tough storm. dagen: thanks to one in all, travel safely, we will see you tomorrow, varney & company starts right now. stuart, it is all yours. stuart: yes, it is, dagen, good morning to you, thank you very much, indeed. good morning, everyone. investors, how is this to start the week, profit is surging, that suggests more growth for the economy as businesses plow back huge amounts of money they are making. at the fortune 500 profits are up compared to last year, we have not seen numbers like that in years, the result of trump tax cuts and the trump's red tape cutting, now look at the three companies, amazon, google, microsoft, the huik profits they -- huge profited they reported are within striking distance of trillion dollar valuation, apple hit that mark last week. here is the bottom line, big

businesses are in very good shape. venezuela is not, you see this, socialist dictator mat swroa watching military parade, aides cover with him with blast blanket, troops run, scatter, maduro said it was an assassination attempt that he's cracking down. venezuela in collapse mode, no power, no food, no medicine, what should america do? drones look like the new terror weapon, don't they? and then there's chicago, nightmare weekend, 63 incident shootings and ten dead, chicago has strict gun laws, it's a sanctuary city, the democrats have run the place for decades, what should america do? it's monday varney & company is about to begin. ♪ ♪ stuart: first to california

where wild fires grew, expanded over the decade, one nearly doubled in size to make it the fourth largest in the state's history and president trump weighed in with a tweet or two. california wild fires have been made so much worse by the bad environmental laws which aren't allowed readily available water to be properly utilized. it is being divert intoed -- diverted into pacific ocean. james freeman, this is the president taking direct aim at the greens and blaming them for california fires, what do you make of this? >> if the president had more supporters in california they would respond different, he's raising a different question, happens in many places in the west, should environmental laws,

more active measures to take down forests before you have this, try tender available for fire. similar on the water end. a lot of water is diverted in california for various species, people are worried whether the smelt is worth. stuart: it's almost sacrilage which you hear the presidents say like that makes you think. >> that's why i think it would start a discussion, i think it ought to start a discussion out there given the politics of california, i don't know that it will but ought to be something that they are talking about. stuart: i also want to talk about profits, headline in wall street journal, your newspaper today, profits are surging at big american corporations, my point would be, james, yes, they are, indeed, surging, up 24%, that's huge, this is tax cuts, isn't, the result thereof?

>> the result, the tax cuts, deregulation, the economic growth coming from it because what is so encouraging about this is not just the boom in profits, it's the boom in pretax profits, so it's not just they are paying lower tax bill, debting faster economic growth. bigger pretax profits, revenue surges, we didn't hear a lot about that during the obama years in terms of s&p 50 results, so a lot of encouraging news here not just bottom line. stuart: i was suggesting at tom of the show the businesses will plow that money, huge amounts of money back and we would get more growth in the future, is that a reasonable assumption? >> you are seeing capital expenditure boom, companies investing more just as the white house expected an predicting, now some of the money obviously uses companies use today buy back stock which is fine too because it returns that capital to investors, they are reinvest in other companies, it's all good, and i think that's what's

remarkable is this is happening basically right as the white house has been predicting as a result of the tax cuts. stuart: you never get agreement from the left. >> underreported story very much. stuart: yeah, they'll put profits before people, that's what will be the line. >> profits are good for people, you hire more, you build more factories, you buy more equipment, you make the workers more productive, higher wages. stuart: capitalism is good. ashley: they move somewhere where they don't pay tax. it's making the. >> richard: er. >> i think that's why this capital expenditure boom is so exciting. ashley: it proves -- >> giving us the path to higher living standards for everybody. stuart: lizzie, you're rather quiet this morning, wait until the next subject comes up and you can explode. [laughter] stuart: from the market let's go to taxes. democrats in new york state are pushing the idea of a full-blown

state-run single-payer healthcare program, make residents pay 70%. ashley: what? stuart: 70%. [laughter] stuart: american for tax reform, surely, when you put those kind of numbers out there, that's the cost of a single-payer program for one state, it dies, down it? >> they are dying if you look at california, illinois, new york, new jersey, there's net migration out of those states, there's a great website, how money walks.com and shows you the number of people leaving high-taxed state and annual income they take with them when they move to texas and tennessee and florida and north carolina, because this has been happening, it's more credible to point out that if you speed up the destructive high-tax policies

you will speed up people leaving. stuart: i'm sure that the left will say with businesses making all that money in profit, tax them some more so we can have free health care? >> well, one of the challenges you have is that by taking the national federal corporate tax rate down, you make the differences, california and other states, high-corporate tax rates stand out more. becomes a bigger part of what the company faces when they decide we want to invest in america, 50 states, pick one, how many are picking illinois, how many are picking new york ad new jersey. >> foolishly picked new jersey. it's not funny. i want you want capital gains to inflation. if you bought a house 30 years ago for $30,000 and worth a hundred thousand dollars, you have a 70,000-dollar capital gain and you index to inflation

