there's a lot of pest myths and verbage. >> you're a buying of the u.s. stock market at these levels? >> i am. >> leah? >> i'm saying we'll see. obviously we've got to get the markets moving on the plan. >> leah gabriel, steve and mike. "varney & company" is up next. stuart varney, take it away, please. stuar stuart:. stuart: good morning, great to be back, even if it's a pile on trump day again. for the media, the president cannot do anything right, can he? he's portrayed as the odd man out at g20 and yes, of course, russia, russia, russia, that's this monday morning. a couple of positive for you. america will help other countries access and use fossil fuels more efficiently. that means america will export our natural gas. the europeans will buy it so they don't have to rely on the russians so much. and second one, president trump

is talking about a very powerful deal on trade with britain, done very quickly. you really have to dig through the endless anti-trump reporting, but our president is not out in the cold as the media wants you to believe. that's politics. now we've got money. we're looking at a stock market that's hovering close to record levels. we'll open slightly flat on the dow. the nasdaq is up a bit though. please remember the dow is only a few points from its all-time record high. watch out tonight, 9 p.m. eastern to be precise, amazon prime days begin. discounts, special deals for the 79 million american prime members. big deal indeed. politics are in total disarray, but your money, it's doing okay. "varney & company" about to begin. ♪

all right. it's monday morning, and it's july the whatever, the 10th, i think it is. a look at the futures again, please. we're going to be down a fraction for the dow industrials, up for the tech heavy nasdaq. how about this? the yield on the 10-year treasury not going that far today. we're going 2.73% as of now. how about the price of gold? we're below $1300 an ounce. we're at 1209. about 100 bucks short of where we were say, three weeks ago. gas, oh, dear. i had a great fourth of july driving season if you want to put it like that, paid a buck 99 where i was. liz: in oklahoma. [laughter] >> we're back up again, 2.26 is the national average right now. one stock in particular for you, it's a retailer. it's abercrombie & fitch. they want to sell themselves, apparently that effort has stalled. the stock is going to be down 11% at the opening bell this

morning. let's get to amazon, prime day starts tonight. thousands of deals over 30 hours, tonight and tomorrow, and the millions of prime members no doubt participating. shah gilani is back with us this morning. obvious question, why aren't you wearing a tie this morning? other than that, when is amazon going to get to $1,000 a share again? >> i'm celebrating your birthday, belatedly. it's going to get there soon. happy belated birthday to you. we are a breadth off the $1,000 mark. and it's poised to go back up. no reason for it not to go back up. amazon prime is going to be a big win. i expect a couple of weeks to get to that mark if not sooner. >> how about the other major technology companies? i've been away for a week and watching carefully and they kind of stalled on the down side.

two or three points away from their all-time record highs and i noticed this morning, some of them are going back up again, at least a little. is this the start of a new leg up for the fabulous five as we call them? >> well, there's some in the tech stocks to me, looked like program trading and profit taking and the program and selling because they had significant profits in them. it didn't look like a lot of investments bailing out of the stocks. they've been consolidating that, and looking like they're ready to move back up. all of them in pretty good shape. your favorite, microsoft looks the best of the big bunch, but they're primed to go higher. this stocks would rebound very quickly. stuart: we'll bring you back for the commentary at the opening of the market. is it the same old story, politics in disarray and money is doing okay? >> that's the story and money continues to lead and that's the good news.

stuart: got it. shah, see you in 24 minutes. see you later. thank you very much. senator john mccain, republican, arizona. he says the g.o.p. health reform bill will probably die. all right, what the president tweeted just a few, about an hour ago actually this morning, i cannot imagine that congress would dare to leave washington without a beautiful new health care bill fully approved and ready to go. that's from the president this morning. congressman marsha blackburn with us this morning, republican from tennessee. you know, a lot of people are saying this health care thing is absolutely dead. what say you? >> i think health care is moving along through the process and i fully believe the senate is going to get something done, send it back to the house and we will reach a resolution on this. we made a commitment. it's a deliverable that we're committed to and we need to get it done, sooner rather than later. stuart: so you think. i mean, there's a new plan that's going to be submitted today. do you think it's got a shot,

really? almost everybody says this thing is a dead duck. >> i think the new plan has a shot and stuart, as you know, many in the house talked last fall about having a date certain in the future that we would work toward because obamacare, the a krchca, cannot repealed and moved off the books with one stroke of the pen. this is something you have to do in phases, we all know that and realize that. you have had a compilation of of, of courses the statutes, but also the regulations. 20,000 pages, i think it is, of regulations and rules that have been put into effect via the law. so, dealing with the essential benefits, dealing with the taxes. it's something we have to do. stuart: there's only three weeks before the august recess begins. are we talking working through the august recess? >> indeed. there are many of us that says this is something we committed

to, if we need to give up the office work period and be in washington in order to get this done, we have to do it because we have to start on tax reform. stuart: exactly. now, treasury secretary mnuchin says they will have a plan by september and passage by the end of the year. just listen to this, marsha. roll tape. >> you are willing to work through the august recess to get a tax cut done? you're going to do that? >> we're willing, we want to. >> if in fact we need to be here during the traditional august break. >> my freshman class we want it done, we want health care and taxes. >> i'm ready to, would through august, that's what i came up here for. stuart: i'm terribly sorry, mars marsha, those are the wrong sound bites. treasury secretary mnuchin says, you're going to get a

bill, there will be a vote by september. we'll pass it. now, this sounds more and more and more of the same. do you think he's actuallying go to produce? >> i do. and what you're going to see is a tax bill move forward. it will come with a budget. it will be handled via the budget reconciliation and a powerful tool for achieving success in washington. and we know that health care has to be done, then tax reform, so, we can move on to infrastructure and we can move on to regulatory reform. and on health care, stuart, it's important to pass this first tranche of repeals and adjustments so we can get to phase two which deals with the things dr. price can do through the rules and regulations and phase three, which contains elements such as medical malpractice reform and across state line purchase of health care insurance, my legislation that we're looking forward to moving forward with this year. stuart: i hope we can move

forward on health care and tax reform. if you don't, the g.o.p. looks pretty sad come-- >> i agree with you, i agree with you. stuart: marsha blackburn, thank you for being with us. >> good to be with you. thank you. stuart: an interesting story, headline, paris evacuation nearly 2800 migrants. ashley: these are migrants in a camp. there's been an upsurge in new arrivals as more come across the mediterranean from libya and some going to calais to try to get across the channel to the u.k., but they set up a center in paris, for 12,000 just last year, it's been overrun, there's not enough space and taking the latest refugees into processing centers and then moving them elsewhere around the country. some will be deported and some given an opportunity to perhaps seek asylum.

again, it's europe under siege because they just don't have the capacity to handle the inall of the refugees. stuart: i wonder if that came up in the g20 meetings, but europeans have it so wrong and america has it right. liz: i wonder if it came up, obama's red line on syria. stuart: i wonder, i wonder. soccer fans, international soccer stand lionel messy, supposedly the best in the world, fined in order to avoid jail time. what's with that? ash will tell you shortly. [laughter] >> three weeks to go before the august recess for congress. could you imagine the political repercussions if they don't get health reform done? we'll deal with that after this.

>> we're going to open that stock market in approximately

15, 16 minutes and when we get there, we'll be down ever so slightly on the dow and s&p 500, and ever so slightly on the tech heavy nasdaq. let's talk about lionel messi, he's avoided a prison sentence and paying a big fine instead. i want to know more about this from e-mack. liz: yeah, he faced a 21 month sentence, and his father 15 months for hiding profits from images and tax havens in uruguay and belize. he owed, it looked like $2 million euros, and the father 1 1/2 million euros. they'll avoid jail time. stuart: can you imagine the world's greatest soccer player in prison because he didn't pay all of his income tax? the spanish court is going to do that. he plays for barcelona. ashley: he would be much prized on the prison soccer team. [laughter] >> you could see this coming a mile.

any way that man is it going to prison. pony up the money and you're out. senator john mccain not at all optimistic about the g.o.p. elk had reform bill. roll tape. my view is that it's probably going to be dead. but i've been wrong. i thought i'd be president of the united states. [laughter]. but i think, i fear it's going to fail. stuart: he says it's going to fail, he fears it's going to fail. stuart: look at the headline, if republicans do nothing about obamacare, voters will punish them. who wrote that? the opposition within the g.o.p. on health reform looks like it's going to carry the day. i don't see health reform happening and what are the consequences from that? >> first of all, remember the great dr. samuel johnson said nothing so much concentrates one's attention than the

prospect of one's hanging. should they not pass a bill reforming or replacing obamacare, the consequences will be worse for them. stuart: for the republicans? >> yes, one, they promised their base this seven years, this was central their campaign to take over congress and should they fail to do this, having control of all branches of the government, i think two things are going to happen. many republicans in the house and some in the senate will be primied by challengers who say you're useless, you didn't keep your promise and in the general election, republicans will tend to stay home, this'll be disspirited and demoralized. stuart: with that kind of threat over the g.o.p. congressmen, won't they turn around, we can't have this, we've got to do something. doesn't that raise the odds we will get the health reform bill? >> yes, but on the other side, the democrats will say we'll work with you, we will work with you. the siren calls. what the democrats want is not substantive reform and if the

republicans work with the democrats, the bills that emerge will be the insurance companies, and exchanges are collapses. one things worse than not passing this bill. stuart: that is? >> bailing out the insurance companies, that's even less popular. stuart: they've hit a brick wall here, because they are divided. they look unlikely to pass a bill and at the same time they're going to get clobbered in the elections next year. >> this is a rock and a hard place, but that's why we elect leaders. stuart: that's a huge rock and it's a very hard place and they really hit each other. isn't that enough to get something done? >> it will go to the last possible moment of the last possible day. >> yes. stuart: and something will pass. >> you think that something will pass at the very, very end of the day, something will pass? >> i think that president trump will fly in at the last minute and say if we don't do this, we're all going down together. stuart: will it take so long that there's absolutely no time

left this year for tax reform? >> there is time. but not before the august recess. we already heard secretary mnuchin say a planned announcement in september. and legislative says in october and november. if they don't pass by new year's, then of course, the calendar takes over and it's difficult to pay a major tax reform bill with a year ending with an even number. stuart: so john spahn says there's a reasonable chance that we could get tax reform at the last minute. >> i think they have to deliver on tax reform, because the business lobby has been expecting this and also, of course, economic growth. the only way to really goose economic growth is to bring some of that patient capital that's been trapped overseas, unlock some of the entrepreneurial spirit and that would help in an election year. so it's to their benefit to pass tax reform. not just politically, but economically.

stuart: before i say goodbye, i'm a newly mint the american. and what is it you're writing in the book, citizenship is being devalued? >> we're not supposed to care about that. i'm in san francisco. san francisco lets aliens vote,en illegal aliens can get driver's license, in thankfully a presidential commission will start looking at the issues. citizenship is being devalued because a lot of people in this country i think because they want a new political majority and they're willing to cut corners to it and citizenship is a barrier to that. stuart: well, i am a citizen. >> i am a citizen, and proud to be-- i think that citizenship should mean something. you can be a resident here if you want to vote and serve on a jury, and enjoy the privileges, you must be a citizen. stuart: john, nice to see.

how about this? new york's mayor flies off to germany to participate in the protests. he missed a vigil for an officer shot assassination style in the city. we've got the full story for you after this. where to get in... where to get out. if only the signs were as obvious when you trade. fidelity's active trader pro can help you find smarter entry and exit points and can help protect your potential profits. fidelity -- where smarter investors will always be. with some big news about type 2 diabetes. you have type 2 diabetes, right? yes. so let me ask you this...

