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tv   Varney Company  FOX Business  October 8, 2013 9:20am-11:01am EDT

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♪ 'cause there'll be no sunlight if i lose you baby♪ ♪ there'll be no clear skies, if i lose you baby♪ ♪ just like the clouds are out, i will do the same♪ ♪ if you walk away, every day in the rain, rain, rain♪ ♪ imus in the morning ♪ >> all right. here is the into us of the day. stalema stalemate. debt, shutdown, debt crisis and you are mad as hell. good morning, everyone. this stalemate is reflected on wall street. stocks will open virtually flat today, stalemate.
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what we have for you, bill o'reilly, steve forbes, we have the 2015 escalade, it's parked outside and they're going to try to sell me one. we have the middle school that is banning tag at recess because of lawsuits? we've got a lawyer on that, too. and 58% of you do know the want to raise the debt ceiling. ha. "varney & company" is about to begin. we gave people a sticker and had them show us. we learned a lot of us have known someone who's lived well into their 90s. and that's a great thing. but even though we're living 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. ♪
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>> remember this commercial from citizen's against government waste? >> we remember it well. it looks like it might be coming true. china isn't laughing today. it holds our debt and flexing
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its muscle, giving a warningcone in order and do not default on your debt. now, that's a sentiment that is not echoed by you, the voters. a fox news poll released this morning finds that 58% would not vote to raise the debt ceiling. how about that? and investors are not listening to either side. stalemate equals a pretty flat market, slightly higher for wall street. that's the headline today, but there's a lot more we're talking about this morning. flu hysteria starting again and a doctor in glaxosmithkline is going to convince me to get a flu shot and i'm not, i have the numbers on my side. we're on it. the miracle hose how many of those have been sold? we have mr. as seen on tv right here, he makes people rich. the denver broncos, a 28-point
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favor against the jaguars, wider spread for a pro football game in football history. what do you want tonight, baseball or football? four baseball games, but the monday night football game went down to the last play as well. i bet the numbers show that football got the ratings. okay, next, we're watching your money of course, any movement on capitol hill? come on, we're not really going to default, are we? [ male announcer ] this is jowoods' first day of work. and his new boss told him two things -- cook what you love, and save your money. joe esn't know it yet, but he'll work his way up from busser to wter to chef before opening a restaurant specializing in fish and game om the great northwest. he'll stt investing early,
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♪ never can say goodbye, boy ♪ baby, i never can say goodbye♪ >> the lyrics to that song, never gonna say goodbye. got it. warnings from the bankers and warnings from china, but voters say don't raise the debt ceiling. congress isn't going to allow a default, really, is it? that's the theme of our program as we await the opening of the markets. here is larry levin from chicago. and let's let him weigh in on this one. 58% of voters would not raise the debt ceiling. larry, that's a pretty large majority to take one extreme
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action, isn yeah, i mean, i thi they're thinking from maybe a parent's viewpoint, i don't want to loan my kid more money. i need him to go to work and i think maybe the same situation, the only problem is, we've got to raise that debt ceiling because we've got to pay our debt and we can't allow our country to get downgraded more than it is. and that's a big issue and i think the market's going to take it as a big issue. and it's a game of chicken right now, stuart and chicken doesn't end until we get to the end and one guy peels off. we'll see what happens. it's certainly not good right now. >> so far it's kind of a yawn from a lot of voters and kind of a yawn on wall street this morning. i'm looking at the beginning of trading now, we're down what, 11, 12 points, 14,900 is where we are now. a couple more people i want to bring into the story. here is liz macdonald and david
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kotok joining us. 58% of those polled by fox news do not want us to raise the debt ceiling. liz, you first liz: interesting thing in the poll, democrats 48-42 say we want spending cuts if you do, if you raise the debt ceiling. and i tell you, something exactly what s&p around about when it downgraded the u.s. debt. it says you have to do deficit reform. right? when the u.s. downgraded from triple-a, s&p said the risks to the credit rating is due to washington fights about debt reform and now we have democrats in this new poll saying, yes, they do want spending cuts, if the debt ceiling is raised. stuart: that's fascinating. david kotok, i want to bring you in, too, here. 58% say, no, don't raise the debt ceiling. that's a big shrug of the shoulders, isn't it? >> well, it's a big shrug of the shoulders. ask if they want food inspection on chickens so you
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don't get salmonella, yes, we want that and we want the feds and the national guard, we want flood, we want emergency services. the list is long. so if you --. stuart: hold on a second, do you really think that we'll go beyond the deadline? do you really think that we're-- >> oh, yeah. stuart: s pa the october 17th deadline with no deal and even technically in default, really think so? >> if default is the payment of interest and principal on the debt of the united states that will not fail on october 17th. on november 1st you've got a $67 billion payment out of the social security trust fund and on november 15th, you've got a big payment on u.s. debt. those are the real confrontations. october 17th is a moving date. we don't know for sure when the government runs out of cash and we don't know what jack lew has up his sleeve liz: this is no way to run a
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railroad. it depends what the ratings agencies do, stuart. if they call interest patients what's called selected default and if the ratings agencies move on selected default and only paying interest payment and that's bad. right now, we have a market that's trying to escape from d.c.'s actions. and we have the feds unlimited rewards program to stock investors. that's where we're at right now. stuart: okay, where we are right now-- >> i agree with that. stuart: go on, david. >> i agree with that, but the fact is that we also have rising vix, rising credit default stocks and falling stocks, we're headed on a collision course in terms of markets. that's going to shake the tree enough. >> look where we are right now. check the big board. this is what, tuesday morning, the second week of the shutdown, nine days away from a potential debt ceiling breach and we're down 16 of points, that's what we've got. let me move back to some other key issues on the stock market. i'll get back to david and liz
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in a second. first of all, j.c. penney, you know, i think we would have been justified putting them on death watch earlier this year, but the stock is up this morning. come on in, lauren simonetti, tell me about j.c. penney. >> the stock opened to the upside and now by 2 1/2%. there's two pieces of news. the first piece came around 5:30 this morning, downgrading j.c. penney and they don't see the positive upside to the stock and the turn around. they downgraded them to neutral and have the price target. that's pretty bad. two hours after that, we saw j.c. penney give us the store sales and showed a big improvement over the month of august so that's the positive news. j.c. penney is doing well comparatively in fine jewelry and women's apparel. that's the largest part of their business. now, it's only up 2 1/2% right now because the sentiment because of the liquidity concerns on the floor. and people i hear about it, it's bearish, stuart.
