index. stuart: considered bad news for the economy. bitcoin going below $60,000 a
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coin, recovered to 61-3. the 2-year treasury earlier broke above the 5% level. it is there now, 5. 02%. that doesn't help stocks, stock of the day, eli lilly can't keep up with demand for their weight loss drugs, stock is up 5. 9% earlier. it was up 8% or 9%, a huge success for eli lilly. late this afternoon, amazon releases its latest quarterly results, what you've got to be interested in is there outlook for the future and their cloud business. looking forward to that report, stock is up $0.20, $181 a share. coming up on 10:51 eastern time and that means he will appear magically on the side of your screen, that right there is brian kilmeade. thanks for joining us, straight to this anti-israel protesters at columbia. they occupied this building,
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what do you think they should do? brian: how much longer can they hold out, they cut electricity right away, stop the water, number 2, you've got to tell the nypd be prepared to move in. you can't smash windows, take over building, holdback janitors against their will until they forced their way out and that your answer to at 2:00 pm deadline to pick up your tents and go home and clear the square? at some point faculty has to step up. here's the leverage. 23 congressional democrats told the administration get your act together, this is anti-semitic behavior, jewish kids can't get to campus. i leave for these other campuses who are following columbia's lead to do the same thing. after all what price do they pay?
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they are still in there. some idiots think they are heroes, rename the place after a child who allegedly died in gaza, have no idea about the true issue but as much as i believe they are anti-is really i believe they are fundamentally anti-american. stuart: why didn't the authorities see this coming at columbia? that tend has been up i don't know how many days. why didn't they see this coming? brian: i thought they would put somebody in the middle of that encampment, needs to be eyes and ears. nypd switching forces, need to travel around the world looking at terror attacks. those were the ray kelly dies, on the outside, you know what anyone says, the greatest mistake the president of columbia made is bringing them in, that's the mindset of the administration and these professors, don't bring in the cops, you made it worse.
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what planet are they on? bubbles about to burst, they are being introduced and professors too to the real world. stuart: attorney general of texas ken paxton soaring -- suing the administration of changes to title ix. several states are suing. what do you make of these new title ix rules? brian: they are terrible. can is it ministration show any courage? don't care, i'm sorry it happened with this big push, gender confusion you are going through but it can affect women and boys and girls sports so you have to compete with the gender you are born with regardless what you choose to do with yourself. instead it opens up to everybody and your sentiment, young lady, center midfielder might get some gender confused male who will take your leg off or break your head open.
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we watched in lacrosse these shots from men who decide to be women that go cracking into the heads or chest of these women and they have to struggle sometimes for their lives. this is insanity. stuart: thanks for joining us. thanks. we have an update about west virginia middle school students who protested a transgender athlete competing in a shotput competition. take me through and give me details. lauren: five girls around 13 years old do not compete against a trans woman in their shotput competition. those were contested can never compete again. the west virginia attorney general is filing a lawsuit on their behalf so they can compete and asked the supreme court to weigh in on the situation. the state of west virginia band
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athletes, the state law and why they protested. but an appeals court rules of the state's policy violates title ix and this particular trans girl, 13, has been living as a girl her entire life and wants to compete and doesn't want to do it is a boy. she can't win that competition, if she goes three feet further. stuart: the five who walked away did not. lauren: from ever competing again. stuart: i don't see the fairness of that. there you go. we've got to go. still ahead. georgia attorney general will be with us taking action on anti-israel encampments on campus. doctor marc siegel and astrazeneca admitted gets covid vaccine can cause side effects. jimmy failla on jerry seinfeld on diluting comedy. the 11:00 hour of "varney and company" is next.
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