sandra: the dow is down 55 points. join me on outnumbered and noon eastern. it is time for stuart varney and "varney and company". stuart: thank you very much. there is a pattern here. a crisis breaks, the president leaves the white house to raise money. here we go again. another american guys fighting for the enemy, young man from minnesota dies fighting for the terrorists in syria. ukraine's president says the russian invasion has begun. that is pushing the market down and this holiday weekend president obama goes on a fund-raising swing to. again he is tapping the rich. hedge fund guys in westchester and plain old rich folks in newport, rhode island. the president never changes his plan regardless of the optics, regardless of the signals it sends, nothing gets in a way of

golf and raising campaign cash. "varney and company" is about to begin. ♪ stuart: there's another problem surfacing. as the president leaves to raise money. it is the economy. government been counters say it will expand just 1-5%, to something a little more positive in the april through june period, annual growth at 2.2% but overall we are still very pessimistic about the economy. seven of ten say the recession's impact is permanent. only half said that in 2009 when the recession officially ended. here is ed butowksi. put isis of side, put vladimir putin aside, you look at the economy. is there real cause for concern? >> people have to understand the

strength of the economy converts into tax dollars so remember that if the economy is strong we hope it turns into jobs and gets us more tax revenue to offset the debt and ongoing deficit so when we don't have strength we don't have enough tax dollars. we are spending a tremendous amount of money. $600 billion we are going to be short this year so we need to get a consistent 4.5 to 5% gdp number every single quarter for at least a year to generate enough strength in the economy, jobs to get tax revenue. this is putting us backwards, not forwards. stuart: look at the yield on the ten year treasury. i don't want to get too technical but that is an indicator of how the market thinks the economy is going to perform in the future. there's a flight to safety. i got that but that is a barometer of future economic

activity and that is an 18 month low, isn't it? >> not only the united states but the other one to be cautious on, the problems around world. people are fearful in europe. they buy our bonds and yields go lower, people are uncomfortable with the united states but people are uncomfortable around world. stuart: that is not what we are hearing, pick up any newspaper, you listen to congress, a lot of voices say the economy is doing fine. it is recovering. you are saying not so. >> the press needs to have an economic listen. we are not doing what we need to be doing. when we start cutting down the deficit, the long-term debt, the question is how many decisions being made in washington based on the idea of which countries are supporting long-term debt? i would like to know. maybe you can put an r f d cit in where things go with china?

where are these decisions being made. why we being so strong internationally? we's that the people who support the debt. stuart: i want to move on. we dealt with the economy. now let's deal with what is going on overseas lose ukraine's president says russians have entered ukraine to fight alongside home grown russian separatists. fox news reports russian tanks and armored vehicles have roldan, canceled his trip to turkey and called an emergency meeting with the security council and where is president obama? embarking on a weekend of fund-raisers from new york to rhode island. senator john grasso is joining us. >> we ought to call it what it is. is an invasion by russian into ukraine. there are a thousand soldiers, tanks, paratroopers have been captured. it is a direct invasion. it is distressing but not

surprising. this has been going on for some period of time, first with the russians giving aid and arms to the separatists and going further with a direct invasion and the united states has options and have chosen not to take the right steps. stuart: dramatics of you just outlined, the president leaves for the entire holiday weekend to raise money. what do you make of that? >> it is a mistake. we ought to be focused on helping those in the ukraine with arms. we ought to be helping with additional sanctions, stronger sanctions, sections of the economy, and vladimir putin with what we have in the united states, significant amounts of energy which is needed and vladimir putin uses energy as a weapon. we have legislation i've introduced to allow us as the united states to export more l n g, to the ukraine and our nato

allies who are desperately asking for our help. stuart: you have to wonder if the president's golfing and fund-raising encourages foreign tyrants to show their muscle and stir things up a little bit. you have to ask whether what the president does encourages these foreigners. i want to move on fast because i have limited time. we have physis solidifying into an organized state. and a second minnesota man killed fighting for the terrorists in syria. my question to you is would you support an all-out campaign to kill not just contain isis but to kill it and do you think president obama should go to congress to get the authority to do that? >> the president needs to outline and articulate clearly the threat we face in america from this dangerous, deadly, bloodthirsty groups who is

targeting america. the killing of james foley, the video that was entitled image to america. isis is committed to coming after america. this is an incredible threat. even the secretary of defense called it an imminent threat but others in the administration talk about containing rather than crushing, some talk about degrading rather than destroying. i think the president needs to lay out his plan. the level of the threat and his strategy which must meet that threat. we are not at that point. stuart: i've lived in america for 40 years. you have to go back to the carter years, late 1970s to find the feeling among the public, that we are impotent and that is the way i think america feels now. would you agree? >> i agree that our friends across the world don't trust us. our enemies across the world don't fear and send it is because i believe the message being sent out to the president

of the united states, that america is not going to be the international force it has been in the past. when you send out that sort of message that emboldens our enemies seeing it in north korea or ceo, seeing it with isis and also with russia, this is a cross the globe. our enemies are emboldened. stuart: thanks for joining us, short on time but appreciate you being with us. look at the share price of jpmorgan chase, down fraction. the fbi reportedly investigating a hacking attack on that bank and four others. the new york times, hackers were able to sell gigabytes, checking and savings account information, russian hackers suspected of being behind it. charlie gasparino is here. you have a different angle on this.