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stuart: if we would have put it on death watch, however, we didn't. quick for you. >> yes. stuart: we're following the three big names we follow frequently on this many pra. apple closing in on $500 a share and the stock is down 9% this year, 488 this morning. roughly flat. and facebook is up and holding above 50 this tuesday morning. netflix well above 300. and right now at 320 in a flat to downside market. i've got a headline for you, tesla's model s overtakes the volkswagen gulf and norway's best selling car. i don't know why on earth i care about that. there's 5 million incredibly rich norwegians and they apparently like tesla. >> there are only 5 million people in norway, but they're paying a premium to buy the tesla model s, it went on sale
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in august and don't want to wait five months to get a new one. and jeffries had huge comments yesterday about tesla. bullish on the stock and it's up five-fold in 2013. stuart: i can't believe the fact that the norwegians prefer the tesla to the gulf. duly noted. 14,912 is where we are. i've got to tell you what's coming up at 10:00. a big show today. bill o'reilly is going to talk about his new book, "killing jesus" a historical look at the life of jesus, next hour. and we've said that the shutdown is about maximum pain, making the republicans look bad. and now the debt deadline as well is maximum pain. the social security administration warn that benefits could get cut. liz, what do you make of that? >> and this is the white house
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warning this and now scaring senior citizens. unless they want a dan rosscowski was chased through a parking lot, senior citizens chased him when he threatened to basically raise taxes on them to pay for their medicare and they said impeach him. they called him coward at that time. if they ripped social security benefits this is what politicians will see coming right out of the senior citizens. stuart: and i remember him. got it. david kotok come back in, please. we've had a week's worth of government shutdown and we have a fight over the debt ceiling. has there been any damage to the economy already? >> little bit so far, but we don't have complete data because the government agencies aren't getting-- they're not open for business so we're not getting information. we're getting information from private sources. that picture's deteriorating
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every single day when we get an anecdote and we have yet to see a real impact which i believe we will see when we start to see retail sales contracting. all the kinds of stuff that the private sector will report over the next few weeks. stuart: okay. let's not forget that the bankers are warning about disruptions in the market and disruptions for the economy. china is warning that's about the debt ceiling. your position, david, is that if we do indeed go past that october 17th debt ceiling deadline, that it really is serious stuff and we really are in trouble. that's your position? >> i think we're in serious trouble now because we have dysfunctional government. that's been developing for a while. we get past the 17th, there is then the prioritization issue and how much cash there is. the big one is november 1st, 67 billion out of the social security trust fund for the big payment. the payments in between are staggered and smaller and then there's the debt payment on the
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15th of november. and so, we're really coming to loggerheads and there's a view in the house that we can take the debt limit, freeze it, crunch is down, crunch the deficit by 700 billion at once, 4, 5% of gdp, and pay the price and stabilize the government. now, i don't agree with that. i think there's a terrible price to be paid for that, but there's a growing view that we can do that. and that's the politics of our country, stuart. stuart: standoff stalemate. here we go. david kotoks, thank you very much indeed. now we're down 47 points. we expected it to be flat to slightly lower, we're below 14,900. as for the price of oil, up a little bit. 75 cents higher, back to 103. and then we have cadillac, it's already unveiled its 2015 escalade, we're talking serious luxury here, big price, too. yeah, you need big money to buy one of these things and someone
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from cadillac is here. they're going to try to sell me one of those, the 2015 escalade. you can see it first time on television and they're going to try to convince me to buy, trade away my chrysler minivan, incredible, but they're going to try next. ♪ clients are always learning more to make their money do more. (ann) to help me plan my next move, i take scottrade's free, in-branch seminars... plus, their live webinars. i use daily market commentary to improve my strategy. and my local scottrade office guides my learning every step of the way. because they know i don't trade like everybody. i trade like me. i'm with scottrade.
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>> ladies and gentlemen, let me introduce to you, mr. craig byely, he's cadillac advertising director. he's going to sell me one of these things behind me here, the 2015 escalade. craig, welcome to the program. >> thanks, glad to be here.
