believes it's unlikely snowden would get a fair trial if returned to the united states. and the republican house ways and means committee is firing the latest shot across the bow. they're demanding details. what kind of access to your health information, the irs will have, through obamacare, so-called data hub. diane black from tennessee o help us with this, we're learning more and more about the implications of obamacare and certainly what's going to happen with our data, our personal data and now we know that it's all going to this data hub. what's this all about? >> oh, my goodness, it will set your hair on fire, the more you know about it. there is a data base formed as we speak that's going to put our most personal information, not only our name, address, e-mail, social security number and all of that, but also our personal health information into this big data base.

we don't have definition who is going to have access to it. we don't have definition about those who have access and whether they will have security clearances. this is scary. we look at the irs and what's happened there and how can we be assured that this information, the most personal information that we have about our finances and our health care, is going to be kept secure. that's what we're wanting to hear. charles: with all due respect, i think that most people watching the show say that he we can't be secure. we don't feel like this is the right time to accumulate late such data. we really want to have more than a verbal assurance that this is going to happen. so, i think this is what you're going to try to do. you're going to try to make sure at that before this is implemented, i know the clock is ticking rapidly on this, at that we get better answers? >> that's right. first first of all, we want better answers just how it's going to be secured. as i say, we keep being told they're going to take more and more information. first they told us thhy were not going to keep this information and now we know they will he' keep it ten years. first they said they're not going to gather our personal

health information and now we find it's happening. we understand that they're going to keep taking more and more and what we're not getting answers to, in addition to bill, hr 2022 that will put assurances there under the perjury of law, each one of the agencies would have to certify that the information is going to be kept private in addition to that, that they will not use it to target any individuals using that information. >> well, listening to this whole irs scandal as it's being played out right now. it feels like even if your bill went through. would it be able to stop some lone wolf, if there's such a thing, of thinking of doing a public, big service by llaking information or selling by some favors? >> many' going to tell you it's very disturbing, we mistrusted the irs with a very powerful organization, but that's been confirmed that our mistrust is valid. and we're doing things to get to the bottom of that.

so, i think right now, just the general feeling about the federal government having access to any of our ata should give us pause and concern. and what we can do is the best that we can do by putting things in place to ensure that that's going to happen again under the perjury of the law. >> you know, i realize this is the, you know, the crowning achievement of president obama, at least that's what he feels, with respect to the health care law, but he feels like it's coming so fast and rapidly and almost every single day there's a new headline about something that someone didn't figure out. they didn't put it together. is there any possibility of even delaying it, you know, forget about the idea, okay, we're going to squash it for now, but just some common sense and someone stepping in, let's push back the start of this thing? >> well, that's one of the reasons why we want them to come before our committee and show us where they are on this data hub. we have indications they're not ready, they're not ready to go and most importantly for me, is that we're going to secure the

information, but we want to see how is it going to operate. are you really ready to go? we're less than four months now before they're going to begin to sign people up for the exchanges and yet, we really haven't seen evidence that they are ready to go. and this may be an opportunity for us to say, perhaps this isn't fully baked. maybe it needs more time and we'll see that, we're asking the administration to send someone over to our committee, our oversight committee on ways and means and put the proof in the pudding so to speak. >> well, information equals knowledge and knowledge equals power and this is a whole lot of information that's going to be freely flowing out there, so, obviously, we appreciate what you're he doing and we hope you come back with some good news in the next couple of weeks. thanks a lot, we appreciate it this morning. >> thanks, charles, we'll keep you posted. >> thanks. relax, that's the message from the fed. don't take ben bernanke's word on anything literally. now we're just a few points away from finishing up in the green. that's all been happening this week. we're following the markets for you and see if we can hit that magic number that's on the screen next. we went out and asked people a simple question:

how old is the oldesterson you'venown? we gave people a sticker and had them show us. we leard a lot of us have known someone who's livedell 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. ♪

♪ let's call ben bernanke cool hand luke, one of my favorite

movies. just relax and something needs a cool hand and that's what we're going to do, we're not going to stop printing money. what we're going to do is help the market and see if it can keep up the winning streak. join us now from chicago, scott shellady. the market has been under a pretty good streak and you and i talked about 15,000 and make a breakout. we're pulling back. are you thinking go long or short at this point? >> well, a couple of things first your hand luke reference. i think that ben bernanke had a failure to communicate. [laughter] >> great one. >> we've got another 2 to 4% in the market and i think it's like this all the way there. the last six months has been ttrribly harrowing and i think the next six months will be that way. but i think we've got a lot to get through government policy-wise and market-wise. charles: scott, nike had a pretty good number and then kind of warned for the next half, for the next quarter. part of the rally this year has been corporate, corporate

executives saying the second half is going to be better and the street taking them at their word. if we see any hickup, then all bets could be off, right? >> absolutely, and blackberry and accenture had some problems. we need the revenues get better and we can't keep cutting to profitable. we need to grow to profitability. >> as you say that the opening bell is ringing and as i said the futures turn sharply in the last half hour and the dow opening up, thanks a lot, scott. big name you know, disappointing loss and scott alluded to it and those shares were down big, where did they open? >> blackberry to the down side this morning, obviously, down 27%, their numbers come in and reported this unexpected loss. you see the shares sliding 27% at the moment. $10.64 a share, the problem with blackberry is that the new blackberry, i had a whole long chat, charles, with some of the traders here, the new blackberry is not better.

i guess the curve recently trying to e-mail on it, teenie weenie butt toponbuttons. maybe get the old blackberry and beef it up, that would have been better. charles: people had a target of 10 and now you'll see them going lower. thanks, nicole. and there was news for a big name you know, strong demand for shoes and clothing, and nike's profits up 22%. after the close yesterday the stock was up 2 1/2 bucks and looked like a juggernaut, but guidance was so-so, as you can see the opening is so-so. it was looking like it was going to lead the market higher, but it's not. watch out xbox and playstation, google is developing a video game and a wrist watch based on the android operating system. this according to the wall street journal and the device as soon as this fall. i want to get back to you, nicole. >> i'm baffled. i can't believe you're going into this now.

the stock is down 2/10 of a percent and now they'll try and take on xbox and playstation and it could be an uphill battle, we'll see. charles: they've invented a lot of things, but they have to make money. although it's not hurting the took too bad. thanks. >> thanks. charles: let's stay with the market, i want to bring in john layfield from bermuda lucky guy. he's bullish and why he's in bermuda and john is bearish in the studio and we'll have the bull and bear debate. start with you, john. you say we should be buying here? >> yeah, i think so. you don't know what the fed is going to do for sure, when they're going to start this buying program, probably the end. year, maybe in 2014 and maybe they weren't going to start raising interest rates until 6 1/2% and you know how it works, once the unemployment starts going down people join the labor force to push it higher and that's a long way