and make buying price to 60,000, 40,000 capital gain, that's what you want, that has been a proposal, i will put it to you, it ain't ever going to happen. >> here is the good news, it is going to happen, president trump supports it, mulvaney supports it, larry kudlow all supporters and doesn't take -- while the leadership in the house and senate, republican leadership strongly supports it can be done by the treasury department or even by omb, there's a supreme court decision in 2002 when the fcc did exactly this, the cost is cost plus inflation for their purposes, this went to supreme court and the supreme court said, of course, you do that, cost is not an ambiguous term. stuart: would they do it before the midterms if they put that on the left would go crazy another give away to rich corporations? >> but remember who are the big

beneficiaries of not taxing fake games, inflation is fake gains, we only tax capital gains not things that are capital gains, older americans, what do older americans do, they vote, every time we've cut the capital gains tax it's a tremendous advantage because if you're 60 or 70 year's old the chances that you've held stock for 20 or 30 years, the chances that your home has dramatically increased in value, the land around home have increased value are much higher. the taxing capital gain that is you don't get, meaning taxing inflation is particularly damaging to older american who is had assets, who had land, buildings, house, stock that they plan today retire on and then they find the government comes in and says we will tax you on inflation not just on your gain, taking that off the table will guaranty republican

house and senate and the republicans know that so do democrats which is why you are right. stuart: keep pushing on behalf of the elderly, keep pushing, got it. [laughter] >> you're all right, thanks for joining us. >> take care. [laughter] stuart: still haven't said anything, liz. about to. ashley: watch out. stuart: check futures flat to slightly lower this monday morning, got it. pepsi, ceo, will step down on october the third, now, lizzie, that leaves how many women in charge of fortune 50 companies? >> about 23. stuart: that's it? liz: this is also other women have left running food operations like campbell soup. it's really about the change in taste and the fights in aisle 5 over people saying you know what, we don't want a pepsi with cheese anymore, we want green

tea with hummus, they oversaw that, grew sales 81% in 12-year tenure, even though total return is below s&p 500. it's such a slippery time, he's the eighth food executive to leave since january of last year, you're talking coca-cola, general mills, kellogg, starbucks. stuart: cultural shift in business. all right, and then we have elon musk, you might say at it again, tweeting out joke to troll investors who have betting against tesla, how is that going to play with shareholders, we will tell you the whole story. nutella lovers, they want to hire 60 test tasters. >> i'm in. [laughter] stuart: here is the catch, here is the catch, lizzie, if you're hired you have to move to italy.

[laughter] stuart: venezuela's president assassination attempt, two drones with explosives while speaking at military parade, those are blast blankets to protect them and the troops running when they heard the blast. blast. more varney after this. with feedback to help you drive safer. giving you the power to actually lower your cost. unfortunately, it can't do anything about that. now that you know the truth... are you in good hands?

stuart: i want to see what rite aid stock is doing, down sharply, a buck 70, why? they did not give a very rosy forecast and the stock is above -- a buck 70. sea world, more attendance, that's sea world. venezuela, maduro survived what he called an assassination attempt making live speech saturday, drones wept off, exploded nearby.

there's the army. ashley: we are out of here. stuart: they are running on the first sound of guns. i've got two questions, christian, number one, how much longer can maduro stay in power, what's the end game basically and number two, what should america do, invade, use cia, give them food, what should we do, deal with maduro first, what happens? >> with maduro, i'm afraid there's durability with this regime, you see the culmination of socialist that began in 1999 when vel -- venezuelans voted for hugo chávez, people protesting, it's hard to time, i'm afraid maduro has potentially some durability still, it's hard to predict. stuart: what action if any should america take? >> i think we are already doing good things, we've switched in the trump administration from

what obama did, obama reached out the chávez, friendly hand, gave him the brother handshake when they met and switching to a situation now where vice president mike pence goes down to the america's repeatedly and put a spotlight on the regime misconduct, oppression, the effective socialist policies, venezuelans didn't like that much and called that as poisonous viper, there's pretty strong sign that is this was fake, this was done by the regime to enagainer sympathy. stuart: on the program we said why don't we have a cia have quiet chat with generals in venezuela, free passage to miami and get that regime out, would you suggest any kind of intervention like that at all? >> i think that would be fine, certainly the marcos suite in

honolulu if we want to part dictator somewhere, the military has been hand picked, a regime has been in power since 199 if you count chávez before maduro and there aren't good actors in it. they would have to be convinced that removing maduro that their lives would be better, i certainly welcome an attempt to do that but ultimately it will come down, more to people power in venezuelans to throw this off. our focus really has to be on more serious security threats. stuart: one last one, it's humanitarian crisis, should we just send them food? >> you know, this is a country that's a wash and oil, it has the most significant oil reserves in south america, really if they just -- so currency is in the toilet and have serious problems but if they essentially resume free market of some sorts they will

get all of the material needs met, so i would say just keep up the political pressure, certainly you should look for factions in any regime that's causing problems for the united states, hope that it goes down and if we keep the pressure up, i think eventually the venezuelan people will push them aside, many are trying. stuart: okay, soft response, thanks for joining us. ashley: you know a country where so many people are eating out of garbage cans and yet they have money to put military parade. stuart: are we going to sit them and watch them fade and people die. liz: maduro admitted that the socialist model is broken. stuart: maybe i'm taking too hard of line. liz: no, you're not. stuart: check futures how are we going to open, flat to ever so slightly lower. not much change coming up. new jersey's democrat governor