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stuart: why are you showing me a 2015? >> we unveiled is last night. stuart: are you going to tell me the price if you're going to sell it. a rough estimate. >> the current vehicle a 63,000. stuart: wait, wait, starts at 63. up to. >> 90,000. stuart: who is your target audience? >> younger professionals with high incomes. stuart: top 1%. it's a 1% vehicle? >> a couple of percent, yeah. stuart: shall i tell the median income of buyers. >> you can do that. stuart: median income of buyers of cadillac escalade $259,000 for people a year. >> the youngest most affluent buyers. stuart: the chevy 35,000 a
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year. and craig, it's now your solemn duty to open that door and get the cameras around and show me inside and sell it to me, go. >> a lot of the story of the vehicle is inside the vehicle. where we spend a lot of time and effort and attention to detail, really premium craftsmanship. stuart: all right. >> live cut and sew stitching. use of real wood. we put the cadillac user interface system, the q system in this vehicle. stuart: what's that? >> it's basically like an ipad in the dash. stuart: okay. >> okay, so, it uses all the controls you're familiar with to control all of the navigation and the functions in the vehicle. stuart: what's so good about the 2015 compared to the 2014? >> it's quieter, it's more luxurious, it's more premium crafted, and the third row seat has power forward a big deal for us. stuart: power hold fold?
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>> power fold on the seat. how much does it fit? >> seven people. stuart: that would fit my kids. six kids, seven grand children. do you think i'm going to abandon my van for 90,000 escalade. >> it hasn't started at 90,000. we haven't announced on the new one. the van is different for different people. this is a premium luxury suv. >> you only sold over a thousand. >> a pretty good september of this year. year over year, our business is flat. we sold about 22,600 last year. clearly weepi think we'll sell more of this one. stuart: okay, i'll take a rain check on an actual purchase, but craig, thank you very much indeed. it's a fine vehicle and i think the first time on tv. isn't it? >> yes. stuart: coming into "varney & company," we appreciate it.
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the gold report, not much changed for the price of gold. 1325 per ounce. we shall be back.
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>> if you dare to issue a disappointing outlook, watch out 'cause your stock will take a hit.
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that's what jamba juice did. they said the outlook is not favorable, disappointing, down it goes 20%. bill o'reilly is the host of the highest rated cable news program and now the author of the top selling book in america, he's going to join us next hour talking about killing jesus. plus, the flu shot this year, supposed to protect you from four strains of the virus. i'm not getting one, but someone from the company who makes that stuff will try to be here to convince me to do it. you're a healthy young 10-year-old. you run out of the school classroom eager to let off steam during recess, but you're not allowed to, you might get injured. here is my take on the pernicious influence of lawyers. i give you the example of the webber middle school in port washington, long island, new york. it's just banned football, hard soccer balls, lacrosse balls,
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baseballs and rough games and yet, cartwheels banned. don't laugh. this is real. the superintendent says schoolyard injuries are potentially very serious, and students must be protected. nonsense. this school and countless others is caving to the threat of lawsuits. johnnie gets a scrape on school property, horror, it might be concussion. sue. the lawyer takes 30% of the take. the parents turn the scrape into a financial reward. the school's insurance premium goes through the roof so all risk is banned, pathetic. this is indeed the pernicious influence of lawyers, but it's not limited to stopping kids play, oh, no. why do you think medical treatment costs so much in america? lawyers. why is fraud so rampant in the disability industry? lawyers gaming the system. why can't you give an honest appraisal of employee performance, lawyers, lawsuits,
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and the contingency fee. given that lawyers contribute heavily to democrats and president obama, do not expect any change anytime soon. it's very fortunate that that middle school, i mean, it's very unfortunate that that middle school that banned recess games is typical of all of those institutions that must always eliminate any and all risk. we don't have the rule of law, we have the rule of lawyers. opportunities aren't always obvious. sometimes they just drop in. cme group can help you navigate risks and capture opportunities. we enable you to reach global markets and drive forward with broader possibilities. cme group: how the world advances.
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lincoln, a glimmer of light but the faintest of glimmers. that is the news october 8th. nook what we have for you. bill o'reilly, the most successful author of the day. mark lanier, big-time lawyer, lawyers are our lord and master is these days. glaxo's flu shot guy. can he persuade me to get when even if it is free? as seen on tv.com, the place to buy those in commercial products, they sold four million of those interco'ss, not bad. an australian who says america is the greatest country. that is a real financial program. kept the big board, the stalemate means a flat rate.
