maria: welcome back were near the lows heading into the opening bell, the opening bell 30 minutes away, dumb industrial down 166 as interest-rate spite, i want to thank frances newton stacy and daniel garza. we appreciate your time. >> thank you, happy friday. >> have a great weekend we will see you next week. "varney & company" is up next. >> good morning, everyone, selections are all about the economy, president biden is in trouble, voters are not buying bidenomics. i asked if biden made the economy better or worse, 52%

said biden made it worse, that is not good for president hu is touring the country trying to sell bidenomics. maybe that's why an increasing number of democrats are trying to get him to step aside. congressman dean phillips has launched a national campaign asking the party to find someone else. after many summit with leaders of south korea a the president leleaves in lake tahoe californa so he can be in hawaii on monday. let's get to the market, you are not going to like this, look out below, the dow is looking at the worst week in five months. the opening bell, were probably going to be down 160 into serious loss and the nasdaq, down 130 points. interest rates, uptrend, that is not good for stocks, the ten year treasury yields well above four and a quarter percent, 427 in the two-year treasury getting the same of what what it was

yesterday. slick close to 5%, look at bitcoin a sudden drop after elon musk said he had written down the value of the crypto holding that spacex, the wall street journal broke the story and when it hit bitcoin went from 29000 to 26000 very quickly. it is 263 right now. on the show hard times for youngsters trying to get into the american dream with a home of their own, mortgage rates hit a 20 year high, over 7% over 250,000 homes for sale which are considered affordable to people making 75 to 100,000 year, before the pandemic there were 650,000 such homes. billy bush will tell us if he is making a serious offer to buy back bud light. we will show you what teenagers in beverly hills know or don't know about money. friday august 18, 2023, "varney & company" is about to begin.

♪. larry: i like that, we started a three hour show i want upbeat and powerful success, durand durand. let's get right to this, president biden has been touting his bidenomics as a success. good morning lauren, do voters agree. >> eight and ten say the economy is in bad shape and half, 52% believe biden is making it worse that means bidenomics is not working in the inflation reduction act did not reduce prices, americans have paid over $2200 more in energy costs since joe biden took office in 20 million american households are behind on the utility bills.

larry: that's not a good situation, jackie deangelis joined me now, voters, that's really clear, they don't see the economy in the same way that the rest of us do. >> i'm looking at a different line, the better line, are you better off now than you were four years ago that's what people are going to be thinking when they go to the ballot box pi.september 21 a little after e pandemic, 40% of people like things were better, july 2022, roughly when inflation peaked only 7% said they feel better and now only 25% a dismal number, you have headline inflation that is come down year-over-year, looks like things are so much better. people realize over the course of the last three years, they have absolutely been for lease by this administration, to a half years going on three. having said that, you look at the prices and how much people have paid over a monthly cost, $709 is the newest number that

your spending more on things, you analyze that and multiply it by three, that is $25000 out of the average families pocket. stuart: in the timeframe. >> the site getting safer down payment or college education and not being used to take the extra vacation. i could go on and on. stuart: do you remember the question that ronald reagan asked jimmy carter in 1980, are you better off now than you were four years ago? fast forward to the president, the same question asking to president biden and then answer is no. larry kudlow sat down with president trump, here's what trump had to say about fed chair jay powell, role that take. >> i would not reappoint him. i thought he was always late, whether it was good or bad he was always late. i was surprised he was reappointed, he probably got reappointed because they knew i did not like him much. i felt he was not good and i was

very tough on him and if i wasn't i think we would have much higher interest rates for much longer. >> you gave a most improved player. >> i'm not a fan of jay powell. stuart: he has a way of speaking, do you think it's time for new leadership. >> i think you can always infuse new leadership in breakout of change. jerome powell has made mistakes he thought it was transitory, and his defense the reason he thought that he did not the democrats are going to pass $6 trillion of spending through congress. if you had a crystal ball, you would know and if you didn't you relate to the game, that'll happen here. one thing i will say about jay powell when he raced rates during the trump administration he was doing to because the economy was growing in the right reasons. actually thought that was okay. what we we're going to be a 0 forever you have to get the market accustomed to it. for the reasons that were doing it now to tamp down the crazy spending nightmare that we have on our hands at the moment the

