bob nardelli joining us tomorrow, it kicks off at 6 a.m. have a great day. "varney & company" is next stay with charles payne in for stuart right now. have a good show. >> appreciate it stuart is off all week, but guys take a moment. it's his birthday. wish him a happy birthday go to facebook or our twitter page. in the meantime we're watching your money first off. oil remember the huge selloff. that's starting to erase now for three-month lows and some are saying your gasoline prices could drop to $2 a gallon before the year is over. we'll ask the best in the business, gas buddy if they agree. and president obama says it will take a generation to defeat isis and calls it a war of ideas. that's not sitting too well with military people. and donald trump, every candidate has to answer to it,

but bernie sanders. china it's a huge day around the world and "varney & company" is go to begin. >> a lot of tension and happening around the world thatc1 >> a lot of tension and happening around the world that will influence your income your 401(k) and a lot of other things like commodities and on that note let's take a look at oil. down more than 10%, we're less than a week into the month and dothing again after being up a little earlier today a lot of news coming out of iran that could make that go lower or higher. let's take a look at gold in the traditional safe haven, it's down $15 at 1157. the ultimate-- i call it the safety if you will our yield.

obviously money pouring into u.s. treasuries once again, dothing six basis points 2.22%. it's amazing the last two weeks out of greece and ashley webster with the latest from athens. ashley. ashley: hey good morning to you charles. wel157 we continue to wait to see what happens in brussels. the greasis are b10ng asked to give a new proposal on how to tackle their debt load of 356 billion. it will be interesting to see what kind of reception they get in brussels after the overwhelming no vote. how lens by my count, 15 of thepho8 remaining members of the get going to be pretty harsh on the greek government. only italy, france and cyparls appear to be more lenient. especially with regard to debt rels i don't think we'll hear anything tonight. meanwhile greece continues to

keep the banks, we say, every day are running out of money. they really are. long lines at atm's, they're stockpiling medicine. there is a shortage of food in most of the lnnal supermarkets. time is running out for the greek government. they really are not in a strong bargaining position. so let's wait and see what happens tonight in ouussels. i don't think it's going to happen. if anything happens it's going to be a long pai%ully drawnout process. charles: they say they're not, and somebody tell greece. let's bring on art laffer a natural. so far, the country has developed the concept and done eversee whhing illogical. nevertheless, despite what asekey just said maybe cyparls is going with the entire country behind them ap all the political parties have signed on. what does it mean for the

ultimate deal? >> i don't think there's any bargaining power here. to be honest with you, it's long overdue what's happening in greece. if they do give in at all, it's just going to make things worse in the long arln. greece is a clear sign of the failure of redistribution and socialist economics and that's what's happening it's lasting here, puerto rico detroit, all over the world the experiments have not been working and it's proof positive that redistribution doesn't work. charles: here is the thing, art. we know that it doesn't work however the end game is what is the future economy and future people thinking it is the answer. again, we're talking about the ultimate. the people are given hair cuts on some of the debt and grgen extra cash in the next several years. in some ways people may argue, socialism works because the humanitarianism of the world comes to the rescue. >> and that might be true. there are in the world. i can't imagine evenytone in

th10r right mind doing a serious business loan to greece right now. it dxpeeri't make sense. the chances of b10ng repaid are low and by the way, charles, on a serious note here it's events like this that create the new rapidly growing company. this could be the new birth of a greece that could be out of the ashes of the buyer and-rad c1 >> the new agrees would have to have a lot more fortitude than the old greece and that's the question. you're a natura157 see you soon. >> thank you, charles. charles: the iranian deal remember the deadlinefte guess what it's extended again. tammy i don't know if we should be surprised enough, but what i saw was interesting. the knee jerk reaction from the mainstream media, somehow is helps our position. . >> eversee whhing that we're doing is helping iran at the same time, this deadline was

important to the obama regime because if they got it before the 9th, that would only give congressew 0 days. if they go past the 9th with the new you-- new law it gives them 60 daan . he think could would have to go trntil mid august. and for some reason the obama administration is nervous about people looking at something for a long time. charle h we haven't had ansee whhing that impacts our lives. why should we start now? realistically this is nuts. the administration wants the deal done no matter what and you have to say, they want this so bad, and president obama wants that feather in your cap, if you will. they'll agree to something maybe not in the best interest of the world. >> and managing iran's nuclear

prolwaieration and not wiping out its nuclear structure. that's key here. the president's top five iranian advisors warned this is a deal that raises a lot of red flags and coneserned. no 24/7 access to military sites or to military installation that had nher lear benefits. charles: i hope they consider no deal an option. we'll come back to that, but i want to talk about oil. it's taken a h coe shellacking, but art, i think you're there. i'm sorry, buddy, i've got to get back to you on what's going on with oinot oil plays a lot of roles in our economy, but it's willing of a proxy to our economy and the global economy. when it comes down in a couple of daan we've got to be concerned. >> i don't think so. i think that oil in the long arln should fly dothing. it was too high at $100 a barrel i thought. and it set up events where

people economyized on the juice and all of the supplies here in the united states i think we're almost hydrocarbon self-sufficient in the united states at least north americnoug that's great thing for the u.s., falling oil prices is not a bah bad thing for the economy ut ior the world. charles: the big drop didn't make a big hit for the retailer e idp. but to the g.o.lli grice.p. candidates more and more are running away from comments that tarlmp made. we all know the comments saying he does not represent the viewpoint of ml it restrblicansup but still, trump remains among the frontrunners a strong number two. tammy, here is the thing, the g.o.p., they continue to have to answer dxpes donald tarlmp or this question of donald trump, how big of a role is it going to play? >> the media loves it that no matter what they do i, they

would use it and spin it. donald tarlmp at the same time was clearly somewhat inartful about an important serious issue ep, ecially with the event in san francisco and the murder there. the americans having this conversation now and we're learning about the g.o.p. candidates, aren't wefte that's very important. >> and also warned the g.o.p. he said the mass is there. you can't win the presidenesy without the hispanic vote. it's key to winning the white house. charles: at the same time we all know and the importance of controlling our borders. that's something that evenyt sovereign nation has to right to do and i think a lot of americans, that resonates with them. if the language is different-- >> put the fnnus on law ln nlessness. >> we've going to be joined by brent bohe hillanyt is grging one of her

first national interviews to one of her friends, one of her aides. and all that. and now of course to other med headlines we're watching for you l 9ren simonetti has that. >> gopro has a new smaller camera, hero four sessioien it's a tiny black bud that costs about $400 and apparently easier to use. you press one button to turn it on and you start recording, it's waterproof automatically so you don't have to int est in the casings. starbucks the vente and not the grande went up in price. staougher ks is helping to pay for company's on-line tuition, and all of that cl its money denighe a

b c1 the tae'reful ascas!facttactfulfact-- despite the fact that coffee beans cl it less. there is u.s. approval to travel to cuba and the cl it for a sevebamda, >> this will not be quick. isis is o.

>> when will we see the cl it curve slow dothing? >> we've seen is in the past five years and we want to continue that. charle h ihop sorry, that was yesterday. part of my interview with the ceo's of aet's k and humana and in the next hour we're going to ask the author of beating obamacare how she tho cowin they answenge my questions or didn't answer the questions and ridiculous things they said. oil has turned lower, shellacked down yesterday, down 8%, down lou% for the month. and lower, gas buddy joins us in the next half hour. when are we going to see a and-eak maybe later this year. and the secretary testifies before congress on isis. thisup of course comes a day after president obama called

the fight that will last a e ieneratioien roll tape. >> this battle for hearts and finds will be a generatio's kl str cogle. it's not going to be won or lost by the united states alone. it will be decided by countries that terrorists like isil target. charles: l, >> i agree totally. i don't think that the president said yesterday that would inspire any of us in our fight against isis. and isis could say, we've got plenty of time to do what we want to do. the president said nothing that they're not saying it we need the support when and where we can. seemed to me he's just learning

things that a lot of people have known for a long time. charles: it's interesting, the generational figwin and it's gone beyond iran and syria. the suggestion by the president that this is some sort of ideology gi against christianity and other relations or ide0 ac1 h, >> well it's a middle eastern conference and it's going back in the west world. >> at a minimum, you know his original goal was to degrade and unds imately destroy. we could be degrade, founding syria founding the heart of the s's kke out thery. he was layearing we had 5,en i0 air

strikes against isis. we were in , yen i0 air strve iees in the frge days during the war. we're piddling around the edges. >> it's e-mack here. sir what do you mof >> not at alnot we're not doing anything it's not helping our allies. and pwerple were killed last week in the sinai. we never provided him the attack helicoptenge he wanted not only to defeat those brutes with isis, but to protect the suez ca's knot he'll say whackes. i0 ae because every time they're popping up

somewhere else. we're not doing a dthing to stop that from happening. >> we could say that a darlg war is ane nducational issues and as soon as we cause-- certainly from what i see or isis sees we're not doing mher h to fight it. charles: they're certainly not ll nd n

>> look at that now, how cool is that? that's a guy in his ln nn chair and he was flying with balloons over canada. of course he was arrested after attachingbeat50 gadent helium filled balloons to his lawn chair, he flew over calganyt. it was t winho and he was forced to abandon it liz: that's really mario draghi out of europe. charle h you would never think

from the movies that that would hn thpen in real life. that's co0 a. what is cool he this the u.s. world cup, uchai. tv history, men women, it does not matter. e-mack is joined by sandra smith hello, gd mornin cog and to ust amazin sai right, real good stuff. sandra: it's amazing and the world is tuning in more and more for women's sports. charles: and americans, p, ec halically in my mind i think that the american audience, that male-sports driven aud, >> hold oho american viewers have been reluctant to embrace soccer in generanot charles: right. sandra: now they're watching women soccer in record nues aers h coe things. the pay gap is pretty big from the men's soccer players to women's.