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stuart: in new jersey, yes, new jersey, they have approved a

5 million-dollar plan to subsidize in my opinion bail out local newspapers, jim freeman still with us. the only people who will get support are local newspapers which all go democrat, where am i going wrong here? >> it's tough being a resident of new jersey, i've been kind of wandering around trying to find someone with optimistic case for our state and i just can't, so we've got the worst tax burden nn the country. stuart: yeah. >> we have one of the largest unfunded liabilities for pensions and health benefits for workers, you were talking about people fleeing the blue states, that's new jersey, the answer is now we are going to spend money on local media that is supposedly going to hold politicians to account. stuart: why is my taxpayer money going to subsidize failing local newspapers, why is that? >> yeah, maybe they ought to just fix the problems in the state instead of funding more

people to describe what they are doing and how tough are these new funded backed journalists going to be on the people creating all of these problems? stuart: do you think they would subsidize you and i? [laughter] >> maybe we ought to be happy that things don't work out here that there's a safety net but i doubt it. stuart: if it doesn't work out here we can go to new jersey and get a bailout, i think not. the opening of the market is in approximately 4 and a half minutes time, we will take you there, we don't expect any blockbuster move up or down this monday morning, in fact, it's going to be dead flat to ever so slightly lower or ever so slightly higher. keep in touch with the market moves after this, please.

stuart: okay, we have 35 seconds to go and the market will open this monday morning. we might have a case if you notice traffic to new york city in monday morning in the middle of august you'll notice that it's way, way down, that indicates -- ashley: everyone is on holiday and i'm very jealous.

[laughter] stuart: in 15 seconds time we we will get not enormous move in stock prices, we have several companies getting pretty close to a trillion dollar valuation but the overall market staying pretty flat, bang, we are up and running and we are down 20 points, that's it. 25,400 is the mark very early in the morning, that's a fractional loss in percentage terms, 1 tenth of 1% down. s&p, it is down .04%, in order, barely moving at all. the nasdaq composite, show me that one, please, and that is down .03%. if you want the definition of no moving, just watch this market as of monday morning today. big-tech names, you have to check them and now they're all up, apple is unchanged but facebook is 179, modest rebound from lows recently, amazon up another 3 bucks, 18.26, alphabet

at 12.40 and microsoft at 108. i need help on monday morning, elizabeth mcdonald is here, ashley webster, james freeman holding over and eddy by popular demand is here with his entire family. first thing, profits are surging, let there be no doubt about that, up year over year for corporations, eddy, i can't remember that kind of profit surge before and implies to me that the growth in the economy will continue, what say you? >> yes, what we are watching right now is simply amazing and americans should be proud of where we've come from in a short period of time. i had a client point to me last week, january 2016 i was on your show and we discussed corporate tax reform and we talked about the fact that if we ever passed we would see economic boom, at that time we were trying to hit

2%, apple $94 a share, amazon under 600 and here we are today 4.1% gdp was the last reading, economy is bumping on all sill -- cylinders and apple hit trillion dollars and we have come a long way for short period of time. stuart: what you were saying you were right in january, virtually the same thing now, more growth will continue and we want to see you right again? >> that's correct. stuart: i have more for you in a second. >> okay. stuart: apple, first to get to trillion dollar valuation mark, so what's next amazon, alphabet or microsoft, all the three on the screen, amazon, alphabet, microsoft are worth way more than $800 billion, which one hits a trillion first? liz: amazon, less than 11% move up for amazon, it would take alphabet about 14% and microsoft about 17%.

stuart: my handy dandy cell phone here -- amazon is now worth $889 billion. ashley: a lot of people saying that amazon would beat appear toll that level and they were wrong but i do think it's the next one most likely. stuart: they have the shortest distance. >> i agree, i think all three of them will hit the number. amazon will get there quicker because of the percentage that they need is lower. stuart: microsoft will hit a trillion? >> yes, you will be happy about that, right? [laughter] stuart: okay, i've got to get some more serious than a trillion dollars and that would be trade, chinese state media slamming president trump's policies, this time in personal terms, they have called him an intimidator, they said he's a street fighter, they said he's part of a deceitful drama, so what do you make of that, james, a for new tact, getting

personal? >> yeah, obviously tariffs they announced friday would be personal for consumers, raising costs, it's dangerous, you wonder how far it can go, don described it assort of like drinking game where so far we are winning but you hurt yourself either way and i think the reason the markets are not -- not dropping is that there's a faith that based on the president's successes we have been talking about with the economy he's going resolve this soon but the world wants trade -- people want to payless. liz: is he going to resolve it ahead of midterms because 42 republican seats are open. ashley: you could argue what trump is doing is working, they are starting to push back a little bit and got anway for so long and using state media to launch attack back so they are blinking a little bit. stuart: china is hurting. down 20%. that's a huge drop. ashley: absolutely. stuart: serious stuff.