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>> monday morning, new week on wall street will open ever so slightly lower on the dow jones industrial average. now this. new york city's mayor bill deblasio flew all the way to hamburg, germany to praise their police force. back home he missed a vigil for a murdered officer. liz: he skipped out on officer fa familia. and she was shot in the head. and a group paid for deblasio to go to germany. he joined thousands in the protests, hundreds of cops were injured. while he's in germany, he tried to say our right to protest is related to the fact that the police protect us. that got missed in the melee

with the local press and people here angry, including the family of the slain officer, saying why-- people are saying, why didn't you come to the vigil and saying to deblasio, you promised bullet-proof glass windows in all vehicles. they're slowly rolling that out. not enough to protect this slain officer. so he's getting really ripped right now in the local press here in new york city for doing this, for going to the protest and not attending this vigil. stuart: the mayor's son, dante, i think it is, he said during the mayoral campaign two years ago he was afraid of new york city police. that young man is now doing an internship in berlin, in germany. liz: and the mayor deblasio visited with his son there and he skipped out on the swearing in for 525 new police recruits as well. stuart: we're going to open the market in four minutes' time. we'll be ever so slightly lower. this is monday morning, you're watching "varney & company."

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>> all right. look at the opening of the stock market in about 25 seconds' time. the back drop to today's trading is the same as it's been for some time. that is political chaos and by that, i mean doubts about

health care reform, doubts about tax reform taking place this year. that's chaos politically and on the other side of the coin is, wall street seems relatively solid. we're opening in five seconds and the dow will be what, maybe 100, 150 points away from its all-time high. bang, here we go. 9:30 on a monday morning, we're up and running and we're down. down 32 points, down 33 points. 21,383. i believe we're now, what, 150 away from the all-time record high and opening with a fractional lost. plenty of red on the left-hand side and running down 30 points. who is with us on a monday morning and i'm back from vacation. lucky you. ashley webster is here, elizabeth macdonald, they've been slaving the last week without me. thank you, ladies and gentlemen, thank you indeed. with us shah gilani, and scott

shellady looks like he's still in london. what's going on? >> the foreign overseas editor, trying to keep things on the ground. anything you want to know about europe, throw it my way. stuart: you'll do anything not to go back to illinois. [laughter] >> it's not going to be there when i come back, it's going to be rounderville or something. stuart: start with the big five technology companies. they've had a rocky road and a little bit has come back, not much, but higher for some at least. scott, what do you say? is it time to get some money back into the big five? >> look, you know what? you want to invest over time and put money to work over time on these stocks. this is where you want to be. these are the things that are going to carry america forward. i just would like to see a study that shows us how much technology is now starting to recreate the economy. it stopped affecting the economy and it's now recreating it and i'm sure you'll talk about it with the retail ice age later. these are the things you want

to be with. these are 5% of stocks that are going to start to show us the way forward. yes. do you put your inheritance from granny in there now? no, but you do over time. these were outperform and the place to be. stuart: bearing in mind i do own some microsoft stock, shah gilani, repeat what you said earlier about buying microsoft and other of the five big name tech stocks. >> all the big tech stocks had sold off in that little bump, if you want to call it that. there's no reason for them not to go back to the all-time highs as long as the market stays strong and looks like it continues to go up. that said, of that group, i i can liao-- i like microsoft the best. it's in a great position to move forward. this is where the growth it, what america is about. they have the market share they're expanding and the

numbers are astronomical. this is where the growth is and that's why the stocks are hot and they're going to continue to be hot. stuart: all right, let's talk about amazon. their prime day. i think that's the correct expression. the time day, starts tonight. i think it's 9:00 eastern time. amazon shares have come off their eye, which was 1,017 a share. so, shah, you think, repeat again what you said earlier. you do believe that amazon gets back to $1,000 a share and makes a new high, correct? >> absolutely. stuart, it's a short little hop to a thousand from where the stock is today. i don't think it will take much to get it there. the prime day and numbers that come out of that might be the impetus to move the stock higher, i don't know if that alone will take it to $1,000. no reason it can't get there and won't be there. the amazonization has occurred.

stuart: give me an idea on the amazon day. liz: it's like christmas in july. hundreds of deals that go out and what's key to watch is how wal-mart responds to amazon prime day. whether they'll do a rollout push. this has been a very, very popular feature and they've gotten a nice sales bump, a sweet sales bump for this. stuart: i have not participated. do you get real bargains. liz: yes, 80% off, 85. stuart: really. liz: sure, i've done it. stuart: a shoe polishing outfit for-- >> i could see you taking that. stuart: stop laughing, shellady, i can hear you from london. let's get to politics, if we get a slowdown in the president's growth agenda, what will it do to stocks? i ask this question, scott,

because health care looks dicey and so, too, does tax reform. what will it do to stocks if we don't get health care reform and don't get tax reform? what happens? >> well, two words, sentiment and confidence. if you run a bunch of salespeople in your firm and they go out to try to sell your products and ask them how they did and they say, well, we had a great meeting. you really can't buy anything with a great meeting. you need to sell something and make some money, right? so we're up here on sentiment and confidence, but we haven't made any money. we haven't shown-- the rubber hasn't met the road. we haven't seen the proof in the pudding. if it doesn't and they faulter, stocks have to back off because of that because the expectations, we're back in the hopium with barack obama, if we don't get something done, the then we have the sentiment and confidence laid up. those are the two i think so this hardest to get going into

the right direction. the easiest things we seem to be faltering. i'm as frustrated as all americans. they've got to do something or or it's their demise. liz: and revenue, and funding tax cuts. chuck grassley on saturday night tweeted out if you don't do health care reform and fix barack obama, we will go-- fix the obamacare, we'll go from majority to minority. ashley: they're not getting the message yet. stuart: before i leave this subject. shah gilani, what happens to the stock market if we don't get health care reform and don't get tax cuts? >> well, right now, it's looking like we don't get either, stuart. i think the market will dip a little bit. i don't think it's going to crash or do anything horrendous. i think maybe some profit taking with expectations and wait and see and maybe next year get something done. there is still, still, an outside chance that we can see

something done on tax reform for the middle class, if the president can push that through before the year end, the market will rally on that, that will prove the president can get something done, and the following year for the market and the president and the country, pa big win. stuart: there seems to be wait and see in the market this morning. we're seven minutes into the session and we're down what, 23 points. that's where we are on the dow and that puts us at 23,3-- and abercrombie & fitch. the stock is now down 15%. that's a 17 year low for that stock, okay? a problem, i would say. and then we've got sears closing yet more stores. play that organ music, grim reaper. ♪ . ashley: oh, boy. stuart: 35 kmart stores closed eight sears stores and brings it now to more than 300 this

year. sears ceo eddie lambert said we tried hard for return our profitable stores to a competitive position and we don't make the decisions lightly. we have to be more competitive. liz: many years? eddie lambert was in 2004. it's had a slippery ride ever since and hardly been profitable over that 13-year span. stuart: this is a great time to talk about the amazonization of america. ashley: wow, there's a word. stuart: scott shellady. >> only an englishman can say. >> it's called being amazapped. stuart: great a day for it. you've got amazon prime day and you've got sears in real trouble, abercrombie, real trouble and countless others in real trouble. the latest installment, i should say, of spider-man a big winner for sony box office leader. didn't do much for the stock,

up just 12 cents. moving on to starbucks, the majority of their workers say, the company stores are understaffed. now, i'll get to scott shellady in a moment and he let out a huge sigh. ashley: he did. liz: what's going on, the u.s. store traffic has been down for two quarters, and what did starbucks do? they said, we're going to have people ordering coffee over their devices, so the mobile apps surged and orders went up, they didn't do staffing and surveys of the workers, we're handle the mobile device order, we only have one person as a barista. we're understaffed. we have congestion in the store and foot traffic, they're walking out. 11,800 workers are on a campaign saying to starbucks ceo, new ceo kevin johnson, stop the understaffing. if you want to make your sales targets and by the way, they cut down sales targets, starbucks did the beginning of the year. if you want to hit your new sales targets, you need bodies there. stuart: an interesting story. then from barron's, they say

oil could hit $60 a barrel by the end of the year. cited an analyst on citi. scott shellady, what did you do to that? >> it could hit 60 a barrel, it could hit 30. i don't pay much attention to the fact that we've got such huge oil finds in west texas and up in alaska, the economy is clearly not running its wheels off here, we have a long way to go to get above that 2% growth level. there isn't a bullish case for it could be made. i'd be more bullish on oil if someone could show me how to burn it much cleaner. but right now, it's still an oversupplied market and that's the case for the short-term here and i think that that's going to struggle to see oil get through that level. and on top of that, we've seen the dollar get cheaper and it hasn't moved. if anything, it's gone down. as the dollar has gotten cheaper and that's not good either. stuart: i don't like making

forecasts, but i like making this one. oil is going to drop below $40 a barrel. back to you, what's the chances of that happening? >> there's a chance that that could happen. you could see oil between 47 and 41 by labor day. and that could be on the cards unless we have something geopolitical that shocks it out of it. to me, that feels weird, something is wrong and i think that trade is heavy. stuart: we'll see what happens as we always do. i'm going to say thank you very much to shah and scott, thanks for joining us on an important monday morning. the market, by the way, it's kind of go nowhere, 11 minutes into the session, we're down just 15 points. i should say that some of the five big tech companies are on the upside this monday morning. we'll check them for you. isis on the run in iraq. mosul retaken by iraqi forces. how close are we to, really, destroying isis? general jack keane on that next. how about this headline from elon musk.

