fares were raised 9 centsed a rise. millions have taken to the streets and four deaths. let's get to the speech the president will deliver to georgetown elites and will deliver it later today. and joining us now ed whitfield in kentucky where there will be a lot of coal. i said this morning, congressman, that the president is going to kill the coal industry and i don't think there's much to do about it and he's using the epa and going around you in congress. >> stuart, this is not a surprise. if you'll remember when he was a candidate for president in san francisco, he said that he would bankrupt the coal industry. it's the first time i've ever known of a candidate for president that specifically said he was going after one industry and he has precisely done that through regulatory agencies. stuart: you can't stop it, can you? if it came up for a vote in congress, that congress would probably be a failed vote, but

if he goes through the epa, he can probably do it. >> you're absolutely right. the frustrating thing about this, he is being personally responsible for the loss of thousands of jobs. he obviously does not have much interest in states like kentucky, tennessee, wyoming, where the coal industry is so vitally important and we're losing jobs dramatically and the unfortunate thing is that these decisions are being made by barack obama and his administration and they've got a little cover from the supreme court, but there has been no public debate, no public discussion about the impact and the long-term ramifications of what he's attempting to do. >> can i ask you about your area, kentucky, your state? a lot of the electricity generated in kentucky comes from coal. with these restrictions on coal fired power plants, what happens to the costs of electricity in kentucky?

>> well, electricity costs will definitely go up. and you know with mayor bloomberg giving 50 million dollars to sierra club, they're filing more and more lawsuits based on regulations against the coal industry. and stuart, i think the important thing to remember here, i do believe, also, that the president is catering to world public opinion because the total giga watts of co 2 emitted annually around the globe is naturally, it's 770 giga watts. and i want you to know that man made co 2 admissions, the total amounts to about 30 giga tons, but a lot of that is absorbed. so we're talking about a net 10 ton-- 10 giga ton of co 2 emissions becaused lie huchlts in t--

in the spectrum of things it's a small amount. >> you can't stop it? >> we're going to try to pass legislation and we had legislation in the house to stop it and harry reid and friends of president obama have not passed anything over there, but it's going to have a negative impact on us and at the same time let me just tell you something else, if we had stopped all man made emissions in the united states ten years ago. there still would be a net increase in co 2 emissions worldwide because of what's going on in china, india, asia and other parts of the world. so the president is taking action that will unloerlly damage our ability to compete in the local market place. >> congressman ed whitfield from kentucky thank you for joining us on a difficult day. >> thank you. stuart: so on "varney & company," all right. we really don't often show you

charts, don't like them, but here is the exception, look at this, this is coal stocks since president obama's reelection, straight down. in fact, the value of america's coal industry has been cut in half since november. and let's see how the coal stocks open up today, they were down a lot yesterday. in fact, stay right there, please, because the market will be opening and you can watch it live here. with fidelity's options platform, we've completely integrated every step of the process, making it easier to try filters and strategies... to get a list of equity options... evaluate them with our p&l calculator... and execute faster with our more intuitive trade ticket. i'm greg stevens, and i helped create fidelity's options platform. it's one more innotive reason serious investors are choosing fidelity. now get 200 free trades when you open an account.

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♪ >> not a bad choice of music as we head towards president obama's climate speech later on today. he's going to attack the coal industry. how bad a blow is it going to suffer? we're on the story all morning long. by the way, we go through till noon again today. we're about a minute and a half away from the opening bell. come in, larry levin, the cme. i'm looking at futures, they suggest about 100 point plus gain for the dow. i'm looking at home prices up 12% year over year and durable goods orders up 3 1/2%. nice gain. should we all sit back and relax and say, oh, the worst is over, time to buy, get back in. what do you say? >> i actually don't think so, stuart. if the fed was going to continue

the tapering, it's almost ridiculous. if the fed was going to continue and didn't get that talk, then, yeah, i'd say you want to buy good economic data. right now you want to sell good economic data. the dow is going to be up, s&p 15 on the open? a little more data 9:00 my time. 10:00 your time. and there's more taper talk to come and fed talk and talk about that situation. because of that, i think that's going to drive the market down. >> this is great for you guys, you trade minute to minute, if not second to second, our viewers are sitting back thinking what on earth am i going to do here? abuy and sell for months and years. >> your viewers have to think about each and every day, put in stops and protect the position. always protect and a lot of obviously your viewers and investors don't think about that. they hold stocks and equities until zero. you can't do that.

you've got to protect your positions. a perfect example, why that market is taking a hit. get out of the market and lightning up. stocks can help do you that. stuart: that's good advice, larry. put this that stock loss order right now. thank you very much indeed. here we go again, it's tuesday morning, we've got the news background, 12% gain in home prices year over year for the month april, over april last year. pretty strong economic numbers and here we go, we're opening to the upside. we're expecting a gain of about 100 points in the very, very early going. i have no clue where we're going to close out the session this tuesday afternoon. nobody has a clue about that. but i can tell you, we are up in the opening bell ringing. 14-7 though that's where we are, a week ago, we were at what, 15-about. and now let's look at that, up 44 here. i want to get to coal stocks, because they've taken a big hit since president obama was reelected in november of last year, a very big hit and today

he makes another anti-coal speech. right now as they're opening up. there's not a solid rebound really. some of those like walter energy was down 12% yesterday and okay, back up 2% this morning. and that's not a recovery. coal still taking it on the chin. we do have a very big and important upgrade google from jp morning. they say that google is going well over a thousand a share. have they reached 900 yet? >> let's take a look at where it is now. no, it's not. let's look, 876-84. up just a little. and j.p. morgan, and the healthy paid cliques growth and they reiterated their positive comments so up arrows for google. >> by the way, up arrows for the dow jones average.

we're up 100 points. going up a little bit. 14-7 is where we are. by the way, it's been a year since yahoo!'s chief, marisa mayer took her spot at the helm. it's gone up 50% and they're up again, at 24 today. i want to give you more on that housing price number. up 12% in april over the previous april. that's a strong number. that of course is historical in the sense it's looking to the past and doesn't take into account the higher mortgage rates we are going to get in the future. come in, tanya marco, our real estate localme. up 12%. you're seeing good numbers? >> the houses are back to 2004 numbers. this is the 11th consecutive month that the case-shiller has been up and that's great for housing. you did hit it in the head and

we haven't taken in account for a lot of change. i think a differ a little from you that that change isn't insurmountable for the housing market and the rate changed from 3 to 4% is not going to make everybody scared. it might make people dive in. i think that when we get to 6's and 7% people will pull back. stuart: no, actually i do agree with you. i mean, if you're lucky enough to get a 3 1/2% mortgage, that's terrific. if it goes to 4 1/2%, that's not such had a big deal. that's not going to make you run away from the house that you really like or you think is a good investment. so, i do agree with you. i think you've got real problems with mortgage rates when you hit 6% plus. we're not used to that and i think that would have a reaction against it, but tell me, are you seeing a rush of people trying to lock in now? >> people are starting to lock, but what's really interesting is that at least in phoenix, it's that high end market that's taking off right now because that rate is going up.

