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tv   Varney Company  FOX Business  March 3, 2017 9:00am-12:01pm EST

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>> diane carter. >> it's fascinating the russian thing plays out. maria: dagen. >> no more mistakes with the trump administration, especially. >> the media has their shoe on your neck. have a great week and everybody we'll see you sunday. here is "varney & company." stuart, to you. stuart: much ado about nothing, that's a comedy by william shakespeare written in 1598, it's about political intrigue. it could have been written about today, couldn't it. gorge, everybody, much ado about nothing. no wonder why politicians are held in low esteem. jeff sessions during his confirmation hearing he did not fully answer a questions about meetings. uproar, d.c. is consumed by it. president trump calls it a witch hunt. he sayhe has total cfidence in the attorney general. on the other se of the aisle, senate minority leader charles
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schumer literally says he has a pit in his stomach about this. the quote, there cannot be a scintilla of.about the impartiality. he said nothing about the bias of loretta lynch and clear support of hillary clinton. the question is, how much the political storm will interfere with president trump's agenda, that concern reflected on the market. had dropped 100 points yesterday, but it will open slightly higher today. big picture, democrats will try to block all things trump. state of play, a politically motivated attack on the president a day after the speech to congress. my opinion and "varney & company" is about to begin. ♪ >> you're going talk to your friends.
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you're going to be sending them funny pictures back and forth. it's your primary mode of communication with your friends. >> a lot of the content on snapchat doesn't strike me as absolutely critical and has the chef life of a banana. ment. stuart: i'm sure ought yens is paying attention to the left-hand side of the screen and because ashley webster and liz macdonald are making fools of themselves courtesy of snapchat. stuart: and this is the highlights yesterday. and in premarket action, that stock is holding all of the gains that it made yesterday. it got a 44% pop on the first day. the doubters, however, are already starting. one investment firm says, sell that thing. have i got that right, lizzie. >> yeah, this thing could plummet more than 50%. why? it's trading the a multiples higher than facebook introduced
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at or netflix, what a smart time to come in, no profits for the last five years and you're coming in on the trump rally. this is really smart of these guys because now they're valued more than hp or cvs or kroger. that's how their market value is trending now with no profits or losses, it's hemorrhaging money. ashley: timing is everything. stuart: we're on it and we'll follow it throughout this day and see where snap goes this morning. i'm going to get back to jeff sessions and what i'm calling much ado about nothing. here is the attorney general on tucker carlson last night. roll tape. >> ukrainian ambassador had been into my office for a meeting the day before so we had a little disagreement over the ukrainian issue. i don't believe anybody that was in that meeting would have seen or believed i said one thing that was improper or unwise. i didn't have a meet with him a couple of times, tucker. i met with him after i spoke and we chatted on the floor of this meeting and then he called
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to meet with me. i literally met with 25 ambassadors during this period. stuart: ladies and gentlemen, brace yourselves, judge jeanine pirro is here this morning sitting right next to me. i said a provocative thing there, apart from brace yourself. i said much ado about nothing. what does judge jeanine pirro say about that? >> i think that general sessions did the right thing, he had to recuse himlf. it is much ado about nothing, but at the same time we're now in a situation where russia is akin to the devil now. nobody talks about the fact that this ambassador whatever his name is was at the obama white house 22 times. no one talks about the fact that it was obama who said in that off mic moment to medvedev, after the election
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we'll talk more. or uranium to the russians. stuart: it's pure politics. >> pure politics, but this is strap in, this is the next four years. anything and everything that goes on is going to be blown out of the proportion. and clair mccaskill, what a fool. she's horrible, she did the same thing. but eric holder pursue perjured himself without a doubt with regard to fast and furious and loretta lynch meeting with the president while she's investigating his wife. that's serious stuff. this is for perception to make sure that no one thinks he's doing anything wrong. stuart: you've had your piece this morning. and-- >> i can't wait to finish, i'm going to have a cup. stuart: we'll have more for you. i want to bring in lisa booth. >> the judge is a tough act to follow so-- . [laughter] >> very true, lisa. >> hey, judge. stuart: here is my question i'm
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saying much ado about nothing. could it interfere with the obamacare repeal and replacements and tax cuts? >> i think not just that, but pure obstruction from the left. they're energized by their base and seeing that in the historic delays of president trump's cabinet nominees and mind you, they can move those forward with a simple majority due to the rules change. so can you imagine what they're going to try to do when they're able to engage the filibuster? we've already seen what they're looking to do in regards to judge neil gorsuch because we've seen prominent democrats moving the goal post somehow there's a 60 feet threshold when there isn't or shouldn't be. stuart: our viewers, largely investors, very much invested in the stock market on the understanding we would get tax cuts this year. are you saying the democrats are playing politics successfully and could interfere with that schedule? is your answer, yes, they can
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and will? >> it depends how republicans approach those issues from a procedural and legislative standpoint, but, yes, i mean, the democratic party can use filibuster to try to block, delay, or harm president trump's legislative agenda. and i do think that they should take heed to what you just said, the fact that we've seen the stock market hit beyond 20,000 for the first time. the fact that consumer confidence is at a 12-year high. the fact that there's all of these positive markers for potential improvement in the economy, so, i think that put president trump and his administration desperately needs to do is really put pressure on ten senate democrats who are going to be running for reelection in states that president trump won. stuart: that's the achilles heel, is it not? 10 senate democrats up for reelection next year, they come from states that backed president trump in the election. they're going to be very careful going overboard with obstructionism. >> they should be, but i also think what we're going to end up seeing, a lot of the democrats not just in ten states, but seeing primary
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challenges to their left. we're seeing their base highly activated so i think it's going to be a political calculation by a lot of democrats running what they're more concerned about. are they more concerned about a primary challenge to the left or running in some of the red states that president trump won? so i think they're in for it and also, stuart, one more thing to point out, there's an associated press report not too long ago about the fact that those ten senate democrats are also avoiding doing town halls because they're feeling this interesting political pressure. stuart: there's a hoping there. >> from the left and the right. stuart: there's an opening there, i think. lisa booth, thank you for joining us on a friday morning. >> thank you, stuart. stuart: let's move to money. the dow coming off a 100 point drop, haven't seen anything like that in a long time. i think a third of the dow's drop was caterpillar. they were searching company headquarters. i believe this relates to a possible taxation --
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tax evasion. liz: in swiss land they were housing their profits, allegations of the irs. they raided headquarters in illinois. stuart: and down again this morning. liz: breaking news, the ceo apologized to his workers over the raid yesterday. stuart: okay, one third of the dow's decline was caterpillar's 4% drop. it's a dow stock. thanks, liz. back to judge janine. here is the story, 10 illegal immigrant members of the notorious ms-13 gang indicted for violent, violent acts, including the slaughter of two teenage girls. one of the gang members was previously deported. judge, back with me, please. here we go again. >> it's no surprise. you know, i should tell you, stuart, when there was all of this influx from central america and obama was saying, you know, we've got to let them in, be christians and all of this other stuff, i called the
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alarm about the ms-13 gang members, as a d.a.-- >> you dealt with them. >> absolutely. they are the most vicious of gangs. initiation requires that you beat someone to death in front of other gang members. these two victims, and the one on the right who was in high school, there was a back and forth over social media, that was enough to infuriate them, put a hit on her as they call it, a green light. stuart: wait a second, are these ms-13 gang members now going to be defended by sanctuary city mayors, is this going to happen? >> absolutely. they're all being defended. and ergo, they have more rights than the rest of us, the fact that they broke the law to come here, continuously break the law, we have to give them sanctuary because that's who we are, hogwash! these two victims are a sign of what's to come in this country in any sanctuary city in any sanctuary state and it's about time that we recognize the danger and that's why we need donald trump and law and order in america.
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stuart: and that is why judge janine, i believe, is number one on the saturday evenings 9:00 on fox news channel. >> thank you. stuart: number one for the entire day. >> all cable. stuart: 9:00. check this out. i find this fascinating and i remember this. a petrie dish filled with 90-year-old mold. ashley: you remember that. stuart: with the story, that sold for $50,000 in london, why? it's not just any old mold. this was used by dr. alexander fleming to make the first dose of penicillin, okay, remember it well. the next case, the governor of maryland declaring a state of emergency over the opioid epidemic in his state. more on that coming up. and this, house republicans reportedly have a secret obamacare replacement bill hidden under lock and key. senator rand paul went searching for it, rolled the photocopier through the capital.
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and why can't the house and senate work together on this one. we are on it. more varney after this. why pause a spontaneous moment? cialis for daily use treats ed and the urinary symptoms of bph. tell your doctor about your medicines, and ask if your heart is healthy enough for sex. do not take cialis if you take nitrates for chest pain,
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>> uh-oh, profits and sales fall short on costco, they are, by the way, raising membership fees. the stock is down 3.7%, a big drop for a big company. however, higher sales at the discounter big lots, that worked this time. 5% up on premarket, big lots. now this, democrat senator clair mccaskill made headlines and claimed she never met with russian officials as a member of the armed services committee. i've been ott armed services committee for ten years no call or meeting with russian ambassador ever. ambassadors call members of the foreign relations committee. ashley, was she wrong. ashley: she's wrong. we have the evidence. let's go back to 2013, senator mccaskill without this tweet.
