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tv   Varney Company  FOX Business  October 16, 2013 9:20am-11:01am EDT

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♪ >> do we have a surprise for you. 14 hours from the debt deadline, stocks will go up. you may ask what's going on. good morning, everyone. when the house deal fell apart last night doom was predicted. it's not happening. at least at the start of trading. there may be a last minute deal we hear, and investigators do default story, so the dow will be up about 100 points when that opening bell rings. please do not ignore the obamacare train wreck. new numbers show a minuscule number of people are able to sign up on the exchanges.
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it's worse than we thought. 31 and four weeks from now, you'll be able to buy a piece of twitter. you want it, they just reported a very big loss, yeah. a big day again. let's get started. "varney & company" is about to begin. it's a growing trend in siss do more with less with less energ hp is helping ups do just that. soon, the world's most intelligent servers, designed by hp, will give ups over twice the performance, using forty percent less ey.
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multiply that across over a ousand locations, and they'll provide the same benefit to the environment as or 60,000 trees. that's a trend we can all get behind.
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>> well, we'll bring you the market in a moment, but the -pnumbers on obamacare enrollmet are in. they are not good. in fact, they're terrible. according to figures being reported by the daily caller, it is indeed a train wreck. in the first week the exchanges were in effect. nearly 5.7 million people visited the individual marketplace websites. of those who visited just over 1 million actually completed registration. and that is that they entered their names and personal information into the system. got it. only 36,000 actually enrolled. that means they actually bought an insurance plan from the obamacare website. that is, to repeat, a minuscule number. and then we have this, white house press second jay carney
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commenting on commerce secretary kathleen sebelius yesterday. she runs obamacare. listen to this. >> the secretary does have the full confidence of the president. she, like everyone else in this effort is focused on our number one priority which is making the implementation of the affordable care act worr well. stuart: i know that sarcasm is a low form of wit. often when someone says they have full confidence, it's frequently the prelude to their firing. let's move on. time it money. 30 second's worth of other headlines we have for you. special election senate race in new jersey today. democrat cory booker versus the republican. booker the likely winner, the jut ome will have national implications and from berkley. a new study, it says because fast food workers make so little they depend on the government for assistance, the cost to taxpayers, 7 billion a year, remember, that's berkley saying that. the debate over the redskins name. we were supposed to have a
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tribal leader on to talk about it, but he backed out. we will tell you why in our next hour. all right, the market set to open and they will open higher. stocks moving up right from the opening bell. we are going to see it live. but first this. the united states defeats panama in the race for the world cup. that's not the big story. the u.s. win kept mexico alive and mexican fans, this is rare, they couldn't be happier. listen to this. >> score! we love you, oh, oh t you really love, what would you do?" ♪
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♪ have a little faith in me >> apparently investors have faith in congress. stocks are going up because the investors seem confident that we're going to get a deal. let's see if it's justified. peter barnes is in washington. we want as always clarity. take me through it. how do we get to a deal at the end of the day? go. >> well, it looks like senator reid, the democratic leader in the senate and mitch mcconnell,
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the republican leader, are coming together on a deal. we hear it will probably be announced around 10:00 this morning. and then they're looking at a procedure that would try to fast track this possibly by starting with the house and having it vote first and then sending it over to the senate this-- under the arcane rules of procedure we believe would limit debate in the senate and allow much quicker voting process. >> lets me interrupt. here is how i see it. the senate gets a deal and it goes to the house. it's passed in the house because the democrats will vote for it. it goes then to the president, he signs it and we've got a deal by the end of the day. in brief, that's it, right? >> or by tomorrow. stuart: or by tomorrow, okay, fair enough. thank you, the opening bell is ringing, yeah, well i hear you. look at this, we've opened higher this morning because investors have faith they will have a deal. we're up 52 points already.