so there's a little bit more loan programs out there that people are taking advantage of. when that rate does go up, you're going to see the regional banks come back to life and so people in arizona are really taking advantage of that higher end house. and it's so interesting. stuart: yes, it is. and i hope you'll stay there for a few more minutes. we'll bring you back because i think you've got a favorite on the show, which is some of the houses that you've got on offer. what can you get for x number of dollars, will you do that for us in a couple of minutes? >> absolutely, you bet. stuart: thank you. see new a moment. a trouble survey from bank rate.com. for than three out of four people living paycheck to paycheck, with almost no emergency savings. had less than six months of emergency savings or no savings whatsoever. and more from art laffer in the bonus hour of "varney & company" you'll see that addressed.

i want to discuss the sorry situation with david koenig as well, chief guy at cumberland advisors. welcome to the program. tell me about the interest rates, the big deal in the markets. it looks like rates are going straight up. what do you say? >> well, a big deal about interest rates, you've got it and in the muni market, the tax-free market we now have very high grade tax freeze above 5%, tax equivalent of 8 1/2 or 9 depending on what state you're in. we haven't seen that in a long time. so, that sector of bonds, 3.7 trillion worth, is cheap, cheap, cheap thanks to all this fed speech. we think that that sector is so cheap that we're shifting some allocation to munis from stocks and that's a change for us in the last few days, but it's a important to grab because it's not going to be around long. >> you're talking about the

other side of the coin. we always think of raising interest rates as bad news for the economy and bad news for the market. i've got that. the other side of the coin is rising interest rates are good news for savings. people who want to put their money away and just forget about it, almost. but i'll put it to you, david, those higher rates, for example, a bank cd. they're not here yet. you're earning virtually nothing on a cd. >> you can loan your money to the new jersey turnpike, a franchise which is a monopoly, get a tax-free interest rate and it's up over 100 basis points from where it was just a few weeks ago. so you have to make a trade off. now, if you don't pay taxes or think the tax code is going to be repealed, it's another matter, but i don't see that happening. so we've had a major change in sector allocation. also, steepen the yield curve. what do you do? you start to give the banking system the opportunity to get more profitable.

and banks, financials, were still overweight and we like them. and lastly, we've had rising housing prices. now, rising housing of prices have a double edged sword, but they increase the value of the collateral at the bank, which means the reserve for loan losses can go down at the same time, they make it more difficult to buy a house because the affordability test is harder for the marginal buyer. interest rates are a little higher. prices a little higher. mortgage payment is bigger. so there's a trade-off there. >> thank you very much for pointing out both sides of the coin here, we always think, you know, more interest rates are going up, big deal, stocks will go down and the economy will go down. there's another side to the coin. david, thank you very much 3 c1 indeed, sir. >> thanks, stuart, don't put me in a coal mine. stuart: no, no, i wouldn't do that. i wouldn't do it, okay? thank you, david. to nicole, by the way, look at the big board for a second, we were up 110, 115, now we're up

89. a larry levin said watch out, a nice pop at the opening bell, but we'll think twice about what's going on in the marketplace and we might not be so bullish. we're now up 87. all right, nicole, pandora, independent streaming radio service, one third of all new cars will have that service soon. nicole, the stock please, doesn't at that sound like a big deal? it is a big deal. the stock is up about 5%, of course, you know they pay so much in royal fees and the like. this will give them huge expansion, they're working with 23 major automotive manufacturers, eight after market manufacturers, one third of all new cars sold will have pandora in the dash. that's unbelievable and they'll be able to spend. and 2 1/2 million unique acquisitions and the stock is up 40% in last year.

>> and we love stocks that move 5 to 6%. he's one of the most wanted of men in the world. nsa leaker, edward snowden. where is he. whoever has got him, will they hand him over? and what about the journalist who harbored him in the first place? prosecute him. we've got someone who says prosecute him and the big board, we're up 75 points moderating that first gain. and oil. 94 today. home prices up 12%. interest rates are rising and that's in the future. we will bring you some family bargain home deals. first this, regulators mrapg a civil lawsuit against jon corzi

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>> some sky high ratings for nik wallenda's latest stunt. 13 million viewers watched him cross the grand canyon on the high wire, record ratings for the discovery channel and i'm now going to talk about hockey of all things. chicago blackhawks stage a late rally and won the stanley cup over the bruins. can you hear it? chicago scored two goals in the final minutes to win last night's game. check the big board please. it's getting exciting again.

we were up 75, two minutes ago and now we're up 108. not pulling back from that earlier rally. good stuff. tanya is still with us. she's got some homes for us. homes that you could sell or that she could sell to a family of four. okay. i take it, yeah, you've he got three homes for us, and i believe they're in comparable neighborhoods, but different cities so i want to give our audience a sampling of what a family of four can get for their money. first off, houston. can we see this house, please? 405,000 is the asking price, 4 bedrooms, 4 bathrooms, that's 405. sell it to me. >> it's a great house in the historical district in houston, an awesome place to be. there's a lot going on down there and houston according to realty track has the most amount of sales for may out of all of the united states. that's interesting. this is just a great house built

in 2002. >> very modern and not a lot of yard maintenance. >> houston is a happening place, i was there just the other week and it's a boomtown is what it is. 405 for that. okay. next is denver. you've got a home for $725,000, 4 bedrooms, 4 1/2 bathrooms, 3900 square feet. sell it to me, please. >> this being my hometown in university hills, so another historic district which i like, just keeping it comparable. 4 bedroom, 4 1/2 bath house with a fireplace, you have to have a fireplace in colorado, granite wood floors, walkout basement. awesome school district. this is actually just where you want to be, if you're not in the outskirts of denver. >> okay. all right. now, the last one is in phoenix and i'm looking for a bargain and i expect bargains in phoenix, and i know that's where you do most of our business. you got something for $99,000. i want you to describe it for

me. >> this house is amazing for $99,000 and it's not bank-owned, it's a seller selling it. that's a good thing. it has a swimming pool, it's a 3 bed, 2 bath, 1200 square foot home and i always like to show the one good rental, this is a perfect rental. stuart: you've shown us three houses three different cities for a family of four. i put it to you that families of four people, average start around families, first time buyers or second time buyers, they're not the buyers today, are they? you're in this line of business, it's still investors, isn't it? >> it is still investors right now. there's still a lot of cash in this market. which is good because then you know, we're not working on that bubble that everybody wants to talk about, so there's still a lot of cash coming into this market and yes, you know, for a family of four, they might be renting this home. >> i know you're talking in your back. i expect you to comericalize it, i expect you to, but you're telling me that there are still

bargains at a relatively low mortgage rate for families of four, that's what you're telling me? >> absolutely. let's go back to denver just quickly. the foreclosure filings in denver over the month of may were up 182%. do you think there's a bargain in there for somebody? >> i do. but our producer just told me in his town, which is in new jersey, there are bidding wars for homes because there are so few going on the market. it's a sellers market where he is in new jersey not where you are in phoenix, denver or houston, i think? >> well, no, think it's a sellers market across the united states, but i think what we'll continue to see is organically people are going to start selling and more homes are going to be on the market because prices are rising and people don't have to short sell and foreclose anymore. stuart: and you're talking your book. u. >> thank you. stuart: a gold report, with the dow up 100, where is gold?

