♪ ♪ imus in the morning >> good morning, everyone. you are about to see a very modest rebound for stocks. no rebound at all for gold, and interest rates are staying at their new higher levels. ben bernanke signaled an end to

the 30-year down trend and the cost of borrowing money and the markets are just getting used to it. the headline from china, credit crunch has eased and the economy is clearly slowing than that will affect us. the headline from washington, food stamps killed the farm bill. too many cuts for the democrats, not enough the republicans. the first day of summer, the longest day of the year and "varney & company" is about to begin.

>> look at that. good morning, "varney & company" viewers, today is friday, june 21st, yes, the summer solstice. more than 20,000 pagan losers gathered at stonehenge in southern england welcoming in the new season. and they do it every year. and mostly for drug related offenses, there we go. we showed you. and ben reversed the 30-year long decline in interest rates

and markets have been feeling it for two days, look where we'll open, a modest bbunce nor the dow, 50, 60 points after a 560 point loss in two days and now look at gold. a huge selloff there, back up maybe 7 bucks at 1293. most important of all. interest rates, look at the yield on the 10-year treasury bond. we're up to 240 over the past couple of days and that's where we are today. no letup in the interest rate increase that we've seen. here is ed butowsky from dallas, dallas that would be, sto sorry, texas. do you think the selloff this week is too much too fast? >> no, i think it's fairly predictable. what he is happened here is the fed prints money and they buy bonds. when they have for a long time pushing interest rates lower as a result of the being of the bonds and now they said, hey, we're going to slow this thing down as a result of that interest rates are going to

creep higher, which then, and this is a key point, stuart, puts reserve on the valuation model of stocks, and so this is predictable to see a selloff because the valuations aren't as attractive. hold on. i know you think in the slightly longer term, stocks are going up. i have to ask you about that. we've got a couple of minutes to go and the markets will open and you will watch that open live.

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♪ get back, get back to where you once belonged♪ >> nothing wrong with a little beatles on a summer friday. and a day investors look to get back or they'd love to get back some of the losses of the past couple of days. where can you make any money today? we'll look for you, and see if you can find something. we're a minute from the opening bell. larry levin in chicago. what do you think, larry. the markets overreacting to the feds? >> i don't know about overreacting, actually, this is keen kind of the news the investing world is waiting for. when is the fed slowing down the buying they're doingment and they decided they'll do that and haven't given the act date, but hinted. and that's what the market is 1 looking for, stuart, we've seen

a couple of big selloffs the last couple of days because of that and i think there's more to come even though we're hoping higher today. stuart: more to come. larry, we heard it. now, we are going to get, i called it earlier, a modest bounce when that bell stops ringing and they do start trading. maybe, 50, 60 points up on the dow jones average and that's a very weak rebound after a 560 point loss in two days, here we go. the opening trend is a little higher, up 2 points, 20 points, okay, we're up. 20 points higher after what, a half meant's worth of business, and 22 now. keep a close eye on that. what kind of a bounce are we going to get if any. he want to show you a quick snapshot off the 30 stocks in the dow, if it's green, it's up. if it's red, it's down. and lot a bad opening, the dow is now up 40 and we've got 28 of the 30 dow stocks on the upside we'll keep an eye on that as well and a sense of the market. a quarter of disappointing

sales. and larry ellison told get ready for big cloud news next week and make a series of startling investment announcements, i should say. several companies included in that. microsoft, salesforce.com and oracle stock has been up 20% since last june and this morning, bad earnings killing it, down 7% at oracle. we've got a rollercoaster for the markets this week after ben's big announcement on wednesday, so, nicole, open it up this friday morning. can you see any big rebounds for big named companies? >> well, you have some names on the dow jones industrials that are doing well. ge, pfizer, merck, and facebook, tesla up, plenty of winners today. stuart: that's a modest bounce for three big names. dow jones industrial averagg is up 60 points, a gain of .4%. some are up and the overall

market is up a very little. i want to come back to ed butowsky, you think that stocks are undervalued and will eventually wipe out the losses and market will go higher am i -psummarizing your position correctly. >> perfectly. i mean, stocks right now on a valuation basis are very undervalued. the one thing that i fear, out of greece today, i fear a major event geopolitically that will affect earnings. a lot of things are going on around the world. you stated earlier perfectly about china slowing down and europe, all of those keep me up at night. it's not so much interest rates going higher. >> look, the dow is up 90 points and bring our viewers up to speed on this one. up 89, 90 points, okay. it's not much of a rebound, but you think it's the start of something? so let me ask you this, are you buying stocks this morning on behalf of your clients?