>> the only different angle is this. this should not surprise anybody. it is the big story -- this happens and i don't think the public appreciates this because you only hear about it intermittently. u.s. banks like jpmorgan get attacked every day multiple times a day, they are attacked by the mideast, they are attacked by the people in the mideast, hackers from the mideast, attacked by hackers in china, hackers in russia, they are attacked every day. the real question is this, why people should be concerned about this. are the banks so worried and under pressure to comply with some dopey rules from dodd-frank that they are not spending enough time with this? i spoke with the bank ceo the other day to spends 90, 90% of their time talking about how to comply with dodd-frank

regulations, how much capital, we complying with the volcker rule, much of this meeting was -- we need some regulation. stuart: are they spelling it out and saying quite clearly that dodd-frank distracts them because of all the regulations they have to comply with, is a distraction from this huge threat of packing? >> they are saying when i had this conversation before the latest attack isn't in the context of the hack attack but what the gentleman was saying to me and and won't say his name, they are distracted from business, being with this, this is a cute story. jpmorgan, it is ironic a couple months ago i was speaking with someone at jpmorgan, they are like prime suspect number one for the hackers because of the biggest banks of their attacked every day, they're working with the state department on this. i am not saying they don't take

seriously. jamie dimon is the ceo of jpmorgan chase, board of directors is a very good board. so many hours in the day that i am telling you this is more important. and these guys, they're pretty smart. stuart: back to the markets. the capital of ukraine, 4 thousands of amended ukraine for the russian separatists. ukraine's president says they are russian troops, that is having a small impact on the market this morning. not much but the market is down in part because of what is happening over there. s&p 500 index below just 4 points, a price of gold is going up. where are we now, up 7 bucks, 1290 is the price. here is the real indicator for our economy going forward, the problems overseas, yield on a 10

year treasury, 2.32%, that is an 18 month low. when that kind of thing happens, you know something important is going on in the markets. sales declines for ten straight quarters at abercrombie and fitch. down she goes. disappointing forecasts, retailers having trouble these days. it too down, new low, 8 percentage points lower. look at williams sonoma. loren is at the stock exchange. i won't make that joke about not selling $40 spatulas all over again but i just did, down 10%. >> the stock was $10 higher yesterday coming in to their earnings report at an all-time high and now giving up a lot of ground. they met their numbers for the quarter but downgraded their expectations for the full year the rest of the year which includes the last season and christmas, let's talk about that

for a second. a lot of people buy items like beanbags for their kids for school and pdt, and $229, 229. not sure anybody would buy that. the large one is 230 bucks. they are a $40 hit at williams sonoma so the rich people are not buying this stuff anymore. stuart: in the economy, they're taking it on the chin. it fits with your theme. this is not a strong economy. >> not a strong economy at all in the retail stores are devastated, they are being annihilated and is not going to change because nothing else is changing. stuart: up next on week in the midst of an era when bubble? we posed a question to former

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or if you have any allergic reactions such as rash, hives, swelling of the lips, tongue or throat, or difficulty breathing or swallowing, stop taking cialis and get medical help right away. ask your doctor about cialis for daily use and a 30-tablet free trial. stuart: russians in tanks and armored vehicles going in the ukraine, the market doesn't like it, down 66. where is the price of gold? not by much, $7 higher, of dollars in '96, where is the price of oil? $94 a barrel.

and they do less and unless. we are asking if this is the 1990s, the dot.com bubble. look at some numbers that are authoritative. what's apps is a messaging system bought by facebook for $19 billion. uber is part of the sharing economy, $18 billion and the big number, snap chat, $10 billion, for disappearing messages, they never made a dime in profit. and apps that since only one word, yo, is worth $10 million. here is bill harris, former into it ceo, ceo of personal capital. is this an era when bubble? >> of course. i am surprised -- $19 billion, you know how many employees, 59. stuart: can you monetize that?

>> of course you can monetize it but the valuations we are seeing, we are talking about such projections into the future, from an economic point of view. stuart: we said the same thing in the 1990s. how many eyeballs they have got? that will translate into a fortune a couple years down the road. >> only if you are an ophthalmologist. stuart: do you think this bubble if it is an apps bubble crashes? >> i am not sure because they are not publicly traded. they are being purchased by companies that have ridiculous multiples anyway so in some ways it makes sense if you have such a high multiple, go ahead and use that currency. stuart: $19 billion, i think it

was paid for. so you inflate the value the apps had but a publicly traded company is an inflated value takes over the inflated apps, and you have a pyramid. >> you do but from this evaluation, i would use the currency to buy cash flowing businesses. cash flowing businesses don't have the same inflated values so i would use my inflated currency value to buy catch flying businesses when things moderate, i have got good ebitda. stuart: let me do the counter. >> you are not good at this because you are a dinosaur. stuart: the inflation in value like what's apps comes from the millennials. these that the youngsters, the policy of revolutionizing everything. >> i hate everyone under 30.

stuart: different from our day. >> it is n.v.. stuart: do you think it is a bobble at some point in the future? will it be ugly when it comes to them? >> not terribly. not terribly. it won't be terribly -- it is not a widespread bubble. stuart: facebook is a bubble? >> come on. it is overvalued. stuart: you know what you are talking about? we appreciate that. thank you very much. time is money and in 30 seconds i will tell you what else we have got. obamacare website glitches preventing thousands of people from resubmitting citizenship information. if they can't update that info by the end of the week they will lose coverage. facebook responding to a backlash against their message apps. they take despite the rumors the apps cannot access your phone's microphone or camera without your permission.

new report from the tech web site rico, apple preparing to debut a wearable devices on september 9th. this could be the i watch that so many people have been waiting for. this could be a big win for labor unions. a federal judge says fedex drivers are not independent contractors. they are employees of the company. more on this with our union people after the break. i bought a car, over and tells you, and you're like. a good deal or not.

