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tv   Varney Company  FOX Business  May 1, 2024 11:00am-12:00pm EDT

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>> ting beyond me to understand why a president of the united states wouldn't publicly take a stand to hoes tangerines. we seem to be oblivious.
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>> they'll take president biden down and will cause him to lose and then they'll turn to the party and say you need and yous we own you. >> this is gaza that elected hamas and hamas is a terrorist organization that attacked our dearest and closest ally in the state of israel and you're going to bring people here? what are you talking about? >> it's appalling that the president has been visible for the weeks this has been going on and getting worse and worse. >> what we're seeing righted now is no moral clarity and this is why they call on the president and commander in chief to make some sort of public statement. stuart: what's that song? fooling yourself. 11:00 eastern time and may day sports fans. yes, indeed.
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wednesday to boot. check the markets, please. we have the dow up narily 100 and minor lo losses and knack dk off april and it was the worst month since september of 2022 so boddest bounce back for the dow. show me big tech and all on the upside and amazon, alphabet, meta and apple all up just a little today. check the 10-year treasury yield. that's a very key barometer for stock prices these days and at 4.66%. two-year treasury over 5%. now this, order restored to the campus of classrooming ya and riot police moved in and cleared
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occupied buildings and took down the tent encampments. tua tulane university cleared overnight and city university and all across the country pro hamas demonstrators have largely been pushed off college cam campuses. what took so long? for weeks we washed jewish students harassed, attacks and forced off campus. it's been an ugly display of anti-semitism. why wasn't this put down earlier? it's a failure of leadership from the president on down. senator schumer said nothing till late last night and highest ranking elected jewish official and he's also a democrat. last thing democrats wanted to be like the vote in november. same with la mayor and karen bass and the pitches taking place at ucla and substantial push to the democrat party that supports these demonstrators and they support hamas. that's appalling.
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we've seen supposedly elite colleges and taken over by young people chanting hateful slogans directed at jews, incredibly hamas convinced supposedly intelligent people to support terror. that they're anti-semitism is entirely legit. it is not. two points. people are not happy with campus mayhem and biden looks to be pandering to to may ham and takg a political hit. they'll be back for the democrat convention in chicago in august. those of us of a certain age remember the chicago convention in 1968, it was a riot and democrat candidate hubert humphry lost and richard nixon campaigned on law and order and won. third hour of varney starts now. ♪ and newark founder of outkick
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clay travis joining me now. what do you make of the riots on the elite universities? >> democrats on the far left have a major anti-semitism problem, and joe biden, chuck schumer and their leadership is unable to address it. i thought you laid it out well, stuart, with your open, but really what this boils down to is the left in this country has created a oppression olympics, a pyramid of victimization, and what jewish people have come to stunningly realize is the left sees them as just white people. and white people in the mind of the far left are oppressors and they're colonizers, they are evil. and so even in a situation like this where the jewish people had the worst attack on them since the holocaust in 1200 innocent lives taken, the left in the country sees the jews as the
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oppressors and occupiers and colonizers and so they cannot understand how they can be the victims here. trump is an old white guy and racist and natzi and argument they would make against him, and what you have here is two traditional left wing voting blocks, the jewish voters that vote around 65/35 for democrats and the arab voting block, which is a 75/25ish democrat voting block. is joe biden that is not a particular joy politician and has two different parts of the base colliding and trying to avoid making a clear decision on losing jewish voters and arab voters and this is the lack of leadership and refusal to
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condemn outright anti-semitism going on. stuart: the trump trial on hold today and getting back to work tomorrow. judge merchant warned trump he could be jailed for violating the gag order in his treatment just speculate for me for a second, what happens if he really does go to jail? >> i think it's the best thing that could happen to donald trump's presidential campaign because it reinforces exactly what he's been saying that this is an unprecedented 240 years we've never seen anything like this, use of the justice department by the sitting president to try and put the current president in prison for the rest of his life. even if they put him in jail just for a short period of time, if further solidifies donald trump's base and appeals to many independent voters and what i would say in general, the democrats have abortion, which they're trying to terrify everyone with.