ãc1 >aybe that's going to change that. charles: just a little bit lihat? i think there should be legislature to correct that. no, just kidding. charles: youache spoking about i fr but the nrut o c1 g, hant of the white house may win it on income inequaliy w. sandraz a man who says it's a little pay gap, i think it's a percent%. >> women are bringing in the ratin ch. charles: this will change and-- and carli lloyd is all of our hero. we're a f minutes away from the opening bell. a lot of faudus on greece, but what about china? they've taken center stage and does it reflect ane nconomy in shaes ales? ãc1 >oreoloarney in just a few.

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>> the running of the bulls underway in palm-- palm paloma spain. we just got in news from that euro zone and the greek

leaders showed up without a proposal. so the market is going to open in at the point seconds. higher openings generally see a gr ip into the session. and so we are hearing the ringing of the opening bell and a slight move to the upside. and we get maybe a 20 30 point bounce, we'll see. joining us we've got liz macdonald and sandra smith and jarrett levi nothing to greece. >> how do you do that? how do you show up to the most crucial meeting to date how do you do that? >> considering the horse they game with one time. maybe empty handed is good. this is a belligerent greek people who said up you, shove off we don't care what we owe you this is part and parcel of

the game that worked with them but not the rest of the world. >> the government said no to anything to what the euro peen -- european zone. and watch a lot of volatility there and you know what? i tell you, this is a big hit to the euro zone. it's 540 billion that greece owes to the euro zone. we'll have to raise money from the bond market. sandra: and then the next deadline happens and passes. >> basically contraction on the euro zone because it'd have to raise taxes to pay off. >> there's no way. charles: they don't put money in the bond market because they don't have any currency and todd, i think between now and july 20th the world will implode even if we don't get a good lead the we need to put this thing to dead.

>> when you're running a scam which greece is they give out fix times more than they take it. they're trying to hold everybody hostage and making that we'll bale you out again. merkel is the only one and i think that merkel wants to throw them out. if they're waiting for them to come out. merkel doesn't want them in any ways at this point. sandra: you have to decide what's worse, right? if they exit it will be a horrible situation. they stay in it's pretty ugly and better of the two. >> i think that we have to look at what's happening. oil was slammed, and cod up against and pulling back. what is the message for the oil prices? >> first thing, charles, we trapped a lot of people on the big rally when we came up.

now we're having a major selloff, a little bit of china, a little bit of growth. we haven't had true growth although we're hearing reports that you're going to see it. i think that oil will find a support here around the 52 level. if you're playing, you want to be a buying. the oil stocks we're going to see some selloff. i think that was a panic selloff and i think it would be an opportunity to buy. charles: and after this iranian signing-- >> the u.s. dollar could be strong. charles: going down 10% this month. what about china? >> once the oil prices are low enough particularly u.s. production coming down you'll have production taken off and

cure those lower prices and prices come back up. charles: to your point we've already seen massive, massive cuts in rig count. it won't take long to change that dynamic. and looking at this one, here is the deal. china lost three over three in the markets and people think maybe it's reflective of the economy and can no longer look at the number. sandra: i've heard that the chinese stock market has lost something like ten times the gdp of greece in in selloff. this has been a huge selloff and a big story developing as a lot of the shares have just been halted of the china stocks and companies. this is in an effort to stem losses there and until they stop losing value in a very

messy situation. >> here is the thing, you had 1600 companies down 10% in the daily stock limit. and those companies, combined 1.4 trillion dollars so this is not a small efforts to stem the tide liz: new manufacturing and services data shows china is continuing to slow down. >> it's not necessarily in front of me. we kind of like them, that china has showed down. and this is exactly what we want to see at this time with a praj gill fragile global economy? >> charles when you confuse funds and lower interest rates, china has problems for years that we've ignored. they had the hidden cities which they never showed on their balance sheet. you've got them they were

allowing copper to be used for loan values for banks and manipulate the price of copper. if you continue to manipulate sometimes it has to give. if you don't show real growth and earnings in dollars, i think we're seeing the bubble burst a monster move and now telling chinese traders, you can't short them more either. that adds more fuel to the fire that makes me want to sell. it's the movement of truth for starbucks. your favorite latte is going to cost you more cash. starbucks raising the price, for me here is the story. capitalism sounds great on people, but publicly traded companies, you have to raise money. and they have to build out

prices. charles: the free college, coffee prices have risen. howard schultz, i think one day he'll run for president, but they have to say we have to raise money liz: they could raise rent money from people who sit there all day. sandra: we've seen starbucks raise prices three straight years, but it's been the fancier higher end drinks. they're hitting this the basic coffee sales, the avente and brewed coffee goes up for ten minutes. >> if anybody goes for a cheap cup of gentlemen-- >>, but you can pat yourself on the back for helping a student go to college. >> they're matching up with

raising costs. i think what starbucks is doing is kind of-- it's a day to get ahead of the curve. from an investment standpoint, they're trading at 52-week highs and i'm not kraed about the stock to -- i'm not crazy about the stock, but-- >> there's nothing more comforting for the shareholder for them to raise prices and starbucks probably fits the bill. a disappointing outlook. i'm not sure you heard this before, a disappointing outlook for chip maker amd. i think it's been that way. >> the shares are down 17%. nobody wants to see the shares of any stock they own go down 17%. new low, $2 and change right now and it's bringing down the

whole whole all of these in the semi group are lower because of the weak outlook and pc demand is lower. >> let's talk about a high flying company, fitbit i know they've got a target there. >> they have a buy and brokers are calling it a buy, they do sales checks phone calls, and seeing ongoing mow-- momentum for fitbit. >> inviteing the public in and they're going to take advantage of the users and that's despicable. makers of twinkies reportedly

scrapping plans for a sale and now going to ipo? >> you notice that drake's is advertising fruit pies and yodels, you see it. we grew up with this junk food. that's the story line with what's happening with what we're talking about. >> don't know anything about the apple pies. >> these used to be in my lunch box when i was a kid. look, they're valuing the wirm company 2.4, 2.5, and they snubbed that offer thinking it's worth more than that. >> and hostess' turn around and fitbits. >> can i comment on that? >> the testament to the craziness of the market. the company is struggling oh, get money from everybody.

i don't know where they're going from this i personally wouldn't be an invest, but it could be a-- >> i'm not a twinky hater. >> tinkies are the breakfast of champions and with all of this now you'll see money is so cheap 2.4 billion doesn't mean it, how cheap can i get the money. that's what i see. charles: listen call it the new normal credit cards now function as a financial survival school. liz of course that's not a good sign of the economy. >> it's -- they're not taking into account the nose bleed high credit card rates they'll have to pay. i think it's a testament to the financial literacy.

they make this easier to buy the stuff with a credit card. the generation x-ers. 35 to 48 they're saying so they're seeing the credit cards as more of a lifeline compared to other generations that see it as what? meaning a tool to purchase something other than. >>. charles:. maria: i call it a certain part of the population that's doing well. if you want to pay for a credit card and the credit card is taking for all kinds of offers that get you into zero% and

22%. and they don't make the first payment. >> that's the business model and ultimately coming on the computer to read the fine print. as we're speaking we're up 20 on the dow. it's 46 47 points under a fair amount of pressure here. and go pro, did you see this? they're using the smallest camera and could be the most marketable. and speaking of cool senator marco rubio talking with neil cavuto and you don't want to mace it at noon today. we're going to talk about other things when we come back. "varney & company."

