♪ imus in the morning >> fill her up, get the keys, get in the car, gas it up now. the fallout from syria continues. good morning, everyone. expect an attack on syria very soon. leaks to the media suggest it will be short, but america will not act alone. a resolution for action will be presented to the u.n. today. the markets are taking no chances. oil, that's reached a two-year high. gas prices will go up. fill her up. stocks are down some more after a huge loss yesterday. and gold is up again. now, this is another negative from an already weak economy. news today of another disaster for household income, but then,

there's this. she's 17, she's an american, she beat a former champion. you want to see something uplifting? here she is, there it is. "varney & company" is about to begin.

>> there it is. a u.s. attack on syria is imminent. sources say the attack would likely be short and limited and here is the latest developments. the u.s. ruling out a unilateral strike. we will not go it alone. our allies are already lining up. france said they will stand with us and the brits say they'll back us up once the u.n. gives approval for a strike. russia and iran adamantly opposed. russia says it would destabilize the region. iran says intervention would be a disaster for america, and the arab league says, stay out. the news out of syria, no surprises here, it's again affecting the markets. look at the price of oil. now at 109.79. it had touched 111 earlier this

morning. ap gold is up again. well, actually down now 20 cents, but look where it is. 1,420 per ounce. okay. and the dow clearly getting hammered yesterday. and right now, we're expecting a tiny loss at the opening bell, basically flat to slightly lower, but obviously no bounce back. the fallout from syria continues. in our next hour, we're going to talk to former air force general tom mcnerney and thinks that an air campaign against syria is a bad idea. he'll tell us why. what is going to make you sit up this wednesday morning, 4,000 firefighters now taking on the yosemite fire and burned already 184,000 acres now in the top ten largest fires in california history. michelle obama's push for healthy school lunches hits a setback after one year, some school districts are dropping the program altogether. too expensive they say and the kids just are not eating the food. and get this, please.

a new study says middle age now begins at 53, oh, dear. but the markets they're about to open and that's the focus. yesterday on "varney & company," we had a guest. he said there's a double dip coming for housing. today we've got someone who predicts mortgage rates could eventually go as high as 14%. doesn't it take you back to the '80s? stay there everybody, another big day is coming for your money. the bell is next. the boys used double miles from their capital one venture card to fly home for the big family reunion. you must be garth's father? hello. mother. mother! traveling is easy with the venture card because you can fly any airline anytime. two words. double miles! this guy can act. wanna play dodge rock? oh, you guys! and with double miles you can actuay use,

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♪ come on to my house, my house, i'm gonna give you candy♪ ♪ come on to my house, my house♪ >> we've been calling the housing market a bright spot for a while, but recent news suggested could, repeat, could take another down turn and come could a double dip be coming? more analysis coming up. fade the music out, please. and let's bring in tres knippa. here is what is worrying me, when i see a hacking group in the new york times, twice, that is a worry and you? he can't hear me can he? i know he can't hear me. all right, well, we'll move on.

the opening bell is going to ring in 12 seconds. it will start to ring very soon. and now, we dropped 170 points on the dow yesterday. 170 down, straight down, almost all day long. what are we going to do today? this is all about syria and an attack we hear is imminent. and the price of oil is going up. so, what's the stock market going to do today? i tell you in the early going, right from the get-go we've got a down side move. this is not huge. 10 points lower after 170 point drop is not another falling out of bed, but it's not exactly a bounce now, is it? let's move on to some of the individual names. and world losers, what's going on with them. microsoft, yep, i do own some of the stock, took a hit yesterday. bank of america, jp morni.p. mo and b of a and j.p. morgan

do down. facebook, no bounceback, 29 cents, .8%, close to 40, but i'm not going to call it a huge bounce. move on to tesla, that's a bounce. an analyst writes that tesla is gaining market share in the california auto market and tesla this morning is at $170 per share. okay, that's how we've opened for the big names after the drop yesterday. i want to move on to exxon and chevron. they were up because the price of crude went up because of syria, so, lauren, come in and tell me, exon and chevron? >> well, the price of crude is still going up. it was through 110 a barrel. we're looking at 2011 levels here and you've got another win for two dow components. exxon up, 2/3 of 1% and chevron up nearly 1%, stuart. stuart: thanks indeed. lauren.

tres can now hear me, can't you? >> yes, i am, stuart. stuart: look it, here is what worried me about the news yesterday. a syrian group has hacked into the new york times website and it hacked into twitter. that makes me very concerned about the security of the lek tr electronic trading system behind you. >> hypbehind me is the pit. but one of my own social earthquake with networking account was hacked and received not only one, but two death threats after comments i made on your show. we live in a digital age and it's so much perseverance has to be taken for security on all measures, be it personal media, social media, be it my connection to my computer trading system. that's got to be priority one not just for the trading

stuart: you should get out of the futures trading system and get into gold bars and i can bair i it in the back yard and no amount of hacking would get it from me. >> you mentioned gold, it's in historic territory because gold futures have inverted on the yield curve. the front month is premium to the back. that doesn't happen. you need to pay attention to gold here. stuart: does that likely mean that gold is going up from here or what's it mean? >> well, what i think it means is that the available stocks to deliver against the futures contracts, i think the leverage that the comex has is something in the neighborhood. 1/56 of the gold of the total contracts outstanding. if you had two big traders who took a bunch of delivery of gold and suddenly you take a lot of gold out of storage and you could certainly see prices run up. you need to be aware of it you shouldn't have an inverse carry on gold.