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off to meeting with russian ambassador. arbitrary cruel decision to end u.s. adoptions even those in process so apparently she did. now, we have photographic evidence if she claims she never sent that tweet. there's a picture of her with the russian ambassador and there you have it. stuart: this is all about whether jeff sessions met with the russian ambassador, before the election. >> she tweeted i never ever in ten years have met with the russian ambassador. oops. stuart: that's an oops. thanks very much. back to attorney general jeff sessions, democrats say he lied under oath during his confirmation hearing, when asked about ties to russia. i say much ado about nothing. let's see what senator luther strain says from alabama, the man who replaced jeff sess in the senate. i say much ado about nothing and you say what? >> i totally agree, it's much ado about nothing.
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it's part of a strategy you saw played out in jeff sessions confi confirmation hearings and they're focusing on much ado about nothing. and i think it's a broader look at the administration's. >> will it affect the schedule? >> i don't think it is. we're working on repealing and replacing obamacare and working well on that. we're trying to get neil gorsu gorsuch confirmed to the supreme court. this is a strategy that democrats are working across the capitol. stuart: about working in the senate and house on obamacare. the house is accused of locking away a bill. and rand paul in the hallways
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from the copy machine. it sounds funny and odd. can't you guys in the senate work with the guys in the house to get things together on obamacare? >> the good news is we are doing that. we're working closely with the president and white house and toprice and hi. and the new hhs, and with the house leadership and a leadership in the senate. we're working together. >> don't you want to see the house plan? that's a starting point for working together, isn't it? >> i think it absolutely is, what is going on, i can assure you behind the scenes, a lot of give and take and sharing of information. the idea that there's some holy grail bill sitting somewhere in some office building that's stat and has the answers to all the questions i think is just not how the legislative process works. that's not what's going on here. as issues change and solutions are found, changes are made, and that's what's happening and it's the top priority here.
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>> i want to raise an issue, very close to my heart, as our viewers know. i operate a tree farm. under rules from president obama, the epa, if i want today move a rock within 20 feet of a small stream i've got to get the government's permission, that's the waters of the u.s. rule. >> yes. stuart: i believe you're gung-ho to get rid of it as am i. make your case. >> i'm sorry to hear about the problems you've had, doesn't surprise me, it happens to farmers and citizens across my state of alabama. i was attorney general of alabama for six years. i worked hand in glove with the new epa administrator now, scott pruett on the waters of the u.s., on the clean power plant rule and many other issues that are oppressing the american people. our economy and frankly, our personal liberties. so, one of the first votes i took in the short time i've been here is to confirm scott pruett as the epa administrator. he brings a common sense rule of law answer to that agency and you've already seen relief
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in terms of eliminating and doing away with the waters of the u.s. rule. stuart: i've been accused of grinding my own ax and i'm grinding it now. >> i'm cheering you on and hearing you. stuart: thank you for joining us, senator. great to have you here. check the futures, are we going? down 100 yesterday and we'll open up well above 21,000, that's the news this morni. here is more for you. get this, ticket prices for the chicago cubs home opener surging after the team's world cup win, up, what about 150%. ashley: oh, yeah. stuart: from last year. we'll tell you how much you'll have to shell out for a seat at the game. more varney after this. my business was built with passion... 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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>> here is where we're going to open this morning, ever so slightly higher. okay? 100 points down yesterday opening up a little bit this morning. i want to bring in economist brian wesbury. a key question. does the market go down if all of this political storm in washington interrupts the legislative schedule of obamacare repeal and replacement and tax reform? market down if that schedule is interfered with? >> yes, probably.
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however, stuart, having said that, profits are rising, they're going to be up somewhere between 10 and 20% in 2017. the stock market is still cheap, given where interest rates are, it's still cheap on a long-term valuation basis. so, they could go down, but as long as we don't get bad policies, which i don't believe, we might just stymie good ones, if we don't get bad ones, i think this market keeps going up. >> fair point there. the market comes back up. we'll bring you back at that point. look at snap premarket, nice gain yesterday. it's going to go up again at the opening bell today. we're looking for maybe a 6% gain on top of yesterday's gain for snap at the opening bell. overall, we'll be slightly higher, snap's going to be up nicely. back in a moment.
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>> all right. 40 seconds to go before we start trading this friday morning. we're coming off the first 100 point drop for the dow and in i don't know how long. it's been a very long time because this market has pretty much gone straight up since november the 8th, but it did drop over 100 points yesterday. some of that drop, about a third of it was accounted for
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by one dow stock, cast pillar. the feds raided the headquarters, the market didn't like that. stock caterpillar down 4%. that hurt the dow to the tune of maybe 30 or 40 points of the so, we did have a loss yesterday. how are we going to open up this friday morning, i'll tell you right now because it's 9:30. we're off and running. which way are we going? we're up 5, check on the left-hand side of your screen. a lot of green and red and mixed market in the early going. i call it absolutely dead flat and down and now it's up. i think i'm safe, i think i'm very safe on this. we're absolutely dead flat. a lot of people are tuning in this morning, very worried that the 100 point drop yesterday is the start of a cascade to the down side. let me reassure you this friday morning, we're up 4 points. not a huge gain. >> we'll take it. but we are up. okay. up 7 points now, 21,000 is
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holding and the dow is almost evenly split between winners and losers. okay? >> what have we got in terms of stock? i want to check snap to start with, please, the gains since-- good with my fingertips there. show me snap, please. as of right now it's reached $26 a share, it's up another 6% on top of the big gain yesterday. why is it up today? main reason, nbc universal made a $500 million investment in snap. when that news got out, it started to move up a bit more. how about facebook? that stock remains very close to an all-time high. just a couple of points away from it, fractionally lower this morning. i think it's pretty much the same story with apple. again, an all-time high reached recently, it's at 138, 139 right now, very close to that high. all right, there you have it. friday morning, end of the week, we're up just at the opening bell.
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ashley webster, liz mcdonald, jeff sika, brian, a very full screen. everybody will get their two cents in. let's start with jeff sica and you do not like snap, am i right? >> no, you're talking about the other technology companies like amazon and facebook. the major difference is that amazon and facebook are profitable technology companies. snapchat is a mirage. this is a company that has a valuation of $33 billion after yesterday, that lost a billion dollars in the last two years and has been losing subscribers and not only that, you have a company that essentially is focused on the millennials. and the millennials have proven, as a generation, that they're fickle people. >> you're talking it down and it went out at 17 and now it's at 26. less than 24 hours later.
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>> my compliments to the snap chat management who picked the absolute ideal time to go public before the market actually wakes up to the fact that valuations mean something. >> okay, so jeff sika, we can put in the minus column. he does not like snap. >> scott shellady, which column are you in. >> i think i agree with jeff. i think it's going the way of the rice crispies remember? snap, crackle, pop it's gone. stuart: wow. >> and the subscribers base is stagnant and it's a one-trick pony to me. everybody asks me is it facebook or twitter? it's neither, it's go-pro so be careful. stuart: two very damning analyses there. next case, the world's largest technology investor. they're preparing to ramp up his bet on the trump economy. he's with softbank, he's the guy at softbank and weighing
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several major possible deals for sprint. this is-- tell me more about that. >> softbank owns sprint, maybe a hookup with t-mobile or comcast, he's saying more, wow, the u.s. is behind on broadband and it's behind denmark and latvia and south korea in terms of broadband speed. you probably noticed it when you binge watched "the crown", he wants to bring the digital download speeds up, increase it. stuart: there he is with, i think it's president-elect trump at the time back in december last year. at that point he pledged 50 billion. what's he got, how has he got? >> 50 billion and this is $100 fund he has, he's pledging. i think what he's betting on. he's betting on two things as liz said, the infrastructure spending on the infrastructure
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and also betting on deregulation. if he gets deregulation, he could merge the companies somehow. stuart: we're not dealing with sprint stock, that's not what we're dealing with. what we're dealing with is a vote of confidence in trump's ability to grow the economy, right, brian? >> i'm going to give him perfecredit for perfect timing and great investment, i think foresight. the united states is poised for an explosion, continued explosion in technology, sounds like he's going to be in the middle of it and deregulation will help. stuart: this is fascinating, it's the exact opposite of what we hear on the political scene where it's all mayhem and doom and gloom, the guy is terrible, but look what's going on, we're up 27 points on the dow industrials, 21,029. now, caterpillar stock, let's deal with this. it dragged down the dow yesterday because caterpillar is a dow stock, the feds raided company headquarters. this may relate to a tax
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evasion allegation. caterpillar up a little bit this morning, not much, but that's helping to stabilize the dow. as of right now, we're up 26 points on the dow jones industrial average. 21,028. got it. 27, got it. now, individual stocks. profit and sales for short at costco, membership fees are going up by $5. the stock is down again, 3% lower this morning. look at big lots. better sales, it's a discounter. better sales, it's up 4%. i want to get back to politics and money, if there is any hint, and i've asked this question already to brian and i'm going to ask it again, if there's any hint that politics intrudes into the legislative schedule, then i think that's a negative for the stock market. nicole petallides checking out a sentiment on the floor of the new york stock exchange. what are trars sing about the president's agenda and political turmoil? >> right, i have to tell you, it's a very fair and poignant
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question because we have seen this bull market run since the day that trump was elected in november. that being said, i have to tell you, the majority of the traders that we spoke with here on the floor and outside the building seem to say one theme and the theme is that it's baked in. to your point, keith actually said if we find out that his plans will be delayed again, we know they're going to be delayed, nothing happens fast, he said it would be a negative, but not a disaster, like some are suggesting. in fact, he said, buy the dip. john corpina says we know the plans are in place and progression is underway and it's going to take time and again digesting that. implementation, they have to believe it and that bull run. as long as you believe it, the bull run continues. stuart: got it. brian, repeat what you said in 20 seconds that this market
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really is all about profits going up sharply this year. >> right, there's three courses, right? policies can get worse, they can stay the same or they're going to get better. they're not going to get worse. that's really good because profits are rising and that's what's driving stocks up. buy the dips. stuart: that's dramatic ap straight forward and declarative. we kind of like that. here is another name for you, boeing shrinking its seattle area work force by at least 1800 jobs this year. they're trying to streamline. they do phase competition, and the stock is virtually unchanged. the trump administration is taking bids on the wall, the mexico cement company, cemex
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could make bids on the wall. >> they're looking at costs between 20 and $30 billion for the wall. i mean, to me, this is a government project basically, and the fact that there is contractors actually willing-- i'm in that peripherally in that business, contractors willing to bid and have this agresing bidding process, it's inspiring to me. stuart: wait a minute, wait a minute. ashley: donald trump is all about american jobs. shouldn't americans build the wall for crying out loud. stuart: they'll build it, but will they supply the cement? i can hear somebody laughing in the background, who is there? >> i'm going to bet that it comes in ahead of plan and under budget. that's what i'm going to bet. stuart: liz. liz: can i make a politically incorrect joke? turn it into a billboard and-- >> a mexican cement company says they will provide cement for the wall.