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they've got this january 6 argument. they've lost this because what they're trying to say there is that donald trump is a unique threat to democracy and many reasonable voters are saying wait a minute, you're trying to argue to me that trump is this huge threat to democracy while simultaneously trying to put president trump in prison for the rest of his life by his chief political opponent. i think that kind of cancels itself out and leaves them only with abortion, which i actually think trump did a good job of talk about and saying all roe v wade did was return the decision to the state and each state decides the law within its boarders we are tianaing to abortion. stuart: clay travis, thank you very much. see you soon. listen to what janet yellen said about the biden tax hikes. roll it. >> the president has been very
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clear that no family earning less than $400,000 will face a tax hike. he's not proposed such a thing since he took office and he's not proposing to allow that to happen when parts of tcja expire. stuart: kevin oilery reigns leading is with me in new york city -- kevin o'leary is with me in new york city right now. do middle class citizens get hit? >> absolutely. two ways. raising taxes at this point, obviously you do this because you're in an election cycle and taxing the rich is always a good psychoand will that rhetoric has gone on for decades in cycles. however, opposing tax hikes on the u.s. chips act is a mistake and high inflation still and that's becoming a problem obviously because there's a narrative only three months ago
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for rate cuts and that's not going to happen. when you have inflation, that's a hidden tax on the middle class and then 23 you stacks again on top, you're squeezing growth out of the chips act and a simple equation. when the government takes money, they cannot longer invest in a business or retirement, it goes in the meat grinder of government, which as we all know is a -- -- stuart: it's a meat grinder. >> yeah, and inflationary of late and all the bills put through with the chips act, inflation reduction act. this is a bad idea. i don't want to make it a partisan argument, it's just a bad idea in all ways. stuart: got it. i want to turn to the markets and interest rates elevated should we put it like that. the economy is clearly slowing down and inflation is picking up a bit. why not sell stock? >> well, the alternative is the question.
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you're making a good point. however if you look at growth and underlying growth in s&p 500 and russell 2000, i like what i see. the consumer slowing, real estate is an issue in these rolling blackouts and regional banks and i get it. right now but right now equities man tianaing to the potential -- maintaining to the potential of policy changing and this election and more pro business if trump gets elected and a money manager and do i really want to sell right now or wait nine months and see what happens on all of the policy around taxation, all the policy around regulation, pro energy. i'm kind of against hanging onto bipartisan basis and that's a good outcome if i'm equity and 50/50 chance and throw a ball in the area and don't know who's president. system of articulation stuart:
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certainly, ken. stay there, with me for the hour i do believe. the other side of the coin. a group of counter protesters at unc chapel hill shouted chants of usa, usa and sang the national anthem and put the american flag back up on their campus. watch this. stuart: biden campaign making a play for florida and does biden have a shot of any kind at winning trump's home state? hemmer is next. ♪
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stuart: vice president harris is campaigning in florida today. jacqui heinrich is joining me today. reporter: stuart, florida's abortion ban goes into effect today and among the strictest in the country banning most portions after six weeks, a point when many women don't even realize they're pregnant. vice ft. harris wheels down joe
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biden and i have a different view and believe no politician should ever come between a woman and a doctor. her visit come as week after president biden traveled to tampa to campaign on the abortion issue. he said because of the patch work of restrictions across the country following the dobbs ruling, ft. could be in play and only grown more red since ft. obama. harris said the administration will reclassify marijuana as a less danger yous drug moving to scheduled 2 under the controlled substances act where steroids and tylenol with codeine are ranked. the da is expected to approve health and human services and the potential medical benefits for the first time and change not happening immediately but a 60-day public comment period and the judge's ruling and she
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oversaw 2,000 marijuana convictions for felony crimes and most did not include jail time, but critics have called her out over her evolving stance on the issue over time. steward. stuart: jacqui. now we have bill hemmer sitting next to me in new york city. any chance biden could win florida based on polls? >> trump beat hiden by three point-blank layups -- trump beat biden by three points in 2020. if joe biden beats trump in florida, this election is over and he get as second term. look at voter rules in the past years going back to covid, they've exploded with republicans registering to vote until the state of florida and strengthening their hand and jackie point -- ja jacqui pointd
