Skip to main content

tv   Varney Company  FOX Business  June 5, 2015 9:00am-12:01pm EDT

9:00 am
"mornings with maria." great job everybody. [applause] take a bow. i will see you on sunday on "sunday morning futures" on the fox news channel. stay with the fox business network. "varney & company" next. lots of analysis to come on the markets and this report. have a great show. stuart: thank you, maria to you too. hello, good morning, everyone. they will tell you it is a good jobs report. well, is it? the unemployment rate went up. real unemployment rate stayed well into double digits. participation in the work place stayed at generational lows. however one bright spot, wages did go up. is there any information on any of us that china or russia doesn't have? beijing just got info on four million federal workers. what will they do with it. are we going to hack them. greeneys, they are besides themselves. the epa says fracking doesn't hurt your drinking water. and they say, it's a great help to the economy. the greenies are fuming. we'll have both sides of the
9:01 am
debate. i promise you we will. the fda gives a preliminary yes to viagra for women. i think that is a little pill. it is friday, everybody. "varney & company" is about to begin. ♪ stuart: who sings that? working for a living. huey lewis and the news. working for a living indeed. last day of the new week, big day for your money and economy. the jobs report came out. we have the whole lot for you and more. look at this. big names on the show. they know a thing or two about working for a living. kimberly guilfoyle "the five." the larry thomas, played the soup nazi on "seinfeld." bar rescue's jon taffer.
9:02 am
that is 11:00 hour. you have to wait a couple hours. in a couple minutes, ambassador john bolton, boy he is not happy about the china hack. what will they do with all the info they stole? in 10:00 hour, even mall all ocho, philadelphia eagles linebacker. i want to know how many people he thinks will watch the bills and jaguars live stream on yahoo!. what do you think, ash? >> what do you mean? stuart: not many. >> not many. leave it at that. stuart: let's get cracking. arcry webster with us. tammy bruce. look at that he couldn't stay away. charles payne. i'm told, he is cute, isn't he? i'm told he will pound the table on the jobs report. i'm not so sure about that. let's give you the numbers. 280,000 jobs. yes, work created and added in month of may. 280,000 number. good number. participation rate, no change there, 62.9%. that stays at generational lows.
9:03 am
charles, we going to have a fight? do you think this is a strong jobs report? >> in context of what we've been experiencing it's a strong report. the street was bracing for number around 200,000. so significantly higher than that. i happen to be happy that people are coming back into the workforce almost 400,000 people. now some of that is because they think jobs are out there. many so of that because their unemployment ran out. anyway they're hitting breaks. -- bricks. 1.3 million they attribute unemployment benefits ran out they had to look for jobs. stuart: okay. >> hard for people not in the financial area to understand that. you cut off someone's money -- >> good motivator. stuart: 397,000 people came back into the workforce. they couldn't find jobs. that is why unemployment rate ran up to five. >> right. stuart: tammy, i think this is same ol' same ol'. that is not good enough. we should be doing a whole lot
9:04 am
better than that. >> in order to be static we have so start with 150,000 to stay even. then you have to consider what kinds of jobs are they getting right? part-time jobs. it is hospitality sector. it is retail sector. you're looking at that kind of dynamic. it is people who must have a little bit of money coming in. these are not, these aren't jobs that indicate that the american career is returning, that the future is returning for these families. stuart: no. >> it is really stopgap. stuart: okay. >> i like the wage growth, you mentioned that, up 2.3% over the past 12 months. stuart: is not much. >> no, but it's a good sign. let's leave it at that. stuart: but the truth at 2.3% higher wages year-over-year only keeping up with inflation. >> you're managing it. >> what i like this report and last report, professional jobs pro-business jobs last month was 63,000 a month. before that was 62,000. we do have an economy if you have really strong skills like
9:05 am
business, science engineering there are plenty of jobs out there. we're bringing in foreigners for some of these jobs. to your point, stuart, this recession overall, 10 million jobs so far is nothing compared to past recessions. '61 six at this nine recession. 17 million jobs. 75-80. 14 million. 82-90. 24 million. to compared to history this the is worst postrecession recovery in history. why if it bounce as little bit i see glimmer of hope we hang on for another two years. stuart: you are hedging like crazy. >> i'm trying to do something, listen you spun me off. >> journey of low expectations. you suddenly wake up in the morning when the bar is low. stuart: how did the market take all of this? look at dow futures, down 60 odd points as we speak. maybe the market thinks it's a fairly strong report so fed will go and raise rates.
9:06 am
>> correct. stuart: have we got available, look at interest rates? we should. let's do gold first. price of gold five-week low. i don't know whether it went up or down. it went down because of this report. >> that's right. stuart: $9 an ounce. let me get to the interest rate situation because that's very interesting. as soon as that report came out investors bought the notion, like charles that it was a strong report. so interest rates went straight up to 2.44. now we're back down a bit. they're agreeing with me. 2.04%. bottom line rates up on this jobs report. >> there is a lot of factors involved in that not just the jobs report. we were suits up like crazy. they were artificially low to begin with. stuart: i think we're in agreement. >> lagarde was saying earlier i heard today own fox business, maybe it is kind of good to have a little bit of inflation. there is a lot of interesting aspects with what you can do with rates and keep them steady and deal with inflation and that
9:07 am
is not assed ba. there still seems to be a lot of intense micromanaging because nobody really has any security about this naturally recovering and being able to be any kind of -- >> would be great if everyone moved out of the way. stuart: oh, stop it. i do want to get to massive data breach, when i say massive i mean massive. maybe four million federal workers compromises. hackers in china believed to be behind this. any idea what china would do with the personal information of four million federal workers? >> those were security clearance could be impersonated or blackmailed for their sensitive information that they have access to. very troubling. as you say, nearly four million. they called it a cyber intrusion. my god if there is ever an understatement. stuart: i think biggest breach of government security, in terms of personal information. >> yep. stuart: ever. four million. >> speaks to the issue of special clearances which is the
9:08 am
section that they actually attacked. you're looking getting information, personal detailed information, social security numbers family information, that kind of stuff, which could help you break into other computers yes impersonate and even blackmail depending what kind of information is in the files. stuart: couple minutes from now, former u.n. ambassador john bolton will be with us. my question for him will we hack them back? >> i would hope so. stuart: you never know. he knows what goes on behind the scenes here. i have breaking news for you. magnitude 5.9 earthquake has hit malaysia. 11 climbers on southeast asia's highest peak reportedly injured. 130 people stranded. 5.9, the magnitude of the quake that hit malaysia. look at oil, epa says, we really love this. >> you have no opinion of course. mr. varney. stuart: moi? totally down the middle. the epa says fracking down cause widespread harm to drinking water. >> shocker.
9:09 am
stuart: this coming from the epa that is shocker. >> what we saw earlier was a pig flying by the window. everyone here was astounded. it was epa pig. stuart: california new york maryland, they banned fracking. are they going to change with this. >> no as long as hollywood actors say it causes oil going into the water system that is, you know forget about the hundreds of thousands of jobs, billions of dollars in tax revenue, forget about that okay. as long some b level actor in hollywood that this harms your dranking water forget the epa. >> this is the fourth time that the administration tried to make the point fracking contaminates drinking water. they are 0-4. stuart: see the demonstrators. they don't want to quit. we have anti-fracker. >> the report said this is all possible but ultimately they had to say well, it is not happening. had to admit. stuart: we've been dragging on
9:10 am
here. this information has -- conversation has been far too lightly. lauren headlines, if case you missed it. >> i have them right here. bird flu is having surprising effect in san antonio texas. the supermarket atb rationing how many eggs you can buy. effort to stop restaurant establishments from scooping up all the eggs to make sure families have the once that need them. two cartons per trip. down in maryland governor larry hogan as big idea for baltimore. after taking a ride on japan's maglev train, short for magnetic levitation. the governor decided that future of transportation. the multibillion-dollar price tag is no reason to not consider it. stuart: this guy is republican. he is republican. >> you can get to baltimore to d.c. 15 minutes. private money would be better. stuart: are we done? >> we are.
9:11 am
stuart: called viagra for women has passed first heard dull at the fda. there are still safety concerns. tammy, i suspect, i don't know your opinion in advance i think that would be a blockbuster if it ever makes it on the market. >> refused three previous times by the fda. there has been, pharma company put a lot of money into organizations. room filled with activist groups to pressure them. they admitted there is not a great deal of impact this drug will have but they felt there was some, they should do it. that is not the way to approve drugs. >> no. >> there are some requirements whether you're in good relationship or not i think a -- stuart: requirement you have to be in a good relationship before you get pill? >> it, strangest thing in the world. that is exactly the question. if you're not in a relationship if you have to be in relationship you're not under pressure who will make that determination? stuart: last word, charles. >> if all goes well this drug women will have one extra day a
9:12 am
month of satisfying sexual relationships. [laughter] stuart: that is pregnant pause. >> they estimate if it is successful over two billion a year in sales. let's put money. huge if. >> ultimately maybe excedrin. >> how about a shot of tequila? >> a shot of tequila and excedrin. stuart: you are wicked. >> get in the right relationship. >> you're such romantic charles. stuart: are you with us monday morning? i hope. personal data exposed. we told you about it. nearly. china was behind it. ambassador bolton on this. the pursuit of healthier. it begins from the second we're born. after all, healthier doesn't happen all by itself. it needs to be earned... every day...
9:13 am
using wellness to keep away illness... and believing that a single life can be made better by millions of others. healthier takes somebody who can power modern health care... by connecting every single part of it. for as the world keeps on searching for healthier... we're here to make healthier happen. optum. healthier is here.
9:14 am
9:15 am
stuart: i want to update several news stories for you. look at this "fox news poll." 66%, two out of three, support whatever it takes to defeat islamic extremists, i repeat two out of three. now this isis captures 2300
9:16 am
humvees and a whole lot more just as the u.s. plans to send iraq more weapons. at least four million federal employees have their personal information exposed in a big hack. looks like china did it. joining us from washington, ambassador john bolton. ambassador you know what goes on behind the scenes here. do you think we'll hack them back and show them what we can do? is that likely? >> well i think we should but i think there has to be a much bigger strategic analysis here. i don't think the president has paid adequate attention to the cyber threat either on defense or offense. he ought to be leading nation in discussion of this new threat which has enormous potential implications. yet he barely talks bit. just think back to the north korean attack on sony. where apparently we did retaliate. this was an important opportunity to engage people in what is going to be a difficult conversation about protecting our infrastructure our communications and technology.