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>> let snapchat build it. liz: the vanishing wall? [laughter] >> here it is ladies and gentlemen, working on its own home security camera, is this the alexa. liz: yes, it is. stuart: with a camera. liz: that's right, so people are worried that alexa is going to listen to you and now a security camera in there? here is a business model for amazon, it's brilliant. i don't think people realize what amazon is doing. it's watching the websites and building what people want and going into the home security space. stuart: so it can surveil a room, for example, that's what it does. liz: that's right. >> that's one of the key features of amazon, they have the best logistics in the world tracking our behavior and understanding behavior. they're a behavioral company and like liz said, this is a tremendous advantage because they get to see what's selling and they get to enhance that. liz: where is apple on this? >> good question. >> remember when they used to do just books and everybody
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said, they'll never make it, you can't sell enough books. jeff bezos is brilliant and that company is unbelievable, it continues to grow and i think it will. stuart: and he detests donald trump, our next case. ashley: yes, he does. stuart: more on amazon, blaming an internet outage on a typo. ashley: an engineer, one guy going, we've got problem with billing, maybe if we push this, shut down the internet to about over a thousand websites, it was basically a typo that took out a lot more than this guy intended. i'm not sure whether he's still with amazon, but it shows you how one errant push or click can knock down the internet for so many people. stuart: i feel much more secure now, a fat finger from amazon. remember the fickle finger of fate? rowen and martin's laugh-in. i'm much too old. we areciate u being with us on a friday morning. check that big board, we've opened much, not much, but up 23 points higher.
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21,027. the headline for you, during president trump's first 30 days in office, 88% of the broadcast media coverage has been hostile. pure anti-trump news reports. we're on it. you can bet we're on that one. we'll be back. ♪ just like the people
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a big way. and six different genres, meaning pop culture, lifetime, entertainment. it gets facebook away from the nasty political fights about fake news and, you know, whether or not it's cherry picking news to show on its site. it can made ad money off of this, too. and it's not to buy content. netflix, i'm not sure is doing advising. stuart: facebook is finding all kinds of ways to get into original programming. >> how about nintendo's new gaming console. it goes on sale today. it's called "the switch", i walked outside a line of people on nintendo's office on 48th street. they were lined up before dawn to get it. what's it about. ashley: they have loyal customers no doubt. it's a hybrid console. what does it mean? it allows gamers to alternate between playing at their homes and on the go. new york times says mediocre as
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a portable gaming device with a short battery life and okay screen. and then another says must-have. loyal customers will want this and a lot of people say it's ingenious. stuart: the three of us are not in that demographics. ashley: i was not in that line. stuart: i remember super mario. after it came out nintendo was worth more than the state of california. liz: really? >> something like that. some wild statistic. it was worth more than all the top american technology companies put together because it was a big success. ashley: is that right? >> everybody had super mario, you don't remember it because you weren't alive. president trump's infrastructure-- . [laughter] . ashley: i'd take it. stuart: and president trump's infrastructure plan. >> i will be asking congress to approve legislation that
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produces a $1 trillion investment in the infrastructure of the united states financed through public and private capital creating millions of new jobs. this efforts will be guided by two core principles, buy american and hire american. stuart: that's pretty clean cut. let's bring in norman anderson, he is the president of ecga, an infrastructure company. norman, i remember president obama coming out with all kinds of shovel-ready projects, ready to go. dig the shovel in and they're ready to go. turns out they were not shovel-ready. you've come to us with scores of infrastructure projects you say are shovel ready, are they ready to go? get the go ahead from president trump and you're on? >> they are. good morning, stuart, how are you? one thing i wanted to say as well on cemex issues, they have a number of plants in the u.s.,
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they can produce plants in the u.s. for building the wall. stuart: you're referring to cemex, a mexican cement company which is going to bid on providing cement for the wall and the stock, by the way, is up 4% this morning, 4 1/2% now and you're saying that they'll produce some of it in america. okay. back to the original question, how many of the projects that you-- you've brought us scores, i know you have, more than 60 or 70 it is. >> yeah. stuart: how many are ready to go right now? >> they're ready to go right now. one of the great projects is the gordie howe bridge abandobr between u.s. and canada, it's built by canada and it's hindered on the u.s. side. we think that president trump could get that moving. stuart: simply president trump has to say go, and it happens? is that it? >> i think what's really required, it's an executive order that says that the law needs to be complied with and
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projects that are in the permitting process that are finished all of their studies, should be approved within four months. that's what the law says and that's what we think president trump can make happen. so, there's no real reason to wait until a bill goes to congress. congress obviously doesn't want to deficit spend in terms of an infrastructure build. we think you can get started right now and show congress that you can generate a tremendous number of jobs as we've said, the first 50 projects would generate about 600,000 jobs. stuart: and you've got-- are you lobbying for that executive order? >> i am definitely lobbying for that executive order. that's exactly what we need to see happen. stuart: and will we get it? i mean, there's no certainty here. will we get it? >> you know, we haven't seen an executive, a chief executive in this country with this kind of energy, this is what alexander hamilton called in the federalist 70, with this kind
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of energy, this kind of responsibility, in a very long time. this is what the executive does. it's not the role of congress to push through an infrastructure bill, it's the role of the executive to figure out what to do and to get things moving as quickly as possible. stuart: okay. norman anderson, thanks very much for joining us, sir, we'll see you again soon. >> thank you. stuart: thank you very much. check that market scan. we're still up this friday morning. it's an even split about 50-50 between winners and losers among the dow 30. we have an update on the opioid epidemic. getting so bad in maryland, that the state's governor has declared a state of emergency. that's very unusual in a situation of this kind, but he's done it. maryland, state of emergency over opioids. the things they love to do most on these balloons. travel with my daughter. roller derby. ♪ now give up half of 'em. do i have to? this is a tough financial choice we could face when we retire.
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say they would recommend their plan to a friend. remember, medicare doesn't cover everything. the rest is up to you. call now, request your free decision guide and start gathering the information you need to help you keep rolling with confidence. go long™. ♪ >> this coming in to us. more u.s. air strikes in yemen, it happened last night. they were taking out al qaeda people. ashley: yes, in the arabian peninsula. two attacks using drones and attack aircraft. one pentagon official says, look, the al qaeda units in this part of the world, the arabian peninsula are a greater threat than isis. they have the ability, pentagon says, to build nonmetallic
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bombs that can strip through u.s. airline screening. liz: terrifying. stuart: a present threat. got it. i've got to get back to snap. nice pop yesterday when shares went public for the first time and it's up again today. that is a near 10% gain. very interesting. everybody who has appeared on this program is a skeptic. i've not heard anybody buy that thing and hold it because it's going up. we've had the reverse, the opposite. people are skeptical about it. one-trick pony is the expression i've heard. it's up another 10% this morning. moments ago hit 27. we're following it. revlon lost money and the stock is down close on 5%. look at gnc. they're trying to turn things around and they've got an awful lot of competition from on-line selling. seems to be working, they're up 6% thus far, but only back to $8 per share. now this, in maryland, the opioid epidemic, so bad that
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the governor there, larry hogan, has issued a state of emergency. normally we get this for natural disaster, but for an opioid? >> he says the threat is escalating. the number of people dying, 2600 people died over the last couple of years. stuart: 2600? >> it's up year over year last year. and he says the state of emergency, that means more state money, 50 million over the next five years and to cut through the bureaucratic tape. stuart: you usually hear the national card. that's for natural disaster it. this time you call in the money. ashley: i wouldn't be surprised if other states take the same measure, it's a huge problem. stuart: to be clear it's maryland state money, not fed money. liz: he's going to look for federal money, but for now, it's state money. stuart: tune into the nightly broadcast news shows what do you get?