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15,225. larry levin, come in from chicago. larry, investors have faith. right? we're going to get a deal and that's what this is about, right? >> certainly, you and peter went through how it can go down today. maybe it's even baked into the market. we're opening quite a bit higher again today without a deal currently and so certainly people are betting there is a deal. if it falls off the table and doesn't get done until tomorrow, look for an afternoon selloff. that's the way i'd play it today. >> we're listening to you. shaw galani is here and investors have faith there's going to be a deal at the end of the day and they have faith that janet yellen will keep on printing money. that the president will keep spending it and the treasury will keep borrowing it, that's hog heaven for investors. that's motivating the market to go higher. the fitch report yesterday essentially didn't discredit the full faith and credit ever the united states taxpayers, it
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was the full faith and credit of the united states government. they're looking past that. we don't have to default unless the government pushes us into it and if they did that, it was catastrophic. and investors are looking past that and saying that they can prioritize and pay off the interest on treasuries coming due. >> yes. >> and sandra smith in chicago, come in, please. let's nail this one, shall we? >> we do know the default, if we go past the midnight deadline, do we? >> no, and the markets have largely been telling us that's what they've been pricing in. we've got stocks up right now, and by the way, the vix is dropping like a dime. so a lot of that fear is sucked out of the market right now. one area where we see a little bit of fear in the u.s. dollar, so, stuart, even though we might avoid default, the markets still have to try to interpret what all of this is going to mean going forward. we're looking at a greenback that's saying, i'm not healthy and things aren't going to get
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better even if we avoid this. so the market's going to spend a larger part of the day, even if we get a deal in the next hour, deciding what this means going forward. stuart: but they're looking longer term and i'm looking for the next three or four, and the dow is now up 79 points, 81 points and rising, 15,248 as we speak. now, sound the trumpets because i believe apple has just crossed-- that was fast. i think we just crossed 500 on apple. i've got to tell you, the iphone 5s flying off the shelves, the cheaper model, not doing so well. so give me the number, nicole, 500? >> 501 and change. and they said they have been working with their suppliers and cutting the orders going forward between 20 and 35%. depending on which supplier. one component actually got a cut of about 50%, so it shows
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you the demand for the cheaper model is, forget it, not good news. what's interesting about the 5s, the more expensive model, that gold color flew off the shelves and they had to increase the orders for that particular style. >> i simply can't believe that, but it's true. the gold color brings in the briar that's terrific. nicole: it would match your tie if you were to have the gold iphone today. stuart: back to you shortly. more big names and got to cover them. strong profits at b of a. they posted a loss this time of year and the profit today, 14 bucks a share, up 1%. intel, different story. disappointing outlook, delaying production, that's hurting, not much. down 9 cents $23 a share. yahoo! disappointing forecast, but it says it's going to keep that big stake that it's got in ali baba after the ipo. that should be a moneymaker. the stock is up.
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and a big story perhaps, a lot of buzz surrounding the twitter ipo. here is jo-ling kent. and shah galani. what's the date i can get out there and buy some of it if i wanted to. >> sources say october 25th, the road show, the pricing analysts are expecting is november 14th. and analysts eepecting november 15ths a the base day. stuart: four weeks from today. >> very quick. stuart: if i so desired. >> they're acting on what we've been reporting, acting as a lion's share has chosen that. stuart: yes, you can buy it four weeks from now, but do you want to? because didn't they just report a loss? >> yeah, losses are up 64 1/2
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million dollars and, but the revenue, it did double. so, that's good news. but taking a look at the users, because the users drive ad revenue and drives the money. first half the 2013, 78% of active users are international. however, just 25% of them are contributing, definitely 25% of revenue. so, the numbers are so a little imbalanced. stuart: wait a second, if they've got international folks using twitter, but that's not the source of of their profitability? >> right, a lot of the ad revenue because they're more developed in the united states and canada and other countries, that's where a lot of the money is coming from, so they're going to have to rejigger and develop he international markets. stuart: shah galani, i know we've asked you before. four weeks from today or tomorrow, i guess it would be. yeah, i could buy a piece of it. would you say i should buy a piece of it or not? >> i don't like to be a twit in the investing circles, i wouldn't touch it. stuart: why not? >> december of 2011 they had 100 million users, a year
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later. 200 million, and now 218 million. i'm not impressed by that. valuation between 12 and 25 billion? i don't get it and i wouldn't touch it. stuart: okay. the users-- the user number between twitter and facebook are wildly different. with what have we got here. 232 million twitter monthly users. but 1.2 billion for facebook. and that's a huge difference. >> there's no comparison, ad revenue possibilities for facebook are virtually unlimited. for twitter i'm not keen on them and limited application uses and i think as far as third party app developers, i think they've restricted some of that. i'm not sure where twitter goes. and as a blogging site i like it, but much beyond that as an investment i'm not keen on it. >> what do you have to say about the next generation of users, most young people are not joining facebook, don't want to be on for a lot of reasons, including their parents.