away, before the stocks are higher and i think we'll probably see it trend upwards and i think it's going to trend upwards 5 or 10%. >> another 10% would be impressive. >> very impressive. you know, dan, we have this discussion. you're bearish and you make an argument and the market keeps defining what you're saying. >> it has, but it hasn't. it looks like we're completing the timing pattern and i believe the market will collapse and follow the gold prices down. gold is the leader of what the stock market could potentially-- >> when did it happen and gold become the leader for the stock market? >> gold is now signaling that something is wrong. remember, i talked about the deflationary depression that's coming and gold is coming down as rapidly as it has to hit my first target, 12% and the next target-- >> you were bearish on the market and bearish on gold. >> yeah, a couple of weeks ago, four weeks ago, said that gold is something i wouldn't hold at this time. >> it's interesting, a lot of people bearish on the market,

and only because it's ben bernanke are long-- >> the only thing i'm positive on are u.s. treasury, when we had inflation, voelker was able to keep inflation in check. you cannot bring deflation, you can only go to zero. when the population changes the policy attitude about spending, you cannot change that. and the top line revenue announcing in some of the reports are just not going to be there. charles: you know, john, i think that dan makes a good.about the effort that the fed has made and really the impact. you don't see it. you know, we had consumer incomes up a little bit, but almost half from social security benefits, stuff like that. we're not seeing what the fed is trying to achieve. does that worry you a little bit that they're pumping 85 billion into the economy every month and rates are at zero, and that the needle is not moving on the economy? >> dan makes a great point. you can't control an

inflationary environment. especially in tech opponents and things that have been helped by automation. and the fed can't control things when it's a structural problem not a cyclical problem like we were talking about. talking about raising rates. the stock market has gone up ten of the last 11 times, once the fed starts raising rates. and i think dan's right. look, there is a potential down side problem here. i don't see deflation like dan sees. i think that the market is probably the only safe place to put your money right now, and in the world. >> right. >> and gold as well. so i think there's a baseline to it. >> and to that point, dan, alan greenspan made his irrational exuberance speech and the market went down for a month and went straight up for the next five years. i trying to pinpoint that's collapses is a tricky game.

>> absolutely. charles: you've been bearish for the entire run. could you handle another 9 points on the upside. >> i'm not 100% short. my portfolios are different than what i'm-- >> people watching the show and grappling for help. people watch our show and our network because they want to figure out a way to earn some money and how do they do it and what do they do from here? >> this is a tricky environment now. like musical chairs with the stocks. you can be in the stock market, but you've got to be ready to pull the trigger and have your exit strategies, i like u.s. treasuries, they've lost control and there's an opportunity on u.s. treasuries, the commercials are high net long position and the highest in a year which shows me that a rally could be around the corner. now, we could get that disconnect now, that treasuries could rally and the stock market go down. the fed has done everything that they could to pump money into the system. the velocity of money is not there. the market can't continue with velocity of money going negative. >> listen, i agree with you on

the velocity and i may have to call you mr. contrarian here on out. most of the street is saying, you know what, sell bonds, buy stocks, itts the only game in town and you more or less said the same thing? >> yeah, that's my motive as well. i think the stock market is the only place back. after the internet bust of the 1990's, the companies, ciscos, apples, they got very, very strong and i think you're seeing that now with companies that had cash on the balance sheet. they don't need to hire people. and asking them to hire people they don't need is not a jobs plan. they'll have everything they can, the companies like google, like amazon. >> you guys are great and always great to be on with two smart nice who know what they're talking about and disagree with each other almost 100%. yesterday on "varney & company" i got into it with former u.n. ambassador john bolton, listen

to this. >> the bad news comes out and the market goes up, they think the fed will keep buying. charles: before you tell people not to do the market, people watching the show, missed the market and bought gold and getting crushed now. gold is down 30%, the stock market went up 100% and you're waiting for the bottom. waiting for the crashh and you can expect more fireworks coming up. the ambassador is back, round two next hour. right now though we have breaking news from capitol hill. darrell issa, chairman. house oversight committee says he believes that lois lerner waived her fifth amendment privileges when she gave an opening statement to congress last month. the committee is voting today whether she wavived her rights. if they decide she did they'll bring her back. and i'm going to give you seven early movers. this is dendreon, pretty good news this morning, up 7%. boston scientific are taking

over the electro physiological business. a great story, two guys met at a picnic and made a company that went offer the rails. and raymond james says this is low enough and buy or outperform this morning. biogen is looking pretty good this morning and so are a whole lot of biotech companies, i didn't see the news and it's a big, big move and that's a mover. zumiez, their target $36. molycorp, important, after the bell yesterday. the sec completed a formal investigation and they say into the public disclosures and found nothing that is enforceable so there probably won't be an action there, big, big news for them. and finally game stop. you know the name. target 55. we put this on death watch not long ago and the guy that helped us put it there will be on the show later on this morning. let's check the big board. the futures turned south before the open and as you can see

that's where we opened. the door up under 15,000. hey, af got another consequence of obamacare, major retailers are coming out. they want to delay it, it has to do with defining what a full-time job is. is 30 hours enough for you? a lot of guys working 40 are going to be working less. find out more next. ♪ (announcer) scottrade knows our clients trade and invest their own way.

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>> all right. let's check on the big board because we're accelerating so much to the down side. dow off, well below 15,000, something after psychological numbbr for the market. time now for your morning gold report. look at this, another 13.80, 197, under 1200, the key number and everyone is joining the chorus saying 1,000 for gold, we'll see. and ibm, 5.90, i think mostly in sympathy with accenture which had a disaster and that's now 14% and ibm one of the big names holding back the dow. now, concern over obamacare continue to pile up and now retailers want to delay it. joining us now is neil troutwine from the national federation and neil, did you guys have an epiphany overnight? why four months from the implementation of obamacare, the

urgency to delay it? >> we've been spending time educating our members and i'm concerned at this state and not all the regulations out that we're getting too close to the debut of the affordable care act. it's a scary year next year, a lot of new stuff coming at us. i call it the freddy krueger year, most times. charles: well, what part of this is the scareiest? what part of it really has you like, saying, okay, we've got to delay this, we can't get our act together and they should give us more time? >> well, there are a lot of provisions, such as there are all the reporting requirements still pending regulations, but what really scares me, it's not the fine, it's not the rest, additional coverages, but it's the changes to the work force. if you're forcing us to manage to a 30-hour full-time limit. that's going to force some real changes to the way we run our

businesses. and what i hear out there, when i'm out talking to large and small members, and we represent 9,000 members.. we represent everybody from the biggest retailers to the smallest mom and pop shop, there's just a lot of frustration that they're having to take on these rules and regulations and run their business in a way that is foreign to them. charles: you know, neil, it's interesting that you mention that because we saw a lot of of individual businesses initially week out on this. we saw where, you know, the owners of red lobster said we're going to have to adjustments and other franchises made these numbers and they were immediately skewered in the media, mean spirited, greedy, to the point where some had to walk the statements back. did the retailers come to you and say the real world is we're going to have to make adjustments, and a lot of people

working 40 hours we have to bring them down to 20 hours, we need the cover and need an institution and you guys to fight this fight. individually, we're getting beaten up in the press? >> well, it is true that retail companies and chain restaurants belong to the national retail federation because we provide that uniied front and there have been a lot of skewering. the watch word i hear when i'm talking to my members, is opera optimizization of work force, not necessarily cutting back, but getting the right balance between full-time and part-time and i think that is going to be interesting to watch. some of them may be incremental in replacing employees after they-- with a full-time employee with a part-time employee, but a lot of change. charles: a lot of change, it's going to be painful change and lot of it is not in your control, but you're reacting to new rules and the public is

going to have to understand that. we appreciate it, you've got work on your hands. we'll talk to you again real soon. right now breaking news, chicago pmi is out, number 51.6 in june, 58.7 in may and you can see that is taking the market down significantly lower. blackberry facing its second biggest one-day drop ever. right now down 28%. you can see $4. and we are going to obviously be following this stock very, very closely. alex baldwin had another blowup. surprised? that's right, ranting and raving on twitter and cursing out and threatening a reporter. and find out why monica crowley will have something to say about it. she's here right after this. night