it shouldn't happen. stuart: well, it does. thank you, tres. appreciate you being with us. so we dealt with oil, up. gold up, stocks flat, got it all. that's syria. and now i want to move on to the housing market. we've had a couple of analysts who say we could be in for another dip. however, brendan is with us, with the pair gone real-- paragon real estate and he says no more bubbles or crashes, but one thing i picked out of your talking points, your notes. >> sure. stuart: you think that mortgage rates could go back up to 10, 14% at some point in the future? >> no, i don't predict that, i tell you look at the big picture. my parents bought a house in the 80's and had a 14% interest rates. rates go up and down. and many of us have short-term memories. we know rates at 3, 4, 5%. rates will eventually go up and make housing less affordable. stuart: but that's a long, long, long way down the road, but we've seen an up tick in

mortgage rates from 3 1/2, 3 3/4, to 41/2, 5%. okay, now, doesn't that interfere with your prediction that we're not going to see another really another dip in housing? >> you know, a small rise in interest rates is not a huge amount of money in terms of monthly payments. having somebody who is serious about buying a home. they're going to buy it when it's the right time for them. stuart: you say buy it. >> if it makes sense to you now. low interest rates, may remind you you want to be in the housing market. don't rush into it. stuart: suppose you don't think of it as a place to live in, think of it as an investment. our viewers have a choice, invest in bonds, gold, or a single family home. are you saying it's a good investment, a single family home. >> if you're holding it for a long-term, absolutely. lock in a fixed rate, 30 year, if you're looking to flip it, you're going to get burned.

that's done by professionals. stuart: those are the people who have been investing at the moment recently. we've got hedge funds which have invested 18 billion dollars buying 100,000 single family homes. and that investment that's pushed up prices. if that investment goes away, that investment money goes away, prices come down. >> first of all, i don't think that the investors plan to flip the homes. i think they're putting renters in there. and all of the investors in southern california, phoenix and las vegas move sales. homes weren't moving so long and sales numbers were up. and i think what happened earlier this year, is that people sprinted out of the gates. and the housing numbers ran up and now, i think take a step back here and don't see a huge double dip. will there be dips and slips in the market? of course there will be. we're much more a-dd today.

it's so fast, think of the long haul. stuart: and it's sort of neurotic with the pace we're trying to keep here. thanks for being here. >> thanks for having me. stuart: let's check the big board. here is the reaction to steer yeah. we're down again on the big board and that would be the big board. and not much. now look at gold. it's now up 2 bucks, more, 1422 per ounce. stuart: as for oil, just shy of 110. and 3.54, get out and gas her up now and do it it's labor day weekend. that figure is going to go up. syr syria rumblings, not good. and let's bring in michelle.

i can't believe it's good news for an already weak economy. how bad is the news going to be? >> of course it's going to depend how everything plays out. you know, how long it lasts. we're seeing pressure on the stock market and i think that's the biggest way that you'd see an impact on the economy in the near-term. to the extent that you see the equity market under pressure, it puts pressure on confidence and some of the wealth gains that benefitted consumers and all of that starts to evaporate. if it's a short-lived couple of days or weeks, not an impact. if it's something drawn out and something that kind of then, you know, becomes an overwhelming focus and the market's under a good deal of pressure, then we could start to see. so, at this point, it's hard to figure out how big of an impact it will ultimately have on the economy. stuart: i'm going to throw one more thing at you which i'm reading as a big negative for the economy. the number of homes with at least one unemployed person in that home has gone up by 1/3

between 2005 and 2011. up by 1/3, a number of homes with one person unemployed. i see that as a big, big negative. and you? >> you're exactly right. i mean, obviously, that's reflecting and that time period is mostly a reflection on the high unemployment that we saw. and you made such a good point in the sense that one of the things that, we're kind of focused on and we look at overall consumer spending, maybe 2, 2 1/2%, know the that bad, not great, but not that bad. but if you're looking at what's driving spending, upper income earners that have benefitted from higher stock prices, they're driving the boat and the truth is, for the lower half of the income distribution, for them it still feels really poor and we still have comments from wal-mart and i think that's the issue. for lower income earners, times are still very, very tough e i just don't like the new normal. >> right. stuart: it just seems wrong to me. i want vigorous dynamic prosperous america and 4 or 5% growth and i don't see it.