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>> let's check the big board now. maybe it's a coincidence, but as soon as we got that news that the greek officials showed up emptyhanded at the meeting of a lifetime the market loses a little bit of a gain that we had. this is do or die, guys. no new proposals, that does not

sit well with a lot of investors who wonder what's going to happen. we're already in uncharted territory. i want to take a look at tesla. downgraded them from a hold to a buy. the stock had a huge run, in the shadow of all-time highs. there's now underway the u.s. defense secretary ash carter on the strategy to defeat isis. president obama yesterday called it quote, a war of ideas. fox business washington correspondent blake burman joins us from d.c. those comments didn't sit well with a lot of people. >> those were the comments and congress might get a peek at what the top military leaders told during their meeting. they both met with the president during that rare visit at the pentagon are testifying before the senate

armed services committee. it just got underway. the president labeled the fight against isis labeled is different ways. he said it's a generational struggle. and without the help of others would be playing whack-a-mole. john mccain says he doesn't feel the president has a strategy in the short-term or long-term. we anticipate hearing about more on the strategy. charles: call me crazy, that's one mole i'd love to see america whack over and over and over again. a new look here from a gopro. yesterday it was down and it's up big, and the news coming out a brand new camera the hero four session. this is the smallest one so far? >> roughly the size of an ice

cube. charles: really? whoa! >> i think it's going to be a hit. they've had hit after hit on their hands and almost created a market of video producers, because now you can strap the inexpensive high quality cameras to anything and capture awesome footage. charles: i always thought they looked cumbersome. i'm not geeky enough to have a helmet with a camera on top. it felt rigged and now-- >> you could punch a hole in a pocket. charles: wall street says ultimately the chinese rivals are going to make cheaper versions and get them out. >> yeah there's been so much competition in this case, but they totally own it.

it's interesting to watch, even the big names that have been around forever, your sonies your sharps they're trying to compete in this space and doesn't seem to be catching on. >> is gopro, to justify the value, like j.c. penney, don't they have to come out with a drone. >> it's what everybody wants to strap to the drone. they'll probably own that space and do it cool and inexpensive in a way that-- >> they better my clients are long the stock. thanks, buddy. might get one of those things. oil taking a huge hit and hopefully maybe that means gasoline going to $2 a gallon. we're going to ask the folks from gas buddy or the main guy if he agrees.

also, you're going to need a bigger investigation, shark week is back and we're talking to one of the award winning hosts later on. what he thinks about the latest recent sharks attacks on the east coast, should we be afraid to be back in the water? next. than allergy medicines alone. so you can breathe and sleep. shut your mouth and sleep right. breathe right.

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>> breaking news overnight. one person was killed and four others were injured when an ice cave collapsed yesterday in a national forest in washington. overs say the hot weather has made ice conditions so dangerous that rescue teams are determine if it's safe to go in. the body of the deceased has not yet been recovered. now let's check out the price of oil. it's now below $52. we had a guest on earlier who thought that might be a key support price and it's been the first time in this area since april when he went back up. gas prices are $2.76. let's bring in patrick from chicago. when crude goes down, the question everyone wants to know, when can i benefit and get cheaper gas? >> that's a good question. with summer demands through the roof with the estimates they call them to translate to

better gas prices i think it will be this fall when we roll back to cheaper winter gasoline. i think the prognosis plenty of sub-$2 a gallon prices don't expect to show up tomorrow with a ten cent drop. we're watching the markets and with a huge selloff like we saw yesterday, you get a bounceback the day after. so something we're certainly watching for. charles: patrick, there's been a debate about oil prices the supply side the demand side and when we see the sharp moves people wonder what does it mean beyond simply the price of oil? what is it telling us? is there a narrative here? is it about china, and iran with the supply or global economy? what's the story now of crude coming down as rapidly as it is? >> i would say certainly china and iran are affecting crude

oil. 2020 iran would be pumping 4 million barrels a day. the question would we make a nuclear deal with iran and will that oil return to the world market? right now it's looking like yes the market is starting to price that in. if you see a surprise suddenly the u.s. walks away from nuclear talks, look for a bounce back up in oil prices certainly that's in the driver's seat right now along with china. huge economic concern there from the explosive oil growth we've seen in china. obviously two big factors and now of course with greece and the euro weakening, another play yet to think about. charles: a global comment, but at home they want one thing from you, my man, and that's cheaper gas. coming up the markets are now falling on yet more bad news out of greece, but some say we should be worried about china and that's coming to the rescue of the stock market and having little effect thus far. plus yesterday we talked to the main guys at aetna and

humana, and health insurers are joining forces to stay profitable. higher rates. "varney & company" is back in just two minutes.

>> here are your headlines for the following hour guys. it's all about china now and they're in a big freefall. the shanghai deposit down 30% since mid, early june and forget about greece. china, obviously, a big, big cog in the global economic composite there. and their big problems mean big problems for your money. the deadline in the nuclear talks with iran just hours away, but extended nevertheless. secretary kerry says they're sounding more optimistic. i'm not sure we should be. the ceo's of aetna and humana told me the health care costs haven't gone down in years. we're going to get a reality check from one of obamacare's

biggest and smartest critics. hour two starts right now. ♪ >> all right, guys let's go back to greece and start there. there was a headline from those talks early on. we've got ashley webster in athens and ashley do the greeks have a new proposal or not? >> well there have been reports that greece have shown up in brussels emptyhanded, but now the greek government says that's not true. they resubmitted the proposal given to them last tuesday by the head of the eu commission and resubmitted that with some amendments. don't forget that was the offer that was on the table last tuesday and then greece walked away from it saying it's just not doable. the question is what do they want? do they want debt relief? something that the imf says that greece has to have in

order to be sustainable. don't forget that the debt to gdp ratio around 177%. so i don't think we're going to get anything today as the eu finance ministers and the summit tonight will decide what to do, but certainly, the rhetoric so far going into the meetings, hasn't been very encouraging at all. and here in greece life continues to be difficult. when you look around the street in athens at 5:00 in the afternoon it looks calm and peaceful. there are lines, atm lines gotten longer as people try to get their euro. sometimes only 50 euros a day and the capital controls will be in place at least through the end of tomorrow. and if greece doesn't get a deal. there will be serious problems for the banking industry and the system as a whole, charles. we're hearing reports of fuel and stockpiling of medicine by pharmacists.

overall it's a wait and see. you look around the streets, we've spoken to people and they're concerned. they shrug their shoulder and there's no good option they've been dealing with it for five years. charles: it looks so tranquil and it might be the ultimate calm before the storm. we will talk to you again. let's look at the big board, 20 points on the dow and given it back. the only major news i saw was perhaps the situation, the meeting in brussels empty-handed or the same proposal obviously rejected before. it's scaring the rest of the world. oil hammered yesterday and-- more now with this really starting to fall apart. down more than 2% 51 is there. and the winner in the market fit fitbit, that stock is rallying. check out the shares of alibaba because that chinese

juggernaut, now the shares are hitting all-time lows than the key support, $80. while the world is watching there's a bigger problem brewing and that's in china. peter morici who happens to be a critic of china, peter, a lot of people saying what we're seeing now with the stock market a final act in a long drawnout play and there are a lot of problems and now they've got to face them. >> well absolutely the chinese stock market bubble is based on buying on margin and people are buying on the banks, the margin calls are coming from the banks and there's a liquidity crisis at the banks. the kinds of measures the government has put in place and private brokers put on place are the kinds of measures used in the united states and failed at the beginning of the financial crisis. brokers putting together money, stocks to support prices and sums of money involved are like a tea cup in the south china

sea. charles: what are they doing, trying to waste time propping up the market? should they continue to prop up banks for bank runs rather than caring about the nuances of the market? >> i don't know that they should care about the stocks. the government can direct the people's bank of china, which is not an independent entity they'll just turn around and buy stocks to prop up the banks or put in whatever capital is necessary. their analog of the treasure they don't have to go to congress to get a tarp they can just do that. it can patch things over. in the reality, it's a house of cards and built on chicanery. >> thank you for joining us. china's been investing a lot in

infrastructure and there could be a property market crash there. china is trying to get more consumer active in the economy. why does it matter to the united states? >> simply because china's export model hurts the u.s. manufacturing sector and slowing u.s. growth. we could increase 3% 4% a year if china was operating itself properly. and that's the basic problem and why we should be concerned. unfortunately, this kind of crisis and 30% is a crisis when you can't turn it around. desperate for cash manufacturers will export below cost. stuff will show up at the wal-mart that makes no sense. stuff will show up where the cost of the materials in the markets a lower than the retail price at the wal-mart. charles: let's talk about worst case scenario a lot of people said it was a house of cards, but what are we looking at?