>> i want to get back to the breaking news we brought you a few minutes ago, darrell issa believes that lois lerner waived her privileges when she gave an opening statement. monica crowley is is here. it was caught and he was breaking and sooeone caught it and turns out maybe she did

waive those rights. >> you know who caught it, congressman tray gowdy who is a prosecutor who said, wait a minute, you can't say i'm taking the fifth and issuing a statement saying hey, i'm not guilty, i'm innocent and didn't do anything wrong and he says by doing that, she opened the door. and this opens the door to her being called back. charles: and i want to talk about alex baldwin, one of your favorites, and saying that he was inappropriately tweeting during james gandolfini at 9:53, 10:17 and 11:03 a.m. and asking for things like wedding anniversary gift ideas for promoting appearance on a television show: the only problem was gandolfini's funeral started at 10 a.m. and baldwin's wife said she left

early because she was feeling ill and those were messages personally, alec baldwin of course took it real hard. and i don't know, you read the tweets. threatening to hurt this guy and called him a queen. and which is interesting, and since everyone in hollywood is cheering the supreme court victory stuff this week. what do you make of this? >> it's typical alec baldwin bad behavior. the guy is-- >> can we always say it's typical? people say that's alec being alec. can we-- >> but i don't think we should excuse it. this is time all the time this contained rage that you see coming out of him, but these casino of tweets when he's going right after the journalists, personally attacking him and using what could be described as a homophobic slur and calling him a queen. no one calls alec baldwin to account and we have the paula deen scandal and made to pay the ultimate price for something she said 30 years ago and alec baldwin slowing around slurs because he's a liberal, a left

winger, that's okay? i don't think so. >> remember how bad he was with his own daughter? and new at 10, carly fiorina is going to join us, what we need to do. and the democrats criticized him and a woman who says smoking pot helped her be a better mom. a big fun hour ahead. monica is going to stay, too, so you stick around as well. in today's markets, a lot can happen in a second. with fidelity's guaranteed one-second trade execution, we route your order to up to 75 market centers to look for the best possible price -- maybe even better than you expected. it's all part of our goal to execu your trade in one second. i'm derrick chan of fidelity investmes. our one-second trade ecution is one more innovative reason serious invests are choosing fidelity. now get 200 free trades when you open an account.

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>> we have good jam packed our beginning with carly fiorina and our women treated tivoli then men? and watchdogs accused of being biased and we have a heated debate on the markets in he has missed with the wrong guy. and the woman that says smoking pot makes her a better mom. stay with us. we start right now. charles: we have to start with the markets as you can see the dow was off more than 100 points calling back and disappointing news but gold below is 1200 getting hit once again falling apart. let's turn to our special

guest, carly fiorina we are down today but let's get your thoughts. the sense we're getting a message from the market right now? >> first the message is the market for some time has been ahead of the fundamentals and the economy is doing better work, but face it, it is not doing great. second, the market tells us the fed has too much power. one man says three sentences we spend then next week to figure out what he said is it on the accelerator or the break? than the market coastal by hundreds of points. now we see concern of the fundamentals of growth it is not limited to china but growth and companies. charles: those emerging-market played a big role like with caterpillar

and apple. >> no question. charles: whaa about growth in america? is that the keys he'll? >> yes. the market is ahead of the fundamentals when you have growth around 2% at this juncture and unemployment we have a problem. i think the fundamental problem is on to print your ship is under assault. you have more small businesses failing more starting than any of their time. when small business is not prospering, people are not going to work and the economy is not growing at a robust way. charles: people would be shocked how many great businesses were started. >> that is what we're down as much as we are.

but that is dragging. i am has been a loser for the week, month, quarter down 3% for the month 9%, a second quarter 11 point* 5% and nearly 50 points of the doubt. charles: it does not weigh as much as ibm but we have to talk about blackberry. a significant loser today. >> we watched that. some analysts said it is doing better than rethink but not really because it is down 27%. they are missing across the board and you can see the stock is reflecting that. i will try to use my 2007 blackberry if i can get it to charge because the curve is hard to work with. >> corporate eric gan said

not like the two ceos but we will be back. j. george says they were targeting the left groups as well as democrats accused him to be biased and we have been following this story better than anybody. >> the it is confirming that the so-called evidence of the ira's targeting liberal sampras's equally is a bunch of bull. we have examined carefully the whole party shows that that proves progressives were targeted as much but it does not prove that at all and the ig has been very specific from the beginning rural letter on wednesday because of the erroneous press reports and he said we did not find evidence that the criteria you identified to label progressives were used by the irs to select

potential political cases during the 2010 through 2012 timeframe. now instead of saying they were wrong now npr in the new york times are accusing him of changing his tune this was the story the inspector general changes his tune. he never did. he never said they were equally targeted at all. charles: he has been playing it down the middle. but this reaction from the left. >> this is the new york times. one word about how they miss reported what the idea had been saying. i will do this. just like the congressman did to the report from the irs. >> they were so desperate to win still the narrative that liberal and progressive same way that they have to

hold onto the little nugget that wasn't true been remitted to establish the narrative. they want the story to be was targeting everybody and the irs is out of control but it was a strict political agenda to only target conservatives and conservative groups. the irs has admitted that. >> there was an effort to cripple a political movement that threatened the president's reelection. to be specific 2010 when they saw the power of the tea party with the republicans won overwhelmingly they did not want that to happen in 2012, the ira's somehow apparently got the message. charles: so this gets the question back where did the orders come from? even if not direct orders from the white house was there a suggestion if you do this, you will be my favorite? >> the whole objective was to kill the tea party movement in the cradle before they can get traction

remember in 2010 people said where are they? this move had a material effect on two election cycles. when you talk about how high does it go? this is just the beginning. charles: right now we will talk about the new normal. weak economic growth, high unemployment and carly fiorina is still with us. if you your ben bernanke talk i print this money because no one else is helping, wink wink. fiscal policy. is it right for corporate ceos to make the decision to bring the country back? >> one of the things i find disappointing and amazing is several years ago now, some symbols, at a commission inaugurated by the president

says something that is sova bipartisan to save as a fundamental tax reform coupled with that we have to have fundamental regulatory reform if we continue with the tax rate that is uncompetitive, the highest in the world, and a tax code and regulatory spigot that is killing with this complexity, this is why small businesses land on their back incorporation sit on mountains of cash cash, because they are nervous about investing, they don't know where demand is going up and tell a and unless we take on fundamental tax reform and simplification of the tax code, we will be underperforming as an economy. charles: from a political perspective, it worked to the president was reelected to say that they wanted to change some rules to put more money in their pocket,

everything fell into their lap. do we have to live with this reality for the next three years or at some point* could the economy pushed the white house to make a conciliatory move? >> i certainly hope so but who knows? when you hear the president's speech about the environment you're not left feeling very confident we will do the right things for the economy. i found it depressing depressing, honestly, that tim cook is brought up in front of up by partisan group of senators and excoriated out the tax bill that he pays because it is a fundamental misunderstanding of what we're doing too big and small companies. charles: that is disingenuous because i bet all those people that brought him up they did not call up to say make sure i pay up every single tax that i can. >> of course.