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a lot of growth in the smaller social media apps that are exploding. what is not to say that twitter has a lot of growth ahead of it. >> i don't disagree. i was wrong on facebook, i should have got in on the dip. and this one i'd look on the dip. i want to see it make money and profitability. >> the numbers aren't as profitable as facebook's were. stuart: thank you very much indeed. two names for you, the dow jones was up, now it's 98. a triple digit gain in eight minutes' worth of business. and back to the ffcebook price, back to $50 a share. no matter what you've got to say, shah galani, that's at $50 per share as we speak. something else for you, strong demand for american girl and monster high. that gives mattel's profits a boost. come on, nicole, what is monster high? >> okay, monster high, it's a e
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deden sent of famous monsters. stuart: wait a minute, i've got to stop you. they are descendents of established monsters and they are skulls? >> yes, and they're selling nicely. stuart: wait, wait, wait. when i use the word monster, i think of ugly characters, fangs dripping. is that what we're making dolls out of? >> sometimes we say sex sells and sometimes we say ugly characters dripping something sells. that is what we're seeing with mattel. can i tell you this now. stuart: yes. nicole: barbie has done well. up 3%. american girl doll, you know that one, sales are up 20% for american girl doll and 28% for mattel's other girls brands which includes monster high. stuart: now we know. all right, nicole, i think you did your job today. thank you very much indeed.
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we do appreciate that. dow industrials up 93 points, look at this. you all woke up expecting a big drop because fitch warned us and because we night not get a deal and we were responding to that talk about default is imminent. nonsense, we're up 95 points, away we go, boys. and david witter and demanding at that staffers sign up like rest of us. and did he get his way? senator vitter is next. ♪ clients are always learning more to make their money do more. (ann) to help melan my nextmov, take scottde's free, in-branch semina...
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>> it's not a triple digit gain, but it's up 79, 80 points
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on the dow industrials. a little changed we're up a buck 70. apple today opened above 500 and now it's up just a little. now look at mattel. up on sales of american girl and monster high dolls, as we just explained. and that stock is up. is that the monster high doll? i guess it is. okay. teenage monster dolls, okay? now you know, everybody, they're selling well apparently. now for something entirely different. president obama, he vows to veto debt ceiling legislation if it includes senator david vitter proposals that congress must sign up for obamacare just like the rest of us. senator, i think you have dropped that demand so we do get a deal in the senate. am i correct, sir? >> i'm still pushing for my legislation, unfortunately, the house was going to vote on it,
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going to vote on a washington exemption of no obamacare language. that's where the pullback was, i'm pushing hard, whether this this week or the future our no washington exemption line. stuart: the way things are worded. members of congress and their staff, cabinet members and some white house staffers, they are not part of obamacare, the way the rest of us are. in the sense that they get, i think, a big subsidy. you want that ended and i think a lot of our viewers, i know, are very much on your side, sir. explain it in full for us, will you? >> well, you know, the democrats and supporters of obamacare constantly argued during this debate. obamacare is the law of the land. well, it is for now and part of that law says that every member of congress and congressional staff have to go to the so-called exchanges for their health care.