9:17 am
he is just abs send from the battlefield. stuart: you know what goes on behind the scenes, a u.n. ambassador from the united states. what is this information likely to be used for? me total outsider, first thing i think of is blackmail for espionage? what do you say? >> in in fact the chinese taken out information on four million federal employees they know more now than the federal government itself does about the workforce, who is in critical positions. what their backgrounds are. how that can be exploited. and potentially have access to even more sensitive information so it is an enormous theft by the chinese. we don't know what they may have left behind to explode figuratively in the i.t. world at a later date. but i think what is really at work here is another episode of chinese probing of american will power. they have been at this for a
9:18 am
long time not just the federal government i just don't mean china. they have hacked into the information technology systems of america's top 1000 corporations. in response, what have we done? very very little. we're behind. we need to catch up. neither china, north korea, iran russia, does this in the future. stuart: what do you think we should do? if we were in position of authority and you had the power to do it, would you hack them back on demonstration what you can do? >> absolutely. not because i want to get into an escalating conflict with china or anybody else. i want them to know, they will pay a greater price than they have imposed on us when they tried this kind of thing. that is how deterrents works. you need to do it in systemic strategic way. i don't see the president talking about it. i think nsa people who are in charge of cybersecurity are doing the best they can, but i don't think this has priority
9:19 am
for the president. we can be heard in ways data hack sounds bad. it is bad. imagine an information technology attack that turns off our power systems disables our electricity on and on and on. stuart: doesn't seem to stop. there are daily reports this corporation hack this retail operation. hold on one second. did we get another report? who was hacked in new york? who was that, ashley? >> etaly popular restaurant in new york. credit card system completely hacked. warning to the customers. stuart: minor league stuff but another one. >> to your point, a daily event. stuart: ambassador doesn't seem like this is going away. obviously it is not going away. do you think we're moving toward the big one, the big hack? shuts down the grid or something? do you think that's likely? >> i think it is possible. i think if i were a terrorist organization like isis or al qaeda or adversary of the united states like north korea or iran i would sure be looking for things to do that could
9:20 am
cause enormous disruption as we get more integrated in terms of communic technology. smaller and smaller attacks can cause more and more damage. so unless we think about this and talk about it strategically as a country we're simply at greater risk every day. stuart: i think we have to retaliate, show them what we can do that. is person until opinion. am boos door john bolton. appreciate it. >> thank you, stuart. stuart: everybody, guys especially listen up this is not how to propose to your girlfriend. watch this. >> [inaudible] >> will you mary me? stuart: coming up, we will show you how she responded. sandra smith had an opinion on this. watch out. here she comes.
9:21 am
9:22 am
9:23 am
9:24 am
stuart: let's have the outcome of this shall we? we showed you before the break, a man tries proposing to his girlfriend with a mcdonald's chicken sandwich.
9:25 am
here is the response. >> yes, i will marry you. chicken sandwich? [laughter] oh god. >> look at stuart's face. >> what did she say? stuart: was she laughing or crying? she was laughing, no. i can't marry you. >> should have given her a quarter-pounder. stuart: would have made all the difference. or fries. >> what is going on there? stuart: what is your opinion on gimmicky proposals? >> i am happy with anybody who commits to marriage and wants to be married, that is a great thing. i don't think it works. it has be in private. >> cheesy. stuart: i don't agree with underwater marriages. thanks very much, sandra. stay with us. up next we're covering two bells that matter. of course the opening bell on the stock market. we have the belmont stakes on
9:26 am
saturday. will we get the first triple crown winner since 1978? i sure hope so. >> nope? stuart: nope? get out of here. ♪ ♪ ♪ (singing) you wouldn't haul a load without checking your clearance. so why would you invest without checking brokercheck? check your broker with brokercheck. when a moment spontaneously turns romantic why pause to take a pill? and why stop what you're doing to find a bathroom? cialis for daily use, is the only daily tablet
9:27 am
approved to treat erectile dysfunction so you can be ready anytime the moment is right. plus cialis treats the frustrating urinary symptoms of bph, like needing to go frequently, day or night. tell your doctor about all your medical conditions and medicines, and ask if your heart is healthy enough for sex. do not take cialis if you take nitrates for chest pain as it may cause an unsafe drop in blood pressure. do not drink alcohol in excess. side effects may include headache, upset stomach, delayed backache or muscle ache. to avoid long-term injury, get medical help right away for an erection lasting more than four hours. if you have any sudden decrease or loss in hearing or vision or any symptoms of an allergic reaction stop taking cialis and get medical help right away. ask your doctor about cialis for daily use. insurance coverage has expanded nationally and you may now be covered. contact your health plan for the latest information.
9:28 am
9:29 am
>> opening bell about to ring. seconds away. look who is here ashley webster is here.
9:30 am
sandra smith is here. scott shellady in chicago and joining us from the beaches of bermuda. sandra, what do you think of the jobs number. sandra: wage growth key over the past year 2.3%. some call that mild growth in wages. it is growth though. stuart: all right, the bell has rung, in five seconds they'll start trading-- yeah we started, we're down we're expected to go down about 30 points maybe 40 points at the opening bell and we're on our way slightly lower. no big impact from the jobs report, however, i want some comment on it we've got some disagreement. was it a strong jobs report according to charles payne or mediocre, what is it? strong or mediocre? >> i'm going to ride the fence and be a politician. it's a good jobs report, but not great. stuart: how about you, scott? what do you have to say? >> i was going to say a strong
9:31 am
mediocre report. stuart: come on you're all hedging. this is ridiculous. who else have we got. four faces, ashley. ashley: encouraging because the gains were widespread across many industries. does that count? >> i'm going to take over this one and listen carefully layfield and you, scott. the labor participation rate stayed at generational lows. the unemployment rate ticked up. i don't think that's a particularly strong report and by the way john layfield first it's nowhere near as good as it could be if we had different policies. >> there's nothing good out of washington d.c. they're in a presidential cycle already and nothing's going to happen a catalyst to make this go up. the job numbers, the labor participation right. we have a sluggish economy, we're seeing growth which is good, but it's not where it
9:32 am
could be. stuart: it could be so much better, scott, couldn't it if we saw a few different policies out of washington? >> yeah, we get all caught up in what our growth rate is if it's .3 or .4 how much money and the kitchen sink have we thrown at this over five years? we're not reacting that's not my america. washington has been a hindrance and the types of jobs our manufacturing sector is shrinking. it's cut in half since 1990. sandra: i've got news for you, stuart, the market is interpreting this as somewhat positive. even though we're only up 8 points on the dow, the stock market futures were significantly lower. the fact that we're positive knew, the market is-- >> because we have a mediocre measure. >> sandra you're entirely wrong. sandra: all right. stuart: and fireye they got a pop, 3%, but that's a pop
9:33 am
following the big government cyber attack from china. look at under amour, they got an upgrade, and curry, the sneaker company. ashley: a curry bounce. stuart: i think that's true. and some of the financial companies are up at the opening bell, not much 1, 2% apparently in response to the jobs report. i'm not sure of the connection the financials were up. how about the price of oil? no change in production from opec. that's the opec meeting. the price is down a buck at the moment. back to 56. scott shellady iran's oil minister today said when sanctions are lifted obviously he thinks they'll be lifted. they'll put another million bails of oil on the market. is that why oil is down a buck today? >> i think that's 60 to 65 level is difficult to get through because we're going to bring more u.s. production on-line at those levels and our
9:34 am
big guys said they're coming back. allow that quantitative easing money has found its way into the production of oil. as far as iran it's hard to get over the levels of 60 65. and going back to the 40's. >> and epa says that fracking doesn't harm drinking water, i'm i'm not suggesting it could have any impact on the price of oil. >> i think sometime we have a national fracking regulation and decide what is safe with it, and needed so badly. the monterrey shale in california is enough to erase the california debt. you'll see that in places like illinois and california because they're having so much problem with revenue. stuart: one last one for you, the price of gold. close to a five-week low. scott what's the significance? >> no significance. it's telling you that we're really not seeing the inflation come throughment gold is a hedge against armageddon and
9:35 am
inflation. we don't have armageddon and we don't have inflation. i think that gold goes to over a thousand. sandra: the market jobs report was good. the safe haven trade was-- stuart, you told me i was wrong. stuart: making a judgment on the jobs report. make the judgment. sandra: i'm just saying that just as the way the market is reacting, the market's interpreting it as a good jobs report. i wasn't saying i-- i think it's important to point out if people were buying gold leading up to bad news on the economy and gold prices the treasury market is interpreting this as a strong report. stuart: after six years of these economic policies and this recovery the best we can do is 280,000 new jobs. that's absolutely wonderful, that's it? >> oh boy, i'm saying the market is applauding the report. stuart: it's friday, put a smile on your face everybody. john, and scot back to the
9:36 am
beach john. i have a name you know it gap. the sales are down. come in nicole floor of the new york stock exchange. where is the stock. nicole: it's just off the unchanged level. they've been trying to reinvent themselves and got a new ceo. the stock is flat right now because they did not do great. they saw sales drop at the gap. and sales drop at the banana republic. the only bright spot was old navy and that's where we saw it. and the teen retailers zumiez. those teens are fickle down 15%. stuart: that's a hit and a half on a friday morning. nicole: that comes after five below. we talked about that one. stuart: we did indeed. i want to get on the subject, viagra for women. it passed the first hurdle. there are safety concerns and doc segal is here. all right, you're the doctor in the house. safety concerns over women's
9:37 am
viagra. what are they? >> i'm going to make a case for this drug and i'll tell you why. even though there are safety concerns and what they are, things like low blood pressure, blackouts, if you drink alcohol, if you're on birth control pills you're more likely to have blackouts or low blood pressure. guess what? that's my job as a practicing physician to say these are the risks. you can't have that pill. you can have that pill. let's get it on the market and i'll decide whether you should have it or not. the benefit is mild to modest, but the first drug that's treated libido and increases sexually satisfying experiences by one a month. not a lot, not a lot, but something. stuart: do you think that's worth it? if you do a cost benefit analysis, safety concerns versus one an additional nice sexual experience a month, that's okay? >> needs to be decided on a patient by patient basis. let's give the physician an
9:38 am
option. it's not a game changer, but the other one, real viagra for men is about blood flow it's not about sexual desire. ashley: you're changing the brain chemicals, three key brain chemicals are changed with viagra for women as it's called. do we know what the long-term effects of that could be? that sendsg to me that you're changing chemicals in the brain. >> fair point, but we're doing that with every anti-depressant and psychoactive drug changes brain chemistry. that needs to be carefully studied. they've been taking this around since 2010. sandra: that's what i wanted to ask you about. is there a reason why the female version of viagra is so behind that of the male version because men are making the drug? >> i could get lots of things-- >> oh. >> fair i could go further maybe it's because women's health issues aren't treated with the same significance. sandra: i would agree with that. >> is that true. stuart: you put that out there
9:39 am
and immediately it's a war on women. >> and people out there would say it's not a libido drug it's not a viagra. sandra: it's a simple response. if more men are demanding, they'd make it for them. less women are asking for it. >> i am. >> i say approve it. >> you say approve it, right. sandra: i have no opinion. stuart: am i right in saying that sprout pharmaceuticals in raleigh north carolina. ashley: they're run by women, all women. sandra: thank you. that's what i'm saying it finally took women to mange the drug, come on stu, you can't put this out there as a provocative statement. >> i want a medical statement, mild benefit to significant risk are for the physicians to decide. the risks aren't so much it shouldn't be on there.
9:40 am
with a warning, i'm not saying a black box. ashley: could low libido be caused by an underlying never addressed by this drug? >> of course that has to be looked at. extremely important. why does the person has a low libido. stuart: don't forget any time you have a new drug on the market, lawyers come forward and say you have to warn about this and this and this. the things that can go wrong with you are far worse. sandra: you may die. >> there are significant concerns here, but i'd say approve it. it's not that powerful of effect, it's worth trying in some women who are suffering. stuart: thank you for your medical device good to see you. check the big board, we're down, i think this is because interest rates have gone up because of this jobs report. we went to around 2.40%, the
9:41 am
yield on 10-year treasury. that's had a high number. i think i'm right in saying that's what a six-month high? for the yield on the 10-year, the highest this year. stuart: now we're falling down down 71 points. let's see where we end. we told you about this and we'll have more on it the epa says that fracking widespread harm to drinking water. we'll be back in one moment.