>> no, i'm not especially today we have triple witching day, option expiration, you used the word rollercoaster, and that's what i'm going to use. we'll be all over the place and we have a systemic investments and that-- i am getting my butt kicked on gold, stuart. i put some money in there the last time i was on and something i'm starting to look at and look in the bottom, but that's a tough one to call. stuart: you're looking to bottom fish. and you don't think that we've hit the bottom at 1290. >> i was confident we hit the bottom last tight i was on, i son it aough oneecse coodity price an't as liquid as s ic i don't ych, 23% my clnt's ptfiosnd thas sothinthatonces meith go. i ink havsome deatiory wldwi prsurethatre gng t ke theold pces going lor an bau that,

at's t o thatommdity th i thihateoe a gog toeel lotpain. andhey might stay down for a while. >> i wish you luck, managing money on a rollercoaster ride. good luck, ed butowsky. >> thanks, stuart. stuart: now, thii, take a look at dramatic video out of brazil. billing protests, 1 million people marched across the to hold that small transportation fare increase. this was a mostly peaceful demonstration across the country and you see a little bit of violence there and some of it did break out, especially in rio de janeiro. what you're looking at is social unrest on a mass scale, in a formerly very stable democracy in latin america. that's not a good sign. all right, i've got a winner for you. a company that runs olive garden, red lobster, garden restaurants is up. in a market like this, that's a winner. nicole, you want to explain it?

. nicole: you can see that darden would operate-- i thought it was down, i didn't want to say anything. stuart: it's down, i'm sorry i got it wrong. nicole: they had a good decent quarter, but it's a winner, you're right a winner year to date. >> well, look, we're looking. i know people are watching the show and they want to know, look, where are my stocks, what's going on with my stocks and i'm looking to see if there's any nice rebound for any of them. not seeing much. nicole: i have good ones, tesla and facebook are winners and home builders. stuart: not bad. thanks so much, nicole. let' go to politics for a second. another example that congress just can't cut. the farm bill in the house, republicans wanted to cut the food stamp programs and add a work requirement.

democrats didn't like that. democrats wanted to cut farm programs and republicans didn't like that. the result the farm bill is dead. and sir, congress, i'm referring to both sides of the aisle, you can't cut anything, can you? >> well, stuart, i would point out, this is what of course america voted for last november. divided government, democratic senate, republican house. republican-- democratic white house, and they essentially voted for the status quo, and as a consequence, you see today, you saw yesterday essentially the same thing you saw when the farm bill wasn't brought to the floor because of the fear that just this outcome would occur. >> did yoo vote for it or against it. >> stuart, i voted for it. i sort of held through the amendment process because there were amendments that were important to me. let me just mention a couple. virginia fox a great amendmeet that would have capped the crop insurance payments, would of

held them to within 10% of cbo projection. that's an incredibly forward leaning pro cement. if we could apply that to medicare and medicaid and put those on the budget where they belong we could change the direction of the country. >> it didn't pass, did it, sir. that amendmmnt? >> yes, it did, and many got in and of course, the amendment as you pointed out added the work requirement and further cut the food stamp program. no, it didn't cut enough and didn't give enough leverage going in and talking to the senate. i know, i have farmers in my family and i know people watch and c-span and didn't pass and the cheer that went up from the democrats is something that i think is going to resonate in the farming community. this was, you know, farm poy

policy and food stamp shouldn't be in one and that's what we had yesterday and maybe now we can get on the business of farm policy as farm policy and food stamp as food stamp policy. stuart: what is next? where do we go from here. >> if nothing else happens, you go back to the farm policy in 1948 and that will be startling to some people if that happens. does that mean -- no farm price support. >> correct e what about food stamps? >> well, you know, here is the sad part about this. the food stamps are a entitlement program and they're on autopilot and you don't say we'll eliminate both programs, that doesn't happen. you end up be disrupting to the farming community, but the food stamps endure without. change.

and the shame we have an opportunity here. stuart: i'm sorry i'm flat out of time. a very active market this morning. representative, thank you for joining us, i appreciate it. >> thank you. stuart: by the way, the dow is now up 67 points, okay? we were up 90, almost 100 and now we're up 67. that's not much of a rebound, is it? this is something i just don't get. the fascination with zombies. that being said, it's big business, hundreds of millions in the entertainment business at stake here, what's the big headline this weekend. the zombie apocalypse. why are walking dead so popular? we'll seek an explanation 10:00 this morning eastern time. about 60 seconds to tell us what else we're watching for you. here we go. how much time do you think the mainstream media spends on the story on the irs handing out 70 million in bonuses? we'll talk to a 23-year-old running for congress. he is a conservative and he's

worried about america's future. plus, a u.s. soccer star, alex morgan, on when she could make serious money in her sport in the united states. and don't forget, please, all next week, an extra hour of "varney & company." 9:15 is the start time, all the way through noon. and big lineup of guests coming up. it's going to be a very big week. they're partying at stonehenge for the summer solstice. i call them pagan losers, europeans who have abandoned relegs and cost them. and a fellow european who joins us on that subject. ♪ clients are always learning more