what happens when the final card falls? what does it mean for us? >> we don't know that the final card will fall. a good analog would be like the japanese lost decade. as japan started to melt down the world did not end for the united states. i would say, is this something we should focus on as a country and at the treasury department or the fed. greece failing is like rhode island failing to pay its debts. charles: which, by the way, they can't. >> they can't. there are a lot of greeks and a sister to sister relationship might solve the problem. charles: we'll return soon. the race for the white house, the g.o.p. field having to answer a lot of questions about donald trump. the media has been slamming

him, but some controversial comments from bernie sanders are given a huge free pass. cheryl casone is here to talk about the double standards. >> they obviously know they need to make sure that they appease latino voters and every g.o.p. candidate is coming out. charles: what about bernie sanders and nobody asks hillary clinton, how about this guy who is on your heels and what about the democratic platform. >> we could ask mrs. clinton, but she'll only talk to one reporter. and bernie sanders, he's got a lot of support. and some are getting attention

like mr. trump. we've got all the candidates in the republican side. we can't fit them on the tv screen to vocalize against trump. all we have on the democratic side-- >> the g.o.p. must reach out to hispanic vote for future elections, but i think this is more about the double standard once again within the media when you focus on the hot runner in the g.o.p. and controversial comments there and ignore-- didn't he have a turnout. i think he's a legitimate candidate. but really illegitimate policies. charles: and we'll have more on the donald trump double standard next hour and bret bozell will join us at 11:30 eastern. and some of the other headlines

lauren simonetti has them in case you missed it. >> you didn't miss this one, carnival sailing to cuba. and in travelling to the couldn't for social impact brands and costs almost $-- hostess wants to go public. reuters a reporting that the twinky and ding-dong maker-- i'm getting excited, just two years ago the company was picked up from bankruptcy by apollo global management and cd metropolis for $410 million. and resale value, $2 billion. stipulated of his title, floyd

mayweather will lose the belt after beating manny pacquiao he missed a deadline to pay a sanction fee and did not follow rules requiring him to vacate the other titles that he holds. he can appeal and previously said he would vacate all titles so younger fighters have a chance to win the belt. charles: i don't think it will impact. >> me neither, nor do i care. [laughter] well, thanks for reading it. [laughter] >> inside baseball folks, inside. charles: and feds raided the home of jared vogel. the reason will shock you. and humana and the author of beating obamacare will be here.

>> we've been here the last five years and we want to continue that.

>> stocks and oil, that's the story again today. greece, is part of the back drop. we hit the lows this morning after the greeks showed up to that huge lifetime euro zone meeting and go and hash things out. guess what? it was the same proposal previously rejected. let's check on the s&p, that's exactly when it turned negative and down for the s&p for the year and also seen a selloff in oil that gained momentum as the session has gone on. hitting the lows of the day. the lowest level since april right now. a huge move to the down side. federal authorities raising the home of subway spokes martin jared fogle in a child

pornography investigation. >> this started 6:30 a.m. in zionsville, indiana. famous for losing the weight and face of the commercials and company. it's possible that he's being investigated for a child pornography case there. all we know is that federal authorities were serving warrants at the home in connection with a child pornography investigation. why do i say we need to be careful here? because the man that raised his charitable foundation was arrested on child pornography charges and when they raided his name taylor that's where they found the evidence. he tried to commit suicide in jail not too long ago. so this could be a part of that or this could be a separate investigation into jared fogle and we don't want to wrongly accuse. we're not getting any more comments from investigators. the fbi has raided the home of jared fogle in connection with

the child pornography investigation. >> it's a shocking headline. >> it's all over social media right now. it's everywhere all over twitter and facebook and getting a lot of attention. >> thanks cheryl. >> now to aetna and humana. you remember yesterday they announced a huge $37 bill. is it going to mean more choices for us? no, of course not. i talked to both ceo's and took them to task on this program yesterday morning and now, joining us is the authority of beating obamacare betsy. i want to run them by you and get your chance to each. the main one, that the curve has been going down for years, the cost curve. >> when we see the cost curve bend or slow down? >> we have been seeing that and-- >> this is unbelievable. >> the facts, in 2009 health care spending increased 3.9%.

the lowest in 50 years. 2010 the same figure. the administration's own actuary projected in this decade under obamacare increase 6.1 mers 6.1% a year almost double. >> and above wage growth or above any other metric that might help them catch up. >> when you listen to the weasel words from the two ceo's. well insurers take a fixed payment for a patient and-- >> let's run that for the audience. on changing their business model listen to what they had to say. >> the business relationship has to change. under the cold under under the old model, it doesn't solve the health care problem. hospitals work on revenue basis and insurers or a margin basis,

when you do good thing, margin appears like it does in medicare advantage. charles: and they want to make your doctor the and strip the risk and your doctor has to provide a fixed payment and provide what you need. that destroys the trust between you and your doctor whatever your doctor describes for you, any x-rays any tests, treatment come out of your doctor's own pocket at the end of the year sets up that conflict of interest between the person you need to trust and you. charles: well they also talked about local competition. i was so confused about and then this partnership thing. the last one, got to roll this one too. >> it's not any longer how much do i pay you for each service, it's how do we create a partnership where you get rewarded for improving the health of the population and we

provide the back stop from a financing standpoint. charles: all right, the back stop, financing standpoint. i mean everything is roses with these guys. premiums have gone through the roof, deductibles gone through the roof. >> way more than-- >> and by the way, even people getting the premium coverage don't go to the doctor because they can't afford the deductible. >> and they're paying the higher premium and subsidizing the cost. >> the president came out with some advice. here is his advice on a trip to tennessee he said that consumers should put pressure on the insurance regulators to scrutinize proposed rate increases and that way the rate increases will come down and hhs secretary said you can shop for a better plan and a cheaper plan the exchanges are-- so the message is you're on your own. >> that's fairy land remember every time you change plans, you have to change your doctors

because these plans offer a selection of doctors, so what about the president's promise, if you like your doctor you can keep your doctor. that's history. charles: all we can say, betsy, we're glad you carry this thing around and glad you're the one in america who read that bad boy. thanks a lot. dick fulz auctioning off his estate. we'll tell you how much it's going to set you back right after this.

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>> take a look at the big board. we're really getting hit hard. we're down triple digits on the dow and that news seems to be attributed to the fact that the greeks showed up with a huge meeting, do or die meeting with the same plan from last week. this is nuts. officials gave them 24 hours to

go up with a new plan and 48 hours with a deal. that's not how you start it off. chinese and the state run bank stocks are hit hard in china. that market is taking a drubbing. steak shack, that's coming down and cut ratings on the share and taking a big hit. chairman ap and ceo is putting up his home. >> this is where he hid out by the way after the collapse of lehmans for years. this is sun valley where the moguls go. the property is amazing. had it listed and didn't find a buyer. sun valley is stunning if you

can afford to live there. big river drive. it's going to be auctioned off next month. he owns a few parcels of land around it and homes in greenwich connecticut and jupiter florida, he only spoke publicly for the last time and selling it never goes there, 11 bedrooms, 10 1/2 baths, guest house, gates, bridges, views of the mountain around it and also got all kinds of property for like horses and animals and of course, the property itself is full of wild animals that you know, just-- >> all the big wigs have every year. >> the sun valley conference one that charlie got kicked out of. >> by the way, is this where the investor money went? >> something akin tole a capone's vault there and maybe get it back. good for dick fuld. >> he was trying to get 60 million. charles: nows' a champion for

income equality believe it or not. and a big deal rather than $ $2-- is $1 a gallon gas coming? >> i think the prognosis is plenty of sub-$2 prices. don't expect a 10 cent or 15 cent a gallon drop it will take a matter of days. super poligrip seals out more food particles. so your food won't get stuck and you can enjoy every single bite. eat loud, live loud,

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charles: let's check oil prices looking at the dow, gathering momentum. the proverbial snowball is becoming a boulder, lot more downside from the market, the price of oil also getting

hammered, down 8%, we were up fractionally but once again release starting to collapse. gas ring known $2.76, the big question is now will oil make it, perhaps gas prices get down to $2. >> how are you doing? $51 a barrel looks like you will see at fourprint on the oil price pretty soon. a lot of things are happening on the oil markets, the dollar, 25%, every barrel around the world here or abroad is traded in u.s. dollars a you have a strong dollar, if it is up 25% in the year the oil price can go down by 25% and you're still using the same value so you have 25% off of the $100 price down $75 and the additional $25 is questionable. >> certainly not 7 or 8 or 9.

it is the second highest user of energy in the world, that will put downward pressure on prices. the overhang of an iranian deal is also booming large. that has to be a 5 to $10 discount to low dollar of oil, if you put iranian oil on the market which you could sanctions are lifted could oversupply the market and you see more downward, let me give you the last one. stocks, earnings are the of most important thing. you can have products but what matters are the earnings. what matters to an oil price inventories, the inventory overhang is some of the worst i've seen ever. the best i have seen ever. because we can fracking now, it is unbelievable. charles: on that point lot of people say the downside, the big move was triggered by saudi arabia in a last-ditch attempt to destroy the fracking miracle in america and considering how many rigs of come off line and how many projects have been postponed the piece out arabia won?