9:42 am
9:43 am
right now, the unthinkable is happening. faithful christians are being kidnapped, tourtured, beheaded and crucified simply because they are christians. this is genocide and it won't stop unless we do something about it. at the aclj, we are the frontlines in washington at the un, and in the region advocating for those who cannot defend themselves.
9:44 am
but we cannot do it alone, we need your support and we need it now. go to aclj.org right now and help us fight to restore christians to their homes and families. the aclj has the global resources to engage the decision makers fight against persecution, and protect the faithful christians in these regions. with every passing minute the threat against christians grows and intensifies. we need your help to get our leaders to understand that christians overseas are under attack and need our help. you can help the aclj stop the senseless and evil persecution. call the number on your screen or go to aclj.org >> for three, puts it in. he doesn't miss. stuart: warriors over
9:45 am
cleveland. winning by 8 in overtime. despite 44 points from lebron james despite that. check the big board. we're down not that much. we're down 64 points. goldman sachs though and j.p. morgan, they lead the dow. both of those financial companies are hitting new highs and goldman turned a fraction lower just a moment ago. back to one of the big stories of the day. the epa says fracking does not hurt drinking water. not everybody is on board with this. this is what biologist sandra steingraver had to say, fracking is the deadly enabler that keeps the fossil fuel party going far past the time of its curfew. she joins us now from ithaca new york. welcome to the program, it's good to have you with us. >> thank you, stuart. stuart: now, that statement which we took off your website implies that you don't want fossil fuels period and you will use just about any excuse to go after fracking. is that the case?
9:46 am
>> well stuart the statement that you began our conversation with isn't true. the epa study in fact beyond the headlines. stuart: can i hold you up? i'll quote completely. they said we did not find evidence that these mechanisms fracking, have led to widespread systemic impacts on drinking water resources in the united states. >> okay. well, that's different than saying they haven't find harm. they did find harm. what they said was widespread and systemic. they found multi-time instances of drinking water contaminated by fracking well casing failures, wells that were interconnected and allowed fracking fluids to travel through unseen cracks and
9:47 am
fissures in underground strata and get into drinking water nearby. my point of view as an economy, this is serious. stuart: you would not want new york state to allow fracking would you? >> new york state has made a wise decision to ban fracking. it looked not only or e about. a, but the state of new york went one step further-- >> your university look wait a minute, your university you live and work in new york state. i believe your university is supported by new york state tax funds. new york has an opportunity to get the gas and oil below our territory. the epa comes out and says we don't have this has a widespread impact on drinking water and you still oppose it. you won't let new york state go get some of this that's available.
9:48 am
>> stuart, contaminated by fracking did-- >> you're not talking about widespread problems. if they were talking widespread. the epa would like nothing more than to ban fracking. but their headline there's no widespread impact. >> if you had a toothache, would you make it to be widespread before you take an antibiotic. stuart: that's not a genuine analysis. we're talking about going after resources which your ours. >> this is early detection. when chemicals go through drinking water, when they fall through the soil like a falling curtain of chemicals, it takes a long time for the chemicals to reach the drinking water. the fact that the study has found cases of drinking water contamination means that we have to take this seriously. all drinking water is connected ground water, surface water. what can start as one contamination in one well can become con tal nation in an
9:49 am
aquifer. stuart: why isn't that headlines? >> it's happening now we're not looking into the past. stuart: why wasn't there a headline. >> any contamination is serious. stuart: wait a minute, any contamination is serious therefore ban the process. why wasn't what you're saying the headline of the epa report? why wasn't it? >> i'm talking to you about what the data says. stuart: says there's no evidence that it contaminates drinking water. >> what the data actually show in this report is that water has been contaminated by fracking. prior to this report the industry has said there has never been a case of drinking water contamination caused by fracking. this report gives the industry very little room now to wave the no proof flag. we can't move the goal post and say first there's no evidence and now it's not widespread evidence. this is a sign of serious public health. stuart: you'll go to court? you'll go to court? >> i'm a biologist and a cancer survivor. let me talk personally.
9:50 am
i had bladder cancer when i was 20 and grew up in a town with contaminated water. i'm going in for a renal scan and i'm battling this 30 years later. and we can do better than this in the united states. stuart: we appreciate you coming on. you're welcome. stuart: mcdonald's closing up stores in san francisco. why is that? because the rent is too high. deal with it after this.
9:51 am
9:52 am
you're driving along, having a perfectly nice day, when out of nowhere a pick-up truck slams into your brand new car. one second it wasn't there and the next second... boom! you've had your first accident. now you have to make your first claim. so you talk to your insurance company and... boom! you're blindsided for a second time. they won't give you enough money to replace your brand new car. don't those people know you're already shaken up? liberty mutual's new car replacement will pay for the entire value of your car plus depreciation. call and for drivers with accident forgiveness, liberty mutual won't raise your rates due to your first accident. switch to liberty mutual insurance and you could save up to $423 dollars. call liberty mutual for a free quote today at see car
9:53 am
insurance in a whole new light. liberty mutual insurance.
9:54 am
>> how about this for a headline, mcdonald's is leaving san francisco. ashley, have they got a reason? >> americans can't afford to live there and apparently neither can mcdonald's. the rent is too damn high. and they banned happy meals and took aim at the horrible corporate mcdonald's franchise and everything with it. it turns out it's the unaffordable property values of california and turning their land into condos developments. that's the highest land value. stuart: makes economic sense. they see the $15 minimum per
9:55 am
hour coming down the pipe. ashley: they're out of there. three already have shut down. stuart: is that right? i remember the mcdonald's next to golden gate park. ashley: that's one of them they're shutting down. stuart: that's on the haight. ashley: the original restaurant for dirty harry movie when he says go ahead and make my day, punk. stuart: i took my first ever driving test from the parking lot of mcdonald's on the golden gate park. ashley: hopefully you went down the right-hand side of the road. stuart: i passed. didn't pass anybody. ashley: in haight ashbury, smoke coming out of the windows. stuart: the belmont stakes is tomorrow. american fair pharoah. ashley: this horse is amazing, i want it to happen.
9:56 am
i'm looking at a horse keen ice 20-1 great long distance runner. stuart: are you a betting man? >> we're english, i bet on anything. keen eye 18-1 coming into it. stuart: they're putting money in it. ashley: it's worth a flatter. stuart: you're a punter and you're having a flutter if you place a bet. ashley: that's right. stuart: what's the other one. ashley: i think i only fluttered. stuart: all right. and by way, in thehour johnnie abelo runs the sports book in vegas, all the horses and all the odds are coming up. headlines isis showing off all of those weapons that they took from the iraqis. by the way, that's equipment that we sent them over 2000 humvees. they've got them. we will have the full story at 10:00. we have nfl screening and what's probably going to be a low interest game on yahoo! the
9:57 am
bills versus-- and the second hour of "varney & company" two minutes away. ed is "what is it that we can do that is impactful?" what the cloud enables is computing to empower cancer researchers. it used to take two weeks to sequence and analyze a genome; with the microsoft cloud we can analyze 100 per day. whatever i can do to help compute a cure for cancer, that's what i'd like to do.
9:58 am
9:59 am
>> here is what's new in our second hour of "varney & company." number one isis. not only expanding the middle east, but doing it with our weapons and equipment. the terror group now showing off their american-made supplies in a new video. you don't believe how much they got from us. here is a jobs day story for you. we have a man who says machines are destroying more jobs than they create. and get this a new car service you dial it up to take your children to their activities when you're too busy. look who is here. philadelphia eagles linebacker archer joins us to talk basketball, what? the second hour of "varney & company" starts right now. ♪
10:00 am
first this a massive data breach that compromised the personal information of at least 4 million workers. chinese hackers are believed to be behind it. last hour ambassador john bolten said this. >> well if in fact the chinese have taken out information on 4 million federal employees, they know more now than probably the federal government itself does about its work force, who is in critical positions, what their backgrounds are, how that can be exploited, and potentially have access to even more sensitive information. stuart: all right, you heard that and now paul conway former chief of staff of personnel management, the agency whose systems were raided. real fast paul what do you make of this? >> i tell you what, china is executing a strategy that exploits us on our infrastructure and our key assets and that includes human personnel. the biggest risk what other information does china have that they've successfully hacked that you can aggregate
10:01 am
with the new data to identify sensitive frlederal locations and training for those people for decades to come. if you have people early in their career you have a key intelligence asset that you can keep using. >> through that office you used to work with and in have they got access to people with security clearances their personal information as well? >> technically that security clearance information would ride on a different system, but that's the system that was hacked several months ago, again allegedly by china. what you do have you do have the locations of federal agencies, the types of people that are there and you have a searchable data base now for the special skills needed for continuity of government for economics and agriculture and everything else. a huge data braecheach. stuart: stay there. we're moving on to isis. a new fox news poll.
10:02 am
66% say do whatever it takes. ashley webster is here and isis showing off like this they got 2,300 humvees. ashley: bought by the american taxpayers and displayed by isis fighters, 2300 humvees, 40 battle tanks, 74,000 machine guns. 50 plus howitzer gun systems, weapons left behind by fleeing iraqi fighters backed by the u.s. with the weaponry by mosul and ramadi. they literally turn and run and leave the equipment behind is then picked up. 2300 hummed vee. ashley: armored humvees. and battle tanks. top of the line. ashley: yeah they got them. sandra: isn't this more reason we should go there and wipe them out liz: they're armed better than
10:03 am
the people. that's why they're taking over the land. stuart: you can reach that conclusion i'm astonished at the volume of equipment. ashley: the estimate is $220 million worth just like that liz: that's a lot. stuart: moving on. take a look at the dow jones industrial average which is reacting actually it's not reacting at all to the jobs numbers. we're up five points i'd call that a dead flat market. again this is supposed to be a response to the jobs report. i'm not sure why financials are going up, but they are. the price of goal,1164 an ounce the low s since march 19th down ten bucks. this is why this may be impacts on the markets from the jobs report. interest rates went straight up. at one point this morning we were at 2.44 on the 10-year treasury and we've backed off
10:04 am
to 10.40. that's the highest so far this year. we've been dancing around the subject. let's get to the jobs report. 280,000 new jobs added in may. paul conway come back. the former chief of staff to the labor department. i want your take on the jobs report. let me fill you in on the background i say mediocre at best. you know me. [laughter] i say we've got a policy problem in washington we should be doing much better. some people say that 280,000 new jobs is a strong report. what does paul conway say? >> i think it's a weak report. america's got the capacity to do better and we've talked about this. how many americans dropped out of the work force and do you have a robust economy that pulls people off the side line. >> an interesting fact here aarp, no conservative organization, did a survey of workers in the past five years, 45 to 70 who lost their jobs. and only half of them have come
10:05 am
back to work and those who have come back to work, only half of actually making the same money they have before. what that's an indication of you're not restoring the jobs especially for senior levels. so i think it's pathetic i think it's far less than what we could do and i think if the white house is going to claim, this is great. they're ignoring people on the signed lines and the u-6 number is 16 million people. >> that statement of yours, this is pathetic that will live on videotape for a long time to come. i think you just settled the argument, young man, just flat-out settled it. you're on my side you'll agree. >> paul, good stuff. >> you're welcome. stuart: check out wal-mart please. the company is testing robot baggers. in the u.k. that's britain. it's for on-line orders. the robots bag the items as the orders come in launched a week ago and if it proves successful it will be replicated.