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how old is the oldest person you've known? we gave people a sticker and had them show us. we learned a lot of us have known someone who's lived well into their 90s. and that's a great thing. but even though wee living longer, one thing that hasn't changed much ♪ the question is how do you make sure you have the money you need to eoy all of these yes. ♪

>> not much of a recovery, is it? the dow is up 75. remember, please, down 560 in two days. now look at the price of oil. that's not recovery at all. we've dropped over $2 a barrel the last couple of days and now down another 28 cents at 94. a summer solstice celebration at stonehenge in england. cops say 22 people arrested and mostly to drug offenses. and here is why we're raising this issue. does europe's lack of spirituality make them economic losers? that's our first question. the european refugees veronique, good to have you with us. is there a relationship? i say europe is no longer a spiritual christian continent and at the same time, they are going down economically. it's a relationship between the two? >> i don't know whether there's a direct relationship, but i can see the parallels for it.

so, i mean, europe was by pagans before the beginning of christianity and they believe in gigantic supersition, what would make the earth fertile and what would make a good harvest and the vikings believed in plunder and today, leaders believe in a lot of supersition, but what they believe in and worship at the altar of lord king and i would call it supersition if you raise taxes you're going to grow the economy and make it productive. stuart: they don't really understand america, do they? europeans look over here and don't get it, i don't think. >> no, i mean, i think you're right. and i mean, they also don't get, they don't get the paradox, what they think is a paradox of a country that is very christian and yet, believe

in separation of state and church. and it's because i don't think they have a clear understanding of the first amendment. stuart: i'm glad you addressed this question for us. it is the summer solstice and they've got the people dancing around stonehenge. what is the trouble with greece? they may not get the imf loan. tell me what's going on? >> one of the things that very few people acknowledge. greece hasn't been spending as much as it should have to the point that people love their jobs, it hasn't been in the public sector at all. there's been a lot of private sector austerity in the form of higher taxes. a gigantic burden on the private sectorr and they're just not getting their house in order. and they look, and there's just, kind of somewhat rioting in the street because they're going to put an end to public broadcasting. these people, i don't know what

they're thinking about, and i mean, i think they, they truly believe that they can go on, live the way they've been living, which led to their demise and that everyone is going to pay for them. and the imf is saying, i don't think so. >> you and i have been talking about this for at least two years, this endless problem with europe and the euro and the rest of it. and when are we going to come to an end point where either things are definitively settled or the euro breaks up? have you got a time frame in mind? >> you know, i-- to be honest, i was wrong about this. i actually assumed that greece would have collapsed sooner than it has. so, i'm not-- i've never been very good at making predictions because there are so many moving parts, but i think that the way it will end in two ways, either they all get their act together and a low probability to that or actually one of the countries, one of the them,

like greece or portugal. one of them gets out. it will be a great, you know, chaos, you can call this. i mean, there's going to be a lot of movement. it's not going to be all good and maybe hopefully some equilibrium and balance out of that. >> those europeans, i tell you, you've got to shake your head. welcome to america. >> thank you, stuart. stuart: thanks a lot. 9:49 eastern. let's give you the gold report. where are we? the price of gold is up eight bucks and that's not a recovery. down just about $100 in a few days. and back up aid is not a -- back up 8 is not. and my take on cheap money and the first home i ever bought. that's next. ♪

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>> looked like a black helicopter to me. that was a clip from the new movie "world war z", brad pitt, the blockbuster expected to be huge. in the next hour, why do eople love zombies so much? and he helped to reopen the jersey shore this summer and we're talking to her about that. how much time did the media talk about the 70 million in bonuses at the irs? we have that number, it's low. all that and more new at 10:00. here is my take on what ben just did. he reversed a 30-year trend. since the reagan years, the cost of borrowing money has gradually come down and now ben bernanke has signaled that it will start to go up. it's a very big deal.

that's why all hell broke loose when he told the world about it. and a little history, i bought my first house in 1977. is that it? that's it. you got a picture. that's it. i didn't know that. it was a very small-- the one on the left-hand side, very small. it was a fixer upper in san francisco. i paid $60,000 for it. i had to put 20% down and i had to come up with that money myself. couldn't borrow it. the mortgage rate, 12 1/2%. i was happy to pay it because rates were going up rapidly. i had to get in fast and i did. within a couple of years, mortgages hit 16%. that was '81, '82. from there on out, rates came down and three decades later, earlier this year, the 30-year fixed rate mortgage hit a low around 3 1/2%. during that long decline, the dow went from 700 to 15,000.

there is a relationship between the cost of borrowing money and the performance of the stock market. and now you can see why ben's reversal of the trend is such a big deal. the free money era is over. by the way, i sold that $60,000 san francisco house for $107,000. i thought i was a real estate genius. and then a few years ago, at the height of the real estate bubble, i went back, and i checked out my old house, very disappointing. it had been taken over by 3 c1 leftists who had decorated the place with peace signs and pot plants and i also checked out the house's value. wait for it, $780,000. i wouldn't want to be buying that with a 12.5% mortgage. t investment objectives, ideas, goals, appetite for risk. you can't say 'one size fits all'. it doesn't. that's crazy. we're all totally different.