>> this is not the good kind of new normal where you have kind of growth and low inflation, moderate growth. this is kind of the economy not performing as well as it could be and that's when you don't like the new normal. stuart: it's not as good as it could be. the measured america the way it ought to be. thank you. >> thanks, stuart, take care. stuart: we're up 11 points hardly a bounceback rally, but 11 points. stuart: you want to get a loan? be careful what you put on facebook. yes, facebook is used for your credit rating. we'll deal with it next. ♪ (announcer) at scottrade, our clients trade and invest

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>> sound the trumpets. we're back to 14,800 ♪ . yes, that was fast. look at the price of gold, no trumpets required for this. 1420, down 20 cents. the price of oil, ouch, 110 per barrel. a couple of names you know. higher costs cutting into the profits of companies that makes jack daniels. and brown foreman, down. and now, another factor that some companies are using to determine whether to lend your money. what's that factor? facebook, if your friends don't pay their bills, it could reflect negatively upon you. paul oster, credit repairman. when i go to get a loan or an insurance product or whatever, you mean to tell me they're going to look at my facebook account if i had one and find

out who i communicate with? >> absolutely, where you check in. where key strokes you've typed out there, anything you've ever put on facebook will be aggregated, the data, compiled, filters used by banks and insurance companies to determine what your credit worthiness is. stuart: what do you mean key strokes, if i type in the word bankruptcy. >> and debt, you're in trouble. >> really? if you're asking to borrow money, that could be predictive. so the predictive models have been built and show the correlation between certain things. stuart: hold on a second, if i shop at a certain store, eat at a certain restaurant and type in key words on facebook, that predicts whether i'm a good credit risk or not and reflects my credit score and whether i get a loan? >> whether you've used correct capitalization, you're filling out the application on-line can be used either for or against

you. >> you're kidding. >> i wish i was. >> grammatically correct is the way to go. don't have deadbeat friends. >> i'd have my brother fill out the application. stuart: you're a credit repairman. >> yes. stuart: first question, are you telling me it's legal? >> it's legal as long as they disclose they've been using the data. the fair credit reporting act says they must disclose it. the problem is, everything is so new in the data world, the changes overnight. so a lot of companies have not been disclosing that they're using the predictive models. it's been happening since 2010, so this is not a new thing, but it's brought in the public light. stuart: okay so i come to you and i say, look, paul, i'm having double getting a loan here, what can you do for me? what would you do for me? >> i'd get you good friends on facebook. stuart: that's required? you tell me to drop the dead beats? >> i might, i might. so it's not you -- if you're an 800 credit score, they might not go to that tier.

if you have less than perfect credit they want to know additional information. these data companies can provide a bank or an insurance company with 8,000 data points and fillers that go along with that. fico, the most widely used scoring model and score, uses 12 score cards and a handful of data. highly predictive, but what would you rather use, 8,000 data points or 12 or 20? >> good lord. and it's accurate? 8,000 data points, and it really does say whether i'm a deadbeat or not? >> exactly. well, it's going to decrease-- mitigate the risk for the lender and/or the insurance company. stuart: it's fascinating, the power of social media. please, paul, i'm out of time and i want you to come back, but i think it's the story of the week. >> it's going to continue to unfold. it hit the wire that this is going to be done and it's going to be mainstream that these massive computing power companies are going to provide

this information. stuart: fascinating. paul, thank you. get your brother on board. paul oster, come back indeed. syria should we intervene or stay on the sidelines. what should we do? my take on that is next. ♪

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ooh >> we keep a close eye on retailers. we want to find out if you're spending like you used to. another one for you. more customers coming into this store means more profits for express, and the stock is up 10%. nice. look at this, look at this. nfl lend jerry rice is here and even i know who he is. nfl, big business, billions, question, did he miss out on the big pay day? he retired years ago. we'll talk to the website that sets women up with wealthy men. why are so many teachers signing up. and michelle obama's lunch

program, kids don't like the food. tell a kid what to eat and he won't eat it, psychology 101. dr. keith ablow will be here. what a mess, there is revulsion at the use of poison gas, but not much support for military attack and who knows what happens after the cruise missiles are unleashed. it's a mess of the president's own making and a mess the arab world has brought upon itself. here is i moo -- my take on syria. president obama is blocked into the corner. and he could have taken action when assad started butchering his own people. and he set down the red line with the first nerve gas attack and now with the video showing the bodies stacked up and iran watching what we're going to do his policy has clearly failed. he's been pushed reluctantly to take military action. that's one side of the argument, the side that says he

must do it. now the other side which says don't do it. lt. colonel ralph peters is a leading voice in that camp and says that america has no strategic interest in a syrian intervention. it will open the door to an islamist government in damascus and bring us nothing in return. public opinion leans towards staying out of middle east entanglements entirely and some say what is wrong with our enemies killing each other? stay out. two sides of the argument, do it, you've got to punish a gas attack, versus, don't do it, stay out. i think there are two reasons why we should attack. number one, iran. if america does nothing after the worst gas attack in a hundred years, there will be nothing left of our already shredded credibility. the iranians will take inaction as another green light to go for a nuke. second, we just can't have this. we can't let the gassing of children go unpunished.