apple 208.92, no all-time high for apple. meanwhile we have some slippage in the market, dow industrials is down what, 60 points, 25,040 holding right there. the parent company of rubbermaid, sales fell short, apparently the bankruptcy of baby r us, they sold a ton of the products. surprise increase of attendance in sea world, the stock at 4-year high, up 19% this morning. profits falling short, the company says it has moved some sales back to first quarter of this year, not sure what this is all about, down 10%, better profit at tyson, we are told that lower cattle costs helped offset the fallen beef and pork prices in america. the results 59 bucks a share.

how about pepsi, ceo will step down october 3rd, women currently hold 25 of the ceo positions at fortune 500 companies so 5% of the top jobs actually go to women as we speak. ashley: that's allow number, very low number. it's not good. stuart: okay. >> we have been talking about the difficulty of trying to meet consumers new demands for nutritious foods and this has been one of the challenges here, they are going back to advertising a little more on the sugar water because they have gotten big on healthy foods but a lot of people like to drink pepsi. stuart: the direct question, let's go to eddy on this one, would you put money into a company if they hired a female ceo because they've got a female running it? >> no because, you will take their ability to deliver, it wouldn't matter if it's female or male, at the end of the day will they do the job properly.

that's not a reason to buy or sell, it's matter of results. stuart: let's get to wall street journal reporting big-tech companies are going to work with politicians to help shape new privacy legislation. liz: okay, they are trying to get ahead of this. they want weaker federal legislation, this is about federal legislation to do patch work of different state rules, they want to weaker federal law that would stop anybody from suing them if they don't notify that their privacy or information has been breached, so, you know -- [inaudible conversations] liz: federal level. stuart: really messing. liz: stop them from suing. suing these companies. stuart: facebook, by the way is recovering a little bit, 178 as we speak, 179 i'm sorry on facebook. all right, the hits keep coming for wells fargo, the bank says a mistake led to hundreds of

foreclosures, any wells fargo customers here? ashley: i used to be. stuart: happened? ashley: terrible. they were servicing my mortgage, not great. stuart: stock can't break from 50-dollar range, it's been there for long time. can't get out from -- ashley: haven't putter stock, it's amazing how many glitches, quote, unquote have come out. liz: 400 homes foreclosed. very they have a lot of litigation risks, one of my favorite sectors to invest in economic cycle but i wouldn't touch wells fargo because you have better banks that don't have the litigation risks that they have, i think they'll see profits surges as rates go up and the economy and the consumer continues to get stronger and stronger. stuart: all right, tesla's chief elon musk poking some fun at the investors who are betting against tesla shares, here is the tweet, turns out even hitler was shorting tesla stock, the tweet contains a link to this

video. ashley: yeah. stuart: hitler appears in the video. ashley: from movie down fall. four-minute clip that's used by multiple people over many years that they put in their own funny, it's used in tongue-in-cheek sometimes sports team, sweety hitler, founding his fists on the table and you can put any translation you want at the bottom and musk used this to make fun of those people shorting his stock. stuart: is that in bad taste james freeman? >> it'll be interesting to see what happens because often when he starts tweeting, the stock takes a bump. people assume if he's firing back at the shorts, he knows something that's coming. i don't know if this is ideal disclosure of financial information -- ashley: after apologetic conference call. stuart: look, tesla stock this

morning, i've got it on my screen, up 2 bucks at 350 on tesla. liz: there's a lot of dead shorts, the stock was at 150 in 2014, popping up 350. stuart: it's that time, eddy, 9:40, we are out of time. >> all right. thank you for having me. stuart: james freeman, thank you very much. now, the dow industrials are down 60 points on dow industrials, 25,400, that's where we are. samsung, leaking video of its new note 9 smartphone, the question is should apple be worried? we will tell you what the iphone latest competition looks like. we will tell you.

♪ ♪ our new, hot, fresh breakfast will get you the readiest. (buzzer sound) holiday inn express. be the readiest.

>> all right, with 12 minutes into the day trading, we are

down 60 points. watch out iphone, samsung has a new phone coming out. competition, tell me all about it, nicole. nicole: competition and they are bringing it out early because samsung's other phone galaxy 9 and 9 plus, the s9 and s9 plus weren't received so well. race between samsung and also apple. here are details, due out in 6 days duh the promo came out on youtube and has all the details, the new s pen style all-day battery life, super powerful and highlight here is that it has 1tera byte of flash memory, that is the only way they can get to tera byte the colors blue and yellow with powerful pens, this is the battle between the two, there's no real clear winner on this, folks may love this one and they are getting out early and it's supposed to be a little more affordable as well as. they want to get it out before

three u iphones come out in the fall and even apple disposable phone so apple is trying to get it out fast. stuart: new nothing about the nutella spread that's irresistible. liz: all you have to do is move to alba, italy. what are we waiting for? [laughter] liz: you would go 3-month training, are you ready for this? you remember there was a riot when nutella was on sale -- stuart: it is good, smooth, creamy, sweet. ashley: there's a commercial. liz: now do you believe in god. stuart: whoa. liz: nutella. ashley: i believe in nutella, let me put it that way.

stuart: california democrat senator kamala harris talking identity politics, roll that tape. >> i have a problem, guys, with that phrase identity politics, that phrase is used to divide and it is used to distract, these issues that they're trying to diminish and demean are the very issues that will define our identity as americans. stuart: all right, what does herman cain think about that? divert attention from the economy, what do you say? >> exactly. i call it shift the subject. democrats invented identity politics, they want to let people come across the border, keep them illegal, they use identity politics to play race card when it's convenient.