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wherever you are. >> it's a narrow loss on a business in wall street. apple's market share in renting and selling movies, that market share is actually down. tell me more about that, please. nicole. nicole: apple's market share is down. the whole rental video on demand market is down. but what's interesting is they're losing market share. they had about 50%. now it's down to about 20 to 35% on the itunes to rent the video or buy the video. to rent the video costs about $6.

$15 if you want to buy it, which is comparable to something like amazon, beauty and the beast. which is a newer movie, slightly more expensive than the prices on amazon. big picture, the whole on demand thing is weighing on itunes and could be weighing for apple going forward in this particular area. there's a lot of competition out there, stuart. at the beach club, talking about bloodlines, game of thrones, the affair, so there's a lot of competition what to watch out there. stuart: the beach club, did you say there? >> the beach club, it was not my own. stuart: that's all right. didn't want to put you too much in the elite. thank you very much. some confusion about elon ufshg m and what he's actually said about the world's population. yes, it is accelerating, he says, but after it accelerates, i believe i'm right, e-mack, it

will collapse and the population will come down. liz: he's essentially agreeing with a magazine new science, it will crater in 2076. declining birth rates in u.s., china and japan. and china the fertility rates dropping and these other countries may follow. and new science says yes, this will happen in 60 year's time. and africa fertility rates up. stuart: 60. liz: 60. by 2076 the world population will drop. the u.n. says maybe 9, maybe 10 billion people, but new science says, no not in the industrialized-- >> i used to be on the talking circuit, but a big part of the speech was demographics, the birth rate in developed country is so low they're not replacing population.

in 40 countries population is declining and will decline worldwide by the middle of the century. liz: major implications. stuart: huge, huge. in the sale of adult diaper exceeds baby diapers in japan. the population has aged so much. liz: you know what? i could have died wondering about that. [laughter] >> back from vacation, get something new. now this. [laughter]. ashley: oh, my goodness ichlt. stuart: iraqi troops have driven isis in mosul. bring in jack keane. has america changed strategy around mosul to create this win? >> first of all, yes, when the trump administration came in, they clearly delegated a lot of tactical and operational decisions to our commanders, a lot of that was being micromanaged in the past, frankly out of the national security council and seem in the white house.

secondly, they did ease up on the use of air power and removed some of the restrictions that had-- we had had approval at so many levels, you lost tactical advantage. the enemy would get away from you before you had permission to fire. yes, the forces operating there with the iraqis are clearly more effective as a result of these decisions and this has been a tough fight, nine months. they have a right to feel good about it. certainly, there's been suffering here by the iraqi people to be sure. this is not the end of isis in iraq, stuart. they'll return to terrorist activity and continue to blow things up, to undermine the government to be sure. we still got our hands full with isis even though we've taken this key city away from them. stuart: it's important to chalk up a win when you get a win and not to ignore at win because other problems may follow. i think it's important to put the win on the board and i think that's what we've just

done. one more for you, general. north korean state media, criticizing a bombing run by two b-1 bombers on the korean peninsula. north koreans criticized that and don't like it one bit. what say you, general? >> certainly they don't like it. certainly we're practicing what we would do in reality in terms of bombing positions in north career korea, and not in south korea. and that's what we do routinely and they had japanese fighter jets and south koreans in support of this mission. we do this for the training value as i mentioned, but we also do it to reassure our allies that we do, in fact, have their back, particularly after north korea just military escalated by firing off a potential icbm that could reach the united states and did that successfully. you know, this is not military escalation comparable to what north korea's doing.

but it is a reminder, that the united states has considerable presence in this region to help south korea. stuart: do you think that america would shoot down another icbm if north korea launched it? >> that's not the trump team plan to be frank about it. and obviously, we could. the concern that we have about something like that, it's likely an option on the table, is that north korea would likely react if that was all-out war and there fore, react accordingly with bombing south korea and actually starting an invasion of south korea. what the trump team has decided to do, stuart, is go all out internationally and economically, approach every country it does business with in north korea and get them to stop doing that or suffer the consequences with the united states. they're going to give president xi as a result of the meeting at the g20, a little more rope to see if he comes through. if he doesn't, the united states it going to come hard on

china at sanctions going after some of their major banks and entities doing business with north korea. so maximum pressure over the next kind of number of months is what we're going to see out of the trump team. stuart: got it, general jack keane as always, always appreciate it. >> good talking to you, stuart. stuart: we're now 20 minutes into the session, we're down 12 points, winners and losers, about evenly split among the dow 30. another family-run legitimate business put out of business by the irs. find out all about that, a tuxedo store. what's with that? and health care reform becoming more unlikely before the august recess. what about cutting our taxes? think congress has the guts to get that one done? we will discuss. ♪

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we keep hearing, or several people on the program keep saying it will go down right to the very, very last minute on health care and the president will chime in and something, something will be done at the very last possible moment. do you agree with that? >> i still think there's a case for that. it's an important political pledge. it's important to show that the president can move our legislative agenda forward and quite frankly, it's good economic policy. the top priority facing congress for better economic growth if you reverse the tax and regulatory increases of obamaca obamacare, reform, there's a lot more on the table than just the health care vote. this is about the economic agenda and i think they'll realize that. stuart: if they spend a lot of time doing health care and there's finally something done, is there enough left over to do tax reform as well? >> the answer is yes, but they have to have their ducks in a row, the clock is ticking,

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stuart: i'm often asked, what has surprised you most about your 40 years in america? well there has been quite a lot of surprises. one hit me recently, determination of elites to make america more like europe. this was particularly true of the obama years. socialized medicine, open borders, dislike of the military and religion of climate change. they were all going full tilt in the obama years. coastal elites are very much on board with the europeanization of america. it is what they want. this explains the media's intense hostility to president

trump's performance at the g20 meeting. he is not bending towards europeans and media is apoplectic. step back a minute. if you don't want america to be more like europe. if you don't want us to bend their way, then president trump is doing the right thing. he is leading. he may be alone. but pointing in the right direction, the american direction. especially on climate change. mr. trump pulled out of a very bad agreement. in doing so. he has exposed europe's pathetic cave-in to the the greens. on defense spending he is exposed europe's inability to defend itself. he is trying to it lead them out of their own weakness. on open borders, he said enough, we'll control who comes in, you should do the same you europeans. i'm surprised this europeanization trend should have gone unchecked for so long. those of us who come from someplace else, who look at america with admiration, sometimes find it hard to believe that the homegrown

elites so intent making us like them. here is another surprise. who would have believed just two years ago when he descended the golden escalator, that donald j. trump would begin become the president and begin the deeuropization of america, that was a surprise to everyone, and a good one. the second hour of "varney & company" is about to begin. ♪ ♪ stuart: i know it, i know it. you don't have to tell me in my ear. that is bruno mars. i can tell that from anywhere. you're impressed? i lied, they told me in my ear. we're down a mere eight points. 21,400. that is where we are now. amazon prime day starts tonight.

thousands of deals over 30-hour period today and tomorrow. the stock is getting close back to 1000 bucks a share. abercrombie & fitch shares, down big. it is trying to sell itself. that effort has stalled. retail ice age, it is down 18 percent. look at best buy, down after reports that amazon is rolling out its own customer support service similar to best buy's geek squad. down goes best buy, 6%. sebastian gorka, deputy assistant to president trump. welcome back to the program. always good to see you, sir. >> good to see you, stuart. stuart: paris evacuating 2800 migrants from street camps? is this tart of something big, movement, forced repatriation of tens of thousands of people? is that big? >> when you look at numbers and urgency which the government executing this in paris, this is serious issue.

where finally we have leadership, understanding at some point, charity bumps up against reality. the west, europe, america, we are judeo-christian nations. as a result we help people when we can but at some point there has to be reality check. stuart, you have a very nice home. imagine if you put a giant sign outside your home, anybody welcome, come help yourself, open the doors. at some point there is nothing left. so i think that is what the speech in warsaw, from the president was all about. we have to be helpful to those that we can help. national interests must trump charity. stuart: i was on vacation last week, sebastian, but i did hear the president's speech in poland. and i was astonished to hear the left, a lot of people the attacking him because he stood up for western values. i couldn't believe that. since when has an american president not been allowed to

stand up to say i support western values, judeo-christian ethic? since when has a president not been allowed to say that? >> since when? since president obama became the president, right. so when we had the apology tour. when every significant issue deemed to be something caused by america, that ended january 20th. we're back asserting he we are, our american values we want to be friends with anybody that shares those values especially great nations like poland. that all changed about 24 weeks ago. stuart: in my editorial at top of this hour i said elites in america and elites in europe, for that matter, they want america to be more like europe? do you agree with that? is that the position of the elites? >> i think a large chunk. it is very much part of the left-wing idealogical radical wing captured the democrat party, most of the mainstream media. the fact we have a man who is

proud, the president is proud of what america stands for. then he is being accused of being racist. it is asinine, stuart. it is self-loathing it is what it is. stuart: it is

got to have health care and tax cuts, to 3%. you have to get up there and got to do this. five weeks ago, with us. it was five weeks ago.

