tv Varney Company FOX Business November 17, 2014 11:00am-1:01pm EST
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mixed story. we started off weaker and now bouncing for the dow jones industrial average, up just about a fraction there as buck see there. s&p and nasdaq in negative territory. thanks for being with us on "opening bell." stuart, it's all yours. stuart: maria, thank you very much, indeed. how do you feel about this? the taxpayer shells out a fortune to be insulted, lied to and deceived by jonathan gruber, the president says gruber was never on the obamacare staff. how do you feel about that? good morning, everyone. this is all about the liberal elites who conspired to foist obamacare on the american people. the hoax is falling apart. now we find there's big money in lies and deception. gruber was paid $6 million taxpayer money. the president is in denial, but the truth is coming out. gruber met with the president in the oval office as obamacare was planned. and the media covered it up. our own melissa francis, while working at a unit of nbc, was
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ordered to stop reporting obamacare cost problems. that's what you're looking at as we start the new week. america betrayed by the elites again. "varney & company" is about to begin. ♪ ♪ stuart: we begin with, who else? jonathan gruber. professor at mit. you, the taxpayer, paid him at least $5.9 million to work on state and federal health plans. charles payne is with us. right from the get go, i've got to the tell you, no doubt you can tell there, i'm steamed. this is outrageous. >> everyone should be steamed. stuart: yes. >> i mean, it goes to everything we talked about for years and years, these snotty-nosed, these elitists, ivory tower, admittedly an ivory tower -- stuart: he said it. >> looking down on top of the rest of us with our money. stuart: yes. >> you didn't earn a penny in the free market. you went out there and you just
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took. and for them, for everyone to distance themselves, he got money from the nih, from four or five different states, from the federal government, he had his hand in every single trough. he was a pig who sold the same stuff. like an e elixir salesman, the same crap he sold over and over again and at the taxpayers' expense. stuart: $5.9 million total, 1.7 million, department of justice, 1.6 million, the states, 103,000 from the state department -- >> i looked at some of that two million, the national institutes of health, and he gave the same report every year. it was the same thing. the dynamics of planning the close on prescription drug utilization. i mean, it was like 2006, here you go. 2007, here you go. i think he was just rubber stamping the thing and getting a check in return. stuart, this is -- stuart: i'm not laughing. >> this is what i'm talking about when you have these elitists, and this is why they got crushed a couple of tuesdays ago. you have these elitists on the
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coast who think they know so much more than us, the regular people, but they deserve to be wealthy. they deserve to be paid. how can the obama administration talk about income inequality when we pay a guy like this $6 million? stuart: i want that money back. i don't expect to get it, but i want it back. listen to president obama distance himself from gruber when questioned by fox news' ed henry. >> did you mislead americans about the taxes, about keeping your plan in order to get the bill passed? >> no, i did not. i just heard about this. i get well briefed before i come out here. the fact that some adviser who never worked on our staff expressed an opinion that i completely disagree with in terms of the voters is no reflection on the actual process that was run. stuart: all right, charles, i've got two points to make. i just heard of it? that's nonsense. number two, doug elmendorf
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running the cbo, congressional budget office, walked into the office and said, mr. president, the math doesn't add up, you can't save money. four days later gruber was in the the oval office talking about obamacare. >> and then, of course, president obama spoke to the cbo again and somehow, miraculously, we were making money off the deal. listen, they know how to game the system. the cbo's set up to be a neutral party, that's fine, but they have to take the data they're given. and they have to make these assumptions. these assumptions are so faulty and so off the charts, they know how to game the system. and it was really amazing, we remember, i remember having this conversation when they made elmendorf do almost the equivalent of a perp walk up to the white house. stuart: they did. >> you walk up to the white house in shame, and when you get here, we'll dress you down, we'll tell you how this thing works, and all of a sudden it was the best thing in the world for america, obamacare. stuart: what we're talking about is 15% of the united states
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economy has been messed up by the elites. that's what we're talking about. >> you know what's crazy about it, stuart? what have we gotten out of it except headaches and higher expenses? stuart: got to get to the markets this monday morning. where are we? how do we start out? big news coming from abroad, bad news on japan initially dragged down the dow jones industrials, but now we've bounced back a little bit, and we're up about a point and a half. the loss has gone away at the moment. s&p 500, where are we? down just a tiny fraction. we are flat at this moment. baker hughes, nice pop, halliburton is buying the company for, wait for it, $35 billion in cash and stock. a lot of money. this will create an oilfield services giant that's going to give schlumberger a run for its money. baker hughes is up. oil, the underlying price there, still that four-year low or very close to it, $75 a barrel. here's the good news this monday morning, price of gas kept falling over the weekend, $2.88
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is your national average for regular. and look at this, please, 34 states are in the $2 club. these are all the states where the average within that state for regular is below $3. bottom line, you've got to drive a long way to find a $3 gallon of regular. i want to get to that news out of japan and how it might affect you. a surprise announcement that japan has officially slipped back into recession, despite plans to print an astonishing amount of currency. japan's economy is contracting again. i think, and this is my opinion, i think that may be good for our markets. let's bring in art laugherer who will, no doubt, set me straight on the basis of economics. [laughter] here's my theory, everybody else is printing up a storm, depressing the value of their currencies. the value of the dollar goes up, and international investors who want to play the dollar by american stocks and our industrial average goes up. how am i doing? >> i think you're fine, i think you're great. i've never seen a strong country
