tv Varney Company FOX Business March 12, 2018 9:00am-12:00pm EDT
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sentiment. >> especially the cpi on tuesday. good move for the market. >> the democrat running in the special election doing better than expected with the bold move of calling for nancy pelosi to resign for 2016. if you want to win elections today, you buck the establishment shared >> banks come everybody. great to see you. stuart varney begins right now. stuart: yes indeed he does it if you want to know what's happening to your money come you're at the right place. after friday's blowout rally, you could expect a blowback for the dallas got to be up 30, 40, 50 points in the opening bell. looks like technology will do very well again. the nasdaq is up a whopping 4% so far in march. 9.5% this year and going up again at the opening bell this morning. the economy is doing very well.
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the trump growth plan is working and keeping the trump stock market rally going. this week, the president takes his message on the road. aggressively selling his agenda directly to his political opponents. tomorrow he's in california for the first time this president going right at the center of the trump resistance movement. then he goes to missouri, trump country while going after democratic senator claire mccaskill up for reelection. a recent poll shows she is vulnerable. saturday nights blocked the street speech in pennsylvania, vintage trump unleashed, going right at democrats using his style and record to hammer his opponents. that is your monday morning. your money is doing well and the president on the attack, watch out. "varney & company" is about to begin.
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stuart: before we get to money and politics, i'm talking tiger woods. tied for second in the bowsprit championship this weekend. the 18th hole for nearly 40 feet. one shot behind the winner. tiger woods is back in golf. ashley: many see the ratings that tiger woods is back with in contention like u.s. and insomuch problem with fusion surgery. he came in second. he was tied for the league. that generates a lot of ratings. the crowds prepare me because it was the masters he's really -- his game is going up to now.
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liz: he had spinal fusion surgery with my last hope, last-ditch effort to get back in the game. stuart: looks like it worked. he took an iron to 450-yard hole. we are going to move on. looks like the growth agenda. the trump growth agenda is working. investors like it. we will be up across the board. 40 points for the dow, five for the s&p, 25 for the nasdaq. i've got a big number for you. more then 800,000, the number of people who join the workforce in february. bypassing unemployment, jumping straight into jobs. james freeman, "wall street journal" editorial guy is with us now. why is the 800,000 number are such a vague possible deal. >> this is what we've been waiting for, they left the labor force coming back into the job market and a lot of people and
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former economic adviser said this can't happen anymore. we are confined to a new normal secular stagnation, the u.s. can't grow the way it used to. now we are seeing this huge growth. it's really hard to find anything wrong with this report. but it is the number of elite. 800,000 people since 1983, and you're one of the great reagan boom. stuart: what was completely overlooked last week was the democrat's growth plan. but she didn't even know they had one. will they do when they announced it. raise taxes on the rich, corporations, bring back the amc and tighten up on the estate tax. did you hear about it? liz: there's a walter mondale democratically forgot about his plan, too. stuart: i guess so. trump is steamrolling along at a speech in pennsylvania coming totally ignored the
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extraordinary stuff. >> it is early days, we will see. so far the results are outstanding. look at the friday's jobs report. double the number of manufacturing jobs expect it. according to the economic consensus. a big surge in retail. some government jobs, but over the last year not that many government jobs created. this is growth in the real economy that can give us higher living standards and wages. ashley: very difficult for democrats to answer this. >> increasingly difficult and they are now realizing how they botched the tax debate. they should've been at the table figuring out what is tax relief that works for them as opposed to just complete opposition and is getting more people popular as people realize everything for economic interface. stuart: stay there, james. you're not dead yet. pure politics. president trump campaigning for rick saccone saturday night.
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>> maybe we are going to try. [cheers and applause] but i'm joking. >> love oprah winfrey to run. but to beat her. maxine waters, a very low i.q. individual. stuart: okay, coming on strong. the turning point u.s.a. guy may be a future president. welcome back. the president's speech in pennsylvania in my opinion turned it into a referendum on him. >> i don't know about deputies putting a lot of political capital behind this raise here this is trump country. if he didn't show what people would wonder why. he wants to keep the house fee. this candidate leaves a lot to be desired. he's not the most charismatic, most attractive candidate versus the younger more conor lam wing of the party. stuart: but did you like that
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speech? >> it is authentic, real chemistry to the base. does anyone actually think maxine waters has a high i.q.? seriously. stuart: but it's a referendum on how voters react. >> it is also still the candidate up against each other. each other. democrats pointing $10 million to the special election. i think a republican is going to win. i really do. the tears that president trump afford will help in that part of the state. if they lose comment going to be alabama, pennsylvania and the republicans have to say a better candidate selection. we also have to take this serious. there's definitely a well-funded democrat opposition that we take seriously into november. stuart: what about california? look at the prototypes for the wall. he's going to the belly of the beast. >> looks like he's going to another country. every single lawsuit is the
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president reaching out of arizona. you see the mayor of oakland who should've been arrested for what she did. literally aiding and abetting fugitives against i.c.e. agents. by the president is going to the belly of the beast and the low part of the country. stuart: the fresno reporter will have an organized demonstration. trump not welcome in l.a. do you know where that demonstration is going to be? >> i don't know, where. stuart: beverly hills. it's not classic? >> that's about right. i hate polls, but they live in their mansions with high walls. they hate school choice but to send their kids to private schools. stuart: i notice you are losing weight. >> i'm not running for anything. stuart: not this year. >> no, i want to help the president. no, no, my passion right now is to help the president helped keep this country great.
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i love the slogan keep america great. stuart: the new slogan, keep america great! >> it's not a low-energy slogan. stuart: young man, we'll see you at the white house in about 34 years. goldman sachs named david sullivan, their new copresident and chief operating officer. the current c. 00 is retiring. solomon would be next in line behind lloyd playing fine. he said he's not going anywhere despite reports to the country. triple seen on new york city's east river. five people died after the helicopter crashed into the water last night. only the pilot survived. he freed himself, rescued by the top vote. a recording of his made a call and he can be heard saying there was engine failure rate there. governor rick skype signs new
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gun legislation. coming up, andrew pollack, the impassioned father of a victim of the school shooting was standing next to the governor during announcements. here's my question. is he satisfied with the new florida measure? we don't know where and when president trump meets kim jong un, but the cia laid out the terms of the get-together. sebastian gorka will join us. did we give kim too much just by agreeing to meet?
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lives, liz: we don't even have the charging station for electric cars or model three deliveries on-time. now he's saying trips to mars by a think the first test of next year. pretty ambitious. stuart: they send a spaceship up there? liz: he will launch a spacex rocket to put men on the moon. it is going to do it, yet. but he also says i have been optimistic in my timelines in the past. almost in the same breath. humanity faces a grave serious threat from possible world war iii for an extension of.for robots. that's what he was talking about. stuart: welcome he's doing rather well with private and surprise. ashley: for early people to go to mars, will be far more dangerous. difficult, dangerous, good chance you will die excitement
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for those who survived. stuart: good in making headlines. train for the stock is up 33% year-over-year. stuart: north korea, president trump would meet kim jong un. no word on when or where. cia chief mike pompeo has confirmed the following terms of the meeting. he can't conduct nuclear testing. he has to let us perform our military exercises on the peninsula. they've got to leave the door open for denuclearization talks. here's the cia chief. roll tape. >> never before have we had conditions where their economies under such risk and leadership under such pressure that they would begin conversations on the turns kim jong un has perceived. stuart: the after defeating jihad and fox news national security strategist sebastian gorka appeared welcome back to the show. >> thank you. i like the intro you gave in the last session, national security
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guy. stuart: that is what you are, isn't it? a lot of people say we kind of gave the store away by agreeing to meet. we didn't get anything in return. what is your reading? >> totally bogus. let's be pragmatic. the president is the ultimate pragmatist at one scenario we could follow. we could've continued the last 25 years, which is an escalation of the situation may get more nuclear capability, more ballistic missiles are we could've gone to war with north korea. in the third option where for the first time in 65 years the regime, which is being squeezed is going to sit down with an american president. of the three options, this has to be the very, very best choice. stuart: do you think it's possible, big picture possibility here, that we will end up with the nuclear eyes north korea, american troops completely out of south korea
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and no american nukes in south korea? that's a big picture deal. is that possible? >> nobody ever gets tested upon their predictions a year down the road. do you remember what you said? the situation is the following. the two preconditions that are nonnegotiable have already been agreed to. no more illegal nuclear warhead defamation testing and no more ballistic missile launches. not by itself is a massive win. nevertheless, nevertheless we are realists and we understand what korea is a stylistic dictatorship and leadership sly in 1938 with munich led to the cold war to khrushchev, so as reagan said, trust, but verify. stuart: what is fascinating in other developments that the president involved in around the world? what does it say about america's
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role in the world now versus america's role in the world under president obama? >> how long have you got? i summarized it in a piece on the hill on saturday where everybody to understand our friends, allies and bad guys need to understand the plastic switch that hillary gave to loud rock, the reset switch. what the president is doing right now is a real reset, but a global one with the aluminum terrorists. he is saying what, it is cleared, not flat, not level whether it's trade, international regimes and we are going to correct it in america's favor while supporting our friends and partners whether it's south korea, japan, poland, israel. it is a global reset. the sooner people understand that, the better. train to sebastian gorka, thank you for joining us. we'll see you again soon.