this is halt wash and i don't think it's going to stick but invented identity politics and now they are trying to say somebody else is doing it and bring their party together, their party is so widespread that they are looking for a message. stuart: i don't see how identity politics can bring america together, i just don't see it. you split up into little constituent groups, doesn't bring you together. >> here is the other reason it will not bring the country together, identity politics is seen only through narrow lens of the media which represents all of the bad news in new york, washington and hollywood, the rest of the country, they do not see identity politics. i don't see it when i travel, you don't see it, that's why it's not going to work because it's a very narrow narrative. stuart: how is this, this is my view of midterms, i think the republican wills go with the economy and the return to prosperity but i think democrats

will go with free health care or medicare for all or a single-payer system, we have seen that in new york city. so that will be the split, the economy and prosperity versus free stuff like health care, what do you say? >> i agree with you on what the republicans are going to run on, the economy and prosperity, the democrats are going to run on fumes, that's all they have. that's all they have, stuart, fumes, they are going to try to sell this idea of free stuff but the american people are waking up, socialism has never worked in the history of man and offering all of that free stuff is just another form of socialism and a lot of people are not that gullible, this isn't venezuela. this isn't cuba, this isn't the ussr, this is the united states of america and the american voters are a lot smarter than that. stuart: why don't you become a democrat and push for that 999

slogan, do you remember that? 9% of this, 9% of that? >> i remember that. stuart: if you became a democrat and ran on that you could restore the democrats to a growth and centrist party. >> there's a better chance of me becoming santa claus than becoming a democrat. [laughter] >> pure and simple. let me quote former senator and former governor miller, he didn't leave the democrat party, he told me this himself, the democrat left him and so what the democrats are doing today, they are leaving a lot of traditional supporters behind and further splitting the party, so no, i'd be santa please before i would be a democrat, stuart: keep coming on the show, herman cain, good stuff, sir. >> i enjoyed it. stuart: check the dow 30, down

75 points as we speak. two-thirds in the red, down one-third in the green, up next we will deal with chicago, another deadly weekend there on saturday night alone at least 40 people were shot in a 7-hour period, judge napolitano on that coming up next. you shouldn't be rushed into booking a hotel. with expedia's add-on advantage, booking a flight unlocks discounts on select hotels until the day you leave for your trip. add-on advantage. only when you book with expedia.

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yeah, i got some financialbody guidance a while ago. how'd that go? he kept spelling my name with an 'i' but it's bryan with a 'y.' yeah, since birth. that drives me crazy. yes. it's on all your email. yes. they should know this? yeah. the guy was my brother-in-law. that's ridiculous. well, i happen to know some people. do they listen? what? they're amazing listeners. nice. guidance from professionals who take their time to get to know you.

stuart: over the weekend earthquake in indonesia, let's get the latest on that dramatic video. ashley: the island of lambark, east of popular resort island of bali, 6.9 is the official magnitude of this earthquake, it was a shallow one, 19 miles deep, because it was so that low it was violent. the island has death toll close to 100, many more injured, the death toll is expected to rise, 10,000 people evacuated. 113 aftershocks. go around the pacific rim. stuart: deadly weekend in chicago, 10 dead, 53 wounded, all rise judge andrew napolitano is here. how do you stop this? >> i don't know to that, you can't stop by putting national

guards in the streets because that violates federal law, i know the president would like to do that and maybe even mayor emmanuel would like that but that violates federal law, you can't use national guards to enforce domestic law enforcement. stuart: they could stop riots? >> yes, it can be used riots aimed at the government. they can't be used to enforce ordinary criminal law, that would require act of congress. stuart: they could be used to patrol, i'm sorry to interrupt you, judge, you have 63 shooting incidents between friday night and sunday night, i call that carnage. >> i'm not a fan of rahm emmanuel, i can't imagine that this is his personal fault, the most difficult in the united states in which to defend yourself by obtaining a lawful weapon, so the people shooting know that their victims are extremely unlikely to shoot

back, it's like shooting fish in a barrel, all the guns in chicago are either owned illegally by the bad people or legally by the police, there are no lawfully owned handguns or rifles in the city of chicago, that rule must change and, in fact, the supreme court said it should change, that was four years ago, it hasn't changed yet. stuart: there was a demonstration last week, many african americans in chicago took part saying get rid of rahm emmanuel, he's not working and people are still dying, one of the people quoted on the demonstration said he the mayor thinks more about protecting illegals than he does about protecting us the people of chicago. >> it certainly gives the appearance of that, you know, he's quite a survivor, he has the massive antirahm emmanuel demonstrations over and over again and they keep reelecting him. stuart: gives teachers what they

want. >> politics of the city that well. i do know gary mccarthy and the former police commissioner in chicago who says that the level of violence is unlike anything he has ever seen in his years as a professional police commissioner and most of the people doing the shootings have no jobs, they are doing it out of the bitterness and anger and hatred of society and they are taking it out on other people who also have no jobs. nothing to do reads violence, unlawful guns and no lawful guns to repel them. it's going to get worse. stuart: you can't bring jobs into a war zone. >> if the fed sends them money, it's going to take a long time to transcends to the streets. stuart: coming up my editorial

