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tv   Varney Company  FOX Business  August 18, 2017 9:00am-12:00pm EDT

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to call me. maria: we have courage on this program. thank you for joining us. dagen has you covered the next two weeks, have good two weeks. dagen: you deserve time off. maria: varney & company. stuart: it was not a lone wolf, it was a terror cell and carried out attack in spain. terrorists try today -- tried to mow down pedestrians, more people killed before attackers were shot to death. 13 civilians have been killed in attacks and over a hundred injured. it's not over. police are going after the terrorists that they believe drove the van in the initial attack. he is still on the run and bigger than we first thought. it was done by an organized
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terror group that had stacked the whole house with bomb-making propane tanks. stock took a dive, dow eventually developed 270 points on the day but terror was only part of the reason for that drop. there were also serious worries over the state of the trump white house in particular the future of key adviser gary cohn and that concerned today. white house advises gary cohn will stay and that's for now. the gary cohn story a negative factor. clearly this friday will be a very big day, we invite you to watch it unfold was. varney & company is about to begin. ♪ ♪ stuart: i mean, i'm pretty
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sure it's in most's people minds after what happened in london and france and the attack that came repetitive, they did the same thing a few times. after it happened, i think everyone kind of thought pretty quickly that it was another attack. purely just because it was so similar to the others. stuart: i call that chilling. an eye-witness account of witness in barcelona. total of 14 are death and search for the van driver in the original barcelona attack, that continues. this is not over, the new york post is reporting that a family says that a california man is missing after that barcelona attack. give me the story there. ashley: jared tucker was on vacation in barcelona, he's from california, he was visiting with his wife heidi, they became separated, all the chaos, the van rammed down the pedestrian on boulevard. he has not been found since.
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the search is going on. the wife is okay. they are now contacting u.s. consulate for information. the massive manhunt for van driver, authorities believe stole his brother's identity to rent two vans, one used in the attack and the other to be used as a get away vehicle. so four people are now been arrested and as you mentioned a beg terror cell perhaps bigger than they have seen before but at least a dozen people. stuart: not a lone wolf. it was organized and they are going at it. this is an ongoing story and we will follow it throughout the show today. elsewhere, i said this before, political turmoil all around. tennessee republican senator bob corker is going right after president trump over his handling of charlottesville. listen to this. >> the president has not yet -- has not yet been able to
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demonstrate the stability nor some of the confidence that he needs to demonstrate in order to be successful. stuart: did you catch that? he did not demonstrate stability, referring to president trump, not the presidency but president trump himself. elsewhere as we reported gary cohn is staying but rumors persist, look at the headlines, gary cohn stays put for now following trump's comments on charlottesville. very important. two words. hanging in the air. as for the futures, we are looking for flat open, ever so slightly higher, nasdaq come in with some gains. market watcher on friday morning, his name is jeff zika, jeff, i think the market soldoff because of the gary cohn story and the disruption in the white house rather than say you. what say you? >> i agree. it's hard to overemphasized the
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importance of gary cohn to this administration, to the initiative of tax cuts and deregulation, if gary cohn does, in fact, resign and obviously this is not confirmed, if he does resign, we could see a tremendous backlash in those two areas. stuart: the white house went the great lengths during our program to say he's saying, it's the washington post that reinterpreted and said, for now. they kept the controversy alive. >> exactly. gary cohn was on your show last week and spoke very clearly on what he we wanted to accomplish when it comes to tax cuts, what investors have to realize, this market has been very, very much built on the rhetoric of the trump administration to get the economy moving forward, to get tax cuts and deregulation, gary cohn is a champion of that. he needs to be in this administration and whatever trump needs to do, he needs to keep him there. stuart: market moves today on any new word from gary cohn, got
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it. let's bring in byron york, is this administration fall ago part? that's the view, you're laughing. i'm picking that up as i read across the media this morning, that's what they're saying, it's fall to go pieces, that's what they're saying. >> look, the president is having a pretty run of it, there's no doubt about it. we do see a lot of outside people trying to shame or troll people like gary cohn into leaving the administration, how can you stay there, how can you work for such -- for such a man, on the other hand, the basic work of putting together policy goes on and i think you should probable question ask senator corker if he would vote for reducing the corporate income tax, for example, i think he would. so, yes, trump has lost republican support but has he lost when it comes to
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priorities, no, i don't think he has. stuart: a federal reserve governor, he's come out and said, if janet yellen is offered another term by president trump, she should refuse it because doesn't want to be associated with trump. that's shaming in the extreme. >> yeah, we are seeing a lot of that, we certainly will see more of that, but and, look, if you're the chairman of the federal reserve, you to think there's a lot of important stuff the federal reserve does. stuart: well said. >> it's not related to what the president says about confederate monuments, so i think that they -- i think that people like cohn and people like yellen are separating the important work that's before them from some of the shaming efforts going on. stuart: the president goes to camp david for the weekend apparently to regroup. do you think he's going to
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regroup the entire white house? are we waiting for something big to come out of the camp david weekend? >> bannon certainly did damage himself with this, oh, i thought it was off the record interview with far-left magazine in which he seemed to undermine the president's policies. bannon has certainly hurt himself there. i don't know if you were looking at any major changes because bannon has certainly been in the dog house before in this short presidency and has worked his way out of it but seems obvious that what the president need to do is actually focus on policy some and the rest of the stuff will eventually quiet down just as on tuesday if he simply talked about infrastructure at the trump tower event. a lot of this wouldn't have happened. stuart: well side, byron, thank you so much for joining us.
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case against former tech worker is expanding, he's been i dieted on four counts including conspiracy. what do we have more on this? ashley: making false statements. this was the individual who was accused of double billing but also have access, let's not be shy about this to very sensitive network of the democratic party on the hill. he was mostly fired by all the democrats he was working for except for debbie wasserman schultz. and she even -- even when she knew there was criminal investigation going on kept this individual on. imran and his family, a whole family from pakistan. he was stopped getting on a plane at dulles airport and facing the charges. the question is what access did he have and it appears he had access to sensitive information. stuart: he had the password for debbie wasserman schultz's laptop. ashley: he had. stuart: he's been indicted on four counts.
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ashley: he has. stuart: where are we going to go? we are going to be down. we turned things around just a little bit. now we are looking at a modest move 20 minutes from now. the gap, however, the retailer, bright spot in retail, raised full year forecast by demand of old navy products, fewer discounts, bertin ventary management, the gap, retailer. now here is an important one, applied materials, they make the machines that make computer chips, they are making a lot of money, that maybe a leading indicater for the -- for the computer industry if you like and the stock is going to be up 3%, good sign. better sales also at another retailer, that would be the discount at ross stores, look at it go at 10% gain for that company. however, i haven't bought a tractor recently and showed up, john deere, tractor maker, weak sales, it's down 6% and that's
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premarket. i've got on outrage story of the day for you, cnn anchor wolf blitzer posted the question, he equates the two. i find that incredible but you will hear it. democrats struggling raise money ahead of mid-term elections, republicans going in with nearly 45 million bucks in the bank, the democrats 7 million, how about that? more on yesterday's deadly terror attack in spain. here is a question for you, is this the era of the new normal, ralph peters is next. you think the taxes are going away, you are delusional. we will be back. our bodies react by overproducing 6 key inflammatory substances that cause our symptoms.
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stuart: where is the price of gold this day after two terror attacks? it's up $14 higher 13,006. it touched $1,300 since the
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first time november the ninth, that was the day after the election of donald trump. here is another sign of a flight to safety. the 10-year treasury, yield is down to 2.19. that means money is pouring into that issue, that bond basically and that's forcing the price up and the yield down. this just coming into us, a presidential tweet, quote, the obstructionists democrats make security for our country very difficult. they use the courts and associated delay at all times, must stop. i think this is a bleak reference to the terror attack in spain and immigration issue as well. 14 now dead and there's been a second incident. ralph peter is next. all right, ralph, the this the new normal from here on out? >> stuart, i hate to call it normal but let's called it the new norm because it is. whenever i hear people saying we can't tolerate this, my response
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is, tell me what you're going to do, even police states like russia and china suffer terrorists attacks. in free societies, we've done a very good job here and to an extent europe with good intelligence stopping many attacks but you will not stop them all. and you just can't get past that. stuart: hold on a second, ralph, i put it to you if this goes on for years, it's going to change our society like it or not, you can see the change in the way our cities look. i see these obstruction things -- ashley: barriers. stuart: i see them going on all over the place. i think it changes our relationship to other americans and if it's the new norm that you call it, it's going to be a new country, a new look and field to our society, right? >> in the end, stuart, i have great faith in the transformative power of the united states of america. stuart: me too.
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>> the american dream. when you look at these problems, you to recognize, we have problems but they're not remotely at the magnitude of europe because here in the united states whatever your background, you can become an american if you sign up for the program. there is hope, there is opportunity. in europe you have uneducated economic migrants, people who are basically there for the state handouts, they don't want to integrate, the locals don't want them to integrate. it's been going on for generation, lost generations in europe which is -- which are producing these terrorists. now, if i may specific specifically about the incident in barcelona and why that is a sign of a new norm, all the attacks, vehicle attacks but also other lone-wolf against tourist sites, barcelona, nice, paris, london, stockholm, christmas market in berlin, why those are targets? obviously hitting tourists hits
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local economy. in barcelona they love to complain flow of tourists, they can hurt the economy, goes beyond the immediate deaths, economic blows but people miss this, you hit tourist areas, crowded tourist areas because there's one way one terrorist with one vehicle or gun or a knife can take out people from many countries, you're hitting a bunch of countries n. barcelona dead and wounded came from as many as 24 countries the spanish press came, italy, france, belgium, germany, denmark, romannia, sweden and ireland and still counting. in a free society, do we stop all traffic? barcelona was warned by the cia, they were warned that the attack was coming and they could not
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stop it because they could not find the guys. stuart: i find it particularly chilling that it was not lone wolf. did you says 2? a dozen people in this. >> yeah, the spanish police, i think, a dozen. they killed five, got four in custody. driver is still on the loose. stuart: it was not penetrated. 12 people in a cell, you know, you would hope that you can get inside it or figure out what it's doing, this occasion they did not. ralph, i'm sorry, i have to leave you, i have news coming up right here. literally, thank you very much, ralph. in 40 minutes, i'm sorry, 40 seconds will absorb a moment of silence and we will absorb that moment of silence as well. that's in about 30 seconds from now and then we are going to open up the stock market and i see that the market is going to be down just a little bit. not much, a few points down, i
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think the gary cohn story still alive. i think the shock of this terror cell in europe is still alive and we are expecting a very tinny lost for the dow when the market opens. right now, we will observthe moment of silence at the nasdaq. [silence]
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[silence] stuart: it is a one-minute moment of silence and that's what we just observed and that is the nasdaq stock market right there pretty close to time square new york city. okay. the futures now suggest, again, it's a small loss for the dow industrials when we open, a very small gain for the nasdaq and now this. we call this, i guess we call this the outrage story of the day and i will buy that. cnn anchor will blitzer wonders on air if the barrister. >> attack was a charlottesville
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copycat. roll tape. there we go. >> there may be different characters, they use the same killing device. a vehicle going a high speed, it should be noted, stuart, that over the last year there's been ten vehicle attacks, eight in europe, one here and one in jerusalem. here is the thing -- stuart: the point is wolf blitzer equates what happened in charlottesville with what happened in barcelona. the only similarity is they were both attacks with the vehicle. there's no other similarity. >> cnn itself has reported on
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those ten vehicle attacks. investigators have not drawn any link between this and investigators, intelligence have known for two years that terrorist use vehicles. there's no known link between the two. stuart: i want to see this. we now have the sound bite, roll it, please. >> there will be questions about copycats, there will be questions if what happened in barcelona was at all, at all a copycat version of what happened in charlottesville, virginia even though they may be different characters and different political ambitions, they use the same killing device, a vehicle going at high speed into a group, a large group of pedestrians. stuart: oh, please, oh, please. ashley, oh, my god. stuart: cheer desperation.