10:06 am
that leads us to our next guest the author of the book "a dangerous master", how to keep technology from slipping beyond our control. since we've reached the tippingpoint where technology is actually destroying more jobs than it creates. welcome to the program. >> thank you very much. stuart: i've got the book not a chance to read it yet. >> it's only been out a few days. stuart: you say we've reached the tippingpoint. robots reached sophistication where they're replacing human jobs. >> at a rapid rate. 47% of human jobs in the u.s. are vulnerable over the next decade or decade and a half. stuart: let me repeat that. 10 to 15 years, look down the road that strength of time and up to half the jobs that humans now do could be done by a robot in that time frame? >> that's according to this one study done by frey and osborn. and furthermore in china, with
10:07 am
2.4 million workers, there's a director of economic development who's leading the move to replace 50% of those workers with robots. stuart: oh wow. when i say robots when i use that expression robot, like r2-d2 buzzing the floor. >> no we're talking any kind of machine. sometimes-- the 47% figure is actually about computerization. so that's not necessarily a mechanical machine either. no we're talking about any kind of device that could replace or do the tasks that a human is doing. stuart: i always think that robots had replace manual labor. you don't need to sweep up the floor of the factory or weld that nut in place. you're talking about them replacing white collar jobs. >> they can be replacing both. and they're being used in medical care and legal services and the request he is whether
10:08 am
they're actually going to replace the workers or be combined together with the workers for new concept capacities and new jobs. stuart: is this. ashley: is it based on efficiency, the robot doesn't need a vacation or health insurance or basically continues to work at the same level consistently and from a business's point of view just makes sense, it can reduce manufacturing costs, it can do a whole lot to build up the bottom line? >> efficiency is clearly the main driver of this, but it's not just efficiency. in some situations the robots truly do do a better job or at least augment the human work. >> white collar jobs that's amazing. stuart: you're painting a bleak picture. who's going to work? that's a problem. >> the people making the robots, the software coders and-- >> i'm certainly not fighting for the robots and i'm not painting this picture because i think it's a nice picture. in fact a very intent of my
10:09 am
book "a dangerous master" is to paint pictures about many different technologies that have downsides, societal impacts that we need to pay attention to now. ashley: what's the biggest danger in your opinion? >> i think that technological unemployment is immediately the biggest danger yes. stuart: okay sir. wendell a dangerous master. >> technological unemployment is only a tiny slice of the book. there are a vast array of different dangers, risks we have to weigh against the benefits and benefits are tremendous tremendous. stuart: this is a halfway serious questions. do you think that i could be replaced by a robot? >> no i don't. i don't, and i don't think most really skilled workers will be replaced. stuart: excellent, cut it right there. a great book one great book let me telling you. [laughter]
10:10 am
seriously, thank you very much indeed. thank you. more headlines, here we go. lauren simonetti. >> thank you very much stuart. well, channel trendy markets, all natural and craft beer with the fountain soda called stubborn soda. they're coming in exotic flavors orange hibiscus and with tarregon. customers choose water, beverages, and put a soda in front of a kid and they're like, what's that? can you say eggs three cartons of eggs they're limiting egg purchases because they're having trouble getting eggs and don't want the businesses to take all of them. bird flu affected 45 million birds across the states. the wholesale price of large
10:11 am
eggs doubling to $2.40 a dozen and even restaurants like what a burger is cutting back on breakfast as a result. and another study is saying facebook is going through depression. folks can become addicted to facebook. if they're able to make themselves look cooler on-line and could affect one's capacity for a real relationship. that's a no-brainer. stuart: it is, that's a no-brainer? >> i think so. some people create these personas on-line that are just not really who they are and they love their cool on-line. stuart: what's my persona on-line? >> you don't have one. stuart: no i don't have facebook, that's right. a great report there, lauren. >> thank you very much. am i going to keep my job or replace me by a robot. stuart: he says you cannot replace you or i. >> thank you very much. stuart: he's still here by the way. the epa, boy, did they infewer yacht greenies everywhere with
10:12 am
a report that fracturing does not pollute drinking water and some want to get out there and frack till the cows come home and yahoo! live streaming a regular nfl game. who is going to watch? well, emanuel acho is next. ♪
10:13 am
10:14 am
10:15 am
>> check out this board. despite is being jobs friday that's virtually a dead flat market. 17, 890 is where we are. price of gold that's gone down. down $7 now, that's the lowest since mid march. how about the price of oil? moments ago it went higher. now it's dead flat 57.99. remember, there's that opec conference going on over there. yahoo! i should say will stream
10:16 am
a nfl regular season game this year. the first one is the jacksonville jaguars versus the buffalo bills. did i read this right? stop yawning. it's the jaguars versus the bills and it's played in london on october the 25th and streamed on yahoo!. look who is here. he joins us insists on coming every friday morning. >> do i now? >> daniel acho a linebacker. >> linebacker for the philadelphia eagles. stuart: you cream people, that's what you do. >> that's what i try to do. could there be more aggression? >> if i saw you on there, i'd try to take you. stuart: who is going to watch a game between the bills and who is the other one. >> jacksonville. stuart: jacksonville jaguars and the bills? who is going to watch on yahoo!? who is going to watch that on one of these little things? >> i think the bigger point is to try to have a global impact. the game is obviously played in london, again, games have been played in london since 2007. the nfl is trying to expand
10:17 am
outside of the american region and try to have a more global impact. honestly there's no better time for this with fifa with the conspiracy theories going on there and america is going to try to take over with football american. stuart: not a prayer. acho, not a prayer you know that. >> hey, that's the goal and that's the plan to have a bigger global impact. the game will hit in major cities such as china, et cetera. and so they can strike not only within london now. we're going to try to have a major pro team in london in 2020, a young stuart varney would-- >> a young stuart varney? it's never going to happen. deep down you know american football is american. >> it is. stuart: it's totally american. there's nothing more american than american football. you think that these little englishmen are going to go for american football? >> we've got to try. we can't watch soccer dominate
10:18 am
the globe. there's no better time. stuart: i think we should go for cricket. who do you like in the nba finals, the cleveland cavs are playing or golden state. >> cleveland cavaliers at the golden state warriors. i was drafted to cleveland, who do i like? i'm not sure, but cleveland desperately needs a win. one of the most cursed sports cities in all of america. stuart: are they going to win? the mistake by-- >> you would hope that lebron james would pull it off, but after last night with game one, steph curry and the golden state showed up i don't know i hope cleveland. stuart: he scored 44 points. he did, but that's not enough. stuart: isn't that a-- it's a huge score for one player. >> the game actually went into overtime. it's a lot, but obviously, as you know it's a team game. one player clearly can't pull it off. stuart: what are you doing now? it's not the football season. what are you doing?
10:19 am
>> not the season right now. prepping for the season and practicing every day, 8 to 4, monday through thursday. what's the practice run around and get fit or watch videotapes of past games or listen to the coach lecture you? what do you do? >> it's a little more grueling than sitting back and having a casual conversation. stuart: this is a casual conversation? >> no we're-- >> in here for another ten minutes. stuart: we're in the facility around 7:30 every morning and have meetings and go on the field for practice and two hours of weight lifting, another hour of meeting and we round up. that's the off-season schedule. stuart: would you mind if i ask a personal question? >> what's that. stuart: how many calories do you consume. >> to maintain weight i consume 4,000 a day liz: he could eat at red lobster. >> that's to maintain. if i was trying to gain weight probably have to take in 4500 to 5,000 and that's even hard for me. stuart: doesn't a linebacker have to be huge aggressive and 5, 6,000 calories a day?
10:20 am
>> you're supposed to be, but now days the american football game is transitioning much more about speed. i've cut weight over the off season trying to drop body fat. it's no longer running into people, but you have to be able to run and cover people. stuart: how tall are you? >> 6-2 weighing about 240. stuart: is that ideal for a fast linebacker? >> that's kind of the prototype. when they look at guys coming out of the draft 6-1 to 6-3, 245. and now it's how you play when the lights come on. stuart: ladies and gentlemen, the prototypical linebacker. will you deign join us next week? >> i'll dare to. stuart: remember the phrase "no
10:21 am
soup for you"? we have the soup nazi coming up on the next hour. the pursuit of healthier. it begins from the second we're born. after all, healthier doesn't happen all by itself. it needs to be earned... every day... using wellness to keep away illness... and believing that a single life can be made better by millions of others. healthier takes somebody who can power modern health care... by connecting every single part of it. for as the world keeps on searching for healthier... we're here to make healthier happen. optum. healthier is here. new york state is reinventing how we do business by leading the way on tax cuts. we cut the rates on personal income taxes. we enacted the lowest corporate tax rate since 1968. we eliminated the income tax on manufacturers altogether. with startup-ny, qualified businesses that start, expand or relocate to new york state pay no taxes for 10 years.
10:22 am
all to grow our economy and create jobs. see how new york can give your business the opportunity to grow at ny.gov/business usaa makes me feel like i'm a car buying expert in no time at all. there was no stress. it was in and out. if i buy a car through usaa, i know i'm getting a fair price. we realized, okay, this not only could be convenient we could save a lot of money. i was like, wow, if i could save this much, then i could actually maybe upgrade a little bit. and it was just easy.
10:23 am
usaa, they just really make sure that you're well taken care of. usaa car buying service. powered by truecar. online and on the usaa app. just because i'm away from my desk doesn't mean i'm not working. comcast business understands that. their wifi isn't just fast near the router. it's fast in the break room. fast in the conference room. fast in tom's office. fast in other tom's office. fast in the foyer [pronounced foy-yer] or is it foyer [pronounced foy-yay]? fast in the hallway. i feel like i've been here before. switch now and get the fastest wifi everywhere. comcast business. built for business.
10:24 am
>> hi i'm giving you actions to do. stuart: you're looking a little at the ad that won best in show. it honors best ads of the year. that was the winner. held in new york last night. joining us matt miller ceo of the associated independent commercial producers. that was-- >> good morning. stuart: good morning. gallopling gallopling. the winner was that advertising
10:25 am
always. >> an interesting spot. so this looked at you know the fact that girls in their sort of early teens, tween years start to you know lose the perception of what it is to be a girl. so, when they're young girls they think of themselves as people. as they get older, the idea of throw like a girl run like a girl becomes not so confident. so they look at that insight, interview people of different ages and this thing has been on the internet and viewed 80 million times. so much so that procter & gamble decided to cut it into a one minute spot and air it on the super bowl. a feminine hygiene product on the super bowl taking away the show on super bowl. stuart: did it win because of its technical expertise or the brilliance of delivering the message or the fact that it got 80 million views? >> it's a little of both, but i think the insight was amazing and brand bravery and find that insight and trying to change culture. stuart: okay. i want to run a brief clip and
10:26 am
voice over top of it of the derek jeter, i think it's an ad i always remember the tip, the hat tip. was it an ad? it was an ad an integrated campaign. it's the best integrated campaign. if you remember in new york there were billboards and all sorts of different types of executions of it, but it started with this ad with all sorts of sports heroes new york people you see rudy there and michael jordan in there. you see all different people pay respect, even boston red sox fans paying respect to the cap. stuart: and now, what about this one, this is the geico, lots of geico commercials. the one we'll run i think was on youtube primarily, this one. is this the one where the dog jumps on the table and starts to eat the food. is that the one? >> the commercial message in in five seconds because in youtube you have to wait five seconds to skip. so you get the whole message in
10:27 am
and then they make it so engaging, just visually that you don't want to skip it. stuart: if you're watching something on youtube. [laughter] you've got to stay for five seconds. >> and you countdown and skip the ad in and do a countdown, so you get the message in before you can-- and there you go. what's going on here? i don't want to skip this liz: that looks like stuart's dog. >> hang in for 60 seconds and you get the geico ad. stuart: i've never seen that one. that's on youtube? >> and now they've cut it into a shorter version where on tv people skip using dvr's. stuart: it's a freeze frame in the background. >> and you see everybody moving and laughing and eyes moving. they're pretending to freeze frame. >> and the people at the martin agency have done such a great chance. >> looks like dinner at the
10:28 am
varney house. stuart: that does look like my dog. thank you for joining us. entertaining in the extreme, we like that. >> good that's what they do. zest in their brands and invest in their messages. stuart: thank you very much. "varney & company" is coming up with john tapper. he rescued businesses and can you rescue the president's legacy. can he rescue hillary? he has ideas on that and we have john stossel, he'll tell us about the real social justice. watch this. >> those resources. >> there's no greater challenge that this country has than income inequality. >> i believe this is the defining challange of our time.