miserable report five weeks ago. not last week, but five weeks ago. maybe recession around the corner. maybe poor jobs numbers. >> audience can be their own economist, business cycle theorist. this is what they watch. if the moving six-month average of payrolls false under 100,000 jobs per month, you're already in recession or recession is right around the corner. what happened is, maybe old jobs report, monthly increase by jobs was down to 120,000. now, however, we have strong report for june. and the three-month average is up to 191,000. better yet the 6-month average is healthy 180,000 new jobs per month. stuart: enough with talk of rao he session. >> for now. enough with that talk. keep eye on unemployment rate edged hire. once the unemployment rate increases year-over-year three months, you're probably doomed as far as business cycle upturn

is concerned. stuart: let's not end it on that. >> i'm from moody's. we have to look on the dark side a little bit. stuart: oh, you do? >> that is what an economist is supposed do. never trust an optimistic economist. stuart: never. john, appreciate it. now this, sears closing dozens, not sure the exact number. they're closing dozens more stores, what is it, liz? 43. liz: 43 stores in 23 states. here is what is going on. sears earnings per share losses 1straight quarters. eddie lampert bought this company in 2004. it has rarely been profitable. they have sold $200 million of real estate year-to-date. here is the backstory. their did not at nearly 4 billion is about five times their market value. so this, in other words, sears market value is trending $784 million.

the debt on balance sheet is nearly 4 billion. stuart: john? >> this friday we get a report on retail sales. that is expected to be weak again. consensus retail sals up .2 of a percent. , concluding gas station sales. that type of monthly increase is not what you need to revive the retail sector. also warns of continuation of subpar economic growth. stuart: do the retail sales include amazon's numbers? just bricks and mortar? >> a lot is based on bricks and mortar. attempts to include what happened over internet. liz: bricks and mortar are like 70%. >> non-store sales. that the gets into the lags. stuart: retail ice age stands. bricks and mortar in particular hit by glaciers. got it. congress officially back to work today. another brake coming up soon. what can they get done the next three weeks before next recess? congressman chris collins will

weigh in on that one in a moment. the irs shutting down a mom and pop dressmaker, sold their entire inventory in matter of hours. unbelievable story of ruin for people that own the business. plus signed certificate after amelia earhart flew across the atlantic, up for action. you won't believe what it is going for. you're watching second hour of "varney & company," stay with us, please.

♪ >> de blasio is anti-cop. he has always been anti-cop. the nypd force, they know that. i bet you a lot of cops at ceremony were happy he didn't bother to show up. so hard for cops to do their jobs today. because of anti-police environment that has been created by politicians like de blasio and president obama. stuart: that was kristin tate

talking about new york city mayor bill de blasio who went to the g20 summit just days after nypd officer was murdered and mayor skipped the vigil and mourning for her. police officers are not happy. ashley: i think furious is more appropriate word, stu. he praised police in germany in a speech in amburg as the g20 was going on. he said our right to protest is directly related to the police protect us, so help me join in applause, thanks for the police. meanwhile he misses an evening vigil honoring that new york city police officer who was shot and killed in her vehicle assassination style. as you can imagine the police, the rank-and-file, very, very upset. he is on this all-paid junket to germany praising police over there when one of new york's finest is gunned down in cold blood.

there is no excuse for that. liz: not good enough. rally organizers paid for his junket on that junket he could visit his son dante studying in berlin. hundreds of officers at the prohe tests for g20, were shot with laser beams in the eye. stuff thrown at them. 42officers were injured at protest de blasio attended. >> says it all, doesn't it? stuart: well usaid, ashley. congress returns after one week on recess. joining you congressman chris collins from new york. >> good to see you, stuart. stuart: what your constituents telling you during the recess about health care reform? >> anxious for us to repeal obamacare. people working part-time jobs because of 30 hour rule. want to get back to one

part-time job. i met with the chamber of commerce. want to offer health insurance to members. they lost 25% of the mihm to obamacare. they could no longer offer health insurance products. everyone from companies to individuals want products affordable, give them coverage they want, not one size fits all. they are frankly somewhat desperate for us to get our job done. we've done it in the house. we need mitch mcconnell and senators to get as you bill this week. it will go right straight to the president's desk after we pass their bill in the house, i'm sure we will. we need them to do their job. stuart: do you think it will get done, congressman? we had countless people on program, odds are it is looking shaky. odds are we're not going to get it done. what do you say? >> oh, you know, i'm just frustrated. we need 50 out of 52 senators. that is the way constitution works. we have five senators at least

which seems to be on the opposite ends, whether medicaid expansion or very role we have in the individual marketplace. i would like to say it is toss-up. if it is i think mitch mcconnell can get the votes f we have more than two senators, right now we do, standing firm they don't like either proposal, i like the clean repeal of obamacare. we all campaigned on it. get it done. we can work on replacement piece over next year-and-a-half. there is plenty of time. but let get it repealed. every member of the house is frustrated that our senators are frankly not doing their job. stuart: what about working through the august recess? a lot of people, before i went away on vacation a lot of people were saying you have to work through august. i have not heard much about lately. are you still pushing for work all the way through august? >> when it comes down to it, stuart, we did our job in the house. we passed a repeal and

replacement bill. some people didn't like it. some people in the senate said it was dead on arrival. we've done our job in the house. it is time for the senators to do there. if mitch mcconnell decides to keep the senate in session to get us a bill, i'm all for it. if that bill does come over, we can come back in moment's notice. send that bill to the president's desk. doesn't mean the house would want to be in session for the next five weeks. stuart: got it, chris collins, republican new york. always a pleasure. >> always good to be with you, stuart. stuart: yes, sir. tonight, 9:00 eastern amazon prime day begins. discounts, special deals for the 79 million american prime members. we have inside look how amazon is preparing for this. that will be next. ♪ at fidelity, trades are now just $4.95.

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hello, mr. deets. every branch running like headquarters. that's how you outmaneuver. stuart: it really is tough holding a retailer's stock. look at best buy, way down, 7 1/2% today, on reports that amazon is going to roll out its own version of best buy's geek squad. there is a threat. amazon getting ready for its biggest event of the year, prime day, which starts tonight. hillary vaughn at seattle-tacoma airport, see z tack. what are they doing, hillary? reporter: time day is biggest day of the year for amazon, not black friday or cyber monday. they're deploying this aircraft. you can see primeair cargo planesbehind me.

these are, go across the country to deliver their deals to customers. they carry up to 25,000 packages at a time. this is all a part of amazon's operation to make sure things go smoothly on prime day. >> we may be a little pick lar. this isn't pressure. this is fun. this is what we do. satisfy customers, deliver ultrafast product. reporter: prime day is not all about amazon, believe it or not, a lot of it is about small business or entrepreneurs. 40% of lightning deals go straight to small businesses or entrepreneurs. most see their sals triple on prime day. stuart: thank you very much. seems like we're giving a giant commercial for amazon. ashley: they do everything as well. including get attention. stuart: their logistics become a story. look how many packages per package.

we should start charging them. media pile on of president trump continues. made up story of handshake snub with poland's first lady. outrage of ivanka trump sitting in with her father over a meeting. we're all over that one. president trump meeting face-to-face with putin for the first time. ralph peters said we would know immediately if trump gave in to putin. so, what does ralph he say now? he is next. ♪ today, we're out here with some big news about type 2 diabetes. you have type 2 diabetes, right? yes. so let me ask you this... how does diabetes affect your heart? it doesn't, does it? actually, it does. type 2 diabetes can make you twice as likely to die from a cardiovascular event, like a heart attack or stroke.

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stuart: go nowhere market thus far today. we're down four points. look where we are. 21,410. how about those big tech names.

they have been making the going on wall street for a long time now. all of them up today, except apple down quarter of within%. apple back to 143. all the rest of them powering very close to all-time highs. retail stocks really taking it on the chin again today, including costco. they got a downgrade. the stock is down two bucks at 152. abercrombie, sears, best buy, other retailers sharply lower. retail ice age. that is our story. mainstream media criticizing president trump because ivanka sat in for her father with a meeting with world leaders at g20 summit. that is what happened. the media critized her and the president for that. here is what the president tweeted today. if chelsea clinton was asked to hold her seat for her mother as her mother gave our country away

the fake news would say, chelsea for press. angela merkel defended trump being there at the meeting. she was with the american delegation and carries the white house with person responsibilities. angela merkel okay with ivanka at the meeting. you howard kurtz, host of "mediabuzz." how can you explain the media reaction to events in europe, proposed snub of poland's first lady and handshake didn't exist, ivanka sitting at meeting instead of her father. this big fuss about non-entity stories, what is going on? >> the polish first lady's handshake was nonstory. this story involving ivanka trump is of utter insignificance i can't believe it is story at all. president had to step out of the meeting. she sad in. didn't do or say anything with scintilla of controversy. there is just, on the left and

also in some elements of the mainstream media resentment of ivanka trump. she is after all, stuart, a white house official. but they looked to pounce on any perceived misstep. stuart: it is never over though, is it? it is never over. there is huge meeting. there were concrete steps taken at that meeting by our president, staking out the american position. wasn't really covered. it was covered from the european perspective, america is always, always, always wrong. i would have thought this would come to an end by now, that our media would be more supportive of our president what he is doing. it never happens! >> it is fine to critique how he performed on the world stage. which struck me there was so much drama around the trump-putin meeting. would he bring up russian hacking. first thing the president brought up. it took air out of story. there was headlines about isolationism because the president is challenging your european allies and adversaries he is isolationistist, that is

dirty word in the beltway lexicon. vaughn she is actually quite reasonable but why hasn't she convinced her father to change his position on climate change and whole host of issues. this was a chance to whack the president through his daughter. stuart: some of the foreign press did the job correctly. daily telegram, ignore trump haters, his defense of western civilization is right. this is out of australia, trump defines a soaring vision. times of israel, trump wins key climate and trade concessions at g20. they're doing our job for us. i'm astonished. >> there were some that covered summit fairly. this is unusual situation, if you have the u.s. which usually goes along with whatever britain, france, germany want,

at odds issues on climate and trade, that is what donald trump ran on. i find all this negative rhetoric fascinating. not like he invented this yesterday. he said he would do it. got it elected much would try to carry it out. stuart: i'm not critical of you. absolutely not. i'm just astonished at ongoing, this stuff. here is another one. "washington post" facing a backlash for an article that appear to blame conservative radio hosts for steve scalise shooting. titled, alex andrea shooter's hometown, rage filled radio host channels middle america's inner frustration. >> he went to the virginia baseball diamond and shot five people, badly shooting steve scalise, back in intensive care, not mentioned in article. no evidence that this shooter