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that doesn't have a strong currency, stuart, and i think you're correct. by the way, i loved charles' description of jonathan gruber. being an academic myself at the same time, it's so reminisce isn't of david stockman, isn't it? do you remember that story? stuart: he was on this show last thursday or friday, i think it was, art. we try to keep you apart. >> it's all right. i get along very well, but this is what he did, the whole kerfuffle with the greider thing in the atlantic, it was amazing. and i'm very glad gruber did this, by the way. he at least gave us the window into the faulty logic and deception that goes on in this type of politics. stuart: as you heard from charles, art, it's not so much f it, it's the contempt that some of the elites hold for the rest of us. i mean, it just so mad ping, quite frankly. >> but they all do k. i mean, these people, all of them, hold contempt for the masses. they think they're really dumb
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and they don't, you know, they're just uneducated masses, and we at the university are clearly superior to everyone else. stuart: okay. let's get back to -- >> sure, let's go back to japan. stuart: japan. that's my theory. >> i think you're right. japan's just killing itself. i mean, it is following slavishly all the left-wing policies of stimulus spending, printing quantitative easing, devaluation of the currency, regulations. it is just incredible. and you see the results. i mean, they have been so underperforming. they started all of this in 1990. i wrote a paper back then called japan: the land of the setting sun. and they have been declining ever since. and all they do is when the results come in wrong, stuart, all they do is doubling down and do more. and that's exactly what they're doing with this consumption tax and trying to weaken their own currency. it's cats if you can. stuart: on the one hand, they're printing a ton of money, on the other hand they're raising sales taxes quite dramatic
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dramatically. and as charles pointed out, you print a lot of money, that's good for the elites. the money goes basically into their pockets, but it's very bad, when you raise taxes, it's very bad for ordinary people, and your whole economy comes down. >> this is exactly obama, is it not? you watch what bernanke and yellen have done with quantitative easing in the u.s., and obama's reversal of the bush tax cuts, we have tax increases, stimulus spending and printing of money, and you see how well it works here. they've done it even more so over in japan, and japan can ill afford to be declining any further. this is a country on the way to extinction. stuart: yes. >> their birthrates are way down, it'ser terribly tragic to see how that government refuses to listen to anything. i've written a couple of papers recently on japan, and they just don't move. they keep going -- stuart: well, but, art, their underlying problem is demographics. they have the most extreme demographics of any society in recorded human history. >> but that's a consequence.
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that's a consequence of their bad policies. who wants to have a baby in japan when you see the future? why would you ever want to have it? the demographics are a consequence of what they've been doing, not a cause of what they've been doing. their policies are absolutely disastrous. and that has led them to be very depressed as a population, very depressed in economics, and you're seeing the consequences of what, you know, what these economics can do. stuart: well, they're just not making babies, are they? let's not get into that. >> that's sort of a fun topic. [laughter] leave that one alone. stuart: why don't we save that and promote it like crazy for a couple of days in advance, and we'll get good ratings. [laughter] always fun. >> thank you. say hello to charles for me. stuart: he's listening. >> hi, art. stuart: anything to say? >> no, he's right though. the young men there are such depressed situations, they stay at home -- stuart: you know, you brought us that story, the young men who just, they won't go out.
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>> they call them grass eaters, and it's really scary. it really is a shocking thing. people need to study this, because it's what happens in societies. it's not just japan, it's starting to linger here too. young men who would rather stay at home and play video games afraid to go out in the world, don't know how to communicate and create friends. e it's a tough thing. and when you see few economic opportunities, it makes it worse. stuart: all right. i want to get to a winner on the stock market. >> let's do it. stuart: tyson, they are the chicken people, i believe. why are they up so much, nicole? >> reporter: ballpark franks, hill shire farms, they came out with profits. their fiscal year numbers are record setting. stock is up about 5%, about a buck and a half from its annual high. beef prices have been on the rise for beef and pork. they've done very well with the antibiotic-free chicken. they've seen double-digit growth in that particular area. so a nice pop, up about $2. at the moment. stuart: yeah.
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that's 5%, and i think most people would take a 5% pop. >> i think you're right. stuart: nicole, thanks very much. dr. martin salia has died, the surgeon who contracted ebola while in sierra leone. he passed away, i believe, a few hours ago. president obama vowing to move ahead on amnesty. he says he already consulted his lawyers on what he and cannot do, but he won't say what he will do. judge napolitano on that in a moment. and later this hour, fox business' melissa francis calling out her form or employer for censorship. they wouldn't let her say what we all now know, the obamacare math doesn't add up. >> when i was at cnbc, i pointed out to my viewers that the math of obamacare simply didn't work. not the politics, by the way. just the basic math. and when i did that, i was silenced. it's monday.