i say, go do it. target the military, target the chemical weapons, if you can, do it. we have the power, use it. and put a marker on the board for america's moral authority. ♪ [ cows moo ] [ sizzling ] more rain... [ thunder rumbles ] ♪ [ male announcer ] when the world moves... futures move first. learn futures from experienced pros with dedicated chats and daily live webinars. and trade with papermoney to test-drive the market. ♪ all on thinkorswim. from td ameritrade. all on thinkorswim. help the gulf when we made recover and learn the gulf, bp from what happened so we could be a better, safer energy company. i can tell you - safety is at the heart of everything we do. we've added cutting-edge technology,

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and this park is the inside of your body. see, the special psyllium fir in metamucil actually gels to trap some carbs to help maintain healthy blood sugar levels. metamucil. 3 amazing benefits in 1 super fiber. >> wednesday, august 20, syria dominates the news and the markets. we're covering that and more. the nation, the world divided on what america should do.

moments from now, offering his opinion. it will not be what you expect from a military guy. you're money is at risk because of syria. fill up now because gas prices are set to go straight up. that is not all making news. michelle obama not pleased, kids are not eating a recommended school lunch. the greatest wide receiver of the mall, jerry rice, appears here today. what is this about 40,000 teachers looking for a sugar daddy because of low pay? we really do cover it all. ♪ stuart: all right, i have a number for you and it may affect trading. pending home sales actually down, charles, down just over 1% month to month. year on year up 6.7%.

i see no impact on stock prices yet, still up about 20 points after the loss yesterday. pending home sales is not a really important number, is it? charles: it is sort of a backward looking number. the next couple of months will be really critical. stuart: we have had people on the show so maybe a double dip hit for recovery. a 1% drop is not that good news. pending home sales were down. check the big board, we are still up 22 points. i want to get the story, i want to get right at it here. i want an opinion from the esteemed charles payne. should we attack syria or not? charles: i think we have no choice based on the rhetoric iterated about the line in the sand. people should know the president has already changed its policy three times. if you move or use chemical weapons, it will have consequences. and we said if you use it it

will have consequences. and if he systematically use it, if you continue to use it. we have drawn the line in the sand and erased it several times. from a credibility factor, it is a no-win situation. this is a tough one. stuart: you say we are going to do it because we have to do it because we're in a corner. thank you. let's bring in retired military man air force general joins us now. it is good to have you on the program on a day like this. i have been reading your notes, you do not approve of an air war. am i right in saying that? >> yes, you are. the question, who are we supporting, what are our objectives. what is our exit strategy and where should we support them. i don't think we have answered those questions.

stuart: are you saying therefore don't take military action of any kind now? >> until the answer those questions, yes. now, you had a very compelling morality case in your previous segment. one could not argue that. this is not an air campaign on d what they will do. they've already decided it is going to happen, it doesn't matter the debate you and i are having right now. they are going to throw in between 100-200 cruise missiles, but i would have liked to ask the following four questions. so that the american people and the congress, bring the congress in so we know why we are doing this. stuart: let's proceed forward and figure out what happens when the 100 or 200 cruise missiles go in. i agree with you that is likely to happen, that is what the leaks are telling us. what happens when we fire off

the missiles? >> nothing. that is it. you may have a little battle damage, you may have some things, but that will not change the calculus in the battlefield, they specifically had said it is not a regime change issue that they are after, so they have told asad don't worry, we are not try to change the regime. after two years ago said he must go. so it confuses the issue. stuart: senator mccain, i saw him this morning. is saying yes, conduct an air war, destroy the air power, and get weapons to the rebels overthrow asad. you completely disagree with that? >> i am not against it, but i would like him to answer those questions, who are we supporting?

i believe general interest is not the one we should be supporting, it is another kernel in turkey right now. he lost his leg. i believe they are the group of the free syrian army we ought to support. if we support them, i would go along with neutralizing those six airfields and supplying him free syrian army with weapons and they can in fact take asad down. stuart: what do you say to the argument, and i have heard this a lot especially in private conversations, what is wrong with our enemies killing each other by the thousands? >> nothing. let them do it. stuart: now address what i talk about, the moral argument. i am saying he had to do something because he cannot let the use of poison gas just go by

without punishment, the worse poison gas attack since the first world war. you have to do something, you can't just let go. what you say to that? >> i agree with you, but i would want to put it in support of supporting the right people, the right rebellious groups over there, not the wrong ones because the last thing we want to do is have it happened in egypt and in libya, the radical islamist get in versus the more secular groups that are fighting this war. stuart: may i ask one more technical question? i'm told if you want to destroy the nerve gas weapons you have to have a special kind of mom that operates at exceptionally high temperature. you don't want to just disburse a guess, you want to destroy it. do we had that kind of weapon? >> we do not have that weapon unless it is a black weapon. it would be difficult to build, that is why you see they will