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andy puzder, your reaction. >> i was surprise thaad wolf blitzer did this. he's not a bad guy. they lost, they no longer have the russian collusion story. there's no collusion. the story last week or a week or so ago was that trump was going to create a war with north korea, well, the un passed a resolution unanimously, china is on board. that's not going to happen. this is what they've got left and they don't want it to die but for blitzer to do this, isis is using cars as tool in terror attacks, there were two attacks in 2016, 82 people dead in paris, 12 people dead in berlin, they used in london and paris, that comparison he made was ridiculous. stuart: thank you andy puzder, please stay there, the market opened shortly and we want to bring you back for that. i do know wolf blitzer and i'm
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truly shocked. that's a stretch and a half. elsewhere, the at&t-time warner deal has reached advanced stage we are told. president trump threatened to block that merge. ashley: he certainly did october last year saying i'm concerned how much power is being put into one set of hands as he said with the giant teleco of at&t and time warner and cnn under time warner, we know what mr. trump thinks of cnn. this deal is moving along and at&t hopes the department of justice will issue report at the end of the next month and saying these are the conditions we would like to see fulfill in order for this to go through. it appears according to the journal that mr. trump has yet to put up a road block, we shall see. stuart: maybe one of the stipulations is that they sell off cnn. i don't know that for a fact. >> that's the rumor. stuart: if that were the case i would be interested what price cnn
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attaches to it. where are we? we are actually -- market is coming down a little bit more. please remember we were down 1.2% yesterday, that would be 274 points. we are going to open down a little bit today, stay was, please. that market opens very shortly. we will take you there for the opening bell. it's a big deal. 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. and with heart disease, your risk is even higher. you didn't know that. no. yeah. but, wait, there's good news for adults who have type 2 diabetes
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and get to the heart of what matters.
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. .
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stuart: now it is the day after the big drop and two terror attacks in spain a day after questions bankers on friday manager we're open and open down 25. down 27 down 30, down 27 okay modest lost in the very early going for the dow jones average that puts us by the way on the verge of dropping below 217 that's why we are. howhow about the nasdaq up a fraction and that's exactly what's happened. that is the tiniest of tiny fraction but it is up. the s&p 500, on the downside i believe but not by much. s&p is down .07 so you've got a pretty flat s&p. slightly higher nasdaq and
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average pretty flat ever so slightly lower. however, the price of gold a safe haven newscastment in times of trouble but up 13.04 for gold. that's up $11 you know my -- >> gold incline their hills. okay. i don't mean to make light on friday morning but they are. some big retail -- [laughter] they are. big retail now reporting gap doing well. stocks up. ross stores doing well stocks up 10%. foot locker oh, no going other way down 24.. who's with me on a very important friday morning? ashley webster elizabeth macdonald andy and market watcher jeff. all right jeff would you be buying anything now on this big dip? >> no, and it's not -- it's not a big dip and this market, it has had longest win streak one of two markets in the history that is not had a major correction and as long as it has.
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market is trading on rhetoric. that we're going to get things done in era of tax cuts and deregulation so for me willing to buy we need a dramatic pullback than this. >> a much bigger drop and you have to hear had something positive from the white house or from the administration before you'll get back at by the dip. >> this is the -- this is euphoric market base bed on psychology. psychology of the market has been very good but when the psychology of the market is good, that means that it doesn't tack much to set it off i'll wait until something sets it off and then evaluate. >> andy you're not a supermarket but would you buy on this dip? >> yes, i would and i'll agree with my buddy jeff, just a little bit. i think number one we've had a lot of regulatory reform that means a lot of business particularly small businesses, and you've got an expectation that there won't be an increase in taxes even if there isn't a decrease, and people are hopeful there will be a decrease.
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but at least not an increase and you're not going to see anymore regulation so there is some solid basis for businesses being optimistic and that won't go away any time soon. >> wonderful to get tax reform done but even if we with doapght we've had reason to be optimistic. stuart: i'll rrn to my point that i think the gary cone story is the principle negative on this market at the moment. there was a lot of speculation that he would leave the white house, he's an important there you see him looking incomfortable during the president press conference. white house turned around yesterday and said no he stays. this morning "the washington post" has a headline that says he stays, quote, for now -- and that's very different. so the gary cone story is alive and well you referred to it earlier, jeff. whanch investors have to understand is impair cone is the linchpin for the economic changes that need to be made. we was on your show last week. you were very -- he was very speck, and wanting the tax cuts. he's been very focused.
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if he were to depart and has not confirmed this, but if he were to depart it would be a very, very bad thing for the market. >> is he staying you're on the inside of this. is he staying? >> absolutely staying he wants to get tax reform done and getting debt ceiling increase and not going their. look what "the washington post" said about staying for now you can say that about anybody in the administration they're all staying or now. he's committed he knows president unlike, unlike most of us if he has a problem with something that president said, he can walk in his offings and talk to him about it. gary cohen will be there a long time and get these -- beginning to do everything he can to get the tax code reform to get the debt ceiling increase and move forward on the president's agenda. >> all right with four and a half minutes into the session a friday morning where are we down now 15 points that's it 217 is where we are. now the market took a leg down yesterday. let's remember we're coming back from a 274 point drop yesterday
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down 22 as of right now. jeff, i have lay this one to rest. is there any relationship of our market and our market moves to a terror attack in spain? >> very minimal i think the market will have is an instant decline usually with the terrorist attack. but it usually erase ared unfortunately what we've grown use od to is pretty consistent terror attack and the narcotic has been resilient through all of they will. >> we have news overnight that he was a second terror attack that's it, so ting that story has run its course we're down now 16 points got it 217 where we are. interesting a look at the tenure treasury yield okay don't do much on this. but that is a safe haven investment and money is pouring into united states treasury bills. that's why the yield is going down and the price is up. that's a safe haven investment sign of the times. applied trl very important company because they make the
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machine it is that make microi whichs for computers. that company is making money, i'll say it again i think that is a leading indicator jeff am i right there? >> l they're the primary manufacturer of components. and when you follow the components you can always plol the demand so i think it is positive. smg big deal and stock it up 5%. higher profits attest ladder but the weakest sales at tractor mar a lot of equipment. john deere and company weaker sales oh, dear down $8 that is about 7% down. however, listen to this. [laughter] this is a question -- the speaker diewpght to be green? and fight climate change do you? then do not buy a tesla. morgan stanley says building an electric car creates more co2 emission and more co2 than it saves. jeff. >> you know, as i've made no
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hesitation saying this snobbery that buying tesla because they think they're saving the planet they should look at these and realize that they may be they want to own a tesla because they want to be cool. but teslas are not saving planet when you have a story like this story, you realize that there is still a lot to be done and that -- and that arena -- >> don't be too nasty to the greens. they're half regions quickly talk about delusional. also takes a lot of water to build battery factories but separate from that also the electric utility rely on natural gas to deliver electricity to these cars. so morgan stanley i think has it right. >> give me 20 seconds how you feel andy? >> i think most of the electricity in this country produced by coal. so if you're burning coal to drive your tesla it is, obviously, not healthy. but i mean i -- all of this taken together i would say i like teslas there's nothing wrong with them but i
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don't think you're saving world if you drive one. >> voice of reason. listen to this one. caught my attention. states and cities some of them have started to charge a netflix tax to make up for revenue lost from cord cuts and video rental places who imposes the tax and who pays? >> you pay for it. you viewer, and chicago, pennsylvania, florida, so far are charging like a buck a month for each streaming meaning each netflix or o each hulu 100 each. 600 states look the copycat if they see a tax then there's no tax they don't love so looking at six more states considering incoming alabama, and illinois so these, you know, these are goo i who is tax and spend theirs way into a ditch. and they turn your cable bills into a really as they're attaining gas price going up. >> up on the cable bill. but a dollar for netflix and dollar for hulu a dollar for amazon, video. you pay a buck for -- a month.
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a buck a month. and another buck for hulu you do. that can add up. separate taxes on streaming. >> what's important to realize about this is this is a tax on the millennials. this is a way to tax the millennial income, and also what -- what the state and fed are worried about is all of the old industries not taxed too much. transferred to new industries and hit the millennials. stuart: andy here's your chance to -- what is the word, rent if you wish, on taxings -- [laughter] >> how long is your show again? like the -- this is there's a federal law that says you can't prejudice e-commerce you can't prejudice online firms so if you're taxing them for the way they're delivering their product, you -- the problem is it isn't that you can't have this tax. cities do it and cities like chicago which are in desperate trouble or states like california that are going to need a lot of money are going to
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try to do this but not in a way that prejudices e-commerce so he have a difficult time they're going to get a lot of opposition from net thrix and hulu and amazon who pay sales tax by the way. this is not a problem with not paying sales tax but tax on ability to use e-commerce on online facility and people will revolt at that ideas. >> it will spread look at this. the dow industrial is right at 21,700 down 41 points as we speak right on edge of there rksz 700 immaterial to see gun stocks i believe they did well at the news came there at the barcelona attacks these are gun stock this is morning. they went up yesterday. only ammo headachers that will be -- sorry they're all a fraction lower this morning but the american outdoor, that is up 2%. what do you make of that? >> here's what's happening with the gun stocks any time there's a terror attack the raiders trade the gun stocks as they move up and then unload them.
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i think they've appreciated so much during the obama administration. i think to be buying them long-term now makes no sense and this is just a traders jumping in. >> by the way, american outdoors is the new name for smith & wesson sorry about that. outdoor i believe is the ammunition company i think got that right. it is 9:41 we've been on the air for 11 minutes since market opened. time to say good-bye to jeff and andy thank you so much for working on a friday morning. let's she now have we dropped below 21,700 backed off a bit 21,712. tesla and g.e. can't keep them out of the news. g.e. we've forgotten about but tesla all over the place teamed up to install solar panel on roofs of 50 home depot stores. we'll cover that one for you. wal-mart online present sales surging last quarter here's the question can amazon, wal-mart give amazon a run for its money
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when it comes to same-day delivery. the man who coined the term retail ice age is with us in a moment. years of citi history matter to you? well, because it tells us something powerful about progress: that whether times are good or bad, people and their ideas will continue to move the world forward. as long as they have someone to believe in them. citi financed the transatlantic cable that connected continents. and the panama canal, that made our world a smaller place. we backed the marshall plan that helped europe regain its strength. and pioneered the atm, for cash, anytime. for over two centuries we've supported dreams like these,
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>> down 274 yesterday. down 43 this morning. 21,700 where we are. a down grade for blue apron oh, dear. nicole what's imoipg on snow is this >> you can say oh, dear because downgrade comes from one of the underwriters you have to think about how close they are to this country the latest result and says that company faces chamgs. challenges as they're moving to a new lyndon, new jersey facility. and that had they're having trouble with had efficiency and accuracy duetting everything out
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for those orders so with those new challenges they lour the price target at $6 from $8 put a hold, and you can see that stock at $5 and change that's almost -- just under 50% from ipo price at $10. >> my only comment is ouch. amazon competition don't forget about that. you've got it exactly right nicole thanks. g.e. and testla outfit 50 home depot stores with solar panels they've got big roofs. >> 140,000 square feet is top of the home depot so you know tesla solar city unit putting solar panel on top in four states they're talking new york, new jersey, about california, and connecticut to cut utility local utility usage by a third. home depot making a big push by 2020. >> that is an important story thank you so much liz. from solar to retail man calling express retile is with us.