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and constipation. nothing can reverse copd. spiriva helps me breathe better. sfx: blowing sound. does breathing with copd... ...weigh you down? don't wait ask your doctor about spiriva handihaler. stuart: all right, check out the big board, please. we are down just four points, i'm going to call this a dead flat monday morning stock market. the "wall street journal" reports negotiations between hasbro and dreamworks animation
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are unlikely to start up again. apparently, there are issues regarding the structure of the combined company. look at those two stocks, dreamworks down, hasbro up as of right now. now a number that's going to make you mad maybe. according to the latest pew survey, one-quarter of all americans do not believe people are better off in a free market system. they prefer socialism. i'm not surprised in the obama era if you've got a ton of people getting something from the government, they like it. >> they do, but it's also a sign of serious desperation. if you look at the advanced countries where capitalism is most popular, south korea, germany, usa, those are three very strong economies. you look at the bottom three, spain, japan which just went through recession, greece. look at the advancing world, the developing world. bangladesh, they love capitalism. the last two years, gdp up 6.3 and 6.1%. ghana, 2.2%. kenya, gdp up 2.7 last year, how
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about the number one country in the world that loves capitalism is most? vietnam! knocking the cover off the ball. [laughter] 5% last year, 5.5% the year before and 6% growth this year. number two, china. 7.5% growth. then nigeria, 4.5% growth. places that get a taste of this and they know what the alternative is, it's these lumbering giants, it's europe that's dead, it's japan that's dead. it's a quarter -- 25% of americans that have lost hope. those are the only people who can row romanticize socialism. they don't know. the people who have lived through it, they're like give me capitalism any day. even north korea, by the way. venezuela, major revolt, the beginning of the end of socialism in south america. major revolt. stuart: now, that's food for a
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monday morning. there are reports that president obama will sign an executive order maybe this week that would give amnesty to up to five million illegal immigrants. listen to what the president said when asked if he'd consulted his legal team. >> in those five months, sir, since you said you were going to act -- >> yeah. >> -- have you received the legal advice from the attorney general about what limits -- >> yes. >> you have, and what you can do? >> yes. >> and would you tell us what those are? >> no. [laughter] a i will tell them when i i make the announcement. but it's a good try though. stuart: very funny. all rise, judge andrew napolitano is with us this morning. what do you think of that response? >> i thought it was a little, a little smug, and i thought the question was really excellent. he has two legal teams. he has the white house legal counsel which is a lawyer with about 25 or 30 lawyers who work for that lawyer. he also has something as our friends in the "wall street journal" called this morning the office of legal counsel in the justice department. the president's white house team
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almost always tells the president what they think he wants to hear. the olc and the justice department are ordinarily very serious legal scholars who do not necessarily tell the president what he wants to hear. i don't know what legal advice they gave him, but we start with this proposition: something can be legal and unconstitutional at the same time. he is the chief law enforcement officer in the land. he can legally say to the attorney general stop all deportations. he can lawfully do that. he can do that because he has what's called prosecutorial discretion. he can decide how the prosecutors should spend their money. for example, go after drug dealers and bank robbers instead of illegal ail yeps. it's a policy -- aliens. it's a policy decision he can make. what's the check on that? it's what's called gross abuse. what does that mean? that means when the effect of his decision defies the law, has the opposite effect of the law, he has abused his discretion.
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the law is you're here illegally, you have to register and leave. he is refusing to enforce that law by the exercise of his discretion. that makes it unconstitutional, that means he's violating his oath to enforce the laws. what's the remedy for that? stuart: politics. >> impeachment. >> stuart: yes, impeachment. >> i don't think the republicans will do can it, but that is -- stuart: hold on a second. this is legal wrangling, getting from this counsel or that counsel. it is irrelevant judge -- >> it iser vel rant to you and me and to the vast majority of americans. in his mind it is not irrelevant, as long as he can find somebody who works for the government who gave him legal advice to justify it, he'll claim -- stuart: he's going to do it anyway. the solution to this is politics. the vote. he has to be opposed politically. >> well, legally -- stuart: it'll take forever. >> he has the reins of power for
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the next 25 months. stuart: yes. and he's going to do this. >> the government probably could deny funds for certain things, but he's not affirmatively doing anything. he's negatively saying -- stuart: right, exactly. >> -- we will not spend money on prosecution. stuart: look, all of this legal wrangling iser relevant. i'm sorry to say, but it is. it's politics that counts. >> the american public is entitled to a president who enforces the law. i will tell you this, the case for impeachment against barack obama is far sounder than the case was against bill clinton. not even a close call. stuart: and it's still not going to happen. >> probably not. that then becomes a question of the political courage of the party in power. stuart: and that would distract the entire country from getting on with the -- [inaudible conversations] >> they have to make a hard choice, distracting the country
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and putting the president on the defensive and all those awful things that when the president is being impeached or living with a lawless president who acts like he's a prince. stuart: the democrats will seize on what you just said, because you mentioned that word, and they're now going to say, ah, see what these people want to do? they want to impeach the president and distract the country -- >> that's the remedy under the constitution. he can't be voted out of office, that's the remedy. stuart: yes. >> and, of course, he does have a backstop to impeachment. it's called biden. [laughter] stuart: what's that mean? >> who'd replace him, come on. [laughter] is that what they want? [laughter] stuart: i'm a little slow. sorry. took me a while, you know, on monday night. judge napolitano, thank you. another sickness outbreak on a carnival cruise ship. according to your response, according to your responses on facebook and twitter, it's not scaring you from booking a
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stuart: news from the nfl. dea agents conducted surprise checks on team medical staffs as part of an investigation into prescription drug abuse. the teams included the san francisco 49ers, the seahawks and the tampa bay buccaneers. the game of the week, ah, that was a blowout. jonas gray scored four touchdowns. the over/under line was 58, on friday i said take the under. clearly, i was wrong. 172 people on the carnival cruise crown princess, that's the name of the ship, they've been diagnosed with the highly contagious norovirus. just seven months after 129 people contracted the same virus on the same ship. listen to what one passenger had to say about the experience. >> there were so many people walking around with little buckets of sanitizer and wiping down walls, and every time somebody got up from a table, they were wiping down the table and wounding down the chairs. stuart: a lot of you told us on
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facebook and twitter that you would still go on a cruise. kathy says this: i have gone, and i will go again. i'm not going to be scared into doing nothing. i like that. don't be a prisoner. john adds: the issues that have been in the press lately could happen in different ways on any trip, so why not go? and jen says: personally, cruising is my family's favorite vacation. the service and amenities offered are perfect. keep the comments short so we can get them on the air easily. the senate will vote on keystone later this week. the obama administration remains critical, the president calls out the pipeline as something that just benefits canada. ambassador john bolton responds. >> understand what this project is, it is providing the ability of canada to pump their oil, send it new our land -- through our land down to the gulf where it will be sold everywhere else.