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stuart: venezuela is a corrupt, socialist dictatorship with rapidly collapsing economy and it is on our doorstep. what should we do? in my opinion nothing. certainly not yet. this mess is not our creation. it is not our fault and if we intervened in any way, we would be accused of yankee imperialism. latin america would rally to the anti-trump cause. if you're just catching up on the news this is what happened in venezuela over the weekend. president maduro is watching a military parade a drone explodes nearby. bodyguards cover him with blast blankets. assembled soldiers watch him, run for cover. ma row says it is a

assassination attempt. there are the soldiers running away. any way you slice it maduro looks bad. his own people are running after him. his own troops run. his regime is collapsing. there is no regular water supply. power foes out most of the time. there is no food, medicine and crime is indeed surging. the end is surely close. if america were to intervene, venezuela's agony may be actually extended. send in the military or cia, maduro become as martyr. send in food, maduro extends his power. perhaps offer of safe passage to cuba might be the way to get him out. maybe venezuela may be best used as an example for our own socialists in america. socialism is making great strides among young people. venezuela could be a teaching moment. in our schools and colleges, socialism is held up as something wonderful. the sight of venezuelans eating

out of trashcans might open some eyes. let's make it clear venezuela is done. it is not our fault, it is not our responsibility but it's a very strong warning to pie-in-the-sky socialist dreamers. the second hour of "varney & company" is about to begin. ♪ stuart: monday morning 32 minutes in, down 60 points at 25,400. intel the biggest loser among the dow 30. barclays downgraded the stock says that it needs to prove the next generation of chips is better than amds. disney, biggest gainer in the dow reporting earnings after the bell. disney reached 114, almost 115 bucks a share. rite aid lowering their

forecast. when you do that, the stock goes down. the stock is down. seaworld, four-year high in that stock. surprise increase in attendance. can't quite read that. 15%age points. big techs, got to watch them where all the big money is going. all of them down except alphabet. apple, $208. microsoft, 108. apple did indeed hit a trillion dollar valuation last week. market watcher keith fitz is with us this morning. keith, you're out on a limb be here i think. i'm reading your stuff. apple will double from here. you say it will go to $400 a share. first tell me what's the time frame and tell me why it's going to go so high. >> all right. i am still working on the exact time frame and here's why because the catalyst i'm looking

for is not yet in existence. what i think apple will do make a pivot into medical devices, when that happen, 1,000-dollar iphones become irrelevant. in fact the price margin basis in today's earnings, apple's most recent earnings becomes the impact. apple 1000-dollar phones is irrelevant. insurance pays for everything. imagine when the doctor prescribes a wearable. that is what takes it to a new high. stuart: the incredibility amount of money the big technology companies have made, they started already funneling it out to other industries where they can help with the efficiency and dynamism. i think this is a wholly good thing. >> bingo and that is exactly where my mind is. it is not just about the companies. that is why i say this at the risk of sounding like a broken record. apple is no longer about the device. it is about everything the devices enable. it is health care, payments,

everything tim cook is pounding on and that will expand margins and bring money to the bottom line. stuart: all investors regard hess of age, if they're in the stock market they should have some money in big tech, you say that? >> that is a hard question because individual circumstances vary however i would put that another way. i would say you would be very hard-pressed to be wrong with apple and you have to think very seriously if you do not have it in your portfolio. stuart: got it. talk to me about bitcoin. i raise the question, because goldman sachs says bitcoin is never coming back. it is now quoted at 6900 bucks per coin. i don't think you've been a big fan of bitcoin but what do you say of goldman sachs? >> i say goldman sachs is right. the true believers, i get a lot of trouble on the internet will not like this, dope understand how manipulated. the 50% of the meteoric rise was

direct result of absolute manipulation according to university of texas research. that tells me if it is not worth anything. if you have 1300 crypto currencies out there, who is to say about it coin comes back or not. stuart: what do you mean about manipulation? how is bitcoin's price manipulated? >> there is related currency called tether. if bitcoin is down, they release tether, the conversion mechanism from dollars to sigher currency. anytime this fell they would release that in two run parallel. this university of texas research is very, very credible and very eye-opening. you have to read it with a open mind. a lot of people anxious for a quick buck will not take the time to do that unfortunately they will find out the hard way it is manipulated. worse than the big banks, worse than derivatives, worse than anything that caused the financial crisis. stuart. keith, we'll see you sir. thank you, sir. >> thank you. stuart: at the top of the hour i

talked about the editorial about the unrest in venezuela. we have the expert on that subject. mary an terrible that o'grady, from the wsn. -- "wall street journal." anything to help venezuela would help maduro and gang up against us. what do you think america should do? >> i don't think that is the reason to do anything. anybody who says venezuela is finished i give you zimbabwe. they had hyperinflation. they have the same party in power. you know, they just won an election. who knows if it was fair. anybody who says that venezuela has nothing to do with us, i give you afghanistan where a lot of the problems that we received on 9/11 were cooked up in afghanistan. so, i think it is very important to understand that venezuela in the situation it is right now is