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stuart: the dow industrials are down but there are some dow stocks that are winners. mcdonald's, home depot, united healthcare, dupont on the upside in a down day. of federal appeals court, a pretty high level of the judiciary ruled that some 2300 fedex drivers in california where miss classified as independent contractors. joining us, mark makes, goes right to work, organization. good to have the back. trying to get to grips with this

decision. fedex used to classify these guys as independent contractors. now the appeals court says you can't do that. does this open the door for these drivers to become regular employees and therefore possibly joining union? >> absolutely. you have to go back quite a few years to look at this battle against fedex. there was a congressional action headed by ups and the teamsters to get class -- fedexcup as vice and national labor relations act employers oppose railway labor act employer. under the railway labor act which fedex labor laws is governed by the unions have to unionize the entire marketplace of sex as opposed to local units of the ever was to get them under the national labor relations act and now we are seeing this adjudication of independent contractors back to regular employees as part of a pretty aggressive campaign across the country. this case in california was one of 40 that consolidated and the first court to rule the ninth circuit court of appeals that they are now employees and therefore can be unionized understand immunization process. stuart: here it comes. i talked about that is a win for

the unions. here is another one you are involved with. minnesota's home health-care workers held an election. the results announced last week. 13% of these workers voted, 27,000 overall, 13% said yes, we want the union. as i understand it that means that 13% will dictate that the other 27,000 of them will have to join the union. have i got that right? >> that is right. they won't have to join the union but will be represented by the union. stuart: did they have to play? >> under a case we won in the supreme court and june 30th, they can force these people that don't join union officially to pay dues or fees in order to take care of people in their own home. this is personal care providers in the state of minnesota. we have two litigation's, one on behalf of these employees who are refiling today asking for the federal judge if they are to

join enforcement in this election because we had a case he said wasn't right yet because there were no election results so refiling on behalf of numbers of personal care providers and another one, day care providers in the state, that is going to be based on this but your point about 3500 voters binding 27,000, a classic example of labor policy. stuart: is that the rules of reunion representation? >> what they are going to say is we want to be the exclusive bargaining agent for all 27,000 even though a large majority did not participate in the election. this is the tyranny of a small minority. >> this is two wins for the unions. >> website how they organize 27,000 health -- they are touting a huge victory. stuart: i am interested because the trend has been running against unions for some time.

in the private sector. a couple cases where it seems to be going in favor of the unions but not doing it with open votes. they are doing it with a court's decisions. that would be my point. >> they are using litigation and administrative action. the executive branch, the department of labor, department -- the national labor relations board general counsel ruled mcdonald's can be jointly liable for violations of franchisees'. another huge victory for the unions because they have a deep pocket to sue with file unfair labor practices. stuart: thanks for joining us. see you soon. isis cashing in on oil using profits to fund their terror campaign. all the more reason to step up domestic oil production. why is president obama doing that? we ask it of all of our energy guests. we are going to ask again when the ceo of brighting energy

joins us next lose a housing family says even realtors don't believe we are in a housing recovery. we bring you on the show later this hour. illinois governor pat quinn, a democrat, the telling of bill that would have put tough new regulations on uber. jeff flock has details coming up too. will libertarian john stossel support drone strikes against isis? can we kill an american citizen with a drone? what do the libertarians say about that?

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and see why 92% of our members plan to stay for life. stuart: the dow industrials down 60 points. 3 or 4,000 of them fight alongside russian separatists, ukraine's president says they are russian troops in tanks and armored vehicles pushing the market down a little bit, not that much. the kenya treasury is the reaction to the flight to safety of american treasuries and a lot of weak outlooks for america's economy. down goes the yield to a 15 month low. from russia to the middle east

isis is pulling in may be $2 million a day for the oil it controls sending it on the black market. when is president obama going to let us for rack more here? produce more natural gas, more oil? when is he going to jump on board and encourage it? the author of the book of fracking truth, joins is from dallas. i asked this question of everybody who knows anything about energy. why doesn't the president jumped on board and go gung-ho at this moment in time, go get hours, why not? >> great question. i asked myself that every day. i think the president likes to talk about all of the above energy policy that he has got but the reality is the president has invested so much money in renewable energy, the president is against domestic oil and gas.

i don't know why but why can't you get behind oil and gas in the united states? stuart: is your global warmer kind of guy? they using people the co2 emissions are affecting of a climate and we have to do something or we are in deep trouble? does he personally really believe that? >> i think he does. his war on coal, the climate change initiative he has got displays his true belief can he has this climate change idea but the reality is global warming is not about united states that china and india. more coal power plants every day. don't tell us we can't use coal for power generation. that is the idea. if the united states reduces all of our emissions to zero it would not affect the entire planet's you to emissions. the impact of what obama is doing doesn't make sense globally. every day we fight the president

against oil and gas and i don't understand why that is. it is a great question no one has the answer to. stuart: am i right in saying there are two enormous states sitting on enormous reserves of natural gas, as they would be in new york and california? there is no widespread fracking in those states but if -- >> new york has a moratorium in california, very anti fracking and anti oil and gas even though, 100 year heritage in california of producing oil and gas, in 1982 california imported 5% of its oil from foreign sources, 50% of its sources, the united states and other states moving down, calif. moving up. look at the impact california is dealing with. they are in a state of disarray and new york band fracking as well. stuart: california gas prices

will go up in january may be $0.30 a gallon. one last question. am i right in saying because america has switched from oil and coal foes to natural gas, because we have done that, in the reduction of co2 emissions. >> renewable energy, we have reduced our emissions, by using fracking to find more natural gas, we are now leading the world, we have reduced our emissions more than all the renewal energy in the world combined as reduced energy so we are being the world because of natural gas and that will continue for the foreseeable future. stuart: i honestly think energy is the swing issue in this election. a lot of democrats would love to climb on board the fracking bandwagon, produce our own energy and get the country

moving. a lot of democrats want to do that and if the republicans sweep the senate that might be what you might see. thanks for joining us. we appreciate it. the world is in crisis and president obama is gearing up for another fund-raising weekend. more the 400 of them since he took office, wait more than george bush. look at the upticks of this. is that good? look good when the president does this. we have a democrat who says no problem. he is after the break.