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some of the summer solstice the longest day of the year and look what we have got for you. brent bozell, the media continues to ignore the irs scandal. ron meyer, the youngest person running for congress, he is 23, he is a republican. alex morgan, one gold in london for american soccer, she is with us and we bring you world war the with brad peck but why on earth are as somber mood -- is on the movies popular. it is friday. ♪

stuart: day 3 after bent gave us the extraordinary statement about curtailing the amount of money is going to print, this is not much of a rebound. 51 points higher after the dow dropped 500 in the last couple days. we are up 49 after 30 minutes of business. another market that took a huge hit was bowl. no significant rebound, 1296 is surprise, it is up $9, about ten days ago we were up $1,400 so no recovery there. ed butowksi was with us at our ago. he says this is overdone, much selling, buy because stocks are going to go up some more in the future, i you buying? charles: i cannot wait to get in.

so many things i can't wait to buy but i went by on a friday we today massive sellout and a feeble open friday morning. i do agree from a fundamental point of view, sometimes irrational stuff takes a hold of the market as well. and our subscribers have 25% cash by the week so i have been waiting for this. stuart: the emerging market, smaller markets around world, they got creamed, not worse than wall street because of the slowdown in china and the credit crunch in china. charles: i love the theme of global economies, countries we never talk about the people think heavily dirt roads growing for the next one -- 10 or 20 years, more growth than america where american companies make a lot of money. stuart: long-term view from charles payne. charles: the long term used in air rather than later. stuart: all politics all the

time. what do you think about ben? >> this could not go on forever although i think a lot of people expected it and it may go on forever but what you see in the market is an anticipatory reaction to what ultimately will happen. the fact they started a time frame on the tapering starting to pull back think they got a lot of people nervous. the market is the only place where all these trillions of dollars -- stuart: you disappointed me. i thought you would jump on the opportunity to say barack obama has no support anymore, ben has withdrawn vocal key jar and the economy is on its own. >> that may be the case as well. the obama economy has sucked for the last five years what could be different now? stuart: got to show you oracle. bad sales numbers, that is still a%. larry ellison, he is the guy at oracle, talking a dramatic,

startling announcement, not helping the stock, barely above 30 as we speak. come done in because we are looking for winners on this particular day and you have got a couple. >> i have a lot of winners, some names we watched closely looking at facebook, tesla, car macs sold more used cars, facebook with their new video edition to instantgramm and to asthma made it through the recall, problems with the seat, 1200 cards for that, but it is up 300 and deal. stuart: thanks for looking. the farm bill, let's get to politics, the farm bill was killed because congress can't agree to cut anything so it seems to me. republicans want to cut the food stamp program and offering a 3% cut in the money spent on it for the work requirement and democrats didn't like that. on the other side of the aisle

republicans objected to cuts in farm support programs. come on, both sides of the aisle the way politics is these days you can't cut anything. >> congress cannot restrain itself from spending us into oblivion and we have a big influence of tea party members on the house side and the senate side, they are trying to do their best to restrain spending but still relatively small group which is why we need to get them back up with every single election cycle. they can't stop themselves with special interests giving out farm subsidies which is completely wrong. soviet-style farm subsidies. and it is completely wrong. charles: this is a big loss for john boehner. >> she was completely wrong to support the bill as well. democrats wanted to keep the food stamp program where it is that this huge level, forty-eight million people on food stamps in america. that is more than the population

of spain, record level and that is a disgrace. democrats wanted to lock that into place, republicans said no. they wanted a 3% cut. cuts would not go for that. and the republicans are at fault for wanting to continue soviet-style subsidies to things like nook. charles: a lot of rich farmers get those subsidies and don't really help the little guy and a lot of people object to that as well. stuart: we reported be made a big deal of this that the irs is going to pay out $70 million in employee bonuses but the mainstream media, i don't think they covered it at all. let's bring the expert of mainstream media, brent bozell. how much time, let's restrict ourselves to the irs $70 million bonuses. how much time did the media spend on that story?