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uart: if you tune into a broadcast news show nbc, abc, or cbs do you get straight news right down the middle? no bias one way or the other, no you don't. what you get is a daily dose of antes trump propaganda. do not take my word for it. look at the work of the media research center. they apply to microscope to the nightly news and president first month in office. first finding, the president dominates their broadcast. half their air time is devoted to him. second, and very important 88% of the coverage hostile. the anchors and reporters litterer that coverage with snide comments, surely you remember scott pelley at cbs, it has been a busy day for presidential statements divorce from reality. that was a very poor imitation
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on my part but he did say precisely that. plus therk concentrated their coverage on people critical of the trump presidency. they largely excluded positive stories. that is broadcast news. the print media has been even worse, the venom and contempt that that purse out of washington post knows no bounds. never before has an incoming president met with such a hostile and negative media. that's the fact. the second hour of "varney & company" is about to begin. upbeat and president will lead there shortly headed for air force base andrews on to orlando where he'll be meting with two
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at the local catholic school this is an action presidency very much in favor of school choice. we'll be following him, of course, a little later on today. first, though, fresh economic data about the service sector of the economy what have you got? >> very fresh. i got it for you stew coming in 57.6 much better than expected for the month of february. you know, this is the service sector continue to expand this is more very good myc data. >> it is another sane of strength in the economy. market not reacting to it. the market at the moment is absolutely dead flat right there at 20,999 to be precise. where are we, yes 20,996 down a mere five points there you have it. how about snap a look at second day of trading it is up 10%. it was up 44% yesterday. 10% today. earlier it hit 27, maybe that's because nbc universal bought 500
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million dollars worth of this stock? despite all of the scept sesm they jumped in with a big order, i think that's helping the stock move 10% high per again today. how about apple? lots o of money moving in and out of that. apple stock this morning very close to it all time high again, 139 as we speak. how about costco? profit and sales fell short, uh-oh, and memory fee that's going up $5 not helping stocks, it is down 4% this morning. the feds raided caterpillar headquarters related to allegation of tax evasion took stock down yesterday that contributed to 100 point loss for the dow because caterpillar is dow stock and modest bounce back today 70 cents higher back to 5 a tack a look at what wharls schumer says about flap about attorney general jeff sessionsnd aeged meeting with russia. what he did meet with him.
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here's the quote from charles schumer or there can't be the doubt about the imparablety of the attorney general. top law enforcement official of the land. let's get an answer to that one from the author of we the people. co-host of the five juan williams it is friday morning and here he is back for me he's a glutton for punishment. >> like rod eny can't, no respect around this show. what can i tell you? >> a lot of respect that's why you're on for herchs sake. you're on. >> i i'm on the number one show. that's pretty good. >> both are watching this news program than any other in the land. >> influential glad to be here. stuart: you want my access? >> to you because you have access to that. >> you're on senator schumer is talking about attorney general jeff sessions. i think has he forgotten the tarmac meeting between -- ms. lynch attorney general lynch
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bill clinton and that was a direct conflict of interest she should have recused herself and resigned having done that. >> senator schumer forgotten the obama years? >> wait a second this is such a false equivalent but she ran into bill clinton, the president on the tar hack. well he actually came to her plain. i don't think it was intention intentional. but key point here. >> on blipt part? >> i don't know. but i'm just saying there was no secrecy about this meeting. >> he was. they tried to keep it secret and guards kept everybody away from the meeting. >> former president she's attorney general. yes people will be kept away on a private tarmac but my point to you is the difference with what happened with jeff sessions is, some reason he did not disclose the meeting. he did not admit to it when he was asked about it in the sthat confirms hearing. >> wrongly answered a question and didn't give a full answer. >> that's a big difference stuart and surprised that had
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conservatives are saying oh, this is equivalent city and it is not. >> yeah. but we'll disagree. >>ed glad to hear it because i'm interested in the fact of the matter and seems to be the case. not only did intentionally bump into the president. but subsequently she then deferred the decision to jim comey at the fbi. >> attorney general of the united states of america, should never meet with anybody who is involved in an ongoing investigation. she met with bill clinton, husbf the candidate -- husband -- >> did not arrange for the heating. stuart: democrat candidate in the election. she -- she held the 40-minute meeting she should never have held that meeting and having stepped aside. >> that's what she didn't recuse herself technically but she did -- step aside because, obviously, jim comey -- well i think there's been lots of critics. fix -- so now you think jim comey
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impugning fbi director? >> no democrats view of the role of the attorney general in case of bill clinton and hillary clinton election last year. >> i believe loretta lynch is not it been ited the meeting. elbow that sessions is on the record as not having admitted that the meeting took place. stuart: do you remember years ago i know you remember back in days of cronkite i kind of think that they -- they kind of played it straight. fairly straight. fairly much down -- down the line. >> i know cronkite has his krit. >> i don't remember them with an opinion about incoming president. but now this study from the media research group, 88% of the conch of president trump in his first one month in office. look at that 88% was hostile snide comments from reporters, anchor. i don't think media should be doing that.
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i don't think media should be deliberately undermining an incoming president. i just don't think you should do that. >> i don't know that it is undermining but i say live in an environment -- >> for example, you mentioned scott pelley quote, i thought to myself yeah that came after the president did make a number of incorrect statements i guess intended to fire up his base or something butted it no factual basis for me as a journalist to ignore that it seems to me then i would be one who was not properly functioning. >> 88% hostile coverage. >> maybe it was the case. but i think there was widespread praise for speech before the joint session on tuesday. stuart: do you think media is doing its job. establishment and question, "new york times," washington post spewing its venom and content doing their job in news pages? not just the editorial pages but news paimg pages. >> in news pages i think that is
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wrong and out of place but if you're asking me about holding people to account when they lie -- when they mislead the public and they are public official, i'm all for it that's what journalist should do. stuart: yes but should not put the opinion -- >> when you call it a lie. if you call them out of the lie is that you're u spewing venom? >> no, because it is not a lie. it may have been an exaggeration for example. not a lie. but this is the word lie -- >> people told me even though it is not true. stuart: i can't believe this juan you're established journalist and your own right. you're a good man. you are. how on earth can you support this -- what is going on with american media that this is undermining our society, quite deliberately taken sides. taken sides. >> you are master you have taught me. i come in here and you have held barack obama's feet to the fire on repeated occasions called me
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to say explain what he's doing. and now that people are holding president trump seat to the fire you're saying spewing venom, untear media hostile. >> not holding his feet to the fire they don't condemn him already. they can't stand the idea that he won the election. they just can't stand -- test him personally you know him -- wait a minute juan you've had conferses with people and private conversations. you know with how they feel about this. >> you're right if you think most journalists are liberal and don't agree with trump. stuart: they have contempt for him for conversations with people -- >> if it is about lies, yes. but it's not personal stuart. >> tell me the truth it is personal buzz you've had conversations with people offcamera. >> sure. stuart: wherever they are, and you know, that they are utterly beside themselves with con tempght for our president. you know it. >> not contempt they question why don't you release tax return and play by a different state of rules and appeal that jewish
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cemeteries are desecrated that's the real question. >> no it's not. they hate him. >> does that give you some comfort? >> contempt. >> comfort you to think the press hates what him. >> make mess worried about our society and proper role of the media and not saying it was -- >> media back to the general washington is the press should hold power to account. stuart: sorry don't master me on this one. but -- shake hands. shake hands. >> can't do the radical power bump? stuart: you're on. [laughter] >> yeah. they're killing me. i have to go. i have got to go. the big board shoughses drop of two points for the dow industrials. i think that's all we've got because i've used all of the time. but ebony williams -- [inaudible conversations] okay instruction bids for the border wall with mexico. coming as soon as next week, our next guest says ordinary americans are willing to chip in with their own money. how about that?
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we will be back.
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♪ that's bombolayo by gypsy king reducers play that because it is friday. and they think that by playing it they'll put me in a good mood like wrong again boys. [laughter] goodness check that big board 50/50 winners an losers up a mere two points. debt friday thus far, now this melania trumple reading two sick children at a new york hospital m roll that tape.
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the first lady speaks to sick children and she's getting some bad reception at hostility. >> twitter and social media couple of things, she read dr. seuss book oh, the places you'll go so peel are criticizing her these are sick children. that's number one. number two, a sick child gave a reaction didn't like -- people are misinterpreting it saying she didn't like it but she's sick. third is she said to the doctors and children,able this the power of nature to heal. now, twitter feeds are saying well what about obamacare. obamacare heals you should be about obamacare. >> i suppose every now and then
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you get someone say something really stupid and that's really stupid. >> first lady seems like she can't do anything wright unfair to the first lady. >> unfair toth president can't do anything right. bids for president trump border wall bids could come as soon as next week. now, i believe that one of the bidders -- mexican cement company. >> fascinating saying bids will be next week would be worth billions and billions of dollars to those people who make concrete or for a living an ceo said we would gladly provide the concrete for that wall. >> they would. well -- the business. >> the president says you've got to use american labor and american materials i'm told that they have plants in the united states. >> it works fine. so -- >> can we tick a point that in 2006, more than two dozen democrats this coulding then senator obama, and joe biden were for border fence and wall and voted for legislation to support it.
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>> liz but that was ten years ago, come on. history. liz: i should let it go. stuart: geez, let's bring in jan morgan spokeswoman for citizens for trump. jan, you tell me that -- >> hey, stuart. stuart: good morning, ordinary herns that willing to help fund this wall chip in for it. are they? >> well, absolutely wngt you chip in? you know what all of us millions of americans have been assented negatively by the consequences of illegal immigration and so yeah, we're fed up and rather than wait for the government to allocate money for it, you think that government should put up a website that said go fund me. go fund me deal and let people donate. >> maybe press this case over the weekend because you've got several protrump rallies across the country actually this weekend. you're speaking -- yeah, you're speaking at 1 porm hot springs arkansas where you're speaking tomorrow.