listened to radio show host. even radio said he probably did i don't know. if you want to bring ideology into it, republican hater, trump hater, left-winger, i would kind of doubt be influenced by pro-trump apparently overheated conservative radio host in his hometown. no it reason to write this story. connection implied, never stated but implied, seems off the mark to me. stuart: every week on a monday morning when you appear on this program we end the interview, just can't believe it, just can't believe it. every week it is same, howard. we always close with a smile. howard kurtz, thank you for joining us. see you real soon. >> all right. stuart: let's talk about president trump's meeting with russia's president putin. joining us lieutenant colonel ralph peters. ralph, you said last week on the show, i was away on vacation. you said we would know immediately if trump gave in to

putin after that the meeting, well, did he? >> yes. putin pitched a no-hitter, and hit a trump with a bean ball. trump gave a great speech in warsaw. i felt like standing up cheering. correcting historical references. speechwriter put justified digs at russia. trump goes to hamburg. he folded. look at the takeaways, from the meeting. our president says, well, both sides admit this much, that he wants to put athe past behind him. in other words, russia get as free pass for interfering in our election. stuart, not about the legitimacy of the trump administration. trump won the election but about russians, putin, interfering with in the fundamental mechanism of our democracy, election system. they need to be punished. is being, much-vaunted deal of local cease-fire in syria primarily benefits iranians and third, not least, the absolutely hammering notion that we would

team up with russia to form a cybersecurity unit to protect our elections? that is like teaming up with the mafia to fight crime. tell me one thing -- stuart: didn't he walk that back? >> he had to. whacked it back yesterday. republicans on capitol hill were so outraged by such a crazy idea. look, president trump made a number of mistakes a, a fundamental one, was not having his national security advisor and probably a few other people in the room, because now, putin is exploiting this lavrov, foreign secretary of russian federation, making all these claims, one of them is, all over russian media, trump admitted that there was no, absolutely no russian interference at all in our election system. i doubt the president admitted that. but without somebody trustworthy like mack master to speak for the president, the russians get

credibility. biggest thing putin got was this, we went back to the 1970s and '80s, only two leaders that mattered putin and trump. huge propaganda victory for putin. if you can tell me one positive, please go ahead and tell me. stuart: it was two hour meeting. i'm not in a position to know what went on in two hour meeting. i am sure there was a lot of give and take. >> a little more give than take. if there were, they would tell us and be proud of it. stuart: your judgment the meeting was a cave on our president's part and putin got everything he wanted and exploited it? that is your position? >> he didn't get everything he wanted because he knew he couldn't. he couldn't get sanctions relief now because of the political situation in the united states. but no, putin has been doing this a long time. he fooled clinton. he beat up on george bush. he humiliated obama. then he put two people in the

room with him who have no background in foreign affairs negotiations and its complexities. rex tillerson's experience is negotiating oil contracts. that is nice but it is not as complicated as foreign policy. my feeling is just this. i want our president to do well. he is our president but, don't underestimate vladmir putin and our president acts as though he is afraid of vladmir putin. he will not criticize, he still hasn't once criticized vladmir putin by name. stuart: real fast, another subject, the two air force b-1 bombers that conducted a practice bombing run with south korea and japan near the dmz on korean peninsula. what do you make of that? looks like a show of force, show of capability of attack more than anything else, is that right? >> well, that is what it is meant to do. it is good that we do it. showing the flag and showing we're still interested. but we've been holding exercises and demonstrations along the dmz

and adjoining waters for so long that the north koreans are no longer impressed. they have seen it all before. stuart: do you want us to shoot down the next missile they launch? >> no, i don't for very practical military reasons. if you have time i can give them to you. i certainly want to shoot down any missile that threatens japan or south korea or us but over international waters don't give away our capability to shoot it down. don't show them that. don't let russians and chinese read the telemetry. i want us to get over this delusion that china is going to help us. china views north korea as incredit hably alley in peace, keeps us obsessed looking away from china and focused on north korea. in wartime north korea would tie down a slice of big u.s. combat power in pacific. china will never crack down on north korea, get over it, move forward. if we can't find a way to stop him in two or three years, it

will be a probably a shooting match and tragedy for all. stuart: ralph peters, we hear you. thank you very much. total change of subject, i mean total. newest "spider-man" movie, having one of the biggest openings of the year. how big was it, emac? liz: 117 million for the u.s. 257 million worldwide. second biggest ever box office opening in the franchise. best in 10 years for the "spider-man" series. as robert downey, jr., may not want to play "iron man" anymore. ashley: too old. liz: chris evans may not do captain america. "spider-man" may do well as reboot. stuart: movies are down. liz: down 8% year-over-year, u.s. box office. bringing it back. stuart: we're a financial program. we'll bring it to you momentarily. the dow is up 4 point, 21,400. we'll be back.

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♪ ashley: jack keane says u.s. forces fighting isis in iraq are quote, more effective. roll tape. >> when trump administration came in, they clearly delegated a lot of the normal tactical and operational decisions to our commanders. a lot of that was being micromanaged in the past, frankly out of the national security council and team in the white house. secondly, they did ease up on the use of air power and remove

some of the restrictions that had, had approval at so many levels, you lost tactical advantage. the enemy would get away on you before you to the permission to fire. yes, the forces operating there with the iraqis are clearly more effective. ♪ (baby crying) (slow jazz music) ♪ fly me to the moon ♪ and let me play (bell ringing) (audience cheering)

stuart: you know the market has turned around. we have a modest upside move for the dow, helped no doubt by the big technology companies. the big five show four on the upside. only one on the downside. that's apple. it is only down three cents. a bit of a comeback by the big-name technology companies as of this monday morning. as you know i'm sure congress is back in session today. earlier this hour we spoke to congressman chris collins, republican, new york, about health reform. he says his colleagues are annoyed with how the senate is handling the bill. roll tape. >> we can work on the replacement piece over the next year-and-a-half. there is plenty of time. let's get it repealed. every member of the house is frustrated that our senators are just frankly not doing their job. stuart: our next guest is shocked that a house member should be shocked at the senate. his name is senator pat toomey, republican from pennsylvania. sir, a pleasure to have you with us. >> thanks for having me, stuart.

stuart: everybody is saying you haven't got a prayer of getting this done. >> don't count out mitch mcconnell too quickly. it is still, it is difficult but there is a path to getting this done i think. we'll have a knew version of this bill which has features that appeal -- stuart: coming today? >> today or tomorrow, for instance, the huge new allocation of funds to fight opioid addictions and other addictions. very appealing to number of senators who have been holdouts. stuart: medicaid? >> medicaid. we put medicaid on sustainable path in this bill, which is absolutely essential slowing rate it grows beginning eight years. stuart: moderates say that is not good enough. you will hurt my constituents. >> what is going to happen to their constituents when the program collapses we have a fiscal crisis because we refuse to do anything about runaway entilement programs. that will be much worse. this is sensible, thoughtful, careful way. nobody gets thrown off. no draconian cuts. slower rate of growth.

stuart: you have to do something, haven't you? obamacare is collapsing. >> it is collapsing. stuart: you can't walk away by doing nothing. >> despite the fact that the democrats created this on their own, the fact we control the government now. we can't sit there idly while it collapses. this bill is important first step. stuart: who is going to bend? is it moderates going to bend or conservatives? somebody has to? >> there can things be done for both. opioid fund something attractive to a lot of moderates. some regulatory relief so we have a shot at seeing lower premiums in freer market driven by consumers. that will appeal to conservatives. staff has been pricing some of those features. so there is a chance to get both sides, both sides together for different reasons. it will not be easy. stuart: one of our guests on the program earlier this morning said it will go right down to the very last possible minute. president trump, trump will jump in, right at the last possible minute and pull together

something. does that scenario sound like it is realistic? >> i suppose it is possible but i don't think so. i think, you know, senate leadership, mitch mcconnell, and colleagues, as a group of folks working methodically with people on -- stuart: you put at the new plan today or tomorrow, and it is mulled over, cbo looks at it, you expect to vote very quickly? >> may not be as simple as that. the vote could be next week, could be the following week. my point is there are changes we know will appeal to some of the holdouts in each of the two camps. stuart: you're right in the middle of this, aren't you? >> i am the in the middle. stuart: principle negotiator rounding up votes. >> no. i'm one of the guys think this is important and constructive first step. repeal taxes stablize markets, put medicaid on sustainable path forward. stuart: forgive me for saying this, you have to hold out hope and say, you can't come on this program, say, stuart not a prayer. >> i could say, talk about tax

reform. that is up next. but no, i think we made a promise. obamacare is failing miserably. this is really constructive first step. stuart: senator toomey, republican, pennsylvania, thanks for joining us. >> thanks for having me, stuart. good to see you as always. stuart: especially come on television, you will get a vote and it will pass. i want -- >> i will be back. stuart: thank you, senator, appreciate it. a mom-and-pop store, dress store actually, closed down by the irs. they wiped out their inventory, put it up for auction in matter of four hours. we'll bring you the details what some people think is an outrage. treasury secretary mnuchin says we will get tax reform by the end this year. newt gingrich says, we need it now. the republican majority depends on it. he joins us in our next hour. and yes, we'll be back. with toothpaste. but they have to use special care in keeping the denture clean. dentures are very different to real teeth. they're about 10 times softer and may have surface pores

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tap one little bumper, and up go your rates. what good is having insurance if you get punished for using it? news flash: nobody's perfect. for drivers with accident forgiveness, liberty mutual won't raise your rates due to your first accident. switch and you could save $782 on home and auto insurance. call for a free quote today. liberty stands with you™ liberty mutual insurance. stuart: the irs shot down a mom-and-pop desmaker, then sold off their entire inventory within a matter of hours. ashley, what is this about? ashley: immigrant couple had run the business since 1983. they have been in business 35 years. the irs claims they owe 31,400 in a tax debt obligation which they haven't paid.