>> cbs gave it 47 seconds. stuart: that is it? >> this is one more irs scandal in this cascading series of scandals the media don't want to report. when we find out that a thousand irs agents have been abusing their credit cards that is not news. when you find that the irs is ordering a secret spy equipment cameras have to hide, to hide in ashtrays, to spy on people, that is not news when the head of the fbi is asked who is in charge of the investigation into the irs and the head of the fbi says he doesn't know. this scandal.solved anything on we don't know who gave the orders or who was involved or why, we don't know when, we

don't know -- and still there is no interest. i got to tell you the media, the national news media, the national news media are aiding and abetting a censorship campaign. stuart: your answer to my question was 1 minute and 3 seconds. that means it was 16 seconds longer than the time cvs spend on the $70 million irs bonus. >> 15 seconds longer than anyone has been done this investigation on this story. stuart: a couple days ago there was a big protest, a big demonstration, big meeting in washington d.c.. 10 cruise, a tea party meeting and they were calling for an audience of the how much time did the media spend on it? >> i spoke there. thousands of people. what was covered? stuart: nothing.

>> nothing at all. if you have 10 occupy wall street people you know it would be national news. this is a deliberate decision. this is not a mistake. this is a deliberate decision by the news media not to cover this scandal. stuart: is it possible -- maybe viewers -- if you keep one single story in the spotlight for weeks and weeks on end the viewing public does grow tired of it or they want something else. you could explain it that way, couldn't you? >> all i have got to say is george bush issthe national guard story, in 1971 so many things involving him were covered and covered and covered, they wouldn't let them go. this is the nature of coverage of republicans, the nature of coverage of democrats, bill o'reilly said a couple weeks ago the strategy of the obama

administration is for the american people to get tired and have it go away. it will go away if no one reported. stuart: next week fresh irs hearings in congress, we will be covering it but come back and tell us who else covers it. we would love to see again. >> when indictments are going out that is when coverage will start. stuart: i am holding my breath. thank you very much. the center for union facts, that is an anti union organization, running this ad. it is a print me add that i will quote from it. richard trumka, a man we usually disagree with on this show wants to give workers the right not to join the union. richard berman joins us right now. you -- you are an anti-union group. you are not particularly keen on unions and you're running an ad saying we want workers to have the right not to join a union.

do you feel that the country is moving in your direction politically? >> let me correct you first. we are not anti union. i am pro employee. we are supporting something called the employee rights act which is just about transferring power from unions back to employees because the law that set up unions as you know them today hasn't been changed since 1947. i am not against collective bargaining. we are not supporting a right to work law although i do philosophically support it but the employee rights act is just saying people when they want to consider joining a union not to have a secret ballot vote. today about a third of the union elections are not real elections. they are forced on employees through signing cards and the unions intimidating employers to accept those cards as votes when everyone knows those are not real votes. this is going on in las vegas where unions are trying to

intimidate. one casino, a chain of casinos into accepting these cards as votes and forcing people into unions. stuart: when it won't happen. regardless whose side i am on or the show is on or anybody else, this is not going to pass, is it? >> most major legislation does not get passed from the day it is first introduced and a couple of months of hearings on to and some votes. this is something that takes a long time, takes a while for a radical it and it is changing basic labor law to percolate into a mainstream law. it has 80% approval and 80% approval from union households so this is going to pass and we have to start a narrative in this country about how people's rights of being hijacked by the unions and the only people who are benefiting from that hijacking i the union leadership. stuart: we hear you and appreciate you being with us

today. thank you. before we get to the samsung story on want to show you the big board again because this is not much of a rebound. we are up 50 points. got to keep an eye on this all day long. it is quadruple beijing today, current exploration of future and what is happening. that is the affect trading in the last hour. i am concentrating on where we are right now and we are not up much. after a couple days of worth of very heavy selling. samsung stock price in career took a big hit in the last couple weeks. $27 billion worth of market value were wiped out. will a new, cheaper, smaller smart phone be the saving grace? standby. our president, clayton morris, is next. >> girls in a dorm room, college men now. is going to be a great year.

stuart: been reversed a decline in interest rates, markets took a hit. not much of a rebound, a 45 and that is it. we are up $7. facebook unveiled its sharing service. and 15 seconds video, facebook stock moving hire. miami heat, what was that game

for the nba championship. it was 95-80. and escort did not do as well. a mini version of it, clayton morris is here next. friday night, buy.

you are gonna need a wingman. and my cash back keeps the party going. but my airline miles take it worldwide. [ male announcer ] it shouldn't be this hard. with creditcards.com, it's easy to search hundreds of cards and apply online. creditcards.com. stuart: charles is going to try to make us some money. what did they do?