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help make their communities the best they can be. building something better for all of us. ♪ >> this is your fox business brief. stocks down broadway at the moment down by 53 points. the s&p 500 below 2000, the nasdaq is giving up about 10 points as well here on the flo floor. some stocks we are watching glaxo smith kline, they are getting ready to test and ebola vaccine on human patients as early as next month. and the shares of jcpenny be at however, the stock is down tod today, basically saying the positive catalysts are already back into the stock, and jessica

alba using her star power for her start up, got a big valuation for her company. president obama gearing up for another big fundraising weekend. is that a good move? we will discuss. [bell rings]

♪ time and sales data. split-second stats. ♪ its so close to the options floor, you'll bust your brain-box. all on thinkorswim, from td ameritrade. stewart: extremely slow trading, not many winners on the s&p 500, here is one. staples, we found one up 1% at 1161.

number of fu fundraisers ever gg up for obama. the hedge fund guys in westchester county. in total he has attended more than 400 since he took office january 2009. he is not slow down the fundraising pace either. here is rickie fowler. president obama supporter. always good to have you on the show, you always have a nice smile. i maintain this looks bad, when the world is burning and you go off to raise money, it looks b bad. number two, it encourages foreign tyrants. he knows he is off on a fund-raising trip this long holiday weekend so he sends tanks into ukraine. it damages america and damaging his image. what say you? >> i think our form policy regime are two different things,

but no matter where the president goes and anybody who cover the white house knows he travels with a full bevy of staff that can update him on anything including form policy matters. any president whether it is george tgeorge w. bush, ronald r even lbj be campaigning on fundraising for their candidat candidates. stuart, divorce the political aspects of fundraising before the election and the impact of what he is doing with foreign tyrants? you don't and there is a connection between what is going on here? when the world burst into a new crisis, the president is off fundraising, it happens every time. >> to begin with the travels with a whole bunch. beyond that point, you can divorce the two. american people are totally and utterly war wary. all the president can do is use diplomacy and sent his secretary

of state their multiple times that has experts monitoring the region, so i think this is perfectly okay. also understand have issues here at main street. stuart: ic and i hear a lot of democrats who are worried. not exactly in despair, but they are very worried how this looks, america is being pushed around all over the world, people are being beheaded, we don't have a firm, clear policy by president obama, and some democrats are saying enough, enough, enough with the fund-raising. get back to d.c., apply yourself, come up with a policy, they don't like to see america getting pushed around like this, don't you feel that within your party? >> i get it. we are going to probably in the next couple of weeks here the

president announced will be launching airstrikes into northern syria. but also argued look at what is happening on the ground, elections all across this country, north carolina where even i spent $10 million could not come ahead in the polls, on the ground democrats are strong and polling strong even in kentucky. stuart: i scan "the washington post" and "the new york times," the bible of the left and both of them say republicans are going to win back the senate. you disagree? >> i totally disagree with that. for republicans to win the senate they have two with over 75% of the contested seats where some of those races they are behind including north carolina, georgia, kentucky, that is just a couple. arkansas and louisiana. stuart: wouldn't you rather see this president lay off a couple of rounds of golf and

fundraisers? appear in the white house on holiday weekend and look like you're in charge, wouldn't you prefer that? >> perception to some extent does create reality but does not take away from this president ability to lead this country and he has led masterfully. stuart: really? >> definitely has had some missteps. how he handled ferguson is a top-notch. he destabilized conflict. that is one ideal of the president leaving. stuart: you hold up your end very good. i am serious, thank you for joining us, always a pleasure. so much for the housing recovery, top real estate analyst says even realtors don't believe the market is really coming back. he will make his case in a moment.

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about housing at this moment or for the rest of the year went the latest realtor index from washington. here is business advisory firm. if i was a realtor, i would be at least feigning enthusiasm. i have been trying to pump up this market drumming up business because my livelihood depends on it. we time he even realtors are not pumping it up? >> you don't hear that very often. it is unsettling on some level. realtors are the cheerleaders for the real estate industry and the real estate market almost any given time but the challenge i would not say they are pessimistic but they're not very optimistic and the two things they quote are tight credit and low wage growth which are both tied to the administration, not toward lender behavior.

stuart: we have seen numbers that suggest the rising home prices has really slowed down, they are barely budging at the moment. this translates into realtors, realists, that is what they are, they are being honest, realistic at this point, correct? >> i think they are. we had 11, 12% the last two years, five or 6% is disappointing but not unsettling. more of a single pace for a period of time. stuart: what are you telling them to do? people like me who may want to buy a house or a piece of real estate, wit what a time people e me? >> we're still optimistic about housing but the issue right now is a lot of things where people are confusing bad credit policy and bad lending behavior with bad economic policy.

defaults and people not qualifying for mortgages is a symptom of something else. you have to have real wage growth, and asking lenders to step up from a public policy perspective to help out the country. where is your patriotism for time and time again. stuart: the deal was you leave school, you work hard, you get married, you get a house, that seems to have been reversed, i don't see that being so common these days. >> people still have an interest in buying, but lenders are not lending to the people who really need the loans. they find themselves saddled with high rent payments because rentals never drop even though housing values dropped 40%, rent has been going straight up.