11 rate hikes and more to come is a lot for the market to digest. if he would've started sooner perhaps things would've came in a little bit better. stuart: jackie we have to watch on the big money show at 1:00 o'clock eastern on fox business. thank you very much. look at this, bitcoin tumbling last night, 29000 down to 26000 just like that. elon musk is involved. >> the wall street journal reported about documents that show elon musk spacex company sold its bitcoin after rotunda value by $373 million. elon musk is a crypto component, he has an outsized hand and move in the market but the other side of this, bitcoin is trading with equities, asia down three weeks in a row, nasdaq down seven plus% this month. volatility is back, it is affecting bitcoin and now

analysts worry and forget to see another freefall, another bike down as it could get as bad as to what he 5% ticketed to 20000 level from 26. stuart: i'm not going to predict the future bitcoin in my line of business, let's bring in kenny polcari. kenny covers the stock market normally, i want to know what you make of bitcoin's tumble. >> i'm not surprised that it troubled on the back of elon musk to eat lauren musk. every time lauren talks about it affects it one way or another. what i liked it see a backup another 25%, i would love to see a tray down to 20 it would give me and others to give my toes a little bit wider than they are at the moment. but to your point, i trade stocks and on trade crypto. stuart: you own crypto? >> i do, i own a tiny little bit of bitcoin because i want to get

my feet in there so i feel it, you could only file if you're in it. that's when you have skin in the game. i want to be like everybody else and feel it so i get a sense of what it is. what i like to see it come down, absolutely. stuart: what do you feel about big tech, i have apple, microsoft, nvidia, are they in or nearing correction territory, they're all down premarket, the big question is the tech boom over. >> i don't think it's over but to you and i have been speaking about this i am not surprised at all. look at what happened amazon it came in and filled the gap that i talked about last week. look after the fed meeting on wednesday, after he made it clear that rates continue to go up and stay higher, then the air is going to come out of the tech names they have been stretched. i'm not surprised, i'm glad some of them are in correction

territory, it's microsoft, apple goes on going anywhere looking to provide long-term investors an opportunity to buy stock on the cheap so i love the fact that they're coming in. i don't want to see them crash down 15 or 16%, backup a truck. stuart: are you going to do any dip buying today. >> i'm not going to do today, i still think the seasonal weakness is going to extend through august into september next week we have the jackson hole boondoggle so there will be speculation of volatility around the. i'm happy to sit back, i'm invested in these names, i cashed in, earning 5% sitting in my fidelity government money market fund so i'm not necessarily picking but i'm going to let the settle down because i think there will be will volatility next week surrounding jackson hole. stuart: do you have any other

hand gestures you would like to introduce on the show to any given time. hold on one second lauren has an interesting story. >> a 1962 ferrari up for auction and they expected to fetch $60 million. it is beautiful. it's one of the worlds rarest racecars, i don't know if he could see the wheels of their wire in the exhaust pipes are really cool. it's a car that you can see and hear high performance from 1962 the auction is this fall, $60 million i thought the economy was weak. stuart: let me bring back any ky polcari. i once bought in a type jaguar from the 1960s. a bad move that thing, that's not the car is in need type jaguar, that is highly user unfriendly and i lost my shirt.

my question kenny polcari, are you interested in 1962 ferrari no matter what the price? >> no i am not interested in 1962 ferrari. i'm not a real car person i like the car because it gets you from here to there vista doesn't get me excited. it does for some people not as fine. stuart: do you drive electric. >> i do not drive electric. stuart: kenny, we have to go that was fun. >> do you drive electric? stuart: no i do not. >> what so user unfriendly about the jack wire you could get the d mr., the clutch was all over the place, the lightning went wrong, it did not work. >> sit on your hands next time kenny. president biden finally scheduled a trip to hawaii but he doesn't want to talk about it, roll tape. >> tell us about your hawaii trip. >> no, not now.

i'll be there on monday. stuart: then he walks away. a lahaina resident will join us later in the show and i'll ask if they have any help from the government. a republican state lawmaker in georgia calls for a special session to d8 fani willis. he is here next. ♪ you can't buy great conversations or moments that matter, but you can invest in them. at t. rowe price our strategic investing approach can help you build the future you imagine. t. rowe price, invest with confidence. (man) what if my type 2 diabetes takes over? (woman) what if all i do isn't enough? or what if i can do diabetes differently?