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send us the photos where you are. a drag on stocks, down 19 points, not much of a selloff. walmart a new high, $83 per share. a couple more big names going up right now. apple and yahoo, both of them on the upside. sorry, slightly lower. apple at 113, not bad. different story at priceline. that stock is down $19. on a $1152 stock. as for oil around about the four years low, the price of gas keeps going down. $2.88 is your national average now. next hour the return of american muscle cars, two big horsepower cars are selling very well with
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gas at $2.88. japan'japan slide into recessios happened. we got the news overnight. you have been betting against the japanese government bond market and the japanese yen for long time, haven't you? you have made a ton of money out of this, haven't you? >> metric ton or english time? this trade has only just begun, and we're witnessing failure in japan. there is an economic theory of purported by guys like larry summers of the world. that economic theory is if a government increases spending and does so with borrowed money, that will spur gdp growth. the japanese have been doing this since 1992 and it is not working. the economic policy is completely failing and we're witnessing debt does matter be
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at our own policy makers in the united states should be learning about what is going horribly wrong in japan and i sincerely hope they are watching. stuart: i only have 30 seconds, but i think what is going on in japan could be good news for america. the dollar is going to go up a lot because of this, if you as international investor wants to play the dollar rise you by american stocks, so i say what is happening there could be good news for us. what do you say? >> i am worried about geopolitical tension as the yen continues to weaken, and i think it will weaken a lot more from where it is, who does that anger the most? the chinese. currency wars oftentimes start real war. that is what we have to keep a close eye on. the chinese do not like the actions of the bank of japan not one bit. stuart: you just opened up a
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pandora's box right there. we will pursue this. thank you. president obama on the keystone pipeline says all it does, using his hand singles like this, all it does is bring canadian oil down across our land to be sold elsewhere. ambassador john bolton here with a comment on that. i was struck by the tone of voice and the way he described our ally to the north. there oil coming down here. what is that? >> those dangerous canadians taking us for a ride again. the president is a know nothing. hoping his environmental base doesn't want to build, so he will find any reason convenient to veto the legislation congress will be considering. stuart: his relationship to our ally and friend across the
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border, i was kind of shocked at that. >> canada joins the long list of allies trashed by the president. it should be a joint canadian north american oil and natural gas. we are the new opec of the world or we could be if we repealed legislative restrictions. between the accommodation of liquefied natural gas and oil from the fracking and the new areas opened up in mexico, we have a potential to change not just the economics of energy in this country but geo strategy as well providing alternative sources of supply be it >> here we are, revolution and energy is all hours, we could be the new opec. we can dominated the supply and the president doesn't want to do it. it has got to be more than the greenies won't support him if he does it. >> you are carbon centric, that is your problem.
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they don't want carbon-based fuel to be more important to the overall global economy. that is not in their world. charles: right now the solar panel plant in california taxpayer money to $.2 billion, they need another bailout. the president is working on that right now for them. 65 permanent jobs. it is so huge you can see this thing from orbit. they have used so many mirrors, but it is a failure be at already borrowing more money from taxpayers, this time from the department of the treasury may be, they will find somewhere to give this but 55 permanent jobs versus a lot more permanent jobs, tax revenue and great paying construction jobs be had >> stimulating the entire
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economy. that is what the gas prices at the pump have done already. we would get more of that if we had a more integrated supply system in north america. stuart: i have to ask you to comment on the remarks. the chinese had with the japanese are doing printing the money and driving their currency down. he is raising the specter of warfare. >> we are ignoring east asia at our peril. there can he keep the value of the currency down to increase exports. now the japanese are doing better at it. it is more than just economics. china is beginning to assert its influence along the land. china is not engaged in a peaceful rise. this not necessary going to be responsible stakeholder. united states needs to look at
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the future. charles: there are all signs pointing to a new arms race. >> this is the article of the constitution we imposed on them after world war ii that prohibits them from using force in international obligations. i think we should encourage him. stuart: john bolton, not bad. three and half minutes, that is terrific. melissa francis calling out former employer saying they censored her for speaking the truth on obamacare. more on melissa after this. >> on a result of what i said on cnbc i was called into management where i was told i was "disrespecting the office of the president" by telling what turned out to be the absolute
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hitting new highs of half a percent. apple record highs again today, all-time high won her 17.28. back in negative territory. we also looking at two oiled field names. down 8.8%. off the high still up 11%. much more "varney & company" coming up. in the u.s., real estate in hong kong, and the optics industry in germany? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 70% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing.