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we are down to 7 points. nvestors think we will get a will get a deal. we are up a couple hundred points. down to the downside of you people nibble here and there. connell: they are ignoring the threats. charles: there is no panic in the market but buyers are saying we will sit on our hands but if we think the train is leaving the station some sanity into d.c. we will jump in. stuart: at the top of the hour i mentioned a glimmer of hope. president's gunz jeffrey zients -- economic and by the gene sperling says the white house is open to a short-term debt limit. rich edson, is there in ft a light at the end of the tunnel? >> it is when we get to the
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point where it is october 16th and there is no congressional action the president may be open to extending a clean debt ceiling but we could figure out even if it is was to extend negotiations for a few days, negotiation the president says he won't have that it is something they would be open to sell a little glimmer of hope. it is something. stuart: you totally shut out that wife. hold on to it. rich edson, telling it like it is. who do you blame for the shutdown? according to the latest pupil you blame the republicans more than the president. steve forbes is here. why isn't the president taking more heat in this? >> when you have 435 members of congress it is mm-hmm unified voice rather than one in the white house. the republicans participate in
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the powerful birdied funding. they let off there vocabulary. connell: that gap the pr battle is turning a little bit. >> you can count on the democrats to overplay their hand and the symbol of it was shutting down world war ii memorial in washington d.c. which has no one there any way so they spent $100,000 to bring in guards, set offenses and state parks around the country and people wondering this is political theater and destructive political theater so the white house has taken a hit which is ultimately why the president said he won't negotiate he will. stuart: john boehner is approaching the podium. >> it is an untenable position and by refusing to negotiate,
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harry reid and the president are putting our country on a pretty dangerous path. there has never been a president in history that did not negotiate over the debt limit, never. not once. as a matter of fact president obama negotiated with me over the debt limit in 2011 and also negotiated with the blue dog democrats to raise the debt ceiling in 2010. the way to resolve this is to sit down and have a conversation to resolve our differencess. >> good morning. stuart: the leadership made that statement, refusing to negotiate, talking about the president, that is an untenable position. negotiated in 2011 over the debt limit. john boehner is pushing for the now. before john boehner started to speak the dow was down 18, the
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dow is now down 21. i call that zero movement after this no negotiation stalemate continues. does anybody doubt that at the end of the day probably at midnight on october 16th or october 17th we will get a debt ceiling deal? >> if you don't you get an extension and this underscore is the president is missing key meetings in asia where we have serious trade negotiations, he should have asked for that extension a couple weeks ago, gone over and came back as the statement coming back on the domestic state. stuart: that is the likely outcome? an extension? we won't hit the deadline october 17th but did not until december? >> they may do it for a week or two and combine. the continuing resolution and the debt ceiling, mix it together and come of with the
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deal. stuart: at the end of the day do you think we are going to see spending cut? >> the sequester did cut spending two years in a row. republicans don't give that, short-term government finances are not as bad as they were. ultimately -- charles: this is a possible -- for all the high jinks and anxiety we are going through do you think the deal won't look continuously? higher debt ceiling, continued sequestration and obamacare lives? can you imagine any deal other than that? >> republicans should have led with a more positive foot, go for one each round of cooking. if you are a member of congress the to the exchange without subsidies like everyone else. and postpone the individual mandate. republicans are saying is getting a big business why isn't it good enough for the american people. charles: populations are -- >> the other thing they can get out of this is getting rid of it
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tax on medical devices. even democrats want that. stuart: those would be small incremental changes, almost face-saving changes. >> a tax is a tax and putting of the individual mandate -- charles: do you think that would be highly unlikely? putting off the individual mandate for a year? >> where you go for public opinion. it is good enough for big business why isn't it for the american people and let the president say i want to let him defend. stuart: you got to see the polls shift where polls are saying -- >> the republicans got to keep hammering that instead of saying he should negotiate with us, we think the american people deserve the same treatment as big business. stuart: there is a whole line of republicans speaking, let's go to eric cantor and down the line all of them saying negotiate, negotiate, negotiate. this is a serious issue, you got to do it.
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do you approve of what the republicans are saying? >> negotiate and add on right away saying the american people should be treated the same as big business. stuart: sounds like a winner to me. charles: i don't know why they didn't come up with that first. they blew it big time, that was the right message from day one. some say john boehner blinked to the tea party. stuart: before john boehner started talk the dollar is down 18. there has been a series of republicans in front of the same podium, still there, saying negotiate, america wants a fair deal when the dow is down 14 points. kelly r. strong position from the republicans did not produce a market sell. >> the president should remember when he negotiates with iran. stuart: now you bring something else into the knicks. i said the word of the day is stalemate. i say stalemate, thanks very much. take a look at the share price
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of the medical retailer, what is with this? >> this is a winner today, it is up 4-1/3% and they are in advanced talks. to buy german company for $5 billion. the reason they're looking into this, care market and others are fighting against walgreen's to keep expanding and making acquisitions so everyone is competing with walgreen's and cost-saving so we followed this and investors are liking it. stuart: yes they do. a fairly moderately down day. john boehner is speaking again and answering some questions. i want to go back for a second. >> resolve our differencess. >> fund the government will be? >> i won't get into a lot of
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speculation. note it isn't. the central argument is this. will we have a conversation or aren't we? >> many taylors about what possible -- might look like when you want to have a conversation with the president? are we not hearing any details on the bill about the debt ceiling that had to pull off the conferences and started having to do that? >> all we are asking is to sit down and have this conversation. there is no reason to make it more difficult to bring people to the table. there is no boundaries here, nothing on the table, nothing off the table. i am doing everything i can to bring people together and have a conversation. >> asked to resign after the commentary on the web site. >> that is a decision for the
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president to make. stuart: john boehner is repeating his position, all he wants is to sit down and talk with the president, refused to give any details about the issues which will be under discussion, simply says i want a discussion and that was mirrored and echoed by all the leadership from the house republicans and the dow is down 18. when he walked away from the podium moments ago down 33. i wouldn't call that much of a market reaction. moving to something entirely different and more interesting a school district in ohio is removing a portrait of jesus from school property, $95,000 to cover the aclu's legal fees, the american civil liberties union no doubt defenders of freedom. don't whack. they sued the district saying of the painting was
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unconstitutional. all rise. this is his territory, isn't it? judge napolitano: in the courthouse in hackensack, new jersey in the courtroom in which i sat for a number of years were portraits of moses and jesus. and i often would comment to the jurors did is anybody offended by any of this? this is a government building, these are historical figures, the development of morality and law? why can the public school with added that way? the people who run the school district are afraid of making of a type of argument i attempted to summarize for you in front of the jury and so they cave to left meaning in pulses of the lawyers who are suing. stuart: i think you are wrong. i think they cave because they can't afford to fight it in court. the aclu will bring in $1 million from every place on the planet. judge napolitano: at an end they end up -- this is really galling to you. where does than $95,000 go?