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i want to know give me three brick-and-mortar reare tailers that you like that you think are resisting amazon challenge. >> home depot costco. fnlings got to rerepeat it you can't get too fast here home depot costco -- tjx. is the company, >> tjx is t.j.maxx and marshall like the boston patriot with bill belichick and tom brady says block noise do your job, do it well every day, every week, every year and that's what ben the brilliant founder of tjx did carol the brilliant merchant and leadser and now ernie doing same thing so just like the boston new england patriots have a three best in business tjx does too. home depot -- bob, and left home depot dying on doorstep with ge agreed coming in taking care of himself. not the team member, not the
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customer hads. the three -- slammer. >> they've got about a quarter of a billion collar for the effort. but they -- they were last with contractors last with women. frank blake with brilliant leader and wife said you're not that great. you're not that important talk to the team members, leaders in stores talk to the customer. and then arthur blank ken, bernie legendary founders brought blake in completely transformed it. now he's saving america's chairman of delta airlines. finally costco, great cofounders jeff broadman and jim raise a standard of living for everybody worldwide which is what wal-mart is in the process of doing too. ivelg home depot tjx and cost you you like them survivors of the division now talk to me about wal-mart they're doing something and they really are going not going after amazon.
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but they're doing well in the arizona competition. >> doing well against amazon, stuart we saw it in -- ireland we saw it in the u.k. they lost the earlier wars against amazon and ocato now wal-mart has a vengeance they've gotten rip of eptism great blowing pigeons and pier in south dakota didn't do a god job leading company for year. >> two people slammed and welcomed guy. >> but he's a lawyer. he's not a retail leader he doesn't understand that detail and -- >> wal-mart is -- that day of delivery. onis line and they get it to you the same day. >> dynamic ceo hand picked by mr. sam one of the poorest places in america he knows the
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middle class is going to crush, you know working people are getting crushed saving them with lowest prices online worst nightmare worldwide for amazon and he's saving them with lowest price ares on land worse nightmare for everybody in brick-and-mortar based retail. >> stuart: i don't know whether you buy stocks or not or allowed to or not but u would you buy if you could wal-mart at $79. >> it's a fast foot rated number one for accuracy in financial crisis '07-'09 reduced for -- >> at the commercial. but you would buy it at 79. >> i would only be buying gold and i would be buying wal-mart and little else at this time other than amazon. >> where was wal-mart going? materials of the stock price? >> wal-mart should be back above 100 within the next three to four years. and as liz and ashley presently pointed out before hand a great
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dividend too so saving people money making people money power to prosper. stuart: let me sum up you bashed and beaten up a walton -- [laughter] wal-mart you've given yourself a whopping great big commercial. and now you're telling us that wal-mart goes to $100 a share. is that it? >> yes, sir. >> what a day. have a weekend. all right, bert thank you very much. >> thank you stuart . stuart: big board right at 21,700 we dropped below it briefly came back 21,708 bashing president trump saying fiber of our country is literally hanging in the abyss or on -- in the abyss more varney after this. ents. switch to flonase allergy relief. flonase outperforms the #1 non-drowsy allergy pill. when we breathe in allergens, our bodies react by overproducing
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>> what's this, at a time like this money trouble for the democrats, tell me about it. it's remarkable fund racing you would think in this environment that democrats could go out to any donor say give us your money. not so as of june 30th, the democratic party had seven million dollars in its, the republicans 45 million, in fact, for the first six months this have year republican are are
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boarding 75 million, 38 million for the democrats. why? well, some of the thing being blamed the democratses have no unified message. they're in a reare building mode lack of leadership. lack of stock aparticipantly a lot of people left and bedak l of the 2016 election and donor thelses always money up for democrats are getting a little weary i wouldn't expect that. now we have starbucks the chair howard schultz having go at the pros here it is model fiber, values and what we as a country have stood for is literally hanging on the abyss more on this. >> spoken in seattle he said i'm an american jew a parent and grandparent it is hard to remain optimistic about country's future he's saying we're in a crucial moment in american history. my fear is that behavior in charlottesville is being given permission and licensed it in normalized so he's taking shots at the president. stuart: pileon time. i think we said this yesterday
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it is pileon time everybody is coming out of the wood work and criticizing president trump. having a go at him and he's now retreating to camp david over the weekend. apparently to regroup see how what goes. >> maybe that's a good idea. >> i have to say it again momentarily president trump is not a politician. but he needs politicians to get his agenda through congress. i've got an editorial about that. couple of minutes away. ♪ stay with me, mr. parker. when a critical patient is far from the hospital, the hospital must come to the patient. stay with me, mr. parker. the at&t network is helping first responders connect with medical teams in near real time... stay with me, mr. parker. ...saving time when it matters most.
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stuart: president trump is not a politician. during the campaign, that was a plus, it helped him get elected. he was a businessman who got things done. now he needs politicians to pass his growth agenda and needs
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political skill to sell it. he has not become a politician. he has not changed. he will spend the weekend at camp caved. that is the presidential rural retreat. peace and quiet. we're told he will use the time to regroup. good. he needs to regroup, because there are signs this presidency is unraveling. particularly striking, was the statement from senator bob corker. he said the president lacks the stability and competence to be successful. he is questioning the stability of the president, not the presidency, but the president himself. the same thing has been said by the left but now it is coming from a republican senator. the writing is on the wall, rightly or wrongly, key constituents are peeling off, walking away from the trump administration. that is why the stock market looks shaky. the president's standing throws his entire growth program into doubt. trump supporters long claimed that the president negotiating skills would carry him through.
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hard ball negotiation would get things done. hasn't worked out that way. angry statements, off the wall tweets have not brought people to the negotiating table. they turn them away. he has very few dennedders and a multitude of critics. off to camp david for fresh country air. senator corker did nor than question the stability of the president. he said, quote, we're at the point where there needs to be radical changes take place at the white house. it has to happen. that is a republican senator saying it. the president is on his way to camp david. we'll see soon if he is listening. the seg hour of "varney & company" is about to begin. ♪ stuart: dow industrials down 70 points. we got numbers on consumer sentiment. important indicator. liz? liz: much higher than anybody on
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wall street expected. 97.6. they expected 94 for the read. this is sticking at 12-year highs. consumer are still worried about the personal finances. main street pretty optimistic here. stuart: good news, certainly about the economy and expectations going forward. i noticed ever such a slight pullback. we were down 70, 75. we're down 58. coming back a little bit. maybe the consumers numbers have done that. how about the price of gold this morning. it is a safe haven investment. it is going up, when you get two terror attacks overnight in spain, i should say a second one after the barcelona attack. gold up 1300 bucks an ounce. november 9th, day after the election. gap is up 1%, just 27 cents. but that is 1%. they will take that. look at stock price of john deere. down 8%.
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make tractors, all kinds of equipment. weak sales. down goes the stock. how about big five technology companies all in the red this morning. not substantially so but all on the downside. the terror attacks, the tear tore attack -- terror attack in barcelona and one overnight. cnn's wolf bitter tried to compare the attack in spain to what happened in charlottesville over the weekend. roll tape. >> there will be questions about copycat, what happened in barcelona, was at all, at all a copycat version of what happened in charlottesville, virginia, even though they may be different characters, different political ambitions. they used the same killing device, a vehicle going at high speed into a group, a large group of pedestrians. stuart: i think that is outrageous, to attempt to link president trump to the terror in spain is an outrage. i know wolf bitter is -- wolf
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blitzer a good man but he shouldn't do that i've been pretty hard on wolf blitzer. >> not just wolf blitzer, the moment is happened others at cnn as well. what they want to refer, that trump is responsible for charlottesville he is a responsible for the terror attack in barcelona. this should worry everyone consumer of news who wants information. there is such an obsession, pathological fixation, that every single thing they see over there in the news, they will term through the lens of hating trump. stuart: that's true. >> now here we also have a ends are. the lens is the economy and business. there is a address, you address politics and other things, you recognize, look at impact on business and money and all of that. their lens is hate for the president. that means that it is going to color and affect, not just the way you cover something, but the way the individually view it and see it is tainted. to your point also, the about
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the president and nature of what is occurring here. the president reagan had partners in running the country. he had tip o'neill as example in congress. had a team in the white house to trust and supported him. he was always under siege as well. the president's best hand is foreign policy, like with barcelona. he has a strong team with foreign policy he has generals and nikki haley. he has to set that up in the white house for domestic issues, certainly with -- stuart: we hope he would. really. we hope he would. >> that is issue. media trying to set the table for reality. the president has to realize it is his team. ashley: as an aside, at&t and time warner looking at big merger, someone at wolf blitzer at cnn owned time warner, says something like that, and get the president's goat. roadblocks to be coming. stuart: good point. liz: cnn is intellectual
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dishonest here they know there have been vehicle terror attacks for two years. cnn reported on terror vehicle attacks. there have been 10 so far past year or so in europe. >> not like a mistake or meant well. this is deliberate attempt to associate the president with this. they know what they're doing. that makes it even more appalling. stuart: okay. show me the big board please. market has come back a bit. we were down over 70. we dropped below 21,700. we have good news on consumer sentiment at 12-year high. we're down 52 points, right at 21,700. we were down and down big yesterday. back to my take, editorial at top of the hour, jordan fabian with us, white house correspondent for the hill. there is perception that the white house is in turmoil, some go further than that to suggest this presidency is spiraling out of control. strong stuff. very strong words.
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what is your take on it? >> well, stuart, there is something to it. look, the president brought in his new chief of staff, john kelly to right the ship at white house. in some respects he succeeded, but the one main area he hasn't succeeded is reining in president trump's behavior. we see the president tweeting as much as ever. stirring the pot with this debate over confederate statues and violence in charlottesville. taking potshots at republicans in congress that he is going to need to pass his agenda. it doesn't seem like new chief of staff or process has done anything to rein that in. until that is fixed we'll have a problem. stuart: jordan, i will roll that sound bite again from, from senator bob corker in which he questions the stability of the president. roll tape. >> the president has not yet, has not yet been able to demonstrate the stability, nor
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some of the competence that need to demonstrate in order to be successful. stuart: very simply he is questioned the stability and the competence of the president of the united states of america. in that background, do you see the growth agenda going forward? >> it is remarkable to hear that from someone like bob corker, stuart, someone considered for vice president or cabinet post in the trump administration, not a never trump per. it reports to the fact that republicans on capitol hill worry the agenda false victim to the chaos. they need the president to advance issues like taxes and infrastructure. as long as focused on feuds and fights it is not going to happen. stuart: i need your judgment. because we always, he ought to do, he should do that, he must do that. okay, will he do that? will he get a grip and focus on the issues of tax cuts and obamacare reform?