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out it's only gotten redder and this abortion appointment on the ballot and it would be something to pay attention to but it would be a real stunner. stuart: slim to none? >> i would say slim, i wouldn't say none. you never know what happens in the elections and that's why we watch. stuart: in florida, that's true. all right, the administration is moving to reclassify marijuana and make into a -- classify as a less danger yous drug. what's the politics of that? >> it's interesting, dana and i were talking about it upstairs and politics seems to be involved in just about every decision you make when you're six, seven months from an election and if they do this, it has to get approved in the office of managers and p.m. budget and based on research i found today and sometimes it goes there and dies and sometimes it doesn't, but i tell you, i'm old enough to remember the town of new york city before
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everybody everybody smoking pot on every street corner and it was a more pleasurable city. the number one complaint i hear and the first reaction i get from visitors that haven't been in new york sister several years, that's the one thing they say. stuart: biden is making this move to get youth vote. >> right. stuart: making it easier to get and bingo, you've got the youth vote. >> there were promises med that dana pointed out about the african american vote and we've seen some polling where african american men moved toward trump and away from biden.
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stuart: i have a live shot after last night's riots and pro israel groups battling against pro hamas groups. it's kind of quiet at the moment. what are the politics of the campus disruptions? >> i thought paul was terrific on this this morning. he was on the air all night and he characterized it the right way. benjamin netanyahu earlier today told anthony blinken in ziti -- antony blinking in israel that amount of protest will make them stop the war into israel. they're going into rafah and when that happens. the protests may look mild today, stuart. we could be at the beginning of the movement and spread greater and the person in the country. stuart: we've got kevin o'leary with us and i haven't asked you what you think of the campus disruptions and biden's inability to do anything about it? >> we've had riots on campuses forever and this is part of what students do and passionate about
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their causes and the one difference i tell all my students when i teach these days is in the '60s and '70s, richard nixon and all the vietnam war riots, it was pryor merely shot on 60 -- primarily shot on 60-millimeter fill and will it's hard to enhance the image of the face. now we have technology shooting 1080p and all the new footage and all goes on the internet and you were putting yourself in a position w. you go for a job, i'm not telling you not to -- if you want free speech and protest and want to burn a flag, i don't care what side you're on. i'll know about it as a employer. i guarantee you every image even at night of those people trying to go and get work and graduate college and doing your resume and buy these deep dark services and do it with all these companies and see you burn ago flag and don't care which flag or campus, i take that resume and put it over here because i can look through the other resumes and find something that's not tearing down the campus, that's just as good as
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you. that's what i'm telling these students. think about what you're doing because you're in 1080p and the world will forever know what you did. if you're good with that, okay. but you're trashing your career. >> i wonder how many are aware of that. stuart: how many are actually students? how many are outside guys? >> i think two things really exploded today on the issues and number one is outside agitators have been recognized by university presidents. first time and they're 19, 20 years old and playing right from wrong and going on that. stuart: i'm afraid we're out of time and in 196 and will i've got a forecast and same thing
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something similar happens in chicago in 2014 and that's my opinion. bill, thank you for being with us for the hour. moving on. biden administration trying to incentivize making sustainable jet fuel. a panel that includes making that on core. ashley: it's part of climate initiative and bio-fuel lobbying the government and making sure the corn ethanol and basically making up for the expected loss of ethanol demand for the rise of electric vehicles and administration says current commercial aviation generates 2% of the country's dioxide pollution and pes to promote the
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production of fas to reduce greenhouse gas emissions by 50% versus petroleum-based jet fuels and putting corn into the plane before you take off. stuart: can't wait, baby. can't wait. thanks very much, ash. coming up, owners defaulting on loans at historic rates and how many billions of dollars are on the line. billions of protesters at ucla turned violent and the protests stopped one student from attending classes and that student will give us a firsthand account from the school next. as an independent financial advisor, i stand by these promises. as a fiduciary, i promise to be the financial steward
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stuart: on the markets, a mixed picture, nasdaq up and dow down. low $80 a barrel rate of oil. down $39.37 and maybe the rise in gas prices will start to moderate. check the price of bitcoin and now down to $79,000 and just above $57,000 per coin.