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the aclu lawyers. it doesn't have its own lawyers, their outside lawyers brought in by the aclu to litigate this case so not only did the school board cave, not only did the portrait of jesus leave but the public ended up paying the lawyers to challenge did. stuart: would you not agree that is outrageous? judge napolitano: is outrageous. stuart: what are you going to do about it? judge napolitano: they should be able to go out and raise the money to resist the aclu. there should be people who believe in the values of those who put these portraits on the wall, who are willing to assist the school board in this litigation but they cannot be held up by groups because they can't afford to resist them. if they can't do that they should buy insurance to cover it. stuart: this is an aggressive tactic by the aclu and atheist groups which steamrollers school boards and school districts using the law. by having the law on their side. financial proposition from the
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get go. judge napolitano: i agree with you entirely but they should not cave. they should present their arguments openly and dispassionately to a jury and let a jury decide. the argument would be that the portrait of jesus and you can accompany it with other portraits is intended to remind students of the historical development of morality starting with mos is going to jesus. stuart: if one person objects, one person says i am offended that person must be accommodated. judge napolitano: i would argue that should not be the law because i would argue -- prohibits the establishment of religion, doesn't prohibit government for recognizing the existence of religion and the role religion has played in the moral and cultural development of the american people. stuart: is that happening in america today? one person object they win. judge napolitano: i bring it to charles, when elliot spitzer
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held up wall street there wasn't a single from al and wall street gave hundreds of millions to that crook because people are afraid to defend themselves before the jury. the jury system is far fairer than these people -- charles: eight years from now are you arguing this in front of the supreme court? stuart: i want to hear that. charles: ridiculous -- stuart: charles, where have you been? thank you, judge, appreciate it. lawyers, listen to this, lawyers are ruining the country. everybody afraid of lawsuits and now kids can't play ball or do cartwheels at school, the top trial lawyer in the country is going to be here and we will make him defend his profession next. ♪
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my purebred colleague jake who went missing for a few days over the weekend. luckily someone found him, returned him yesterday and even groomed him for us. we had an overwhelming response to jake's story on our face book page. here are some of your comments. mary says it is wonderful to hear there are still truly good people in the world, so glad jake made at home. elizabeth says a call the suits you. happy jake is home, crews there are still good people in the world and sue relates saying we went through this ourselves and understand what a great relief return has brought. like your heart walking back through the door. happy for your family and the kindness of strangers. terrific to have young jake back. the attorney you hate to love, mark lanier from the 1-year law firm. give a thumbs-up to the camera, basically what you doing? you are tainting the jury pool.
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listen to this. there's a school on long island, middle school, ball playing of any kind. playing cat from research. you can't do cartwheels, they are afraid somebody gets hurt, parents sue and the superintendent can't handle the lawsuit. you are a lawyer and ruining america. >> if i believed what you believe i would have the same take you have. i just have enough data to know that is not true. stuart: cart wheels. can't do cartwheels because you might get injured and somebody like you will sue. that is outrageous. >> i agree if that were the case. you can't sue a school over someone doing a car wheel. stuart: when if the brewers their elbow and get a concussion. >> you cannot. the whole reason the
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superintendent, mrs. maloney's word about kids, not worried about lawsuits, can sue a school over that. there is no way. in the history of this country. anybody who is saying is just sounding alarms and panic and all this stuff. let the kids play football. of the superintendent doesn't want him to because she is worried they will get heard that is her prerogative. stuart: go to long island and declare you will defend any school which is sued for minor-league injuries. >> i will defend the ohio school that had to take down, i will do that for free. stuart: coming back into favor. next, shocking numbers from senator tom coburn's report on disability fraud, fourteen million people on disability, a quarter of those cases could be fraudulent and talk about fraud factory in kentucky with doctors involved. doctors involved with lawyers?