lot what has been much more rewarding and productive if that group of senators called up tim cook to say you're one of the prize is a very american economy, a great technology, what should redo to help you succeed? what should we do to the tax code to make sure the small entrepreneurs that you count on our thriving? but they did not do that instead they said why aren't you pay more taxes? that does not get us down the path and. charles: it takes us in the opposite direction. it back to nicole because believe it or not i think we have a winner. [laughter] >> at a new high looking at a game stop up four-point to 5%. everybody knows they were on the teeter charter concerning the new police station with the x box and if they could use the old

games because that is how they make money but it turns out that they can. so they buy them and sell them back and they have of charles: bankamerica says it has more room to the upside but it just goes to show you. i have a question. or women hall to a different standard when their chief executives of fortune 500 companies? do men get a free pass? if she was at hewlett-packard she did one of the most amazing job sid did not getting enough credit. after this. ♪ everybody has different 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. ishares core. etf building blocks for your personalized portfolio. find out why 9 out of 10 lae professional investors choose ishares for their etfs. ishares by blackro. ca 1-800-ishares for a prospectus, which includes investment objectives, risks, charges and expenses. rearisk includes possible carloss of principal.sting. charles: it is time to make you money i have had this before it was commissioned in the '80s the company makes all kinds of things with natural gas a lot of business in america and

china. natural gas is doing extraordinarily well the matter who likes it or who doesn't. look at the chart. this might be a chance to pick it up on the weakness. carly fiorina is still with us we'd like to get her take we will start with christine who stepped down of lulu lemon after the overpayment controversy. >> even when the scandal came up by thought she was swift and action they communicate with shareholders and with the public and i wish shocked their reported earnings the stock was up then they said she is leaving? it was crash. with that have happened to a man? >> in this sense i think it was a compliment to her that the stock was crushed.

>> that she is the genius behind this brand and face it every company occasionally has a product. charles: that is my question. if there was a man running this common ge geoffrey in milk, are you kidding me? si in here is the most amazing company and nothing. goes straight down if founders it is a global company and he could not do anything with it? he still got the big. look at the chart before you even answer that that is the tenure charted christine gets kicked to the curb curb, though one mistake that she corrected overnight ? >> i don't think men ceos get a free ride but i do absolutely believe that women in positions of power and authority whether business or politics are subject to a degree of scrutiny and criticism that men are not the and it is still the case. not only is there a level of

scrutiny that is more intense than critical but women continue to be lumped together by their gender. people talk about those women ceo in an inner not lumped together like that so i think gender cast is all over this. >> is largely because they are still relatively rare that when you say a ceo who happens to be a woman that they need that adjective female in front of it but my feel this politics i see the same thing. conservative women are held to a different standard but across the board politicians that a female are subjected to the same double standard and hypocrisy of the corporate world. charles: the market has spoken out loudly you guys are making a mistake.

i don't know who has played a hand in the us but in this case she gave no to smell like a rose but it has not changed a lot. but there is one person mayoress of wire from fiat new. she said all the right things and she should get up and the stock went straight up on the strength of her personality. >> i think beyond the personality. >> what the market saw was someone who understood product and had a sense of the yahoo! competitive advantage. that is where yahoo! is floundering with a bold acquisition strategy that is in line with thinking they think maybe teeeighteen can be competitive.

charles: i think the operative word p.j. she caved in boldly and made some pronounced efforts and shook things up and you will not work from home and she shook up the corporate culture right out of the gate. >> not to underestimate the freshness of the energy, a fresh face with new ideas but she did not do it right away. coming back to the whole female issue. she had a baby and builds a nursery in her office but at the same time the broad statement that nobody can telecommute anymore while she has her child next to her that is a huge controversy would not get with a male ceo but in fact, may be one week later a male symbol -- cma is similar pronouncement and it was buried somewhere. no question that women walk

a fine line particularly when they start to delft into women's issues. with everything of her decision she is a ceo is she is entitled to make the decision she thinks serves her company best although with the flexible work arrangements are it to the most benefit of working mothers. >> she bristles at being called pretty or attractive but when you read about her that is mentioned. does that matter? it seems people say that. >> a woman's appearance is always commented you never hear people comment endlessly about somebody's hair, appearance, if they look tired of their attractive for what they are wearing you never hear that with men viewless do with women so it is a different standard. charles: that is something you guys have to worry about.

[laughter] this time california dealing with obamacare -- obamacare it training teenagers to promote obamacare to their parents. you cannot make this up. we will talk about it. next. clients are always learning more

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charles: look at the big board. the free-fall of stocks the consensus was 82 point* seven so a little dollop of good news otherwise a bunch of bad news. nike is one of the losers. >> it is the unbelievable global company with growth but the chinese -- the china story is a little soft right now down 3%. china orders were flat north america is doing great but china's solid growth with the look is a little soft. in the analyst is raising the price target with one hold and one and neutral. charles: they were making sneakers for the low-cost you would think they need to sell them. that is amazing. apple found during this

week. >> take a look. and 391 getting closer to the annual low numbers. the truth is we had a winning week and we're trying but apple is nowhere near 700 from last september? charles: it was up this morning on the black berry news the lives of people are giving up on apple finally. forget about math and science california schools have a new curriculum teaching students how to sell obamacare to family members. carly fiorina is still with us she ran for the senate and what do you make of this ? i had mixed knee-jerk reactions. >> first of all, california is a further down the path with implementing obamacare. sadly, i am not particularly surprised as we all know know, young people buying into this program is key to

the financing. but in california there are 26,000 government employees who are supposed to do the job to determine eligibility for programs like medicaid and many, many californians who are eligible don't know they are eligible. in other words, the government is demonstrating its incompetence to fulfill a fundamental mission. charles: that the idea to fulfill it to make teenagers by on their parents? there is consistent -- conspiracy history buffs remember the. >> this is nothing new. in 2008 they appealed to the young voters to talk to your parents hollowed dynamite barack obama is but we are dealing with a large scale law. a brand new fox news poll released shows 50 percent, a record high want it repealed

its entirety or partly. 66% of the american people are terrified in they are very worried. so you have team obama of trying to do the puerto rico blitz trying to enlist the nba now hollywood now young kids to try to sell it. they know this is a loser they know that the government cannot run anything well let alone health care so they try to do the best they can. charles: california has been the most receptive so maybe this is ground zero that if they cannot work in california it cannot work anywhere. >> if a dozen working california it doesn't work anywhere. if you know get young people to sell their parents to buy into the program literally, the financial collapse. you have to have young people. charles: this is an

unsavory. teenagers? >> a think it is unsavory a curriculum in a school is directed to a political objective. that is bad news all the way around but sadly edified it surprising. charles: your right my son is 16 and tells you he is learning in school and it is shocking but i am glad he is speaking of the signals on his own. charles: i tried not to push in any particular direction but he has been smart enough so far. we will see. get ready we're about to have a fight. me verses' ambassador john bolton. it got a little heated just today we will continue the discussion after the break. >> bad economic news comes out in the market goes up because they think the fed will keep buying. that is crazy. charles: your argument is why everybody miss the market and bought gold ever

getting crushed. gold is down 30% this stock market when henderson there waiting for the bottom. they're waiting for the crash. [ male announcer ] the meedes-benz