charles: 3d companies we talk about week ago made a huge acquisition. a company that was up $4 and gave a lot of vice yesterday and some pressure today but this is a huge deal for the company, maybe $400 million when they finish but to give them access to the desktop their professional big ones. ultimately this is going to really put them at the top. stuart: the 3d printing co.. no relation -- i was told that boeing uses 3d printers to make 20,000 parts for the dreamliner. its planes. charles: 3d printing is big, huge. don: you like this. stuart: down sharply. charles: to 100. shall we move on? samsung has released a stripped-down mini version of the galaxy s 4 smart phone trying to reclaim lost ground. the company has cut its july

sales by 50%, and it apparently continued to slide. here s clayton morris. >> rihanna slow period, not holiday spread, we don't see new phones typically in that field until the fall but we're seeing a softening of the smart phone market and competing on high end so they blowout the galaxy s 4. this is the bad boy, this is a full-featured pact phone that held the big event at rockefeller center, dancers and celebrities and everything but turned out people are not turning out so much for this phone they thought they would. it is hard to say but it looks like you have the likes of sony being strong in matane, that is an aree samsung thought it could compete with strongly in japan they haven't been able to. apple has proven consistently the i phone v people are willing to pay a premium. people see samsung furrowing like a big plate of spaghetti against the wall hoping these

products will stick. some will stick and some will fall off of the ball. samsung for the latka it features that the blend of people believe. this thing is filled with too much blood and they're not buying it. stuart: they have a stripped-down version of that phone. >> this is where apple has conceded some space, apple plays in higher space, people willing to pay $500 for a smart phone. apple doesn't have a low-cost phones those samsung rolls out three different versions of the samson galaxy line hoping for some stripped-down features. stuart: j z is releasing his latest album for 1 million galaxy users three days before the general public gets his new album. you know something of this. >> it is all gillicky. kids are not buying albums. they're going to youtube.

if they want this lower demographic segment i don't know that will be the convincing thing that i need to buy a phone right now but it is coming out on smart phone three days. charles: the album leaked a few days ago and everyone has it already. it is more for the pull factor. >> when you have felicia keys at the blackberry event and is the bland ambassador for blackberry. she ended up tweeting from an iphone. i don't know if these gimmicks worked. stuart: samsung which was moving up the pull scale rapidly and in some respects beating apple, moving down the other side. >> seeing a softening of the high market, we will see these phones work force. stuart: the blackberry. is that rotary phone? very funny.

charles: low signal phone. carrier pigeon. stuart: thank you so much. thank you. sequester? what sequester? how about a $45,000 bloody mary, that would be good, your tax dollars pay for it. that and more outrageous federal spending after this. monica has something to say about it.

stuart: got to? on top of this market. and won't say this is a rebound. when your up 20 or 500 down that is not a rebound. senator tom coburn back on the attack highlighting wasteful government spending. this time his target is the agriculture department. he reports the agency spent $44,000 on a bloody mary mix. thousands more to help vineyard across the country as well as the competition for asian chefs and the social media campaign of pickles. that is what got me. >> repeat the last one. paying for social media for pickles, inanimate objects. stuart: the agriculture department, stretch your point. >> not the pickles but the housing subsidies for markets veneered which is not exactly a bucket of poverty in america. cockburn is a real hero because everyone's a while put out

reports about extravagant government spending and we need taxpayers' spending. this is our hard earned money going to these ridiculous special interests, the all-time favorite was in the original stimulus in 2009, we pass the half-million dollars for gained tattoo remooal. anytime we hear this we get outraged that the congress cannot stop itself from spending as into oblivion. and both sides of this. charles: ultimately we spend people to d.c. to mood the joint. anyone time someone been -- wins election this is what i looted from d.c. and why i should be elected. it is taught for politicians to say i didn't lose anything can you re-elect me? charles: can you neil: you get elected if you sat will cut food stamps or agricultural support, no more pickles on facebook, i am going to cut the lot. you couldn't get elected

dogcatcher could you? >> tea party candidates who actually walk the walk once they get to washington, people like ted crews and so on. and into the bermuda triangle, wasteful government spending you can bring home the bacon so you can get reelected. this is the problem of government. they did not have a profit motive. the motive is just get reelected. stuart: you better be careful, talking about the tea party in a positive way you get audited. be careful. >> it is coming any second now. stuart: this is no recovery, not much of a bell. 30 points higher is all you got. let's move to the next guest, on a private jet company, try to convince me to fly in one. joining me is alex, you run jet sweet. that is your company. is that correct? >> that is right in california. stuart: we have at least half a

dozen private jet companies that want my business. how does jets wheat set itself apart from the likes of jump seat or net jets and all the rest of them? >> there are a lot of different brands and models that jets weeks distinguishing factors we talk about half of what the operators will charge you. even if the half of what you pay there are another fractional operator. stuart: that is where i am buying a share in the jet operation. a factory -- >> they will make you buy 16 or -pmore of an airplane before th let you on board. you are exposed to capital costs and residual value challenges. we take money from everybody, frankly. you don't have to be able to afford a part of a jetliner to be on board. stuart: if i say to you i want to fly in an airport next to

your city, i want to fly from there to palm beach, supposing i am rich, from there to there, she will you charge me? >> it is 20% of the market in new york, just to southern florida. 10 or $11,000, but we get a quote on our web site which will show you for many market in the country exactly what is going to cost to the penny. we are completely transparent with a lot of people talking on our section of the market. stuart: when is that $11,000 new york to palm beach, how many passengers on that jet? >> seven passengers. stuart: is it round trip? >> each way. stuart: $20,000 to seven passengers new york to palm beach private jet. all right. last word, ten seconds for more commercials. go. >> for me, the price to the

kenny. only jets week doesn't make you buy a share of the airplane. stuart: we hear you. alex wilcox, thanks for joining us. we are interested in a private jet market, not just me but a lot of people expanding rapidly. the zombie business. hundreds of millions of dollars to be made. why? tell me? what is the fascination with the walking dead? can you tell me? we will try to offer an explanation after this.