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but the obama administration issued a rule to get around that to take the sting out of that, it was about a month and a half ago, and they said, first of all, not all the staff has to go. secondly, those who go get a huge taxpayer funded subsidy to follow them there. the subsidy that no other american at that income level gets going to the individual exchange. so, if obamacare is the law of the land, which it is for now, let's live by it, let's not make up this rule to reward congress and take the sting out of obamacare. you know, the chefs who cook the meal should have to eat it themselves. stuart: now, if we get a deal there's going to be some kind of committee conference that is going to iron everything out at1 some point within the next few weeks. are you confident that you can get your amendment back in again? and get this exemption killed and get everybody on an equal footing? are you confident you can do that? >> i don't have a crystal ball, but i am confident i'm going to
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fight like heck and get a vote and i am confident when members have to actually vote, public votes, into the open light, a lot of are going to come my way because it's the right thing to do. stuart: yesterday on the fox news channel, i interviewed a democrat congressman from wisconsin and he absolutely refused to answer the questionn whether or not he would accept being part of obamacare just like the rest of us. he would not answer the question. i suspect he didn't want any part of obamacare. >> that's the beauty of the vote, stuart. a vote is how you make people answer the question. it's going to be a very simple proposition. are you going to stand with america or are you going to stand with the elite in washington. stuart: senator vitter, we know a lot of our viewers are firmly in your camp and please keep us informed as to how things go? >> absolutely. we'll get a vote and people will get to decide who they stand with like i said so i'll keep fighting.
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stuart: and we want to see. senator, thank you for joining us and we appreciate it. thank you. all right, my take on this woman's emotional story is next. -- paying $1500 a month is a lot of money. and we might decide to drop all coverage and pay the meantt penalty.
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♪ >> looks like the senate's going to get a deal. looks like there may well be an overall deal by the end of the day and up goes that market. 131 points higher and climbing. another fine for j.p. morgan. that would be as expected. they lost $6 billion in a london trade and now, the american authorities are going to fine them 100 million dollars. well, they've got the fine out of the way and up goes the stock. and now to the wall street journal. and stanley, black & decker, and because of the government shutdown and spending cuts, down it goes, 13%. new at 10, the tribal leader trying to get the washington redskins to change their name was going to be on the program to make his case. why he changed his mind. plus, new jersey will elect a new senator, cory booker, the democrat a likely winner, why?
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because he is cool and uses twitter. is that how we elect leaders these days? and a gun law affecting ammunition sales. we'll tell you all about that. the challenge for the media is to make news stories relevant to the lives of everyday people. what does it mean to you? how are you affected? why should you care? my take today features a very relevant story. take note, everyone. because this may well be all about you. picture this, a 55-year-old woman, married with three teenage children. she and her husband buy their own health insurance, they pay $492 a month right now. they buy catastrophic insurance so their deductible is $10,000 a year. because of obamacare, her rate will rise to $551 next month, and nearly $1500 a month next year. they will not get any subsidies.
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just think about this. what is she going to do? next year, the family will have had a youngster in college and later two in college at the same time, and their policy, the next policy must include all kinds of coverage that's entirely irrelevant to healthy people in their 50's. she's stuck. her payments go through the roof, she can't keep the coverage that she wants. obamacare has made a victim of this middle american. i interviewed her extensively yesterday for your world on the fox news channel and i asked her, what are you going to do? she said she had no choice. she can't afford nearly $1500 a month. so, she will have to pay the fine. and if anyone in her family gets sick, then she will buy insurance. this is ridiculous, that's not the way the health system should work. that's what's happening. that's the story of real people. watch out. could be you. believe
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stuart: did you wake up expecting a market selloff today? a lot of people did. it did not happen. how come obamacare is a disaster, but obama pays no price? are we on the verge of default? the judge on that. fire read language from
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democrats. doctor ablow puts them on the couch. we were going to bring you a gift american leader come but he canceled when we asked him if he was a blood member of the tribe. oh, yes, we cover it all. ♪ stuart: will you look at this. stocks straight up. this is surely very simple. if we get a deal by tonight,
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that means we will be able to borrow as much as we walked, spend more money and janet yellen will print more money. let's bring in nicole petallides now. nicole: this is on the news that they are cutting down. it is not all bad for apple. we are waiting for the iphone six, as well. don: if you can sell your high-end model, that is the high-margin item. that is good news.