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stuart: what am i hearing? doesn't that sound a little sinister is it to be block or cease block of the show that is north carolina beach. that is absolutely beautiful. trump's spoke about his latest indictment and is one-on-one with larry kudlow, what did he have to say about that. >> it is political and intentional and unintended consequences that are workable for the country, watch here. >> it is a witch-hunt a continuation of a witch-hunt they're silencing you, they mean silence i think they are sick people, i think you have annoyed you how the world works and the anger that they cause. >> he is onto something having four indictments against you is severe but ironically the severity of them pushed together almost discredits them and looks

like it's political targeting and that makes people angry. stuart: good point, my next guest is a georgia state senator who is calling for a special session to investigate fulton county da fani willis she will put trump eating others on trial before the next election. we are joined by carleton moore. senator why are you calling to investigate da willis. >> i woke up after the indictments and i felt like i had here in my biscuit, i said this is disgusting. my goodness we have a district attorney using taxpayer funds to make political prisoners. my hard-working constituents, they pay taxes into the state of georgia and money is going to fund this district attorney, let us not forget it took 19 days to certify the election result in georgia and donald trump in these 18 others were simply using the first amendment right to question the integrity of the election. some of the charges have nothing

more than a tweet. it's absolutely ridiculous i'm calling the special session because we have to take action now. enough of the facebook and twitter post it's all about taking action. stuart: you say take action, what action, what would you have to show that she has done that will be actionable. these are novel charges. anybody that went to law school if you could be a prosecutor and make it indictment you should be able to read the indictment while running and understand it. this indictment is so off-the-wall, were in uncharted territory with these types of charges. it is absolute nonsense political persecution. my job as a legislature is to put a check and balance on that and we have the power of the person the power to investigate and oversight.

i'm all about the time this investigation and when the corruption is shown the it's time to impeach. stuart: without means stopping the trial, no trial if you're successful. >> it is going to be a slow process it appears to get the special session because all the republicans are asleep at the wheel. at the same token it is waking georgians up to the fact that the taxpayer money is going to fund this. it is a brewing momentum in the state, people frankly are worried to speak out against her because it's gestapo tactics that she's using there will apparently be a second round of indictments this is complete tierney and georgia. stuart: do you think you would get a fair trial if it proceeds. >> i don't think so look at fulton county. the aclu is reporting half of the inmates in the jail have been yet to be charged with the

crime then we have the wrapper young thug has been on jury selection for a year but she goes to the podium and says in six months she's going to have these in jail, they can about the attorneys that are going to be at the room raising their hand in making a motion at the same time. not possible. stuart: colton moore, thank you for joining us. we appreciate it. stuart: president biden obsessed with the media coverage, people are afraid to bring up the subject, why. >> she is deeply affected by it. >> is a deep reluctance to raise this with president biden because he stuck by his sole surviving son and he will in their reports of these obsessed with the negative coverage of hunter, he is concerned and that's understandable not one that the good waterways because it is a real conversation.

>> that a strong stuff, is a strategy for lack of a better word to stay silent about the elephant in the room. this is what people are talking about. it almost sounds like a basement strategy, ignore and deflect when the two elephants in the te room the trump indictments and what's going on with hunter and the president has stayed largely silent i'm not sure how long he could do that. stuart: back to the market, we have red ink all across the board it's been a bad week for stocks, the dow was off 130, this is a few minutes before the opening bell in the nasdaq is down 130 points. will take you to wall street for the opening bell next. ♪

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stuart: is looking rather grim on wall street a couple of minutes before the opening bell we have the dow off 150 in the nasdaq and 140, taylor riggs with me, i want to talk big tech, meta, apple, microsoft, nvidia are all at or close to correction territory can you conclude the tech boom is over.