up 3 bucks all you've got. 1280 per ounce. that's gold. president obama and his war on coal, again, making a speech to t the-- georgetown and my take on that is next. everybody has different investment objective

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>> she gave emotional impassioned testimony, and her group was targeted by the irs. becky garrettson is joining us, what does she think that irs saying there was no intentional wrongdoing. and people are fired up with paula deen, her pr an absolute disaster. we'll talk to a crisis manager, can paula deen fix the mess? where in the world is edward snowden. the more we don't know, the more we're laughed at around the world. our state department insider is here. georgetown university, an elite school, astronomical tuition

costs and educates the sons and daughters of the rich and powerful, it's where president obama will deliver his "kill coal" speech later on today. here is my take. the point is not the rights and wrongs of what he is going to say, it's where he is saying it and to whom. we can debate carbon emissions all day long, but there's no question that this speech is for the elite and will be delivered directly to the elites. they will laugh it up. those students the president will address pay $62,500 for room and board and tuition. $62,500. i predict they'll love what the president has is a say. climate change is their issue and they care about the planet. 100 miles to the west of georgetown university they actually go uuderground to mine the coal. they take real risk. they get their hands dirty, the miners issue is putting food on

the table, putting their kids through community college. it is these people who will be driven out of a job by this president and the elite students will cheer as the president destroys an american industry. astonishing, isn't it? in this age of wealth redistribution, the wealthy applaud of ruin of working america. of course, it's all about votes. coal miners largely supported romney. the students at georgetown almost certainly went big for president obama and so did environmentalists. if there's one thing this president is good at, it's counting votes and that's what he's doing today at georgetown. there is simply more environmentalists than coal miners. the elites ruined europe and now they're doing exactly the same thing here. [ male announcer ] the mercedes-benz

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for a full 60 days. use promo code: gethelp. plus get this document shredder free-- but only if you act right now. call the number on your screen now! ♪ stuart: our second hour, we have news for you. rumor becky garrison, the irs went after her, but she stood her ground and give congress and earful. she will be year. we don't know exactly where he is, we do know he is sticking it to america. the journalist to help him escape, and he is here. paula dean, jen and pr says a crisis manager. dunn, cut. yet another doctor who has had it with insurance bureaucracy. all cash, but much lower prices.

♪ stuart: it ten seconds from now i have to numbers for you, consumer confidence and new home sales. when they, you will get them. let's see how the market reacts. currently the dow is up 78 to 79 points and now we have the numbers coming at us. first of all -- actually, ten seconds past the hour, and i am still waiting for these numbers. they usually release them precisely -- new home sales up just over 2 percent in may. we don't have consumer confidence that. the steel with that one. new home sales. is that year-over-year or month over month? what is that? we don't know, but we will tell you. that is month-to-month. two and a half% up in may. that sounds reasonably solid. no impact on the market.

in fact, the market is coming down. >> we are like of 57 and we came back from break, edging up. stuart: consumer confidence, what was the last time? better than expected. so you still have no real market reaction from a solid new home sales number and a solid consumer confidence number. you're still up 70 points. this could be good news on the economy. bad news for the market because it is inclined. >> bad news is bad news. and was happy to see the market begins almost all the news of this morning is relatively good nose from the durable-goods report, home prices, the case schiller report. we will see. the market has been on a huge roller-coaster ride. at any minute a kid break big time. it will be fantastic at some point to seek it is being good news again. stuart: up 64 points following

the release. not a great performance. good news. >> we'll see. stuart: i have two stocks that are moving because of executive changes. first of this carnival. >> reporter: well, talking about a couple of things. they have been under pressure. management news. so their revenue came in to my declines just over one-half percent. then missed the estimate. the stock is higher on the news that they are splitting the chairman and ceo role. the chairman and ceo will remain the chairman post and a board member arnold donald will become the new ceo. he has been that the company since the 70's. stuart: tell me about men's wear house. they ousted their longtime chief. i think he was to come back and bite out. >> reporter: this is the story we just keep replaying from one committee to the next. he was the founder and chairman.

he has been ousted and is now looking to come in and take over. that, the rumors, you see the stock jumping 5%. stuart: i want at a little bit. the new home sales numbers that we have got. the median selling prices, $2,603,000 up 10% year-over-year that adds to the news. they do overall home prices all across the country. they found a 12% gain in april this year in april last year. two solid numbers on the housing market. both of them are historical numbers, neither of them take account of the rising mortgage rates which are still to come. see you have anything to say? >> you're absolutely right. stuart: live with that. you're absolutely right. and that's rare. we are now up 83 points on the dow jones average.

all of backwards and forwards year. you can call it volatility if you like. eighty-five, 88. now, let's get to politics. it is a global game of hide and seek. the exact whereabouts of in as a liquor edward snowden not known. the fugitive is believed to be in russia, but officials time at least one of them say he never came into russia. another guy at the moscow airport says he is here. former senior adviser to the state department. christian, i see this as a black eye for america. we don't seem to have reliable friend to all of us out. >> the white house has said coming around to our side, russia remains an adversary that appears to be willing to pump its finger in our eye even after obama recent relations in supposedly turned things around. stuart: i will quote for you from been candidate obama from september of 2008.

the then candid it said, one of the things i intend to do as president is restore america's standing in the world. we're less respected now than we were eight years ago or even four years ago. did not work out well, did it? >> no. as george will wrote last week, obama has vanity on a scale that is a wonder of the world. he often believes that he is a transformational figure and when that does not work on foreign leaders that obviously continue not to be impressed by personality and act in their nation's interests as they perceive them then and this was at -- then this white house is at a loss. stuart: we have no leverage. we demand his return from china and it doesn't happen. we demand his return from russia and it doesn't happen. we suggest tech to try that if you take him there will get no more money from us. we have no leverage. >> it that is surprising from hong kong. there you -- using the nuremberg

defense. it is very surprising because they went beyond that. they issued a scornful press release. they facilitated his flight to moscow which is a country -- excuse me, a city within a country that depend significantly on cooperation, specific to a law-enforcement cooperation with the u.s. is that the we have no leverage, but the country's think that they can ignore us and there will be consequence. stuart: originally when edward snowden left hawaii and went to hong kong, i believe he was held by hat journalists from the guardian, a british left-wing newspaper. do you want to prosecute the journalist? >> i think he should be investigated. we learned yesterday that he actually entered the nsa with the prior intent to steal information and become a spy, basically making him a penetration agent. we also know that the anti-american into surveillance activist to is a guardian reporter was in communication

with him at the time. the question is, see also and conspiracy which goes well beyond the definition of journalism and rewards. stuart: what do you think? do you think that he was, is, and always was basically a spy for a foreign power, maybe china? >> with the information that we have now he is a penetration agent are ready now working at the direction of a government before this messy cause that he has defined himself when he was just got to be exposing what someone argue is beyond -- surveillance beyond what was intended in the fourth amendment allows, but is now becoming clear he is a garden variety entire american activist to intentionally been added the government to steal secrets. stuart: thank you very much for joining us. i want to take you to the big board, up 75 points in the market has been bouncing around, stabilized with a gain of roughly 70 points. 147 is where we are.