35% higher than a comparable purchase. stuart: if you are fresh out of college you have a job, you want to buy a house, i bought a house, would you say to that person in five years that house will be worth at least 10% more than it is today, would you say that? >> historically that has been the case. the wildcard in all this is back to economic policies. what are we doing to create jobs, create income growth, there has been no evidence we are able to achieve those things in the current administration, all we are doing, i am not saying the employment situation is improving, it is not worsening. stuart: you sound like a conservative guy who believes in the market. thank you very much indeed. we are learning more about how they operate. new at noon, our cia operator on how they fund itself. and then john stossel libertarian, does he support

droning the terrorists or just kill them? the second hour starting in two minutes.

stuart: ices is a full function state, isis will outlive the obama era. those are chilling headlines, aren't they? the terrorists have moved quickly to create with the "wall street journal" calls and economy of extortion. they withhold food supplies and they get paid, the ransom hostages, they export money from business, extort money from businesses and they pirate oil. increasingly organized state and likely to be there for years. did our inaction let it happen? one more headline, cruelty reins inside. the story describes a man accused of adultery.

he is stoned to death in public. the took a video and showed it on giant screens around the ci city. ♪ stuart: former cia covert operations officer mike baker is with us. he described how move from terrorists to an organized, functioning and financ financed? tell us. >> this has been a long time in the making. a lot of people perhaps it came about shortly after they took the town a couple months ago. but as we kind of burst into everybody's awareness, but this has really been a developing problem for quite a while be at this not as if they hadn't been reporting on it or talking about it and describing this as a

growing issue. during the course of that time he met a lot of the people, many of them who are now in leadership positions, they this started to form. they actually have very organized. stuart: if it was a long time in the making and you guys saw it coming and you warned about what was coming, what happened, why did nobody do anything? >> people were concerned about it, but nobody took the significant action that would have been needed. the growing concern did not fit the narrative that iraq was coming together and the problem is political we can just get an inclusive government things will come together. the civil war in syria sparked this thing into a major flank.

so isis coming out of syria with a consolidated a great deal of territory, they have taken over border posts into the turkish border, before moving into iraq where it really came a problem as far as we were concerned, i guess is it fair to say we ignored it? somebody did. reports were going out about problems related to isis they did not become a major security issue until the horse left the barn. stuart: islamic state of extortion, they are saying it is a fully functioning and well financed state. not army of terrorists scattered around the desert, it is a functioning state, you agree with that? >> it is coming together as su such. it can still be disrupted if we

develop a plan to defeat it, but it is coming together. they have finance departments, interior ministry departments, logistical procedures in place and personnel. they have a number of former senior military advisors that are providing the military backbone they needed. this military of terrorist activity that is compounding us currently. through extortion and through overrunning a number of banks and access to oil, no other country is going to purchase from them but they have it, it allows them to fuel their ability to consolidate territory. this a major problem the matter how others may want to spin it. some are trying to walk that back being a regional issue. somebody better put boots on the ground if we want to solve it.

stuart: that is an interesting subject for another time maybe. mike baker, thank you be at dan hettinger is with us was in this question in his article today, an article every thursday. can the democratic party be trusted with u.s. national security from 2016 to 2020? answer your own question, trust or not? >> no, don't think we can. up to this point when we talk about iraq, ukraine, it is always written about in terms of president barack obama and the foreign-policy decisions he has made. as commander-in-chief and president, barack obama bears personal responsibility. i think however it is a mistake to overly personalized foreign-policy issues. national security is now going to become a primary issue in the election of 2016. if that is true, we have to

think of which party are we going to select? the question before us now is that the democratic party is capable of conducting national city policy for the united states or whether as a party they find it offensive for the latest dates to be involved in the war. recorded recently gave the interview in which he was represented as a hawk, i don't think one person mattered even if you believe what she was saying that she has an entire party behind her in any intervention she might consider. i think the democratic party will fight her just as there will soon be fighting barack obama. stuart: so the democrats across the board do not want to use american military power. simply don't use it. >> that he is to be a tradition of democrats, people like sam or scoop jackson of washington, joe lieberman is a fascinating

example, joe lieberman was a national security prodefense democrat, they ran him out of the party in predicate in 2006. now if you say to name the other defense minded democrats in the party about the only when you can come up with thi his senator dianne feinstein of california. beyond that there are virtually none. stuart: she has a problem if she is opposed by her party. >> not only she has a problem, but we have a problem. the point i'm trying to make is regardless of what somebody like hillary clinton says, at crunch time like the russian invasion of ukraine today or what is going on in northern iraq, if the united states is going to

make a commitment, not talking about boots on the ground, they can fight for themselves, the problem with the democrats is will they sustain that, do they have the fortitude to stick with it, or will they asked the saying goes cut and run when the going gets tough. i think they will not sustain any type of commitment overseas and that is why we are seeing these problems now because the bad guys understand the democrats will not sustain in opposition, so they themselves are moving forward. stuart: thank you very much, d dan. russian troops have entered eastern ukraine. that is not sitting very well, we don't have a profound market reaction to it down one-third of 1% get that is the backdrop for today's market action. down .2%, dead flat. price of gold is higher, $12.91.

maybe the real reaction comes in the 10-year treasury. the price has gone up and the yield has gone down right around 18 month low. a dismal outlook for the economy combining to push the treasury yields down. the government being counter saying the economy will expand only 1.5% this year, anemic. on a positive note april through june had 4.2%, all of us collectively downbeat on the economy. seven of 10 say it impact is permanent. half that i was permanent in 209 when essentially recession end ended. larry levin is coming in. we are now at an 18 month low, tell me, what is going on with this?