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a jewish student at ucla wear ago star of david said he was denied entry to the campus by a group of mass pro palestinian protesters. watch this. >> we're going this way. jew yous have closed the entrance. we're ucla students and i have my id and i'm being blocked off, not by security, but you two, you three. i'm going this way. thank you. they're making a barrier wall. this is what they do. i'm a ucla student, i deserve to go here, we pay tuition and this is our school and they're not letting me walk in. stuart: okay, the student in the video is joining me now. eli tsives, welcome. did you show the video to your school and did they do anything about it? >> hi, stuart, thank you for having me. i show that had video to the school and -- i showed that video to the school and they released a video saying what the pro hamas mob is doing a absolutely unacceptable and pushed them back into the encampment. stuart: were you on the campus
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last night? describe what happened last night because sounded to me like pure anarchy. >> yeah, so i went last night straightly to document footage -- strictly to document footage for "fox & friends" because i was on the show this morning, it was pure anarchy. people from both sides of the conflict just charging at each other and getting into physical confrontations. i can confidently say there were no jewish ucla students present and all the pro israeli people were not ucla students. they were average age was in their late 20s and they were there and mad that ucla administration was not protecting jewish students such as myself and decide to take it into their own hands to do something. stuart: how come it was several hours after the real violence started to the police came on to the campus to break it up? why the delay? >> excellent question. it shows some of the problems we have here and in california with
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regards to how police are not called till the very, very last minute. ucla was doing everything in their power to prevent police from entering the campus, and once the police arrived, i was witnessing them form a line and did not engage immediately and i was witnessing as there's fighting breaking out and police were still not engaging. stuart: do you feel safe on campus? >> you know, i used to always answer with yes but now that my videos are going viral and people are starting to recognize my face not just on campus but everywhere i go, i have to be careful. i've started carrying pepper spray around and talking with my parents about getting security detail because i've been getting phone calls from random numbers saying really mean things and people are publicly posting about me so i'm getting put in a really bad situation right now. stuart: it's a disgrace this kind of thing should happen on an american campus and nothing
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is done about it until too late. eli, thank you very much for being with us today. we appreciate your appearance and hope you can come back and tell us more about ucla and what's going on there. thank you, eli. thank you.thank you. the chancellor of the university of north carolina taking matters into his own hands after protesters replaced the american flag with the palestinian flag. walk us through t ashley, what happened. ashley: well, you could call this a step too far and the chancellor restored the american flag after protesters replaced it with a palestinian flag, which in turn prompted anti-protesters to begin chanting and singing the national anthem. watch this. [ chanting "usa"]. [ singling of national anthem.