they show up at the store, shut it down, start getting all the inventory together and hold an action on the spot, and selling items on pennies on the dollars, from sewing machines to expensive gowns, sold the lot and got about 1thousand -- $17,000, well short of the tax obligation. they hadn't been charged. the reason they came on the radar, there were cash deposits under $10,000, appearance trying to evade federal banking reporting laws. when in this country could have you have your business sold off, all of your inventory, and you haven't even been charged. stuart: you've been ruined. ashley: they have been completely ruined, right in front of your eyes. stuart: two points, i thought irs was going to back off of seizure, payment of $10,000 in cash on regular basis i thought they would back off but apparently not. ashley: no. stuart: how on earth can you

auction everything off, four hours, raid them after you arrive? liz: this is common. stuart: common? liz: too common. covering the irs for decades. they try to send a message, do things like this. congress was supposed to act on this 10,000 limit of shutting down businesses, called structure financing. and they haven't yet. i just think that this is devastating to small businesses. if you're guilty, again, until proven innocent. ashley: quickly the couple from thailand suing the federal government for $2 million for what they have gone through. stuart: good. little editorial on my part, but good. sue them, baby, sue them. we'll be back.

stuart: if the republicans in the senate cannot agree on obamacare reform, can we please move on? congress returns today, and it sure looks like the gop is as

split as ever, if not more so. and there's only three weeks before the august recess begins. it's time, surely, to prioritize. that is, figure out the most important legislation and get on with it! surely, the priority is tax cuts. the priority is get the country moving again. bring on solid economic growth. many people believe that tax cuts should have come first on the legislative calendar. well, they didn't. we've been stuck on health care. but now, with the time crunch, the focus has to shift. yes, obamacare is collapsing. and, yes, the gop will get some of the blame for failing to deal with it. it will not be pretty. but it's going to be much more difficult for the republicans if they also fail to cut taxes. and they will fail to cut taxes if they don't get on with the job right now. in a moment, newt gingrich will join us. let's see what he has to say about cutting and getting on with job one, cutting taxes now.

the third hour of "varney & company" is about to begin. ♪ ♪ >> let me just say, we're absolutely committed to getting tax reform done year. i think it's critical for economic growth. i think as you've heard us say, we need to get back to 3% or better gdp. and our plan is to have a full-blown release of the plan in the beginning of september with being able to vote in getting this passed before the end of the year. stuart: well, that would be good, would it not? treasury secretary mnuchin promising tax reform by the end of the year. our next guest says the gop needs to act now. author of "the new york times"' number one bestseller, understanding trump, fox news contributor newt gingrich joins us right now. newt, welcome to the program. always good to see you, sir. >> it's great to be with you,

and i think i agree totally with what you said a few minutes ago. we could be an echo chamber here. stuart: it occurs to me that you can't just drop health care reform and start tax reform. you can't just do it like that, can you? >> well, first of all, there are lots of committees in the congress and lots of people can be working in parallel on three or four or five things. they could be working on the infrastructure bill, they could be working on modernizing the government, they could be working on a tax cut, and they could be working on fixing health care. but i agree with you, getting totally jammed up on one topic so you get nothing else done is not a very sound long-term strategy. and i think it's time for sort of a six month let's review reality, and let's have a mid-course correction. we know three things right now about the congressional republicans. they can't do anything really complicated because they don't have big enough margins.

they can't do anything really fast. and they have a very, very inadequate communications strategy which is why the house republican bill -- which is, frankly, not a bad bill -- but it's currently rated so badly in terms of public opinion polling. that's a communications problem more than a substance problem. so if those three things are true and if secretary mnuchin really wants a bill signed this year -- and i think the goal ought to be to get it signed by thanksgiving, it'd be a great thanksgiving week moment to have more jobs, more take-home pay, better economic growth, that ought to be our goal -- they should announce the core parts of the bill in the next two weeks. they should spend all of august explaining why we need lower taxes in order to have more jobs and more take-home pay. and then they should move the bill in september. not just begin hearings, but move the bill in september and try to get to a signing ceremony by thanksgiving. stuart: you say that's what they should do do, but i'm reading between the lines. i don't think you believe that's

what they will do. because they are bound up with this one issue, health care reform. but again, newt, they've got to be -- >> no, i'm not -- stuart: you can't just leave it collapsing. you can't do that. >> no. no, but they may -- look, part of politics is understanding what you have to do and what you can do. and sometimes what you can do is less than what you have to do. i mean, it was business -- bismarck who said the art of the politics is possible. i have enormous respect for mitch mcconnell. he will eventually sort this out. my point is you don't want to wait on everything else while they're trying to sort this out. i think we can write a deficit-neutral tax cut that's enormous, we can get jobs growing, we can get relief to the middle class, we can do all of it in a bill that is very simple, has very limited opposition. and then let the democrats explain why they want higher taxes, slower economic growth, fewer jobs.

let's spend all of august debating which is the right direction for america. the slow growth of the eight years of obama or the rapid growth of ronald reagan. i think trump identifies with reagan's rapid growth, and i think he could win that case if he barnstormed the country. stuart: does the administration call you for political advice as you're outside the administration? do they pick up the phone and say, newt, what are we going to do? [laughter] >> i think it's a two-way street. listen, i chat with them often enough, i don't think they feel neglected. [laughter] and they're very open. i have a very good relationship with virtually everybody in the administration. and because i was speaker of the house and because we balanced the federal budget, we reformed welfare, we reformed medicare, i think there's some credibility if i suggest, look, there's a way to get this done by thanksgiving. why don't we try to do something that we know will work rather than repeat the last six months? stuart: i want to talk about the response to president trump and the g20 meeting.

he's not bending to the european way. the left is apoplectic about this. listen to what the president's deputy assistant, sebastian gorka, told us last hour. roll tape. >> we're back reasserting who we are, what american values are and how we want to be friends with anybody that shares those values, especially great nations like poland. so that all changed about 24 weeks ago. stuart: newt, can you explain to me why it is that an american president is criticized because he supports western values? what's going on? >> sure. because there's a bloc of elitist, left-wing academics and news media and hollywood types who despise western values, who dislike the idea of western civilization, who have a fantasy world in which everybody would be wonderful if only america was weak and who are totally out of touch with reality. but they're very sincere. they have tenure, they represent

enormous power in the academic community, considerable power in the news media and enormous power in hollywood. and that's just a fact. we have a fundamental split in this country between those who believe that america's a force for good and those who believe that to even say the words western civilization is inherently racist. which i think, frankly, is insane. but there are a lot of very powerful, very influential people who believe that with great sincerity. stuart: i was on vacation last week, but i did tune in to watch the president's speech in poland. and then i was consumed by watching the media's response to the speech. they were consumed with the handshake, was it a handshake or was it not a handshake with poland's first lady. and then ivanka sits into a meeting. should she sit in or not? [laughter] here you have the president of the united states making a bold declaration of support for western values, just what a lot of us wanted to hear, and the media goes off on this tangent about a handshake and ivanka trump.

is it ever going to stop, newt? >> no, probably not. i mean, abraham lincoln faced this for most of his presidency. andrew jackson faced this. the objective fact is the washington press corps focuses on a narcissistic, internally-organized ability to have gossip and trivia. if you take, for example, the picture of the first lady of poland walking past trump. when you see the whole picture, it's clear what she's doing. she's looking at melania, she's walking over to shake her hand, and then she turns and sees trump, and she shakes his hand. to take that and turn into it a story is a sign of a pathology. these are people who need psychiatrists. [laughter] and you've got it over and over again in this experience. calista and i felt strongly about it because we've done a movie about john paul ii going home to poland. so we were very enthralled, and calista's half-polish.

it was a great, historic speech. it was comparable to the westminster speech of reagan in 1982. and i think that it was a clarion call. and, by the way, it actually built on his inaugural address. people tend to forget in his inaugural address he said we're going to strengthen old alliances and create new alliances. we're going to unify the civilized world against isis and radical islamic terrorism. that paragraph tends to be skipped by people who want to create a false image of who donald trump is. stuart: all right, newt, you said it clearly as you usually do. thank you very much for being on the show again. >> great to be with you, thanks. stuart: yes, sir. check your money, the big board shows a nice gain, 21 points. we're at 21,436. the big tech stocks are rebounding from theirs losses of last week, and the some degree, the week before. maybe that's helping the overall market. apple, amazon, facebook, alphabet, microsoft all of them on the upside this monday morning.

sears closing another 43 stores, bringing the total number of store closings to more than 300 for sears this year. down goes that stock, a near 6% loss. how about the price of oil? barron's says it could hit $60 a barrel by the end of the year. they were citing an analyst from citi. right now it's at 44. look at the price of gas. the national average has risen a bit over the past few days. it's back now to $2.26. still pretty low but up a little in the last few days. >> one cent, i think, from friday. >> i find it highly disturbing. [laughter] stuart: well said, liz. so do i. a lot more for you ahead this hour. peter morici says if the trump administration doesn't keep its promise to fix the deficit, health care, taxes and entitlements, we could be heading into a recession. he's on the show. a growing number of states are fighting minimum wage hikes. in maine workers didn't even want the higher pay. workers successfully lobbied to

lower their wage. is the fight for 15 dead? zane tankel's coming up. he runs a ton of applebee's restaurants here in new york and the metro area. and this is for you, baseball fans. later this hour we have a 1976 johnny bench all-star game bat here on set with me. it's a jam-packed hour, and it's just ahead. ♪ ♪

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stuart: ah, there's a growing number of states fighting against minimum wage increases. in maine, for example, workers there successfully lobbied to lower their minimum wage target. and in missouri lawmakers are cutting the minimum wage in st.

louis from $10 back down to $7.70. zane tankel's with us, apple metro's ceo. he runs a few restaurants and does a lot of other stuff as well. welcome to the show. >> thank you, stuart. stuart: now, all this minimum wage hiking, that's all part of the fight for 15. is that fight dead? >> it could be. but, you know, there are people that have vested interests camouflaged as helping the most needy can, and that is the folks fighting for $15 minimum wage. the reality is if something comes, becomes prohibitively pried, you find an alternative. -- priced, you find an alternative. stuart: of course. >> i've always said increasing minimum wage is technology's best friend. we have a thousand less servers this year than we did this time last year. stuart: you run 42, 43 applebee's, and you've got a thousand fewer wait staff. >> yes, sir. stuart: you employ technology? >> yes, sir.