>> i think we have ways to go and falling prices lose a few more interesting dynamics, yet a big run up so far so fast in the first half of the year you have the nasdaq up more than 40%, that's a big run up in just six months for the year, the second is the rate story, when you go from yields a 0% to yield at 4.3% in just about 14 to 15 months, technology is so sensitive to the rate story is a long-duration asset, when rates are 0 tech is where you wanted to be when rates are 3.4% has to be worth a lot less than it was and i think the market is try to figure out what these things are worth. there's a little bit of a china story nevada concerns about china this week and a lot of them have some exposure to china we need to see how the slowdown in china have ripple effects into some of the u.s. companies.

stuart: there is still negatives piling up you think these big tech could fall some more. >> the last time they were deciding 2006 the fed was away from the last rate hike. begin again jackson hole see consumer rate pressure but may be a set this up for a nice fourth quarter. stuart: jevity explanation for bitcoin which went from 29 to 26000 because he revalued his crypto and spacex. >> there was a mini flash crash overnight and we know would bitcoin be careful that you know what you own because as liquidity issues so when there are sellers out the door there are big sellers out the door. yet a little bit of a mini flash crash they recovered a little bit we love round numbers when she read to 30, 28, 25 is the next row number in spacex revaluing that, an extra headline risk. stuart: are you predicting the bitcoin goes to 20000?

>> i am not licensed to give traded advice, i don't what to get in trouble but i will say this is a market that feels it's an orderly selloff but it's been a selloff nonetheless and i think markets are trying to find their footing with the high risk assets. stuart: i can't remember but i think bitcoin hit 68000 within the past 18 months. >> remover 2021. >> i remember reporting it hit $60000 that was the main story of the day. thank you for joining us, we appreciate it and we will see you later on the show take a look at the big board of the dow 30 we will do that when the market opens, they ring the bell on the right-hand side of the screen they will press the button and we will be up and running. it is been a bad week for stocks, very bad week in its opening on a rather difficult note this morning we open and the dow is up 200 points i see

three winners and a lot of losers, that is the dow down 100 points over a half percentage point, 34200, the s&p 500 also to the downside of the tune of .73% at 32-point drop, the nasdaq suffering badly it is down another 1% let's have a look at the big tech i'm sure there down, yes they are, apple is back to 172. microsoft at 314, also but it 128 amazon is holding okay at 131, medic 277 not that long ago met it was bob $300 a share microsoft most 350. >> meta is the number two performing stock in the s&p 500 is up 130%. take it with a grain of salt. stuart: i will try, take a look at the earnings report from john deere i thought it was a good report but there down 3%. >> they raise their annual

profit forecast after beating in the order strong infrastructure the trillion dollar bill from the administration and big tractor demand, why is the stock down, has a tractor demand boom peaked, crop prices moderating e-zine supply chain is a market returning to normal which will pinch the growth going forward. stuart: a question, 2.5%. >> estée lauder, that is down, 7%. >> this is a china story they reported their needs and their guidance is below expectation, a big drop in demand coming out of china that's where they do 30% of their annual revenue. it's also travel retail they do sales at airports as people travel a luxury type of consumer, that is struggling also. >> we should tell everyone ever grant the big chinese property declared bankruptcy this morning.

let's have a look at the chinese carmaker, another china stockton 6%. >> what went wrong tesla's price cuts in their losing money per car, the profit margin negative 9%. it was positive 9% a year ago. overall revenue fell more than 30%. it is cutthroat competition with other manufacturers, price cuts with tesla in demand that is down because they are slowing down. stuart: china is indeed sewing down, they're all almost lower. >> is a broad range of companies, ali baba, jd.com, the trigger is what you mention the ever grant major property filing for bigger plea. there warning of losses so far this year, the real estate the property market is a quarter of china's economy. now there are fears of contagion

everything linked to that. how is china responded, they lower key interest rates, on monday they're expected to cut prime loan rates but they also cut off access to data. working to stop publishing the youth and employment rate. stuart: that does not look good. >> what also they not going to tell us, how bad will things be and how are we going to find out. >> china stocks go down across-the-board. another story of a rebound and i want to know why hawaiian electric, down 60% since the maui fires. a jump of 11%. >> say that they are seeking advice from various experts and their goal is ultimately not to restructure. they might have to do that but the goal is to remain a standalone company. they're facing accusations that the wind down their powerlines and it caused the fire and that they did not turn off the power despite warnings that is the story litigation, headache, expensive assets are dealing

with you have a nice pop today but the stock is down 60, 65% recently. stuart: i would expect the company or a stock like ross stores to be doing well because they turn to good solid report in a think people are looking for bargains. >> demand for a deal they raise their outlook, they see same-store sales being up as much as 3% versus the prior forecast of being flat and bed bath & beyond went bankrupt in ross ceo thinks there's value in the home sector that they can bring in they don't really sell home stuff it's more clothing and accessories but they can get into the home market. >> the stock is up 120 of 5.5%. a we work i'm seeing the prompter, one for 40 reverse stock split. >> to consolidate the shares and boost the stock price, why isn't