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elizabeth warren says she's not running for president in 2020, but don't ask her to prove her claim of her native american heritage. we will discuss that one for you. the houston astros will head to the white house today with spring training for the day. only one player for the team will not attend. full story coming up for you. fo
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stuart: 400 points friday. up 40 or 50 points at the opening bell monday. that is the state of play on the market this morning. massachusetts senator elizabeth warren on her plans for 2020. roll tape. >> i'm not running for president, but that may tell you a little bit about my family. my mom and dad were born and raised in oklahoma and my daddy was in his teens when he fell in love with my mother and his family was utterly opposed to that because she was part native american. eventually my parents eloped and they survived the great depression. they survived the dust bowl. i know who i yam because of what my mother and my father told me,
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when my grandmother and grandfather told me, with all my aunts and uncles told me and my brothers. it's a part of who i yam and no one's ever going to take that away. stuart: she knows who she is but she won't take a dna test. he's still with us, james freeman, washington editorial guy. we can dance around the issue all day long, but why will she take a dna test and prove it? >> good thinking. she's thinking of the story very hard to believe in resisting the first to document her story. the dna tests wouldn't prove whether she was actually a member of the tribe, but certainly with some level of provision whether she is part native american. she also continues to say that her grandparents were bigots. there is no evidence as far as i know that she's presented, saying essentially at the native american ancestor who so distant i can't even come up with the name. but that was enough for the grandparents to refuse to
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sanction the parents marriage. the grandparents passed away so they can't sue her for slander as she continues to describe them as bigots with no proof. the fact that she is now resisting any effort to document the story i would think would give voters pause. >> is a big enough story that she won't take a dna test? is it a big enough story to keep her out of the running? >> i heard during 2012. massachusetts keep asking the questions. they are the ones really pressing her on it. stuart: take the test. ashley: she's not going to. stuart: let's see where we open up market, literally 4.5 minutes time on the upside. monday morning we are up a whopping 440 points on the dow on friday. coming into today, you might've thought would get some kind of fell off.
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we'll find out what happens on the market following last weeks very nice rally. friday in particular was an extraordinary day. strong job performance. straight up from there and did a search in the last hour of trading. 930 eastern time and we are up 35 points. the opening trend is not super strong. i do see a preponderance of winners on the dow 30 and now we are up 50 points. the dow stands at 25,387, a gain of .2%. the s&p up .15%. a very modest upside there. where is that this morning because it's up 9.5% this year. right now it's at another all-time high, quarter%.
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7580. who's with me, elizabeth mcdonald, james freeman still with us and keeps its joined us, too. write to you from the get-go, happy days are here again. >> happy days are always here if you've got the right company, stuart. we will see a little bit of a little bit of digestion. ultimately still higher. stuart: the big trump rally can go a little bit higher. confirm that. is that exactly what you're saying? >> the market can go a little bit higher. you can go a lot higher as long as ceos earnings on the board than they are doing that. the least resistance, whatever you want to call it is still
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higher. stuart: sort of a political guy, freeman. so do you think we might go a little bit higher on the dow? >> i don't like to make market predictions. but i will say on friday, the economy is humming, unquote. stuart: "the new york times" said that. >> the global economy is humming. stuart: i wouldn't call it a trump rally. look, those are the dow winners here at merck, make donald skiba ge endowed upon him the dow 30 stocks. how about the big technology stocks. a fantastic day and most of them doing quite well. also that up some more. apple up 180. modest downside move for microsoft. amazon is down 10 bucks at 1589. still very close to $1600 per
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share. come on back in, keith. i want your opinion on the big tech because they continue to make a run in. >> well, they do for one reason. they are all about the future. it is very hard to talk about any company being propelled higher by technology. does the weather if it's that it doesn't matter because they cannot send code than a billion dollars. >> by the way, koppel goes to 195, $15 from where it is now. apple will be worth $1 trillion. first company to achieve that market. the dow industrials now what nearly 60 points right from the get go here with three minutes in, up 60 points on the dow. space act founder -- spacex founder, elon musk told south to
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southwest he could have spaceships ready to send to mars by next year. >> yeah, he could. again, this is a guy producing 20,000 model three test was a month by december of last year. he only produced 1500 for the entire quarter of 2017. i only say that because he can't get its act together on earth, but he can talk about what's going on in space. having said all of that coming in the great entrepreneur, great salesman and he talks about going to mars and getting the ship ready to go there by the middle of next year. do we doubt it? if i can do this, it will spur other entrepreneurs and people the private sector to jump in and say we can do this. we can set up colonies. stuart: and the question is why. ashley: because he can. stuart: tesla stock was one of the few who went down.
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i wonder if elon musk made that headline about going to mars because he wanted to inject some life. it didn't work. just a fraction lower on tesla. liz: they suspended model preproduction for a week for an upgrade of factors. stuart: we try to get the stock back on track with the mars headline. we are in business for about 50 points. 25,390. longtime dow chemical chief andrew liberals intends to step down next month. by the way, dow dupont as it's now called will be broken up by the end of the first quarter next year up 87 cents. news from goldman sachs they've named david solomon their new president chief operating officer, ceo of retiring and would be next in line behind
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lloyd blank find that he's not going anywhere despite reporting recently. fractional gains of the stock this morning. the government says they could begin limited delivery within months. give me some details. stuart: talking about a 20-mile radius within a distribution center. for example, packages to start and feel their privacy concerns. all sorts of issues and congestion in the air from drowned. local government officials. >> the government says we might get drug deliveries. transfer the rules were so strict they couldn't test these things in the country. they ended up testing in the u.k. which has less rules and not as much in the air for their too protected before they could come here. this is a big development as the government says.
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>> maybe we get a next-generation technology for air traffic control drums this is an antiquated system we are dealing with. they probably ought to be machines. liz: google and amazon are working on an air traffic control. >> i would bet that would be an upgrade. stuart: james has been using laguardia airport. stop laughing. this is black panther, the movie crossed the $1 billion mark. it is still going strong and i guess that's good for disney stock. the block buster for a billion dollars. transfer one of 16 movies. what is really interesting, they've got male and female leads as superheroes. so that's why it's a hit. stuart: you don't buy disney stock because of the performance of one good movie, do you.
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you do it for other reasons presumably. >> you do. here they are creating something that is very "star wars" like. they are creating in each dose. hope and aspiration, all the things we speak to as humans. now i still don't like it in the interest of disclosure because of the espn problem. however, with more blockbusters like that, they are tipping the scales in being able to function based on hope and aspiration rather than politics. stuart: we open with a gain of 40 or 50 points. now we are up about 70 points on the dow industrials, back above 25,400. right there at 68 as we speak. they make her seven expanses cholesterol-lowering drug plan to offer discounts with wider availability to patients. what you say about that?
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would you say, keith? >> will tell you i promise that state of affairs on the drug companies take action to get the insurance companies out of the way. i'm glad to see it. i personally own fantasy. so does my family. again, this is a good move. god forbid they actually get in the way of the doctors and patients. stuart: does this have anything to do at the amazon effects? i don't think it does, but if you could pressure to lower drug prices, is that because amazon somewhere. >> could be concerned about amazon, could be president trump up talking a lot about lowering drug prices they may want to take some action on their own. to help lure those prices. >> that is the time when we say goodbye to our guests. keep in james comer very much for joining us. dow industrials now up 65 points. we are above 25,400. in 20 minutes, gardening is
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going to join us. what is he by and nyse not buying big tech? i will ask him out when. florida governor rick scott sat in the marjory stoneman safety act with gun control measures galore after the florida shooting. he was surrounded by the 17 youngsters killed, including interpol at, the father who lost his daughter. he is with us next. and what would president reagan do during the 80s to protect american industries? the executive director of his foundation, the reagan foundation joins us that our 11:00 hour. just one free hearing test at
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us, relax, up 77 points on the dow industrial. 25,400. young brands have their dollars for their companies. they've introduced the skittles strawberry freeze. nicole, i'm inclined to say so. >> does that sound yummy to you? the parent of kfc taco bell with 711 here. what they are looking not if you can get the strawberry freeze. the markup for this doesn't cost that much to make it. they can make 50% to 85% margins on this. so that is why it's a big deal. that's why they're introducing the skittles strawberry freeze and they've had airheads, and mountain dew because it means money, money, money. stuart: i was pouring cold water on them because i did not hear about the profit margin on the strawberry freeze or whatever it's called. that's the story.
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>> 229 for regular, 259 for large. florida's governor rick scott finds the gun bill. they plan raises the age to buy a rifle from 18 to 21. and most bump stocks in teachers carry handguns. joining us now, enter napolitano, is it them in the park when shooting. it's good to have you on the show again. i have to ask you, the florida bill you are standing next to governor scott when he was announcing it. doesn't go far enough? are you satisfied? >> all the families are satisfied. we all came together unanimously and we spoke with the governor and we wanted the governor to sign this bill. i think it is really good for the state of florida and most the country in the right direction and protecting our kids. stuart: would you like to go further? and if you do, what more do you
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want? >> everything is perfect than that. you've got to stop saying on the teachers. that is doing a disservice to the people of florida. it's not about arming teachers. it is about giving trained qualified people to protect their children. i've been meeting with local teachers are not the word we should be spreading. not putting the teacher out there. professionals in the right places they would be in the right spot, so something happens like happen in parkland, they will make sure it doesn't happen. stuart: you are a strong trump supporter. have you spoken to the president about the florida bill and what did he say about it? >> well, the president came out with a safety bill. so he's listening. he is the first president to come out with the safety bill and i commend the president for stepping up and taking action
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for the interest of the people. and that is what we all want. we want our kids protected when they go to school. stuart: have you talked to other legislators in other states are governor is another state where teachers and other state so that other states might follow florida's example? >> that is my plan. i am just inhaling what we accomplished myself and all the families of florida and the lawmakers and the governor. i just got home, relaxing a couple days and that is my plan. my plan is to take this bill to every other governor in the country and put them on notice. i want them to be proactive. i don't want another family to go through what were going to win florida. stuart: is this your life, sir? >> for the moment i feel like i'm carrying the weight of everybody in the country that i feel an obligation to put every
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governor on notice and tell them listen, this could really happen. it happened to all of us in florida and we don't want it to happen to another family in another country. i'm going to have a bill very similar to the bill in florida that was passed and i will present it to everyone in every state, every governor and i'm going to put it on them, on their shoulders to do the right thing. stuart: you are quite a guy and we really appreciate your being on the show today and indeed we appreciate your efforts and what you are doing. you are the point man on this. andrew pollack, everyone. appreciate it. turning to a different subject. this came as a real surprise to me. england may boycott the world cup. several other countries may join them. ashley: possibly australia, japan, all about the attempted
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assassination in the u.k. about a week ago now. he was poisoned, and his daughter, with some form of nerve agent. u.k. government has not come out and pointed directly at russia as the state responsible for this, but clearly all signs are pointing in that direction. we understand british prime minister theresa may could very soon, maybe today go when and name russia is the main suspect. they are still alive, but the outrage that this will be carried out on british soil is such that one of the options is not to go to russia and protester was been carried out on british soil. stuart: how do we feel about that? i oppose the idea of boycott the major events because of political reasons. ashley: it happened before. stuart: a lot of people in the u.k. say don't do that come us keep it separate. if the windows and go to the world cup, they could be banned
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from the next world cup because they breached the rules. stuart: i just don't think you should do that. keep politics and sports separate issues. transfer is one of the options. i don't think it's going to happen, but it they are. stuart: we are up 100 points in the dow jones industrial average. 440 points on friday. 102 as of right now and 25 of the dow 30 arena green. coming up, president trump pardoning the dossier of the navy sailor who took photos of classified areas inside the submarine. what could this mean for hillary clinton? the judges with us next.