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stuart: our own melissa francess is creating quite a buzz with her show involving her early coverage of obamacare. roll tape. >> i pointed out to my viewers obamacare simply didn't work. not the politics, by the way, just the basic math. when i did that, i was silence. i pointed out it couldn't possibly be true that if you like your plan you can keep it. that was a lie. in fact millions of people haved their insurance cancelled. as a result of what i said at cnbc i was called into management where i was told i was "disrespecting the office of the president" by telling what turned out to be the absolute truth. don't trust the other guys. i can tell you firsthand they are willing participants in the
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campaign to keep the economic truth from you. don't let them do it. stuart: cnbc has issued a response to the comments, here it is. they say that is laughable, but we take notice because as the fastest growing network in time, we are always the lookout for high-quality comedy writers and actresses. melissa is with us now. that was a slam on you. >> number one, he did not say it was not true. that is a nondenial denial to some of people have pointed that out because they know it is true and they know it happened. it is so sarcastic and so condescending, do you want your financial network to get a lookout for actresses and calmly writers? is that what you're going for, are you hoping we're going to have calmly writers and actresses on the set, or are you
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looking for someone on the lookout for your money? stuart: did you not study economics at harvard? >> i did, somebody said that was a reference i was a child actor growing up. it is hard to sort through the sarcasm and the condescension in the comment. they are laughing at their viewer the same way jonathan kroebegruber is laughing at folt there, laughing at voters and taxpayers. i think it is a serious matter. stuart: it certainly is. what you brought to light is the fact the establishment media covers up this kind of story, does not report it, and suppresses it when the truth is alerted to by people like you. >> i remember at the time we were having conversations about the idea there is no free lunch so there has to be a cost and when you add all these people three system, there has to be a
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cost. folks who have their rates go up, there is a cost. what is that going to be. the president said magically by all these people joining it would bring all the cost down. if you don't if you macroeconomics or common sense, you know that doesn't sound right. is there going to be some magical technology or something that makes the cost come down? after a while i was come down after one show in particular i was disrespecting the president. stuart: that is a reason you were told to shut up. whether you are right or wrong, that was irrelevant. >> your disrespecting the office to the president because he was out there really selling it, and other people at nbc who are vocal and i have said what about this one or what about that one. they said it is very clear they are political, they can have an opinion. it is not an opinion, it is
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math. stuart: you made a very big splash on this. how many views have you got? >> 1.8 million people have seen the clip from friday be at the outpouring has been astounding. so many people have written, tweeted, facebook. very little negative response, i think there is a lot of anger, people feel like they got conned on obamacare and they are angry at everybody a part of it. stuart: what you've done is expose the truth. establishment media clampdown any negatives about obama or obamacare. you have exposed fact. >> i would say this instance people need to understand the math and the facts of obamacare. we may have all decided this is what we wanted to do.
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it is right for healthy people to support poor people who didn't have insurance. the missile have decided it was right thing to do, but every job to put the real facts out there so people could make an educated decision about what they wanted to do and what politicians they wanted to support based on how they voted and instead there were told this lie about how did have a cost to it. stuart: the show today is a big one. run with it. the restaurant business hit hard by obamacare. we have some real-world examples for you next. it's monday. a brand new start. your chance to rise and shine. with centurylink as your trusted technology partner, you can do just that. with our visionary cloud infrastructure, global broadband network and custom communications solutions, your business is more reliable - secure - agile. and with responsive, dedicated support,
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stuart: obamacare is hurting the restaurant industry, especially small franchisees. come on in, ceo of backyard burgers. i think you have 68 restaurants, mostly in the southeast, is that correct? speaker that is correct. stuart: you are in an ideal situation to tell us if that is correct. his obamacare hurting your business? >> we have been exploring this journey the last couple of years. live in setting aside money for
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next year for additional premium cost. made the conscious decision to offer medical benefits to our 100 or so eligible hourly employees and w we're in the process now of the health surveys truly determine how many of these folks are interested in taking advantage of the benefits. stuart: you've set aside $280,000 for the premium increases you're going to to pay for, but only 100 hourly paid employees must be covered by health insurance, does that imply you have a whole bunch of part-timers who you don't have to cover? >> yes. we have 150 eligible employees between our salary and hourly management of employee base of 400. 250 people who don't meet the hours threshold at this time.
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stuart: would you expand further if it was not around your neck? has obamacare impose some kind of intimate on your expansion plans or your profitability? >> absolutely. it certainly affects our profitability. money that can be used for capital improvements, investment in new restaurants. the other things that you are aware, there is the affordable test we have to meet. one of the things that surprised me as we have gone through this is the minimum participation requirement that many insurance carriers have set down. stuart: what is that? >> of the 150 or so eligible employees in our company currently 50% would need to participate in the program for us to be insured. stuart: are you going to get 50% to do with?