it being boosted right now because overall it's a sign of weakness, why do they need to do that because there 14 cents and they have to regain compliance with the new york stock exchange trading rules this is your stock has to be above a dollar in just six months to get back to a dollar so they have the reverse stock split but right now it's not helping. stuart: is down 12% for loss of 2 cents per share that puts it down to 12 cents. we have the dow industrial in business for five minutes, were down 100 points. >> down by more than 2%. stuart: can we show you the dow winners, there we go, walmart at the top of the list they did very well recently, unitedhealth is up, cisco, mcdonald's, travelers on the upside that's a down market to. s&p 500, ross is at the top with five and a quarter% gain, generac is back on the list,

tapestry on the list, retailer, pinnacle west, the nasdaq composite winners, ross store is up there, series exim o'reilly automotive, constellation energy and dollar tree, the ten year treasury yield is upsetting a lot of people this morning because it's above four and a quarter percent. it is down a little but for 27. that upsets the nasdaq. the price of gold below $2000 an ounce, 1920. bitcoin a big drop overnight, 29000 down to 263 right now. oil, i presume that is down a little, it is up a little $80.97 per barrel, nat gas never moves, 259 is where we are. let's get to gasoline, the average price for a gallon of regular $3.87, no change overnight is up 30 odd cents and the last month and diesel,

$4.34. coming up joe rogan claims biden scandals are coming to light for reason, rotate. >> i would say all the stuff coming out slowly and truly about biden is on purpose. they want to get rid of him. >> put out the bad news on purpose to get rid of him that is democrats doing it. more on that. anheuser-busch, billy bush says his family would buy back bud light if in bed once downloaded. have they made a serious offer, we will find out because billy bush wants to be here. the problems keep buying piling up mortgage rates at a 21 year high, madison alworth has the real estate report after this. ♪

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stuart: 12 minutes into the trading session on friday morning it looks like bad news for the nasdaq down 126 points badly above 13100, the dow is up 95. realistic, low inventory has pushed home prices way up, mortgage rates at a 21 year high, madison alworth is at a house listing in new jersey. what is it like trying to sell the house when there is very few homes for sale. >> it is great for the seller, home like this in the first eight days on the market they had multiple offers that to ask for best and final in less than two weeks, the problem the seller has to find a home of their own to move into, the reality right now there are so few homes going onto the market because only people that are selling are those absolutely have to sell. >> you're only going to be selling if you have a major life event such as a job transfer, divorce, death in the family

something like that will cause you to sell but right now you're not selling to go get a new backyard. >> the reason inventory is tight and expected to get tighter is because mortgage rates keep going up, they've officially hit 7% of the highest we've seen in 20 years, chief economist warned the fed is not done raising rates, if you look at the real estate market a balance market for buyers and sellers 60 maximus event in victoria available, where we are in new jersey they have two months, take this home for example the owners purchased it in 2021 for $361,000 for two years they are expected to sell this home for half a million, that is how tight the market is that's why we hear things from people like the ceo of redfin the say the housing market has hit rock bottom this year because truly the only people moving are those that have to, mortgage rates

beat a big part of that i think this is a fascinating stat, right now in terms of homeowners 60% of a mortgage rate of 3.5% or less, that 65% of people, if they sell their home to getting rid of the low mortgage rate and they have to say yes to a 7% mortgage rate that clearly spells out why people are not selling their existing homes and why we are at a stalemate and why houses like this are going like that. i'll send it back to you. stuart: you are right, it is stalemate and that's what we've got, madison thank you very much, we will see you later, the mayor of new york, ergo adams wants to turn empty office space into affordable housing, rotate. >> it's unbelievable how much empty office space sitting idly with ready and willing participants to develop the housing and we are in the way and is time to get out of the

way so we can turn the office cubicles into nice living quarters so we can address the housing crisis that we have. at the same time the office conversions will help us reimagine and revitalize our business districts. stuart: a bold step at a big problem, michael is a real estate developer and has been on the show before, he joins us now. do we know if this office conversion is profitable megabyte, popular? >> yes it is, it depends certainly where you are. in new york the market had been tough for conversion to work economically there is only three criteria the price has to be right of the existing building, has to have a clear path getting office tenants out and it needs to have risk-free zoning you have to know when you buy it you can convert it to residential by right, new york that has not