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charles: the senate passed a historic immigration reform bill last night just like obamacare they did not even read the entire bill but one did what they found was outrageous. there was a loophole $5,000 for hiring a u.s. citizen over in alien. this is outrageous. >> totally. the same holds true for the immigration bill. chuck schumer said the more the american people get to know what is in this bill the more they will love it. it is the exact opposite. the american people have not had time to process everything so we will see a courageous things like this every single day it is loaded with pork. new stimulus spending and this prioritizes newly legalized immigrants over american citizens? it is insane.

charles: it is nuts. it feels like this bill has ripped the republicans apart. i feel like everybody loved marco rubio. people are being called names but can the republicans come out losers? >> they walked right into the democratic track. they knew it always tears apart in divides the party that is why they went down the road right now. they want to lock in the majority with hispanic voters to lock that is why they're doing this to get millions of new voters but the republicans are thinking this was all about immigration in seoul marco rubio am paul ryan trying to negotiate. has nothing to do with it is about the strategy shift to lock in the permanent voting majority and the republicans have fallen for included marco rubio.

charles: is it outrageous that someone who can campaign to say you could get a job before in illegal? >> no republican would be elected with that. charles: you have to expect more things will come out. >> we are still learning things about obamacare. up more of the reality comes out and it will be the same with immigration that is why i am counting on the house to kill with the senate has done to not go down this road until the and forced the border. charles: yesterday i got into a match with john bolton over the market's. we got the wraps signal so we brought the ambassador back today for what we're calling round number two. ding ding. ambassador? >> i am ready. charles: ipo you an apology because we have a lot of

people who come in the show who were not in that market at all but they are a angry at the stock market rally and they say it will collapse but you have read in income statement. i am unsure the last time but you know, about them that makes me more curious as to why you are so negative with all stocks been higher and dismissing this as a house of cards that will collapse. >> i think what is happening , the market is forming a the asset bubble because of money through the fed with quantitative easing in holding interest rates low. not to say individual investors should not take advantage of the market. i don't take -- talk about it from that perspective but public policy. there will be a reckoning in inflation but there are adverse consequences with easy money policy right now by holding interest rates

down to discourage savings and the fed is displacing private investment and the notion that the fed monetary policy can make up for bad fiscal policy is a big mistake. is well beyond the functions of the central bank and not only has negative economic consequences but negative consequences in terms of democratic legitimacy. charles: i am on the same page with the federal reserve. i pointed out earlier when alan greenspan may be irrational in severance speech about the market being ahead of itself that was 2006. we took a hit the and then we rallied, for the next four or five years but trying to call it is difficult. people sit on the sidelines and just watch.

with late 2008 and early 2009 a lot of the same people put all assets into gold thinking the fed will print many and inflation will go crazy but they are getting crushed. >> that is a function of their decisions as individual investors i have a tiny amount of gold i have not counted on it and my wife thinks we have more than we should. but if the market valuation is in excess of the fundamentals and inflation kicks in there will be a reckoning. the fed says no. we're worried about inflation and we will catch it am prevented if i can say is famous last words. it is a type of risk. i about bernanke did the right thing by saying quantitative easing two or three or four will the last for ever. be realistic that economy is

starting to recover so we should resume their normal role not as the sole instrument of policy but the central bank. charles: maybe he agrees but i also hear him hint at fiscal policy. do you think the fed thinks they have no choice or no partner they do all the heavy lifting themselves so that is the extra risk? >> that is a problem. if you have gridlock in the government that is the way it is. people get the government they deserve and in tel we get straight what kind of policies we want to me will not have a coherent regulatory policy. i say it has done more to retard companies than advance them but it is not plan be with the elected political branches don't function. who elected the non transparent, autocratic, of

very distant group of very intelligent people? we did not select the it aristocratic form of government just because the fed has the import control does not mean the other branches are not doing what you think that the fed should step in. nobody elects the fed or campaign. i think it moves in the direction of the european union where government of italy and greece to the wrong thing to push the of government aside in the european union takes over. it is a big mistake. charles: i agree 1,000 percent i am glad we e mailed each other. [laughter] >> ground to number three. [laughter] charles: have a great weekend. in now bound to cause controversy, imams who smoke pot they say it makes them better parents. and we have one of them with us. friday night, buddy.

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charles: blackberry shares taking a shellacking. posting a loss for first quarter and analysts say

there could be another loss this quarter it is down 27% in nike reported a good number of revenue up the first quarter boosted by sales but the sales increase also with training gear but the stock is down for a wal-mart, target, a the food network, a son of the company's cutting ties with polychaete but her cookbook is lighting up it is number one right now on amazon. my next guest says smoking pot makes her a better mont she is in the studio and her daughter is here as well. you have to see this. next. we gave people a sticker and had them show us. we learned a lot of us have known someone w's lived well into their 90s. and that's a great thing. but even though we're living longer, one thing tt hasn't changed much

is the official retirement age. ♪ the question is how do you make sure you have the money you need to eoy all of these years. ♪

charles: great news. they will be getting a signing bonus of $160,000 here is the catch they have to agree to serve another seven years but i have to tell you something, i hear about a lot of people getting bonuses and this is hard to argue. >> as a fiscal conservative we want to see fiscal responsibility but the government's been so much money on craft that it is nice to see our tax dollars going to the u.s. military. we would not have a country without them. charles: fantastic.

let's go to nicole. the teamsters settled up with a big trucking company and those shares are rocking >> big news. take a look. this stock is up 15-point to 5%. the teamsterr ratified the collective bargaining agreement for the next five years. it is a big deal to boost profitability and a key move and anybody who owns the share knows it and that is why it is jumping. charles: that was a $6 stock made a huge move. we know that marijuana is illegal and there are some moms that claim smoking it makes them better wives and better mothers. we have the founder of the you must know a lot of club. fellow brothers in california who partake and

everybody thinks it is a good thing? >> want to clarify something very quickly because the headline said smoking marijuana makes us better moms but most of us who are educated know that it actually vaporizing is the healthiest in take matt did so instead of smoke you will see products like these. charles: but the bottom line is inhaling marijuana helps you to be a better mother. >> absolutely. in my particular case i have a mood disorders are in the past might doctors prescribed a bill to go to sleep, a bill to wake up and into exile in the so one day literally in my psychiatrist office he said you just need to smoke a joint. i felt like i was on "candid camera." it was 1996 and he had his own garden in the backyards and he showed me his i tried it and it worked with me and

then after going through a horrible to force my husband -- my eight children will tell you instead of being in bet and went back to coaching then i was diagnosed with cancer in 2006. berry and cancer and is supposed to be dead by my birthday so in hospice care i learned about gc cannabis in and ed get rot and cooking with it. it does have a high strained that is not a psycho active it makes me a better better, because it saved my life. charles: but the overall message is people watching this is that it will help you. will it work with every mother? is it a blanket statement that if you are not a great mother you could be better pick up a joint? >> i don't recommend joins. charles: but the bottom line to take in the cannabis.