>> american exceptionalism, we drove sideways and found a way to pull the energy of rocks. charles: that cost a little bit more. is it viable? >> what you do when you bring oil price to 40 or $35 a barrel you make people more lean and mean and they will do very well, a weeding out period because of $100 oil when you get to 35 or 40, it is great news for the american economy going forward. every time i say this i get destroyed on twitter, people say do you know how many jobs in the oil still will be pulled off line because they will lower oil prices? they you know how many will be created because people have an additional -- >> getting eaten up by rising health-care costs wiping out >> reporter: jeans. >> they didn't have that, anywhere between 500, to $1,500

a year. charles: xrt we are not spending at the pump, or paying an old bill. win wire weeks going to see that? i know is in our dna but one thing we learned joy hard way is created a generation not unlike generation of the great depression that may never spent like they used to. >> perhaps worse than for frugally than the prior generation. i will tell you a low oil price means lower heating oil prices, means a lot more in the economy. great for the country. this is an american revolution. charles: i want to see the fracking revolution continue. let us export it too. see you soon. let's go to iran because the deadline for the nuclear talks is today but may be switching,

the wall street journal is reporting one of the biggest obstacles in this negotiation is the un arms embargo, the government is demanding the entire embargo be lifted before it signs off on any deal the curbs their nuclear program. that has been in place since 2007 the events on sale with the iranian government. showing us is stephen yates, former deputy national secretary adviser to vice president cheney. he feels like every time one of these deadlines is the race iran becomes more emboldened and next thing they demand seems more outrageous and this might be the most outrageous of the mall. >> it is a big leak. they are trying to move the goalposts in area completely unrelated to their energy market which allegedly is the only reason they're pursuing nuclear capability. there are many dimensions of the threat iran poses, and supposed to focus on pending in richmond,

supposed to focus on anywhere inspections and supposed to focus on verification of compliance going forward. the iranians to keep moving the deadline and add more demand beyond the scope, basically a win for them. charles: is this a space or area the administration can say you cross the line because they felt a little fungible, bendable, delineation on what is off limits in negotiations. >> when they announced the recent framework, iran was supposed to do away with some of its enriched capability. a failure to comply with the original framework that put the june '32 deadline in place a there are plenty of grounds for the administration to walk away but they seem like the ardens to whether these negotiations get delayed again, we are into a

period where it an agreement is made congress will take 60 days rather it and 30 days to review it. have hearings and decide whether it approves or does nothing. charles: with respect to this on some cargo can you help us understand what it might mean if we do? what if we acquiesce, given to iran, it is gone. what does it mean for them and their military might. >> from my understanding would be the european union on the embargo. it would mean the flow of european capabilities into iran's military force. one of the major problems with these negotiations is it looks enormous lace of the airtran challenge and ignores a 4 year civil war and more than one year takeover by isis in large chunks of iraq. given the iran military more capabilities more destabilized

so i think contrary to the purpose of the entire enterprise. stuart: charles: we are talking one of the biggest sponsors of state terror in the region if not the biggest. you just mentioned isis. president obama admitting the fight against isis in his opinion will be, quote, a generational structure. take a listen. >> this will not be quick. a long-term campaign. isil is opportunistic, this larger battle for hearts and minds is a generational struggle. ultimately not one or lost by the american -- united states alone. the countries in communities terrorists like isil target. charles: this has to be a generational struggle. that was necessary to defeat isis or there is a way to do it sooner? >> he is right and wrong at the same time. will take a long time, you can't fight ideology with bullets, they need to be fraught with better ideas but we need to be

telling the truth about the ideology, he defines his ideology as violent extremism, that has more holes in it than swiss cheese. what is an ideology of violent extremists and and it is not clear we are not against islam but what exactly are we struggling against? and undermining the bat ideology is not the same thing. >> could we have been the nazis with ideas? >> i am guessing not. they seemed to have a lot of muscle behind ideas and control lot of their media. to make a difference. charles: thanks a lot, appreciate your time. time for your sector report. what are you watching today? cheryl: i wanted to pick up on eric bolling, if you look at stocks, the first slide in the oil contract all these names you

know very well, and this was the reverse of what happened, and through the last year, and yes jobs are being lost and good for the consumer and in the 401(k), in an index, s&p 500 names. charles: thanks a lot. greg point. americans are getting hit because of that. up next a credit crisis for a generation x, nearly half said credit cards are a financial survival told. in how many times has the average person moved in a lifetime, 8, a levon, 15, or 20 and the executive vice president knows the answer. but i keep it growing by making every dollar count. that's why i have the spark cash card from capital one.

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squeezing out gains and disney lower, at oil, $50.78 a barrel, oil is down four days in a row so that is big news, big sell-off. ali baba new all-time low, lifetime low, $76.57 and shake shack under pressure, morgan stanley cut this to an underweight and it is down 9%. more "varney and company" coming up after the break. 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 so you're a small business expert from at&t? yeah, give me a problem and i've got the solution. well, we have 30 years of customer records. our cloud can keep them safe and accessible anywhere. my drivers don't have time to fill

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charles: stocks went in to sell most of of news out of greece and of gun deeper into the red, off 176 points. we were up 20 points ended evaporated immediately. nasdaq russell 2,000 dropping down more than 1%, small caps, russell 2,000 off the most. we got to take a look at the vix, what is known as the fear gauge, it is up 12%, big move, reflects the anxiety among investors and now for this. 48% say credit cards now function as a survival tool for them and cheryl casone is on that. >> we talk about millennials, blue is and millennials to buy the business houses so they can

downsize. that hasn't been happening in housing, they are weighed down by debt and basically they're saying this is the new lifestyle, we depend on credit cards, this is going by and it is survival tool and bloomers as well, genesis 46% pay part of their credit card balance. those are the highest demographics of those that are credit card depending which is a bad sign. and the joy next group having trouble with wages and getting to work. charles: the ones the do have work are under a lot of pressure, the sandwich generation, glimmering generation, real tough sledding for them. >> 35 to 48. that is really something. charles: college kids and your

apparent living at home. >> kind of rough signs for the economy. charles: before the break we asked you if this question. how many times as the average person move in their lifetime? the answer is 11 times and that brings us is the next segment, you all celebrating their 70th anniversary. executive vice president stuart shown, you have a great business in this year of disruption from the hotel industry to taxicabs, hard for technology to put you guys out of business. >> it is the jet technology helps and we like to think of ourselves as a technology company, we have hundreds of software developers on the payroll. charles: i hate to say it but the old u-haul business somebody at an old wooden-can you hitch a ride that you guys come, why have so many software developers? >> customers expect a lot from

you all. gone are the days that a lot of people socially have the experience where there was a time in my lifetime where you couldn't count on an automatic transmission, times have changed, customers don't want to be behind the counter very much they want to take care of it all, and they have high expectations. as we have a lot of trucks and trailers to be in business and we do. charles: barrier to entry creates malt around the business. you have more people to use those fingers. i want to talk about business. apparently business is starting to get pretty good. talk about a different proxy, your business for the overall economy and the jobs market. even housing market because you heard people couldn't go to a new job because they couldn't sell their house. people are starting to hit the view alls and moving out, maybe that is a good sign of the doctor connecting. >> i think so. it is a proxy, people ask me

about that a lot too and i caution people against using it as a direct correlation. our business is life events, births, deaths, marriages, divorce, and new jobs, a lot of those happening when the housing market is not performing. i think the biggest economic indicator for the business is consumer confidence. people never moving, always moving to a better place one way or the other end an opportunity, they are more likely to jump forward. charles: consumer confidence from your vantage point? >> results are very good. you guys are the real experts. charles: before we go, the u-haul famous hash tag. >> this is our 72 year in business, my grandparents, we are a family-owned company and we want to keep it that way for a long time. one thing to celebrate the history of everybody that never moved is a unique american thing

and we expect to have that in our lives. you take a picture of the media. charles: americana for sure. 70 years and counting. up next defense secretary ashton carter is testifying before congress on the battle against isis one day after president obama said this thing will take a generation to beat and neil cavuto has a special interview talking with presidential candidate marco rubio today on could do no coast-to-coast. a preview in the next hour. a dry mouth can be a side effect of many medications. but it can also lead to tooth decay and bad breath. that's why there's biotene available as an oral rinse toothpaste, spray or gel. biotene can provide soothing relief and it helps keep your mouth healthy too. remember, while your medication is doing you good a dry mouth isn't. biotene, for people who suffer from a dry mouth.