a couple of stories. i will call it government incompetence with money. the irs issuing more than $7 million in tax refunds in 2011 to a group of nearly 3,000 illegal immigrants not permitted toward america. and the social security administration paid 31 million to dead people. the agency issued checks to more than 1500 individuals for an average of 20 months after there were deceased. fox news contributor. i'm setting you up horribly. >> you really are. that's typical. stuart: thank you so much. you support this president who is all government all the time and know that all government kamal bureaucracy, you're going to get this kind of thing happening all the time. >> he has cut government. lower today than it was before. stuart: you believe that this president is not all government all the time? passionately believe in

government is the agent of change? >> believes that government has a role to play in change. i don't think he's about of government all the time. that would make him a socialist. stuart: he said, with the individual cannot to call with the corporation will not do, the government will do. >> there are certain things that the government cannot do. we would knowledge that there is a role that government plays and other corporations or individuals can up like. stuart: building cars. >> like building highways, invested and highways like invested in technology that led to the internet, invest in internet technology that lets all sorts of new developments. you know full well that government has a role to play. stuart: they intended to make the government the stimulus agents. it did not work. >> you and i would disagree on whether stimulus worker not. the worst recovery from any recession since world war two.

>> that would lead to a bad recovery. i would say it is not big enough we can keep fighting about it today if you want. >> you know, with this idea that the government should be on a pitch and, if you will, that is the program's idea. if you look and all of these candles from the irs to in and say, the irs spinning $79 in checks to aliens is one thing, but they all use the same bank accounts. they all use the same bank account. this is what happens when you tell the government, listen, we have things we want you to get done. we'd all like those people, punish them. >> we have people being punished to or allegedly the president's allies. occupy wall street. stuart: i could write the software that found $7 million worth of checks. >> in that getting an argument for me. your nothing in onion for me.

>> this is what you support. >> come on. stuart: president obama set to release regulations on coal power plants reportedly to go around congress, straight to the epa executive order which is how he is going to clobber the coal industry. the support that? >> support anything to address global climate change and if you think is the reality that we get a separate covers is about that. stuart: who will be laughed at abroad. >> you don't think climate change is a priority? did the right idea. >> destroy an american industry. destroy jobs at a time when our so-called allies, china, russia, india alone do anything about global warming, and we are touching off of call attendees. >> that is not. with the second. because china one act so we should set on our hands.

they receive a quarter of the world's nations. stuart: we're already cutting emissions more than any other major society because we are fracking for natural gas. >> we are fracking. >> un least agree with the president is allowing fracking. a complete lefty would not allow anything, but he is allowing fracking for natural gas. is it a high. you don't know that. it is doing better and this president's. >> it will be next on the hit list, but today we're talking about called. what we brought up earlier about whether or not the presidency of this from the great depression. you can argue that. i guess the next one, did he save the entire planet, but let me tell you the reality. does look as some of these projects because we're getting rid of 40,000 megawatts of energy and we will replace it with 3,000 megawatts of solar power, with the scam, here's this camp, visits and in california, 550-megawatt plan,

over 1 billion in government guarantees and it will create 15 permanent jobs. topaz got a lot of money. i quickly into get $967 million, taxpayer dollars. >> you know what you does remind me of? you know what the answer my me have? those people that don't want to go to the arson by you because that is a technology that employs people. god forbid we invest in automobiles or anything that will move us to a new technology get out of this mind set. it -- your not addressing my point. my point is, you can create new technologies to create new jobs and help the plan in this economy in this environment. fifty-seven none of this helps. stuart: fracking is a mayor and technology. we are using it and cutting emissions more than anybody else >> we should stop. stuart: fried more.

>> what if we are here in five years talking about -- [inaudible conversations] stuart: out of time. thank you. >> love you guys. you know i do. stuart: doctors fed up with obamacare. after the break, one doctor who is doing away with insurance entirely. it's a cash business. again, maybe congress should have read the bill for now this obligatory some bite. we have to pass the bill so that you can find out what is in it away from the fog of the concert receipts.

♪ stuart: this is happening now. the supreme court judge struck down a key part of a voting rights act. 5-4 majority. we're trying to find that exactly what this means. complicated stuff, but very important news item. they struck down a key part of the voting rights act that goes all the way back to the

civil-rights movement of the 1960's. the judge will be along shortly to give us the run down one exactly what this means. you might call this a touchdown. in talks with the national football league. she wants them to promote obamacare. she hopes to use nfl stars to encourage and help the man to enroll in the program. the hhs is also set to be in discussions with the nba who have reached out of football people than they had no comment. charles will make us some money. a relief, everybody. >> expensive houses. the rise in mortgage rates should not hurt them. in other words, customers to not necessarily need to get to the bank had in hand. in the meantime we have had a bunch of good news in the housing sector. relatively cheap using any kind of valuation metric. everything about them is doing better. then we heard from something of a competitor at the lower and

then the key to take away, despite interest rates increasing we have seen little impact on sales are pricing which is important. we will see how things look, but $39 not too long ago and it will get back. stuart: that was of five your chart. you think it's going further. let me summarize. first of all, show me the big board. right at 147, a gain of only 41 points. after the big decline embarrassing recently, this is not a bounce. no idea where we will close today. right now we are up just 39 points. that is it. our next guest is a doctor no longer except health insurance. cutting the red tape is the name of better care for is patience. here is dr. michael. welcome to the program. want to make sure i have this right. you will take any kind of insurance whatsoever and demand cash or credit card right up

front and you say it saves your patience money. tell me. >> it does. we cut that out as of april 1st. rihanna logger accepting government or third-party insurance and we cut our rates essentially in half. we have cut out the government and the insurance companies which are very expensive middlemen. we pass the savings on to our patients. stuart: nothing to do with obamacare. this is just an efficiency move on your part because the red tape from the insurance companies in the government was just too much. that's it? >> not quite. in the present system prior to obamacare the medicare regulations, if you or to print them, the book would be about 150,000 pages, which is about twice what the tax code is that we complain about. and i'm in a private practice and run a small business. revenues have been flat for the

past and that 12 years, but my expenses have gone up about 34%. this is a recipe for disaster and you will find that most private physicians are either retiring, if they can, or going into other fields are joining big hostile groups. i did not see any of those things being an option, so i took what was considered a radical step by asking people to pay for services at the time that they're rendered. stuart: you don't take medicare? you don't do that. you don't take any insurance. i just want some examples of how you're saving money for your customers, your patience. can you give me an example of the old price and now the new price? >> sure. just for example, if someone came in for very brief, limited visit for a sore throat and urate our previous charges $95. now we have cut it to 50. stuart: what happens if you

administer a test, like a blood test and have to go to an outside lab? >> well, what we do, if anything done in our office, we charge directly for, but if we draw the blood and send it to an outside lab, if the patient as insurance we pass that information to a lab so that they can bill them directly. for folks that have high deductibles are no insurance, we have a deal with in addis kate -- out of state lab which says quite a bit of money. we make a small amount on that the we save the patient's quite a bit. stuart: we appreciate you coming on board today. very interesting stuff and we want to find out how we can save some money at the doctor's. we are now up 55 points. we were up 110 canal up 55. that's the state of the market. the irs says there was no wrongdoing in the targeting of conservative groups. tell that to this lady.