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>> you know, stuart, i have a tough time predicting that is going to happen. we've seen, we have seven months now of evidence of what president trump does. he tends to get distracked by these fights. i have a hard time he predicting he will stay laser focused on issue pushing it all the way through in congress. stuart: thanks for joining us this morning. difficult day, difficult subjects but we're here to cover them. appreciate it. it is a corporate story for you. if you want to invest in a company that is fighting climate change, do not look at tesla. why not? >> interesting, morgan stanley. tried to look at perhaps a portfolio, that impacts stocks that you know, are positive towards the climate and the, of planet earth. you would think tesla up there, being leader in electric cars, one of the leaders. turns out and morgan stanley looked at it, production facility for tesla, and
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pollution therein, greater than the emissions saved when you drive a tesla. you may feel good about saving environment as you go around in your silent vehicle. turns out, that the effort to make that car in the first place creates a lot of pollution. stuart: that will not put people off. ashley: of course it won't. stuart: that will not put people off. ashley: if you think you're saving the planet. liz: utilities rely on coal to power cars. water to build battery plant. stuart: netflix, whoa, your networks to bill -- here is the story. some jurisdictions states and cities, are going to put a tax on your cable bill because some people are cord cutting going to netflix instead. i think i have got that right. liz: you have. here is states and cities, penciled in cable tv taxes. now that they're not coming in. whoa, we spent the money, where will we get it from? they hit streaming devices. a buck a piece for netflix,
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hulu, amazon a month. we're seeing in florida and chicago and pennsylvania. six other states. you know how they copycat. half dozen other states are considering it. stuart: it will be universal,. >> it will make more people cut the cord. stuart: yes. >> people will flee even more. it is classic what government does. stuart: like taxing miles you drive. >> yes. stuart: because we are, because -- liz: using electric vehicles. stuart: using electric vehicles so we're not pay aghast tax. -- a gas tax. liz: we have a black hole. we got to fill it. stuart: this is a friday feel. the dow come back a little bit. we were down 70. now we're down a mere 50. holding there at 21,700. yes, another terror attack in europe. a guess who says we're fighting insurgency. a build-up of jihadi radicals all over europe.
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we'll be back. russ, leland, gary: yes. gary: i have a ford f-150. michael: i've always been a ford guy. potsch: then i have a real treat for you today. michael: awesome. potsch: i'm going to show you a next generation pickup. michael: let's do this. potsch: this new truck now has a cornerstep built right into the bumper. gary: super cool. potsch: the bed is made of high-strength steel, which is less susceptible to punctures than aluminum. jim: aluminum is great for a lot of things, but maybe not the bed of a truck. potsch: and best of all, this new truck is actually- gary: (all laughing) oh my... potsch: the current chevy silverado. gary: i'm speechless. gary: this puts my ford truck to shame. james: i'll tell you, i might be a chevy guy now. (laughing)
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stuart: this is breaking as we speak. secretary of state rex tillerson confirming that one american was killed in the barcelona terror attack. let me update the whole terror story, if you're just joining us the news is there was a second attack in a small town on the seaside, about 60 miles from barcelona. jihadis drove through pedestrians on the sidewalk. injured six and a policeman. they were attacked by the police and the police shot five of them dead. this is not over. police are still searching for the man they believe was the driver of the original van that attacked those pedestrians in barcelona. more on this, it was a cell, it wasn't a lone wolf attack by any means. 12 people in cell, five dead, four arrested, the rest are on
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the run. it was a terror cell. it was well-organized. it was not a lone wolf. to the big board we're coming back, down 30 odd points. it is even split just about, red and green. winners and losers on the left-hand side. back to terror attack. we should think of this as insurgency, not isolated terror attacks. insurgency, organized. ryan mauro with us. national security analyst with the clarion project. define insurgency, please. that is group living within us, living among us, armed, organizeds out to get us. is that it? >> key word is organized. meaning there is actual factory, for lack of a better word for this problem. there is a infrastructure that needs to be dismantled. how we look fighting this, back to world war ii, if we declared war on the calm can causeys, how do we tackle calm-- kamikazes,
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no, we attack japan. foreign governments are spending tens of billions of dollars to build that infrastructure in europe, specifically in spain. stuart: you believe the insurgency exists in the united states? that is what the clarion project is all about. if you identified, know it is there, what will we do it. not you, what are the authorities doing about it? >> systems and how you dismantle networks, idealogical factories. how do you cut off foreign financing of non-profit organizations, including houses of worship getting money to promote wahhabism from saudi arabia. muslim brotherhood from qatar and turkey. stuart: you can't, can you? >> you can if you change how we go about it. most people would agree you wouldn't want non-profits getting money from state sponsors of extremism. we have the list of state sponsors of terrorism. we don't have list of state
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sponsors of extremism. put foreign governments on the list, non-profits can not get promoters of extremism, that is what is the money going to do. stuart: that is step one. what about surveillance of insure again i you claim is active in america? >> that would be additional step. that is good for intelligence gathering, basically connected to radical movement or expressing support for radical movement as opposed to illegal activity, there can be surveillance. stuart: surely we're doing that? >> you would be surprised. i do a lot of training of law enforcement, particularly on the local level. there are many times where i have gotten from google searches information about a radical imam somewhere or one of these radical islamic compound somewhere, educate police in the area. they didn't even know it was there. so there is a massive intelligence sharing problem was going on, i heard time and time again. people say not evidence of criminal activity. so we can't launch an investigation. if we're at an investigation stage, we can't justify further resources or trying to arrest someone for this.
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even though you can make the argument a lot of this is sedition which sill legal. stuart: you need a lot more money, a lot more resources to carry out the surveillance that you're talking about? a lot more. >> especially competing with money from overseas. you need to cut off the money. for example in spain, in 2011, there was an intelligence report from spanish intelligence that leaked to a european paper, that said that in spain alone, they had 100 mosques with radical imams. and their words, parallel societies were forming of a radical nature. stuart: that is scary. that's really something to hear. ryan, thanks for joining us as usual. sure you will be back soon. >> appreciate it, stuart. stuart: later this hour, the man who waterboarded khalid sheikh mohammed, who was behind 9/11. he said islamists will exploit freedoms which we love in america.
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tripadvisor. the latest reviews. the lowest prices. stuart: moments ago, secretary of state rex tillerson confirming that one american killed in the original barcelona terror attack. hold on a second. more breaking news. this is coming from finland. police shooting there. what is with this? ashley: police in finland shot a man in the leg after suspected of stabbing several people. this is in the western city of turku. reports say maybe as many as six people are injured. one man, five women. attacked by a man we're told with large knife. security is reinforced on changes in finland and the main airport in helsinki. we have no idea what it is related to, in the current climate you have to kind of wonder. stuart: you report it.
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ashley: you report it, see where it goes. stuart: we would not go on the air with a stabbing in finland but after the barcelona attacks we do. thank you, ashley. ashley: sure. stuart: at&t pending merger with time warner may soon be finalized we hear. the government review of the deal is what is called an advanced stage. ash, i seem to remember president trump, candidate trump, he doesn't like this merger. ashley: he said no one putting that much power for influence in one person's hand you have to have questions about that. it was believed he wouldn't a fan of this. reports suggest this potential $84 billion merger, at&t and time warner is in the final stages. up to the department of justice looking at all angles, hears arguments from all sides, issues a report next monthliesing out what is it may believe conditions going forward. maybe spinning off cnn. by the way wolf blitzer's comments comparing
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charlottesville and barcelona attack will not go down well with president trump. stuart: right. ashley: cnn of course part of time warner, he could throw up some roadblocks in potential merger. stuart: we should remember time warner owns cnn. ashley: right. stuart: a lot of people don't know that. ashley: they do now. stuart: they do now. alibaba, we call them china's amazon. guess what? they want to expand into bricks and mortar, okay. emac, sound like they're copying amazon. liz: sounds like they're going old school, going back to bricks and mortar, jack ma saying, even though we're big in the virtual world we still need to stay in the physical world. chinese people love to go out shopping. their shopping malls a million square feet. talk about china, try find car one of those. if i were there you would have my face on a milk carton in a hot minute. i would get lost. people like to go to the stores. pick up device, feel them, try on clothes.
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they ain't leaving bricks and mortar. you're laughing. stuart: i will tell our day, every day elizabeth macdonald prepare as zingers and there very, very good. liz: i didn't ad-lib that one. that was very nice of you. stuart: wonderful of me. alibaba 166, awfully close to the all-time high. check out the big board. we drop below 21 seven briefly, came up again. encouraging consumer confidence news at top of the hour. that stablized the market. but the big negative on wall street is still worries over the president's growth agenda. can he get it through, when everybody is moving away from him. going to camp david for the weekend. we will be back. nah. not gonna happen.
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stuart: market fairly stable. down 2100. big tech names, now a mixed bag. apple is up. facebook is up. alphabet, microsoft down a fraction. that is the status there. foot locker. huge downside move in the stock. down 24%. weak sales. that will do it every time. isis claimed responsibility for the terror attack in barcelona. our next guest says, these terrorists will continue to use our freedoms against us. james is with us, author of "enhanced interrogation." he water boarded ksm, the man behind 9/11. james, i believe khalid sheikh mohammed told you directly, he and his terrorists would use our freedoms against us. is that accurate?
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>> that is accurate. he predicted in 2004, 2005, during our conversations we would see the up tick we're seeing in small group attacks, lone wolf attacks, using low-tech technology to do that. you know what he said was, that, our system liberties, things like our freedom of speech, our freedom of movement, and our freedom of religion were up weapons that allah had placed in us, flaws and weaknesses, that he had placed in us so they could be exploited. our freedom of movement, our freedom of, desire to be tolerant, would allow people who with radical ideas to move into our communities. our freedom of speech would allow them to spread their extremist hate, ideas, without being confronted. and our freedom of religion would allow them to cloak themselves, like some sort of a cloaking device, so they could claim that would either being racist or anti-muslim if you
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tried to surveil them to see if they were extreme its in them. stuart: how about your opinion? is there any freedom which we do enjoy which you would consider we should maybe rein in or limit that freedom to more effectively go after the terrorists, no? >> no. i think our biggest problem is that we're trying to fight this at the wrong end of the pipeline. that's the problem. i will try to explain what i'm talking about. it is like imagine a bathtub that is overflowing. you're trying to fix the problem by splashing the water back into the tub, instead of turning off the smith got. it is true -- spigot. there are people we have to hunt down, capture, kill, surveil, that is the wrong end of the pipeline. the ultimate way to fix this, which is a 20-year problem. we have to intercede with young people. we have to teach them western values. their parents have to teach them western values, schools, churches.