stuart: and you have runners from the kitchen to the table? >> exactly. you know the business. stuart: i mean, i say this constantly, that's what you see. >> we're not quite newark airport, because that's really impersonal. we have servers, but they're moving more and more to a concierge type of a person, comes to the table, can i help you, do you need assistance with the tablets, can i get you anything immediately? and making people feel warm and comfortable so that the model now that we're heading towards where we had one server for three or four tables, we're moving towards one server for ten tables. getting -- eliminating about two-thirds of our labor, ultimately. but it's because of the cuomo, de blasio, the liberal agenda. it's all really good if you have a job. stuart: yes, right. >> right? if you don't have a job -- stuart: you're a youngster. you want to get your first foot on the running of the ladder --

>> if you don't have a job, $100 an hour doesn't help you, right? stuart: well said. you don't just run restaurants, you do all kinds of -- including trade -- oil. >> yes, sir. stuart: you're big in the oil patch. >> not trading, we have an oil services company that supports rigs in the basins right now. stuart: so what do you make of this story in barron's magazine where they're suggesting $60 a barrel for oil by the end of the year. i don't think there's a chance of that happening. what say you eau though? >> well, you know, the reality is we've been lifting rigs, there's probably three times as many rigs up and running now as there were this time last year, just the opposite inversion of where i am with labor. rigs have been coming -- stuart: really? >> yeah. we can lift oil in the united states out of the basins now for about $25 a barrel. we can lift oil. so anything over, say, $35 a barrel gives us the margins that we need to continue to get more

and more into oil. stuart: so if the price of oil does go up a little bit more, 50, 55, in come the frakers, in come the drillers -- >> they're coming back now. they're coming back right now. we've got, i think, about p -- 700 rigs. we were down to about 330 a year ago. we were at the highest point about 2700 rigs. yeah. when it was $110 a barrel. about, i'm giving you rough numbers -- stuart: i'll take it. i love those american frackers. >> well, i'll tell you the big deal here more than anything else is we're going to be able to be an oil exporter as opposed to an importer. changes the economic environment -- stuart: it was little noticed, but in the g20 communique, america's going to be sending natural gas to europe -- >> we're doing it. stuart: helping them with fossil fuels -- >> which puts us head to head with qatar who is the largest

natural gas exporter in the world. that's why they're so wealthy these days. yeah, you know, there's really good things ahead of us, and -- everybody talks about becoming oil independent. no. we'll be much more -- stuart: oil dominant. >> oil dominant. stuart: you know, why don't you appear every monday morning? >> well, why don't you invite me? [laughter] stuart: we like a guy that's got positive news. >> i did try to show up several times, stuart, they quicked me out! stuart: -- they kicked me out. stuart: check this out, please. a new photo recently surfaced. it shows a woman who looks like amelia earhart and her co-pilot. the photo was taken 80 years ago in the marshall islands. some believe this may be proof she survived the crash and was captured by the japanese. well, later this hour we have the certificate of landing from amelia earhart's first trans-atlantic flight. that's in addition to johnny bench's bat.

why are we bringing you all of that? because those items are up for auction, and we're going to show you. this story either about you or your parents or both. american seniors employed at the highest rates in 55 years. pew research says millennials have surpassed baby boomers as the nation's largest living generation. so if seniors are staying in jobs longer, what does that mean for millennials getting out of college and looking for a job? >> yeah. stuart: of course we're on it. >> thanks, mom can is and dad -- mom and dad. stuart: of course we'll be back. ♪ ♪

♪ we hold these truths to be self-evident, that all men

are created equal, that they are endowed by their creator with certain unalienable rights, that among these are life, liberty, and the pursuit of happiness. ♪

>> my chance to prove myself. >> you've got to get better at this part of the job. >> i don't understand. oh! i'm intimidated. stuart: all right. that was a clip fromspider-man: homecoming. took first place at the box office this weekend. brought in about $117 million, that's just in north america. it's the first number one opening of the year.

the stock price is up about .6%. facebook slashing the price of the oculus rift. second time they've done that this year. they cut the price almost in half, down to $399 apiece. the new price puts the oculus rift on par with its got to have, sony's playstation vr. wildfires ripping through california's sierra nevada mountains. four square miles burned, four firefighters injured, ten structures destroyed, triple-digit temperatures. that's making it very difficult to knock down those flames. paris, authorities there evacuating 2800 migrantses from makeshift street camps. they're taking them to temporary shelters just outside the city. dozens of middle eastern and african refugees pouring into paris every single day. setting up tents, sleeping in wags on the streets -- in bags on the streets. they're distributing them out of

the city now. north korea, the u.s. flying two b-1 bombers over the korean me anyones la friday -- peninsula friday in response to north korea's recent missile launch. we'll have a lot more on that in just a moment. and president trump responding to a report claiming former fbi director comey's memos contain classified information. economics professor, peter morici, he's next. if we don't get the growth agenda in place, we could be heading for recession. i'll press him on that. morici is next. ♪

stuart: it is 11:30 eastern time right here in new york. check the big board, we are up just seven points. winners and losers about equally split on the big board. politics. former house speaker newt gingrich joined us at the top of the hour. he says, forget health reform. it's time to move now on tax cuts. roll tape. >> they should announce the core parts of the bill in the next two weeks. they should spend all of august explaining why we need lower taxes in order to have more jobs and more take-home pay, and then they should move the bill in september. not just begin hearings, but

move the bill in september and try to get to a signing ceremony by thanksgiving. stuart: basically, newt gingrich is saying get on with it, and get on with it now. tenured professor of economics, peter morici, joins us now. peter, you say -- i believe i'm reading in this correctly -- if we don't get health reform, if we don't get tax cuts this year, we're heading for recession. is that your position? >> well, there's a real danger, let's leave it at that. the economy's been building up a lot of negatives over the course of this recovery. consequences of monetary and fiscal stimulus have run to ground. and so now if we don't get another jolt, the effects of this very uncompetitive tax structure, the burdens of obamacare and so forth, there's a real danger they could pull the economy down. not to mention the entitlement state. this administration has to start getting something done on health care, taxes and entitlements, or this economy's just not going to function right, and it's in danger of slipping into recession. stuart: well, with that kind of

pressure you would think that we would get some action on health care and on tax reform. can you handicap it for us? what's our shot of getting both this year? >> both this year, i would say no more than one and half, likely one in three. stuart: okay. i've got to bring this to your attention. we got this from pew research, i understand. a growing number of people are delaying retirement. in fact, it's almost 19% of people aged 65 and older who are still working at least part time. what does that do to the economy? >> well, it's an indication of how poor the economy has been. you know, over the last 17 years, this century, the stocking market hasn't made extraordinary gains. after going down, it came back up. and is a lot of people's 401(k)s and so forth not in very good shape. traditional pensions, many of which have been wiped out because of a slow growing economy. so people simply have to work longer. they're attractive to employers because, frankly, older people

in a lot of categories are more skilled than the young people that would replace them. stuart: it's a problem though for baby boomers, actually, for millennials because millennials are now the largest living generation in terms of numbers. they've surpassed the baby boomers. so these retirees, they're not retiring, they're still working. that's a real problem for 20-somethings, isn't it? >> well, a lot of these 20-somethings don't have the skills they need to replace the baby boomers. colleges and universities, 40% of the graduates haven't benefitedded much from being in college. there doesn't seem to be much evidence of a lot of value added. many high school graduates don't have any trade school whatsoever to fill positions. getting a degree in history these days doesn't get you very far, and the past administrations have been good at lending people money to go to school to get useless diplomas. stuart: well, that's not very good news, is it, peter? >> no, it's not. and it doesn't say very much about my colleagues. stuart right. [laughter]

>> they think that educating people on the failings of american civilization and political correctness is the path to prosperity. and really it's only a path to their prosperity. but the reality is, and we hear this over and over again, is that one of the things that's holding down productivity growth is that the people that are replacing the baby boomers that do retire, and two-thirds do retire, just aren't as productive as these old folks, these people who move slow, think slow and so forth, at 66, 67, 68, guys like you and me are just a lot more agile and bright and thoughtful than the typical 25-year-old. stuart: yes! [laughter] well said, morici. >> you and i are going to be doing this for another 20 years. stuart: i doubt it! [laughter] >> oh, stu, no. come on, i can see you doing this at 86, 87, 88, no problem. stuart: okay. hey, morici, you're all right. thanks for joining us, we'll see you real soon. now this, president trump responding to a report which

claims former fbi director james comey's memos may have contained classified information. here's the president's tweet. the response. james comey leaked classified information to the media. that is so illegal. fox news anchor, former defense attorney gregg jarrett is with us. so what with, gregg? [laughter] >> what do you mean so what? if it's true that he leaked classified information to the media, that's a violation of the espionage act. that's a felony. punishable by up to ten years behind bars. what do you mean so what? [laughter] stuart: it's one -- >> varney comes back from vacation, and he's drinking too much caffeinated coffee. stuart: that's probably true. [laughter] it's just one more incremental development in the comey, russia, russia, russia story, and nobody can keep track of it. nobody knows who's at fault, what's insinuated, what doid what. nobody knows this. nobody. >> president trump may have overstated what comey did.

all we know is that comey took with him at least one of the seven memos and leaked it to a friend who leaked it to the media. comey insists it was unclassified. if that's true, then it's not a violation of the espionage act, although maybe another crime, converting government property -- and that memo is clearly government property -- for your own personal or use and then leaking it to the media. that could be a crime as well. but look, the point here is the hill has come out with a breaking news story that says of the seven memos that comey wrote about his meetings with president trump, four of them are classified. now, we haven't confirmed that. but if it's true, the question is did comey take those classified documents out of the building, home to his own abode, which is an unauthorized, unclassified location? if he did that, that's a crime. stuart: okay. i think i've got it. and if that's a crime, if he did that and if it's a crime, that's

good for trump. >> well, no -- [laughter] >> exactly. >> look, it's bad for the american people. stuart: i hate to say that -- >> you should never have the former director of the fbi violating the espionage act, if that's what he did. we just don't know how many memos he took home with him when he departed. stuart: you realize that you lawyers, i know you're a recovering lawyer, but you lawyers -- [laughter] really are screwing up our political life something rotten, and you know it, don't you, jarrett? >> we're the only ones getting rich off this whole thing. [laughter] stuart: gregg, you're all right, and you may return to this program next year, shall we say? >> i'll hold my breath. stuart: north korea, let's get to that. the u.s. flies two b-1 bombers over the korean peninsula. this is in response to north korea's recent missile launch. guess who's with us? the author of "the arena: the unauthorized biography of kim jung-il."