10:29 am
10:30 am
10:31 am
10:32 am
stuart: check that big board. we had a jobs report earlier, the rate went up no impact on the market. is dead flat. now this. 275 is your national average for regular gasoline as of right now. now says the epa says fracking does not have a widespread negative impact on drinking water. is not bad for drinking water. earlier on this program we had a biologist to disagree with the epa's findings. watch this. >> this is ernie detection. when chemicals go through drinking water when they fall through the soil it takes a long time for those chemicals to reach the drinking water. the fact of this study has already found cases of drinking water contamination means we have to take this very seriously. stuart: joining us now, chris it is obvious from what we just
10:33 am
heard from an anti fracking activists that they are not going to back down. they're going to look fully into this record and find any way they can to stop fracking. do you think because of this epa report says no danger to drinking water you're going to have an easier time when you get out there and try to fracking some place. >> these environmentalists are not going to back down. i would say governor cuomo of new york lifted the fracking band today there's enough evidence to sustain the fact that it is safe. i saw the package with susan earlier, i saw her misinformation and rhetoric from environmentalists, who believe this planet can run from wind and solar when it can. it is about integrity, doing the process correctly. i have the known show before, as humans are doing of process mistakes can be made. that doesn't mean the process is flawed.
10:34 am
she would have you believe and other environmentalists would have you believe that the whole thing is complete the flawed and fracking means drinking chemicals in your water and that is ludicrous. stuart: i want to tell us about an alliance, whether it is a formal alliance an interesting idea between the united states, canada and mexico to produce a lot mole oil. is there such an alliance? >> there's not but i want there to be one. i have been talking about this for a while. okay is losing relevance. you could see from the meeting this morning they have no strategy anymore. is to protect market share the best they can. mexico, canada and america can make their own alliance with 20 million barrels a day, they are only produced in 30. we can transfer technology back and forth these year we can't move employers back-and-forth and combine our interests and we could be another 800 pound gorilla at this table giving
10:35 am
these guys a counterbalance, price manipulation for price management and volatility management and there are legs to this. stuart: oil around $59, $60 a barrel have you gone off fracking because he can't make a profit of $60 a barrel? >> saudi arabia would want you to believe i'm in the middle east and everyone asks you that question the reality is no. they put us through a great exercise, driving cost down doing what three riggs took, now we can do it with two. the shell boom will continue. we had -- it does mean job losses it means our production levels remain flat. a testament to what this industry could do in a short time because last year sally wanted this to come to an end driving the price of $43 and we still persevered and today still drilling fracking right now two wells in west texas, drilling a
10:36 am
third one right now so we are not down and out, we are doing more with less and you have protected market share production numbers are coming up date you have no strategy left of your decisions are to continue doing much ado about nothing and try to protect your production numbers and market share and we continue to gain ground. stuart: thanks for being with us. i have news for you. on a probe into jeep grand cherokees, state regulators investigated complaints that its brakes can come on for no reason and taking a look at 20000 suvs all made in 2014 so far nine people have said the brakes suddenly came on for no reason at all. investigation could lead to a recall. now this. social justice john stossel says it means government is stealing from some people and giving to others and john stossel is with us right now. is that how you define social
10:37 am
justice? john: it is making things more fair redistributing wealth and all that. if i resist that means i am for social injustice. capitalism has made our lives better these people still don't get it and what really gets me talking about venezuela. you talk to this guy about fracking, an alliance between mexico canada and the u.s. price and management, what does that mean did you we don't need an alliance, we just need independent companies. capitalism producing stuff. keep government out. bernard: when you thinould have taken a harder line with my guest, and to test. country government involving price management. i hope not. stuart: let's get back to social justice. john: social justice, and her
10:38 am
failure from social justice, chavez was in love with his people and his country. and recently legislator after chavez's death composes a prayer and gets applause in the legislature. our chavez hallowed be your name lead us not into them temptation of capitalism. stuart: you picked upon sean penn. kind of an easy target. >> you one more? danny glover, a trim man of the people oliver stone a great hero. don king. to see what is happening in venezuela makes me feel good all over. stuart: pretty soon if venezuela is going to default. john: 50% inflation. >> your show tonight is all about social justice nonsense as one might say. >> we debate communists and other people who deeply believed in it, the head of the sociology department at brooklyn college
10:39 am
we have to do more of this communism hasn't been tried. this is what our kids will be taught. stuart: can i watch this? john: you may, move megan, 8:00. stuart: i will watch this one. i want you to debate the guy who wrote the sociology department. i want to see that too. time for the sector report. you are up there on the balcony. >> that is true. i am looking at cybersecurity and your health records. we had a big breach of a government agency yesterday, finding out today fox news reporting a few moments ago that it is believed the chinese are behind both of these and tax. there are companies stocks you can buy that do protect companies.
10:40 am
walton networks is listed above, there is any kiev it tracks cybersecurity companies, just hit a few moments ago an all-time high making money off of cybersecurity and health care records which basically is the new thing to steal the cyberfees, they don't want your credit cards, the when you're mad at -- medical records. >> the of my credit card it is king canceled so many times it is not even funny. get this. the average ceo in this country makes less than $200000 a year. some union people make nearly triple that. we have the numbers for you. it is picasso that wants to drive your children to school when your too busy to do it yourself. they say it is safe. obvious question would you trust your children with a stranger driving them some place.
10:41 am
the real question that needs to be asked is "what is it that we can do that is impactful?" what the cloud enables is computing to empower cancer researchers. it used to take two weeks to sequence and analyze a genome; with the microsoft cloud we can analyze 100 per day. whatever i can do to help compute a cure for cancer, that's what i'd like to do.
10:42 am
if you can't put a feeling into words, why try? at 62,000 brush movements per minute philips sonicare leaves your mouth with a level of clean like you've never felt before. innovation and you. philips sonicare. nicole: i am nicole petallides back and forth action, dow jones industrial average up 31 points 17,936 a gain of 0.2%. the s&p 500 up 5 and the nasdaq up 12. looking at monthly jobs report the labor department saying we headed 280,000 jobs last may and
10:43 am
now use conceive that moved the market back-and-forth, picking up 5.5% from 5.4% and the financials have been leading the way, jpmorgan and all time high, the only dow component to hit a high goldman sachs multi-year high american express a winner is there and aerospatiale gained jumping 4% covering $2. when you look at five your charges stock is over 30 bucks. the ceo buying shares and putting many where his mouth is. more "varney and company" coming up. begins from the second we're born. after all, healthier doesn't happen all by itself. it needs to be earned... every day... from the smallest detail to the boldest leap. healthier means using wellness to keep away illness... knowing a prescription is way more than the pills... and believing that a single life can be made better by millions of others. ♪ ♪
10:44 am
healthier takes somebody who can power modern health care... by connecting every single part of it. realizing cold hard data can inspire warmth and compassion... and that when technology meets expertise... everything is possible. for as long as the world keeps on searching for healthier... we're here to make healthier happen. optum. healthier is here.
10:45 am
>> the friend of the boston bomber sentences three years in prison, he was found guilty of removing items from duggar to one's courtroom including the thumb drives and fireworks he through the items in the trash to hide them from police. that was the offense, 3.5 years in jail for at. hop skip drive a ride sharing company designed to help busy parents get their children where it they need to go when the parents cannot take them. hops could drive ceo and co-founder joanna mcfarland is with us. are we about to get this right? is a ride sharing service busy parents dial up, go on wine
10:46 am
bring in hops get drive, your driver arrives, kids get in the kharkov they go to a play day at school or wherever. is that right? >> that is correct. stuart: first question all of us have asked is why should i let my children get into a car with a total stranger? how do you fix that problem? >> first of all, the company is all mothers and we set out to design a service we thought was safe enough for our own kids and their own kids use hop skip drive. all starts with how we that our drivers with our drivers go through a rigorous 15 point driver's certification process and our drivers are required to have at least five years of child care experience of our drivers are parents teachers and a niece we do vigorous background checks the safest in the industry, we fingerprint our drivers, do driving record checks on a monthly basis do car inspections meet every
10:47 am
driver in person and do in person driver training. stuart: that is what everybody wants to know. as a parent most people in this building and parents, we want to know would you let your children do that and we answer the question. what about price? if i am getting a chauffeur to drive my kids around it can't be cheap, can it? how much? >> our rides range in price from 12 to $20 and the way we look at it this is an alternative to hiring a babysitter or a nanny when what you really need is to get your kid from point a to point be so we had to price in a way that is comparable to that. stuart: when you operate in los angeles but you are trying to spread. i use spreading? >> that is correct. we are operating in los angeles and finalizing our expansion plans as we speak. stuart: it is an apps got to get this right it is an apps.
10:48 am
>> it is an apps. online service. stuart: hip-hop drive. >> hot skip drive. stuart: sigh i will get it right. hawks could drive. you are in los angeles, we can hear your cries of pain all the way here in new york that i got the name wrong. i will never do it again. hops the drive. that is a pretty good commercial. joanna mcfarlane, thank you for being on the show. wish you the best of luck good luck. now this. in new filing reveals more than 160 union chiefs made more than the average ceo. that was in 2014. in private enterprise the average ceo pay is $180700 a year. that is the average for ceos private enterprise liz macdonald is here. i wasn't expecting to hear union guys make more than the average
10:49 am
ceo. liz: i wasn't expecting that fat cat union bosses putting the big in big labor. there is income inequality with these union guys. the head of the president of the food and commercial workers union, the guys to put the inflatable rafts in front of grocery stores, look at this number $573000, that is what this guy makes, his total union pays compensation. the laborers boilersmakers, teamsters a lot of these guys make more than half a million dollars a year. stuart: in fairness the top paid union guys, compared and to the average ceo and there's a difference. liz: the unions forced the jews out of their factory workers and construction workers whereas the ceo is the free congress the free market and no wonder these guys want to unionize, they get more dues to go to their fat cat pay and they have big expense accounts, and it's to hotels they often known unions and
10:50 am
hotels and things like golf resorts. bernard: when you're being very pejorative. liz: i am being -- stuart: when you said fat cats four times. >> because the union guys put out fat cat ceo reports of ceos making 300 times the average worker. stuart: did you say 162 union guys make more in the average ceo? >> according to this report. stuart: that is a fair size number. liz: we did not get into the teachers' unions. >> ruined public education. excuse me thank you. liz: i left you speechless. stuart: apparently so. it has been a full two hours. chinese hackers doing all they can to take your information and calling it one of the biggest cyberattacks of all time. we will cover some more of it.