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but you know you're gong to get some opposition on the street what you're doing. are you waiting for it and ready for it? >> orveg. of course i am. i tell you what stuart around the country there are protrump rally are a are rara go usa but there are the anti-trump reare sis answer groups and if you think soft things they're putting on their website -- they're asking for -- intentionally putting out provocative rhetoric to get violence say we're going to say things there are open displays by trump people and misogynist and homophobe and i have been a speaker around the country and never heard any speakers say anything along those lines. so thft when i spoke in washington, d.c. stuart, there were resistance people that showed up at or protrump rally
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they come in ninja costumes with total black hoodie and blacked out masks over their faces so you can't see who they are there just to create disruption. >> if numbers are not in the thousands at rallies they'll say trump can't bring them out unless he's there prnlly. are you ready for that? >> it could be true. but i think there may be people that stay home simply because of the fear of the resistance, and the possible confrontation with anti-trump people. but what i'm hoping is that because of that, because of that threat, more solid americans ame going to come out because we know that our president has been under attack by the media, more or less media as you've been talking about so we want to show that we support him and that there will be a big surprise for people about how many people show up. >> we shall see jan morgan thank you so much for joining us see you begun shortly. >> now i have this breaking news from mercedes what's this a huge
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vehicle recall a big one? >> million cars worldwide for fire risk. there's an engine part in the start of the overheat and catch fire. 51 fires have been pounds. 30 of them in the u.s.. no injuries just yet model year 2015 to 2017. stuart: i notice when you get a huge recall stock doesn't necessarily go down. many this case it has gone up 2.5%. interesting. next case with, man behind amazon as i know -- he's got a rocket company. he says it will be ready to deliver packages to the moon within three years. [laughter] to the moon. says a lot of things, doesn't it? right. more from live action presidency president trump is about to leave the white house. he's going to head to orlando meeting with parents and teachers. he's all for school choice that's what he's talking about. back in a moment.
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>> i got to say i'm surprised at this about the president and angela merkel visiting the president in the white house on march 14th. now the president has been critical of her open door policy saying it is insane that she will not be reelected. then she has come back at hem saying i don't like your protection policy. policies on trade, in fact, her first phone call with with him lectured hum about that. >> this is fascinating because -- angela merkel is she let in a million muslim migrants into her country and has been a huge backlash against it. she is the open borders queen of europe. >> that's right.
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president trump is the exact opposite. now they're going to get together on march 14th in washington, d.c. >> another big part of that is nato let's noting for the but critical of statements all sorts of issues but they do not apparently on surface agree with each other on very little. >> surprised to e me coming here at this point -- that is a clash of titans i would say. liz: you're right. stuart: more on this if we can get something more on it. not sure if we can but we'll try. dow jones industrial is down 6 points coming down a little bit more 27 points just below 21,000. let's not forget that. welcome justice attorney jeff session who is met with russia ambassador democrat senators met with him too. what's that all about? more varney after this.
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>> i have recused myself in the matters that deal with the trump campaign. it is not an admission of any wrongdoing it simply that whether or not you can be perceived as fairly decided on case or evaluating the case. i committed to do that. i have a meeting in my office with two senior staffers both retired military people nonpolitical and we have a meeting with some 25 ambassadors on recent months while i was senator and the russian ambassador was one of them.
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i don't think what was said about that meeting i head with the russian ambassador was legitimate. i think it was hyped beyond reason and i think it was unfair . >> a little push back there. he has recused himself from any investigation. joe manchin he is a democrat he told cnn it really is a unusual for them to meet with ambassadors of other countries. watch this. >> i met with the group in my capacity with a group of other senators. it happens. we meet with all the ambassadors to build a relationship now democrat senator claire mccaskill also met with the russian ambassador but i think she has herself into some trouble about it. she said i had been on the arms services committee for ten years no clue. here is that tweet.
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the core members of foreign relations committees. let's go back to january 30, 2013 after meeting with the russian ambassador upset about the arbitrary cool decision even in those in process. she said they never met with the russian ambassador and there we have her statement. there is a picture of her meeting with the russian ambassador. she claims she's never met before in her life. didn't the russian ambassador meet with president obama and the white house i don't know how many times but it was frequent. >> according to the reports of visitors laws. this ambassador met with larry summers has an obama's in obama's security advisor and isis he also showed up a dozen extra times for diplomatic receptions.
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that's quite a history. let's bring in the former chair of the house intelligence committee it's great to have you with us. a lot of the political turmoil as a result of leaks probably from me intelligence committee. these are damaging leaks but there is nothing you can do about it. what are you same. >> the bottom line is if they want to leak and they want to take someone down there good at this stuff. what dumb trump needs to do he needs to get his team in place. the people that will implement his agenda that share his philosophy that will promote his agenda and do that when that is attacked.
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they will be out there defending that. what you had is a lot of obama hangovers in you also have the bureaucracy they all want to take donald trump and they are still in official places he needs to get them out. i think there are clearly obama hangovers that are leaking this information. we also people within the bureaucracy who are opposed to his agenda. but the list of the they don't share his agenda. they don't share the worldview and they will try to undercut his agenda as well. as of this unique. i can't remember an incoming president who had to fight the federal bureaucrats who was still in the bureaucracy as holdovers from a previous administration.
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and this time it is real then appeared they must really hate this president and try to bring him down. i've never heard of this before. i don't think i've ever seen anything like it either. why is it this a personal animosity to donald trump but more importantly to his agenda. because he has said he is going to change washington. they don't want change. on the very powerful. they will do everything that they can to keep power into fight change. >> this probably won't stop for at least four years. i'm out of time. thank you for applying your expertise here today. viable stuff. always good to be with you. the ne guest just attended a meeting with president trump
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at the white house. tony perkins is with us i believe that you talked with the president about judge gore ship we have met with the top advisors to talk about the selection. things are moving along quite well. but we are coming close to the point it's good to be a very important nomination for the president and all hands on deck. as i understand it i think it will take 60 votes in the senate to get this onto the supreme court. was there any talk this morning about changing that and making it 51 votes in the senate. >> of course it is a recent threshold that was established by democrats during the latter part board of george w. bush's term. there is a lot of support building for judge gorsuch.
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they feel very comfortable that they may exceed the 60 vote mob -- margin. because of the mainstream he comes from. he is quite clear and it's good to be quite hard for democrats to oppose him although i know they well. to what they're doing at some of the other nominees. it's good to be hard for them to oppose it. there are ten summit democrats from states that he won up for reelection next year. it was a limit to how far they can go. were you in the meeting. >> it's a reality. the american people want change. that's why they elected donald trump and on top of the list especially for social conservatives is the impact the core has had this vacancy
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was on the supreme court was front and center in this a debate in the presidential debate. they spoke very clearly on that. that is gonna be a leverage used against those. in the next midterm election. you have a meeting held a meeting with the president about judge gorsuch and coming out of that you're of you are of the opinion that they will probably get 60 votes in the senate to confirm the man on the screen right now? >> the president was not in the meeting. we met with the senior advisors. there is great confidence that they will reach the threshold necessary to seat him on the supreme court. just wait until there is a second vacancy during president trump's term. tony perkins, thank you for being with us. we appreciate it.
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the chief said he wants to ship packages to the man. tell me more. the company which is the space company is circulating it with the trump team and nasa saying we want it to ferry and ship supplies back and forth to the men in an effort to possibly people. he is planning a flag here. he's taking on elon musk. it's about the private sector. i find it was on a fascinating. there hasn't been a single day in the last year that we haven't had an amazon story of the day. this is his company blue
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origin. i would link them altogether. president trump supporters hold a rally all across the country this weekend. they are trying to counter the anti- trump protest while the organizers behind them will join them next. and we also have another check of snap. day two of trading after we went public for the first time yesterday. he was right there at $20 per share. another 14% up. we will be back. when you're close to the people you love, does psoriasis ever get in the way of a touching moment?
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oh yeah sure... ok, like what? but i thought we were supposed to be talking about investing for retirement? we're absolutely doing that. but there's no law you can't make the most of today. what do you want to do? i'd really like to run with the bulls. wow. yea. hope you're fast. i am. get a portfolio that works for you now and as your needs change. investment management services from td ameritrade. jeff sessions recuses himself from investigations. now stuart said it's much ado about nothing. i totally agree with you. but is part of a strategy with the record in the character were so totally mischaracterized.
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i think it's aimed at a broader agenda which is to discredit the trump administration. will it interfere with the president legislative schedule? >> i don't think it well.