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that is the way i read it. nicole: i do not disagree. that cheaper model was supposed to get a lot of folks the fallback could not afford the more expensive model. stuart: we have dealt with this doc market straight up. we have dealt with apple right there at $500 acer. let's deal with obamacare now. the daily caller quotiig numbers from a data from that says about 5.7 million people visited the website. a little more than 1 million completed the registration. only 36,000 actually bought an insurance plan from the website.
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that to me is a clear failure of obamacare. joining us now is kennedy. welcome to the program. >> it is great to be here in the flesh. stuart: how come obamacare is an absolute disaster and everybody knows it? >> on every level. stuart: on every level. president obama has won a political victory on the debt. >> republicans gave it to him. there have been a lot of fumbles onnthe red side. obama has been able to capitalize on that. it does not do you a lot a good to continue bashing him.
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stuart: you agree with my premise? >> it is an utter failure. we are on a collision course. stuart: he has won this debt debacle. he has won the government shutdown. >> is there a way in here? i do not think people are walking away from this saying, that is my guy. he has not taking care of anything. what does raising the debt ceiling do? it adds to our children's burden. >> they have done such a bad job i think ted cruz that he was going to have his rand paul
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moment. charles: -- >> that takes political savvy. i think the senator from texas does not encompass that yet. >> we have to start focusing on obamacare. you cleared away the debt debate. what are you left with? >> no one has an actual plan. there is no true foresight in washington. they are all doing a bad job. >> we have endless crisis and spending.
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>> the sad thing is, i look at the country and the fact that they are going to elect someone might cory booker, it just shows that people have given up. charles: particularly from a public relations standpoint. i think we will have two wait for those roosters to come home to roost. >> obamacare is the perfect -- this is a great metaphor. emotionally, we need to have free healthcare for people who cannot afford it. wait a second, i am a middle-class working mom. stuart: i interviewed someone yesterday afternoon.
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i do not want the socialist healthcare. i really do not. this will be my own personal odyssey trying to figure out as a working mother what am i going to do to get my family insured. that is my personal situation. the president has made it worse. we have been complicit in this broken system and now we are relying on the government to fix it? stuart: kennedy, stay there. let me deal with twister. mid-november when you and i and anybody else can actually buy stock in twister. that is the ipo date. the company just reported a loss of $64 million.
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monthly users, twitter cannot hold a candle to facebook. charles: it is about growth potential. some facebook users probably felt that way when they bought it on the first day. >> it is also generational. facebook is considered for grandma and grandpa's. stuart: are you saaing a grandfather like myself does not tweet? >> i think you know a few things about hash tags. [laughter] stuart: that was cruel. just stay there for a second.
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are you going to buy twister. charles: i do not know. stuart: back to nicole petallides. jpmorgan heading down. even after leading the dow on the upside. they will pay a $100 million that. nicole: they are paying out $100 billion. this was something that was looming. this move now puts the fees above the payment that they have to make. that was a big loss. 6.5 billion. now they have paid out $1 billion in fines. i do not think that they are
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totally done. stuart: talk about a war on the banks. 6 billion of your own money and they find new. they should have seen it coming. stuart: new jersey voters heading to the polls today. kennedy, i will start with you. we have cory booker. he is the likely winner. are you going to tell me that he may win because he tweet and because he is cool?
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>> you tweet, why did you not run for senate? stuart: answer the question. is this why he wins? because he is cool? >> i think that their are a lot to use social media to their advantage. he does know how to promote his own call. stuart: it is a state election. if the state of new jersey elect somebody because they are cool, because they are on facebook. charles: i am the next president obama. let's move forward.
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>> what about zuckerberg $100 million cash infusion. the national trend is for filing crime. it has been dropping across the board in every major city. stuart: pay attention to the left--and side of your screen. viva is up big. it is a cloud software company. it just went public. up 86%. why do you do not that one? charles: you could not buy it until today. stuart: do you watch his program regularly?