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well, it's earnings season once again. >>yeah. lot of tech companies are reporting today. and, how's it looking? >>i don't know. there's so many opinions out there, it's hard to make sense of it all. well, victor, do you have something for him? >>check this out. td ameritrade aggregates thousands of earnings estimates into a single data point. that way you can keep your eyes on the big picture. >>huh. feel better? >>much better. yeah, me too.
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wow, you really did a number on this thing. >>sorry about that. that's alright. i got a box of 'em. thousands of opinions. one estimate. the earnings tool from td ameritrade. there's nothing more important than your health. so if you're on medicare or will be soon, you may want more than parts a and b here's why. medicare only covers about 80% of your part b medical expenses. the rest is up to you. you might want to consider an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like any medicare supplement insurance plan, these help pick up some of what medicare doesn't pay. and, these plans let you choose any doctor or hospital that accepts medicare patients.
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whether you're on medicare now or turning 65 soon, it's a good time to get your ducks in a row. duck: quack! call to request your free decision guide now. because the time to think about tomorrow is today. stuart: the rally powers ahead this morning in the big-name tech stocks are doing very well indeed a thank you indeed. amazon new all-time high, 1600 bucks a share. microsoft also an all-time high. 96 and big change. apple is now at 181. i tell you, they are powering the rally. the navy sailor who took photos of classified areas inside the submarine. his reaction. roll tape.
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>> i made a mistake when i was a young kid is a misguided attempt to have some lament goes. they should've never reached the level it did and president trump saw that. they cleared kind by the department of justice under obama to use me as a scapegoat to take the heat off hillary clinton. stuart: how about that. coming right out with it. a scapegoat to protect hillary. >> here's what he did. he took some self is in the submarine behind him and made a magnification device to see it. with a sonar screen. this was no intentional effort to reveal classified secrets. extremely careless or grossly negligent, just as mrs. clinton was out of the mouth of jim comey. stuart: he went to prison for a year. >> he was convicted after he
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left for the navy. this wasn't a military prosecution. in federal court in connecticut bishop was closest to connecticut at the time it happened. spent a year in jail and donald trump did absolutely 100% the right thing. the effect of a pardon wipes it out completely. he can answer under us. he can say no because the pardon actually changes, but it should give mrs. clinton some sleepless nights. stuart: she did exactly the same thing. >> hundreds and hundreds of times over with top-secret material than you did need a magnifying glass to look at them. right there for anybody to read. stuart: she will never be convicted. and shall never go to prison. >> dataset to the president and jeff sessions. the evidence is there. i've been sent countless times on your show and others. take the evidence before a fresh
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set of eyes and let them bring it to a grand jury and see if they will indict. the evidence is overwhelming. this is a political decision. does the president want to indict criminally his former political adversary? is there too much fallout or should she get away with a crime of this magnitude because she's the president's former adversary? stuart: or should president trump pardon heard and? >> that would be an unbelievable political move to see if she objected. [laughter] stuart: you are having too much fun on a monday morning. president trump campaigning for rick saccone ahead of the election in pennsylvania. in case you missed it, he was unleashed for the president was on fire. top of the hour. here it goes.
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stuart: whoa, it was vintage trump, campaign trump, rally trump, over the top trump. the president went to pennsylvania and delivered a classic rouse the base, hour-long base in front of 5000 people. hundreds more could not get in. it was basically trump unleashed. if he used a script you couldn't tell. it was like the presidential campaign, sharp-edged attacks on political opponents. he repeated his nickname for senator warren, calling her pocahontas. he derided maxine waters as low i.q. he mocked the normal presidential style. if i came like a stiff you guys wouldn't be here tonight he said to rousing cheers. he was on a roll. why not? the administration delivered a blowout report on a economy, explosion of new jobs and 800,000 people came out of the woodwork to get back into the workforce. that is the highest number since the reagan days of 1983.
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as the president reminded the crowd his tax cuts and deregulation did that. by the way, did anyone see the democrats growth plan? it was published last week. raise taxes on the rich. raced tax rate on corporations. raise the death tax. bring back the alternative minimum tax. no wonder it didn't get much publicity. with the economy doing very well, that was an embarassment. in pennsylvania saturday night, the president turned into a local election into a referendum on his presidency. the vote tomorrow is all about him. he is taking a risk. how many people, voters support his prosperity plan versus how many voters dislike his style? no doubt where the president stands. he is going with trump unleashed and the economy unleashed. tomorrow night we'll find out where voters stand. the second hour of "varney & company" is about to begin.
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♪ >> do me a favor, get out on tuesday, vote for rick saccone and we can leave right now. come on. [applause] president for life? that sounds good. maybe we'll have to try it. president for life. [cheering] i'm joking. i love oprah to win. i love to beat opera. maxine waters very low i.q. individual. very presidential. ladies and gentleman, thank you for being here tonight, rick saccone will be be a great, great congressman. see that is easy, that is much easier than doing what i have to do. when we start running in, can you believe it, two years from now? it is going to be keep america great, exclamation point. stuart: those are just some of
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the highlights from president trump on saturday night in pennsylvania. we'll have more on that in just a moment. first let's get to the markets, monday morning, following a big rally last week. where are we now. 32 minutes in, 69 points higher on the dow. 25,400. those big tech names, you have to check them all the time, they have been making a running. as of right now, all of them are up. facebook, amazon, microsoft, alphabet, apple, all across the board. some of them hitting all-time record highs. the price of oil this morning around $61 a barrel. not a factor in the stock market. the 10-year treasury yield holding right there at 2.89%. that's interesting. if interest rates stay right there, there is room for this market to rally. as i said earlier, president trump's signature style, so far, at least on saturday night it, really worked for him. let's turn to "bar rescue" guy, host, that is, jon taffer.
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he is the author of the book, which i can not actually say on the air but i think you can read it. you get the point, do you not? ashley: i think so. stuart: what do you say? >> good morning. stuart: top of the hour. i said look, voters in pennsylvania got to choose between the trump style, how many of them really dislike that style, how many of them will vote for the president because of his policies. do you think he has gone overboard on the style thing? >> i'm not sure he has, stuart. being in reality television i understand the power of conflict, the power of tension. when there is conflict and tension there is cameras. when there is no conflict and tension there is less cameras. liz: true. >> this is man less emotional than we think and more purposeful than we think. i believe his tension and his conflict is more derived than reactionary. he is getting his message out by using the conflict as a magnet for the cameras.
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stuart: the country is intrigued at the trump show. you run a reality tv show, "bar rescue," and other tv shows i've seen them. that is what he deals. he is good, isn't he. >> he is a disruptor, he was elected as a disruptor and or in essence he is breaking a promise he made with america. we anticipate that action. stuart: he is taking a enormous risk, comes on strong at the rally in pennsylvania, all about me. if the republican candidate loses, trump loses, big risk. >> huge risk it goes back to the question that ronald reagan asked. is your life better today than it was four years ago? think of the families in michigan, north carolina, and florida, who have been postively impacted by trump policies. i believe that the wallet overcomes the way you feel about somebody very often. stuart: i will drink, i will say yes to that one. stay there, please. more from you later. get back to the markets.
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we're still in modest rally mode. i want to bring in dennis gartman, publisher, editor of the gartman letter. i have one expression, throw it out to you, dennis, happy days are here again, question mark, what say you? >> well happy days are indeed here. let's not kid ourselves. the economy is doing very well. it has been doing well for a while. it has been doing extremely well over course of last year-and-a-half. it will probably continue to do reasonably well going forward. interest rates may move higher but not dramatically so for next two, three, four years into the future. stocks are indeed breaking out to the upside. happy days are here again. i will argue that i wish that the president would calm down, would become more presidential. you like him the way he is. i find it a little embarrassing but the country seems to have applauded him. up goes stocks. up goes the economy. unless we do something is untoward, unless the federal reserve banks moves far too swiftly, unless there is some
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political inopportune circumstance that prevails overseas, we will continue. as the great stock market prognosticator in one of the best books ever written on the stocks market, reminiscent of the stock market, old turkey once said, this is a bull market. stuart: i read your stuff. i know you like the bank stocks. >> i would never say that in public if i were you. stuart: i just said it. have a large audience too. that is very public. i know you like bank stocks and you like financials but i want to move beyond that why don't you touch big tech? that is where the running has been. that is where all the money has been made. why don't you touch it? >> i don't understand it. i don't understand why amazon is considered to be a tech stock when all it really is a distribution company. i don't understand why netflix is considered to be a tech stock when it is nothing more than a movie company. i have a hard time, i get microsoft. that i understand. i get alphabet.