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>> came as a complete surprise to me a meeting between germany's chancellor and president. it will happen march 14. on the agenda will be the global economy, trade isis nato in trade relations. he said you're in slain -- insane. it setshe stage for the g20 meeting. the germany chancellor come here on march the 14th to the white house president trump goes to germany on july the third. so the march meeting is kind of settling things the president did say your policy
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was a catastrophe. >> what you want to be a fly on the wall. we will probably not be invited. we're done ever so slightly. a minor loss now 27. just below 21,000. look at the big name tech stocks. that's where we always say that's where the money is flowing. most of them are down to do except for apple getting that close to the all-time high. it is the writing hi again after news that nbc universal $500 million that's how much stock they thought and now the stock is up 17% it was up 44% yesterday everybody on the program has been skeptical
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about snap but it's gone straight up in the 24 hours that has been trading publicly our next guest has been trying to counter the chompers. more schedule for today and tomorrow as well. from new orleans welcome colonel bob manus. we've been showing pictures of the rally that you held on monday and the crowd was very thin. what are you going to do about that. we had three times as many people as we expected for that crowd. we head about 150 folks there. standing room only in our venue. we will have an even bigger crowd tomorrow at 1:00 p.m. and all across the country. they had rally locations on their website. there is a parent organization that is running the nationwide effort.
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do you get a lot of opposition. the people who really do not like president trump do they show up in any force at all. they did not shop at our rally on february 27 here in the north shore. i did hear that they didn't show up in atlanta and were very cordial and actually listened to the message. this is not what about his left or right. after make a prediction. if you don't get thousands of people over each one of the locations a lot of people to turn out the media will say you failed and that you are losing this. that is what the media is gonna say. >> i'm sure the fake news media will do everything they
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can to make it look like a failure. we are doing these rallies all around the nation. i'm very proud. we will have a great upbeat time. real fast. who is providing the money for this has been provided by the grassroots level. were not putting any resources behind it other than what's been donated to us from the people my pack itself has spent about $2,000 of our reserves. no big money is behind us. no political action committee is behind it. we were asked by folks in the trump administration to make sure that patriotic positive
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message in white we support them is getting out there and when we got out there the rally method. they're all across the country to the people it was the right thing to do. we appreciate you being with us. we will see you again soon. thank you sir. look at this. the military has released video of russian writer .-dot buzzing the navy destroyer. they are saying it happened at a high rate of speed last week. they were meeting with the russian counterparts but they came really close and buzzed though worship. very close to the deck. it was at high speed in extremely dangerous and an safe. i'm the times have we done this. if the russians support
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president trump they have a hard way of doing it. that is my opinion right out of the blue there. you feel it. market scare please. i want to give everybody the state of the market. we are down 28 right now. i will respond after the break.
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earlier this week i showed fact i waved a copy of the sunday -- sunday times addition. there is no mention of the trump rally in it were the trillions of dollars of wealth that they have created. i was kind of angry about it. one of ours noticed and wrote in. dr. laurent writes this.
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i was very upset that you wasted dollars on the new york times. i hate waste. i'm sending you a check for $6 to reimburse you for poor investment decision. don't do it again. i have the check in my office. but he think about that. i think what they're saying is what did you expect. i bought it deliberately. don't you love the viewers jumping up with you. it has lost its way. everybody on the front page thinks that there are myths -- ernest hemingway. it was always buried on the jump in the last two paragraphs. you're absolutely right.
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i do have the check i will not cash it i will frame it. we will be back. is data that can make the difference between winning and losing. the microsoft cloud helps the pga tour turn countless points of data into insights that transform their business and will enhance the game for players and fans. the microsoft cloud turns information into insight. ..
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stuart: we seem to be creating a myth that hillary clinton lost because of the russians. that underlies the frenzy over jeff sessions. democrats seem desperate to blame anyone but themselves for their humiliating loss to of all people candidate donald trump. they ignore hillary's infamous comment about the deplorables, she branded millions of fine americans racist, sexist homophobes, islamohphobos who were deplorable and irredeemable. that revealed her view of every day people was applying nasty labels to millions of voters is not the way to win elections.
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they ignore her weakness as a candidate. while trump was speaking off the cup to nasa rallies hillary was speaking before subdued hand-picked groups with a scripted and stilted presentation. that wasn't good. what was her theme? it never really emerged. she had no counter to trump's make america great again. in short she was a weak candidate and that is why she lost. democrats cannot get over it so they searched desperately for excuses so let's declare the russians did not hack into americans election, they did not alter a single vote, they did not penetrate a single voting machine. get over it. democrats tantrum is hurting the country. the third hour of "varney and company" is about to begin. ♪ ♪ here's to the losers
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♪ tom ♪ dick ♪ and harry ♪ stuart: i would never have been as brutal. >> it is outstanding. stuart: our producers did that, having a little fun on friday but i do believe democrats are in denial over the election results with our next guest says it is the democrats who are ruining the state of california. republican party chair of the state of california. i didn't know there were any california is left to label themselves republicans but you are the one and only so welcome to the program. >> i am glad to be here and there are millions more like me. stuart: so i am told. if you believe the democrats, governor brown, hillary clinton, are ruining the state of california, why is it california
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always votes democrat? >> we have had some demographic changes here and they worked against republicans as they have in other parts of the country but democrats have total control in california. our goal is to elect a republican governor in 2018. let me tell you what the democrats have done in california, they have total control of the budget, they raised the income tax, raise the sales tax and took us from a fairly good surplus to a deficit. we have the highest income tax in the nation, the highest sales tax in the nation, deficit budget and that doesn't even count the hundreds of billions of dollars we have in liability for public employee pensions and healthcare costs. we are diverting money from transportation that should be going to transportation and governor brown wants to raise the gas tax by $.42. we have 2.4 million children living in poverty. more people living in poverty in california, democrats broke it,
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they own it. stuart: that begs the question again. if it is such a long list of problems for the state of california, why does the state of california keep electing democrats? it is not good enough to say this and that. it is an open vote, anybody can vote. what is going on here? >> for 23 of 30 years prior to the election of gerri brown we had republican governors and even though the democrats controlled the state senate since i was in elementary school in the state assembly only once for one year since i was in elementary school the fact of the matter is they were very good blaming republican governors. they are blaming donald trump but if hillary clinton had been elected president we still have 2.5 million children living in poverty. we have the highest income inequality in the nation. our infrastructure is in disrepair. democrats are in charge, that is
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why they want to rail against the president rather than have voters of california focus on their record. stuart: i am in my late 60s, i'm told i have a life expectancy of 20 years, god willing. in those 20 years do you ever think i will see the election of a republican in a statewide contest in the state of california? >> absolutely. in 2006 which was 10 years ago we reelected a republican governor and elected a republican to the insurance commission. i'm hopeful we will elect a republican to the governorshipping 2018 and that is why we are totally focused on what the democrats have done in california. we are not going to let them off the hook by blaming people in washington 2200 miles away. stuart: i think you have an uphill struggle despite the legal situation, despite the problems of the state and we wish you the best of luck.
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it was a treat to have a california republican on this program. we found one edited is you. we appreciate it. hardly any republicans in california. they are not there. day 2, literally 24 hours after the stock first traded and is up near 20%, $29.26 a share. come in, lenore, how do you pronounce this? >> tomatoseea. stuart: joining us this morning. everybody who has appeared on this program have been skeptical about snap. none of them would touch it with a 10 foot pole and goes up 44% yesterday, 20% today and still going up. what is going on? would you buy it? >> no.
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we have seen this before. thought it was go pro. this isn't an unusual thing to see particularly tech stock get a pump and a dump, that is what we are seeing. i don't see any good fundamentals with snapchat, already a slowing growing user base and that occurred when instagram added stories to their offering. 70% of their target market, limited appeal internationally and the corporate structure, the founders have total control, all the voting rights so very limited shareholder accountability is not comfortable. stuart: you don't like snap obviously. don't hide your like under a bushel. you managed money for wealthy people, that is what you do. you don't keep them out of
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technology altogether so obviously which big tech companies do you like? >> i like amazon. facebook is a really good, great company. i am wary when things get pricey. snap is relative to its price not valuable. stuart: a big picture, we have a very modest pullback on the dow, down 30 points, down 100 yesterday. what happened to the rally. give me your stated play now. >> we are seeing the fed come more into play. it isn't about the economy because the atlanta fed gep forecast for the first quarter has plummeted down to 1.8% so 1.8% isn't exactly an economy that is overheating where we need to raise rates but the fed is looking at the stock market thinking this is heading
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overvalued by so many metrics, it is very expensive, very uncertain because all these things are predicated on trump being able to get these changes to the tax code, changes to regulation which would be fantastic if we get it but have to do it in the near term. stuart: i will put you down in the skeptics column and we will have you back and see if you change yr mind. thanks for joining us. the feds rated caterpillar headquarters yesterday, this is related to a possible allegation of tax evasion. liz: as of 2014 sucked $6 billion in profits in an offshore unit in switzerland which enjoys 5%, 6% corporate tax rate. and not okay with the irs, rated the headquarters in east peoria,
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another shipping facility in illinois. this is a problem for caterpillar since 2009. the feds are moving in. stuart: not the only people to keep billions of dollars in offshore accounts. apple has $220 billion. is this something special? liz: they are also putting in under export control issues, use of aliases and the fdic was in on the probe, there may be more to the story than tax evasion. stuart: that is why stock went down and bounced back. thank you very much. this is the big story of the day. jeff sessions fighting back against the democrats. his recusal is the big story and now he is indeed fighting back. look who is next, j ashcroft, missouri app secretary of state and son of former attorney general john ashcroft. he calls it political sabotage by the left and he is next.