>> certainly a lot of pressure to buy bonds, but what is interesting as i hear an awful lot of people on the street saying bonds cannot get any higher. i don't think you have seen the low, really the situation we talked about it a few times now is the fed keeps being involved. you're going to continue to see this. a slide at a playground, basically top left, bottom rig right. stuart: it makes me nervous when the yield all around the world are dropping and america dropping as low as this may be going further down, i just get anxious, don't you? >> i don't blame you. you would think we would be dealing with higher interest rates, a big rush to refinance mortgages, stepping over each other. somebody who refinance their mortgage six months ago is actually doing worse now because

there's a better price for them so i agree with you it is a little bit worrisome. stuart: thank you for joining us as always. the fbi investigates hack attack, take a look at cyber security firm, look at that stock. tell us about it. lauren: about 2.5% pop, started as a buy. the concern about it is the protection stock is the stock is down 30% this year, that is an ugly chart. first of all it went public less than a year ago, it priced at $20 per share. it hit an all-time high of $37. the problem was they bought too many companies, the expanded too fast, now they have to concentrate on cost cutting. by the way i was on the website,

there have been 20,000 cyber attacks around the world today. the basically show you a cloth and if it regions of the world and the number keys going up and up and up as the time goes by. really is unbelievable. stuart: they bought a whole bunch at the beginning of the year, as we understand the drop, but it caught my attention at a time all these cyber attacks, you'd expect firms to go up, that one went down. stuart: thank you very much. here's what else we have for you this hour. thousands of regulations, john stossel gives us the more egregious examples. and as the ceo of an app that lets you book last-minute hotel rooms for cheap if he thinks there is a bubble. plus the politics shaping the race for governor in illinois?

the democratic incumbent sides with uber? and talking about the 15-year-old tennis phenom who won a match, one of the youngest ever to win a game at the u.s. open. talking about her in a moment. one business that says all of president obama labor day fundraisers will cost them a ton of money.

stuart: upscale kitchen equipment isn't selling well. sales are down and forecast is disappointing, the stock is down 10%, what a hit. it is official, apple apples ant in basis event where decided to unveil the new iphone with larger screens and maybe a smart watch. apple shares still very close to a post-split high.

news on uber. after the governor was a democrat video the regulations. jeff flock joins us from chica chicago. he doesn't like to regulate the free-market organization? are you kidding me? >> the big taxi lobby is huge in illinois. passing these bills, he turns around and vetoes them because the latest poll him down by 13 points to his republican challenger. welwell-respected guy challengi, big supporter, no surprise. they this is a way democracy is supposed to work. most people favor it.

stuart: suddenly in a reelecti reelection. now there is a switch. >> the great thing, republican, his wife is a democrat, running campaign ads saying i am a good democrat. he may get some traction in this state. stuart: thank you, we will see you again soon. he will go from westchester new york up to newport rhode island, and all that travel on a holiday weekend is going to cost small plane business a lot of money. she is the president of fly the whale, one of the small plane businesses that is going to be

affected by the president's fund-raising. if you had to ground a few flies because air force one is out there? >> stuart: friday afternoon he goes to westchester, right? we operate our planes out of new york city and charter aircraft out of westchester county airport. stuart: when air force one or wherein one is around, you can't fly? that simple? >> we can fly the charter aircraft but it is very inconvenient, we have to go through intense security measures and reroute the aircraft to different gateway airports, in this instance the closest one is 80 miles away. it cost a lot of money to fly those extra miles. stuart: how do you feel about the president affecting your

business when he is out there fund-raising? >> i don't like it. of all the days friday of labor day weekend probably the worst day to pick to do something like that. it is a huge weekend, the last weekend of summer, there are tons of travelers, vacation travelers, everybody wants to get from point a to point b. stuart: i know a lot of people who would like to take off and go to martha's vineyard, they like to book well in advance. have the now cancelled all these bookings? >> we have had to cancel those flights, we try to shuffle them around. stuart: these people are rich. what do they think? >> they do not like it at all, but they are sympathetic. they know how it is impacting my business and they are

sympathetic to it as well. stuart: to you or the president? >> they have expressed their displeasure. stuart: they really are upset, aren't they? give me an estimate, how many dollars have you lost? >> tomorrow alone will be at least $10,000 revenue loss. it is big for us, and that is not counting saturday, that is saturday on top of that is at least the same. stuart: i wish we could help you, but we can't, but we can put you on tv. what is the name of the company? you can do airplanes off the hudson river? >> on the east river and charter throughout the northeast and florida. stuart: give me 30 seconds, give me a price quote that i can jump on on the east river and fly me to cape cod, how much?

>> 650. >> that is it? >> on one of the shared charte charters. stuart: i want your card. thank you very much for joining us, we appreciate it. didn't expect that. one of the hottest apps out there lets you book a hotel the day of at a discounted rate. the ceo joins us in a moment. are we heading toward a bubble?

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>> players on the age of 17, they want to restrict the number of headers they use to score or pass. stuart: they just want a rule change. >> limit the number of headers and temporary substitutions the medical staff can check their heads to see if there are head injuries. stuart: if they say we will bring on more people to check for concussions for adults, does that change the game worldwide? >> yes, fee for is the international governing body of soccer. it could affect the nfl and the nhl and ncaa if they pick up on what the soccer teams would be doing. temporary substitutions, checking their head for head injuries, longer games. stuart: going to court to change

the rules for everyone on the grounds of safety. stuart: it bears discussion, does thi it not? thank you very much. snap chat worth a lot of money. it has a disappearing message, that is all it. worth $10 billion, got that. look at the value, this is why we are calling it a bubble. 19 billion, $10 million for yellow, is it a bubble? i'm going to bring you an app now that provides a travel service. let's bring in sam shank with us. i'm trying to get to grips with this. hotel tonight, i go on this

early in the morning and i get a list of discounted hotel rooms for that night, that is what you do, correct? >> that is what we do. we work with them when they have rooms that will go unsold, we provide a discount and make it easy to book the rooms at the last minute. stuart: i can see the functionality, great service, what about the fees hotels are tacking on? that was last year. do you get a piece of that? >> no, we don't get a piece of that. very few cases a hotel charges an extra fee, we will be very upfront about that the people will know what they're getting when they book their hotel. stuart: a lot of our people have used your app, but comment on the other apps which have acquired enormous value.