10:51 am
♪ ♪ ♪ (charge music) you wouldn't hire an organist without hearing them first. charge! so why would you invest without checking brokercheck? check your broker with brokercheck. the world is filled with air. but for people with copd sometimes breathing air can be difficult. if you have copd, ask your doctor about once-daily anoro ellipta. it helps people with copd breathe better for a full 24hours. anoro ellipta is the first fda-approved product containing two long-acting bronchodilators in one inhaler. anoro is not for asthma. anoro contains a type of medicine that increases risk of death in people with asthma. it is not known if this risk is increased in copd. anoro won't replace rescue inhalers
10:52 am
for sudden copd symptoms and should not be used more than once a day. tell your doctor if you have a heart condition, or high blood pressure. tell your doctor if you have glaucoma, prostate or bladder problems, or problems passing urine as anoro may make these problems worse. call your doctor right away if you have worsened breathing chest pain, swelling of your mouth or tongue, problems urinating or eye problems including vision changes or eye pain while taking anoro. nothing can reverse copd. the world is filled with air and anoro is helping people with copd breath air better. get your first prescription free at anoro.com. you pay your car insurance premium like clockwork. month after month. year after year. then one night, you hydroplane into a ditch. yeah... surprise... your insurance company tells you to pay up again.
10:53 am
why pay for insurance if you have to pay even more for using it? if you have liberty mutual deductible fund™ you could pay no deductible at all. sign up to immediately lower your deductible by $100. and keep lowering it $100 annually, until it's gone. then continue to earn that $100 every year. there's no limit to how much you can earn and this savings applies to every vehicle on your policy. call 1-888-438-9061 to learn more. switch to liberty mutual and you could save up to $423. call liberty mutual for a free quote today at 1-888-438-9061 see car insurance in a whole new light. liberty mutual insurance.
10:54 am
10:55 am
>> hackers are suspected of breaking into the government's computer networks in what could be the biggest data breach ever of its kind. blake berman joining us from washington d.c. with the latest. >> one cybersecurity expert told me a while ago this is a complete and absolute disaster. the fallout from this tax might not be over but according to a statement from the office of personnel management which was the target of the attack additional exposures could be revealed in its investigation. it is the government h r a wing that handout clearances which raise questions about the intent of the cyber. hackers from china are believed to be the culprit, chinese spokesman pushing back on that calling the allegations irresponsible and unscientific, sources tell fox the attack appears to have the footprint of those carried out by an asian state. >> thank you very much.
10:56 am
we had a jam packed friday morning. the first full two hours of "varney and company" in the books. here are the highlights in case you missed it two minutes away. >> if all goes well women will have one extra day months of satisfying sexual relationships. >> ultimately and dexedrine. but get in the right relationship. >> it is pathetic far less than we could do at the white house is going to claim this is great they are ignoring the people still on the sidelines and that number is 16 million people. stuart: that statement of yours this is pathetic. that will live on videotape for a long time to come. you just settled the argument, flat out settled it. there's nothing more american than american football. you think those englishmen are going to take over and actually
10:57 am
go for american football? >> we got to try. we can sit and watch soccer dominate the global new jersey no better time the time is now. stuart: i think we should go for cricket actually. ance policy has a number. but not every insurance company understands the life behind it. ♪ those who have served our nation have earned the very best service in return. ♪ usaa. we know what it means to serve. get an auto insurance quote and see why 92% of our members plan to stay for life. you are looking at two airplane fuel gauges. can you spot the difference? no? you can't see that? alright, let's take a look. the one on the right just used 1% less fuel than the one on the left. now, to an airline a 1% difference could save enough fuel to power hundreds of flights around the world. hey, look at that. pyramids. so you see, two things that are exactly
10:58 am
the same have never been more different. ge software. get connected. get insights. get optimized.
10:59 am
11:00 am
. stuart: this was the bombshell delivered by the epa. we did not find any evidence that these mechanisms have led to wide separate systemic impacts on drinking water. they're talking about fracking. the epa demolished the greenest argument abstracting water under ground bad for drinking water. the 1,300 page report gets even better. fracking has quote increased domestic energy supplies and brought economic benefits to many areas of the united states. joy. not only is fracking not bad for the water supply, it's actually good for the economy. it's a bit of a epa didn't
11:01 am
mention energy independents so we could move away from oil from people who want to kill us? but i'll add that one in as a added fracking bonus. so will new york and california now relax their bans on tracked? will president obama jump onboard with the best job creator available to him? will the greens retreat and admit they were flat out wrong? not a prayer. the greens go to court. they always do. governor brown will be scared to death of looking for green votes and president obama still a climate change kind of guy who opposes any and all fossil fuel production. but, you know, there's an election coming. and energy independents, job creation and fracking for the oil and gas, which is ours, may be winning issues. let's go frack shall we? ♪♪ ♪
11:02 am
>> it is wrong to develop a form of energy that poisons people. we can do better than that in the united states. . stuart: well that was biologist sandra who says ignore the headline on that epa report she says fracking is flat out bad. don't do it. well, look who is here? kimberly cohost of the 5 and she's the author of a new book, making the case how to be your own best advocate. what a pleasure to have you on the show. >> yes. i think we need to make the case for fracking, but you did it quite eloquently . stuart: you're a lawyer. >> i don't just play one on tv. correct. [laughter] . stuart: so my point is that the greenies will never retreat, they're just going to court. >> that's right. they're going to go into court to see if they can get a remedy they're not saying we're going to agree with that you're out of your minds, you shall you
11:03 am
understand ga to a mental institution, and putting this false narrative to american people. and then the dollars dry up for them. this is something that they can put out there for pc politics saying that fracking and energy independents the way they view is a bad thing. . stuart: i can't understand anyone saying i would rather get my oil from saudi arabia where women can't even drive. >> right. stuart: than get it from canada or the united states. >> right. stuart: i don't get that. >> yeah. where it's plentiful, we have the access to it, and now you have the science -- the facts the real truth behind it. so you would expect that our government officials being presented with this very persuasive evidence would, in fact go forward to do this; right? stuart: you think they will? >> it's great for jobs, economy, and energy dependents across the board and governor
11:04 am
gerri brown . stuart: you know him. >> i do everyone him pip like him and his wife anne. he's a very intelligent man. he still could be would know opposed to this, i don't know . stuart: so i'm going to quote if one more time. >> sure. stuart: this is the epa. >> yeah. stuart: on fracking. we did not find evidence that these mechanisms, fracking, have led to widespread systemic impacts on drinking water, resources in the united states. we did not find any evidence. >> we really try. [laughter] . stuart: 1,300 pages. they really wanted to find. >> 1,300 pages much to their grin they came up with no negative reports on fracking. i think this is kind of remarkable to be honest with you . stuart: absolutely. >> i wasn't expecting that they could come -- oh, wow you went ledge? the wall street journal says -- >> fracking miracle . stuart: it really is remarkable. >> it is. >> didn't i it's fact, guided
11:05 am
timing especially coming into the election, we're going to put some press on people to do the right thing . stuart: but you lawyers radio going to kill it all, we know that. >> i'm a prosecutor, not a lawyer . stuart: yes. >> you're a prosecutor. >> yes. stuart: different species. we wear the white hats. we just get the bad guys . stuart: i have to move on. >> thank you . stuart: but you stay there. i've got other stuff for you. we have the jobs report came out this morning. here's the number. 280,000 new jobs added in may. a couple of other numbers for you. the participation rate in the economy and the workforce i should say 62.9%, that is a generational low. i would say that is not enough, that is same old mediocre at best. some are saying, 200,000 new jobs that's strong. >> sherrill is saying that? >> believe it or not, i agree with him. >> do you?
11:06 am
>> because glass half empty glass half full, that's what i was saying to you in the hallway. >> we say a lot of things about stuart in the hallway. >> i know . stuart: speak. >> so here's the deal. i want to robust the economy and i'm always looking to retry, retire. >> right. >> this is a situation where we should be doing more, and i think these numbers should be better. they can be better, but there are specific reasons why they're not greater; right? stuart: it's policy problem -- >> absolutely that punishes entrepreneurship that is for simulating the economy with small businesses, we've had a strangle hold, and my god it's good we've been able to squeak out this many jobs . stuart: can you squeak out a 9:00 to 12:00 a full three hours -- >> if the price is right .
11:07 am
stuart: there you go. >> afrom a free market kind of gal . stuart: stay there. stay there. >> i don't want to pay for it . stuart: dan is here from the wall street journal, deputy editor i believe; correct? >> indeed . stuart: there's a title for you. now, your column this week is all about and on my his legacy -- essentially that is what you were talking about. congress is nothing to this president. goes right around him all the time; right? >> right. and i think it's very significant stuart. we all know who the founding fathers were and i think barack obama can be called the refounding father because he's arrangement the american system. he's essentially abolished congress . stuart: can you go that far? >> well, that may be high but after he passed the act he's essentially set congress aside and he's created the new branch of government, which is the enforcement agencies the federal bureaucracies. the civil rights division of the justice department, the
11:08 am
education department, the environmental protection agency as we've just been discussing whatever they did -- i think this week's thing with fracking is starting people to think epa really isn't bad just last week they unilaterally extended the -- stuart: that was a bad hearing. >> potholes that's being covered by the clean water act. and this is the way that the obama administration is going. they've been wanting to do this for decades. they're impatient with the system of checks and balances that the founding fathers created, and they want direct democracy, they want to put in place through the executive branch, and that's why i'm calling him the refounding father . stuart: so if that's his legacy that's far more pronounced than anything that happens in foreign policy or in economic. >> what foreign policy? . stuart: fair point. well, that is a shift in the nature of america's unconstitutional government.