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quote today,call liberty mutual insurance at see car insurance in a whole new light. liberty mutual insurance. >> a senate hearing is underway on the obama strategy against isis. washington correspondent blake berman joins us with details on the hearing. how are things going? >> contentious to say the least. one of the central questions in the senate armed services hearing is why are there so few trained syrians and iraqis on the ground fighting isis within their own country? the defense secretary testified the u.s. has only been able to train fewer than 9,000 fighters in all of iraq and just 60 in sea area. that led to this exchange between republican jeff sessions

and carter. take a listen. >> the strategy is to defeating isil on the ground in syria and iraq is to train and then enable local forces. that takes some time. >> general dempsey was training the iraqi forces eight years ago. i visit him in iraq. that was his primary responsibility. we have been training them for nearly a decade and that is not the problem right now. i think the problem is confidence within the iraqi government and the iraqi soldiers that they will be supported and victorious and if they had that confidence to get more recruits. >> carter said the 16 numbers not impressive as he sat in the problem in iraq is the training has been slow. he does point to the 5,000 air strikes that have taken out isis leaders and capabilities there. cheryl: contentious again.

thank you very much. if full four hours of free "varney and company" 9 and the books. we have more "varney and company" just moments away, don't go away. american viewers have been reluctant to embrace soccer in a general and now they are watching with's offering record numbers of huge thing there. i am sure liz will point out the pig apps is pretty big from the men soccer players. maybe that will change. charles: just a little bit. liz: there should be legislation to correct that. wrote on not being able to pay its debts. charles: which by the way they can't. there are a lot of greeks in problems and a sister to sister relationship happens might solve the problem.

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charles: we begin with the markets, the greeks and once again bearing no gifts at the meeting of a lifetime without anything new. and now we have a triple digit sell-off with the stock market with the dow and right now at the lowest point it has been since february. the s&p 500 and negative territory for the year, 2015 down year for the s&p and oil selling off huge. brad macmillan is c i o of commonwealth financial network and the continued pressure on the stock market feels like there are a lot of reasons for and they are mounting and a lot of people are waiting and looking for correction for a long time or at least a pull back maybe this is it. >> maybe it is. if you the get the technicals, flirting with the 200 day moving average especially on the s and p, if we break below that we might see technical selling. charles: a lot of viewers are

not technicians but want to read and down. it has to hold on the s&p 500. >> if we close below 20153 we can watch out. charles: there is no safety net after you break the moving average. >> i don't think that is the case. if you say that is strong support level, the other technicals, i went to the technicals for the long term, medium term we need to look at the fundamentals and they are still strong. charles: why are fundamental strong when gdp was negative, retail sales are sloppy and a lot of people's job growth, we had zero wage improvement and a slanted economic recovery so where is the strip that you see? >> i look at the total jobs created. we have seen total job creation of 3 million for the past six months, just dropped below that

this past month and is almost 3 million. we haven't seen that since the 1990s, we are seeing strong job creation. >> does it worry you the pace of job creation well below the 12 months of last year coupled with the fact the wages still moving sideways even lower, more people are working and that may go toward the virtuous cycle but not working with a lot? >> consumer confidence is going up. regardless of what we think people are feeling better overall. with the job creation numbers they are very strong, we will come back a little bit because that 300 isn't sustainable. we are seeing some moderation. we saw a week first quarter. the fundamentals are improving. charles: i got to tell you all sides make markets and there are a lot of people betting on big-time rebound in the second half. we better start seeing signs of a real symbol we appreciate 2053

and magic downside technical number. talk to you again soon. >> thank you. charles: all of this started with the actions from the greeks at the brussels meeting so we have to go to athens, bashed ashley webster who is standing by with the latest. ashley: could we have expected anything else from everything we are getting from what is happening in brussels? did the greeks show up with the plan? we understand they did that pretty much applied for the same thing that was rejected last week, the emergency 29, 30 billion euro from the europeans stability mechanism and they tried it last weekend it didn't work and now we are told we will be getting a proposal tomorrow. the greek prime minister will talk to the european parliament tomorrow, that should be interesting, probably the most important speech of his life but what does this really mean for

greece getting something done? quite frankly absolutely nothing, it is quite extraordinary day had the meeting in greece earlier this week saying we're going to brussels and have a plan, also returned within 40 hours of that no vote, we are looking good, nothing has changed camera chaos continues to rain, the situation back here in greece with that nonsense in brussels continues to worsen, the long lines of the banks, how long can the banks last without cash running out? getting pretty close. we understand many employees now are demanding to be paid in cash, some local employers don't have enough cash to pay them because the banks are closed. major companies are paying their employees in cash but it speaks to how desperate the situation is and there is no time to get things drag out. someone jokingly said what the e.u. creditors should say to the greeks is thank you for your

proposal, we will hold a referendum and get back to you in six weeks. charles: they may do that anyway. >> we would get hit with the greek flu. we export a lot of stuff into the heroes and. it is $540 billion, that is what greece bose. it doesn't just go in the air because it has been socialized. charles: the facility is -- liz: i am saying this is so important for us to understand they have to raise more money in the euro zone to pay off the greek debt taxes have to go up a lot of bonds in the market in the euro zone, that will will the bond market going forward. charles: helping fuel these deadlines is china. you are looking at copper. we want to know copper is at a six year low. a lot of people equate that strictly to china and the demand has been there the last decade or so, from running out,

building no more empty cities we will see. we want to look the shares of ali baba which is a proxy for the chinese economy, one of the biggest ipos of all time, that is at an all-time trading lower. getting slammed two days in a row. china propping up their stock market, they halted a lot of shares. liz macdonald, tom sullivan are here. one thing we don't -- listen. the market went up 150% in china without a lot of american fanfare but the rapid pace has come down 30%, $3 trillion in three weeks. >> manipulating the market and not just in china. that is the problem. europe has done it, we have done with the fed, manipulated markets always will seek even joy will be the real market. charles: this quickly? >> things go down faster than they go. charles: it feels like i don't

know why the chinese would manipulate the stock market instead of trying to manipulate the actual economy. liz: they have a rising middle class. the rise of the affluent in china. you have got to appease these guys, you have social unrest in china. charles: 60% of the new traders open on a weekly basis, 60% don't have high school diplomas. trying to spread the wealth to everyone via the stock market? >> secretaries at the front desk in japan in the 1980s were putting all their money in company stocks, same situation, exactly the same. charles: we have to talk about this, ash carter testifying on capitol hill about our strategy against isis. president obama told us last night will take a generation calling it a war of ideas. >> this will not be quick. of long-term campaign. a grave threat beyond the

region. ideologies are not defeated with guns, their defeated by better ideas. charles: bret baier joins us from washington. it sounded like we can't beat these guys, but the win for long-term ride. they have an ideology that is competing with other western spots, i disagree with it. a spread beyond iraq and syria as the president pointed out, middle eastern people to western nations, not native-born westerners. >> it is the mix. you are onto something but there's also the inspired folks, the people who take up jihad based on isis reaching out over the internet and social media. and some successes.

and a lot coming back injury. the long term is going to take some time. the most important thing today is defense secretary ash carter who testified within the hour that the u.s. is currently only training 60, 60 syrian fighters. they had 100 go through training already. now they are training 60. the president pledged $500 million to train 5400 in the first year. more than one hundred have been through. and syrian opposition fighters. charles: this is an embarrassment after the billions of dollars that went into iraq, this is the nation ready to defend itself, the legendary stories of isis coming in to these towns with their black flag and they're screaming and yelling and machine guns in the air, take off uniforms and plead

let me in your house, tell them i'm not a soldier can i can i see this, 60 people and hold down the fort. >> it is dismal. ash carter is getting grilled on capitol hill about it. you are right. iraq is a story by itself. but that the iraqi forces that was just abandoned. now with isis equipment and at the same time we have an iraq policy that prevents us as a country from providing heavy machinery, to the kurds. they are really head to head with isis. it seems like a backwards strategy that defense secretary carter is trying to defend on capitol hill. charles: how does he defend it? you wrote a subject for $500 million and we may get to a few more. how has he been -- put any lipstick on this pig? >> it is still a pig but he is

saying abroad limbs they have are with vetting. vetting these fighters because they are trying to make sure they're of the standards and not going to turn around on us. charles: serious stuff. thanks very much catch you later tonight. we are joined by neil cavuto and spoke with marco rubio. what did he have to say? >> he says you are rude to guess on your show especially those who come from corporate america. he was shocked you still have a job. no he did not. one of the things we touch on, they had this back and forth. and the senator is saying he has a job to do, donald trump doesn't know what he's talking about or policeing of the

border, not granting amnesty so he is standing tough on that. he is close to saying donald trump could be hurting the party brand but didn't quite go that far, he is in this race for the long haul the things he is making serious inroadss with big donors, the latest group of that, you have seen their ads on various networks, a pride that was raising money, $15.8 million today or others in short order and side funding vehicle helping enormously. and he will not be hurting for cash. charles: he came on very strongly, peaked in the polls a little early but for the most part it is still early. >> to that point being a senator is another thing that puts you added disadvantage running for president. you have to go back on trade deals and all that snow just when you're gaining momentum you have to go back and deal with these issues that a former

governor does not have to worry about. before we can't wait to see it, appreciate it. we will see shortly. senator marco rubio joining neil cavuto. we're hearing about another shark attack every day but what are the odds you can actually be attacked? we have the answer and talk to the guy who film's are expert shark week.