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>> a bunch of crooks and they should all be thrown in jail. stuart: i think you are making my point. >> you don't think all doctors are crooks, do you? stuart: lawyers. >> gaming together and if you are going to throw all the lawyers into a group because of that, throw all the doctors into a group because dr. is gaining too. stuart: the lawyers organizing mass fraud. >> the data was filing fraudulent finding and giving fraudulent diagnosis. stuart: the lawyer played the doctors -- >> the government paid to doctors too because doctors are doing fee for service. if the lawyer is crooked doctor is crooked, they should both be thrown in jail but you can't paint all doctors because of that and can't paint all lawyers that because of that. stuart: don't change the subject. listen to this one. websites posting people's mug
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shots forcing them to page to have those mug shots taken down. that is extortion, isn't it? >> i would agree that is extortion. look at it, one thing to say we will let you take it down we will take down for you if it turns out you weren't guilty but you can be guilty as sin and if you pay enough money lot of these websites will take it down. the whole thing is extortion. charles: could be innocent and won't take it down. >> that is ripe for a lawsuit to. what do you think? stuart: this is a lawsuit i might file. i might be a friend of a court. >> we need a lawyer to police this because there's no law. stuart: on the other hand if you are a murderer, a sex offender for example and your mug shot appears on a mug shot website, should you be able to pay to have it taken down? >> some one wants to run that kind of a business than they
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can. i think it is outrageous. stuart: the last major corporation you soon? >> i start from november 5th against toyota for unintended acceleration. i will be tried the first case -- charles: a 5-year-old -- >> finally going to trial in california november 5th. charles: i thought they found they were not, it was drivers who were -- >> no, that is propaganda. stuart: the drivers are your clients. >> absolutely. stuart: how much the think you'll get? >> i don't know. don: what he's doing for? >> not suing for the world. stuart: $20 million? >> probably $1 million. stuart: what will be you take a few get the $1 million? >> after expenses we will be lucky to break even. but it is a -- for other cases i do have. charles: the threat of a future
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suits with a different clients -- the register. >> toyota has pad in this as toyota's best case to soo. toyota's pick. stuart: my head is exploding. >> i drive a tesla. go tesla ago. i am not supposed to advertise the show the cadillac which is a fine, but that to as low. stuart: are you done? >> there's a reason sox are going to. stuart: are you then? will you be back? >> anytime. stuart: i don't know why we like this guy. thanks very much. >> either way. stuart: the push to get a flu shot in full swing, but does getting the shot do enough to prevent you getting sick? a doctor from glaxosmithkline, they hate that stuff. he is here. he will try to convince me to get a shot. ♪ americans take care of business.
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stuart: would you believe we all must put j.c. penney on deathwatch?
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we might have been justified but this morning the stock is up 5%, reporting stronger sales. j.c. penney down 60% but it is up 5% this morning. charles revisiting another stock that he says will make you money, intuitive surgical. stuart: intuitive surgically stake in the big hit. real orchestrated effort to i don't know, really take them down. it has worked to a certain degree with the most prolific non invasive robotic hand surgery machine out there. it has been a phenomenal success over the years but in the last year a lot of people were saying it is not used properly, created some deaths. i don't know how much is true and how much is not. the company is fighting back hard. and another report, stock reversed took off, william blair had good comments, it hit bottom. i.t. love this and i know people in the medical field of the device, doctors, hospitals funded over these machines. stuart: when you think it has
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bought? stuart: at least $500 a share. stuart: i will stay on the medical field. i refuse to get a flu shot. why would that be? the centers for disease control estimates the vaccine only decreases your risk of the flu by an average 56%. we have someone here who will try to convince me otherwise to get the shot, dr. leonard freeman from glaxosmithkline. before you try to convince me your vaccine covers four different strains of the flu. is that correct? >> correct. stuart: how much like a ford? >> wholesale price $15. stuart: wholesale. you sell it to the drugstore or the doctor and he had a charge and i get in north of 15 bucks a shot. do you have any competitors in the field? >> yes, many manufacturers for flu vaccine in the united states with the squadron valence 4 strain vaccine there are four
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manufacturers, thrilled for the first time this year, the centers for disease control is making available and recommending the traditional strain and the four strain vaccines. stuart: your shot is a good shot. is it better than your competitors? >> flu vaccines are work about the same but there is opportunity for improvement so we sat down working with public health community and said what can we do better than the current vaccines? four strain vaccines offer potential for broader protection. stuart: i can afford to buy one but convince me that i should get one. >> influenza is a serious disease that causes tremendous public-health impact. economically the impact of influenza in the united states is estimated to be $70 billion. on the individual level upwards of 200,000 people are
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hospitalized every year in the united states from influenza and in some years 40,000 people die from influenza in the united states. stuart: people who are sick to start with, respiratory illnesses to start with. >> not always. it can occur in healthy people as well. the only thing predictable about influenza is that it is unpredictable. stuart: can you beat the 56%, the old flu vaccine cut the risk by 56%. you can cut it more? >> we hope so. we have to see what happens. stuart: when you want me to get something stuck in my arm made in a factory and you hope it is better than 60% effective? >> we need to follow with and that is what we will do this year in the united states as flu vaccines are introduced. stuart: charles has seven seconds. charles: don't the flus adjusted these vaccines? the more people take the vaccine won't love lou quickly mutate itself to ward off? >> that is not the case with
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influenza. influenza is a virus had is constantly changing every year, public health authorities around the world study the science to see what strains are circulating, make their estimates, the manufacturers in the vaccine, we go in and produce them and for the first time there is this innovation with four strains that offers the opportunity for broader protection. stuart: sorry to extend this but last question. if i get the shot and i still get the flu are you liable? >> you can't get the flu from getting the flu shot. stuart: i mean after the shot regardless, the shot didn't work. are you liable? >> we should not be liable because the vaccines are not promoted to have 100% protection. stuart: when you should meet our lawyer dr. mark lanier. dr. leonard freeland, thank you for being here. up next, bill o'reilly will tell us about his new book killing jesus. top of the best-seller list. my mantra?