11:09 am
>> the next thing is can it be undone? . stuart: absolutely. >> and undoing what the bureaucracies do is difficult. but let me point out that during the reagan administration ronald reagan's lawyers required the attorneys in the regulatory agencies if they were going to make a rule to check to make sure that they were not exceeding their statutory authin other words, they want to do exactly opposite of what obama's lawyers are doing. so it is positive. it will be hard, but it can go in the other direction . stuart: you know i own a property in up state new york and there are streams that go through it, if those rules go through, i cannot move a rock within 20 feet of those two streams without pulling a form and i've got to go before a committee and i've got to ask. can you believe that? >> we talked about this months
11:10 am
ago because this is affecting farms across the country. not just yours . stuart: yeah tree farmers like me. >> innocent land. >> trying over your property with a little drone wopping you. >> ghost bursts . stuart: all right. moving on. let's take a look at here. i've got more headlines for you. sherrill you've got them for me. what's going on. >> we're keeping an eye on what could be the first major hurricane of the season. hurricane blanca is a category storm, moving off the coast of mexico, maximum sustained winds, storm about 600 miles society have cabo? why does that matter? that town got hit last year by a hard hurricane. and limiting the eggs on how many eggs people can buy among the nation's chicken supply is the cause of all of this. customers only online buy three cartens per trip, and
11:11 am
restaurants are raiding stores now. and worth be a female virgin of viagra? the fda has approved the first drug pharmaceuticals -- don't even saying anything. >> not saying a word. >> one worry is the side effects guys, like, low prosecute blood pressure. so there is a concern about this . stuart: you know what i was going to say? viagra for women is a cure for headaches. seriously. >> very funny. . stuart: prepare to be on the set with me today. >> i am taking the 5th on this subject. >> kimberly, help me out here. >> i'll help you out. i'm bummed out -- i already have low blood pressure, not that i need it now but i would like to have it available; right? in the future. but this is good for women. i'm starting to write a little love letter, i adore you
11:12 am
stuart . stuart: thank you very much. and the name of the book is? >> making the case, people. very revealing. . stuart: do you remember the soup nazi? >> yes. stuart: i believe it was one episode but . stuart: the guy who played him is going to be on this program momentarily. and what is the best-selling at walmart? trivia question. we'll have an answer for you after the break
11:13 am
11:14 am
11:15 am
stuart: all right. here's the trivia question. we asked you before the break what is walmart's number one selling item? and the answer -- well, you want to guess? >> toilet paper. >> soda . stuart: no. the answer is bananas. >> what? . stuart: they sell one billion pounds of bananas every single year. here's another trivia
11:16 am
question. which european country is the biggest market for bananas. >> france . stuart: wrong. >> italy . stuart: wrong. germans consume 70% of all the bananas. >> they have their potassium in germany. >> they don't have any sunshine . stuart: check the board. i'm calling it flat. not much reaction to today's jobs report. we're down 25. that's it. however do look at netflix. yeah it's touch another lifetime high. it's up 84% this year, that is by far the biggest winner of all the stocks in the s&p. another $5 today, 6. and under armour got an upgrade, do you remember that teaming up with stef curry and that stock is up again. fire eye. that's a big cyber security firm. another pop on the news today of that hack on the government computers. looks like the hack came up,
11:17 am
up 3.84%, and the flow keeps on coming be in change in the oil today. $48 a barrel, and gasoline $2.70 per gallon. the death of gorge fiancé susan on seinfeld. watch this. >> i'm sorry. she's gone. >> what's that? >> we found traces of a certain toxic as cohesive found in very low priced envelopes. . stuart: it just makes you laugh. >> it does . stuart: making fun of death but it was funny. >> it was great. . stuart: the chemist between he and heidi the act likeress who played susan was so bad
11:18 am
that they just had to kill her off. so here's a segue. joining us now larry thomas. instantly recognizable to any seinfeld fan. he played the soup nazi. he's the author of the book could. confessions of a soup nazi, and he joins us now. sir, i would know you anywhere. welcome to the program. >> good morning stuart. stuart: so what -- there you go. keep it. hold it help you. now, tell me. give me the real story behind the death of susan and why she was kicked off the show. >> gosh i'm so sorry. i really didn't know anything about that until i read that as well. you know, she was in my episode but we didn't have any scenes together, so the only thing i really remember about heidi during the show was i was originally going to say you cost yourself a soup
11:19 am
fraline, and then how you say that became a big discussing, so they cut that because it didn't make a lot of sones . stuart: so you were only on one episode. >> yes. stuart: that was it? just one. >> i was in the finale. >> uh-huh . stuart: yes. okay. now the seinfeld, it goes on hulu. i can stream it, i can watch it i can beng watch it, i think it's june 4th. and some of your colleagues in the cast are going to make some serious money because of the reruns and royalties. you only appeared in one episode. so do you get much money from the reruns? >> not -- not really anymore because they're on a kind of degrading scale and since it was so many years ago even though it will generate more money, the sag union are not
11:20 am
that much, they are between $20 to $54 every once in a while. but i'm just glad it's going to be on. i love a whole new generation of people to see it . stuart: it was funny. now, you were on one episode but everybody knows you. did you mind being kind of -- we introduced you 30 years later. the soup nazi is on the show. do you mind that? >> i mind that you said 30. it's only been 20. [laughter] make me feel older as i leave. i don't mind it at all. there's nothing in the world for a journey man actor than to be recognized for something, especially for something that was seen by 32 million people, because before i was only seen by the audience of the people who were doing the plays around here, and i would memorize their faces, so i knew who they were .
11:21 am
stuart: i would like to see that book again please. i would like to see it because i want to give you a promotion. there you have it. confessions of a soup nazi. >> yeah. it's the story of a journeyman acting career and 52 of my own recipes that really are my own. eight of them are soup if that means anything. . stuart: good for you. >> fun book to read . stuart: larry thomas, pleasure. we much appreciate it. >> thank you . stuart: thanks very much. all right. let me check the markets for you again. as i said before, it's pretty much a flat market, even though we have that jobs report, which is supposed to make a huge impacter, not much on the stock market really. >> sherrill here is language. >> that's how i felt about the jobs report . stuart: so they have so much -- >> stuart, it's interesting . stuart: yeah. >> nothing there. >> no market affect . stuart: greece did not pay up as it was supposed to. >> the nation missed a payment. stuart: and interest rates went up, but the stock market
11:22 am
is absolutely dead flat thus far. i've got breaking news for you. iraqi officials confirm the death of the foreign minister during era, he was sentenced to death but he was never executed. he died today. if you didn't think the american shopping mall was the thing of the past, wait until you hear this one. a mall in florida sold for just $100. theologist moment ♪ ♪ ♪ (charge music) you wouldn't hire an organist without hearing them first. charge! so why would you invest without checking brokercheck? check your broker with brokercheck.
11:23 am
11:24 am
11:25 am
11:26 am
stuart: what can $100 get you? well in florida, it could get you a whole mall. fox news corresponds steve is with us, how did this end up going for just $100? >> that figure did get a lot of headlines but it is a little deceptives, they were trying to sell it for $35 million, so they sold it back to themselves for $100, that's a number that baffled a lot of shoppers at that 100,000 square foot mall. >> like everything else going on in florida right now they probably know something the
11:27 am
rest of us don't know. >> a lot of those shopped have already shut down. mainly the mom-and-pop stores. there are right now about 1,500 shopping malls in the u.s. but real estate experts say it's an era that's about to close. at least 15% of those shopping malls are expected to shut down over the next 10 to 15 years the lower end malls are expected to die first, stuart. . stuart: very interesting story. that strikes me -- >> there are ghost balls . stuart: yes. online has done it hasn't it? >> yes. definitely. i would say that. they exploded too much in the '70s, '80s, and now they're being turned into churches satellite camps for colleges . stuart: sign of the times that was a good one. after the break that is coming up in a moment, we're going to take you back to the late 1970s, president obama america. sure looks a lot like president charter, doesn't it? steve forbes is here on that
11:28 am
one. and then sports. 1978 the last time a horse won the triple crown and can american pharaoh pull on of a triple crown win? by the way the book maker is going to be here
11:29 am
new york state is reinventing how we do business by leading the way on tax cuts. we cut the rates on personal income taxes. we enacted the lowest corporate tax rate since 1968. we eliminated the income tax on manufacturers altogether. with startup-ny, qualified businesses that start, expand or relocate to new york state pay no taxes for 10 years. all to grow our economy and create jobs. see how new york can give your business the opportunity to grow at ny.gov/business
11:30 am
11:31 am
11:32 am
stuart: it kind of feels like the old days doesn't it? disco, do you remember this? the late 1970s oh, yes remember president charter was in the oval office, there was trouble with iran, trouble oil, and, by the way the late '70s were also the last time we had a triple crown winner. we could have a triple crown winner tomorrow. steve forbes who is with us right now. steve, with like to the show of course. >> good to be with you . stuart: i'm intrigued in the parallel between the late 1970s, and right now, i think there is a parallel. >> i think there's a better parallel you're here to talk about it . stuart: i've been in america since 1975. >> fox wasn't around then. that's why if we got trouble . stuart: now, in the 1970s, we had all this trouble with the oil, the iranians, the economy, the inflation and we end up with ronald reagan winning the election in 1980. could we have something
11:33 am
similar in 2016. >> yes. and the thing on the republican side, all the candidates getting into the race, means they have to come up with good reagan performers to stand out. so for them to come up with good tax proposals, more than a dozen are in favor of the flat tax the regulatory state that we have now. congress doesn't matter anymore as dan pointed out in the wall street journey yesterday. congress passed 24 laws last year and 3,500 rules were formal promulgated last year. so these things have to be tackled and they will be forced to because they have to break out of the pack . stuart: have you got a favorite? >> not yet. and the thing about ronald reagan, old man washed up on the sale and alike . stuart: well, they said he was crazy. >> and the carter people, the
11:34 am
most likely, so do they look like reagan, but do they have the elements to be a reagan president . stuart: your big thing is the flat tax. would you be satisfied if we simply reduced the tax rate on individuals in corporations as opposed to going to a flat rate would you be open with that. >> no. we should have learned from the 189 80s that if you try to simplify, it just gets bloated again. we got it down to two tax rates, but they're like two rabbits together, they breed and multilie multiply so we have a chance to get it right. oh, we'll do a little cut there, and here, and the tax writing committee in the house, wrote a bill to simplify the tax code, taming came in at 997 pages, if you need a 1,000 page foil simplify something, you know you've got a problem.
11:35 am
just get rid of it . stuart: rand paul sitting where you were now he's a flat tax rate guy. >> yes, he is. stuart: and i believe he wants 17%. >> that's what i propose . stuart: i just can't imagine a world, america, in which there was one tax rate and that was it. 17% -- i can't imagine that, steve. >> country would take off like a rocket . stuart: of course it would. i can't imagine getting there. >> that's where presidential election is so important to get the consent and the consensus of the american people. it's own devices washington love the complicated codes because it's a source of power. that's why it's going to be out there in the public square, get the mandate from the american people, and we can do it. seemingly it's impossible, and i guarantee you just when reagan cut taxes, 50 countries followed suit, and you're going to see western europe save itself. >> great theory, but at the same time of your of all the
11:36 am
industries that are behind with and all the job losses on the short-term. if you were to wipe out the tax code. i mean it sounds great -- >> why would there be loss of job? >> accounting industry, there's an entire industry. >> we have 150 million people employed today. almost 150 million. you're talking about a few hundred thousand. even though i'm a conservative, i would support job retraining. [laughter] >> fair enough. . stuart: quick story. >> yeah. stuart: may 1982. >> uh-huh. stuart: i want to the mailbox at my house in new jersey. i opened it up, and there was a big fat tax refund from ronald reagan. that put me into america's middle class. ed i two children at the time. >> yeah. stuart: and one more coming. and that tax refund back in 1982. >> yeah. stuart: because of ronald ragle elevated me to middle america. just like that. that's what did it.
11:37 am
am i right? >> you're right and we have tons of americans who are going to be experiencing what you experienced . stuart: so you don't have to have a flat tax be you just have to reduce tax rate. it's doable. >> he started it. why not imitate it from something 30 seizing that was good. we'll give you that one. thanks for coming. >> thank you stuart . stuart: check the big board. not much action today. i think that market is pretty flat despite the jobs report earlier today. sir the price of gold. down only $6 now. earlier it was down 10 or 12. low since march. opec not today. they're going to pretty much continue as expected. no cut in oil production. price of oil is down 14 cents. that's it. all these markets are flat. now this. will american pharaoh i pronounced it pharaoh i'm told it's pharaoh. >> pharaoh. .