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stuart: which young people, young people in the middle east or young people into america? >> young people invite into our countries. we can't set up hotbeds, no-go zones where these young people are exposed to awahhabi ideas and salafist ideas and they're taught, even by the culture they're living in that western culture is disgusting and trying to hold them down. it is evil thing in the world. when they go up to be 17, 18, 19, 20 years old expect them to do anything some way to rebel and the culture they want to live in. stuart: should we stop flow of money to the wahhabis, saudi arabians? >> absolutely. >> just stop it? >> absolutely i think you could do that. we should do that they responded, i'm a little on the spot because i didn't look at this particular statistic, i think saudis responded attacks in germany, offering to build
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200 more wahhabi mosques. that is crazy. you shouldn't accept that sort of thing. stuart: you have a relationship, i want to go back to the beginning here for just a second. you had a relationship with khalid sheikh mohammed. you waterboarded him a couple hundred times i think? >> come on. stuart: i don't know the number. what is it? >> that is okay. it wasn't a couple hundred times. stuart: how many was it? >> well, he was waterboarded for two weeks. there were 183 individual applications of the water but most of those applications lasted less than eight seconds. so you know. stuart: you did have a relationship with him you sat down and discussed these things at length? >> yeah. very much at length. you know, we were trying to understand, like in my book i try to explain, we were trying to understand how they think, so that we could do a better job of predicting what they were likely to do later, how they were likely to respond to things.
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and, that little -- he thinks, he looks at our normal life for weapons that can be deployed against us. he told me that like-minded screen hadis will emigrate into our country, wrap themselves in our system liberties for their protection, feed themselves off the social welfare system while they spread the jihadi message. when it was on a time they chose, rise up and strike from within, using low-tech weapons. stuart: what did you just call him, a humonclues. >> humoncleus. stuart: i forgot my latin. wish we could discuss that a little bit longer. james mitchell. >> thank you, sir. stuart: something completely different now. our next guest one of the biggest names in college football. former notre dame coach lou holtz joins us now. welcome to the program. i want to talk of politics.
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you were original and strong supporter of president trump. a lot of his supporters are walking away from him right now. are you still with him gung-ho full time? >> i'm not walking away from the president regardless. the media has been on him all over. first is was russia, russia. now the fact he is a bigot. president trump was born at night but he wasn't born at last night. never in one time during his entire career anybody accused him of being a racist. i do have great concerns about this country for the first time, i have great concerns. we all had the same objective before. that is to give the people a chance to be successful. we had a difference of opinion. democrats had philosophy we ought to do this, republicans had a philosophy we ought to do that now everybody has their own objective but getting absolutely nothing done. the media wants to get rid of them. i got news from president trump, i dealt with the media. don't get in an argument with somebody that buys ink by the
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barrel or you will lose argument. be successful. win enough games that determines popularity. but right now we have the democrat want to be obstructionists, republicans i'm not sure what they want to do. we're not getting nothing done. what about tax reform? what about your health care? what about infrastructure? we should all come together. difference of opinion but we have the same objective. right now nobody has an objective. that is why president trump was elected because i say he had a vision where this country should go. nobody has that vision. that concerns me. stuart: i will move up off the subject of politics. you're getting wound up. i want to talk to football. i'll sorry you have to talk with a guy with a british accent about football. this is something i know about. football ratings, television ratings are down. i think because there is so much football on television. what say you? >> i think it is two things. i think number one there is too many football games on tv.
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here is what happened. people are going to maybe watch a big game, et cetera, but all of sudden you get saturated. nfl ratings are down. i was with people yesterday, we were talking about the the national anthem and people boycotting that, athletes sitting down, that is turning awful lot of people off. i say this to mr. good gel, solve the problem? have the national anthem before the players come out like they do in college. college players stay in the locker room until the last second. pros come out early. creating a awful lot of problems. i think concussions is also concerned. get rid of concussions also. take face mask off the hello meet. people stop using their faces as a weapon. everybody thinks they are better looking than they are. stuart: plenty of ideas. that is good one. good line. lou, hold on a second. i have to tell our audience about a new stadium for the atlanta falcons. it will have a chik-fil-a
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restaurant inside it, but closed during most of the games. what is that emac? liz: sunday policy is to close on sundays a day of rest and worship. they have eight home games, actually eight games, seven of them are home games on a sunday. so they have got seven games on a sunday where the chik-fil-a will be closed in that stadium. stuart: wait a second. wouldn't chik-fil-a to get those spots in that stadium? liz: flipped banner for another vend do to go into the same spot. they pay for it. stuart: but they can't use it. liz: not going to lose it. stuart: lou holtz, still with us, chik-fil-a not opening on sunday, losing business? what do you say? >> when your story is closed sales drop drastically. understand why they're closed on sunday. they're closed on sunday because they don't want their employees to work on sunday. people eat on sunday. they understand that. but they feel that just their belief. i would have to say this they have been rather successful.
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yeah a lot of people boycott them, but this is their belief. i applaud them for having belief they do. i'm not saying i agree or disagree. this is their belief. i applaud them. stuart: in new york city, the mayor asked for a boycott of chik-fil-a when they opened here. that was met with a line around the block. lou holtz, knew you would like that. lou holtz, you're all right. thanks for joining us. we appreciate it. thank you. >> thank you for having me. ashley: what a character. stuart: good man. ashley: yeah. stuart: ben carson, secretary of housing and urban development, got it, he says his house was hit by anti-trump vandals. find out what those vandals did and how he handled it. good story next
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ashley: dow lost 20 points yesterday, down again today. is it a buying opportunity? last hour we posed that question to andy puzder, former ceo of ck restaurants and here is his response. roll tape. >> yes i would. i will disagree with my buddy jeff just a little bit. i think number one we've had a lot of regulatory reform. that means a lot to businesses, particularly small businesses, and you have got an expectation that there won't be increase in taxes even if there isn't a decrease. people are hopeful there will an decrease. at least not an increase. you will not see anymore regulation. there is solid basis for
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businesses being optimistic any time soon. wonderful to get tax reform done but even if we don't we have reason to be optimistic. ♪ we're on to you, diabetes. time's up, insufficient prenatal care. and administrative paperwork... your days of drowning people are numbered. same goes for you, budget overruns. and rising costs, wipe that smile off your face. we're coming for you, too. for those who won't rest until the world is healthier, neither will we. optum. how well gets done.
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stuart: this is important company, and the news is good. applied materials makes machines making computer chips. that is good indicator of computer land in the future.
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stock is up. higher sales at discounter, would be retailer ross stores. better sales, how about that? 9% higher. ben carson says his home in virginia was vandalized. graffiti. tell me what happened. liz: toilet paper and somebody wrote f-trump on it. happened when he was out of town. he saying my message here is a story of kindness at a time of hatred. neighbors came in and cleaned it up, when i was out of town with his wife. cleaned off f-trump and removed the toilet paper. so he is saying at a time of disunity, this is message of neighborly kindness. stuart: one more story on here. his home in maryland i think it was, neighbor ran up con up cone flag. he said take it down. and they did. liz: other neighbors put up american flag with solidarity of ben carson.
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stuart: ben carson became friendly with the person who ran up the american flag. he became friends. great story. ashley: great story. stuart: that is america. love that kind of thing. many republicans are really walking away from the president, president trump. republicans are doing this. i don't think this is good, certainly not for the president's tax-cutting agenda. roger williams with us, congressman williams. republican from texas. congressman i know you are going to say we must get tax done, we ought to get tax cut done, we have to get tax cuts done, but honestly doesn't look like we will do it, does isn't. >> i don't know if i say that stuart. we need to get back an start a dialogue. mainstream america, i'm a main street business guy is in dire ready to have these cuts. we need our, our economy going pretty good by fact we're talking about it. think what it would do if we actually did something. i'm hoping that we can't get it done.
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i'm pushing for it. stuart: i'm looking at senator bob corker who is questioning the stability of president trump. he is questioning the competence of president trump. we have other senators, just literally walking away from the man. they won't have anything to do with him. you can't get tax cuts done if many members of the united states senate are walking away from this president and there is disruption within the white house? >> well, i agree with you. we don't need the disruption. we all ran on a platform of cutting taxes and health care and i will my graduation so forth. we need to get our agenda done. we represent people. our people want us to get something done. attacking the president from within is not the answer. we need to settle down. we need to calm down. >> are you prepared to abandon a principle, for example, to for the sake of compromise, will you give so that we can get something done? will you? >> well i have some strong, i have a, i will compromise sometime, i'm a business person.
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i'm used to compromising. i won't give up my core but we begin to talk making deals in america again and let's throw something on the table. let's discuss it, let's have dialogue. let's not attack our president who was elected by the people. stuart: give me the odds here. be a bookie for a second. what are the odds you get a tax cut of some sort this year? >> i think it is probably 50/50 out of the house. we'll see what the senate does. stuart: give me odds on the senate? >> well, right now odds on the senate wouldn't be too good. i hope a lot of them would quit trying to run for president. get back to legislating. maybe we get 50/50 in the senate. if we put something on the president's desk, he will sign it. american people deserve it. a lot of my colleagues are ready to begin the dialogue. i'm anxious to get back doing it. stuart: congressman, thanks for joining us. this is very, very difficult
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subject. we all want the growth agenda. we know we ought to have the growth agenda. whether or not we actually get it that is open question. last word to you, sir. >> we need to do it. we need to begin to talk about tax reform. begin talking about health care again. tax reform will turn this economy up a notch we haven't seen in a while. 4% growth. empower mainstream america, we get a lot of things done, cutting taxes creating cash. stuart: we live in hope, congressman. thanks for joining us this morning. we appreciate it, sir. >> thank you. stuart: how about this one? the federal government allowing outside groups to conduct mental evaluations of immigrants who are looking for asylum in america. ashley: these are legal immigrants held by i.c.e., immigrations customs enforcement, either for asylum hearings or deportation. activists group say you're denying access to legal assistance and mental evaluation. it went to court.