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that i understand. i get apple. that i understand. but why some of these stocks are considered to be tech stocks when they're really nothing more than distribution companies is beyond me. i -- stuart: taking over the future. these technology companies are into everything. whether it is the car companies. whether it is retailing, you name it, medical care for example. they're moving into everything, dominating a whole lot of turf and you know, most people if your stock market investor surely you should have a piece of this. >> bless everybody that has done it. they will have to go continuously without me. i much rather own small banks. i much rather own railroads. i much rather own steel manufacturers. maybe because i'm old guard. i want to own the things if i drop them on my foot they will hurt. i want to better understand industry than high-tech. in 40 years of doing this, find out what you think you are good
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at or are good at and what you don't understand try not to best do that. i don't understand tech. bless everybody who has done a good well with it. i bless them well in the future. they will continue to the upside, they will do so without me. stuart: this is incredible, dennis gartman, i am older than you. >> we found that out last week. stuart: we had a few emails on that one by the way. dennis, a pleasure, thank you very much for being with us this morning. see you real soon. that is a promise. >> thanks for having me on. stuart: now, oil company, saudi aramco, pushing back their public listing until next year at the earliest. this is a big deal, isn't it? liz: the yeah the hold up is where to list. the fight was over new york or london. aramco officials do not like the u.s. climate for litigation and liability. maybe london they pick for the 5% flotation valued at
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100 billion, biggest-ever ipo could be london. stuart: is that really the reason? liz: energy administers did. ashley: they live in london, any way. stuart: saudi arabia is in turmoil internally politically and the price of oil is hovering around 60 bucks a barrel. it ain't 100 bucks a barrel. liz: that's correct. stuart: if you buy into that ipo you're buying into the future price of oil more than anything else. liz: by the way there is a sidebar issue that is really important. did you see what iran said? they told opec to keep oil $60 to squash u.s. shale producers f the price goes down, doesn't give them return on investment to drill at 60. 65, 70. stuart: they acknowledged it is american frackers are the heroes of the hour? liz: that's correct. stuart: glad to hear that. it is march, heavens knows what, can't remember the date, march, something or other, 12th. march madness.
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68 teams in the ncaa tournament are set. number one sides are virginia, villanova, xavier and kansas. xavier. i should never read sports. give it to you, yes. ashley: xavier. stuart: by the way, the tournament tips off tomorrow. i think i got that right. ashley: yes. stuart: vice president pence reportedly asked joy behar to publicly apologize for her comments mocking his christian faith. she hasn't done it yet. does she need to? we'll ask the question. vladmir putin, i say he is in a terrible position. russia's faltering economy and misadventures overseas. he is blaming jewish people for interfering in our 2016 election. ♪ second hour of "varney & company," watch out. we're only just getting started, folks. ♪ prudential asked these couples:
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stuart: you know, just a few minutes ago we were up over 100. we'll take a gain of about 40 points. that is where we are now, 25,374. pretty even split between winners and losers among the dow 30. where is the price of gold? we should cover that more often i would think. we're down five bucks. $1318 per ounce. vladmir putin now claims the jewish people, among others are to blame for the meddling in our election. ralph peters is with us now. i say that russia is in a very weak position. putin is in a weak position. his economy is not doing well and his adventures overseas really not doing well either. he is saying this from a position of weakness. what say you? >> well i think vladmir putin does have weakness in the swamps
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he has gotten overseas and certainly on his border in ukraine. he has put his fiscal house in order although the economy is certainly not thriving but really what you saw on display with his remark about the jews and russian jews possibly being behind the attack on our elections was the famed russian, on display. putin is the quit essential russian nationalist. anti-semitism goes very, very deep in russia. it is consistent t was consistent under the czars and the soviets. the remember the czars secret police, they're the ones who popularized protocols of elders of zion, perhaps most successful propaganda work in history. stalin, a failed seminarians, persecuted jews right to his death. after stalin died they continue to persecute the jews.
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this is not shocking. this is the way it goes. right after the security services putin's strongest supporters are the russian orthodox church whose anti-semitism makes like the church of rome the anti-defamation league. this is the russia that appeals to the alt-right here and neofascists in europe. stuart: some of the actions putin has taken are blatant in the extreme. i'm referring specifically to the use of this nerve agent to put two double-agents i guess you call them in britain in critical condition. that's a blatant attack in a foreign country. i mean, can't get more blatant than that can you. sounds like something kim jong-un would do. >> indeed, exempt putin is in much stronger position. he is a global superpower of sorts but there is no -- let's get this straight there. is no way the russian security services would have launched that nerve gas attack on the
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former spy and his daughter in england, on english soil had it not been personally approved by vladmir putin. that is just the way it works. and putin is going to get away with it. prime minister may is going to have a press conference shortly. we'll see what she says. really what is britain going to do? we don't kill their retired agents. we don't do sass nations. there is only so much more you can do economically. putin gets away with it. make no mistake, the fact that our president will not criticize him by name ever abets vladmir putin's misadventures around the world. stuart: hmmm. you know we'll leave it at that, ralph. >> i thought you would. stuart: we'll leave it right there. ralph, thanks for joining us, sir. >> thank you. stuart: we're obliged to you. thank you very much indeed. jon taffer with me. you heard that, jon, ralph said look, there is no way president trump will ever criticize putin
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by name, period, what is your take on that? >> i think putin is blowfish. this is blowfish scenario of the as our economy goes up his goes down he has to pound his chest. he has to offset the imbalance economically becausing a agressive isness is expensive. military action is expensive. he doesn't have the dollars for physical aggression, so he is using verbal aggression, using political aggression. if we understand that game we can play him correctly. i'm not sure that trump is being baited into that type of an argument. he might be smarter than us all. see how it plays out. he was in korea. stuart: stay there, jon, please. an 18-year-old is suing dick's sporting good over the new goon sale policy. ashley: christian in battle creek, michigan, is fighting suit against dick's sporting goods. his father owns a firearm business. he tried to buy a shotgun, turned down because he is 18.
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dick's on february 28th said no one under the age of 28 can buy gun -- 18. one for dick's sporting goods to rescind the policy and two of the monetary. that is it is violation of larson civil rights act you can't base on the discrimination of religion and one of those is age. he is being discriminated because of his age. there you go. stuart: should you be able to have a drink at 18 if you can vote at 18. ashley: join the military. stuart: for heaven's sake, i think there is some gray areas here what you can and can not do at the age of 18. ashley: right. stuart: it will be up to the courts. ashley: yep. stuart: this one for you. the church of scientology launching its own tv network today. this will be aimed at recruiting new members, disputing what it calls false attacks. starts today. corona, releasing its first new beer, in what 30 years? beer sales are declining. will this compete with the growing popularity of wine and
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to deliver consistent network speed across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver. stuart: as we told you moments ago corona is going to roll out its first new drink in nearly three decades. it is called, corona premier, low-calorie beer marketed a more sophisticated brew. taffer still with us. why are beer sales declining in the first place? >> millenials are moving from beer to wine and wine to premier spirits. they're motivated by relevancy. they don't worry about legacy, historic brands. they want brands cool today. a premium beer attaches to their desire to feed in essence their own relevancy through premium
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products. so what beer is trying to do is offset the trend to premium spirits, premium wines by creating more premium beers. stuart: are you telling me that they will drink something which might not be a great product but they will drink it and buy it because they like the image of it? is that true? >> every day. stuart: really? >> so they will consume what are poorly reviewed boutique beers, poorly-reviewed wines, poorly-reviewed tequilas, because they are cool. they make them feel relevant. this is resid ya'll effect of social media. liz: give me pabst blue ribbon. >> pbr. stuart: by the way, i think your sixth season of "bar rescue" started last night. >> it did. stuart: i'm going to watch the season. what can i expect? i want to see you pound the table. >> i will pound the table this season, a whole new level. this season we have much more family dramas. deep partner dramas.
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and you know, the emotion of family business is powerful soft we address that a lot. ashley: i can tell. [laughter]. stuart: it is all about emotion. that is what it is all about. i love gold rush. i like life below zero. i like "bar rescue." i like "wicked tuna." liz: shameless. >> the struggle of human success is powerful thing. we want to see it take root to the end. stuart: there you go. president trump slamming nbc chucked to at his rally in pennsylvania. -- chuck todd. called him a name. what does he think about the president using nasty language against a fellow journalist. that guy will be on the show too, shenendoah guy. we're in the second half of the show. the beat tells will be next.
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♪ everything is working, working, just like it should ♪ ♪ stuart: tomorrow i miss you. ♪ stuart: when you got your name on the show you can do anything you like. sing along with the beatles if you want to. "all my lovin'." this was a classic in the 1960s when i was mere teenager. let's move on. check the big techs you have to. most of them higher except facebook, a fraction lower. amazon awfully close to $1600 a share. microsoft getting closer to 97. down a fraction now. alphabet, apple both up. apple $14 higher and that is
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trillion dollar company. at top of the hour, i was talking about mr. trump unleashed. here he is taking a shot at nbc's chuck todd. roll tape. >> it is 1999. i am on "meet the press," a show now headed by sleepy-eyes chuck todd. he is a sleeping son of a [bleep], i will tell you. [cheering] i should have run back then, right? huh? [cheering] i should have run back then! i would have done this earlier. stuart: well, what does howard kurtz, who is the author of that book, quote media madness, donald trump and the press and war over truth." what does howard kurtz say? you have a strange expression on your pace face, howard. i'm not quite sure how you feel about this. what do you think about the president saying that nasty stuff about chuck todd? >> i say good morning, first. i say that was mistake.
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that is undignified, punching down by name with sunday show host vulgarity you had to bleep, i played it on my air, i didn't bleep it. the president of the united states has every right to hit back against chuck todd if he thinks they reported something unfair or untrue but just to call names, tom brokaw got on the twitter and said very classy, explain that to your children. the irony here, as i reported in media madness, president trump had relationship with chuck todd. had them over to the white house for off the record sessions with the president yelling at chuck, chuck yelling back. they settle down to have a civil conversation. just to be cursing him i think is not a good look for the president. stuart: i want to talk to you about vice president mike pence is calling for a public apology from joy behar after she mocked his faith. should she go public with her apology? >> absolutely. i say she should publicly apologize. for people who haven't been
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following this, on the view, ultraliberal joy behar mocked pence's christian faith. she said it is okay to talk to jesus, when you hear jesus talk to you that is sort of like mental illness, thereby insulting the vice president of the united states but many, millions of christians who feel they do communicate with god or communicate with jesus. there is a huge flap over this. to her credit she did call the vice president. the call was arranged and apologized. she is television person. she said this on the air. how about apologizing publicly, not just to pence but to all the christians who were offended. stuart: the problem goes deeper than that, doesn't it? this is the "view" and it is run by abc news. "the view" is very much an opinion show. basically four very liberal women, maybe one middle of the road person, maybe one conservative, but why is it run by abc news and not by the entertainment division of abc? >> that's a good question.