11:38 am
stuart: okay. will it welcome the first triple crown winner since affirmed in 1978? it will be tomorrow try to win the crown. look who is here. johnny he runs the sports book at wynn las vegas. >> well, stuart, right after american pharaoh had one two of the three triple crown raises. so i put up the bellman at that time, american pharaoh opened up a 5-6 favorite . stuart: uh-huh. >> he is now 5-7 . stuart: that means i've got to put down $7 to win $5 is that accurate? >> that is correct. stuart: that makes him the odds on favorite; correct? >> that's correct . stuart: okay. now, who is second in terms of odds? narrow odds. >> well, there's two horses that are going to be close in the betting at wynn we have profited a slight favorite
11:39 am
over materiality, and then after that it really drops off. every horse is at least double digits after those three . stuart: so i'm trying to pronounce the name. all of them between 14/1 and 35/1. those are long on those. >> they are long . stuart: if you were going to bet american pharaoh you're going to get a really short price at the track on saturday because everyone's going to want a ticket on him, and that's going to take the odds down to no more than 3/5. so if you want to bet machinery pharaoh for a significant amount, come to wynn las vegas and go 5/7 that's the best you can do. . stuart: i keep wanting to go there. >> i know you do. but i haven't seen you . stuart: what's the last point that i can place a bet on the race? >> well, the horse start at the gate, and when the last
11:40 am
horse enterings the gate and when the bell rings and the doors open, that's it. so you have a long time to think about who you are going to play . stuart: and those odds change depending upon the amount of money that's going to each individual horse; is that correct. >> that's true. now, for wynn las vegas this particular bet, this is a book bet through the house. and so we change those up manually when the pari-mutuel pool, which will be today now the money goes into that pool and those odds are decided by the amount of money coming into the pool at a 16% takeout. so that 16% will adjust the odds accordingly . stuart: he just loves the possibility of a triple crown winner because it brings in the money. >> i really do. . stuart: if you're not careful a might be there. >> looking forward to see you . stuart: always a great pleasure. thank you very much indeed, sir. >> thank you . stuart: what does president obama economic
11:41 am
policy, hillary clinton campaign and ronald macdonald have in common? answer? they all need rescuing. john taffer up to the job and he's here next the real question that needs to be asked is "what is it that we can do that is impactful?" what the cloud enables is computing to empower cancer researchers.
11:42 am
it used to take two weeks to sequence and analyze a genome; with the microsoft cloud we can analyze 100 per day. whatever i can do to help compute a cure for cancer, that's what i'd like to do. the pursuit of healthier. it begins from the second we're born. after all, healthier doesn't happen all by itself. it needs to be earned... every day... using wellness to keep away illness... and believing that a single life can be made better by millions of others. healthier takes somebody who can power modern health care... by connecting every single part of it. for as the world keeps on searching for healthier... we're here to make healthier happen. optum. healthier is here. >> i'm nicole with your fox business brief. lower for the week.
11:43 am
right now the dow jones industrial average has gone back and forth today. down about 31 points. 17,874. the s&p 500 lowered by one. nasdaq in the game right now up about 2.5 points today in this jobs day in america. dow jones industrial average -- jp morgan is actually at an all-time high today. goldman sachs also winner, multiyear high. verizon and intel are all bullying pulling back. jp morgan up 1.7%, and we're taking a look at here at ja solar, the ceo offering to take the company private a cash offer of 9.61 cents per share. that's a 20% premium. analysts say it under values the company. but the stock is up about 14%. and more "varney & company" coming up your mom's got your back. your friends have your back. your dog's definitely got your back.
11:44 am
but who's got your back when you need legal help? we do. we're legalzoom, and over the last 10 years, we've helped millions of people protect their families and run their businesses. we have the right people on-hand to answer your questions backed by a trusted network of attorneys. so visit us today for legal help you can count on. legalzoom. legal help is here.
11:45 am
stuart: the ratings are in from last night's nba final defame game 1 set a new record on abc for a coverage of the gain of viewers in 25% compared to game one last year. 25% up. that's because of the stars obviously. now, here's a star. he's rescued many bars. but what about the rescuingmy or rescuing hillary clinton presidential campaign? let's see what he can do for them? our rescue host john tapper is
11:46 am
here right now. of course we're short on time and look how nice you are. how according to you would you help? >> i would localize the army of small business, which is the army of economic recovery. i would put together serious incentives to estimate small business, and i would do anything it took to get every small business to invest and hire. and i would provide the deep incentive to make it an army of recovery. that was really good. that was about 23 seconds . stuart: . stuart: what i take it imply tax cuts? >> tax cut is. incentive, adjustments more enterprise area and disobeys, so some of it could be regional some by business
11:47 am
type, we could attack industrial industries and service industries, small businesses in a certain amount of employees in one way. small businesses in economic army. and we're not using it. . stuart: that was very good. >> and it's stimulated to millions of them out there. that could make a difference and quickly and it will touch the employees in a local market in a expeditious fashion. . stuart: that was an easy one. how bad a hard one. i could have done that. how would you rescuer hillary clinton presidential campaign. >> well, this is going to be a little longer. i'm not sure you can. you know richard nixon does not have the best of reputation, but he had an attitude that i have nothing to hide. but when hillary clinton became secretary of state she decided the exact opposite. i'm going to hide everything i say.
11:48 am
now, you have that attitude, if you're expecting hide something or you have something to hide, or you wouldn't do that, you would share it all publically. she is a serious credibility issue. i'm not sure she's electable . stuart: you doubt whether you could rescue her campaign. >> i'm not sure anyone can. i believe in time. that principle of why did you hide what you did if you had no reason to is haunting . stuart: wow. very good. >> told you stuart, on this program that she would not want to work for hillary clinton if she was offered the job, she said that will be the worst job . stuart: anne was the secretary of george w. bush and last two years of the presidency. one more. could you rescue mcdonald's? >> that's going to take sometime. you know, now they're not even releasing numbers. did you hear? they're holding back on numbers. they're tired of being embarrassed . stuart: yeah. >> it's a battleship, and it takes a long time to turn a
11:49 am
battleship. what frustrates me about a company like that is to roll out a new menu item will take six months. what my attitude is you've got five weeks. let's get it done. so now they're talking about oh, you know, we're going to have this burger for a limited time they're not making bold steps. they need to take a bold is it ep . stuart: give me a bold step. >> introduce a real organic hamburger, a custom berger blend, create a health statement, give a reason for a millennial to connect with the business. the fact of the matter there's no reason to go there. there's no quality statement there's no organic statement there's had to local supplier statement, there's no story . stuart: wow. you're pretty good, you know? that's very good. >> thank you so i get lunch? . stuart: mcdonald's is across the street. [laughter] no wonder your ratings are so strong. you're forceful, direct, and you have clarity. and that's a real advantage. welcome back. any time you want to be on the show you're welcome. >> thank you . stuart: now, up next -- wait a minute what else have you got?
11:50 am
you don't have a book, do you? >> i have a book. . stuart: you do? >> raise the bar. all right. raise the bar. . stuart: up next you're going to see our producer, my personal assistant actually, she's wearing millions of dollars of diamonds. you'll see them close up. even closer. shortly. millions of dollars' worth
11:51 am
11:52 am
you're driving along, having a perfectly nice day, when out of nowhere a pick-up truck slams into your brand new car. one second it wasn't there and the next second... boom! you've had your first accident. now you have to make your first claim. so you talk to your insurance company and... boom! you're blindsided for a second time. they won't give you enough money to replace your brand new car. don't those people know you're already shaken up? liberty mutual's new car replacement will pay for the entire value of your car plus depreciation. call and for drivers with accident forgiveness, liberty mutual won't raise your rates due to your first accident. switch to liberty mutual insurance and you could save up to $423 dollars. call liberty mutual
11:53 am
for a free quote today at see car insurance in a whole new light. liberty mutual insurance.
11:54 am
on-dollar jewels. one of our favorite guests. welcome back. >> thank you for having me . stuart: now, all eyes are on that. the 80-carat diamond. >> it's huge, isn't it? . stuart: how much? >> 3-$5 million. that's what we hope it's going to catch on june 16 at the auction in new york. . stuart: now, this belongs to -- tell me again. >> this is from a private consigner, the other two items i'll tell you when -- stuart: okay. so first off the 80-carat diamond 3-$5 million goes to action.
11:55 am
>> june 16 . stuart: and what's so special? >> the size. it's a huge size, to find that carat, you would have to find a rock that was twice that large. well, you lose half of it to fashion that stone opinion so you have a 150-carat rough diamond that give you a 80-carat polished stone . stuart: okay. inspect. next item. christie is with us. modeling a -- this is a necklace -- is it diamonds? >> old diamonds from the 1920s. it's a diamond necklace . stuart: okay. >> 16-carat, the best, the whitest, and internally flawless . stuart: wow. >> and that is 1.6 to $2 million? >> that's the estimate . stuart: that's a steal right there. there's a story behind the ownership of these two jewels. >> that's right. the necklace that she's wearing and the sapphire ring that you see here, both belong to mrs. kelly, margaret kelly who started killie services in
11:56 am
the '50s . stuart: isn't it true that she bought so many jewels from neiman marcus, they gave her a jaguar car? >> that's the store and had she bought enso much from christie, i would have given her a royals royce . stuart: okay. and next one. that fat ring. >> 21-carat. very rare. it comes from a mine in india which no longer produces sapphires. it stopped producing about 150 years ago. and to give you a sense of how rare that is, we just had an auction in hong kong on june 2nd and we sold a 10-carat cashmere is a of fire, half that size, for $240,000 per carat . stuart: per carat? >> yeah. it could make $5 million . stuart: good lord. >> who's buying it?
11:57 am
>> in hong kong, we had mostly asian private collectors . stuart: uh-huh. >> and we had a sale in the week before, where we had europeans, and believe it or not, when the the want something, they go out and spend it . stuart: and the auction is. >> june 16th at christie's in new york . stuart: we'll show up. won't bid but show up. we'll have more and rather thanlane company in just a moment no? you can't see that? alright, let's take a look. the one on the right just used 1% less fuel than the one on the left. now, to an airline a 1% difference could save enough fuel to power hundreds of flights around the world. hey, look at that. pyramids. so you see, two things that are exactly the same have never been more different. ge software. get connected. get insights. get optimized.
11:58 am
11:59 am
stuart: you were on one episode but everybody knows you. did you mind being typecast? we introduce you 30 years later. the suit not see is on the show. the mind that? >> i mind that you said 30. it has only been 20. stuart: a great mistake to me larry thomas, the soup nazi.
12:00 pm
it is a three hour show ashley webster was here for all of it. ashley: very privileged to. stuart: i mean it. >> allies chopped liver? stuart: neil cavuto it is your. neil: thank you very much. we are going live to the white house whether they're going to tell us what happened and why a day after we found out the chinese might have been behind the biggest hack attack in human history. more than 4 million federal workers's records were compromised but a couple hours ago we learned this could be connected to the anthem attacks and other attacks. it is spreading. we will talk to howard schmidt about this as well as henry kissinger. in the meantime the fear is this grows and grows as

167 Views

info Stream Only

Uploaded by TV Archive on