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stuart: attorney general jeff sessions recusing himself. now he is pushing back against the democrats, his opponents. listen to this. >> the ambassador had been in my office the day before, and a disagreement over the ukrainian issue, anybody in that meeting would've seen or believed i said one thing that was improper or unwise, i met with him after i spoke and we chatted on the floor of the meeting and called to meet with me. i met with 25 ambassadors during this period. stuart: joining us now, j ashcroft, secretary of state in
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missouri. welcome back to the program. good to see you. >> thanks for having me. stuart: this jeff sessions political storm and that is what it is at least in washington dc, i say it is much ado about nothing. what says j ashcroft? >> i have to agree, this is the silly season of politics. the opposition party has been pushed out of power by a president focused on governing and making america greater for the people of the country and the opposition party has to fight partisan politics. misconstrued what he said, he answered a question during his hearings that said innocence he hadn't as part of the campaign talked to the russians or any other of those individuals and now they are trying to construe the fact that in his duties as a us senator he met with the russian ambassador once as somehow being a lie. it is petty partisan politics
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and we need to get past that and do what the people of the country elected us to do. stuart: democrats went after your father john autographed -- john ashcroft was you are laughing but i remember it well. is this a replay, repeat performance? >> a prior administration is concerned that the truth is coming about what they have done and the rule of law and they are scared. the people of the country realize they made a mistake eight years ago, made a change in november and seeing the results they expected but we have a president that is doing what he said he would do. cabinet official serving the people as they should and the opposition party is in disarray. stuart: i am sorry, john ashcroft, i mean -- attorney general jeff sessions has recused himself from any involvement in any investigation of the russians which has that taken the steam out of the opposition to him? he just moved aside basically.
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>> it probably hasn't. this has never been about truth or what logically should happen. attorney general sessions is an honorable individual who has done what is right for the people of the state, the people of the nation and he will continue to do that but he went ahead and recused himself out of an abundance of caution so people could have faith that the system would work correctly, the once again the rule of law would prevail. it is the right thing for him to do, not because he had done anything wrong but he holds himself to the highest standards. stuart: will this interfere with president trump's legislative agenda in congress? >> no i don't think so. once again this is about democrat better just attacking in whatever way they can. senator claire mccaskill from missouri tweeted to the she had never met with the russian ambassador, never talked to him and when we looked at tweets from years past we found out she has met with the russian
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ambassador, she has talked with him by phone. this isn't about the truth, this is about appearances, this is about politics, partisan politics and we need people that understand the best politics is good governance, that is what this administration is going to do and they will prevail because the people of this country will see that. stuart: is always banks for joining us, appreciate it. next case the dow is down 30 points, snap is up and look at this, a record number of concealed carry permits in the state of ohio. >> the most in a single year, the last 13 years, they have 159,000 concealed carry permits look at this number, 118,000 event number our new meaning people who never owned a gun before are buying and getting concealed carry permits. that is a big spike up two thirds from the year prior. stuart: something similar from the state of minnesota. similar numbers. liz: it is not gun owners. it is new. why are they doing it?
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safety. stuart: a very big deal. i am going to check a couple stocks, appleshare is still sitting close to the all-time high. costco, sales fell short raising membership fees $5 a pop and stock is down 4%. nintendo's new gaming console went on sale today called the switch. people lined up overnight, should you get when? probably not. listen to that music. i remember that so well, 30 years ago, you couldn't get that song out of your head 30 years ago, they will bring it back, we will be back. ♪
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[siren] stuart: nintendo's new console called the switch went on sale today. people are lined up overnight to get it. for the benefit of myself and my viewers what is it? ashley: i am not really a nerd. it is basically a hybrid console to use with these games, work on your tv at home, it can be adapted to your tablet, take
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your game on the go. this is kindf thing you would think to yourself haven't we had this before? they haven't. a lo excitement about it. big crowds outside nintendo store. stuart: lined up at 4:00 in the morning. let's have a look at facebook into original programming. could be very big, details. >> half hour programming episodes, pop culture, it is moving away from the controversy over the fake news streaming onto its website, they keep people on their site via tv with apple tv, facebook's own content, its own weekly series. it is advertising as well. stuart: this i got to see. it is revenue. now this. many of you have written to me, giving me a very hard time about
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the big deal that i do indeed make about tax cuts but i admit it i talk about it all the time but i think it is an important issue that affects everyone. next up we have the head of the tax foundation with us and i will ask if he thinks i'm just going over the top with stuff like this. republicans split on tax-cut, tax-cut, tax plan, don't get a tax cut, tax plan, tax reform. you are not worried about it tax-cut eq ♪ across new york state, from long island to buffalo, from rochester to the hudson valley, from albany to utica, creative business incentives, infrastructure investment, university partnerships, and the lowest taxes in decades are creating a stronger economy and the right environment in new york state for business to thrive.
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i realize that ah, that $100k is notwell, a 103fortune. yeah, 103. well, let me ask you guys. how long did it take you two to save that? a long time. then it's a fortune. well, i'm sure you talk to people all the time who think $100k is just pocket change. right now we're just talking to you. i told you we had a fortune. yes, you did. getting closer to your investment goals starts with a conversation. schedule a complimentary goal planning session today.
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stuart: republicans split on tax-cut, tax-cut, tax-cut, tax plan, don't get a tax plan, tax reform, not worried about a tax-cut? tax cut tax, tax, tax, border tax, tax. we have a tax-cut. do you realize that was all from one day? that was february 22, '26 times i talked about taxes. i am very sorry, viewers, i do apologize. i have been taking constant flak for this was viewers think all i talk about his tax cuts. scott hodge, you are president of the tax foundation.
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let me defend myself. i would like a tax-cut for myself, that is true, but the country needs a tax-cut. i think a tax cut for individuals is the most important thing trump could do could get the economy going. where am i going wrong? >> i will make you an honorary fellow of the tax foundation. stuart: you sound like paul ryan and kevin brady. >> i wish we had this energy in the senate. th seem to be bogged down, the white house is trying to fige out where they want to be on the tax debate. i think they want to come together with paul ryan and kevin brady but still having internal divisions. you are right to keep that enthusiasm. that is the kind of energy they need. stuart: i got this energy because i suspect the tax-cut package is delayed until the latter part of the year, even into next year. very bad news for the country and bad news for the market.
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steve mnuchin on this program said we will get the tax-cut, it will be signed by august. what do you think? >> i am sure your worries and i hope secretary steve mnuchin has given the kind of deadline congress needs to get something done. what is happening is the senate and the white house having to work through a process, having to work through internal disagreements much like the house did over the last couple years before they found the brady ryan blueprint and we have to watch this process go through until we get agreement across all those parties. stuart: it doesn't look like it is just disagreement over little details. it is like the border adjustment tax which is one huge sticking point. >> huge disagreement over a plan dave camp put together in 2014
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which tried to refine the income tax which everybody hated it so what we are seeing is brady and ryan have a new style of plan, more of a consumption base is causing its own level of disagreements. this is the nature of tax reform. you have got to go through this process before you reach the grand agreement everybody can sign on to. stuart: you are president of the tax foundation. i don't know what your ideology is or which side of the fence your coming from. do you approve of shifting slowly away from the system of taxing what we earn towards taxing what we buy from income tax to a consumption tax. do you approve of that? >> the corporate income tax, the most harmful taxes for economic growth. moving to a consumption tax will make us more competitive and pro-growth. stuart: let me interrupt for a second. in the 1970s when britain
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introduced the value-added tax we were assured we would be taxing consumption, what we buy and tax less what we earn. what worries me is you have the same thing in america, start a consumption tax, we never will. >> the brady ryan -- the board of her assumption tax. it is getting rid of one income tax and replacing a different one. it didn't happen in great britain or many other countries. this is a smarter approach and one that is extremely progrowth. stuart: you are sticking to it. that we will get a tax-cut package signed by august. >> crossing my fingers. the energy is there to get something done. they made a promise to live up
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to. if they don't, the markets will tank. if they fail to live up to that promise. stuart: i wonder if you moved the market. i glanced at the big board, you just said it is going to be signed by august and that is a key factor. thanks for joining us, always appreciate it. president trump tweeting out this morning he wantss a merit-based immigration system. nick adams's new book green card warrior is a must-read. the merit-based system is the way to go, canada, australia. nick adams is an australian guy, he came to america, he is gung ho for america, big supporter of america, joinings is david rivkin, associate white house counsel under george hw bush. what do you say about a merit-based immigration system? they have been in canada, they have it in australia. it allows us to pick and choose
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who we want and lay down the terms of that. >> makes perfect sense when it talks about bringing in people, ability to invest in our economy, investor type visas, the contribution to american economy and create jobs. not just australia and canada but most industrialized countries have merit-based immigration system. our system is almost entirely unification based. we have some small number of investor visas but very small. makes no sense. stuart: who would oppose it? with democrats generally -- any particular group of people would oppose merit-based immigration? >> i think so. the comfortable existing system in large part, they are not interested in legal immigration, they are interested in open borders and the reality, there
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is a connection between dealing with illegal immigration, structuring immigration, all those things have to come together. i'm afraid it is difficult for me to envision bipartisan solutions to any aspect of immigration. it makes perfect sense and to be clear there should be some room for refugees and family unification but in our case the system we have now is almost 90%. stuart: can i get your comment on the controversy surrounding attorney general sessions? tray gaudi is coming to his defense. listen to this. >> i'm telling you having been there for six years, almost every witness get some fact incorrect. that is not tantamount to perjury. i'm not prejudging this. the fbi is welcome to look at it. of the senate feel that strongly about it they could send a referral to the fbi but making a factual error is not tantamount to perjury. stuart: i said earlier on the
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show that i think it is much ado about nothing. the shakespearean comedy about political intrigue. am i going too far? >> i would say it is not only much ado about nothing, the real essence of the story here is politicization of an issue on russian interference into the election should be looked at the merits, looking at something mccarthyism looked good. let me break a couple points. i would bet you anything a number of senators which sessions was at the time, met with the russian ambassador. i would bet you anything the russian ambassador met with numerous advisers to hillary clinton during the presidential campaign. so did any ambassadors. and a lot of evidence that the russians hacked into the dnc but they did it in order to help
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donald trump win, rideable for a variety of reasons but the most significant one, not a single political analyst in the country, virtually none expected mister trump to win so unless you assume russian intelligence has better political analysts of our system, and the most plausible interpretation is they wanted to hurt hillary, take life difficult, did not like her, none of it is any good, should be investigated, the notion that they are a cabal between the trump campaign and his associates and the russians is rideable on its face which i wonder why nobody is asking the hillary campaign how many times any of your colleagues met with the russian ambassador. stuart: that question will be asked. >> i have not seen it so far. stuart: don't hold your breath. and original thinker. we like that, thanks for being
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with us. we got this news earlier from the white house about the president and angela merkel, chanllorf germany. ashley: the chancellor coming to washington dc on march 14th a week from tuesday. to meet with president trump. that is a surprising announcement, there has not been a lot of warm fuzziness between these leaders. they did speak my home, angela merkel calling donald trump when he won the election and there was a statement released that we will cooperate, a commitment to nato and cooperation in the fight against terrorism but then angela merkel very critical of donald trump's executive order on the travel ban for travel restrictions in those 7 countries. she will come to the white house the smooth the waters a little bit because president trump will go to germany in july for the g
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2000 in hamburg, they will find common ground. stuart: i would like to be a fly on the wall when angela merkel found out trump had won and a fly on the wall in the white house when angela merkel meets president trump. stock check please. i want to show you revlon, they lost money and that stock is down, 3.5%. how about gnc, the vitamin people and other products, they are trying to turn things around, they have intense competition from online sales. the market think they might be doing okay, 6 present. house republicans have a secret obamacare replacement bill under lock and key. senator rand paul went looking for it, that photocopy through the capitol hill halls. special guest, the deputy, former deputy secretary of hhs, what he thinks about all this.