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ashley: protesters again took the flag dawn after the chancellor left and counter protesters formed a circle around the american flag and held it up to keep it from touching the ground. it's just beyond me. i can't even believe this is happening on american campuses, university campuses across the country. it's insanity and outrageous stuart: good to see people standing up for the american flag and hope that happens elsewhere as well. love to see it. thanasiss, ash. here's what's coming up. brian brenberg went to talk to protesters at columbia and most couldn't tell him why they were
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protesting. permitting rules from administration and they're being used to push a green radical agenda. that story is next. ♪
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stuart: markets present a mixed picture and nice gain for the dow, 112 points higher. that's about it. nasdaq down 37 and s&p down 11. got it. senator joe mansion wanted to undo the president's new permitting rule for clean energy. ashley, what's the problem? ashley: he claims it's been corrupted with the administration's radical agenda
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and the energy department rule alters the permitting process to streamline exclusions or those that are considered not to have enough of a environmental impact to require a full review. it could be an uphill bat and will biden vetoed every resolution that targets the administration's energy and environmental rules. stu. stuart: why am i not surprised. thanks, ash. i want to bring ke ke kevin o'ln and you've been trying to build a new oil refinery since way back wen. what problems have the environmentalists been putting in your path? >> policy and scale. if you want more than
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150,000-barrel as day, you need epa approval and trying to get a permit is impossible and waiting for policy change post election to see what happens. also another challenge you'll find most sovereign wealth funds funding the multibillion projects have publicly said to scale away from hydrocarbons and various reasons and they allowed 11-17% at annual returns and very attractive in the right states. it's not over yet, but i hate -- you know, every time we talk about this it's always partisan politics. the country needs refineries. stuart: exactly. >> it really, really needs refineries and i don't care who's president and looking at reality, there's no such thing as replacing oil in anybody's lifetime that's alive today. there is a transition to other energy sources and oil remains the number one source to power the economy. i'll get it done but it's taking more time. stuart: you'll get it done if trump wins the election.
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>> i never say that because i don't want a 50% of the population sending me rate mail, but theys -- hate mail but they they haves have to drive to work. stuart: you're helping them out. stay with us, kevin. default on office loans reaching record highs. how much is on the line, ashley? talking billions; right? ashley: yeah, more than $38 billion worth of u.s. buildings threatened by defaults, foreclosures or other financial distress and that by the way the highest amount since the fourth quarter of 2012 in the aftermath of the financial crisis. office owners paying back loans at a much slower rate n. 2021, more than 90% of office loans were convert intoed commercial mortgage-backed securities and paid off when they became due. according to moodies, last year that figure fell from 90% to 35%. interest rates are much higher as well and in a normal market wouldn't be such a problem. wouldn't be great but they could get by. since covid, we know that the
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office market has nose dived and in new york city building comoccupancy around 51% or in or words almost half empty. stu. stuart: that's a pretty bad situation. kevin o'leary, do you blame remote work for the emptiness of office buildings? >> yes, 100% and learned with my own companies, over 50 of them. we thought 15, 1-5 wouldn't come back and now 42% didn't come back. primarily accounting, logistics and people that lived in cubicles and found lives in rural areas and are very happy and that's never going to change. the ceos saying i'm changing policy and forcing everybody back in the office. they're dreaming. that's never going to happen and they don't understand young people today want a mission in life to be happy and they want to work and they prove that had they can. stuart: are they working as well remotely? are they as efficient and
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productive? >> i don't care what time you do it. i'll grade your results in terms of advance, bonus by the ability to finish work on time. and it's not 9-5 anymore. i have people working all around the world in these spaces and primarily in the 20s and mids 30s, it's a schedule. it's a giant logistics map and software now helps you. this is project-based work, and it works. i'm invested in all 11 sectors of the economy. it's working and partly it's because of technology but also these people are never coming back into those crappy offices in the basement. they're not doing it. stuart: that's fascinating. good stuff, kevin, thank you very much, intoo . it's that time of the show showing you the dow 30 and a sense of the market. there's quite a lot of buying for the dow 30 stocks and not so much elsewhere and dow up 137. got that. protests at usc go so ugly that the school canceled its graduation and protesters facing consequences. a senior from usc that will now