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i.c.e. agreed to allow telephone valuations of mental state of women and children here illegally. so in other words, do they have a case? part of that in order to win asylum here, part of that enabling them to be evaluated. they will be able to do it by phone. more legal assistance will be allowed by i.c.e. stuart: delaying tactic. ashley: of course. stuart: may be a basic right. i do understand these things. i understand. we don't want to trample on anybody. ashley: of course. stuart: but it is delaying tactic. everybody wants evaluation. everybody is extremely anxious, therefore i stay. you know. not quite right. top of the hour, coming up my editorial on defeating terrorism. yes, we can win, but it will change our society. it will take a long, long time. my take coming up top of the hour. don't let dust and allergens get between you and life's beautiful moments. switch to flonase allergy relief. flonase outperforms the #1 non-drowsy allergy pill. when we breathe in allergens, our bodies react by overproducing
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stuart: if this goes on for years with sporadic attacks, it will change our society, like it or not. you can see the change in the way our cities look. i see these big, what do you call them, these obstruction things. ashley: barriers. stuart: i see them going up all over the place. i think it changes our relationship to other americans. i think it changes the debate on immigration. if it is the new norm as you call it, it is going to be a new
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country, a new look and feel to our society, right? >> well, in the end, stuart, i have great faith in the transformative power of the united states of america. stuart: me too. >> and the american dream. stuart: me too. >> so when you look at these problems, recognize, we have problems but they're not remotely at the magnitude of europe because here in the united states, whatever your background you can become an american if you sign up for the program. there is hope, there is opportunity. in europe you've got uneducated economic migrants, people basically there for the state handouts. they don't want to integrate. locals don't want them to integrate. it has been going on for generations. there are lost generations in europe which are producing these terrorists. if i may speak specifically about the incident in barcelona, why that is a sign of a new norm, all the attacks, vehicle attacks, also lone wolf and small group attacks in europe against tourist sites, barcelona, nice, paris, london
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obviously stockholm, christmas market in berlin. why are those targets? obviously hitting tourists hurt the local economy. in barcelona they love to complain about flood of tourists, it is overwhelming. one person in five in that region, high unemployment, one person in five employed in the tourist industry. so they can hurt the economy. goes beyond immediate deaths, economic blows. people miss this, hit tourist areas, crowded tourist areas, one way, one terrorist with a vehicle or gun or knife can take out people from many countries. or hitting a bunch of countries. ♪
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stuart: how many times in the last 24 hours have you heard the
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question how can we stop the terror? here's my answer, you can't. certainly not in the short term. this is not defeatism, no, it is reality. you can't stop people driving down the street. you can't protect all sidewalks in all cities. and there are limits to targeting suspect groups. we are a constitutional republic, a nation of laws. yes, we'll beat it eventually, but as we face it down, terror will change our society. our cities will look and feel different. already the barriers are going up, especially in areas where pedestrians congregate. just a few years ago you could drive right past the white house. the truck bomb threat stopped that. walking down the street, we'll be aware of danger. some will think twice before joining a crowd. our attitude towards immigration will change. well, it's changing already. which politician will now openly embrace open borders? right after the bars loan that
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attack, the state department issued a warning, open borders makes spain vulnerable. keeping track of suspects, that's going to cost a whole lot of money. there will be demands for more surveillance. now, watching someone 24/7, that takes at least 20 professionals. and, yes, there are likely to be endless lawsuits about profiling and privacy. in europe bitter division. in many places the muslim minority lives apart and feels under siege. emotions are running hot. the authorities are trying to keep a lid on it. sacrificing some freedoms in the interest of community calm. the tension there is palpable. we have to hope that it doesn't come here, but in a protracted terror campaign, it might. as of now, we live in a time of intense, angry politics. many people ignore it, choosing to walk away from the sheer nastiness of the news, but it
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will be hard to ignore the age of terror. we're in it, we feel it and we see it. it's not going away. the third hour of "varney & company"'s about to begin. ♪ ♪ stuart: there you have it, ladies and gentlemen, we've dropped below 21,7. we're at 21,689, a lot of 61 points -- a loss of 61 points as we speak. the latest from spain, secretary of state tillerson confirms one american was kill in the barcelona attack, a total of 14 killed both in the barcelona attack and the later one that came last night. here's something that's just adopting. a stab -- developing. a stabbing attack in finland. >> initial reports saying one man had been shot in the leg after stabbing several people in a marketplace in finland. now we understand they could be looking for more potential suspects.
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local media saying six people are believed to have been stabbed, one man, five women. one of the women was with a stroller and was attacked with a large knife. we have no idea yet of what may be behind this but, of course, with the van attack in the barcelona yesterday, any event like this is given a lot of anticipation. stuart: of course. >> we'll keep on this. stuart: lenore hawkins is with us. lenore, you spent a lot of time in europe. that's half your business, i think. i want you to tell us how close is europe -- and this is a serious question now, you may or may not be able to answer it -- how close is europe to civil strife? communities going at each other? is it close? >> no, not at all. for example, in sicily which is the closest, that's the furthest south in italy, that gets the most of these illegal immigrants coming in. the tourism there is up 20% over last year. so they're actually feeling pretty good.
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now, there is a lot of tension, for example, between italy and france because of the immigration issue. italy does get the vast majority of these illegal immigrants streaming in just because of its geography, and the rest of europe is not real excited about getting them as well, so they get kind of stuck at the italian border which causes a lot of tension. but overall, europe's actually doing pretty well. the second quarter gdp for france was the best in two years. for spain it was the best in six years, for italy the best in 17 years. stuart: that's economic performance. i'm talking about the mood in a time of terror, and you're saying it's still relatively calm, correct? >> i mean, isn't it at the end all about the economy? if the economy's doing pretty well, people feel pretty good. now, yes, all of this, i mean, it's terrifying. that's the whole point, right? it's terrifying. but europe's pretty tough, and they're going to hang in there. right after the attack in paris i was in rome the very next day, and in rome i was a little nervous.
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our people -- this was after the big attack in the paris nightclub. i was nervous walking around how are people going to react. went to some of the major tourist sites, and everyone was acting perfectly normal. stuart: okay. >> this is not the first time for them to be dealing with this, and they are not going to quit. stuart: you're in the investment business, you handle the accounts of wealthy people in europe and the united states. okay, got that. why is this market down, it's down another 76 points right now. is it some fallout from the terror attacks in europe, or is it the unraveling, some would say, of the administration here in america? >> well, the markets hate uncertainty, and we have in just the past week, we've gone from talking about the potential of nuclear war with north korea to this week where it's all about, you know, some horrible domestic terror event. and you've got an administration that is becoming increasingly isolated both within and outside the beltway. all of that just means a lot
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more uncertainty, and all of these policies that the administration talked about during the campaign season become a lot more challenging without the support. stuart: yeah, it is. lenore, thanks very much, indeed. as you were speaking, i notice that the dow is taking another slide. now we're down 81. that puts us at 21,668, down 82. just in the last few minutes we have seen a slide, right since the top of the hour. now it's 82, 21,668. keep an eye on the bottom right-hand corner of screen. that's where we carry the dow industrials. in washington groups, as we have said many times this morning, all kinds of the president's con constituents, they're just walking away from the president whether it's business leaders, republicans, military leaders, there's a distance on those constituent groups. the president is heading now to camp david. i say this is -- and he sees it, i believe, as a chance to regroup. can he turn things around? let's ask the blaze host, his
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name is lawrence jones. he's in new york with us today. welcome to the show. >> thanks for having me. stuart: now, we hear this is a trip to the country, regroup. do you think he's going to do it? can he? >> is he going to listen to his advisers, i mean -- stuart: is he? >> i don't think so. you know, donald trump is a great man when it comes to economics, and i really support his business agenda, his economic agenda. but when it comes to sometimes in the political spectrum he can be stubborn, and that's been his biggest flaw. stuart: is he going to back down? >> he never backs down which is sometimes good because we need an aggressive president, especially when it comes to defense and taking that charge. stuart: yep. >> but sometimes you need to defer to your leaders. and i thought when he brought kelly -- which he respects generals very well -- i thought he would listen to kelly. when he did that press conference this week, it showed he did not listen to kelly, and that concerns me. stuart: that's a problem.
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>> now it's become a distraction. he could talk about economics all this week, and now we're talking about a domestic terrorism event led by white supremacists. the president could be leading right now, talking about economics, talking about the stocks, but he's not talking about that. we're talking about race, and race is a difficult topic for any president. and the president didn't do a good job on it when he pivoted back to his last talking point. stuart: i want to the talk to you about the terror attacks in europe, fallout here. >> right. stuart: there are going to be calls for the more direct surveillance if i call them suspect groups, i'll call it that. >> right. stuart: there's going to be a challenge, more surveillance. is that going to be more profiling, and what would you say to it? >> welsh, there's a difference between -- well, there's a difference between a criminal profile and a racial profile, and i think that's a lot of differences that people don't quite understand. your criminal profile can have race and gender and religion, all that can be included in a -- stuart: come on, lawrence, the target group, we all know, is
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muslims. >> well, that is the enemy right now when it comes to radical islam, islamists. stuart: right. >> but not the moderate muslims. and we have a lot of them that come on fox and talk about radical islam as well. but the president does have to be forceful when it comes to going directly after the enemy. and if religion is a part of the criminal profile, then let's discuss that, let's surveil it. but it's not a surveillance problem, because we've seen these people being on watch lists. we see that even this attack overseas that they talked about, they were watching the situation. the problem is we're watching people, and then we don't end up stopping them. i don't think we have a surveillance problem, we have a criminal justice problem where they need to actually get warrants and arrest these people before they can commit these attacks. stuart: you would not object to more intense profiling of a target group, would you? >> i would not object, as long as it's a criminal profile. you can't just target people because they're muslims. but if they have terrorist ties, if you see them going back
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overseas, back and forth, if you have any other intelligence that links them and their religion, then that's not illegal, and i think we should be more aggressive when it comes to that issue. stuart: lawrence jones on a friday morning, thanks very much, indeed. >> thanks, brother. stuart: all right. jam-packed hour coming up for you. still to come, "the new york times" dub cannedded him america's most famous marxist economist. his name is richard wolf, and he says the president's tax reform plan is just greed. he will be with us in the studio later this hour. police searching for a suspect in barcelona. we want to know what measures can american police take. gregg jarrett, a lawyer, he'll tell us what the constitution says about sur rail lance. but first, one of the few rabbis invited to the inauguration, we'll pose the question to him do you still stand by president trump? coming up. ♪ ♪ ♪
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stuart: all right, the dow industrials as of right now down 100 points, almost 100. remember, we're down 274 yesterday. there's a lot of concern about the stability at the white house and the administration, and its ability to get something done with tax cuts. a lot of concern, we're down 89. well below 21,7. now this, cnn anchor wolf blitzer asked on air if the bars loan a that terror attack was a charlottesville copycat. >> there will be questions if what happened in barcelona was at all, at all a copycat version of what happened in charlottesville, virginia, even though there may be different characters, different political ambitions. they used the same killing
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device, a vehicle going at high speed into a group, a large group of pedestrians. stuart: look, i saw that as a direct attempt by wolf blitzer to link president trump, charlottesville with spain and terror. i don't think that link is legit. let's bring in rabbi marvin heyer with the simon wiesenthal center. you just heard that sound bite. your reaction to it, please. >> well, i don't think you can compare a terrorist attack where people were murdered with the events in charlottesville. but let me say at the same time, i'm a big critic of what happened in charlottesville. i don't think the president handled it correctly. i think his first statement should be, should have been an unequivocal condemnation of the klan, of nazis marching in the middle of our streets with a swastika shouting blood and
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soil, dancing that they're going to outlive jews, commenting about how can you allow your daughter to marry a jew in the streets of america. and the president should have condemned that unequivocally -- stuart: any idea why he doesn'tsome. >> you can't compare that to the events in barcelona. stuart: any idea why he didn't come right out and say swastikas in the streets of ap american city are -- an american city are just not on? >> i have no idea. i can't understand that. nor can i understand in his first remarks he talked about the economy. first time he spoke, he said jobs are up, the economy's up. that has nothing to do with charlottesville. you could say that on another occasion. you could be very short and brief, and you could say the united states of america will merv tolerate -- will never tolerate the klan, neo-nazis, because they want a united states of america without jews,
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without african-americans and without latinos. and that's all he should have said. stuart: in light of this, i know you were an original supporter of the president. you were there at the inauguration. are you still a supporter of president trump? >> first of all, let me make it very clear, the simon wiesenthal center supports all presidents, democrats or republicans. when they get things right, we're with them. when hay get it wrong, they -- when they get it wrong, they hear from us. stuart: okay. i want to ask you about europe. we understand the jewish population of europe is shrinking, jewish people are moving out after a series of anti-semitic attacks there. is this accurate? is the jewish population in europe shrinking? >> it is absolutely accurate, and the european leaders are very concerned about this. and the reason is they've budgetinged the whole issue -- bungled the whole issue. they've allowed, they have not had the proper security, they're
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not -- the muslim community there needs to be brought in together with the jewish community, they've not made any progress on that. when i met with the president of france, the previous president, i asked him directly how many of the imams are cooperating and have joined groups together with jewish rabbis in a joint coalition, and he said only a very few. that's a big mistake. if we're going to -- if europe is going to be safe, those two communities must get together. and may i tell you something, the simon wiesenthal center is working very closely with the head of an arab country that will soon be identified for a major event to confront this very issue. it has to be to jews and muslims together. if we don't do it that way, europe will be a catastrophe, and in the united states it will come across the atlantic to our
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own shores. we're going to have to work for a coalition of the good. and one other comment, if i may. most people don't know this. the united nations, i met with the secretary-general of the united nations in july, and he confirmed this. the united nations has not yet condemned terrorism as a crime against humanity. they're tangled up with the issue of state terrorism and whereas starvation, mass rape, warfare is considered a crime against humanity, terrorism has not yet been -- the united nations has not stated that terrorism is a crime against humanity. that is horrible. stuart: it is. rabbi, we appreciate your presence on the program today. come back soon. i want to hear that announcement with that leading arab country. thank you, sir, appreciate it. >> thank you. stuart: all right. what else have we got for you in this jam-packed hour?