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stuart: this is times square. it is also the summer solstice, it is traditional that some people do yoga.

we will explain. >> take me, take me. >> brad pitt's movie is called world war z. hit the theaters tonight. i am told zombie fishing brings in hundreds of millions of dollars and is quite the fashion. you are youngster. you want to explain it to me? >> they better hope it brings in hundreds of millions, it costs $2 million to make the zombie movies have been around a long time. the classic example is net of the living dead from 1968. there has been a resurgence the last few years. i think it started with the 2009 book pride and prejudice in zombies which was a huge cult hit and is being made into a

film starring lily collins. it started there and has a literary pedigree so to speak. this is what zombie fascinate s because our minds make us human. they set us apart from other animals. human beings without mines the look to eat the brains of other human beings is particularly horrifying to us. i am always interested in what we are horrified by. stuart: we are? you think this is kind of a fashion among young people? >> these films are extremely popular, one that started a whole new genre is sean of the

dead. started the genre of the horror comedy. that had a lot of comedy and you are seeing more films like that. this is the end in theaters right now, seth road and ask directorial debut takes place in an apocalypse and is also a comedy. these things are starting a whole new genre. here's the other thing that is interesting because it is horrifying is cannibalism. please to see cannibalism as an emergency. willie went to each other people if we have to to survive but these zombies, human beings eating other human beings not to survive but because they want to because they find and tasty. stuart: this is friday, talking about pagan losers on this program but you are joking. >> i wish i were completely joking. what do people want to see in the movies? they want to be completed and

want an escape or want to have their worst fears realized suppose they can get them out in the movies and not have them in their nightmares. stuart: our producers wanted to make it look like dzhokar tsarnaev had become zombie 5 and can open the graphic -- i am in there too behind prison bars. >> we are a little tired of vampires. we have moved donnelly and our quarter. stuart: i would like to see a movie like they used to make movies back in the day when there was character development and acting and wasn't all live-action and beating other people's brains. >> you hit on another thing, to

find really great actors and everyone focusing on special effects, a popular movie with zombie is doesn't matter how good an actor they are, just look brain dead and that is pretty easy for people in los angeles. >> that was your best line of the day. >> we do appreciate it. for more on the subject from charles. you do not have anything to say about this. robert: monica -- charles: the more unbelievable part is not the zombie part but the u.n. doing something to save the world. >> i don't think so. i like war films like this and i like apocalyptic. charles: hollywood doesn't have imagination and more.

it is just about special effects. hold on a bit. let's get to some real stuff. you couldn't resist. young people growing more pessimistic, so much for increasing their quality of life. we have a surprising number for you on that. i want to make ings more secure.

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stuart: the dow's close to 1 and the points, down a fraction, no rebound clearly. bold not bouncing back much either. we are up $5 and that is not a rebound after $100 decline. samsung has announced its downsized version of a galaxy as 4. smaller, cheaper, lighter model is aimed to be at the lower end of the price scale. and the rest warranties for tight end aaron hernandez in connection with the shooting death of a 27-year-old man. a warrant has been issued for obstruction of justice but the charges could be upgraded. state police expected to arrest fernandez to the. majority the americans think the next generation will have a lower standard of living. 23-year-old running for congress, he wants to change

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a friend under water is something letely different. i met a turtle friend today. avo: whatever you're looking for, expedia hamore ways to help you find yours. stuart: ago we were in negative territory, now we are plus 19 as where we stand at this moment. american -- wait for this. americans, 15 and older, spend only three hours and 32 minutes a day on work-related activities. the time spent working went down, leisure time went up to 5

hours and 22 minutes a day. this is an average. older people who don't work at all. charles: or younger people. a lot of them don't werke there. we are a chill out nation. two hours and 50 minutes watching tv, two hours and 30 minutes on leisure activities, not including tv. eight hours of sleep. not only are we the leisure society but eight hours of sleep i can't remember when i last thought we'd hours of sleep but what blows you away as work-related activity, 3 hours and 32 minutes as a country. stuart: everybody over 15 has some kind of leisure activity. charles: 150 years ago it would be the exact opposite. stuart: if you say to young