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meghan mccain i think does a good job on the show as token conservative. when barbara walters ran the show i think, obviously it is an opinionated show. it always kind of leaned left. it had a different tone. in the trump era, this helps explain it, trump-pence era, these entertainment types, joy behar is comedian, she hides behind that when she says something insulting feel more free to rip these duly-elected officials but where she went way over the line, she doesn't like trump, we get it, to insult the religion of many people who have a feel they have personal relationship with jesus. say it on the air. get it over with. be a grown-up, say you were sorry, you shouldn't have said it. stuart: i want to go back to the president's speech in pennsylvania saturday night t was a barnstorming campaign-style speech, no-holds-barred. do you think that the president is making a mistake by going,
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not just with chuck todd, but with, do you think it's a mistake to pile it on the way he does, the language he uses, insults throws out? a mistake? >> yeah he took a shot at peggy noonan as well. this plays so well with the base. the crowd loved it. trump supporters watching at home love it. it doesn't help him expand his base. it is the reason he is struggling in the polls. beating up on the press, when warranted is fine. the president has first amendment rights but when he does it, scattershot, look at all the fake media people, using term fake news, i don't think it helps him win over moderates and independents would want to give the president a chance but feel he is being a bit too vulgar as he clearly was. stuart: look, i think we'll find out tomorrow night when we get the results of the pennsylvania election. he is running on that kind of persona, if you like. last word? >> didn't mention the guy who is running saccone very often.
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donald trump rallies are about donald trump. stuart: it is the trump show. >> we'll see what happens in pennsylvania 18. stuart: howard, thanks as always for joining us. see you soon. >> thank you, by the way, look at bottom right-hand corner of your screen. we almost lost the rally. we were up 100 points at one stage. now we're up just four points. now the author is with us, the guy who wrote this book. the title caught our attention, it is called the end of europe, dictators, demagogues and the coming dark age. the author is james kirchick. he is a fellow at the brookings institution. james, i thought it was angela merkel who ruined or changed europe forever when she opened the door for well over a million migrants. i think that opened the door to end of europe in many ways. do you agree with me? >> i wouldn't go that far a lot of people in germany, even the
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chancellor regret that it has done it. look at effect on european politics, even if you support bringing all the migrants into europe, look at effect, first time in 60 years there is a far right party in the german. it is second most popular party. look at italian elections over last week. over 50% of people voting virulently, anti-immigrant, far right parties. you look worse and worse across the european continent. this is bringing to power unsavory political forces. people far beyond the pale. this was an unintended consequence. i think the chancellor had good intentions. she was trying to be a humanitarian, but there were other considerations that needed to be taken into account. the effect this had on domestic european politics has been pretty bad. stuart: regardless of the reason for it, the premises of your book is, that europe is falling to pieces and it's a new dark age that is coming.
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so what do you, what is the reason to you? >> well, it is not just the problems with very large numbers muslim migrants coming to europe. it is also the effect that the russians are having. you look at effect there war going on european continent. there is an actual bloody war going on in ukraine. it killed over 10,000 people. it is the first annexation of territory on the european continent by force since world war ii. the economic situation has not improved. look at unemployment mediterranean country, particularly youth unemployment, italy and spain, it is as high as 40%. the rise of illiberal democracy in places like hungary and poland. the return of anti-semitism, violent murderous anti-semitism. and perhaps even the collapse of the european union itself with "brexit." regardless what you think about it, it was, it was never expected that a country would actually want to leave the european union. stuart: look, i wish we had more
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time because i would like to bring up the whole idea of european socialism, which i think is -- you're laughing. you're from the brookings institution. >> no i agree with you. stuart: another reason why europe can not keep going the way its going, european social itch. it just doesn't work. james, please come back. i think the premise of your book is a fine thing and i want to discuss it more. >> anytime. stuart: thanks, everyone. let's go to a totally different subject, netflix. look at that stock, 325. it is testing collectibles for kids as a reward for watching netflix? ashley: netflix loves binge watchers, old and young. doesn't matter as long as you keep watching. incentivizing kids to keep watching getting collectible badges that appear on certain programs. you watch it for a while, a little red padlock unlocks. you get the badge, trade it and swap it with other kids.
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it is making you watch certain programs through to the very end. stuart: is it a real badge you sell on to your coat -- ashley: digital. stuart: digital badge. >> you can trade them with other people. want the next badge, almost like an eagle scout. you want the next badge to collect it. it is based on the disney model of their collectible buttons. ashley: exactly right. >> you collect them. you trade them. they're of great value. ashley: do you remember getting toys in the corn flakes packets and cereal boxes you used to love that kind of a modern-day version to that. stuart: when do we encourage children to watch more television. ashley: parents are upset, how do we pull them away from the screens? my answer to that? turn it off! stuart: how much control do you think -- ashley: i'm living in la-la land. >> just another kind of content. ashley: you're absolutely right. stuart: simulation, keep watching, keep watching. liz: i love the thrilling conversation, debate about this. stuart: all right. >> you want one, don't you?
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liz: no. stuart: look at this. the dow turned around. a few minutes ago we were up. now we're down 18 points. in the space of one hour and ten minutes we were up over 100. now we're down 18. we have apple trying to take on google and amazon with the homepod. here we go again. our next guest says it may be too late. he thinks the amazon echo is the most influential tech device since the iphone. i think we're going to be in agreement there. and we'll be back.
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ashley: 800,000 people will join the labor force in february. the last hour james freeman told us why that number is such a big deal. roll the tape. >> this is what we've been waiting for, is for people maybe discouraged in the obama years, leaving the labor force coming back into the job force. a lot of obama economic advisors. this can't happen anymore, new normal, secular stagnation, the u.s. can't grow the way it used to. now we're seeing a huge growth. it is really hard to find anything wrong with this report but it is the number of the week because 800,000 people coming into the labor force, biggest since 1983. that was year one of the great reagan boom. ♪ more and more people have discovered something stronger...
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solomon would be next in line to lloyd blankfein. blankfein says he is not going anywhere despite reports to the contrary. bose unveiling a pair of shades of sunglasses at south by southwest. you can see them right there. you can see and hear your surroundings? liz: it is kind of cool. if you see it, those are speakers that sit near your ear. it will not change your vision. it will be what you hear via gps phone connect to your glasses. you get yelp restaurant reviews, directions, trip advisor. it will play music too. so this is an interesting twist on augmented reality glasses. the ones we saw from google, google glass, looked geeky. stuart: you think you might hear voices? i wear the ifb so people talk it me in my head. >> what it is not in my ear, i
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still hear them. wearable technology is the future. carrying cell phones is going to disappear. liz: no price for that. we don't know how much it will cost. it is throughout the summer. stuart: listen to this one. success of the amazon echo could mean it is time to crown a new titan of tech. stern professor of the business, scott galloway, frequent guest, all around good guy despite his socialist past is with us this morning. how are you, lad. >> i'm great, stuart. stuart: i think you and i are in agreement because i think these homepods, whether google, amazon or apple, i think that is the most important and influential technological development since the iphone. i think you agree with me on this? >> yeah, as a matter of fact i think the baton has been passed. this item here, the iphone reshuffled a couple trillion dollars in stakeholder value. i think the baton has been passed to the new technology, the most disruptive technology for the next decade, that is
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voice. think about all the decision, the purchase decisions, the media decisions you make in your home. it is only place you're not again carrying this around. what would be easier than to just say your request and it is voice. voice is the new battleground. one company has 70% share, amazon. stuart: by the way, you probably can't see it, scott, on the left-hand side of the screen we have amazon's stock and it is awfully close to $1600 a share as we speak. let me go back to the homepod devices. voice is the big deal. show me where we're going with this. are we going to have a real personal computer at your service 24/7, does what you want it to do, communicates with everybody through the homepod? is that it? >> well i think that is the vision but imagine everything your phone and your computer does right now except you use voice. a third of all computing. whether right now, used mostly for pretty basic tasks, whether
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turning on the lights or fun trivia questions but it is clearly headed towards controlling your media preferences and kind of the raider of the lost arc -- ark the portal you order items through e-commerce. the scary thing about voice and one of the reasons it is so powerful with amazon, the consumer is not blessed with site. if you go on amazon, you type in batteries, you see several brands. when you say alexa, put batteries in my cart, they put basics which is their own private brand in their cart. it is a huge advantage to the person that owns the voice. you're seeing the mother of all death matches between siri and amazon and google's voice. whoever controls voice will control a quarter of all computing and that computing will be more valuable because
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consumers won't have a screen to check out other options. stuart: do you think this is sinister? i think about a 1984, computer that looks at you, talks at you. i find that a little troubling. do you? >> i don't. these companies don't want to do anything to raise the hackles of regulators. i don't think they're malicious. i don't think they are trying to listen in and do anything nefarious however what we have seen in spades these companies are not motivated to put in place the proper safeguards to make sure the technologies are not weaponized by bad actors other than the companies themselves. that is the scary part. it is not amazon listening in. it is someone who owe co-ops the technology and starts listening in. stuart: exactly right. scott, i don't know how on earth you and i can agree on anything. but on this we're in agreement. unbelievable. you're in florida or something, is that where you are? where are you?
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>> that's correct. stuart: florida. take a vacation. ashley: low taxes. stuart: see you later, scott. low taxes. even socialists -- that is what he is doing. elon musk says spacex will be ready to send rockets to mars next year. we'll go to live to south by southwest where musk made i guess the surprise announcement, i guess. the dow is down a point. ♪
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because the time to think about tomorrow is today. stuart: big announcement by elon musk. he is sending spaceships towards mars next year. this is intriguing. the showman himself. hillary vaughn, live in austin, texas. what is he up to, hillary? reporter: hey, stuart. he might be a little overly optimistic about the timeline, he admits that. he says his company is on track. spacex vr rocket system is capable of interplanetary travel and totally reusable. one flight is $6 million. that is cheaper than the falcon one flights but very candid elon musk in a surprise q&a at south by southwest they will be able to do short flights next year. he is more pioneer he says than
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businessman. the whole idea of spacex was to boost nasa's budget. he says once he has proof it is profitable he thinks they will be able to get more companies on board. stuart. stuart: hillary, we hear you. by the way the stock of tesla is up 12 bucks, reaching 340 right now. i'm out of time. i do want to thank jon taffer with us for the hour. he has a great book and sixth season of "bar rescue" on tap. >> going for it. stuart: a pleasure having you on the show. i will not name the book and it is title. don't. president trump, he heads to the belly of the beast. that would be california. next week. my take on that. next. ♪ copd makes it hard to breathe.