>> they do know a number of women that find that they have less stress and anxiety and cannabis works better than most pharmaceuticals. charles: we have three boys and my mother had to be cognizant she could not necessarily be lucy goosy she could mess. >> i don't think anyone should over medicate war of use cannabis whether tobacco or alcohol or pharmaceuticals but it works very well as a stabilizer. charles: i don't know anybody who smokes we that does a in a responsible way. they smoke as much as they can. >> you are hanging out with the wrong crowd. [laughter] charles: i don't hang out with them. do you do it in front of your kids? >> i don't smoke.

charles: do they know you're using marijuana to help your situation? how did they react? >> i came out of the closet with my children much the same as others come out with there's. i have a policy of being totally honest to be educating them. they're absolutely 100 percent supportive and it is important to educate our children. >> it is a great story. [laughter] >> now you can always think of me. maybe next time. >> my daughter i am proud of her she has never left my side with the four years of cancer treatment and we built a multimillion-dollar company building vaporizers as well as medicated chocolate's. charles: thank you very much congratulations. the unions are still with the working families white

is a surprising number want to get out of the organized labor movement? we will shock you. right out of this -- right after this. for the long haul. ishares minimum latility etfs. investments designed for a smoother ride. find outhy 9 out of 10 large profession investors choose ishares forheir etfs. ishares by blackrock. ca 1-800-ishares for a prospectus, which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal.

charles: a new study showing one

third of households would opt out of their duty and if given the chance. one third, that is a pretty shocking number. >> we did a survey asking that question. would you do so? one third of union members across the nation said that they would. there is a significant portion of union members across the country that want to leave. charles: what is the biggest beef? why do they want to get out of these unions? what is the pushback.

>> we find that every employee's story is unique. something i can spend by thousands of dollars in dues better than they can. others find better nonunion alternatives. there is not one hard and fast rule. some have objections or they are supportive leftist. charles: this is something we talk about a lot on marty and company. it is great to see someone out there actually pushing back. we will get you back from time to time. >> i look forward to it. charles: it is not over. we have a whole extra hour for

you. here. stay rightoo there. the local all is a surprisingly low price -- just $7.95. lower trade commissions than schwab, td ameritrade, and etrade. i'm monica santiag of fidelity investments, and low fees and commissions are another reason serious investors are choosing fidelity. now get 200 free trades when you open an account.

charles: here it is. the highlight reel. >> signaling that something is wrong. i talked about the inflation very recession that is coming. the next target is about 850- 850-900. until and unless we take on fundamental tax reform and radical simplification of the tax code, we will be underperforming as an economy.e. how can we make sure that our personal information is going to be kept secure? >> you have team obama tried to do a pr blitz. i think they know that this is a letter. charles: that was then. this is now.

the bonus hour of varney and company shows with a poll that shows chris christie is up and hillary clinton is down. a new video game console that could be big money for a lot of companies. we found another gold bull who says he is fine even though they are about to have the worst quarter ever. one more hour of "varney & company." stick around. the fun starts now. ♪ charles: okay. dagen and connell will be back on monday. let's check the big board. michigan consumer confidence came out.

put the brakes on the freefall. now we are coming back. keep watching. one of the things that is hurting us is ibm. it is down big. if they were not down, we would be up in gold. it is under pressure. it has actually rebound. the magic number for today, for the dow, we want to finish the month higher. it does not look like we will get there. one hour ago it looked a whole lot worse. this hour, elizabeth macdonald is with us. >> i was watching you with john bolton. i thought, my god, he needs general schwarzkopf.

that money ends up somewhere. that is what the issue is. it is really hard to deflate a bond bubble that the fed has blown. it is like popping a balloon. charles: i think we all know that something bad has to happen what we do what we have done. it is just pinpointing that. are we going to come all the way back? stick the fed could say we will keep short terms low. it is hard to turn onto that. investors are running away from the 30 year. it is hard to control interest rate spikes. charles: getting back to nicole. blackberry getting slammed today. nicole: we are seeing it under significant pressure.

the black berry is down 25%. they are not indicating which ones -- they are noo meeting the expectations. charles: you could have argued this was a the flexion quarter. let's talk about a company that also used to be a big-time winner. jetblue. nicole: it got a really big top at one point. everybody remembers when jetblue came out. when jetblue first started, there were reports that he was interested in taking jeff loo am purchasing it. he is denying that right now.

he said he never discussed that. in the meantime, now the rumor is out. charles: i am sure that you will keep following that. we follow gold very closely on this show. it is on track for the worst quarter ever. i do not think anyone solve gold falling a part to this degree. it had hit an intraday reversal to the upside. is now the time for people to start looking at it? >> yes. i think it is. this is the fourth time in my career that i have seen a market like this in regards to gold. it is insurance that does not involve a promise to pay from an insurance company.

i think it is something good to have in your pprtfolio. the fact that gold is cheap is good. charles: i think one of the major stakes that the gold industry has made is selling it as a doom and gloom asset. two years ago, and andy, they found this gold. back in the day -- gold was a restored value. why does the industry sell ii as a doom and gloom asset? >> i think that is a wonderful question. the sign said motel six. sixty-nine dollars.

i do not expect it had 11 times more utility than it did in my youth. charles: you are a brave man. we love it. that is why we want here. we will come back at you. see you soon. >> pleasure. thank you. gold under some pressure. nicole: look at gold stocks. it is virtually flat. gold stocks are bound back here. they have obviously sold off significantly. this is the worst quarter forever. down about 20%. they are getting a nice pop here today. charles: we will come back to you later on. first, let's talk about this ipo.

neutral and company. nicole: writes. 100% to the upside. look at what is going on here. this is unbelievable. charles: facebook, eat your heart out. when it comes to the 2016 presidential candidates, former secretary of state hillary clinton still receives more favorable ratings than anyone else. those numbers have weakened since august. chris christie's numbers are on a rise.

chris christie has done a lot of things over the last six months that angered diehard republicans , but has really helped him with everyone else. >> the states you have to go to first or iowa, new hampshire and south carolina. if you do not make it through -- he has been able to brand himself. charles: may be sending an olive branch to the conservatives? >> this is a guy who takes his own counsel and says what he believes. he believes what he says. that is kind of refreshing.

it did not work for me. [ laughter ] charles: some of these guys, all it takes is 1 foot in the mouth. >> you can say one thing, you can do one thing. the iconic hub with obama and not can be used against you. here is the difference, charlie crist is a guy who did not believe anything. >> i think, i think that the

media is tension is working and christie's favor. i am saying if he is the only best choice. >> i dare any republican to say i can do this whole thing without the conservative base. they will be such a marginally irrelevant candidate that they will find out how important the conservative base is. charles: we have seen it a lot lately where the guy who wins the primary gets crushed in the general election bid. >> when have we had a conservative?