a threat to the united states. there are problems there. they instituted direct flights back and forth to tehran and to damascus. they have been bringing people from the middle east. they love migration crises, because migration crises allow them to plant people they want in the rest of south america, in those mobs of people that are crossing the border which is what you have in venezuela right now. i would agree that we shouldn't do anything unilaterally. there is a lot of interest in south america because of the destabilization that is going on with this government in somehow trying to contain this problem. so anything that we do has to be a coalition and maybe even a coalition that is not led by us. i mean colombia is very interested in solving the problem. brazil, argentina. stuart: what would the coalition do? the idea of invading, that is not going to happen obviously. >> no. stuart: but quiet action by the cia and other -- >> the two things i think are most appropriate would be, first

of all in the financial front, trying to isolate the country and remembering, by the way, that venezuela is run by cuba right now and the path to fixing venezuela goes through cuba. so you have to get a coalition of people who agree that cuba is misbehaving and cuba should pay a price in terms of what it is doing there in terms of the financial markets. i do think covert activity is underrated. we went through a period of time that we're not going to do that anymore. in fact that is one of the most effective way, infiltrate, find out what they're doing with our other enemies. again this is not a banana republic going down, this is a country using or a movement that is using a foothold in south america to basically plan and inflict more damage around the region. stuart: you set me straight, mary. seriously, that is really good. the idea they are collapsing and

just going to go away refuted by zimbabwe, good point. the idea they are just benignly collapsing, forget that they're a danger to us. >> i think so. stuart: very good, mary. >> nice to be here. stuart: you might be back. appreciate it. we have a big, big hour for you on "varney & company." look at this. california wildfires raging over the weekend. men did mendocino county raging. 20,000 people evacuated. could get worse. we have an update for you on that. by the way the president has been tweeting about it. he is growing after the greens. white house press secretary sarah huckabee sanders squaring off with jim acosta. her father, mike huckabee had a few choice words for him, acosta. the governor will be with us shortly.

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stuart: where are we now. we're 45 minutes into the trading session. we've not gone very far. we're down 40 points. 25,000, 418. look at sears, it is adding merchandise to the online marketplace. hoover, dirt devil, they're being added to the online marketplace. investors kind of like it, up .03. for the year, sears stock is down 75%.

listen here now between the fiery clash between jim acosta from cnn and sarah huckabee sanders at a white house press briefing. roll it. >> you did not say the press is not the enemy of the people. >> the media has attacked me personally on number of occasions, including your own network. said i should be be harassed as life sentence. correspondents' association, almost all of which of you were member of you brought a comedienne to attack my appearance and call me a traitor to my gender. stuart: we have mike huckabee, former governor of arkansas. what did you say to a cost stay? tell us on this program? >> sometimes you're the windshield and sometimes you're the bug. i think jim acosta was the bug and sarah was the windshield. that is my view, stuart. i'm objective as "the new york times" is about the president to say that. but i think jim acosta needs to get a grip what the job of the press secretary is. it is not for the press

secretary to help cnn get a story that they want. it is her job to represent the president and the white house on its official position. and so acosta is just chumming. he is throwing bloody bait out the back of the boat hoping she takes the bait. to her credit, she is a lot better at her job than he is at his. that is why she doesn't just fall for every time he is beggar her to say what he wants. let me be very clear. freedom the press means he can ask anything he wants, he can say anything he wants and the government can't stop him but freedom of the press does not guarranty that he gets the answers that he wants when he wants them or that he gets to dictate and determine what the frame of reference is going to be. that is ridiculous. stuart: he should not be the news himself. he did turn himself into the news story. that is something you should simply never do, if you're a white house correspondent. >> if you're a commentator, you

can make it about yourself, but if you're a journalist, true journalist, very few of them left, the fact you should be oblivious within the story that you report and when a reporter becomes a part of the story he or she is no longer a reporter. now they're editorialist, they're a commentator, they're an advocate, they're a player. that is not journalism. when the president talks about fake news, that is exactly what he is talking about. he is talking about around 90% of the news media who no longer can divorce themselves from their own feelings and passions. when you read a news story, or hear one on television and you know what the reporter is thinking and what their view is, that person is no longer a journalist. stuart: well-said, well-said, positive. governor. look at this opinion piece headline in the "new york times." children at trump rallies. what is it like to see young people exposed to so much anger. heart-breaking, says a "times"

photographer. all right, governor, have at it. >> i've been at a lot of the trump rallies. i see a lot of patriotism, a lot of excitement for the direction which america is going. if they want to see real conflict if they want to keep their kid something away that is dangerous, don't take them to lsu game in baton rouge that will scare kids. that will scare the daylights out of them. lit them say as arkansas razorback fan who once made a mistake going to death valley f they're fired up what kids are exposed to, would you take your kids to a maxine waters speech? i don't think so. stuart: that was sarcasm governor, but it worked, it really did. it worked very well. governor huckabee, it is always a pleasure to have you on this show. please pass our very best wishes to your daughter, sarah huckabee sanders, please. >> thank you, stu. stuart: see you soon, governor. now we have pepsi, their ceo is stepping down.