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stuart: okay. now i'm going to do a my take. i'm going to give you an editorial. president trump dominates the news, and he'll do it again this week. it's going to be another very big trump week. the president is going right at his political opponents. he feels he's got an edge, that things are beginning to go his way, and he is going to exploit it. tomorrow he goes to the belly of the beast, that would be california. he will inspect prototypes of the wall. it's more than an inspection tour, it's a direct challenge to the trump resistance movement which is headquartered in california. you have to laugh. the fresno bee reports that there will be a protest by the group trump not welcome in l.a. held in beverly hills. ah, the coastal elites. will the protesters wave mexican flags as they did in the past? if the left has any sense, it
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would tell hollywood to be quiet. after california the president goes on to missouri. again, he's taking the fight straight to his political opponents. now, missouri is a trump state, but its democrat senator, claire mccaskill, is up for re-election, and she is vulnerable. a recent poll shows her losing against a generic republican. mr. trump is piling on the pressure. and tomorrow, obvious, it is the special election in pennsylvania. the president has already been there with a rousing campaign-style speech saturday night. as we said earlier, it was trump unleashed. his personality, his demeanor, his style and his growth plan, he went right at the media and prominent liberal democrats. one person shouted out, and you can hear it clearly on the tape, you're one of us. mr. trump is confident that his policies are working and his style is popular. it is a big week for this presidency. the third hour of "varney & company" is about to gun. is about to begin.
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♪ stuart: all right. you heard my take top of the hour there. the president, that man right there, he's going to the belly of the beast tomorrow. that would be california. joining us now is california congressman dana rohrabacher. congressman, he's going right at you in california, isn't he? >> well, he's going to get a great reception from a good number of californians who are very upset about the direction of our state. we don't want our state to become a sanctuary state. already we have a massive flow of illegal immigrants coming into our state and undermining our safety of our neighborhoods and draining our public resources for education and health care. so we're all -- [laughter] there's a lot of people that are going to be cheering the president for coming here not only making america great again,
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but trying to make california great again. stuart: congressman, i want to show you and our viewers a short item of video. it shows a woman being arrested. now, she is suspected of running a criminal illegal immigrant smuggling ring, but because she was with her children the left are calling this arrest inhumane and cruel. roll that tape, please. [background sounds] [inaudible conversations] stuart: now, congressman, what do you make of this? the left is saying, look, that's clearly inhumane, utterly wrong, she had her children with her, and you say what? >> well, let me just note we care about children throughout the world. and we care about the children of illegal immigrants as well. but what we must do is
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discipline ourselves to know that our first responsibility is to our own children. americans are made up of every race, every religion and every ethnic group. but we're part of the american family, and it is the american children who are being hurt the most by this flow of illegals. and when you let the situation just go because someone's got children or whatever, you have a massive new flow of illegals here undermining the quality of life of our own children, undermining their education, the health care that's available to them. no, we have to be concerned about american children. our veterans don't even have the money necessary to take care of their own health care needs, and we're going to give to it a family who's come here illegally from another country, wherever that is? i do care about those children, but i can't -- but i have to first care about the well-being of the american people. stuart: do you think that in my lifetime -- i don't know how many years that is, but in my
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lifetime do you think we will ever see a republican elected to statewide office in the state of california? >> well, if you've got people like president trump coming out here and, you know, without any inhibitions saying the right thing, telling the truth, yes, i believe truth will prevail. and what's already happened is in our lifetime we've seen the policies of liberal democrats bring down -- from the time when ronald reagan was president when we had the highest quality of life in the whole nation, people came here to live in california. and since then the democrats have actually brought us down. our education level is the lowest now. we pay more for education and get the worst results of any state in the union. yeah, once the american people, once the people of california understand they're being brought down by this liberalism and that president trump is trying to bring back our whole country including california, yeah, i
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think we could elect some people statewide once that becomes very clear to the public. stuart: dana rohrabacher, a pleasure. thanks very much for being with us, sir. we appreciate it, yes, sir. >> all right. stuart: we've got a reversal in the market. we were up 100 points, now we're down 90 points. there are more losers among the dow 30 than there are winners. big tech stocks, now four of them earlier hit all-time highs. but most of them have now pulled back, although we do have amazon awfully close to $1600 per share. scott martin, kings view asset management and fox news contributor, welcome to the show. now, are you still -- you've always been relatively bullish on the big name it can stocks. you've followed them up for the last 18 months. are you still a believer they're going higher? >> i am, stuart, and i hope the viewers aren't getting tired of this broken record, but it's a
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broken record that's working. i still like these stocks. yes, you mentioned the price of amazon, we talked about the price of apple last week. things are getting a little lofty. let's say on a scale of 1-10 they're about a 6 out of 10 as far as value. so, yeah, i would put more money to work here, but don't hesitate to use periods like we talked about back in february which was just about a month or so ago when we get volatility, you get a pullback in some of these stocks like facebook and apple, that's when you've got to add to these names. stuart: you know, we focus on amazon so much, and the thing is up again today, nearly $1600 a share. we had a business professor on the program a few minutes ago who said, look, these home pods, these home computer speakers whether it's the amazon product, the google product or the apple product, this is the big challenge in technology to the iphone. the most important development in technology to the iphone. and amazon has a huge share in
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this home speaker market. i can understand why amazon keeps on going up to these lofty levels. can you? >> me too. and i loved that interview. i thought that was really insightful. and some really good points were made there. alexa's awesome. my kids use her every morning to play songs, ask what the weather is. you guys mentioned about putting batteries in your shopping court through alexa, and then you have google home which is kind of a competitor but not as much market share, and at the bottom of the barrel you've got siri, i still use -- one of the only people i know. but siri doesn't understand me more than 50% of the time, so it's a pain in the butt to kind of work with her. i agree with you, the voice direction is important, but it's also the execution of what that voice does for you, and amazon is running away with it so far. stuart: one quick one on bitcoin. i've seen a study which attempts to link bitcoin and the overall
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stock market. when bitcoin goes down, that's a signal that the overall stock market is going to go down. do you see that linkage? >> i really don't, stuart. we did have some linkage for a few weeks in december and parts of january, but the sample period is really small. to me, bitcoin is kind of on its own. it's certainly turning into a biddy situation, we have not owned it for many months, and i would stay away from it because i believe the price is going to continue to come down. stuart: okay, we shall see. scott, thanks for joining us, sir. we'll see you again soon. now, the trump administration has told the state of iowa you can't drop obamacare. the state must follow the existing health care law. idaho was going to let insurers offer plans that do not meet obamacare rules like forgetting about protection for pre-existing conditions or mandated benefits. health officials say while the law is still on the books, it must be enforced. that's a big no to idaho.
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>> yeah. stuart: individual stocks making news as the market falls. look at that, we're down 112 points right now. goldman sachs, all-time high. president harvey schwartz will retire, david solomon will serve as sole president and chief operating officer, and goldman's now up $1.58. another dow component, microsoft, that hit an all-time high earlier. well above -- actually, almost at $97 a share. it's pulled way back from there as we speak. now back to 96.25 which is still awfully high for that stock which i own a little of. jam-packed hour ahead for you. very soon we'll be joined by this young lady. now, she's an honor student. she's decided to skip college to go to a trade school. she'll join us later this hour. martin shkreli cried in court as he was sentenced to seven years in prison for securities fraud. we've got some questions here. did the judge make an example of him? and did shkreli's behavior and
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attitude have anything to do with the judge's sentence? our own judge napolitano coming up. here's a question for you: what would reagan do when it comes to tariffs? in the '80s he used them to protect american industries under attack. for example, he helped harley davidson. stay right there, the thursday hour of "varney & company," we've begun. ♪ ♪ we had long deployments in iraq. i'm really grateful that usaa was able to take care of my family while i was overseas serving. it was my very first car accident. we were hit from behind. i called usaa and the first thing they asked was 'are you ok?' they always thank you for your service, which is nice because as a spouse you serve too. we're the hayles and we're usaa members for life. see how much you could save with usaa
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one example, harvey davidson. -- harley davidson. it survived an onslaught of cheap asian motorcycles which were then flooding the market. joining us now, the author of "the shroud conspiracy." 9 first of all, john, i don't think that president reagan put up tariffs to protect harley davidson. didn't he subsidize harley davidson? there's a difference here. >> yeah. actually, stuart, the president put up voluntary restraints for things like steel. that was a massive measure. but on the harley davidson front, it was actually a 45% tariff on bikes that were 700 ccs or smaller. it was specifically to go after, essentially, the japanese dumping onto the u.s. market smaller motorcycles. and i'd say, you know, what he was successful in doing was buying harley davidson time for their management to get their act together and adjust to the marketplace. stuart: can you extrapolate from that and say fast forward to today that ronald reagan would
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have approved of president trump's proposed tariffs on steel and aluminum? >> you know, stuart, that's a tough one because reagan, at heart, was truly a free-trader. on balance, he was all about free trade. he's the guy that put in place the u.s./qanta free trade -- canada free trade agreement, that became nafta, he put in place the caribbean basin initiative, the uruguayround. reagan was behind all that. but at times there were very specific measures; steel, smaller japanese cars, motorcycles. he felt that the u.s. was being treated unfairly, and as a result he had his negotiators negotiate agreements to, essentially, buy american industry the time to get their own act back together. stuart: do you think that president reagan would have approved of the way president trump conducts himself in office with his brash talk, his tweets? i know that tweets weren't around back in the 1980, but he's a tough-talking president,
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and he's right out there insulting his opponents. would president reagan have approved of that? >> well, stuart, i'd say you probably couldn't find two men more different with respect to their character, their personality and their style. ronald reagan was a gentleman, just a radically different style. but i have to say with respect to actually implementing policies, president trump's policies in many respects have been taking pages right out of the reagan playbook. and whether it's a stronger defense or tax reform or fewer regulations, their policies line up a great deal. it's just that their style's radically different. stuart: that's very true, isn't it? we make a judgment on president trump's style. a lot of people don't like it. and the other judgment is that a lot of people like his policies. i suspect with ronald reagan people liked him, and they eventually liked his policies too. that an accurate description? >> i think that's well put, stuart. he's, he was a master
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communicator. you know, a big difference between he and president trump is in the reagan administration everything the announcements whether it was regarding tariffs or anything else was really highly orchestrated, smart, effective communication strategies put in place to get people behind the president. and as you say in president trump's case now, it seems like it's strategy by tweet, and that takes a lot of people by surprise. that wasn't the case in the reagan administration. stuart: got it. thanks for joining us, john. much obliged, indeed. >> happy to be with you. stuart: president trump's offshore drilling could -- could, repeat -- add $5 billion to the economy in two decades. offshore drilling in the atlantic brings in an extra $250 billion. that is a very contentious series of numbers, is it not? >> yes, it is. stuart: intel may be interested in broadcom.