she was one of the people in the cross hairs of the irs. she is here after the break. >> i want to protect and preserve the american that i grew up in, the america that people across oceans and risk their lives to become a part of. he -- i am terrified is slipping away. ♪

stuart: a couple minutes ago we brought you the news that the supreme court had a five-four decision. i think we have some clarity on it. some states were supposed to need federal permission before they changed their voting procedures. no, you do not need federal permission to do this. charles: you have it right. these are nine states that had abusive laws. that was one of the key provisions of the act. it played a huge role last election. the administration was able to step in a couple of times and say, no, you cannot do that. stuart: if voters say you need

id to do that, you are free to do that. charles: right. 1965 was a long time ago. we think all of these states have more or less straightened out their act. it has always been a big battle with the obama administration. this is a huge victory for states rights. i think the administration is reeling right now. stuart: good stuff, charles. thank you very much. check the big board. we are still bouncing around. we have been at this level for some time now. barnes & noble. what is going on? nicole: down 13, 14% today.

this year is no different. their quarterly net loss or than doubled. regular sales have been leaked. bad news for barnes & noble. stuart: thank you very much. no intentional wrongdoing in the agencies targeting of conservative groups. he said no one outside the agency was involved. president of the watauga two-party, known to our viewers, don't to america, she joins us now. >> thank you so much. stuart: you just heard what i said about the new irs guy.

>> i think it is extremely premature to make a statement like that. it has been happening for over three years. we know that it is broad. it is serious what has happened. i think it is too early to make a statement like that. stuart: will you take us through what happened to you. tell us again. >> we applied for our status in october of 2010. our check was cashed seven days later. we received a letter shortly after that saying we could wait about 90 days before we heard anything from the irs. 459 days went by before hearing anything from the irs.

very invasive, personal information about our organization that they wanted. we went to the american center for law and justice and retained their counsel. they did encourage us and tell us that it was wrong what the irs was doing. we received our status more than 600 days after we applied. stuart: in your group, would you say that the action of the irs had any affect on the boat? >> while, probably, yes. what i can say is we had a lot of numbers that were very concerned. i alerted everybody what we got this letter from the irs. they were concerned. they were scared to give money.

it does take money to do these kinds of things. yes, i do think it had an impact. stuart: okay. i am afraid we are out of time. last one, are you going to run for office? >> oh, no. i like being a watchdog. stuart: thank you. >> thank you so much. stuart: of next, the judge will then. the local we went out and asked people a simple question: 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 we're living lger, on 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. ♪

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[click click, ♪...] ♪ stuart: here is the big news of the day. the supreme court has struck down a key part. judge, i told our viewers this, up until now, certain states, nine states, mostly in the south have to ask federal permission to change their voting procedures. the supreme court now says, not so. big deal. states rights. >> very right, mr. varney.

the voting rights act was controversial from the beginning. not because it removed race from the decisions as to who should vote and how they should go, the radically, that was removed. the data on which the congress relied, is so dated that it is no longer valid and it is no longer accurate. the formula is thought out. before today, is a giving county and a given southern state wanted to change anything, those

changes were presumed invalid unless and until a federal bureaucrat authorized them. after today, those changes are presumed valid. if someone does not like them, they can challenge them just like anywhere else in the rest of the country. stuart: the left will be very upset about it. charles: there is no dow about it. >> this is essentially states rights versus the federal government. it is a little bit odd. just last week the supreme court overruled decisions made by arizona with respect to voting. they seem to be consistent with today's. these old assumptions no longee apply.

if the congress wants to do more investigation and come up with more data, and the congress can do so. it cannot rely on data that is 50 years old. stuart: i remember growing up, 1966-- they were keystones. key touch points in american history. charles: you can vote, but first take this test. >> obviously, things they liked that, thanks be to god, are still unconstitutional. the principles of the voting rights act, the states cannot

make a decision based on race. they cannot apply a different standard to black people's right to vote dan knobloch peoples right to vote. stuart: as we head towards these elections, -- >> the answer to your question is, yes. stuart: does that apply also for early voting? >> yes. stuart: i think that made a huge difference. >> because the state can make these decisions, the laws will be different in different parts of the country.

you and i've lived in new jersey and you can vote early and often even if you are deceased. i am going to hear about this from governor christie. in other states where they are morgan's turned, these laws will be presumed valid. >> before the day is over, you will have all the same. this is a major blow to america. a major blow to black people. first time in history that blacks voted in a higher percentage than white did. >> the president is about to talk about climate change. i think he is beside himself right now over this decision. he may be beside himself over decisions tomorrow as well. i do not know.

stuart: we are now up 95 points. we have been moving around a lot. damage control for celebrity chef paula deen. comments, racist comments costing her big-time. well apologies, like this one, help her recover her image? >> i am here to say i am so sorry. i was wrong. i have worked hard and i make mistakes. that is no excuse. ♪ [ male announcer ] i've seen incredib things.

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♪ charles: home prices posted their biggest annual gain in seven years. home prices rose 12% year over year in april. much better than the street expected. let's go to the big board. it has been all over the place. up 91 points. melissa mayer took reigns at yahoo! a year ago today. though shares are up again today. a brand new to reno tocco is on its way. taco bell said it sold more than 50 million in the past year alone and created 15,000 jobs. paula deen was canned from the

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♪ ♪ [ male announcer ] if you can't stand the heat, get off the test track. get the mercedes-benz you've been burning for at the summmmer event, going on now at your authorized merced-benz dealer. hurry, before this opportunity cools off. stuart: time to make some money. we always go to charles for that charles: vista print. they do all kinds of printing. they beat the street in each of the last four quarters.

the company has been -- still, i love the fact that the insiders are buying. they looked at the clicks on their site. they use the word strong to describe it. you can see the stock made a big move. stuart: a relatively small company. where do you find them? charles: just scouring the market all day and night. stuart: out 4:00 o'clock in the morning, charles payne is scouring them. charles: i may make you a logo. stuart: now you are talking. good stuff, charles. now this. the paula deen controversy. it is far from over. she is losing sponsors by the

day. it began last week when a deposition was released. after some serious backlash from her sponsors, she filmed this online apologies. >> i am here to say i am so sorry. i was wrong. yes, i have worked hard and i make mistakes. that is no excuse. stuart: are right. bill hollow is here. he is a crisis manager, expert in the public relations arena. is paula deen finished? >> her goose is pretty much cooked. it is easier in america to

recover from allegations of drug abuse, sex crimes, even maybe murder. stuart: i believe she was going to go on the today show. she canceled. i believe she is going to go back on thursday morning. she has no chance of claiming her territory? >> well, she has the chance. she has made it harder on herself. if you are going to apologize, you need to do so fully, quickly and in person. she has made an enemy out of a friend and matt lauer. the uphill climb that she had is even steeper now. stuart: at the very beginning of this crisis, you would have said, go out and say this. >> go on the program. she had a good opportunity.