not pack the munition weapon sites. stuart: we thank you for setting us straight on a lot of these issues. it is, i think, a mess. thank you so much, sir, come and see us real soon, please. let's get to the market, and to lauren first. tiffany up yesterday, down today, why? lauren: historic high yesterday, down 3% today. citigroup is cutting tiffany to a neutral and this is why. there's no problem with their high-end, luxury customer, all although things are selling well but it is the lower price point which is about a quarter of the sales which is struggling. they say we believe holiday sales are reliant on sales in the 300-$500 category. so they are looking for the holidays and wondering if the shopper is going to buy the

cheaper items. $300-$500 items. stuart: it is all relative, that is what it is. put up the doll again, because we're buffing around the $14,800 level. basically it looks to me, charles, like the market is waiting for action on syria. after yesterday's big drop waiting for it to happen. charles: i kind of think the market is waiting for it to happen. a pullback was long overdue. something we thought would happen months ago. it was relatively small considering how far we have come. it is bracing for a weight mode because syria is one thing, no long-term consequences unless it spills over, the bigger war is in d.c., continuing resolution, the economic numbers, giving a

yellow flag is not a red flag. stuart: have another sign of the economic policies are not working. according to the u.s. census and the data from them the number of homes with at least one unemployed parent is up 33%, up by one third from 2005-2011. i say that is another disaster for household income. charles: you take a look at the states on this list that rank the highest with the most dramatic moves, 50% change all extraordinarily high tax rates among the highest, hawaii, they all have the same things in common, i have a welfare centered mentality, spread the wealth mentality, hurt business mentality. look at what is happening. these are the same people who keep on voting in the same policies ripping families apart.

stuart: new jersey, california, nevada, hawaii and connecticut would show the largest number of homes where somebody has lost their jobs. charles: in how i went up 5%. others up 60%. these are states where you cannot create a job in a state for the household to tax burden 12%, it is 11%. you can't create economic opportunity. these are welfare states at the end what they think might be helping people dividing families and creating disaster and less opportunity. stuart: that is the big picture. one stock he told us you like, the family of an 18-year-old who died after being shot by a police taser is suing the city of miami beach. they have faced lawsuits before, here's another one.

the stock is down this morning, do you like it still? charles: they're going to say the police department billions of dollars. stuart: not o if they're going o face lawsuits. charles: you want a lawsuit, kill somebody with a gun. they're more likely to die from a gun than a taser. the numbers, to give police officers tasers and they give you those instead of a gun in a lot of instances, you will dramatically decrease how much money they pay out in the lawsuits. stuart: yo do you think any payt they had to make that it's already factored into the stock? charles: a lot of them go to the lawsuits. it is not the weapon, probably more against the police department. the police department spent an average $2 billion per year on this kind of stuff, this is from guns.

they will save police department's a lot of money, it will save a lot of police officers their career, it will put a lot of things in a buzz between the camera's and the tasers it will help them be better and save the money. by the way, think it is down on the news. stuart: what is this about mcdonald's has a new product? lauren: it does, you can buy them nationwide september 24 for some markets as early as september 9 through november. mcdonald's up 1.3% now contributing positive doll points to the dow industrials and the number three performer in that index as well so this is competition for the share of our stomach. you saw the burger from the pretzel taken cheeseburger from wendy's, french fry burger from burger king and now the mighty wings from mcdonald's. you have to get all messy.

stuart: thank you. michelle obama's push for healthy school lunches. it falls flat in some districts. another example telling kids to do one thing, they will do the exact opposite. coming up, dr. keith at low. the boys used double miles from their capital one venture card

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available as an oral rinse, toothpaste, spray or gel, biotene can provide soothing relief, and it helps keep your mouth healthy, too. remember, while your medication is doing you good, a dry mouth isn't. biotene -- for people who suffer from dry mouth. stuart: look at facebook up today after taking a hit yesterday right at $40 per share. apple has been down, but it is up a little bit today. not much, 490 on average. here is charles, going to make us some money with the murphy oil corporation. that is an easy call. charles: i know, i know, sometimes you go for the low hanging fruit. exploration and production has been absolutely phenomenal. they already sold the uk unit,

it will be a peer exploration play. when that happens, the stock will take off. love to sit insiders buying. right now from all of the technicians, held pretty well at 65, you go back and retest 72. look at the charts every now and then. we should ask them on facebook. stuart: let's do it, go to it. look at the chart. i am dying to find out. after one year, michelle obama's federal school lunch program is being dropped from some schools in the country. the kids are not eating the schools a mafood. dr. keith ablow joins us now. you cannot command that kids eat

their sprouts, and if you do, they won't eat it, that is psychology 101, shirley. >> that is exactly right. when people cannot make their own decisions about how to try and incorporate these items in local districts, in states, so you cannot administrate to say eat your veggies, to not work in her house, will not work in the schools. stuart: i would say the government cannot and should not try to take responsibility for your health and your diet. i don't think that is a function of government. >> exactly. the schools are not the places to insist on these things, let the local concerns do this. this is a mayor bloomberg of new york don't drink big sodas, i will make them illegal move. the obama administration people who operate like that think they know what you should eat, the way you should behave, the