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intel's stock is down at this point, but look at broadcom. if there's a bidding war for it, the stock is, indeed, moving higher to reflect that. boeing, that stock taking -- look at broadcom, see? there it is. up nearly 3% there. and boeing's taking it on the chin, down $9. that accounts for about 50 down dow points. and, by the way, we do have a change in direction for the overall market. the dow is now down, as you can see in the bottom right-hand corner, down 126 points. so in the space of less than two hours, we've had about a 250-point swing in the value of the dow. check this out. hidden valley, maker of the popular ranch dressing, unveiled a jewel-encrusted bottle covered in diamonds and sapphires. [laughter] what, salad dressing? [laughter] this was created because of the upcoming wedding of prince harry and meghan markle. can you guess how much it costs? we, of course, will be telling
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you. [laughter] check out this, an extravagant mansion on long island, originally priced after the -- designed, i should say, after the palace of versailles. hits the market this week. can you take a wild guess? yeah, we're in that business too. we're going to tell you a lot. check those market, we're down 120 points on the dow. 25,200. back in a moment. >> i said -- [inaudible] ♪ ♪ you know what they say about the early bird...
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stuart: we asked you before the break hw much does this cost, looks like the palace of versailles. the answer is $60 million. >> unbelievable. stuart: it's on the north shore of long island. 8.4 acres, eight bedrooms, fifteen bathrooms, grand ballroom -- >> if you're going to have a ballroom, it's got to be grand. stuart: hidden valley unveil ared its jewel-encrusted salad dressing bottle. $35,000. studded with diamonds and sapphires. you can win it by retweeting hidden valley's post about it between now and may the 19th if you really want a
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jewel-encrusted salad bottle. >> who doesn't? [laughter] stuart: now, these things look like ordinary ear buds, but they can translate languages in realtime. they play music, they take phone calls. the buds come with an app. you wear one bud, and the person you're speaking with wears the other, and a translation occurs between the two. >> ah. stuart: got it? want one. dea agents seize $6 million in cash, hundreds of pounds of trucks and indicted 75 people all across the country, 40 in san diego. huge drug operation and the biggest money laundering operation ever in that city. how about that? and now this, marty rayburn, he overcame alcoholism. he overcame addiction. he's on the show today, and he's going to tell us how he did that. nation of islam leader louis farrakhan making more anti-semitic comments. now the republican jewish coalition is calling on some
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democrats to resign because of their alleged ties to farrakhan. we've got that story for you, promise. and listen to this, this i can't believe. arnold schwarzenegger announced he's going to sue oil companies, quote, for knowingly killing people all over the world. you'll get more "varney" if you're not careful after this. ♪ ♪
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the platform, price and service that gives you the edge you need. looks like we have a couple seconds left. let's do some card twirling twirling cards e*trade. the original place to invest online. stuart: and we're down some more, rightw we are down 151 points on the dow industrials. we're back to 25,185. the selloff began about a half hour ago, and it continues. shares of the chipmaker micron, that's a 17-year high. its target price is $100 a share, it's now at 58, up about 8%. now, there's a rally. next case, louis farrakhan sparked controversy after his anti-semitic speech last month. well, now the republican jewish coalition calling on seven congressional black caucus members on your screen right now to resign because of their
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alleged ties to farrakhan. doug schoen with us, he's a former clinton pollster, fox news contributor and still a democrat. >> yes, sir. [laughter] stuart: democrats have got a problem here. >> they do. stuart: that is a big problem. >> look, i think what they should do is denounce farrakhan this no uncertain terms, denounce the speech. i don't know, necessarily think they have to resign, but if they fail to distance themselves from somebody who preaches hate and anti-semitism, they don't really deserve to wear the man tell of leaders -- mantel of leaders. stuart: they're not going to denounce him. there's a picture of president obama way back when, nearly ten years ark with farrakhan. >> right. and keith ellison, who's the vice chairman and was supported by chuck schumer. look, it's very disquieting to me the democrat party has moved away, stuart, from its historic ties and support of israel, they're for a balanced approach which is code language for being
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pro-palestinian. look, i'm very discouraged. you know, you ask me jokingly each time i'm here, am i still a democrat, this kind of stuff makes it tougher and tougher to be a democrat. stuart: it seemed like things are -- your party has completely left you behind. >> they did. stuart: look, you're a john kennedy democrat. >> i am, i am. stuart: you want growth in the economy, you want a strong military, want strong national defense. >> couldn't say it better myself. la. -- [laughter] stuart: your party's leaving you behind. >> they have one asset now. stuart: what's that? >> the republicans. and i think you'll see a very close race in pennsylvania in this special election. i think connor lamb has a good chance of winning. and i think it's going to be a real chance to pick up seats if not win the house if -- only because of the failures mostly of the house and senate republicans to get much done. stuart: well, wait a second. the president heads to missouri
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later on this week. he's going directly after claire mccaskill who is a democrat senator from missouri. >> yes. stuart: missouri is a trump state. he's going right out there to pressure her. >> that's true. stuart: he could pick up -- the republicans could pick up that seat. >> they could. look, we've got a long way to go. senate elections tend to be more independent of national trends, more reliant on the money spent. stuart: you said, look, the big thing that the democrats have got going for them is the republicans. >> correct. stuart: you mean trump. you think that is a democrat asset. but i'm telling you, a lot of people like the way he comes on as president, and they really like his policies. >> what i said was that it was the house and senate republican leaders that were their problem and their failure to get things done. the president's about 20-30 points more popular than mcconnell and paul ryan. and failure to do health care just only having done taxes gives the democrats an opening. and candidly, if the president
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stuck to his policies and was able to restrain some of the more extraneous tweets and arguments, i think the republicans and he would do better. stuart: yet again doug schoen on a very thin reed out there, i suspect. >> i think i'm speaking truth to power. stuart: ooh, nice one there. >> thank you. stuart: schoen, you're out of here. [laughter] you'll come back. >> i will. stuart: all right. our next guest, this is a great guest. he's a country music singer with the band shenandoah, and he has overcome addiction. that's why he's on the show. when he's not touring, he spends his time visiting prisons as a pastor to inmates. marty raybo is with us, and he's with that band, have i got that right? >> yes. stuart: you've overcome alcoholism, didn't you? >> yes, sir, i did. stuart: take me through it. how long did it take you had a problem drinking? >> well, you know, it's just one of those kind of things where
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fun becomes habit x. in the early days of playing music and drinking i, you know, would tend to make a little bit more habit than what should have been. before it was all over, it became a problem. it was never a problem for me during the time. because, you know, at that time you don't -- stuart: did you spiral down? did you hit a low with the drinking? >> you know, to be honest with you, in some ways i did and in some ways i didn't. as far as the career with the group shenandoah, you couldn't literally ask for anything better that was going on in our career. i mean, we were coming off five consecutive number one records. but the thing about it was i've literally -- i've been under conviction. i'm a man of faith. i truly believe that the providence of god intervened in my life. stuart: wait a second, that's what did it, you hit a low of some sort, you realized you had a habit, and you turned to god? >> well, yeah. i'd literally been running from
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god because of the conviction that i felt. because, look, i knew what i was doing wasn't right, and i knew what i was doing wasn't, you know, wasn't the way to be a father, nor a husband. stuart: o.k. >> or to be anybody that wants to be prominent in the music business. stuart: did you -- you quit all of a sudden, is that correct? >> i stopped smoking and i quit drinking all on the same day. stuart: did you go to alcoholics anonymous? >> no, i did not. stuart: you simply relied on your faith in god, and that's what took you through. >> yes, sir. stuart: how many years ago? >> well, that was march the 15th, 1991, when i asked the lord to come into my heart. but i want to say something to you real quick. my father cast a big shadow in my life. he taught me how to lay block and brick. i learned a trade from him. my daddy was a musician. i learned how to play music from my daddy. he literally taught me how to love music. so there wasn't anywhere, any avenue in my life that i couldn't go to that my daddy didn't cast a shad toe in it.