she had to make it clear that she was upset, not because how she felt about it, but how she made other people feel. she released three of them on friday. one after another. they were all bad. she should be explaining how badly she feels about others and what she is going to do about it. what is she going to do to try to make amends. she has not done any of that so far. stuart: sorry to cut this short. thank you for joining us, sir. this is breaking news on edward snowden. he arrived in moscow as a transit passenger. putin says he has committed no crime in russia and the sooner

he chooses a destination, the better. he also says he hopes his case does not affect russia's relationship with the united states. i believe he called him a free man. >> yes. stuart: this, to be, is an embarrassment for the united states of of the cup. they are not giving him back. charles: apparently, the word is he will go to havana and then maybe ecuador. it is absolutely amazing. this reset button is stuck. stuart: the ap is reporting that snowden. charles: of course not. putin has zero respect for president obama.

stuart: one of the things i intend to do as president is restore america's standing in the world. charles: we continue to dump money all over the world. people still disrespect america. we keep apologizing and giving them money. what else can we do. stuart: meanwhile, the dow jones industrial average is up again. $1 billion. that is how much it will cost to clean up the irs. david asman is here. he is also pouring cold water on the irs story. david asman is next. ♪ friday night, buddy.

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♪ stuart: to blockbuster stories on the irs. david asman is here with them. $1 billion to clean up the irs. >> they are great at creating more paper. we need another billion dollars in order to make things more efficient. if we do not have the funds to invest in our people, there is

no question that our service levels will -- in other words, they will clean up these messes with more money. stuart: "new york times," the "new york times" says the irs also targeted liberal groups. is that true? >> do not believe the headlines. they link you to the actual documents that show exactly the opposite. the documents that the "new york times" link you to show you that more conservative groups were targeted. not only that, but they say that these organizations, promoting president obama's health care law do not show that at all. it says cases impacted by the patient protection and affordable healthcare ads, obamacare, are being coordinated by the dot.

that is the washington office. the "new york times" is exactly wrong. stuart: right again. sorry about little time. you get another hour of "varney & company." it is coming up. all the way until noon. art laffer is coming up.es ♪ with scottrade's smart text, i can quickly understand my charts, and spend more time trading. their quick trade bar lets my account follow me line so i can react in real-time. plus, my local scottrade office is there to help. because they know i don't trade like everybody. i trade like me. i'm with scottra. (announcer) scottrade. voted "best investment services company." all your imptant legal matters in just minutes. protect youramily...

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stuart: the highlight reel. we've got one. >> there is still a lot of passion in this market. that is good. we are not working on this bubble that everyone wants to talk about. stuart: i could write the software that found $7 billion worth of checks. this is government. this is what you support. >> we retained their counsel.

they did encourage us and tell us it was wrong. we finally received our status 635 days after we applied. charles: we will see what the repercussions are. i think the administration is reeling right now. stuart: the obama team is taking a hit. charles: a big hit. stuart: that was then. three out of four people say they live tape -- they live paycheck to paycheck. art laffer is here. we will show you and take you big news on home prices. up 12%. bobller is here. we will talk to the congressman who has introduced the so-called learner law. you take the fifth as a

government employee and we will fire you. a brand new hour of "varney & company." here we go. ♪ ♪ stuart: dagen and connell will be back next week. edward snowden, putin confirmed snowden is that the moscow airport. russia will not extradite him. putin also says he hopes this case does not affect russia's relationship with america. the court ruling in favor of shelby county alabama officials in finding the part of the act which sets the formula that determines which states need federal approval to change voting laws is invalid. more on those stories throughout this hour.

a 100-point game. the dow is up 101 points. look at the ten year yield. this is a big deal. it has been interest rates that have set this market. 2.58% right now on the ten year treasury. we have gone up in raped this morning. a startling new survey that says a lot about america's state of prosperity. 76% of us, three out of four, are living paycheck to paycheck. what happened? if three out of four are paycheck to paycheck, that is not the way it used to be, i do not think. >> our prosperity has not returned. it is a bad recovery. it has not been doing well.

there are a lot of people who have dropped out of the labor force. there are a lot of people who are unemployed. these people are lucky to have a paycheck. frankly, we are not falling any further. i am pretty optimistic about the longer term in the u.s. >> you are only optimistic if we get political change. you are only optimistic if we get real tax reform, lower rates, fewer deductions. you cannot guarantee that either of those things will actually happen. >> no. i think that the political stage is set. i think obama's favorables are falling. i think all of the political process reminds me very much of what happened in the white house in 1974, 73, 72.

i think this presidency is very much like the nixon presidency. i think there is a real problem. stuart: can you address our viewers, addressed them directly. they want to know what am i going to do with my stock holdings. they have seen the market come down a lot. >> the market is always uncertain. none of us nows what will be the future. i am very bullish about the long-term effects of the u.s. stock market. i am heavily invested myself. i am betting on american. i am betting on equities. i am not betting on the bond market. i am betting in the stock market. i think over the long term, the stock market is a very good investment. stuart: if we get change. >> we are really set for it.

i have never been more excited. the republicans have 30 of the 50 state republicans. politics flow from the bottom up. all of that is happening. all of these scandals in washington are hurting obama a lot. paul ryan and cantor, boehner, i think all of that will take hold. i think we will win in 2014 and 16. stuart: you give me 6% growth in any given year and i will give you a dow at 16,000. that is when you were working economic policy. thank you very much, sir. >> thank you, stuart. stuart: this is tuesday morning. we are on the upside today, so far. coal very much in the

crosshairs. coal stocks have been crushed. no recovery, i see. nicole: right. this started yesterday. we started to hear that president obama would come out once again with plans to reduce emissions and the like. today it hit a new low. it managed to bounce back. obviously, a tough fight against the coal industry and many republicans. stuart: a lot of them are down even more after a huge selloff in december. here is jeff flock. he is live in illinois. five, six, 700 miles to the east of you. president obama will address an elite audience at georgetown

university. i think he is going to kill coal. jeff: they are already half dead. this plant that you see behind me, operated by a company called midwest generation, are already in bankruptcy. this plant shutdowns completely. about 1100 plants in the country. a lot of them will be shut down. stuart: that is a huge impact on the coal industry as a whole. i say that it virtually killed it. we will see what he has to say. we will see later. now, we have an immigration bill that is backed by the president that easily cleared the senate yesterday.

the subject is emigration of rule or the opposed law. senator, i have to tell you, our audience does not like the immigration bill as it is being presented to them. you voted for it. sell it to us. >> first of all, our current immigration is broken. it is hurting employees. seasonal workers are tough to come by. we have a labor force, many of whom are underground because of the legal status. we need to bring them into the workforce that everyone benefits from. we have humanitarian needs to bring families together. we need to fix our immigration system. this bill is a balanced approach it is not how i would have written it. it provides a legitimate way for

people to come out of the shadows and earned their right to stay here and ultimately become citizens. it requires employees -- stuart: to accept the statement that securing the border is the first priority? >> yes. we have to know who is coming into this country. that is not the end of homeland security. stuart: senator. thank you very much. the russians have just said they will not extradite edward snowden. it seems like everyone is poking america in the eye over this one. >> it is interesting. if he was chinese, he would be

imprisoned. if he was russian, he would be imprisoned. cuba, he would be imprisoned. he is a felon. he said-- he should come to america and stand trial. stuart: thank you for coming today. look at the dow. look at it, please. now we are up 125 points. gradually, moving higher as we have for much of the day. you are smiling, charles. charles: 9:30 a.m. to 10:30 a.m. is amateur hour. maybe we will see some momentum. stuart: we are up 125.