i would say that it is not a feeling position. >> reach out to hispanics. reach out to agents. immigration.ng through on ignore all of that. stick to your core conservative convictions and you will be in the white house in 2016. >> give a message that talks to everybody. republicans are failing not because they felt hispanics, but because they feel the entire working class of america. charles: governor huckabee, you are fantastic. >> good to be with you. charles: we are watching the market. big moves and a lot of stocks to watch. you do not want to turn no. obama's small business. after the break, -- if she was

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♪ charles: we have to go back to scott. we just turned the did. what is going on? >> i think they got spooked. we have and a quarter, and of months which is driving us back. charles: when you see a market, the dow up 120 points, this kind of resolve, do you say i have to jump on this bandwagon? >> with the dow down 120 and we do not have any follow through, it is the end of month end of quarter here, they may try to turn a profit just to make the books look good.

we were watching the gold early. when that did not really know the day, it change people's minds. charles: have a great weekend. he only has six employees. irrational. only 3% of small businesses will be impacted by obamacare. you are saying that is not true. >> it is not true. my hmo coverage plan is now

telling me next year that i can expect my premiums to rise by 50-$0.100. that is the biggest increase i have seen in the time i have had a plan. charles: what is the reasoning? why is that? are they telling you why? >> they are not telling me why. they are telling me that their costs have risen dramatically. you want to grow your business. it hampers it a lot. i am ot sure we will be able to continue offering the plan that we have to our employees.

it is very flexible and useful for our purposes. i am told that obamacare may make the plans go away completely. >> it is elizabeth macdonald here. this will be such a haywire longed for health reform. have you considered saying to your employees, this is really tough health reform, you may want to consider the state exchanges. have you heard anybody doing that? >> we have not done that yet. there will be talk along those lines as it becomes more real. the complexity of this wall has made it really hard to plan for. i don't know anybody that understands this law.

i do not think that nancy pelosi understands this law still. charles: anybody think maybe we made a mistake? >> the people that i can talk to that still have an open mind, i think, they are starting to question and lot of reality of the nuts and bolts of this. charles: we will come back. >> they are not so keen. [ laughter ]

charles: tanks a lot. e cigarettes. we talked about it. we were on top of this before anybody else. the feds could be about to step in. a tariff on high-end jeans. they now want to close their u.s. plant and moved to mexico. ♪ with fidelity's tions platform, we've completely integrated every step of the process, making it easier to try filters and strategies...

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♪ charles: time now for a market check. the dow is starting to pull back a little bit. ibm is starting to come back down. it is down less than 2%. many people turning to them. joining us now is jo ling kent.

how big are we talking? >> it is a $1 billion business for 2013. it was 500 million last year. 31% of people who take up he cigarettes are successful in quitting. charles: they're big boys seem to be coming in. that will probably make this grow even more exponential. >> that is right. >> view withdrawal symptoms reported. will these ever catch on in hollywood?

>> there certainly is less of a sexiness factor. charles: the hollywood thing is off. >> the industry could have an opportunity to sell this as something that helps you get off of smoking. you talk about this and how many people have been able to get off smoking by using these cigarettes. >> that is right. the states have levied so many taxes on tobacco. charles: i have to talk to you and i know you love this story. tariffs on high-end jeans. >> they are increasing their

terrorist 12% to 38% on you than him. people are going to be out of jobs in l.a. >> weren't bluejeans invented in california? people are really mad about this. >> at true religion, they will be moving the factories to mexico in order to compete in europe. people are not buying premium denim and asia and africa. charles: 70% of these genes are made in california.

>> that is huge. we are talking about the luxury industry. 12% is already very expensive. >> $300 jeans out there. true religion. a 40% tax, what are we talking? >> prices will go up 26%. the issue here with that is some companies are saying they will absorb that cost. they will swallow it and try to keep the prices as low as they can. it is very difficult. charles: are you going to keep up with that question. >> i am a gap jeans on sale.

[ laughter ] charles: high income people spending big-time money on their backyards. millions of dollars. that is next. look at how sweet that is. ♪ everybody has different investment objectives, ideas, goals, appeti for risk. you can't say 'one size fits al. it doesn't. that's crazy. we're all totally different. ishares core. etf building bcks for your personalized portfolio. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackrock call 1-8-ishares for a prospectus, which includes investment objectives, risks, charges and expense read and consider it carefully before investing. risk includes possible loss of principal.

>> one-third of student loans will never their degree according to a recent study and congress just went away without doing anything with this to the low rates that will double or go up significantly. >> i don't like what is going on with stallone's.

it is astonishing the students are not getting a college degree loaded down with debt and we have a food fight over though rates but the high tuition and costs is the real problem and the college business model is like a hotel mogul it is a hotel business model. that is how they are being run and gouging the american family and the middle-class and here is an idea. makes the college's guarantee the loans because their nonprofit. make them back the high student loans that go to pay the very high tuition cost. >> that would be backing the ability to generate kids to have marketable skills they will go for that. [laughter]3 charles: when you give the green light to raise prices six and a percent above inflation why change? >> when you build forsees in style cafeteria style or white elephant football

stadiums. charles: i thought you said boeing -- the luxury indoor furniture quickly making the way to the backyard of elaborate outdoor spaces are the latest trend for the up high and homeowner. candace jackson is back. you have the coolest outdoor stuff. blow me away and make me jealous. >> backyard is looking like death pnc is remove the inside of your house. dishwashers comment bathtubs high and furniture, a flat screen tvs, rugs, silver wear and cutlery for your outdoor kitchen that might have a pizza oven and granite countertops. very high end. charles: a couple years ago the pizza became big that was saw hottest thing is is something now?

limit the dishwasher is the newest because you have a pizza oven making your meals out there who wants to run back and forth? this cannot last summer with the outdoor dishwasher it. charles: is a the same thing with a couple of extension cords? >> no. behalf to be made completely differently because they have to withstand the storms and the rain and they have a winter road to turn it off in the off-season. charles: we spent what i think is a lot of money to have the pool redone and outdoor furniture. i know it is not the drop in the bucket compared to what people are spending. >> it probably is it i found some pretty elaborate backyards where people are spending at $1 billion and they hire interior designers to finish this base with the decorum like inside.

they always kept elaborate gardens now of course, we go in a different direction. to use the word bling it is in your flays. if you walk in our backyards it is not about ellingtons behind making cash money. >> in some cases it is not so subtle. they want the choice to show off like a huge flat screen tv is deaf and lead beyond the garden looks. their specialties with the brighter screen and withstand temperatures between 24 below zero and a hundred 22 degrees. charles: is it too early to say if it helps with the resale? >> did you go too far if it is to over the top it could hurt the resailed valuee3 because it will not appeal to every buyer. charles: hold on. we do have breaking news

from another fed governor. september is one of the possible meetings when the fed could start tapping on the brakes with the money printing may be that is why the rally fell. right now of what a quick comment they had forecasted that september is the early early start to tapering. the dow was down 30 but with such a heated debate to put it time frame on it to than say dependent on the data. >> that is the crux of why everyone is frustrated to make decisions based on the calendar or data? whenever they say it is time to taper be will taper.