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check snap. the song you are about to hear is one of the popular filters, the one with the sunglasses. i don't get that but they are snap at 27. ♪ you can say one flavor ♪ you can get this out ♪ you can get this out ♪ before those little pieces would get in between my dentures and my gum and it was uncomfortable. just a few dabs is clinically proven to seal out more food particles. super poligrip is part of my life now.
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>> i'm nicole pedallides with your foxbusiness briefly to record week on wall street, 21,000 stocks surge after the presidential address, give a little bit of that back. the dow jones industrial average pretty low, 20,970 down 32 points but slightly higher for the week for the dow, the nasdaq and the s&p. caterpillar after falling 4%, federal authorities are probing into the machinery company in illinois but gaining a little bit back, we see walmart and nike under pressure, goldman sachs amassing $3 billion and exchange traded funds in 18 months. watching the airline stocks as the trump administration is proposing to roll back the regulation the trade groups are plotting on how they sell and distribute products so they do like that. macy's under pressure, morton taylor owner hudson bay, that could be stumbling. doasis ever get in the way of a touching moment? if you have moderate to severe psoriasis, you can embrace
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stuart: house republicans had a secret obamacare replacement bill hidden in secrecy senator rand paul went looking for, blocked from entering the room where it might have been. he rolled a copying machine through capitol hill. former hhs deputy secretary and former lily usa president. can you tell me why it is that the house has a plan which is
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locked up in a safe somewhere on capitol hill and we can't see it and nor can the senate? what is going on? >> great to talk with you. like everybody i want to see what is behind door number 3. what is going on now is they have that legislation at the congressional budget office am a different part of it and they are analyzing each part and does the math add up? do they have money for how that is going to score on the whole legislation and no sense putting it out there and letting it leaked to people like me before they have the answer to that. they are planning markups next week. stuart: a long-term timeframe here. the president has been in office, he was elected on november 8th. i would have thought, reasonable people would think maybe we could see the plan by now. >> the basic elements of it are
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probably pretty straightforward from a republican perspective. i don't know what is in it but i know what is going to be in it. getting rid of the mandate, we will get rid of exchanges, get of hhs, the national insurance commissioner, you will see some form of advance double refundable tax credits that help people get insurance in the state based individual market, expanded hs as leveling the playing field between people who have employer insurance and those who don't, they have pretax money to fund insurance expenses and reform of the medicaid problem is part of this. the condors are going to be relatively straightforward about what the orion rolls out. stuart: it is so big and complex, rolling out simplistic plan cover appeal and get on
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with it. the political constraints is that nobody who has any kind of obamacare coverage or obamacare benefit, must not lose them. the replacement plan has to cover everybody who is currently covered. >> that is going to be the rubber. on a 1-on-1 basis that is a tall order. no individual isn't this rough to do. they have to have a transition period to make sure this is all stable and they move into the new system. the big issues, how much do you subsidize the individual market? we have a money issue, what is going to happen, and a bunch of the taxes put on different industry sectors. where do you get the money?
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two places. one of them is to pull back a little bit on the federal share of medicaid on the expansion? the others are capping the employer exclusion of healthcare benefits with sources of money and not necessarily going to be the most politically popular and hard to get through the senate. stuart: if we get through this broad mandate, to cover this, this, this and this, whether you want it or not, if you get rid of that mandate can't you have trimmed down policies that i might be interested in, that i want coverage for and the cost goes down? it seems overly simplistic but that is the way we should go. >> the last word, simplistic or simple, is the watch word. i would be looking for them to take as streamlined and approach as possible that meets the goals of empower states, deeper to state and give individuals more choice and more control over
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what their healthcare is going to be, decreasing the cost of these plans and make them more affordable to individuals. something else has to happen. they need to think about high risk pools. stuart: has to go into a high risk pool and that has to be paid for and subsidized. that is the only way around that one. what you do is reduce a complex argument to the point where i understand it. cs again, stuff like that is welcome. now, this struck me as odd when i first saw it, the largest technology investor, the gentleman next to president trump, december 6th, his name is son, the softbank guy, a few major deals with sprint.
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ashley: the billionaire from japan, wanting to invest in the trump economy. this is when donald trump was president-elect, looking at possible marriage with comcast could be ambitious as far as print is concerned, merger with t-mobile. he wants to ramp up digital infrastructure in this country, talk about roads and bridges and airports, he says this is the opportunity with less regulation, donald trump in charge to get that done. stuart: he wents into the trump economy. ashley: and he said when he met with donald trump he could create 50,000 jobs, $100 billion tech fund. stuart: would you pay $100 billion for a bottle of water if you knew it came from the icebergs of norway? that is $100 worth of water. you will hear the full story in a moment, ticket prices for the chicago cubs, but are surging after the team's world series when up 1500% from last year.
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not much to shell out for a seat at the game. back in a moment. ♪ chicago chicago ♪ that toddle in town ♪ chicago chicago ♪ i will show you around ♪ i love --
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stuart: ladies and gentlemen, i'm not allowed to open this bottle of water. [laughter] it costs $100, and it's got to go back to the person who gave it to us, and i can't open it. $100 -- >> $100. this is a norwegian company who went straight, deep into the fields of norway. and you know where they get this water from? it's literally from icebergs. they say we pick out icebergs that would otherwise be melting. might as well make a buck other those melting icebergs. stuart: it says the taste of snow in the air bottled in -- remember the swedish chef? >> i do now. stuart: he bottled in this for $100 a bottle -- [laughter] >> the person who bottled this was a one-time wall street analyst. stuart: you really can't make this up. >> you can't. stuart: tell me about the opening price surge for the opening game for the cubbies.
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>> $443 on the secondary market. the cheapest ticket you can get is $116. of course, the cubs finally won the world series last season, first championship since 1908. by the i way, the cheapest ticket in major league baseball? travel out west, go see the colorado rockies, $52 will get you in. stuart: i'm still dwelling on a $100 bottle of oil -- [laughter] bottle of water. i wonder if anybody was offended when i imitated the swedish chef? >> the norwegian embassy's on the phone right now. [laughter] stuart: we'll be back.
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stuart: fantastic runup on the market since november the 3th, and the -- november the 8th, and there is no serious retreat at the moment the dow industrials down about 20 odd points, that's not a huge backtrack. we were down 100 yesterday, but we're still right there, very close to 21,000. snap, big rally yesterday. that thing went up 44%, and look
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at it now, 14 up again, 27.98. it's time for me to pitch to neil cavuto, my colleague, and i've got a question for neil. heads up, neil, watch this: this is a $100 bottle of water. which would you rather have, the $100 bottle of water or four shares of snap? [laughter] neil: hhm. >> ooh. neil: both could be questionable. like i don't believe that came from a glacier, did i arou say that? stuart: sweden. norway, sorry. neil: i think they're lying. [laughter] i don't think that's the case. that's questionable. snap and its financials a little questionable, so i don't know, i might pass and go for what's behind the curtain, you know? stuart: neil, do your viewers look forward to toes which i give y give to you every day? neil: not really. [laughter] but i do. i do. stuart: it's friday. neil: it is. by the way, i will say this, and thank goodness you're doing it

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