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i'll tell you, bernie sanders pushing a single-payer health care system, medicare for all. massachusetts senator elizabeth warren wants democrats to move putt to the left. well, in light of all of that, we have america's most famous marxist economist on the show, richard wolffe. we'll get his reaction. first, check that big board. the market has come back. we were down 100 points literally six or seven minutes ago, we've come back to a -60, 21,686. we'll be back. ♪ ♪ don't let dust and allergens get between you and life's beautiful moments. flonase outperforms the #1 non-drowsy allergy pill. it helps block 6 key inflammatory substances that cause symptoms. pills block one
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stuart: in the headline news today, the wisconsin state assembly has a passed a $3 billion tax break package for the fox facility that's going to to be built in wisconsin. the vote now sends the bill to the senate. foxconn wants to build a $10 billion display panel manufacturing plant that could employ 13,000. the deal was originally announced by president trump and governor scott walker. iowa's only obamacare insurer, medical, is looking for a 57% rate increase for tens of thousands of customers. this is one of the biggest
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premium hikes today, up 57%. m everything dica -- medica says it's because of uncertainties over federal health care subsidies. applied materials makes the machines that make computer chips. doing well, making money. the stock is up nearly 2%. higher sales of discounter, that's ross stores, that's good for a 9% gain. foot local, oh, going the other way bigtime, down more than 20% on weak sales, 27%, to be precise. the gap, there's a bright spot many retail, raised its full-year profit forecast helped by strong demand for old navy products, better inventory products. it had been up, now it's down. check that big board, we're down 57, 21,693. president trump tweeting this morning, quote: radical islamic terrorism must be stopped by whatever means necessary. the courts must give us back our
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protective rights. have to be tough. we have a lawyer here. he's going to tell us exactly what our constitution will allow us to actual do. first though, professor richard wolff, the missouri times call -- "the new york times" calls him america's most famous marxist. he's with us 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. and with heart disease, your risk is even higher. you didn't know that. no. yeah.
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but, wait, there's good news for adults who have type 2 diabetes and heart disease. jardiance is the only type 2 diabetes pill with a lifesaving cardiovascular benefit. jardiance is proven to both significantly reduce the chance of dying from a cardiovascular event in adults who have type 2 diabetes and heart disease and lower your a1c. jardiance can cause serious side effects including dehydration. this may cause you to feel dizzy, faint, or lightheaded, or weak upon standing. ketoacidosis is a serious side effect that may be fatal. symptoms include nausea, vomiting, stomach pain, tiredness, and trouble breathing. stop taking jardiance and call your doctor right away if you have symptoms of ketoacidosis or an allergic reaction. symptoms of an allergic reaction include rash, swelling, and difficulty breathing or swallowing. do not take jardiance if you are on dialysis or have severe kidney problems. other side effects are sudden kidney problems, genital yeast infections, increased bad cholesterol, and urinary tract infections, which may be serious. taking jardiance with a sulfonylurea or insulin may cause low blood sugar. tell your doctor about all the medicines you take and if you have any medical conditions. so now that you know all that,
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what do you think? that it's time to think about jardiance. ask your doctor about jardiance. and get to the heart of what matters.
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stuart: well, well, well, it's 11:30 here op the east coast -- on the east coast. we were down 100 literally minutes away, now we're down 29, now we're down 28. i'd call that a comeback. 21,7 is holding at the moment. from spain, secretary of state tillerson confirms one american was killed in the barcelona attack, a total of 14 -- that is the death toll overall for barcelona. now this, in finland a knife attack. >> yeah, one man is in custody now. he's believed to have stabbed quite a few people, maybe as many as six in the southwestern part of finland. it happened in a market square. police are looking for potentially more suspects. the motive unknown, but security
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is now at high alert on the trains and the helsinki airport, and local media reporting that one person has died as a result of this stabbing, but finnish police have not confirmed that yet. stuart: normally, we do not deal with stabbings in finland, but in light of the terrorist attacks and an attack like in this -- >> absolutely. stuart: -- stabbings in the main square, you report it. >> yep. stuart: got it. now this, senator elizabeth warren coming on strong for a 2020 challenge. she's urging democrats to reject the center and move far left. democracy at work founder and the new school visiting professor richard wolff is with us now. she doesn't go -- you're the marxist, right? >> i am. happy to be so. stuart: in -- i can't believe it. actually -- >> life is changing. it always does. stuart: okay, comrade. does elizabeth warren, the good senator, has she gone far enough enough heft for you? surely not. >> no, she hasn't, but i can see what she's doing is continuing,
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in a sense, what bernie sanders was trying to do, which is to open up the question of what direction that party should be. and i think it's a reflection of what's happening in the united states as the country splits more and more between rich and poor and those who benefit from government programs and those who don't and so on. there are going to be questions about the political life we lead, and the old style is going to vanish and new parties and new splits will are emerge. she's just part of that. stuart: that's interesting political commentary bearing in mind the state of america today. >> right. stuart: now, bernie sanders, he wants to go a little bit further left, i think. he's got this single-payer idea, medicare for all. >> right. stuart: now, we've got a report from the urban institute that says that medicare for all over a ten-year period would cost $32 trillion. that's a little daunting, isn't it? >> it's daunting. it's one of many estimates, some of which are much lower than that -- stuart: true. >> so you have to kind of -- stuart: but you would take it off the rich?
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>> no, i would take it off a change in the economic system. i don't think whacking one group of the population to help another is a way to to build a community or to build a nation. i would never do that. stuart: how would you come up with trillions of -- let's call it $32 trillion. how that change in the economic system, how do you come up with the money? >> well, to give you an example, we have a society now in which, according to oxfam in england, something like the richest 25, 30 people own as much wealth as the bottom half of the population of the planet. if you begin to deal with a change this economic system, you would distribute our wealth in a different way -- stuart: ah -- >> i'm not in favor of taking it from the rich for the poor. i'm in favor of not distributing it unequally in the first place. stuart: so somebody has to give up their wealth, and you're the one who's going to take it. >> no. stuart: yes. >> you're going to change the system so the wealth is not distributed that way in the first place. stuart: it's already been distributed in that way. what do you have, a revolution?
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>> no, that's what you do. you change the way the economy works so it doesn't distribute it to a few people enormously -- stuart: wait a second. >> that's why we have these struggles. we take from the rich to give to the poor and then are surprised that society's ripped apart by conflict. stuart: jeff bezos has a personal wealth right now of roughly $90 billion. >> yes. stuart: that's wealth. how do you take it off him? how do you redistribute that wealth which is now his? >> right. you can notice if you talk to jeff bezos, warren buffett, bill gates or think of those folks, they're in the process of giving that wealth away the charities, to whatever it is that occurs to them to do. they're famous for doing that. i have a better suggestion. change the economic system so that we don't have one person in the -- stuart: they've got it. but they've got it right now. heavy got it. you've got to -- >> but we live in a democracy. if the majority of people were to understand how a different economic system would distribute things in a different way, we would have the mechanism to go in that direction.
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stuart: you've still got to take it off them. >> no, you've got to change the system. stuart: you take it off somebody. you take it off me, liz, ashley. if you -- >> you know, the irony -- stuart: you take it off. >> the irony is here i am, a socialist, telling to you i'm not in favor of taking it from one group and giving it to another. stuart: [inaudible] >> we're not in that box. stuart: you've not explained the me how when we've got this deferent system imagine -- different system magically the wealth of the bezos of this world goes away there them and goes to other people. you've not explained how this happens. you say a vague change in the economic system -- >> no, it's very concrete. let me explain. suppose you had, which we already have around the world, something called a worker co-op to, a situation in which a business is owned and operated by all the people in a democratic way. so they sit around and disease, like we do political decisions, how we produce, what we produce, what technology we use and how we distribute the fruits of what
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everybody helps to produce. they would never give billions to one person while everybody else can't send their kids to school. a cooperative -- stuart: yeah, because you have expropose rated the wealth. -- expropriated the wealth. you've literally changed the system and taken it away from the people who have got it now. >> absolutely. you change the systems. stuart: you have done it by force. >> not necessary. stuart: i'm not going to give you my wealth. you're going to take it off me. >> but you agree that we live in a democratic system and if the majority of the people want to change it, then you would go along with it, otherwise you're not supporting the democracy. stuart: no. you're taking it off me. somebody with a gun, a police officer, will come to my house and take my wealth. that's what you're talking about. >> i'm talking about letting the people in this country decide whether they would rather have an economic system that functions democratically at the workplace or keep the one we
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have which produces this inequality that puts us at each other's throats. stuart: okay. how about this one. sir richard branson wants a universal income for all, his rationale is that robots are taking over, somebody's got to provide an income for people who lose their jobs. in principle, are you in favor of the universal income? >> no. stuart: really? >> no. stuart: why not? >> i told you, socialism, marxism, these things are changing and rethinking just like everybody else. here's what i don't like about the universal basic income. i like the idea that we can take care of everybody, and we ought to as a nation. what i don't like is to divide society into those who work and earn their income and those who don't work and still get an income. i don't see that as healthy, i don't see that as fair, and i see that as a prescription for trouble down the road. here's my suggestion. when we have technological change like robots, computers, let the work day be shortened.
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make everybody work to do their fair share and participate in the benefits of technology with a shorter workweek for everybody so nobody gets an income without working, and no one works without getting an income. that would be a better way to take care of people than what we do now which is use technology to make a lot of profits for people, throw a lot of people out of work and then be surprised when they're at each other. stuart: do you realize that you now have the largest audience of capitalists that you ever will have in your life? [laughter] >> i hope i will have more of them. stuart: i hope we get more of them too. >> good, let's work together on it. [laughter] stuart: last one, and i've never, ever been able to nail down a socialist, marxist, communist, whatever, on this. someone who makes $10 million a year, for example -- this is before the revolution. as of right now, you make $10 million a year, what's the fair share of the government from that $10 million a year? >> you know, the answer depends on your understanding how our tax system works.