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>> we hope so. a lot of it comes back to how much of the premium are we going to need to pay to make it an incentive for people to sign-up. >> you have to jump through bureaucratic regulatory hoops, conform to the new law, then your business every which way just to conform to the obamacare mandates. that is where you are at, is it? >> absolutely. professional employment organizations to move to that because one of the things is also the requirement in the reporting this needs to be done each year. stuart: the law of unintended consequences, i would suspect. thank you so much, indeed, we appreciate you being with us. more lies, more deception, the president's credibility collapsing? the second hour two minutes away. ♪
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stuart: this sounds harsh. the d.c. of the president. voters have already been stonewalled. the later is this series of trust deciding issues. the framework of lies was created to pass it. taxpayers shelled out millions. now, this president is going to war with the people and they're clearly expressed wishes. amnesty. deceived the people, united and
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225 in texas. it sounds to me like the president is not willing to compromise. >> since you said you would act, have you received legal advice from the attorney general about what limits you have? >> yes. >> will you tell us what those are? >> no. good try, though. stuart: david joins us now. i hate to use the expression. to us, this sounds a lot like war. digging in his heels and demanding we go around the will of the people. it sounds like war to me. >> that is right. this is not the spirit of
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bipartisanship. that is the constitutional prerogative of the congress. we need to get back to enforcing the current laws. let's work together. the president and congress on what we do next. >> i actually offered the president some constructive advice. the accountability will then be on us. if he goes ahead by himself, the only tool we will have is the
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provision that says none of the funds provided may be used to enforce the executive action. that is something we are talking about right now. do you think it likely that professor gruber will be called to capital hearings on the hill? >> we actually believe the american people are smart enough to control their own health care decision. making the choice that is right for them. being told by the liberal elite.
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>> it is simply saying that the president defend the american people. stuart: thank you for joining us, sir. appreciate it. japan recession. steve moore joining us now. all right, set me straight. art laffer set me straight earlier. i want you to do the same thing. japan to dig dig up a storm of money and depressing their current use. our dollar gets much more valuable. our market goes up. >> you got it exactly right there. exactly the right analysis.
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it is good for consumers when the dollar strength since. i have to make this important point about japan. massive tax increase that happened at the beginning of this year. japan raised their national sales tax. consumer spending spiraling down and causing a recession. everyone predicted it. >> i hate to digress from economics. the worst extreme demographics. a massive number of older people. a shrinking workforce.
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a demographic problem that you cannot turn around just by printing money. >> well put. they just do not have enough workers entering the workforce. this is one reason why we have a demographic safety valve in the united states. it is actually good for our economy. stuart: people like me come to this great country and have six children. [laughter] >> you have more than your fair share, stuart. >> the average american couple is only having two kids.
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china also has a demographic problem. stuart: see what i am doing for you people? [laughter] >> that is why i love immigration. stuart: one quarter of americans prefer socialism to capitalism. i am not surprised. people like having stuff given to them. >> i am not surprised. that is what they learn in college. that is what they learn in high school. we may have to change the terminology. the free enterprise system. stuart: yes.
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control the language. free market enterprise. that is very american and very positive. >> there you go. the goose that lays the golden eggs. stuart: i like it. it has all been a failure, folks. stuart: we want to talk with professor gruber. thank you. a big headache for a cruise line. nicole: you talk about carnival today. you will be time it in with a gastrointestinal virus.
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carnival cruise line comes in to california on sunday and is met by doctors and the like because they had 172 passengers on board that were suffering from a virus. they are using stringent measures to disinfect. they will be real barking out. heading out to the mexican riviera. a lot of people are in fact suffering. the second time in less than a year. stuart: a cruise is a good deal. a cheap, easy, everything is done for you, give away. no serious impact. nicole: it really has not. down about a half percent.
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stuart: very careful. all right. we will see you later. thank you very much. more and more stores being open on thanksgiving. the story behind one-woman campaign behind stopping those stores. melissa francis silenced by a former employer when she tried to speak the truth on obamacare. john cather, he says the restaurant business may be picking up. that is a good indicator for the economy. who said that our love affair with muscle cars may be over. the chinese, they want to buy the waldorf astoria hotel in new york city. the feds are now stepping in.
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stuart: what is the best performing stock on the s&p 500? i will tell you. baker hughes. they will create an oil services giant. the government taking a closer look at the deal for the chinese to buy the waldorf astoria hotel in new york city. here is cheryl casone. what is the red flag raised by america? cheryl: potentially, national security issues. this is a chinese company. the problem is, this is the waldorf astoria in new york city. every u.s. president stays here.
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over the weekend, we have the president holding this conference. they had new agreements with the chinese. yes, one of his divisions may soon be an investigation of the sale. this is from the committee for investment. by law, information filed may not be disclosed to the public. the treasury does not, on information related to specific cases. who is that party we are talking about? it has been widely reported that he is frustrated. if you are going to do this deal, fine, but get it underway.