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stuart: split screen, left hand side of the screen, crumb ya university today and encampments have been cleared and right hand side shows yesterday columbia were more than 200 people were arrested overnight and school called in nypd and there's encampment and that right hand side, gone. left hand side today. brian brenberg with me. you went to columbia and talked to protesters, what did they tell you? >> yeah, office professor for 14 years and love mixing it up with students and went to columbia and wanted to hear independent thinking on why they're there and what they're calling for. turns out they had zero interest in sharing their thought withs me. watch this. reporter: would you mind if i asked you questions about what's going on here? you don't have to be media trained. >> look, nobody is unsafe regardless of what anyone says they feel like. reporter: can you tell me more about what you're asking for? >> i'm not a spokesperson for the movement. reporter: i don't need a
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spokesperson. you're out here you don't have to be media trained. almost nobody ever wants to talk about october 7 at these thins and ask about october 7. >> this is a very complicated cd and nuanced issue. >> talk to somebody that's been trained to talk to the media. reporter: i'm curious about the divestiture calls. jaire we're angered by the government's support for foreign ethnic cleansing in genocide, and, yeah, that's going to set people off. >> so this is what got me, okay. i wanted to go talk to students, i wanted to hear what students had to say. whoever is running in thing, has made it very clear students, you are not to speak because you're not media trained and the students have just lap that had up and said you know what, you're right. i'm not going to say a word. columbia students, the best and the brightest. stuart: supposed to be really intelligent kids. >> tell me what to divest from. i'm not media trained, i can't
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tell you. stuart: but worse, they're chanting in favor of hamas, a terrorist organization. intelligent people doing that in the united states of america. i find that incredible. >> sorry, guys, i see a new business opportunity. media training, come to kevin o'leary, $299 a month. this sin credible. i'm going to make a fortune on this. all you students, i got your back on this. i'm going to train you how to do the media. stuart: get out of here o'leary. >> fox nation 7:00 p.m. tonight and we're getting into the conversation and ten stints are with me and you can tag about what's happening on campus and they're ready to speak. knocks nation at 7:00 p.m.. stuart: we'll be watching you at 1:00 today on fox business, which is the big money show and you're on it. >> you bet. stuart: i got that right. thanks, brian. take a look at violent protests that broke out at ucla. you can see left hand side of the screen. this is brutal stuff. it's a riot, a brawl, joining me is grayson and she's a seen yore
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at southern -- senior at southern california usc. grayson, they canceled your graduation at usc and am i right saying you're a senior in high school during covid and missed graduation from high school as well? double whammy for you; right? >> you're totally right. in 2020, covid was just happening and we had not normal graduations and we've been in the clear for years and going into this year of graduation, we thought normal was going to be our graduation but i guess normal is not in the dictionary for think class of students. stuart: why was nothing done about the protests at ucla? why was this allowed to fester for so long? >> they don't want to disgruntle
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protests or other side and they've been stagnant in taking action and seeing the consequences looking on the screen and what happen when is you don't take action or don't take a stand on either side. stuart: congresswoman wow. mill wow.jayapal has a message to students that don't feel safe. >> message same to injuryish student or palestinian student or everybody that it is really important to enemies indicate yourself about what isenty semitic and what is islam phobic, to separate a people from an action of a government. stuart: grayson, you're supposed to educate yourself about anti-semitism. how about that? what do you say to that? >> education is a word that keeps getting thrown around, and i think they're trying to refuel
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the definition of education and retool definitions of genocide and all that and i don't think a lot know what they're talking zack they're trying to spin the narrative in the words of education but clearly they're just -- they just don't -- they want to push their narrative and they were willing to change definitions if that's what it means for the narrative. stuart: grayson wolf, thank you for coming on the show. difficult time but come on back and see you soon. grayson, thank you. complete change of subject, wednesday trivia question. are you going to play, kevin? >> yes, i'm going to be right as usual. stuart: all right, did you look it up? how long is the mississippi river? 2,000, 2100, 2300 or 2500 miles? kevin will surely have the right answer after this. >> i've not used ai or gone to the net. it's no. 2, 21290. stuart: correct answer when we
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stuart: before the break we asked how long is the mississippi river, 2010, 2190, 2350, 2520? we've heard from kevin already but start us off. ashley: i will go with number 3, 2350. >> kevin already said he knows it's 21. >> when i do these things i'm always right. stuart: you say it is 2190. i would say i am with ash on this. reveal please. thank you, ladies and gentlemen. >> it is always regular. stuart: you didn't give me the money to take the right answer. you know money. time is up for us. thank you. an

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