been the case it is not had risk-free zoning, our company and several others like us had not been actively seeking projects in new york because the zoning was a big risk, what adams announced this week was a great step but it only solves part of the problem zoning in manhattan is not entirely in control and he address from the city level but there's a big finance state-level with these conversions. stuart: let's suppose you have a problem with permitting or the other rules let's suppose you don't have that but it must be extremely expensive to convert an office building into livable structures, very expensive indeed and not only successful you don't want to apartment next elevator and huge beam in your living room. >> absolutely it is generally

class a mini luxury housing people don't normally build class b building when you're making a building you want to make it nice you can't have those kind of problems. it is expensive and what that boils down to these buildings are really not worth much more than the land underneath them the existing structures have some value the saves you some time and structural cost but if you look at the total amount of structural cost the structure you are reusing is probably between ten and 20% of the total construction cost unit can save you a little bit of time but massively compromises the quality of the residential experience kind of like the issue as you said then it doesn't work and it's the land value. most of these cases were seen at work the land value.

>> a fast question, the largest, the second largest developer in china has filed for bankruptcy in these are profound real estate problems in china, does that hurt us in any way, i have 30 seconds. >> i think the real estate market is not directly connected to ours i think the real estate was based on preposterous speculation if you will if you look at evergreen then $340 billion of corporate debt if you don't get the largest homebuilder in the u.s. they have $600 billion of corporate debt. their economy is 50 times as high. stuart: i'm sorry i got to go but we take your point next time come and see us in new york i hope to see you soon, it's not too late to be on the show today don't forget to send in friday feedback send in all kinds of stuff, the good, the bad and the

ugly, varney views@fox.com. i don't think joe biden is electable i don't care what the polls say, the democrats are anxious because biden hearest ticket has loser written all over it, i don't think is electable, that is my take in the next at the top of the hour ♪

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stuart: positive by to meet with leaders from korea and japan at camp david. edward lawrence is with me, the meetings, as new fox polls show voters are not happy with bidenomics. >> president joe biden fighting uphill battle to convince people that bidenomics is working in fox news polling showing a majority of americans who the president as making the economy worse, look at how this breaks down, 56% of independent voters say the president made the economy worse, you need them in an election for the condition of the economy the number going to the wrong direction eight out of ten registered voters see the economy as poor or only fair.

>> in the clinton days it was economy stupid that was the mantra the same holds through today, i know in our district three things the rising cost of food, fuel and fertilizer in joe biden has done this to the making people. he targeted the fossil fuel industry and put the crosshairs on the backs of the american people. >> if you ask anybody in this building they will point to the low unemployment rate in the fact that wages are rising faster than inflation only for the past three months, the president rushes over the fact that inflation spiked in large part because of his policies from day one in office, still this week the white house pinning economic hopes on the inflation reduction act. >> i think it's a complicated bill and also reduce cost and i think it's important to note that both on the healthcare and as i noted on the energy side we've already seen costs coming

down for consumers on the healthcare side through utility rebates on energy side. >> listen to their words bringing costs down for some, the president holding a news conference later today, everyone at camp david i will be there shouting questions about the economy in the president's role because i guarantee we are not on the list to be called on for that. >> shout loud, thank you edward. were coming back for the dow industrial, we've been gone over 100 now were down 60, the nasdaq no coming back, still down 123, still ahead tammy bruce on joe rogan's claim that democrats want to get rid of biden, texas congressman lance gooden on whether he should join the debate next week. i will ask sean duffy about bitcoin which is taking a huge hit, retired navy seal chris

irwin on the military equipment crisis. the 10:00 o'clock hour is next. ♪ good luck. td ameritrade, this is anna. hi anna, this position is all over the place, help! hey professor, subscriptions are down but that's only an estimated 15% of their valuation. do you think the market is overreacting? how'd you know that? the company profile tool, in thinkorswim®. yes, i love you!! please ignore that. td ameritrade. award-winning customer service that has your back. my husband and i have never been more active. shingles doesn't care. i go to spin classes with my coworkers. good for you, shingles doesn't care. because no matter how healthy you feel, your risk of shingles sharply increases after age 50. but shingrix protects.

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