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a lot of problems with this deal. a lot of controversy at the end of the day. until the government decides what they are going to do, no deal. stuart: may i bring it all down to one sentence. america's government is worried about the chinese government bothering the president's suite at the waldorf astoria. cheryl: as silly as it sounds, that is exactly what it is. the american muscle car, thank goodness, it is alive and well. the new dodge challenger. they are the most powerful cars ever made in america. the eight engines.
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they are a huge hit. you have driven these things. >> i have driven them. incredible. there is so much want with these cars. it is like driving around a nuclear weapon. >> when you put your foot down, it is like hell has opened. stuart: that is the car. >> it has that old school muscle scar look. $61,000. the next car you could find in the world, you would spend $300,000. this is way up there on the
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charts. >> people's attitudes have changed. there is no doubt about that. people are happily printing it. the first five days, the books were opened. stuart: 4500 orders for them after five days. >> that was just orders ahead of time. stuart: detroit must be pulling its hair out. they thought that gas would go to $5 a gallon. nobody wants a tiny little of compact now. they want an suv. >> we are now under $3 a gallon. stuart: do you think that it would be reversed totally?
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>> they think that it is now more like five. no one is expecting that to happen anytime soon, that is for sure. the hellcat is a 10. it is like driving a destroyer. for the money, you just cannot buy this kind of experience. ford just unveiled the new mustang. there is no stopp muscle. >> it has this incredible engine. it will be on sale next year. they were planning on making 1000, 2000 of them.
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now, they literally are trying to figure out how to make more of the engines. stuart: get out there and drive guilt free. thank you very much indeed, sir. retailers upset that they have to work on thanksgiving. now, they are doing something about it. >> i would like to see us actually close for the day. that is a big hurdle to overcome. either volunteer or make it a plane eight hour day. it's monday.
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stuart: cold temperatures coming to the east coast. right now about 200 million americans across the country experiencing freezing temperatures. we want to see what the weather looks like where you are. send us your photos on facebook and twitter. kmart will be opening its doors at 6:00 a.m. on thanksgiving. 6:00 a.m. >> we are non-essential employees. i do not feel like we have two
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be open on a holiday. give us some time to spend with our holidays. this is not just kmart. stuart: all stores should be closed for thanksgiving and christmas. we need families to come together and not be torn apart. there are always folks that have to work the weekends and holidays. retail shopping is not that important on banks giving day. i have been working for the same employer for 17 years. i wonder thanksgiving, christmas and new year's. it is part of life. the woman's daughter will be on this program tomorrow. the mainstream media largely sympathetic to president obama and his healthcare law. >> there is no free lunch.
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when you add all of these people to the system, there has to be a cost. there is a cost. what will that be? ♪ they challenge us. they take us to worlds full of heroes and titans. for respawn, building the best teractive entertainment begins with the cloud. this is "titanfall," the first multi-player game built and run on microsoft azure.
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speak to news that japan slipped back into recession. we are of seven points. look at apple and yahoo! earlier. both of those stocks hit new highs. they have backed off. new highs earlier this morning. we have 34 states in the $2 club. thirty-four states now. melissa france this. she called out a former employer. she was on the show earlier. melissa: all these people joining would bring all the cost down. if you know anything, or common sense, this does not feel right.
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the cost does not come down. it did not make sense. after a while, i was called in and told that i was disrespecting the office of the president. stuart: told to shut up in other words. stuart: you follow the established media and how they cover stories. seems to me that was a blatant example of covering up the truth. what say you? >> oh, it definitely was. she was trying to simply cover the story following the numbers. i do not think very many journalists are at all curious.
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>> bob schieffer called out gruber. >> we have another example of the sorry state of american politics. people take money for which things that they do not believe. i can take care of my enemies. just protect me from my friend. stuart: wow. that was bob schieffer. the exception to the rule. he was forceful and his interpretation there.
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>> this story broke on abc. nbc covered it on sunday. then they did a story on this morning's today show acting like this is a brand-new controversy. the "new york times" took a week to get to with. this follows a bush administration official. it would have been huge news the second if rope. this is a one and done. they do not really want to cover this story. stuart: i think you are being very gentle. i think they are simply not doing their job. i think they are part of a conspiracy. 15% of the united states economy
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rearranged by the liberal elite. they mess up our entire medical system. the establishment media -- how can you possibly not think that that is a story when you have tape after tape after tape of jonathan gruber just insulting the american people. how can you possibly not say that that is a newscast story every single day. >> while, of course, it is. nbc this morning, their coverage said it was off-the-cuff. they told their viewers over and over and over again. they did not include that in their story at all. stuart: flat out nonsense. the idea that his comments were
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off the cuff is your nonsense. the man is a professor at mit. he knew what he was doing and he lied about it and he deceived us. it is pure nonsense. >> i think that dirty little secret is it exists and a lot of newsrooms. they are part of the same cobol that think this way. stuart: good stuff. appreciate it. let's get back to japan. it has slipped back to the session. it never really emerged. keith fitzgerald is with us. on the program earlier today, i have been saying that what is happening in japan may be good news for our market. every other current seat will go down with the printing of money.