what's app $19 billion, you think maybe there is an element of bubble in these valuations? >> first of all the definition of a bubble is when there is a lot of people driving up the prices of certain commodities, the valuations. in the cases of the ones you mentioned only a few investors making these types of investments but the second is these are fundamentally changing our lives so with snap chat the way you are communicating is becoming something that is really changing the way kids and even more i was snappe snap chag before this show even. the other thing that is happening is uber is having a change in how people move around the city. stuart: you are private, right? >> we are private, yes. stuart: any thoughts of going

public? >> it would be another step along the journey, we don't think about that right now, we we're thinking about building a product, expanding what we do, helping out hotel partners. we are really focused and energized and that has kept us going. that would be a wonderful opti option. stuart: if we put together $1 billion cash and offered it for your steak in hotel tonight, would you take it? >> not a chance. i save it all ended right now, all i would want to do is get back to this moment in time with the customer traction we are getting with the opportunity had of us. we are having a great time, all we're doing is pushing ahead. stuart: i think i actually believe you, i think you do enjoy what you are doing. thank you very much for joining us, we do appreciate it.

up next, i ran once considered our greatest enemy in the middle east, now are they an ally in our fight in iraq? >> is not going to be the international force that i has been in the past when you consider to send out that sort of a message that emboldens our enemies.

is investigating a hacking attack on jpmorgan chase and at least four other big banks. how exactly did this cyberattackers break into jpmorgan? liz macdonald has details. liz: they had fake jpmorgan memos they sent with weather -- letter head at the top telling workers this is a secure message, you need to read this message so it walks and employee through and it looks like it came from jpmorgan management. when you watch the trail of a cyclical link to see this secure messaging you are directed to enter your log on credentials, your password but what is really happening is this is a web page hosted by a russian computer server in russia is that when you are clicking through, you

are in russia on that page but at the same time they're injecting a trojan horse malware into your computer to still checking and bank account information so the secret service, the fbi is on this, every bank employee and every company in any company should watch for this because it is thwarting the best cybersecurity furnace. from malware trojan horse, watch out, it is a heck of a story. even if they don't click through to upgrade the software if you merely log on and start typing they are infecting computers still. stuart: thank you very much. how is this possible, iran becoming an ally in our fight against isis in iraq at the same time we are negotiating with them to give up their nuclear program, give up the pursuit of the bomb. fox news contributor and former spokesman of the united nations rick janelle is with us. i don't get this. this is a total contradiction.

we are negotiating with the iranians, you have got to give up that bomb but we would like your help fighting isis. can't do that. >> the iranians would like nothing more than to have this discussion as part of the negotiations. stuart: they will. >> the obama administration will fall for it but what the obama team is missing is iran is funding and responsible for much of the islamist problems we are seeing in the middle east. stuart: we are going to cave. >> i think we have already caved. i think we have already caved. we keep kicking the can down the road. iran is loving the fact the we are distracted in the middle east with isis and some people think that the entire is really gaza situation was really a pretext for iran to have a little more time without the eyes of the world looking at them. i wouldn't put it past them. stuart: we will accommodate a bomb in iran.

extraordinary stuff. japan, south korea, india, they have all received waivers from the obama administration to buy iranian oil. >> the idea is we are supposed to have sanctions on iran and the number one sanctions should be the oil sanctions except all 20 of iran's oil customers get waivers. what the senate foreign relations committee democrats have done with the obama team is to say every six months if you meet these metals of bringing your production, your purchases down, then we will continue with the waivers but from is china in the first six months of 2014 alone increase their oil purchases from iran by 50%. they are buying oil and putting it into reserves in china. stuart: there are no sanctions on iranian oil. >> they don't exist. there leaking, we have given

waivers, the obama team looks the other way. this is why iran is able to continue having the money to build their program. stuart: we have said so publicly, we would draw some sanctions on iran because we want to give more time for negotiating over what did they get a bomb or not. >> and we have given them $4 billion in money back that was -- stuart: is that leveraged? is here and saying get rid of the sanctions, give us some money and we will help you with isis? >> that is the way it works. the bush administration put five increasingly more difficult international sanctions, resolutions on iran. the obama team has put one. stuart: you worked at the u.n.? >> i work for the u.s. not the un. i make a distinction with that, the state department. i was a spokesman at the u.n. the u.s. ambassador. stuart: and the united nations.

i understand. how did you manage that? >> it was unbelievable. stuart: thanks for joining us. appreciate it. up next, personally i don't have a problem going after these isis people with drones. i would drown them, i would kill them. what would john stossel say about that? surely he would disagree with me. we will find out "after the bell". ♪ ♪ tigers, both of you. tigers? don't be modest. i see how you've been investing. setting long term goals. diversifying. dip! you got our attention. we did? of course. you're type e* well, i have been researching retirement strategies. well that's what type e*s do. welcome home. taking control of your retirement?