charles: the dow off 153 points. angela merkel just said there's no basis for negotiation with greece at this point but fair parcel of few more days to hammer out a deal. remember greece showed up this morning at this huge deal makes or breaks ford of deal with the same proposal it had before with the market hearing the news, so off mode and we have been there ever since. take a look at oil, a big sell-off yesterday continues

today, key support at 52, 51, 54, we have one when you might know about that gave it up. it was up big, had not nice rally upgraded by one of the wall street firms, a lot more room to the upside. might have a chance with a broad market coming back and look at his luck starting to sell off a lot but coming down from near all-time highs, deutsche bank saying take profits from a hold to buy and down the stock is going. what are your odds of winning the power ball lottery and they're going to get worse whatever they are because new rules taking effect in october mean you now have get this, one in 292 million chance of hitting the big jackpot. right now odds are one in 175 million. to make matters worse you have a better chance of getting killed by a shark. a lot better chance in fact. those odds just one in 3.7 million. what do you think?

>> i have a very strict rule. i don't spend $1 unless it is over $250 million jackpot. if it is $250 million i will spend a dollar to try to get it. the big jackpot is what people want. they want to win $4, that is not winning. charles: you don't want to win $10 million, is not enough. on this shark thing we don't make light of the subject because they're really have been several shark attacks. you see them in the news lately so who better to discuss this than shark week filmmaker, welcome to the show. people say you have one of the coolest jobs out there. how did you get into this? >> first time i ever saw a shark on television by was 7 years old boy watching on tv. appearance tell you don't believe everything you see on tv so first i thought they weren't real. discovered they were real creatures living in the oceans,

just fascinated. charles: shark week gets bigger and bigger. >> i got a call the want to go to cuba? and we went there looking for a big great white shark, you have to watch the show to find out what we found but we also filmed great whites in new zealand and australia and south afric and different species and it looks pretty awesome. liz: you have been bitten by a shark? >> it is the nature of those game. i have had sharks snapping. they are not militias or trying to get me. i am putting myself in these situations. liz: what should you do if you are chased by a sharp? >> just -- [laughter] >> if you see a bear all you

have to do is run faster and then your friend. charles: they need to be provoked but we have seen these shark attacks where people are frolicking and in really shallow water and maybe the sharks to intended to eat the more whenever but they caused enormous harm. what do you say to people who are reluctant to go to the beach or get in the water? >> the sharks domain. they live there. a lot of these attacks if you look into the situation these people us winning by fishing piers and the water is murky, a lot of bait fish in shore. not that there maliciously moving in to hunt people but these environmental factors. >> getting people in waist high water, they are not swimming out to see. >> that is a common misconception. sharks have cruised the coast of our planet. liz: they hide in sandbars. you can punch in the eye or the knows? >> if you have a shark attached to you the eyes and gills are quite vulnerable. talk about punching a shark in

the nose, the nose is robust. people sometimes miss gage, underwater -- >> andy has been working with shark so long he is suffering stockholm syndrome. won't go against the sharks on this one a matter what we say or do. great job, look forward to shark week, thanks a lot. did you see this video? he chose the that the finish time and loses the race. he spoke about it and we do you

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hear from him. that is next. charles: let's check the big board. markets not liking the news out of europe, greece shows up empty-handed and angela merkel sound a little peeved, markets are down turning negative and had turning lower and lower, oil hammered yesterday, picks up where it left off down another 2%, $51.39 the you see if this? air force major payne, no relationship to me, it was so close, up for most of the race in atlanta, 10 k this weekend and started to celebrate a little bit too worthy and he lost. fox and friends spoke with him this morning. >> it was close the entire way.

it got comfortable and took my guard down and assumed i had the race in the bag and he caught me by surprise at the finish. charles: we want to get to this. the irs wants to get rid of free tax benefits aimed at helping people cover health care insurance costs. gerri willis is our irs watchers and is always busy, why would they do this? >> i am always busy, so crazy. private businesses, a small-businesses find a solution employees can't afford health care, they set of these accounts, put money in pretax dollars for the unemployed written these employees use to buy insurance. wonderful thing, the irs says no, we will fine-tune $100 a day for every employee, the $86,500 fine for a single employee don't do it anymore. of the force $36,000 for a year. >> puts you out of business.

charles: what is the idea behind it? >> you are asking a really good question. what i have been told not by the irs because they are not responding to our questions that people who have studied this is it seems to look philosophical. they want these companies to work through obamacare the way they wanted done or do nothing at all. >> it all manner of businesses? if you have less than 50 workers you don't have to pay the mandate tax but with this you have to pay a fine if you listen to them? >> this is obvious what they are doing, truly saying you do obamacare or we will make bad for you. >> wasn't even in the affordable care act. the irs made up this will after the fact. >> only applied as of last week. two bills in congress people across the aisle working with each other, when in the house and one in the senate, democrats and republicans who are trying to combat this down.

charles: small-business is are the things keeping us -- >> the private sector solution and the government takes away. charles: we appreciate it. it is hard these days to say there is no hypocrisy in hillary's campaign. we have media watchdog brent bozell next, he has something to say about double standards in political media coverage out there. of the reactors national interview happens to be with a friend of hers, one of her former aide. when a moment spontaneously turns romantic why pause to take a pill? and why stop what you're doing to

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>> we are down 200 points in the dow jones industrial average. headlines out of brussels. greece went there empty-handed or with the same proposals rejected before sending the market can do a tailspin and now angela merkel laid down the law. the plot continues to thicken. ashley webster in athens for the latest. ashley what is merkel saying now? reporter: well the german chancellor has to take a strong and firm hand. she said he is and what she has seen so far and what we can tell she hasn't seen anything good she says this has to be dealt with in days not weeks. certainly she understand the urgent need of all of this in the great prime minister will be

meeting with merkel and the e.u. president jean-claude juncker. president obama has been speaking with tsipras two in the great prime minister are proposing to president obama. an interesting develop and they're hoping to win support of the president and maybe give more weight when he tries to sell it to the european creditors. as it stands there is no real deal to discuss at this point. greece has asked for 29 $30 billion stopgap of euros to get an brew the next couple of years. we don't have any firm proposal on the table. the german chance to really laying down the love which we expected her to do. >> they're a natural things in

negotiations. to the point of getting something done and now the market is falling apart. it's a lot, buddy. great work. see you shortly. now i check on the shares of oil. oil pricing a key support number 5158 right now. the first time we've been at this level since april 10th. gas so far not react to them but right now a gallon of regular $2.76. just joins us from chicago. how soon before gas follows are my making an incorrect assumption? >> you are absolutely right. i would point out charles has rallied back half a dollar in the last 10, 15 minutes. as you point out the six lynch turned on oil you see it is really falling on that after having gained some of its losses back more recently.

gas right now, prices aren't that bad. 276 for the average gallon. not so bad but we are going to get even more pressure to the downside. i know you talked to patrick dodd earlier, my gas buddy in chicago. he said yes lower gas prices are coming to don't get too impatient. it might be a little while. >> the prognosis is funny of $2 a gallon prices but don't expect this to show up tomorrow and 10 cents to 15 cents drop. you will take a matter of days. charles: greece, china potential iran supply coming in in 1:00 today charles the energy department inventory report is probably going to be a bearish as well. all signs pointing lower for oil and gasoline. charles: although some people are buying. the number one thing people buy right now was oil.

we will see because right now it's in freefall. thanks a lot, jeff. donald trump's controversial comments about mexican immigrants have been out reaching the main tree media and several businesses. in the meantime, bernie sanders had made some outrageous comments that have gotten off scott free. joining us is read bozell at the media research center. right off the bat, this is a double standard isn't it? >> yeah. it is. we have been saying all along what is going to happen in the 2016 campaign. 2012 was a year of character assassinations. it is going to be even worse in 2016 because in 2016 there's a real chance they'll capture the white house and a possibility of

undoing the obama agenda and most of everything in their power to stop it. bernie sanders running sometime ago about how women fantasize about rape appeared first in media outreach repeated day in and day out. the reason it is not fair is because they are going after donald trump on the statement he made about immigration. this is why the trust factor in the media is at an all-time low. >> brent bozzell, tom sullivan. i don't know your view on this, but a lot of journalists are out raised about hillary's campaign ropes around them. and yet the journalists over there at the parade did nothing. they should have thrown the ropes over their heads at what the two last questions. which is said and will this make a difference in the journalism community to say we are not hillary for trying to lasso us like a bunch of cattle.