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our dollar will go up. our market goes up because of this. >> i agree 100%, stuart. they can actually play a long with a shortening of the japanese union. there is a couple different ways you can play this. stuart: some japanese companies will do very well. i am thinking toyota. do you think a stock like toyota could do well because they will export like crazy? >> absolutely. i think that they have distributed manufacturing. they have currency going and. other things, including elect tronics, semi- conduct tours,
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they are all things that are great plays right now. >> they have the most extreme demographics. they are in recession. the most indebted nation in the world. now, they are printing up one third of the gdp. give me the in game here. where are they headed? >> our future 20 years from now. in japan, they are really worried about deflation. they have no immigration it is easy to print money right now, but it will be tough to make a living 20 years from now.
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you rob peter to pay paul. i think the politicians are just arrogant enough that they just may actually try it. it is just mind while going. stuart: yes, it is. we appreciate your expertise. thank you for joining us. bar rescues john tasker. knows a thing about running a restaurant. he says business is picking up. that is a good thing for our economy. ♪
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>> we are beginning to look up a little bit more. not exactly a rally. 17,658. president obama dismissing jonathan gruber. oh, i'm sorry, look at oil. that is the price of oil at the moment. maybe we will get the price of gas to go down just a little bit more. the president dismissing jonathan gruber and his work on obamacare. >> did you mislead americans? >> no. i did not. i just heard about this. i did well briefed before i come out here. the fact that some advisor
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expressed an opinion that i completely disagree with, in terms of the motives, is no reflection on the actual process that was ran. stuart: you heard the president. it seems to me that the story on gruber was developing all of last week when tape after tape after tape appeared. he said he had deceived the american people. you could not tell the truth about what obamacare had planned. they lied about it and it did pass. he was relying on ignorance and stupidity. got that. that was last week's story. she went flat out there and said four years ago, as a former
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employer, she was told not to go on the air with criticisms of the obamacare map. she had said that it does not add up. she was called into management and told to shut up. let's take a quick right here from melissa france this. melissa: when i was at cnbc, i pointed out to my viewers that the mass of obamacare simply did not work. not the politics, by the way, just the simple math. when i did that, i was silenced. i pointed out that it simply could not be true that if you like your plan, you could keep it. as a result of what i said at cnbc, i was called into management where i was told that i was "disrespecting the office
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of the president" by telling what turned out to be the absolute this truth. do not trust the other guys. they are willing participants in the campaign to keep the economic truth from you. do not let them do it. stuart: well said, melissa. well said in the. you can join her at 2:00 o'clock this afternoon where she has bill o'reilly on the show to back up that point. essentially, the media conducted a cover-up campaign. they lied to us and then the media conveniently covered up the lies. what a disgrace. we have to dow jones industrial average up 23 points. where are we going? check these out.
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that will be here for you now -- and down the road. i have a lifetime of experience. so i know how important that is. stuart: you could say that this is a rather unusual sight in. the next guest makes his money by selling real life action figures. let me explain this. we have some dolls here. this gentleman cells those dolls. they are replicates of real-life people. he will tell us how much they cost and which ones sell the most. the one right next to you is sarah palin. >> the number one seller of all time. she is way past 25,000. she is just a phenomenon.
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stuart: how much? >> i think she was 27.95. stuart: over 25,000. >> yes. she continues to sell. slow now, but superfast when she came out. what is your production cost? >> it is actually pretty high. stuart: tell me. >> it is so high. probably more than 60% of the actual cost. stuart: you can't get them made cheaper in china? >> you can. i am and american. everything that we make is made mostly in america.
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stuart: the middle one is kaci hickox. the ebola nurse. she did not sell well. >> she is grand new. why is she missing an eye? >> that is an eye patch. she is a little bruised, but still standing. she is 29.95. stuart: here is my favorite. put him on camera. nobody will know who this guy is. >> we do. stuart: how many of these guys have you sold? >> he almost collapsed the organization at the time.
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within 12 hours, we did close to a half million dollars of product. i am surprised that the website held up. it does not hold up that well now. i was in shock. stuart: there is one right next to you that looks particularly indecent. she is 3995. why did you price it so much higher than your others? [laughter] >> they are made in oxford, connecticut. stuart: they manufacture things in connecticut? >> perez is in connecticut.
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melissa and doug is in connecticut. what else? it is a nice cozy business. stuart: congratulation. good luck. we have to get back to the markets real fast out. facebook planning to take on linkedin and microsoft. >> 74.30 team at the moment. the idea that it has been rumored for a long time that they spoke with the moving forward. it would be free of charge. somehow incorporating workplace
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collaboration. the stock has had a year. right now it is down about 1% at the moment. i was just checking on the bloomberg listing there. overwhelming. 83%. you recently had a lot of people as big levers. 300 million users. certainly a lot. stuart: we did promise you john taff four. he got stuck in traffic. we apologize. more varney in a moment. ♪
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world. stuart: that was jumbled and take on our relationship with canada. deirdre bolton is here. deirdre: thank you very much. the world's third-largest economy on the ropes skid we will give you a short list of implications for u.s. investors did the editor of the widely followed and respected interest rate observer giving us his thoughts on japan, china's they deal with australia and gold. bangs bolstering the cyber scaredy budget by a projected $2 billion. former top legal from the nsa shares his perspective. speaking of cyber, facebook taking on linkedin with a new facebook at work. the economy contracted 1.6% from the third quarter in japan. sales tax increase's slowed spending. third-quarter attraction follows
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