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>> i do. i kidding me? stuart: president obama warns of the fall. blames the republicans. the judge is next. ♪ in today's markets, a lot can happen in a second. we route your order to up to 75 market centers to look for the best possible price
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>> avenue to start fixing this financial situation, for sure. it will be a catastrophe if we do not. stuart: he got that right. let us know what you think. charles, reportedly, will make us some money. charles: a hugely successful
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company. it is down right now. this stock has been on fire. another one of these eruptive companies. they are reinventing this whole thing. you can take these blood test and get it back in ten minutes. i do not know if i have ever seen this. in the last six months, insiders have made 4.8 million shares. stuart: can they do a blood test and minutes on me and charge me the $1400 for blood tests which i pay when i go to a regular .there and a regular lab? charles: i think that they could.
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>> i love the way you get so happy when you can save a dollar. stuart: you will hear this now. i have standard issued regular blood tests. we all do. i saw the bill. fort team hundred dollars. are you kidding me? it was not even royal blood. [laughter] i wanted to nail something down for me. the president tells us, democrats tell us, at midnight tonight, if we don't get a deal, we default.
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>> midnight tonight is the estimated time put forth by the treasury department by which the government would like to know what it are awaiting authority is. there is no bill that is due at 12:01 a.m. that the government cannot pay for. point number one. point number two, transfer payments, defense and debt are automatically paid out of the funds that the government collects from taxes. it will take a long time for the government to run out of those funds where the government cannot pay its bills. stuart: thank you. they want to scare us. they are scaring us with lies. it is one thing for the democrats to say republicans are messing it up.
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what they are saying when they say we default tonight is the moral equivalent. it is so incorrect. stuart: thank you, judge. >> it depends on how this ends. if i lost you mean eventually the government will begin borrowing, eventually come they will probably resume its borrowing. obamacare is a failure. it has pointed out to the country that the constitution contemplates two vvtes for every bill. a vote to enact the bill and a vote to fund the bill. most americans did not realize that. obamacare is too costly and the tea party has pointed that out.
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iffthe tea party were to prevail and obamacare were not to be funded, guess what, the government borrowing cut in half. stuart: would you accept that it was a political loss for the tea party? >> it depends on how it ends up. if they stick together or either stop our wing reduces barring or replaces the terrible leadership of john boehner with someone more faithful to the constitution -- stuart: here is how they may win. when ms. debt debacle is over, then you can get back to obamacare, the disaster. >> the tea party has succeeded in holding the government and ran some.
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stuart: i do agree with you. >> it is because of what their constituents have been telling them. stuart: we could not get in your ten seconds worth. charles: i believe that if this was a football game, they would be down seven-zip in the first quarter. >> unless the government moves the goalposts. stuart: why don't they plant? [laughter] >> you sound like boehner. stuart: i do not know what i am talking about. thank you, judge. the debate over the redskins continues. we were supposed to have a tribal reader on the show today. he canceled. >> i do not believe the redskins
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is an offensive name. i do not believe it should be changed. >> it is definitely something to look at. it could be offensive. it could noo be offensive. you definitely have to sit down and have a talk about it. not with john boehner steve i do not think that the name should be changed. i think it is more of a political issue soon i think some people get is offensive, therefore, i think it should be changed. >> it is a football name. i do not care. ♪ when we made our commitment to the gulf, bp had two big goals:
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stuart: it is still a big rally. we have the cloud of software company. it debuted on the billboard today. up 86%. somebody may be surprised that ipo, maybe. sprint that an upgrade. sandra smith in chicago. a football fan. the nfl adding another game two thursday night. to think that is overdoing football?
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sandra: i do not think you can overdo it. i think you can put a major football game on on a wednesday morning at 8:00 o'clock the morning and you will get a good audience. >> think very much. i have to break away for a second. speaker boehner, we understand has just arrived on capitol hill. probably going to be a deal in the senate. it then goes to the house. it will probably pass in the house with the help of a of of democrats. maybe all within today or certainly first thing tomorrow morning. that is why the dow's are up.
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let me not digress too far away from football. bob costas igniting the debate. he calls the redskins name a slur. we had a guest that was supposed to appear on the show today. then the story came out which questioned whether he was a true member of that drive. we asked him about it and then he canceled on us. here is the quote. the nature of this hateful attack is bigotry at its word. anyone who chooses to give credence to this attack should be ashamed. all right, charles, let's get back to name. do you think that it should be changed? charles: i really do not.