charles: i know it sounds counterintuitive. if we get to 15,000, i think we have gotten through all of the weak sellers. stuart: if a federal employee refuses to testify, they should be fired. to washington after this. ♪ ♪

♪ stuart: plenty of positive news today on housing and consumer confidence. here comes larry leben again. what have you decided to do? buy or sell? >> i think it will be short-lived. i think this market will not hold on. so far, it looks pretty good.

having people buy when the dow gets to 16,000 is not a good idea. i think it will be a little bit of fed talk and tapering. it will bring the market right back down. that talks will bring it back down. it may take a day or so. that is what i think will happen. stuart: let's get to charles now. something about -- charles: fisher is a hawk. he hates this policy right now. he wants to stop the printing. he felt like maybe i should say something. i had to look it up. apparently, down in texas, over the years, they took these european hogs.

they created a species of hawks. the domestic characteristics diminish. these things are wild. wall street was not fighting for survival yesterday. that was just wall street whining. one species of wild animals run amok that must survive and do what it takes. wall street, please, can we have it both ways? too bad, wall street. stuart: you guys are acting like hogs, you have gone too far. we were down. charles: he does not want to go from wild turkey to cold turkey. that is what tapering is supposed to be. it was an odd comment for fisher to make. maybe temporarily. we will sleep and.

stuart: we are up 110. plead the fifth and it could get you fired if you are a government employee. call it the learner law. you really did not like lois lerner standing there and refusing to answer questions. >> i did not like that. i would not like to limit to her. if you look at the history, anytime there is a scandal, misleading times to be the approach that is used. if we are going to exercise our responsibilities, as we should, federal employees, when they come to testify before the united states congress, they should not be allowed to plead the fifth amendment for our purposes. we should have the right to

terminate them. we need employees who will share with us the information that we need so we can make proper decisions. stuart: is that constitutional? i always thought it was your constitutional right. >> it is in a criminal setting. there are consequences to your pleading the fifth. there is a decision by the united states supreme court. if you are asking an employee about specific conduct, whether he is performing his or her duties in his top and they refuse to testify, they refused to respond, you do have the right to terminate them. i am quite confident that it is constitutional based on this decision. stuart: the new guy at irs wants a billion dollars to clean up the irs, get it back on

are you going to give him that money? >> i am not because we do not have it. we have to be a whole lot more responsible than we have been. this would be the easy button approach we need to have an administration that will take the tough road, do the right things, increase the efficiency and save us tax dollars. stuart: thank you for being with us. edward snowden and russia. putin says, no, we will not extradite him. the judge is next. ♪

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♪ stuart: the 100-point gain for the dow jones industrial average is holding as we speak. nearly two hours into the session. half hour into our third hour.

we have a really big loser here. barnes & noble filming. the 20 stock is down about 16%. it is interesting. they have had a lot of losses. they are trying to contain those. stuart: that is a big loss. thank you, nicole. we look you up to date on what is going on in wall street. back to edward snowden. he is at the moscow airport. russia will not extradite him.

all rise, judge andrew napolitano is here. we want the guy extradited. putin says no. >> we do not have an extradition treaty with russia. the court does not concern itself with how the defendant physically was brought to the court room.

american federal agents were prosecuted by italian courts. i think the administration is trying to retrace its tracks. stuart: you got your point across. see that i can say it again, justin? [ laughter ] >> the justice department was too little too late. the state department was too little too late.

the obama administration is aggressive in trying to back track that criticism. it is coming from its allies. stuart: i want to move on to the supreme court striking down a part of the act. essentially, they ruled it favor of the states being able to make up the rules for their own elections. >> remember -- stuart: okay. senator got a powerful guy, he is not happy. the supreme court struck down the court of the most successful civil rights law and history. not happy. do you agree with that? strong statement. >> yes, it did strike down the

court. it struck down the core of the mechanism for enforcing it. it did not strike down the court for what the statute means. the statute means that the states may not use race in any official way to interfere with the right of people to vote. the presumption that these counties and these states, everything that they do is wrong and must be approved, that is what is gone. stuart: any state in the union can put forward id requirements for voters, so long as they are braced neutral and they are easy to get. id for voting is legitimate. >> the ids have to be as easily obtainable for inner-city poor blacks as they are for white

suburbans. stuart: do we get the same-sex marriage ruling? >> tomorrow morning at 10:00 o'clock. we will get the ruling on the defensive marriage act and same-sex marriage in california. stuart: you will be with us, i trust. you are invited. >> i am hosting tomorrow? [ laughter ] stuart: nice try. judge, thank you very much. dow jones average of 91 points. home prices surging 12%. is housing back on track? it seems like it. that is next. that is the subject. bob shiller of case shiller in just a moment. ♪

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phoenix 22%. vegas up 22%. robert schiller is the co-author of the authoritative cases schiller home price index and joins us now from connecticut. 12 percent year-over-year. >> its not boom territory. the early 2000's we saw something between 20 and 30% in the year. but it is it -- it reminds me o3 1998 at the very beginning of the last boom when home prices are going up about this rate. stuart: mortgage rates are going to go pretty quickly. the think that will have an impact on home prices and vine? i think we have an abnormally

positive. >> they reached record lows last fall, and people react to a record low. you think the mortgage rates cannot go down much further. if anything they will go up. yeah. this shortage of houses on the market. said that spending now. stuart: if it goes to foreign and a half%. there will be a negative impact. >> six months to another year. but they could go down again this same way they did after the 2009-standard and which was generated by the home buyer tax credit. they win all the way down. stuart: if we come back 12 and a half%, just about 12% in april over april the previous year, how far we down from where we

were at the highs of late 2006 and early 2007. >> i don't have the exact numbers. it still can't -- something close. some of the city's like phoenix went down. stuart: not predominantly but investors are very well represented. you find that in your report? >> that is something that i think is of concern now because investors don't have the same commitment. back in 1998, there were not hardly any of these. there were some. not right now. home buyers to continue living there. now they might not be at the first sight of price declines, out of there which could be a self-fulfilling.

stuart: we are all of here thinking maybe you'll get another 10% gain in prices of the next year. okay. >> this might be a good ti be a flipper. i'm not doing it. get out. stuart: interesting. so, we appreciate you being with us. hope you can come again on varney&co@foxbusiness.com and suddenly the fox business network. >> my pleasure. the dow is up 103. stabilizing. it looks like we are. all right. jurors will make us some money, but volume. >> are look at some of these strips malls. this is my third worst pick on making money under show. i did in february and 87.

pine is a 74. now it as rebounded. yesterday, she was chief market officer at mcdonald's. this is a kind of thing, who is running the company. we've seen this. splitting the rolls. mains where else get rid of the ceo and the stock did not budge. they get rid of the ceo and the stock went down. here i think it was fantastic. yeah, the stock probably will continue thursday back up to $103, but at the end of the day you have to have the right management in place, and i think that pick do when a. stuart: all right. very tough. got it. dow is up 103. thousands of middle americans jobs a stake. we're talking president obama's war on cold. they saw it coming. every that is why the supported mitt romney in the election. that's next. [ male announcer] surprise -- you're havg triplets.