>> is counter to ben bernanke. >> i am very jealous of your job that everybody's backyard cost more than mine. >> i just a few ideas. >> day you know, about the new game consoles? they say it could change the way gamer's play. also a reason why so many geeks are rejoicing. right there. next. the. >> is in college great? it will be a great year. [laughter] 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 retirementge. ♪ the question is how do yomake sure youave the money you need to enjoy all of these years.

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charles: and gas prices down again overnight the national average for regular gas dropped at $3.51 down more than a dime over the past month we will check out the price of oil that has been steady. look at this. we're watching the price of coal closely making a big reversal made many people take this as a buying opportunity. shares are up day after the retailer with the upgrade coming from a boost in sales from a clothing line and adjutancy the shares are up over 10 percent. and drafted by the cavaliers as the first overall pick in the 2013 nba draft.

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charles: to get back to the breaking news richmond fed governors said september is a possible meeting when the fed could start to tap on the brakes of all the many printing. we have david jones is joining us now. you actually said a lasting you were here this is the timeframe that you saw the are you surprised after all of the back-and-forth with the fed somebody was say that this week? >> i am amazed. i would like them to be more precise because they think the markets don't like that. we have seen a lot of volatility based on the first hint the fed might start tapering back with the

monthly bond purchases. but september is perfect as long as the labor market conditions continue to improve on a sustained basis and i look for that. maybe we will get $20 billion knocked off in september. charles: is the fed making a mistake to say it depends on the data? it is like the new diet pill works and it is almost a no-brainer. so why even bring up the date? >> but it is highly confusing. we have two different decisions. when to cut back on the monthly bond purchases that cause the fed to become more accommodative every month and the next decision down the road is when to raise the fed funds rate that has been added the same rate for ever and it is a confusing

decision even the policymakers seemed confused charles: you called this a and lacker follow do a. thank you for coming to the phones so quickly. a new video game consoles changes the way games are played. $100 system, of it gives the google android operating system the small -- the same games they play on the small screen to the television and they could be working on their own this is the way it could move with the video game industry and here with details, you always come up with the coolest stuff but to take the games from tv to put them on the phone know they take them from the

phone onto tv. >> right now you have a ton of mobile games that cost a dollar but they're stuck on the phone that when you go home and sit on the couch that is what it is 47 taking the world by storm. it has sold out already? >> they're all gone. >> delivery problems? the demand is more than anybody thought it would be. >> it was kickstart did and made $9 billion so they try to support those folks first so they try to manufacture them as fast as they can. they're having a tough time. charles: is it too early to say it is the major game changer a paradigm shift? >> a major game changer if kugel jobs in the same space will be a serious competition for those consoles letter for $5 they may not have a good argument charles: i will shift gears a little bit think of america said the look at

game's top we like it so much the $40 stock will open 55. with the expert, we play the game stopped on the deathwatch 12 points ago. do you feel maybe they will survive? >> no. when reported on deathwatch i said three or four years down the road. short-term they will have a strong year because it is a hardware year exxon walks, a sony, time and x box but then after this year and it is software and it will go digital. >> how does this work? >> it comes with the hdl my wire you just plug it into your tv. charles: but the video-game industry is evolving and it is hard to pick the winners and losers? >> but once you buy one of

the boxes are the exports eppley station come you don't need to go to the store any more. so that aspect is not as important. charles: in the new causal is a real deal? >> it is a paradigm shift for sure up next tuesday highlight reel for the week.

charles: an amazing week here on verdi and company and we still have even more highlights than normal. roll them. >> and like the combination of sugar and caffeine. >> then don't drink it or have mom and dad say don't drink it. >> nobody will warn the kids

[laughter] >> is down $7 million. >> you will not get the argument from me. >> this is government this is what you support. >> we can't find him? fled mayor continues to run the kgb and obama was a community organizer. do think he could find somebody? >> i dare any republican to say i can do this without the conservative base. they will be marginally relevant candidate that they will find out how important the conservative base is. charles: we had fun but it was also about paula deen who took hits and kmart and sears and qvc also stopped using her for the show. what you make of this? there is a lot of angles and >> she was rocking it up now

falling like a stick. qvc says they will take a pause and sears and kmart now target also said the follows on the heels of the food network but the reverend jesse jackson comes to her defense after she called him for help and he said don't make her the sacrificial lamb she can be redeemed but this she has offended so many people that they were so offensive you have to wonder how long it will take to make a comeback charles: and i am so fortunate that so many of my partners and have stated -- decided to stand by me. only to have drawn me not qvc but i am so very thankful for the partners that i have that deleted he. of course, a couple days ago since then everyone has

dropped her. >> a painful statement to make she did it before qvc cut the ties. charles: if she'd done? we are in nation never gives a lot of people. >> she has such a strong following and she is so appealing and entertaining to watch a and there is a backlash on the facebook pages from the companies that people say easily if you cut ties with her i will cut ties with you. that is something to pay attention. charles: her new book is number one on amazon and to your point*, a lot of people who live in glass houses are throwing stones. it is tough. do you tear down a multibillion-dollar empire built by someone who was the single mother selling chicken salad sandwiches out of the back of her car? a true american success story doesn't go away? >> you destroy somebody court january deem them to

make the change? to give paula deen a shot? jim, let her do the apology to work to put that out there i will not use those words again. >> she has to come on because the printing experts ha the whole apology is about how she feels and said of the people that she often did. charles: i am predicting into were three years she will chip away never to the height of the four vichy will do well. more after this. [ larry ] younow throughout history,

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yoare gonna need a wingman. and my cash back keeps s the party going. but my airne miles take it worldwide. [ male announcer ] it shouldn't be this hard. with creditcards.com, it's easy to searchundreds of cards and apply online. creditcards.com. >> cheryl casone and dennis kneale about to take us through the next hour. september is the month to watch. i have to tell you took a little while to start up the market but not a lot of starch. what will happen ultimately as we look at what point may be all of it won't impact the news at some point the fed will taper

and will even raise rates. i think the market will get used to it. we didn't collapse, off 100 point120points earlier today. a worst-case scenario leading to people who only thinks stocks are up because of the fed action. if we close positive today the best news could be all the fed worrying, the fed height may go away and we can trade on the rumors. what o you think? cheryl: is this a bull case? charles: i am bull at least the last few months of the year. dennis: dow 16,000 by the year-end. charles: i am with you. we will see.

cheryl: ca cannot come either w? can somebody else pay? dennis: you can buy. charles: ben bernanke is buying. cheryl: thank you charles, charles payne. some of the best managers will be here. they have picks they say will make you money absolutely. dennis: lets go to the market kind of day was down, recovering a little bit. phil flynn will have more from the exchange. but nicole petallides at the new york stock exchange. nicole: 14,484. that was belo the low of the da. but now, above the 15,000 mark. releasthe resiliency of the mar. the uncertainty remains, but for right now you can see we're squeezing out