causes you should support and if you support the wrong ones they will come after you. individual autonomy is what is required to have a good diet, you can't force-feed people ideas or food, you have to empower them as individuals to care about themselves, then they make choices in their own self-interest. stuart: would you describe yourself as a libertarian? >> yes. i believe the key to our nation moving forward is the same key as to my patients moving forward. i don't call them every day to say eat this, don't drink that. i say you have to be restored to the best person you can possibly be to understand you have a role in life to play, you have to own that, that is yours. once you do that, you are good, everything can proceed in a much better fashion if people say i care about me.

stuart: i think you and i are like this at this point in time. this is a wonderful thing. i have one more for you, it is about facebook, your favorite subject. i have a school district that is going to spend $40,000 monitoring what the kids in the school district do on facebook. how do you feel about that? >> would we please just remember the kids cannot even read or write, these teachers who want tenure and to be protected lack creativity and lack the ability to get our kids where they need to be in terms of skill level and enthusiasm. we should not even have education in schools. what the heck is going on with that.

why do we have courses teaching kids with the parents would teach them normally. this at the place of the government to do the things we will create generations of slaves, that is what we will create. they are looking at gps for everything in their lives. stuart: you have an absolutely excellent in every point you have made tonight except for one. you have been grammatically incorrect. you do not add right, you add correctly. it creates an adverb to qualify it. >> i meant to add according to republican principles, hence right politically. stuart: you are clever. turns on a dime and recovers. not bad, doctor. >> thank you. stuart: exactly 14,800. give or take three quarters of a

point. a dating websites to find women sugar daddies. and men are willing to spend thousands of dollars per month on their companionship. what kind of companionship is that? turns out female teachers are signing up in droves. another big story for you, the ceo of the website is next. ♪

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stuart: let's wrap up the market for you. an imminent attack which we hear is indeed imminent. not much after the big loss yesterday. the big point is oil, way up today, $110 per barrel. so get out and fill up the car with gas because the price of gas probably going up a lot this labor day weekend. dating sites seeking arrangement.com claims schoolteachers have joined the site looking for a sugar daddy because their pay is so low. seeking arrangement.com is a dating site that books wealthy men with women looking for wealthy men. of the ceo of that website with us now.

he is joining us from las vegas. i have to tell you, sounds an awful lot like procurement. wealthy guys on the site and the women sign up. we hear the wealthy guys are prepared to pay a couple thousand dollars. is that accurate? >> these wealthy guys are simply generous. i wealthy guy who is willing to spoil or pamper whoever the person is dating. stuart: they are prepared to spend a couple thousand dollars on the young women they attract via your website. that sounds like precure meant to me. >> financial exchange happens with relationships so buying a gift for somebody taking them out for dinner and paying for that is a way of charming and romancing within that relationship. that certainly isn't precure meant in my opinion.

stuart: you have to be pretty defensive about this. >> i am defensive about it because there are stereotypes of what a sugar daddy is, but it really is not. you are mentioning why do we issue studies like this show and so may our website. first of all it is to show that sugar dating is very much pop culture. a lot of people doing it including schoolteachers, but the second reason is to point out there are issues which lead a lot of young women to join the website and the main reason being they are underpaid. stuart: who pays? the young women pay to get on your website? do the rich guys pay to get on your website? >> yes. the men and women who join use it completely free. on seekingarrangement.com, the wealthy men pay roughly $60 per month to communicate with these

sugar babies. stuart: when you connect a sugar daddy with a sugar baby and a gift of money is exchanged, do you take a piece of that? >> no, we don't. they gift or the money exchanged between them is really between the two people. it could be an airline tickets to go on a trip somewhere, it could be a fancy dinner at a five-star restaurant. it is not really an actual exchange of money as some people might put it. stuart: you are in las vegas, do much of these get-togethers take place in las vegas? after all what happens in las vegas stays in las vegas. >> you are right. las vegas is one of the most active cities along with new york city and los angeles. the school district ranks number four in terms of the number of schoolteachers an signing up onr website.

we have over 2 million members worldwide. stuart: 2 million sugar babies? >> both sugar babies and a sugar daddies. for every sugar daddy there are about 10 women vying for his attention. roughly 200,000 sugar daddies. stuart: paying you $60 per month. >> when they meet somebody they date them for a while and if it does not work out, they come back to the website. charles: there's no way you can be verifying their standards. what if they hook up and the moment finds out the man is broke, does that come back to you? >> we have a stringent reporting in place. we're the first program that

offers background checks as well. they are background certified so we do background certification to make sure they are crime free. the sugar daddies are verified, we verify their wealth to make sure they have what they say they do. stuart: very interesting, sir. you were very nimble dancing around the precurement issue. comments see us again because that was interesting story. thank you very much indeed. >> thank you. stuart: numbers on the inventory, how much oil is in storage. went up 3 million barrels, that is a lot. a big billed as they say. but it has not had much of an impact on the price of crude oil reacting to the imminent attack in syria. so $109 per barrel even though we have the extra oil in storage. if it were any other time you would see the price of oil go straight down. but not today.