>> it's a good question you are asking an something where the media have become embarrassed of the metaphor of the way the clinton camp is treated and wrote them off. this has been going on since 01 where she refused to give them anything whatsoever. like cattle, they go along with this and take and they taking this abuse. the best they can get is a silly reporter on cnn telling the world that she heard hillary h. h. up old labour radio. that's the best they can do. she doesn't want talk to them because she wants to control the narrative completely and they are going along with it which is shocking. >> so far she has been teflon but i think the moment will come when the american public demand more. thank you for the work and we appreciate it. the dow was filing big-time.

china has been getting hammered big-time and that is where you get the big dominoes if you will. but china for american presidents are to joins us now. derek for over a decade we have heard china was going to implode and fall completely apart. it is a house of cards. we can go on and on. every time we get to one of these moments, this is it. is this it? >> it is probably not it. china's stock market matters to 90 million people in china. at that still leaves 1.3 billion who it doesn't matter to you. this feels like a collapse that most people in china aren't involved in the stock market and most people are involved either. >> nobody has dominated the market in a lot of public opinion. people are saying analysts like

yourself who look at this is emblematic of a problem and perhaps a domino within china. the wealth effect evaded a large spot the population. the chinese government saying get it through the stock market. we will share the wealth. that goes away and some of the other things are rebuilt and implode on itself. that scenario that script written out and sounds plausible to a lot of people. >> two different things. i completely agree with this scenario with regard to the stock market being a distraction from china's fundamental problems. the government was doing the magician's trick is to look over here. stop stop. it doesn't work for very long may have to go back to face the problems and not a serious challenge for them any concern for neighbors. china is heavily integrated. >> there is a lot of

hyperventilation that china would overtake the u.s. is the world's biggest economy. "financial times," marketwatch, "wall street journal" bloggers. you'd think that would have been? s a technical side of 15 people found the measurement rigor than the u.s. it doesn't make the slightest bit of sense. and the price cocoa side is china will continue to grow and catch up? and will sell short of the united states. we've seen this before. we saw with japan and the soviet union and its unfolding again. treated today 1:00 the third and the arrival in many areas. we appreciate you coming in. the market actually went up while you're talking. >> ray. i will combat. charles: we may have feedback for the next three hours tomorrow. the dow was down 300 points and of course what triggered it was greece shows up at the eurozone meeting to save greece about a

new plan. a six-year low, a lot of people associate that with china. a growing economy and why it would be a six-year low. plus the perfect example of how money can't buy everything. indiana pacers was a time to the san antonio spurs my favorite team in the name of power ford david west what he did is amazing and inspiring. it might shock you. we will tell you about it next. super poligrip. super poligrip holds your dentures tightly in place so you never have to hold back. laugh loud, live loud, super poligrip.

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>> stocks have been under pressure throughout the day today. the dow jones industrial average down 157-point. we have band done. the s&p negative for the year 2015. watching oil down the fourth day in a row. 5165 off the lows of the day. under pressure once again energy hitting new lows include an mobil, exxon and conoco. greece arrives with a proposal pressure on china and slower growth there. iran may have lower supply once a deal is put together. gold miners getting hammered with the surging dollar with the two-way sun commodities. you see the gold miners under pressure. pat flat down over 6%. under pressure.

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weintraub died last night of heart attack. oceans 11 karate kid. journey matthew cs professor. just tell us how big a loss this is for hollywood. >> nicklaus to hollywood. charles weintraub was that prolific -- he will be remembered by many here. many are saddened by the news. don cheadle talking about god maker, rainmaker. they are spoken about how he was such a wonderful irrepressible friend. charles: is nt or wasn't he rather a throwback to the old days that the studio system and a handful of people had the power. you couple that with the modern-day visionary. it seems a bridge to where we are from old hollywood to new

hollywood. >> he was. he was definitely a bridge. many people didn't know he started off as a new music producer. so not sure biber streisand and bob dylan. after that he went to become the chairman of the el and in 1996 after a shuffle he started his own production company where he went on to be responsible for make ahead like oceans 11. charles: thank you very much. hollywood has lost a legend jerry weintraub at the age of 77. do unto others as you would have them do unto you. apparently that might apply to hackers. it seems like it does. a company sells hacking software to governments around the world. and guess what they just got hacked. more of that in a moment. and instantly open your nose up to 38% more than allergy medicines alone. so you can breathe and sleep.

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really not always about the money. rejecting interest from the wizards, cavaliers, free agent david west taking an $11 million pay cut to play for the san antonio spurs. he will likely be paid to veterans minimum of 1.5 million ducks. he wants to play for a championship. you hear that all the time and rarely see it. >> here's the deal the guy is 34 getting to the end of his career. i've got to tell you for those of us not beginning our careers you get to that point sometimes where you say i'm not doing this for money anymore. i don't need the money. i don't want to have appeared he was not unhappy with larry bird in the management. charles: the other team is offering him a lot more money. >> i don't like you. i don't like working for you. i would do something that makes me happy.

>> just like the pacers. charles: by the way before the hackers started getting hacked, there is a company that sells software that allows companies to hack into computers. by osterman italian surveillance firm surfaced on sunday indicating the surveillance technology to dozens of countries on the sudan egypt russia. some of the world's best hacking experts can be hacked. nobody stays. >> that's 100% true. charles: okay, see you next time. how does a hacking expert at hacked? >> it comes down to the main reason. passwords. i saw the documents that were taken off their site. my goodness, their logins were symbolic at men. everyone uses the login admin.

>> they had a better sales team and technical team. >> this is what they do for a living. they go around hacking people. they were not expecting to be hacked. the company who did this act to another company years ago. gavin international is a competitor to them. it is baffling because you see someone else get hacked. you've got to prepare yourself. charles: the company that hacks them, you're good, you're smart but how do they get paid? >> to do a lot of stuff on the site as well. we will give you x amount of money. we've got to get access to the computers. charles: nobody is safe. look at this. breaking news that just came in right now. donald trump, his statement from his company saint trump and the pga have agreed not to hold the grand slam of golf at a trump course this fall.

live it is in los angeles. they are calling it a mutual decision. >> this is how trump is going to get out of the presidential run. he will say this is costing me too much money. i have to take care of 10,000 employees. everybody is throwing me under the bus. i am now. charles: sardi admitted him that has cost him more than it thought it would financially. the 401(k) employees not necessarily one that someone would be the champion of workers. he's opened himself up a time. is it ego or is he going to be this frigid? he's becoming a cold hero. there's the gop that loves this guy. never apologize, never back down. >> you say he should apologize immediately. charles: i think he is spot on there. you make a mistake something

off the cuff off the teleprompter. clean it out. alright guys, more after this.

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>> the most important thing today is from defense secretary who just testified that within the hour that the u.s. is currently only training 60, 60 syrian fighters. they've had 100 go through the training already, now they're training 60. now, the president pledged $50 million to train 5400 in the first year. so far we're training 60 and 100 have been through. it is decimal . neil: that's an under statement, now, here's some of what you guys have told us on facebook. this is about using credited as an emergency tool that we talked about the big story. well, cars are nothing more than a tool that will take the food right out of your mouth. years ago i cut them all and said if i don't have the cash

to buy, then i simply don't need it. neil, cavuto is next, and this exclusive interview, neil, take it away . neil: thank you very much, i am neil cavuto on a day that markets are all over the place. we're following a lot of developments, even though we're down 118 now, charles was like reporting we were off almost 200. on some disappoint initially that the talks ended in europe and brussels with all the big europeans with no package in sightly right now for the greeks. and of course the greeks right now are the ones bearing their own gifts, own proposals, and to get some of that cash. they're not getting today, that was originally agreed unfavorable. also we heard when it comes to puerto rico, another closer problem to the united states $72 billion in debt, who's payments the governor says cannot be paid. a court ruling that you can't go through the bankruptcy