his name is michael malice, frequent guest on the program. you think -- okay. so we've got this massive show of force. b-1 bombers are a terrifying instrument of war. it's a demonstration of our attack capabilities. you don't think we'll ever actually attack, do you? >> it depends. do you consider shooting down a missile attack? when the u.n. went after north korea and said you guys have concentration camps and human rights violations, their response was we don't use the term "concentration camp," and, therefore, we don't have. they said we regard human rights in our own way, so when you criticize our government, you're violating human rights. they're not negotiating good faith, so they can call anything an act of war if that's what they so chose. stuart: are we daring them -- we show our strength, the b-1 bombers flying past -- are we daring them to launch another intercontinental ballistic missile? >> well, president trump has

said they better not go through with these launches, and they have. we've been engaged in exercises -- stuart: yeah, but this has heated up now. an icbm is a different ball of wax from five years ago. >> correct. but they look at these exercises every year which are basically dress rehearsals for invading the north and say, look, this is a provocation and all that bluster they typically go through. it's just two guys puffing their chests out and seeing who's going to back down first -- stuart: you don't think anything comes of this? >> i think we are playing chicken, and you have two cars going at each other at a high speed, and it's going to be a question of who blinks first. stuart: who do you think blinks first? >> i have no idea because this is uncharted territory -- >> stuart: you wrote the book. who blinks first? [laughter] >> north korea says we're scared of them, and they're going to, in our words, slap us across the face. and i don't think donald trump is someone who's very fond of being slapped across the faith. stuart: fascinating. michael, thanks for joining us.

>> thank you, stuart. stuart: all right. you don't want to miss this. coming up very soon we have amelia earhart's certificate of landing for her first cross-atlantic flight. we've also got a 1976 johnny bench all-star game bat both on the set with me. why are we doing this? because both items are up for auction, and we'll tell you the expected price. we are a financial program. many comparing president trump's speech in poland to ronald reagan. his son michael responds to that. but first, ah, listen to this. >> just as poland could not be broken, i declare today for the world to hear that the west will never, ever be broken. our values will prevail. our people will thrive. and our civilization will triumph. [applause] >> thanks. horseheadswivellychair.com

it could be the next big thing i should totally get that domain name... get your great idea online too... get your domain today, and get... ...a free trial of gocentral from godaddy >> i'm nicole petallides with your fox business brief. amazon taking on best buy directly. now they will have experts to help you, to help you to set up your home in a smart way. your alexa consultations, product installations. amazon's stock is jumping today, already up 30% this year and has an up arrow on this news. with this you'll have trained employees, gadget experts to help you set up your home.

you can see it on the amazon web site. and, in fact, you can say things such as build my smart home, get the most out of my echo device, i want to control my life with my voice. this will take on directly to best buy, this type of action because best buy today is trading lower on some very heavy volume. in fact, more volume than the average day volume. best buy down about $4. amazon, gains. (baby crying) (slow jazz music) ♪ fly me to the moon ♪ and let me play (bell ringing) (audience cheering)

>> the story of poland is the story of a people who have never lost hope, who have never been broken and who have never, ever forgotten who they are. just as poland could not be broken, i declare today for the world to hear that the west will never, ever be broken. our values will prevail, our people will thrive, and our civilization will triumph. stuart: that was a powerful speech the president delivered in poland last week. many are calling it his reagan moment. our next guest has special insight into that comparison. he's the author of "lessons my father taught me: president reagan's son, mike reagan. mike, good to see you again, sir. >> good to be with you. stuart: is donald trump another ronald reagan? >> well, nobody's ever going to

be another ronald reagan. we were lucky to have my father when we had him back in the 1980s, if you will. but the speech that he gave in poland needed to be given, and it was in many ways reagan-esque. i was in poland back in 2009 on their 20th anniversary of freedom. i was invited by then-president who, unfortunately, died in that horrific plane crash a few months later, to be there as they celebrated their 20th anniversary of freedom. stuart: can you compare the press reaction to your father, ronald reagan's, speech like mr. gorbachev, tear down that wall, that particular speech and the press reaction to it and the press reaction here in america to the poland speech of last week? can you compare and contrast the two? >> well, what's interesting is, is the fact that too many people today in today's media believe history began this morning when they got out of bed. they have no reason to look back

and say why did the polish people really embrace that speech. and if i take you back to a breakfast on that morning of november 9, 2009, sitting with then-president of poland and him looking at me, before he even says good morning to me, through his interpreter says why did your president take away our missile defense system? and i looked at him, and i said, well, i'm not really the person to ask. maybe you need to ask vladimir putin, because i believe he is the one that got america to take that away. and he agreed with me on that. and later on that day at the reception of after all the ceremonies about freedom, the ambassador to poland from czech chased me down at the event and asked me the very same question, why did your president take away our missile defense system. so when this president, president trump, in his speech

talk about giving them back that missile defense system to protect their countries, that's where it became reagan-esque. stuart: i was on vacation last week, but i did watch the speech from poland, and i was appalled to see the western media take it to pieces on the grounds that an american president had stood up and said i support western values. some in the media here thought that was some kind of racist statement. i was appalled at this. i'm sure you were too. >> yeah, it's really interesting, because the rest of the world looks to america because of our western values. stuart right. >> and that's what's so important to the rest of world. and for them to pick it apart like that, that a president's actually standing up for america, and, of course, for eight years, what did they do? for eight years they talked about barack obama going across the year and apologizing for america and blaming america for everything known to mankind.

that's the side of the media. that's why president trump refers to it as fake news. stuart: i saw you fiddling around with your ifb, your little ear thing here. let me tell you, michael, don't ever try to live without voices in your head. [laughter] it's a real problem for us, we kind of get used to us. don't be such a stranger to us. >> i'm here, thank you. stuart: up next, what i would describe as cool items up for auction from amelia earhart's landing certificate the johnny bench's game-used bat, a boston red sox world series player ring. stay there, we'll show them to all of you and the price as well. promise. ♪ ♪ ♪

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the other side of the atlantic? >> exactly. in 1932, she was the second person and first woman to complete a trans-atlantic flight, and they had her sign this certificate. it was witnessed by two witnesses and a legislature person in iceland when she crash landed and made the first -- stuart: i always think of you as a sports memorabilia guy. what are you doing with -- >> we do sports them probill ya, but we also do historic and rock and roll memorabilia as well. stuart: okay. how much? >> we expect this to go for probably around $200,000. stuart: really? >> yes. very historic document. stuart: next case, this bat right here -- can i touch it? >> absolutely. stuart: i'll pick it up, i won't swing it -- [laughter] i'm left-handed. this is johnny bench's bat. >> correct. and what's important about this is if you look at the logos, it's from the 1976 all-star game. of course, the major league baseball all-star game is

tomorrow night, so it had that special logo bat. it's very desirable. we actually only had a $6,000 estimate on this, the current bid is already $6,500, so we obviously expect it to go well beyond that. and all these are currently up for auction at goldenauctions.com. stuart: one more, the world series player ring, whose is it? >> this is when they broke the 86-year-old curse and won the world series in 2004. our estimate on this ring is $25,000. stuart: $25,000? >> correct. stuart: got it. okay. now, you've got a jersey, a ted williams jersey. >> correct. stuart: i know ted williams. >> this is a historic 1959 ted williams game-used jersey. he wore this in his next to last final system. unalteredded, which is very important. we have a $200,000 estimate on this jersey. stuart: but wait a second -- >> yeah. all the yankee fans out there, all the current collectors, this

guy, they believe, is going to be the next mickey mantle. it is aaron judge. this is his game-used jersey from opening day at yankee stadium this year where he hit a home run. for everybody out there, he's broke the 81-year-old record of joe dimaggio for most home runs by a yankee in a season at 30. dimaggio did it in a full 154-game schedule, aaron judge did it in half the season. they expect big things out of this guy. stuart: how much? >> this, my estimate right now would be over $20,000. however, i believe down the road if he pans out, this could be a six-figure jersey. stuart: so it could be an investment in his future performance. >> exactly. if you had derek jeter's first jersey, you'd be looking at over a quarter of a million dollars. stuart: really? >> yes. stuart: if he turns out to be as good as people think he is, that's an investment in a half. >> that's exactly right. it's available right now at goldenauctions.com, up for auction. stuart: okay. the auction is ongoing now

online, goes all the way through to, when is it? >> the first 90 lots end in chicago at a live auction july 27th, and then we have 1,800 more that that go through august 59, and they're all available at goldenauctions.com for bidding. stuart: i've got to put this back in the right place carefully. don't want to smudge that up. ken golden, goldenauctions.com? >> what is it? >> goldenauctions.com. >> that's it. stuart: we'll see you soon. >> thank you so much, stuart. stuart: and there will be more "varney" for you. which one? well, we'll be back. [laughter] pick one, i'll be back.

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stuart: we've been paying very close attention to amazon's stock. getting close to $1000 per share all over again. one big thing going for it today, lizzie, please confirm this is a big deal, amazon prime day starts tonight, 9:00?

liz: adding six hours to it. 30 hours instead of usual 24 hours. a way to get new prime members as well. >> a way for us to promote it. neil: we've been giving them a free commercial all day long. let's see if connell mcshane does the same. >> we'll talk about it a little bit. there are other things as you know going on as well. i'm connell mcshane in for neil cavuto. some senate republicans are openly doubting chances of a health care bill getting through. the leader mitch mcconnell has suggested a limited bill, maybe to fix parts of obamacare. he says that could aback upplan. the white house projecting confidence that the president tweeting out this morning i can not imagine congress would dare leave washington without a