colombia journalism school say it is one of the best in the country. george soros with an agenda. what do the two have in common? find out in a moment.

stuart: sandra i smith is with .

you saw the numbers. oil in storage up 3 million barrels for the price of oil stays at a two-year high. it is all syria, isn't it? sandra: it is syria and premium being priced into oil right now. the wti contract, or benchmark in the united states almost $110 per barrel right now. brent crude with more interest in what is going on in syria is $115 per barrel, so the margin between them very narrow. everyone is on edge about this situation right now. almost like you're getting a feeling something is about to happen very soon, folks are looking at volume spiking in the various contracts with oil two gold whatever they are trading. the market is highly anticipating something is going to happen soon.

stuart: i said get out there and fill up the gas tank because the price of gas at the pump will go up this holiday season. am i wrong? >sandra: no, you're not wrong. there are reasons the gas prics could spike. the issues over in syria and a possible attack. but seasonably this is when gas prices go up, this is when people are filling up their gas tanks. labor day weekend just ahead, but remember seasonally they drop off after labor day weekend so if you have to go somewhere on saturday, fill up now or else prices tend to go down after the holiday weekend. keep that in mind as well. stuart: it will go up from $3.54 where it is right now. thank you very much, we will see you again tomorrow. billionaire george soros is funding the next generation of lefty journalist.

dan gainer joins us from the media research center. all right, what is george soros doing with the colombia school of journalism? >> a lot. back-to-school time, so it is only fair to point out to people the most influential journalism school in america is also the third highest funded by george soros of all of the schools he funds, he gives them $9.7 million since the year 2000. the head of the foundation was another george soros operated foundation which got millions from him. stuart: do they care about this? to get a reputation being biased to such a degree that you are taking money from the george soros of this world, that would seem to me to imply minor-league stain on the reputation, the intellectual and professional reputation of your school. doesn't he care?

>> absolutely not. you're talking about a school the journalism professor worked for left-wing publications, "the huffington post," the nation, the former head of the phd program. the head of the nation runs another part of their operation. they are so left-wing it is laughable. they don't see anything wrong with taking something from george soros. stuart: i am a conservative. that is what i believe in. if i went to the colombia journalism school would i get in? and how would i be treated if i actually went? any idea? >> i talked to some people, a lot of them don't want to go on record about this. you can probably get in if you

have good qualifications. you will be indoctrinated because this is a school that gave an award, gave the top honor to al jazeera. stuart: i did not know that. they gave their top honor to al jazeera? >> the only time they've given a top honor to an institution, they gave it to al jazeera. they have a fellowship through the school and one of the professors also is an al jazeera staffer. this is across the board left-wing operation. yes, you can get in, but surly be prepared to be told everything you believe is wrong and everything they believe is right. stuart: it is highly unlikely that i will apply. thank you very much for joining us again. i think it is important to point out this kind of thing. appreciate it. >> thank you very much, stuart.

stuart: he is the greatest nfl wide receiver of all time, jerry rice, and he will join us after the break because you never know what will happen when i talk football. do you remember this? >> i think of when her the super bowl this year will be the new york jets. am i on the ball or what? >> stuart, he absolutely know nothing about football. [laughter] stuart: okay, next one. the new york jets are a fine team, i know these things. all n and hearing everything from our marketing partners, the media and millions of fans on social media can be a challenge. that's why we partnered with hp to build the new nascar fan and media engagement center. hp's technology helps us turn millions of tweets, posts and stories into real-time business insights

that help nascar win with our fans. like carpools... polly wants to know if we can pick her up. yeah, we can make room. yeah. [ male announcer ] ...office space. yes, we're loving this communal seating. it's great. [ male announcer ] the best thing to share? a data plan. at&t mobile share for business. one bucket of data for everyone on the plan, unlimited talk and text on smart phones. now, everyone's in the spirit of sharing. hey, can i borrow your boat this weekend? no. [ male announcer ] share more. save more. at&t mobile share for business. ♪

stuart: pending home sales down 1.3% from june to july, second month of declines despite the drop the pending home sale gauge still up over 6% from a year ago. convicted insider trader living large in prison. the former hedge fund billionaire currently serving an 11 year's term has a private prison cell with a shared balcony even a manservant to coax him dinner. and the nation preparing to celebrate the 50th anniversary of martin luther king's "i have a dream" speech. crowds are forming in the national mall. president obama, clinton, carter, addressing the crowd later on today. nfl legend jerry rice coming up.

here is where i talk football with a legend. you can't miss something like that. [ male announcer ] sheets or bar? how do you get your bounce?