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it was a lot different than the movies before. liberals said it was a bad thing and then blacks jumped on the bandwagon and said it was a bad thing. what the heck. why was that so bad. it is a strong proud, native american and my mind. i think they are twisting this.3 i think this is part of a larger agenda. you can't elevate these pockets of victims. why are we so focused on this?
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by the way, this guy, he does not represent all native americans. we should keep that in mind. stuart: charles, we do hear you. congress simply cannot negotiate. we have dr. keith ablow's take on this after the break. >> extremist republicans are attempting to torpedo the senate bipartisan progress with a bill that cannot pass the senate, can't pass the senate and will not pass the senate. >> what are they doing this to the american people? wasting the public's time. in this case, time is money. >> we stand a good chance of defaulting. that would have a potentially devastating effect on our economy. ♪ shshe loves lot of the same things you do.
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♪ stuart: they say they are negotiating a resolution for the debt problem. bring in dr. keith ablow, please. we have heard foreign language.
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they use words like sabotage, hostage. they take a position that we are not budgeting. you can say that that is not negotiating. >> look, number one, if you believe that the other side, this language torpedoed, taken hostage, i think the president victimization mentality has gone viral. that is what i think stands between a logical iscussion
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between the parties. the victimization mentality of the president. stuart: would you extend that the republicans? >> i think that they are trying to cope with how you discuss things with a group or an individual who sees you as predatory and deserving of paying restitution. i think that is literally where we are at. when the president uses this language and it goes viral to the leadership, it is very tough to come to any type of agreement. can you imagine a ceo saying to me seem like a wife beater. they should be thrown out of the room.
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it sets americans to feel like big domes. stuart: we do not have an agreement. we have a surrender and victory party. >> absolutely. i wanted to taak to about the today show. it made light of american sectionalism just the other day. run a little bite from the today show. sorry. we do not have it. discussing american exceptionalism. cheeseburgers. artesian cheese. i think that did this service to our exceptional country. >> absolutely. guess what, american
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exceptionalism is what has saved the world from fast as him. it is what brings chores to the world. it is very much tied to not seeing yourself as a bit dumb. it was an opposition to the notion of american except as him. it has affected people who want food stamps instead of a chance to do better. stuart: you make an awful lot of sense. >> it is truth, but it is the truth.
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charles: a bunch of guys aking millions of dollars a year sitting on a sofa at a tv studio, they better understand how exceptional that is. it is a disgrace. stuart: a dow is still up substantially. we understand that senate republican our meeting today. they are expecting an announcement by 12 noon. speaker boehner is on capitol hill right now. expect it to pass with the help of democrats votes. then it goes to the president. we may have a deal by the end of the day. that is just my speculation, by the way. connecticut's new gun law
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labor cost. seventeen people dead after a big typhoon struck japan. it stopped japan's east coast. it forced evacuation of 20,000 people. international inspectors hoping to end the standoff. israel and u.s. questioning iran's sincerity next, the unintended consequence of connecticut did. ♪ [ male announcer ] imagine this cute blob is metamucil.
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♪ stuart: take a look at this. 18-foot or fish. it was discovered in about 20 feet of water. i am told it is the find of a lifetime. kim kardashian's engagement ring, the one she got before her 70 today marriage sold at auction. >> did he get the ring back? [laughter] stuart: i do not know. i am just reading the prompter.
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i do not follow the cardassians. are you ready? don't tell me, you are revisiting michael kors. charles: i have to. this is a company that beat the street by 2530% every time they report. same-store sales last time they reported were up like 27%. it is a monster. they are still taking market share. i think they will continue. stuart: did you not recommend it when it was upper 50s? charles: it has been a monsser. stuart: do you encourage your relatives to shop out michael kors? speak soon i spent a lot of time out michael kors. stuart: they just told me to move on, for heavens sakes.
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[laughter] charles: who are the two twins? they always said when it comes to an engagement ring, if it rakes off, you return the ring, but you keep the stone. stuart: they are really telling me to move on now. gun legislation. as of october 1, president must pay $35 for an ammunition certificate. they will undergo background checks just to buy that. some say this is a new addition that is hurting abiding citizens and hurting the gun business across the state. larry king joins me now. all right, larry, i can understand why in the wake of that horrific shooting you would get legislation like this. you think it is bad?