people you don't work you won't get elected. charles: even though fought as a working less their spending time with kids. stuart: thank you for the silver lining. charles: probably i am jealous. stuart: another new pull kind of startling, 56% of people believe the next generation will have a lower standard of living than today. joining us now is one of the young people, ron meyer's, 23, he is running for congress in virginia on the premise of savings and next generation from a debt ridden government. welcome to the program. >> thank you, appreciate being on. stuart: i use the official republican candidate in your district? >> we don't have any challenger's right now and looks like we have the support to be the nominee but we still have to go through the process. stuart: when you are a conservative. if you say you got to get the debt-laden government off my back you are a conservative bent

you are not typical of your age group. >> i would say no but we have a message that resonates with all young people. when you are talking about the next generation, talking about being worse off young people are already feeling the. we are in the depression right now. use unemployment hasn't been this bad, structural unemployment hasn't been this bad since the great depression and when we look at really have four and ten young americans under 30 with full time jobs. how pathetic is that? stuart: they didn't bite on that in the last election. young people -- women's rights, they bit on social issues, they did not go after the prospect of jobs and prosperity. >> we have to do one of two things. you have to show up and you have to have a good message. we did not show up on college campuses, we did not knock younkers specially minority communities, we did not show up, we did not go face-to-face.

you have to build relationships for them to listen to your message. young people are suffering and i don't think we have politicians who are talking to young people face to face, we understand what they're going through. i have friends who understand where they're going through. and we have to offer what republicans should be offering and the more perfect union not a slower decline, not one that says the debt will take this down the we have to manage it. we have to promise something better to employ young people and get a balanced budget and have a brighter promise, we have to be out there supporting that. stuart: we do hear you and i hope you will come back and see us again. we want to know what the response was among those young people taking them your message. come back and see us. a bucket of a bounce back. the dow is up 36. is not a rebound from the losses but we were down in negative territory, we are up 34.

alex morgan, soccer star, olympian kicking off some are at the jersey shore and she will be with us in just a moment. we went out and asked people a simple question: how old is the oldest person you've known? we gave people a sticker and d them show us. we learned a lot of us have known someone who's lived well into their 90s. and that's a great thing. but even though we're living longer, one thing that hasn't changed much is the official retirement age. ♪ the question is how do you make sure you have the money you need to enjoy all of these years. ♪

stuart: now is the time we will bring you american soccer star and a limping gold medalist alex morgan joining us from the jersey shore. you are doing something wonderful. i live in jersey. i want to see my great state recover and i and thank you are helping. you are telling everybody the shore is open for business again. >> i am here at the jersey shore declaring it open for summer. peter: when you got a lot of press, a lot of publicity, very good weather in the background. >> it is perfect, the start of summer and i'm excited to be out here. it could be better weather than it is right now. stuart: i have to ask you a question. this is a financial program. forgive me for asking. do you think there will come the day when you can make a good living, say $100,000 a year

solely by playing soccer professionally in america? >> this is my only job. i play soccer for a living so i would have to say i am very happy with where my position is but i hope will lead of the league in the u.s. continues to improve where other players are able to make enough to make a career out of this. stuart: we hope you succeed and we thank you for supporting the shoreline of new jersey as they come back from the storm. thanks a lot. appreciate it. another flower of "varney and company" next week, we will bring you moron that after this. [ male announcer ] need help keepng your digestive balance in sync?

try align. it's the number one ge recommeed probiotic that helps maintain digestive balance. ♪ stay in the groove with align. you are gonna need a wingman. and my cash ba keeps the party going. but my airline mes take it worldwide. [ male announcer ] it shouldn't be this hard. with creditcards.com, it's easy to search hundreds of cards and apply online. creditcards.m. stuart: all right, everybody, get ready for next week. we will go from 9:15 a.m. until

12 noon. all-star lineup for you. steve forbes, grover norquist, amongst any. are you ready? >> we are always ready. charles: always ready. stuart: you have a breaking story. additional information on doug shuman, his political aide, a number of visit to the white house by his political aide. >> yes. the chief of staff, a man named jonathan davis, his top political aide visited the white house between fall of 2009 and february of this year a whopping 310 times. you have to ask what is he doing in the white house.

we are supposed to trust the irs. what is he doing at the obama white house the hundred ten times. stuart: when asked why he had been there, and he said the easter egg roll with my kids. they are clamming up. i want to get to the bottom of this. we will next week with an extra hour. believe me. now here is dagen. dagen: thank you, stuart. back in the green. barely. it was poorly timed. that is what st. louis federal reserve bank is saying about

bernanke. give thanks to the pups. how it may boost productivity. all of that and so much more coming up on "market now." ♪ connell: i know you want to talk about those dogs, which we will coming up in a few minutes. top of the hour. a lot to do today. we have some team coverage. dagen: we start with nicole petallides on the floor of the new york stock exchange. nicole: a rough couple of days. down over 300 points yesterday. today is a different picture. bouncing back a little bit.