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my daddy died in 2005, and in 2005 i went through an extremely terrible time of depression. i didn't recognize it as depression. my wife did, i didn't. she told me i needed to get help for that. so with knowing what i knew about the lord and the relationship that i'd had with him, what i did, stuart, i went the wrong way. at the advice that i'd given to other people, i literally went the other way. and that lasted for about five years, and then i came to the same place that i was, and i cried out to the lord and said, lord, look, i can't. i can't do this anymore. stuart: when did you quit? >> that was 2005, and then i quit in 2009. stuart: so in 2009 you quit, and you've not been back. >> no, sir. i've not touched -- nor have i wanted one either. stuart: ah. so you've not been tempted either. >> no, no, sir, i have not. stuart: that's a great story, sir. we appreciate you being on the show. shenandoah's new album,
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"reloaded" -- >> which has nothing to do with alcohol, by the way. [laughter] stuart: i wasn't going to ask. congratulations, young man. >> yes, sir. that comes out friday, on the 16th. we're tickled about it. stuart: and aye got my free copy right here. >> yes, sir, you do. thank you for having me. stuart: yes, sir. now this, totally different subject. martin cellly got seven years -- shkreli got seven years in prison. judge napolitano is here with us now. a, did the judge make an example of him; b, did the judge sort of bear in mind his behavior in court previously? >> you know, if sentenced -- i've sentenced over a thousand people in my career -- stuart: you have? >> yes. and there is a checklist, aggravating factors and mitigating factors. it's not just a gut reaction on the judge's part. there's about 20 or 30 different aggravating and about 20 or 30 different mitigating. you not only have that, you have federal guidelines. so it's mathematical, but it's also subjective. take that against the fact that
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the victims of his fraud testified for him, and they testified not only did they not lose money, they made money. whereupon the judge instructed the jury, well, if a fraudster pays back the victim, that doesn't undo the fraud. so the government says the fraud was over $20 million, the victims say there was no fraud, we were paid back. that's what this judge is confronted with. should the judge have taken into account his ab meant behavior with the pharma bro stuff? absolutely. no had nothing to do with this case. he shouldn't have gotten any jail time. instead, he got seven years because he's a jerk. and you don't sentence people for being jerks. stuart: that's what -- >> you have a constitutional right to be a jerk. stuart: that's what happened, right? >> yes. stuart: i've got to bring up arnold schwarzenegger. he's suing -- he announced at the south by southwest festival, he announced he's suing oil companies because they knowingly
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kill people all over the world. suing the oil companies, global warming, climate. come on. what's your response? >> i'm surprised he's wasting his time, and i don't know where he can find the lawyers to do it. first of all, i guess this is a class action. secondly, the proofs would be merely impossible -- nearly impossible. stuart: he's from california, he maybe wants to get back -- stuart: i thought he was once the republican governor of california. stuart: he was. >> in fact, he may be the last republican governor of california. [laughter] stuart: you're so right, judge. you got it right again. coming up, we're going to be joined by this young lady. there she is, raylee nicholson. she's an honor student. she's decided, ah, i'm going to skip college. i'm going straight to trade school. let's see about that, because she's on the show. interesting. president trump heads to california tomorrow. i say he won't be greeted with open arms. he's going the belly of the beast, let's face it. up next, the rnc national committeeman from california, sean steele, will be here.
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and more from the formerly golden state, the cost of the bullet train connecting l.a. and san francisco rising yet again. you won't believe how much now. you probably will. and coming up soon, drones could start delivering packages within a couple of months. how about that? that story 90 seconds from now. ♪ ♪
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♪ ♪ >> i'm nicole petallides with your fox business brief. get your package fast right to your home delivered by drones. well, we've heard a lot about this idea, but it turns out it could be sooner than later. in fact, at least ten faa-approved pilot programs that include the drone initiative are slated to start by may. how many people would probably use this? turns out about 50% would certainly or probably use it. this is according to public sentiment. and what would be delivered? your pharmaceuticals, your medicine, consumer goods, food and beverage, fresh food. drones can travel up to 100 miles per hour, deliver packages five pounds or less, and it can save these companies -- amazon, ups, alphabet -- millions and millions of dollars. ♪ ♪ for mom,
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these are local, expert advisors that will partner with you to find the perfect place and determine the right level of care. whether that's just a helping hand or fulltime memory care. best of all it's a free service. there's never any cost to you. senior living has never been better. and there's never been an easier way to get great advice. call today. a place for mom. you know your family. we know senior living. a place for mom. you know your family. we know senior living. together we'll make the right choice. stuart: elon musk says he could send spaceship toss mars by the first half of next year. spacex, he's the founder, aims for finish is sending a cargo mission to mars by 2020. ultimately, what they want to do is lay the groundwork for a human colony there. musk grabbing the headlines again. the cost of the california bullet train, wait for it, now it's $77 billion.
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it would, if it's ever built, connect los angeles and san francisco. this $77 billion is up $13 billion from the projection just a couple of years ago. the earliest these trains will operate is 2029. good luck with that. and that, by the way, is four years later than previously projected. not in my lifetime. [laughter] >> right. stuart: staying in california, look, i say a republican cannot win statewide office in the formerly golden state. sean steele is the rnc national committeeman from california, and he joins us now. you want to take me on? because i don't believe you've got a prayer of any republican winning statewide office in my lifetime. and i'm still relatively young. go. >> and i'm going to take you on. california is now what england was in 1948. at one point in the 1950s 60% of the people were middle class x now it's far less.
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our job is to take good, young republicans and export them throughout the southwest and middling america. [laughter] you're right. on a limited basis. but one day it'll turn around. right now i'm producing -- we still have five million republicans, but what the democrats have done, they've created a war against the middle class. they're successful, they're pushing out young families every day. over four million have left in the last 20 years, not replaces by in-migration, we're an out-migration state. so, yes, we've got our hands full in california. stuart: okay. glad to see some honesty, lots of politicians say, no, no, we're going to make a good showing. okay. some honesty there, and we appreciate that. now, the president goes to california tomorrow. he's not going to get a great reception, is he? >> oh, he's going to get a good reception among the people that are going to see him. he's going to raise millions of dollars. remember, california's still a wealthy, wealthy place. now, it's -- the smart people are leaving, literally 3,000
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people a week, but there's still a great deal of wealth. california's turning into a feudal state. we still have a nice, wealthy elite on the coast. most of it's liberal. some of the wealthiest people in the history of civilization are in california, but now we're number one in poverty. so, yeah, the democrats are not happy with us because they're ruining the state. they're doing something to california that is making it less livable than new jersey, if you can believe that. [laughter] we still have, we still have millions of people that like trump. but, you know, if they're going to make cow flatulence illegal and illegal to even have plastic straws, we're not in a normal part of the universe. stuart: you know, you kind of hit the right button with me, because when i first came to america in my early days, i went to san francisco. i got my first job in television in san francisco. and it was a wonderful, wonderful place. this is the 1970s. then i came to the east coast to work with cnn in the early days, and i live in new jersey. so you've just hit my hot
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buttons there, california versus new jersey. [laughter] and i still live in new jersey. what do, what's your comment on that? >> well, the comment is that there's, the largest going political party in california are declining the states. a lot of these are new immigrants, particularly from asia. i think a lot of these folks are going to eventually see that california could be so much better, but it's going to require probably an economic meltdown, inevitably with the pension costs, with the unions in total control, they're going to run out of money from the middle class. when that day of reckoning cops, my party's going to need 25 scott walkers in the wigs. and by the way, wisconsin and michigan and pennsylvania have the same problems, and they've recovered. well, i think there's a shot for california, but, varney, it's not today, it's not tomorrow. this is a long-term, protracted warfare. stuart: shaun steel, honest man. rnc guy. thanks so much for joining us, sir. you'll be back if you're not
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careful. [laughter] good stuff. all right, check that big board. we did have a reversal. we opened with gain of over 100 points, now about two and a half hours later we are down 123 points at 25,200. bitcoin is back and trading just above $9,000 a coin, $9,177 to be precise. next, honor student -- i repeat, honor student -- she don't want to go to college, she wants to be a mechanic. we'll talk to her on the other side of this break. ♪ ♪ mvo: we had support from the interfaith groups, the synagogue, the churches. ♪ when disaster strikes to one,
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stuart: i think we need trumpets for this. it's a very special guest. our guest is an honors student. she scored in the 88th percentile on her college boards, but she doesn't want to attend a four-year college. no, she wants to go to a two-year technical school. our guest is rayleigh nicholson. are you there? welcome to the program. good to see you. >> you too.
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stuart: yeah, right. you want to be a mechanic, right? >> yeah. stuart: why do you want to be a mechanic mechanic instead of an investment banker, like go to college? >> it's i all about what i'm interested in. i'm not interested in anything but mechanics really. stuart: but you can earn a great deal more money as an investment banker or a tv kind of guy. >> i don't feel like that. i think that you can earn money in any career that you go in you can get the right path. stuart: what do your parents think of this? >> at first they thought it was just a phase and, like, i'd do it as a hobby, but they're starting to get around to it now that they know i'm serious about it. stuart: now, when i, when we told the audience that you're in the 88th percentile on college boards, that means that you're intellectual, right, and that you do well on academic studies, is that correct? >> yes. stuart: which is your best subject? >> probably english. stuart: english?
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okay. you read a lot? >> yeah. stuart: so why don't you want to make use of that talent that you have for english? you just prefer tinkering with a car? >> yeah. i just love the whole idea of getting my hands dirty with cars and such. stuart: you -- this is a quote -- you like the idea of getting your hands dirty in a car all oiled up. that's what you enjoy. >> yeah. [laughter] stuart: what's your favorite book? >> i don't really think i have one, i just like a lot of them. stuart: what do your friends think about all of this? >> some of my friends are into cars as well, and they're pursuing a technical career as well. so they support me. stuart: any of your girlfriends like tinkering with cars as well? >> no, they're all going to a four-year school. stuart: okay. where do you live?
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>> [inaudible] stuart: that that again, please. >> [inaudible] stuart: which state? sorry, i don't know. >> pennsylvania. stuart: do you have any view on politics? >> no, not really. [laughter] stuart: you just like cars. do you drive -- well, you're 18. you drive, i take it. >> yeah, i drive. stuart: what kind of car do you drive? >> my dad's lincoln. [laughter] stuart: a good car. raelee, it was a pleasure having you on the show. you're a remarkable young woman, and you know exactly what you want to do, and that's a fine thing. it was great to see you, and if you're not careful, we'll invite you back. [laughter] raelee nicholson, you come again. thanks for joining us. >> thank you. stuart: there'll be more "varney" after this, and that's a promise. ♪ ♪
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stuart: lizzie, favorite story of the day? liz: amazon drones. you asked me to be sport. stuart: go ahead. >> britain may be out of the uk and out of the world cup. stuart: charles payne in for neil. it is yours. >> welcome to "cavuto: coast to coast" i'm charles payne in for neil cavuto. republican rick saccone and democrat conor lamb making final push for pennsylvania. many see the unofficial kickoff for midterms. will the economy be at wind of republican back. let's ask "wall street journal" john bussey, and caitlyn huey burns
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