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trust your instincts to make the call. to treat my low testosterone, my doctor and i went with axiron,
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the only underarm low t treatment. axiron can restore t levels to normal in about 2 weeks in most men. axiron is not for use in women or anyone younger than 18 or men with prostate or breast cancer. women, especially those who are or who may become pregnant and children should avoid contact where axiron is applied as unexpected signs of puberty in children or changes in body hair or increased acne in women may occur. report these symptoms to your doctor. tell your doctor about all medical conditions and medications. serious side effects could include increased risk of prostate cancer; worsening prostate symptoms; decreased sperm count; ankle, feet or body swelling; enlarged or painful breasts; problems breathing while sleeping; and blood clots in the legs. common side effects include skin redness or irritation where applied, increased d blood cell count, headache, diarrhea, vomiting, and increase in psa. ask your doctor about the only underarm low t treatment, axiron.
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stuart: we are joined by bill o'reilly, host of the o'reilly actor on fox news and author of the runway smash it killing jesus currently no. one on several new york times best-seller lists. bill reilly, welcome to stuart:. "varney and company". you are religious man but killing jesus is not a religious book. there's a little criticism because of that. why didn't you write a religious book about jesus? >> it follows in the killing lincoln and killing kennedy tradition of just the facts about men who have made a tremendous impression on world. there was no need to get into religion. there have been plenty of religious books about jesus but very few historical books. on the cover of the book we have a history and we decided just to go there and put into perspective how jesus lived, how he died and the world around him
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and how that influenced what happened to him and from what we see, 400,000 copies sold in two weeks it struck a chord. stuart: without giving it away for the people who have not yet read the book but will, can you give us a brief idea why they did kill jesus? >> it was all about money. jesus interrupted the money flow, the jewish temple authorities and the romans were taxing the people up to their eyebrows, if they were collecting the taxes inside the temple in jerusalem and jesus went in and overturned the money changers's cables and everybody saw it and the people were furious that they were being taxed so high, they didn't have anything to begin with and we go through all of that and jesus was executed because he interrupted the money flow. stuart: sounds like the tea
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party. you made a career in book writing as an author telling history in novel form. i know you have something planned for the future, your next project. any hint what it might be about? >> everybody thinks they know what happened in world war ii, you don't. we are going to stem the world with our next book and a whole bunch of revelations of what really happened in world war ii with the big players. three more books on the sheet and killing jesus will be the biggest one. that has become a phenomenon. stuart: is great to have you on the show. you are number one in news and it is great to have you on "varney and company". we appreciate it. thank you. dow down 29. not much changed from before john boehner spoke. down 18 when he spoke and 28 now. i call that no change. here is the question, a good
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spot coming up. is america exceptional? our next guest says oh yes, it is. nick adams, yes deputy mayor in australia history is here to tell us what makes america great. he is here. i didn't realize we were going to go straight into it. >> glad to be here. stuart: when you are australian. >> how did you get it right? stuart: everybody in america thinks that australia is now the land, not everybody but a lot of people think australia is the land of opportunity. that is the place that is going somewhere and you come over here from australia and say no, america is still the greatest. make your case. >> australia is a federalist country, no doubt about that. america is the truly exceptional country because america is the only country that is more than the country, is an idea.
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it transcends borders. american exceptionalism derives from the values and virtues of american history. stuart: that is not what the current president things, not what this administration is doing with america. >> exactly right. here is the deal. america is falling behind but it is not falling behind in any other country or other set of ideas, it is falling behind its own potential. its own promise because it has drifted away. charles: there is irony that americans would need someone from australia to remind them how exceptional they are. >> sometimes it takes someone on the outside to remind you. charles: people outside america appreciate it are exceptionalism more than a lot of people who live here. stuart: you are going around america. i have to believe the reception you receive is very positive. >> it is incredible. my message is resonating on
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striking a chord with americans. charles: they believe you. stuart: america has a crisis of confidence, lack of confidence that we are still unique society. >> all across america, absolutely no doubt about that. our job is to make sure america remains strong because confidence is a key part of american exceptionalism. american leadership is the world's great necessity and america can only lead if it believes in itself so i am trying to do what i can to let americans know they need to be strong and need to believe in themselves. they have the infrastructure. they have the equipment to lead the world, have the constitution, the declaration of independence, all of those things. auld they need is emphasize fidelity to them and america forever will be the exceptional ideas that it is. stuart: nick adams, about time you stop saying van and start
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saying we. you should move. >> i would love to move. if you help me i will be here tomorrow. stuart: green cards take a long time. >> you are telling me. stuart: terrific stuff. your book is called exceptional america. >> i have written three books. my latest book is the american boomerang and that is the message of hope. i talk about why i believe an american come back is inevitable and how i think the come back is not going to be like a bouncing ball where each successive bound to slightly lower than the last. stuart: i'd bounce coming. >> i think it will be a boomerang. stuart: i got to go. thanks for joining us. you watch tv you have seen their product. we have the chairman as seen on tv.com. he is helping people, inventors get their ideas out to the masses so to speak. he is making people money. he is with us in a moment.