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>> lauren simonetti on the floor of the stock exchange, stocks are trying to make a come back, the dow industrials down 35 points of lows of the session, as an be down 2.5, nasdaq fun down 5, apple shares on the move, for the september 9th event where they announce a bigger iphone and maybe new wearable devices. watching shares of the jeweler hitting a new high today, their revenue rose 39% in the quarter thanks to their acquisition earlier this year. digital ally has its first camera quarter since the ferguson shooter, look at that. john stossel on using drones to

strike against isis. we have that story coming up. stay with us.

stuart: i never held back on this program my views that we should drone those terrorist killers of isis. i don't care if they have an american passport, kill them. surely libertarians like john stossel would say that as at least unconstitutional and

certainly wrong. john stossel is here. we're my wrong? john: you go wrong by pushing me outside my expertise. i am a consumer reporter. stuart: you are not a consumer reporter. are you being wishy-washy? john: libertarians say it is right to kill people if they are a direct threat to america. what you are saying is kill any american who is fighting for isis overseas. that is not a direct threat. stuart: the isis guy who be headed james foley, i would drone him. would you? john: if we were sure he was the guy, yes. direct retaliation for an assault on american soldier. stuart: i don't think many american libertarians would agree with you. john: someone, some wouldn't. don: are we done with this? shall we move on? let's go to your area of expertise. your show tonight is all about the green monster, you call it,

the epa regulation, over regulates because they can and they do. john: it should stand for in the protection already because they did good things. the air and water are cleaner, we need those rules but like all government agencies they never go away then. they could live with the staff to enforce existing rules but they have 16,000 people and they are all looking to do new stuff. you don't feel you are doing a job if you are regulated not doing new stuff. this farmer in wyoming who built able pond on his property, he got the state permission. all these forms, all these things he had to do, the state blessed it, he puts it in and of that come in and if $180,000 fine because you didn't get our federal permission. stuart: i know what you are talking about. i have to have permission from the government in order to use a

tracked vehicle to change -- get rid of a pull on the road. stuart: what is a tracked vehicle? like a bulldozer. john: attractor? stuart: aback hope, something like that. john: they go -- they do it because they can. stuart: they have to have self justification. once you have created a bureaucracy you have got to have justification for it to continue to exist and continue to operate. john: most are not as venal faking it. what kind of person joins the epa to be an environmental regulator? often environmental zealots and because government gets to use force they can believe people. stuart: we ended up agreeing wholeheartedly. look at that. what time is the show? john: 9:00 tonight. the epa monster. it is called stossel. stuart: i will watch this thing.

don't be wishy-washy. thank you very much. appreciate it. cheryl casone is here with details on the 15-year-old tennis phenom who is so far taking the u.s. open by storm. it can bring out the worst in people. but the m-class scans for danger, corrects for lane drifting, and if necessary, it will even brake all by itself. it is a luxury suv engineered to get you there and back safely.

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lou: is the president ready to cross his own red line none syria? must asssd still go q and will syria be a go or no go? what will the president to end when? major-general robert scales on the unanswered questions of the obama policy on syria. join us at 7:00 p.m. eastern, 4 pacific. stuart: cc balance is surname, 15 years old, youngest person to win and u.s. open tennis match since anna kournikova when she was 15. when she won in 1996, cheryl casone -- cheryl: nice to meet you. stuart: excuse me? let me introduce this properly. cc is 15 years old, comes from an exceptionally wealthy family, lives in apples and, calif. her dad is a hedge fund manager, add more to the story.

cheryl: she is not taking prize money. anytime you events in the u.s. open you are offered money but she wants to stay -- use only 15, holmes tools, she is a tenth grader, home schooled to the tenth grade, it is a wealthy part of the country. she is not ready to go between now and 18. you don't want to take froes status yet. she has that confidence again, incredible to watch her play. she wants to go to arthur ashe. and can i keep location? stuart: hopefully people want her to be the rising star of american women's tennis, tiger woods of tennis if you like, rory mcilroy of tennis. cheryl: they're comparing her to

your girl friend tracy adkins, she does it -- tracy austin, and really haven't had that young, bright teenagers that comes in that shows the old lady's how to play tennis once again. that is what they're saying, she could be if she keeps dancing so -- stuart: does tennis need -- it would welcome that kind of shot in the arm but doesn't need it because tennis is doing well these days. cheryl: tennis is doing better than it was the last few years and part of that is the economy. it is an expensive sport to play. if you want to watch the u.s. open those tickets are $600. very expensive sport but tennis has had a resurgence. stuart: i forget where i read it but i read it somewhere today, that the u.s. open this year would bring in a one hundred million dollars of ticket sales. that sounds like i wish i could

source of this, i am not in the habit of going on the air with a wild numbers, 100 million. cheryl: they got 100 corporate suites at arthur ashe, the parties a going on down there, the hedge fund manager, good deals going left and right with the u.s. open. the $30 range, the whole thing. stuart: for five years running i was in one of the corporate suites long time ago and i lost my friendship with the guy who owned this week. cheryl: you made him mad. stuart: it is a challenge. >> you had to your bed when you have another discussion about this, you need to sit down and hammer out an arrangement. stuart: when you think i am wearing shorts on live tv, think again. we have a report from bloomberg,

aig's ceo robert benmosche says he's cancer has worsened to the point where he decided to step down earlier than planned. he is 70 years old, he says he now has nine months to year to live. he will step down in the first quarter of next year.

>> this is a major problem no matter how others may spin it lose them in the administration are trying to walk the dog back from being concerned is saying it is a regional issue. somebody whether it is us or others put. on the ground if we want to solve it. stuart: mike baker at stake on isis outliving the obama era because of expensive funding. here is your take on one element of the rest of the show. tommy fleets this about president obama's foreign policy leadership, president obama and vladimir putin alike, dictatorial, take care of their

cronies, target their enemies. a little harsh, not sure i agree with you. here is dierdre bolton. dierdre: thank you so much. we have a day of superstars here, innovator serial entrepreneur ready to disrupt the financial industry again. near-term that means revolutionizing consumer finance as ceo of a firm. paypal let him build the anti-fraud software that made the payment systems successful. we will get his take on a hacking threat facing wall street's biggest banks. from tech to hollywood and back again, a social gaming apps. my into the coming up, the perfect foundation to becoming a founder. banks may be more vulnerable when do we realize. jo lin kent has all the details. what