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♪ stuart: walgreens blaming a decrease in customer foot traffic and the weak economy for missing estimates this morning. the store did post profits, but the stores are getting hammered. speaking of which, barnes and

noble announced it will no longer make the milk in house. it will partner with a third-party manufacturer. shares of barnes and noble of big time. in norris is that one-third of all new cars will have its service on the dashboard. the company is currently working with 23 major car manufacturers and the stock is up. the coal industry is about to take a massive head after president obama announces sweeping regulations later on. we will discuss. this is a real big deal, a real big industry, of crony capitalism, a lot of jobs lost and higher energy bills coming up. friday night, buddy.

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: we talk a lot about e-cigarettes, and a new study says one in ten people who will quit smoking, regular smoking after trying electronics cigarettes. they've relied on battery power to heat nicotine least liquid

and converted into vapor. no smoke, no tar, and they say knows smell. it looks like this is a good way of getting off the lead. tobacco. i'm sorry. >> it is not too long before there will be e-read, but not yet. i have to tell you, this is why we have seen these big boys palin here. hair knows what happens. maybe the irony for the cigarette industry which may help them as regulators, the same ones that beaten down and check them out and take billions from them actually put the cabochon this. it will be a little harder. >> they're going to start selling the regular cigarettes in a different way because for me at think that makes it impervious. he said pasay when mr. degrees below zero and all the cigarettes out there. it gets -- the only people allowed around their smoking

cigarettes. so new tactics might of said this trend, right now they're a big hit. stuart: there really are. put. stuart: new regulations on the coal power plants. the coal miners lined up to your mitt romney speak about cold. they lined up by the thousands. the president wants to kill their industry. the center of coal country. welcome back. the coal-fired plants in your state, are they going to be affected by this? may be shut down? >> absolutely. this is an all-out war on the coal industry directly and indirectly. a war on working families as well as small businesses. will we know is that if this is put in place as the president wants and he is going around congress and doing it through

administrative edict, but this will mean is that also over a half-million jobs between now and 2030, it will mean a drop in the family income of a family of four of $1,400 what it is going to do to our nuclear -- excuse me, our national security is just crazy. stuart: but why? is the president of the united states stands for and with working families in america, that is an expression which uses all the time. he is with working families. you just told us that it is working families to take a hit from this. what is this calculation in doing this? >> well, is the calculation is a big payoff to the folks in the green energy field. look, if in fact we did away with all carbon emissions, all of them by 2050 we would only

lower the temperature less than 1 degree. that's it. 08 degrees. and that's it. so this is a hoax. this is a work on industry that the president does not like. one of the things that you have to understand is that we account only for about 13% of coal production. china is 55%, and in the 76%. stuart: does it just comes down to a simple counting of votes? after all, i guess there is more environmentalist's than coal miners. is it that simple? >> this is crony capitalism at its worst. this is paying off the far left with meaningless action, but it

is the impact on working families that is very, very important for us to stay focused stuart: last one. this speech will deliver a killer blow to the entire coal industry. it will kill all. am i going too far? >> you are not going to far. it will cripple it severely and there is a large and significant chance that it will kill the coal industry. stuart: nothing you can do about it because it does not go through congress. it goes through the environmental protection agency is a regulation. you cannot stop this. >> we can always speak out. i think that we should make sure that our forces are heard. whether it is the irs or the epa to allow we cannot have a strong central government that is tantamount to a social or communist governments running

our lives and a strong american exception listen and democracy. stuart: all right. we appreciate you being with us. >> always good to be with you. stuart: ohio is a whole country in part. >> absolutely. we are the heart of it all. the president making these big speeches. too busy making it for? my take on that is next. ♪ ññgógógógógógó

♪ stuart: series kayfor on the liberal elites and they're vigorous support of president obama. the issue is putting food on the table. putting their kids through community colleges. it is these people who will be driven out of the job by his presence and the lead students will cheer as the president

destroys an american industry. astonishing that in this age of wealth and redistribution of wealth the applause of the roman of working america. of course is all about votes. coal miners rise in support of romney. the students said georgetown went big for president obama and so did environmentalists. there is one thing this president is good that, counting votes. the point was making is that the president will speak this afternoon at georgetown university where, charles, the payment for tuition, room, and aborted $62,070 per year. he is talking to the lead. a couple hundred miles to the west there putting these people of the job the families. >> i would go a step further. i am really not being facetious. president obama, he spends a lot of time now with the counterfactual argument that somehow he said america from the great depression. i now think that is enough. now the legacy is that he saved the entire planet, the earth,

earth from armageddon, global warming. and they're is a certain crazy assumption that these environmentalists, did he think of this from moment all we will kill ourselves from pollution in there before we would destroy the planet of that is our new mission, said the plan. it's going to come at a high cost. higher electricity costs, higher business costs for everyone trying to manufacture. it is a prohibitively expensive and at the end of the day at think it makes zero difference in what happens around the world stuart: the second year you give me some numbers on the solar power plants. i have a couple here whereas a billionaire more, billion dollars or more going from the department of energy, the desert sun light plants. the department of energy. the number of permanent jobs created, 15.

stuart: the president says war on gold. get rid of it. we going to go for solar and wind power, putting all this money into solar and yet we are creating very, very few jobs. >> and very little megawatts. you will get rid of 40,000 megawatts of energy all on the east coast, all of those projects are looking at are either in california, arizona, maybe nobody getting rid of 40,000 megawatts, burning and 3,000 megawatts. warren buffett taking over. it is just easy money because in california they're making these utilities over pay by 50% or more for power from solar plants stuart: a great story. thank you. up next, cheryl and dennis. we are talking china and pork after this. remember, all week 915 to 11. don't miss it please. ange makes. but i see a world bursting with opportunity, with ideas, with ambition.

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stuart: cheryl and dennis are up now. they're big issue to kick things off, should china be allowed to purchase smithfield foods? should be blocked? should china take control of the biggest producer of pork in the world? are you there, gentlemen? dennis: yes, we are. cheryl: what do you think? the start out with your opinion. i know you have one. >> of course they should be allowed to buy america's big pork producer. the jobs will leave. it will just bring their money back to us. they need clean food. they have a problem with the sanitation of their food industry. let's show them how you do it. dennis: when did the other white meat become a matter of national security. apparently some senators think that it is. talking about this deal with u.s. senator, chairman of the senate agricultural committee. she is questioning the deal. other members of that committee are questioning as well. cheryl: also joining us during

this hour, from rock legend on to bring your, co-founder dean simmons putting its money where its mouth is. his new restaurant chain venture rock and blues. dennis: stocks now every 15 minutes. a triple digit rise. consumer confidence. cheryl: nicole standing by. a busy day with energy. capitalism pitts were with his take on what is going on. the star with a goal. >> reporter: five america, but american. become part of the market's year earlier highs. however, we are. the dozens of vessels a