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stuart: no, it doesn't. >> it does. it's not about a rate. stuart: it is about a rate. i'm asking you about the rate -- >> on what? stuart: on your earned income. >> that's not the only tax we pay. we pay on our property -- stuart: okay. tell me about earned income. somebody makes $10 million a year in earned income. they go to work every day, whatever it is, and they get paid $10 million a year, $800,000 a month, what is the fair share of the government from that $10 million? >> i would propose that we go back to that which was in place under president, republican president dwight eisenhower. fifty years ago we had a tax system that took a great deal more from that person than the tax system we have today, and we had a faster rate of growth, and we had lower unemployment. [inaudible conversations] >> you had recessions every other year. >> recessions every four -- >> every other year. >> never have we had that. [inaudible conversations] stuart: hold on a second.
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there's one thing you are forgetting and that is that in the 1950s, '60s and '70s, there were enormous deductions that wealthy people -- >> always. stuart: it wasn't anywhere near 70%. >> absolutely. but it was way above what we have now. so i wanted to stress i'm not asking for something utopian and strange and distant in the future, i just want us to go back to what we all as a nation -- stuart: tax the rich, tax the rich and expropriate wealth. >> no. change the system so we don't have the problem. stuart: i was -- [inaudible] folks like you. >> that's why you were surprised by what i said. [laughter] stuart: you could never surprise me, professor. that was fun. >> good. stuart: will you come back? >> absolutely. stuart: if i invite you. [laughter] you're all right. thanks very much, comrade. question, how do you stop a terror attack before it happens? and does our constitution, may i say, get in the way of stopping those attacks? we'll ask that question. three pakistani brothers working for the house -- for democrats on the house intelligence committee.
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the brothers were fired, but one of them worked for debbie wasserman schultz. just indicted by the fbi on four counts. we've got the full story for you. ♪ ♪
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♪ ♪ >> i'm nicole petallides with your fox business brief.
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home depot moving forward with their alternative and renewable energy goals of 2020. taking a look here, home depot, general electric and tesla all to the downside, but they are moving forward to reduce their electricity grid demands by 30-35%. that's the equivalent of 2300 u.s. homes. they're installing these solar panels across the country, working with ge's current and new jersey, new york, california, connecticut, maryland, washington d.c. when you look at a home depot, understand that the average store roof size is approximately 104,000 square feet. that will accommodate 1,000 panels moving forward, saving on energy. ♪ ♪
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stuart: an update on the stabbing attack in finland. >> we have now got confirmation one dead in the stabbing attack, eight people injured. it's believed five of those are women, one pushing a program. a suspect going -- a pram, a suspect in southwest finland started holding a very large knife according to witnesses and just was stabbing anyone he could get close to. he was shot in the leg and is now in custody. the search for potentially more suspects goes on. security on high alert on the trains and the helsinki airport right now. stuart: thank you, ashley. >> sure.
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stuart: now this, fox news anchor and former defense attorney gregg jarrett is with us, and here's my question: what does the constitution of the united states allow us to do in terms of surveillance of, for example, muslim communities in the united states? what are we allow to do, gregg? >> depends on what you're doing and where you're going. look, you can surveil people in plain sight, in public places. you can actually send what are known as rakers, undercover people, into mosques as long as they're open to the public. what you cannot do is surveil through electronic surveillance, listen in on conversations without a warrant. you have to have probable cause. if it's a foreign conversation, you've got to go to a guy saw court. if it's -- fisa court. if it's just a conversation between people in america, you've got to go to a regular judge and get a probable cause warrant. there has to be some reasonable basis for believing that criminal activity is afoot. stuart: it sounds to me like we
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are allowed to go quite a long way in surveillance so long as you've got a warrant and probable cause. got those two items, you do it. >> you absolutely do. and, you know, our constitution has restrictions, but in places like spain and elsewhere they can go even further in a lot of circumstances. [laughter] they don't need things like a constitutional probable cause warrant. stuart: it's very interesting that it was a terror cell in spain that planned out the barcelona attack. that was not cracked. the authorities did not know it was coming even though they've got this power of surveillance that we don't. >> yeah. the problem is that a lot of those muslim communities are very insular. i talked to a foreign expert last night who said, look, that's the real problem. they stay to themselves, and it's hard to get inside those terror cells. stuart: the news this morning on debbie wasserman schultz and her i.t. specialist, the i.t. specialist has been arrested. i think there are now four counts against him. >> that's right.
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stuart: he's one of three pakistani brothers who had access to the computer systems of members of the house intelligence committee -- >> and the foreign affairs committee. stuart: and the foreign affairs committee. now, it seems to me there's more to this than just bank fraud charges against the gentleman on the left what's going on? >> yeah. now, look, it's conspiracy, making false statements, but there will, i predict, be a lot more charges. and they'll be serious charges. if, in fact, he was downloading sensitive government information to a remote server, that's a whole new class of crimes. but the biggest question is what about debbie wasserman schultz and her involvement in this? she kept him on the payroll at taxpayer expense even after he'd been banished from the systems in the house of representatives. and she was caught on tape threatening, it appears, a capitol hill police officer over this entire incident. so that could arguably be obstruction of justice.
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stuart: hold on a second, gregg. i want to go to the big board to show that the market has come back. thousand we're down 20 points -- now we're down 20 points, and here's the reason according to charlie brady, our stocks editor. stocks rebound on a report that white house officials expect steve bannon to be fired. that's what i'm just getting right now -- >> that's a bombshell. stuart: that's why the market's coming back -- >> what does that tell you? stuart: division in the white house, turmoil in the white house is the main reason why we sold off yesterday and again this morning. now word of the possible -- >> that tells you everything. >> is anybody surprised? >> no. bannon goes, market likes it. cohn goes, market hates it. stuart: stay there, gregg, the market's only down 17 point toes, and we'll be back. -- points, and we'll be back. ♪ ♪ don't let dust and allergens get between you and life's beautiful moments. switch to flonase allergy relief. flonase outperforms the #1 non-drowsy allergy pill.
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your insurance on time. 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: all right, listen to this. this is why the market's coming back strongly. an article in the, in axios, a political web site, says that the chief of staff john kelly is going to push steve bannon out of the white house, and a decision on that could be imminent. when that hit the news wires, when it hit this program actually, the i dow started to
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come back, and we're now down only four points. we had been down over 100. >> that's quite a bombshell, that this is happening. >> it is. stuart: but to some degree it was expected, because the president is going to camp david, he's going to regroup the white house. that could mean the firing of some members of staff who have been contentious. >> and as gregg just pointed out, we were kind of surprised that bonn -- bannon wasn't let go at the same time of scaramucci -- >> there you go. i figured he'd be cannedded the day after the mooch lost his job. so i'm surprised it took a couple of weeks. >> steve bannon gave the american prospect interview that did not go over well at the white house. he was saying democrats, we'll get them to play the race identity card, we will stay on economic nationalism. it didn't fly, it fell like a lead balloon. stuart: and that's why general kelly is stepping in, maybe, to get rid of bannon. >> yep. stuart: happening right now.
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watch that left-hand side, that's president trump landing at hagueerstown, jan. he's on his trip -- actually, he's going to camp david. he's on his way with, so to speak. market dead flat. it had gone slightly positive on this news that maybe steve bannon is out at the white house, maybe. dead flat as of now, 21,749. one more for gregg jarrett, out on a limb with this one, i think -- [laughter] congressman steve cohen, he's filed articles of impeachment because of president trump's charlottesville response. i don't get why that is a cause for impeachment. >> well, that's ooh just an ignorant statement by the congressman. i'll loan him my pocket constitution which i have here in front of me. in particular, i've flagged article ii, section four. impeachment is for treason, bribery, high crimes and misdemeanors. so this congressman cohen says, oh, gee, i didn't like the president's statement on saturday or last tuesday, even
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though the president was healey and factually -- legally and factually correct. and the chief of police, there was assault and battery on both sides. ask besides, the president expressed his opinion which is protected speech. and so this is just pure sulliness and -- silliness and rank bias on the part of congressman steve cohen. surprising, because he's actually a lawyer, but he must have slept for three years during law school. stuart: you're a tough guy, aren't you? >> i'm honest! stuart: you used to be a lawyer. >> look, you know, a statement in which the president condemned racism, hatred and beg ottly and this guy -- bigotry, and this guy wants to impeach him for it? what the heck is he smoking over there in tennessee? stuart: okay there, what's your name again? [laughter] gregg jarrett. >> that was stu varney who made those outrageous statements. stuart: that there is air force one, and that's at hagueerstown, maryland. the president is on his way to
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camp david. now, this was a planned excursion to the fresh air of the countryside, and we were told he was going to regroup at the white house. >> couldn't come at a better time. get some distance, think it through. maybe this steve bannon thing is true. i think it's a positive step. kind of reevaluate where they are and set off again and try and get this thing done. stuart: back up a little, i should say. >> yes. stuart: yesterday the dow industrials went down 274 points. that was largely on the possibility that gary cohn, the principal economic adviser to the president, would step avoid because of the comments about charlottesville. well, the white house put out a statement saying gary cohn's not going anywhere. he's staying. this morning we had a headline in "the washington post" that says, yes, he's not going anywhere for now. those two words again put the gary cohn story in play x the market went -- and the market went down about 100 points. >> maybe bannon's dismissal was
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part of gary cohn's decision to stay. stuart: maybe. all part of what's going on inside the white house. but the bottom line is, and i'm going to repeat this, liz, hold on a second. axios, that's a political web site, now says the dismissal, the firing of steve bannon -- a contentious figure in the white house -- that is imminent according to this web site. >> quoted many west wing officials are now asking when, not if bannon is leaving. the if bannon goes. chief of staff general john kelly has been reviewing steve bannon's position in the white house, according to this report. stuart: well, he wants some discipline in the white house. he wants the white house to speak with one voice. that will be the president's voice backed up by general kelly. now so far the general has not been able to rein in president trump's tweets. >> that's correct. stuart: witness that rather strange and inaccurate tweet yesterday about the general pershing, i believe it was. it was an inaccurate statement from the president chucked into the middle of the barcelona terror attack.
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obviously, that had not been filtered by general kelly. >> right. stuart: but now it seems maybe the good general is imposing some discipline on the white house. >> yes. yeah, if you remove steve bannon, it doesn't distract the president from his message of economic -- [inaudible] it keeps him on message and focused on that agenda. stuart: everybody wants -- >> that's the theory. >> they do, but that message has been stalled, it's been pushed aside to deal with, you know, the disaster or the mayhem du jour. we need to get back on track. i think camp david, get kelly out there, say, okay, mr. bannon's gone, gary cohn, he's the glue, if you like, to put this economic agenda through. stuart: what shocked me this morning was the statement from senator bob corker, republican from tennessee, who questioned the stability of the president. not the presidency -- >> and the competency. >> right, and competency. stuart: and his competence. >> tennessee again. something's going on in tennessee. [laughter] stuart: but if the white house is now subject to some more
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discipline, speaks with one voice, a more cautious voice, gets some competency back -- >> and gets some victories and some wins. stuart: you need a win! >> anything. stuart: all right. our time, all three hours of it, is up. but gerri willis is here in for neil. go ahead, gerri. gerri: this is "cavuto coast to coast," i'm gerri willis. stocks turning around on a report that a decision on steve bannon's future, well, it's imminent. and officials are expecting a firing. we're going to dig into this over the next few hours, but i should tell you this, that this is a single report. we're telling you this because the markets have turned around 90 points. but first, our top story, terror striking spain. two attacks in the last 24 hours leaving at least 14 people dead and more than 100 injured. a manhunt underway for the driver who mowed down innocent people. police killing five suspected terrorists in the pursuit and

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