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>> obviously, people feel terrible about what occurred. our headquarters is based in newtown. we all want to make our communities safer or try to make them safer from the acts of a madman. stuart: you make your case as to why you should not have to have an ammunntion certificate and a background check back because criminals do not obey the law. criminals will not spend $35 to octane certificate. this will only burden the law abiding citizen. imagine if you had paid the state of connecticut $35 in order to buy a newspaper. it only affects the law abiding
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citizens, the criminals. the focus should be is on trying to prevent unauthorized access to firearms by criminals, by people that are mentally disturbed. we have a number of programs that work toward doing that. stuart: i've got it. a state like connecticut, they do not want guns. i know there are hunters in connecticut, but the vast majority of connecticut, they do not want them. >> that is not entirely correct. the industrr grew up and started in connecticut when eli whitney invented interchangeable parts. there is still a very large presence in the state. what will happen as a result of
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this all is that one third of the business is down. stuart: by roughly one third? >> yes. the people who are really affected by this are individuals that come through out-of-state on hunting trips. they do not know anything about this requirement and they show up and cannot purchase any ammunition. there is litigation going on right now in the courts. we will see what happens. we certainly advocating for citizens to become aware of the law. stuart: i want everyone to know that i am not anti-guns.
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i am just wondering about this particular incident in the state of connecticut and the response to it. larry king, thank you, sir. come again. because fast food workers make so little, they depend on taxpayers for handouts. $7 billion a year. we will get into all of that. along with this big rally on the stock market. we will be right back. ♪ cme group can help you navigate sks and capture opportunities. and drive forward with broader . global markets cme group: how the world advances.
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stuart: i have breaking news for you. fox news confirming that senate leaders have reached a deal. they have the text of this deal. that means it is written down. it is on paper. it will reopen the government and avoid the debt ceiling. they have a deal on paper. that is why the dow jones is so strong that running. they have to deal in the senate. we told you earlier that speaker boehner had arrived on capital hill. i think, charles, it is likely to pass because democrats will vote for it.
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charles: it will pass the house. here is the interesting thing. the markets are up. we were up almost 2% since the saga began. we have become a nation of cliffhangers third we love the cliffhanger. we have become accustomed to the cliffhanger. they try to make this into a much more significant crisis than it is. they were praying for a stock market crash. they were praying for blood in the streets. i hope people remember that. stuart: various leaders wanted a stockkmarket crash. they thought it would give them much more leverage to get their way on a deal. >> it did not work.
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burkett did not sell off. charles: and the world did not come to an end. here's the thing, they have established themselves in a position where they can make an excuse. with the jobs report comes out that they will blind the crisis in washington. a reflection of poor fiscal policy for the last five years. you will blame it on this. stuart: i have some details. a continuing resolution. that is essentially a spending plan. it is a budget deal. resolving to continue to spend. it will run through january 15. the debt ceiling lifted until february the seventh. the president obtained the ability to use extraordinary
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measures app point period that sounds to me like a queen bed limit bill. no strings attached. you must verify your income. stuart: speaker boehner will put
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it to the whole house. we are just learning that. hold on. it is expect it to carry. in reference to your sarcasm, maybe half of them will be proven ineligible. charles: we will find out. charles: that is where the sarcasm comes from. charles: i want to see about sequestration. stuart: they do not want that. charles: the president does not want it although it has been successful. stuart: charles, thank you very much, indeed. our time is up. connell: a lot of news this hour. even these guys in the state of
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wyoming have had it. by saying just north of wyoming. that is where we are. here is where we stand in d.c. we are hearing harry reid and mitch mcconnell do have a deal. senate leaders hope to have some sort of announcement before we hit the road eastern time. part of this deal would reopen the government through january january 15. a lot can happen. we will keep you up to the minute on all of this. there is much more in store as well including a nice stock market rallied on this hour of "markets now". here we go. dagen: here we

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