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accounting for a total of 33 positive style points and the dow is up by 35 points. stuart: and they lead, that is interesting. thank you so much. i want to get to this real fast. jerry rice the greatest wide receiver full-time. he now is going high-tech. teaming up with intech helping fantasy football players up their game. it is a real honor, sir. i will call you sir because jerry rice, you really are the greatest good welcome to "varney & company." >> thank you for having me. stuart: are you a little retired too early? if you still played today you would make some serious money, wouldn't you. football is king of the hill. >> i really worked real hard back in the day. the training regiment but in the time. if i was playing today, around

$25 million range. probably earning that per year. for my services it would cost them about $25 million. stuart: you were the greatest. i am an english man. i don't know beans about football. i have come to accept that, but i know your name, i know you are the greatest. i put it to you, the challenge for football in america, is not baseball, basketball or hockey. you know what is coming. the challenge for football israel football, soccer. >> soccer? what are you talking about. no way. even with fantasy football. look at this, 75% of fantasy football players want the real-time stats. $1.1 billion industry. over 20 million people around

30 million people play fantasy football. stuart: you are a genius. i was trying to get you off on a tangent, but you immediately got it back to fantasy football. tell us what you are doing with intel. >> fantasy football, intel's behind the technology that brings the real-time stats to the fans and it is powering the devices they used to play fantasy football. you look at football, the evolution of football, hd television, the sights and sounds, crystal-clear detail, and also you can watch the game in the convenience the of your home or you can go to starbucks and watch on your laptop computer. you can always have access to

scores for using smartphones and also tablets. that is footbalfantasy footballa different level. stuart: you deserve it. who is the second greatest player next to you in the nfl. >> i don't think of myself as being the best player to ever play the game. i had the opportunity to play a game i really love playing, i was able to bring excitement, to have little kids look up to me and say you are my role model and ask for my autograph and take my picture. i would say it was jim brown what he was able to accomplish on the football field. the guy was an awesome football player. stuart: who do you like for the super bowl? i know you used to play for the san francisco 49ers.

don't tell me the san francisco 49ers are going to win the super bowl. who is going to win birthmark >> o?spiegel of course i'm going to tell you san francisco's going to win the super bowl. they have an exceptional quarterback. a true playmaker right now in a receiver, but they still have davis, they have an exceptional defense but will not be easy for them. they will come out of the nfc, the team that will come out of the afc will be the denver broncos. stuart: last one. for $25 million, would you go back for one season, could you? >> $25 million, yes, i would. i can still play the game and i think i am better than some of those receivers. stuart: you are our kind of guy. i like that kind of stuff.

it was great stuff, a pleasure to have you with us. thank you, jerry rice. >> thank you for having me. stuart: elizabet elizabeth macd, the smartest reporter on the business on "redeye" last night. >> why hasn't the cost risen more than 500% since 1985? we will have people don't understand economics to their opinions and later i will explain why they are wrong. greg.

stuart: elizabeth macdonald is here. a town in california bans any new stores from selling these cigarettes. why? liz: when something becomes popular you don't want proliferation to occur. why not ban city councilman? they are still smoking in bed in california with the town going bankrupt. e cigarettes work, they get people off cigarettes. stuart: exactly. we had them on yesterday, they get people off real tobacco. they get the tar away from them and this town will ban new source from putting it out there? >> we will get a multi-settlement out of the

squander. stuart: now you were on "red eye" last night. he got some pretty positive comments on facebook. listen to this one. if intelligence makes a woman even more attractive, elizabeth is a supermodel. >liz: if dq was sexy, you would be people's man of the year already. stuart: you were andy leedy last night, you filled in and did that. you're going to again tonight? liz: i might, if they ask me to. i have been teased, they have teased me i was a virgin by popular demand. stuart: stop, stop, stop. liz: always delighted. stuart: more of this in a moment. [ male announcer ] imagine this cute blob is metamucil.

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stuart: last hour i gave you my take it we should intervene in syria. you had a lot to say about that. here are some of your comments. i believe our worst fears concerning american people for his electing an experienced and unprepared individual to be present. if the play out in the worst possible way. steve says in my humble opinion obama will succor us into the black hole because of his big mouth. on twitter tracy says obama does not have the experience needed to formulate any kind of military plan for syria, it will be a disaster either way. very interesting debate going on on the facebook page, please keep it going. my time is up, it is yours. connell: we will keep it going. the uk looking for a resolution which would allow the western military strike, so that is the very latest. the syrian electronic army already striking claim responsibility for taking down

"the new york times" website, this could be a big threat to business, cyber security. how dangerous it really is. and toyota flexing the hybrid muscle today on the shot around the automotive world. jeff flock will have a look at that and the high-stakes game of fantasy football. you are having your draft, many people this weekend, do not trust your gut. it is all about the numbers this hour on "markets now." ♪ connell: all right, welcome to "markets now," lot going on today. a lot going on today. for today, investors seem to be shrugging