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stuart: somebody has auctioned off, 18 carat diamond for a record $30 million. the auction took place in hong
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kong. it is at the low end. the public declined to comment on who bought or where the buyer was from. social security administration warns benefits could get ahead if the debt ceiling is an increase. the warning was issued after the agency consulted with the treasury department. it is all about maximum payment. the t s a might allow you to board a plane with your marijuana but at your own risk. in certain situations, being permitted to carry marijuana on board even if t.s. a agents sniff out. look at tesla stocks continuing to rebound after the model as fire last week, basically flat, 182. next. the man --
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stuart: surely you have bought one of those as seen on tv product. our next guest is the man who sells the mom line. important detail. kevin harrington is chairman of asseenontv.com. if i go to asseenontv.com, i can see and bought online any of those products which i see advertised on late-night infomercials. >> we have a thousand product some days, best-selling products on tv, and there they are. one place on the internet. stuart: i don't want to give you a commercial but that is a
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terrific idea. i might miss the commercial, might not go to the brick and mortar. >> phone-number, you got to pay attention. one place you can get it all, there it is. stuart: let's take the pocket hose for example. earlier i miss labeled it. it is the pocket hose's. i have got a couple, a a great idea. have more of those hoses been sold through you, your web site fans through the direct commercials on tv? >> tv is so powerful they will sell tons of them there, but as the tv is running there are tremendous numbers, we sultan of those, one of the big sellers. stuart: nearly six million of those pocket hoses. >> five million units have been sold altogether and those categories it is huge, there have been a couple competitors, the x hose and others but we deal with inventors all over the place.
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stuart: a lot of those said will save but wait there is more. gorman now when you get two for the price of one. how do you incorporate that on a website? >> we give the same offer because we want to mirror the offer that is on tv because we will be right there on the web site. we don't want to confuse anybody. same thing you saw on tv. stuart: the whole thing. >> a convenient way to order. you don't have to remember the phone number or you are walking in the store and don't want to take it home. stuart: a fantastic idea and i like the products. kevin harrington, thanks so much. good luck. brand new $100 bills out today. brand new features to combat counterfeiting. we will show them to you in just a moment.
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lou: on lou dobbs tonight we introduce you to a north carolina man whose private business on the blue ridge parkway has been shut down by president obama and financial park service. that is tonight at 7:00 eastern. stuart: listen to this. the biggest point spread in pro football history, denver broncos
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beating the jacksonville jaguars by 28 points in sunday's game. charles: i am taking jacksonville with the points and the clock. stuart: what does the clock have to do with pig? charles: residence time. i know the game is long enough to be by 100 points. one touchdown against the clock. stuart: when you are taking the jaguars with the points. listen to this. the new $100 bill went into circulation today with new anti counterfeiting high-tech features but a new band with moving images and special think that changes color when you look at it from a different angle. they have been working on this more than a decade. "varney and company" went out to ten different banks, couldn't get a single $100 bill. charles: interesting to see what happens. a lot of other countries are moving away and using a plastic
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type of currency. instead, ours is a fabric, there is no paper at all. it is fabric but they're going to more plastic, that is the wave of the future. stuart: a $100 bill puts the fear of god into drug dealers and counterfeiters. charles: they better get one before stuart varney does. stuart: we sent young the limb out for an hour, ten banks couldn't get one. charles: every major drug dealer in america will have new $100 bills. stuart: we have your take on the evils of lawyers coming up next. . it told him what was happening on the tradg floor in real time. ♪ the shell brought him great fame. ♪ but then, one day, he noticed that everybody could have a magic seashell. [ indistinct talking ] [ male announcer ] right there in their trading platform. ♪ [ indistinct talking continues ] [ male announcer ] so the magic shell went back to being a...shell. get live squawks right in your trading platform
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with think or swim from td ameritrade. get live squawks right in your trading platform so i can reach ally bank 24/7, but there ar24/7.branches? i'm sorry, i'm just really reluctant to try new things. really? what's wrong with trying new things? look! mommy's new vacuum! (cat screech) you feel that in your muscles? i do... drink water. it's a long story. well, not having branches let's us give you great rates and service. i'd like that.
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a new way to bank. a better way to save. ally bank. your money needs an ally. sometimes they just drop in. always obvious. cme group can help you navigate risks and capture opportunities. we enable you to reach global markets and drive forward with broader possibilities. cme group: how the world advances. stuart: last hour i gave you my take on the lawyers in our lives. i gave the example of the school in new york banning cartwheels, game of tag during recess. now here is what you have to say.
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first of all, the purpose of litigation is the process of determining who can best explain their lies so a fair decision or judgment can be rendered. essentially who lies the least. very good, my friend. donald says lawyers have destroyed every system of civilization in america. the rule of law has been replaced by ruled by the corrupt. and june says unfortunately we live in a litigious society and as long as there are lawyers, this vein will continue. it is up to people to gain common sense. this will continue. charles, whose side are you on? charles: i am on the side of letting kids do cartwheels. but people get hurt as a learning process. if we get rid of tort reform across the board and the health care system will be a lot less trouble. stuart: i like you when you
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agree with me. connell: my son has a cross country meet at that school you're talking about, i will send him up there with a bunch of football helmets and soccer balls and lacrosse stick just for a joke. thank you very much. we start our show off with a question. is it armageddon and does it really matter? , is at odds if we should pass and raise the nation's credit card limit and that feeling but is that really an iceberg we are about to slam into? all the facts on this debate as it is coming up. and here's what our government shutdown looks like the rest of the world. john kerry taking president obama's place at a meeting in asia. forced to take a backseat. the big photo op of world leaders. and right front and center is our friend vladimir putin. what it means, what it looks

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