liz, straighten me out here. i think this is one in a series of people who lead food companies who have stepped down very recently. liz: she is the 8th. she is the 8th. the 8th since january of last year the coca-cola, general mills. i think we have the logos, kellogg's, hershey, starbucks, pepsi, campbell's soup. here is what is going on, for 30 years the food industry was copastetic, static, nothing going on then boom, it started to change. processed food companies having a go of it. they're having a hard time, finding next consumer trend and food taste changes rapidly. consumption 30-year low. people want private, label, healthy, nutritious stuff. ashley: ceo's are suffering because of it. they can't adapt to the new health habits of the country. liz: yeah.

used to be little guys were panicked about the processed food giants. now they're going towards the little guys, wanting what they have to deliver in terms of nutritional eating. stuart: interesting. coming up, one former congressman telling conservative millenials, don't fall back, don't be quiet when liberals call you names. we'll have him make his case on this program later this hour. ♪ dear great-great grandfather,

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yeah, but i'm pretty sure it's the same plan they sold me before. well your situation's totally changed now. right, right. how 'bout a plan that works for 5 kids, 2 dogs and jake over here? that would be great. that would be great. that okay with you, jake? get a portfolio that works for you now and as your needs change from td ameritrade investment management. stuart: on the surface i find this story incredible. "wall street journal" says facebook asked big banks give

them financial information about their customers. good lord. ashley, what information are they asking for? ashley: they want information like card transactions, checking account balances this is why. stuart: how much money i got in my checking account, they want to know? ashley: they know, that you want to see that on facebook page, messenger service. they want more engagement. one of those me believe hook up with banks to provide banking information on the facebook page. the obvious just question what about privacy? why should any bank give information to facebook if i don't want them to? facebook is talking jpmorgan chase, citigroup, wells fargo, u.s. bancorp. one bank walked away this is privacy nightmare, not interested. i can say banks are under a lot of pressure to build better and more extensive relationships with social media platforms going forward. so some of these banks are entertaining the idea. facebook wants more people to

use their messenger service. so you can quickly check your bank account information on facebook. why you can't do it on your bank app, i don't know. they want you to have more services available with regard to the banking on your facebook page. liz: privacy protection has not been so state-of-the-art or sin mat i cannily picture-perfect. they want to be like the bank of facebook, where you make payments to your friends over facebook. they have a license in europe and ireland to do that. 40% of bank revenues could be at stake from social media trying to move into banking. amazon has loans with small businesses. so it is a platform technology. ashley: they say, facebook, they will not use this information so the ads can be targeted at you. they won't share it with you. liz: i don't believe that at all. ashley: that is what they say, whether you believe it or not is another question. liz: they say one thing and another thing happens. stuart: i don't want a social network knowing my financial situation. ashley: it a big thing.

stuart: let's move on. blue apron, analysts positive about changes executives say are in the works there. it fell 30% last week on weak earnings. down another nine percent today. dropped below $2 per share. stuart: coming up, hack our grid, face stiff penalties. that is what our government is working on as russia successfully hacks some of our utility companies. we have the story for you. china fighting back against president trump on trade. the country's state-run media says president trump is starring in his own deceitful drama of extortion. they are getting personal. someone coming up is saying that china is losing that battle he will make his case. ♪

♪ stuart: what is the name of this. i know it well obviously. i'm looking through you. i'm looking through you is the name of the song. again our producers delved into -- liz: which you like? don't you like that? ashley: not all. stuart: there is some room for white album stuff as well. ashley: oh. liz: big body of work. stuart: move on. big board is down 25,392 is where we are. not a huge move for the market thus far. facebook is up, it has reached 181. that is interesting. it is coming back. it was at low of 165, 166. amazon moving up four bucks. amazon, apple, microsoft, alpha bet, down slightly. boeing is down today? why? because there is new concern over china trade.

it is back to 344. china's stock market is down, almost 20%, shanghai market down almost 20%. that is the result of trade. now look at this. headline for our next guest. china is losing the trade war with trump. come on in donald luskin, trend cio. you wrote that, you wrote "the wall street journal" piece. make your case that china's losing. >> the markets are the referee in this cage match. measured in their own weak currency the chinese stock market is 20% off the highs in january. the u.s., back to the highs. the chinese currency just had its two worst, weakest months back-to-back in june and july, in the entire history of china as modern nation. you add that to the decline in the stock market. chinese stocks in terms of actual global value are down 30%. that is a deep bear market. that is because mr. market is

judging that the u.s. can take a little tariff pain and win this war. china is so frag fill, it is a big, top heavy, debt laden prison state. if it experiences anything even remotely looks like recession with any kind of unemployment, the real risk in china is you got civil unrest and strike and repression. oh, my god, anything could happen. china ain't going to win this one. stuart: from a political standpoint you think president trump should stand firm, don't blink, let china blink because they have the most to lose, is that where you're coming from? >> exactly where i'm coming from. china knows it. they see the stock quotations, currency markets every day. i love it a couple weeks ago the new governor of the peoples bank of china who is like the new newbern bern or jeh powell, comes out says the economy was fundamentally sound. who is the last guy that said

that? herbert hoover. this is the kind of desperate ploy they have come to. stuart: but china, you know, they can't blink publicly, that would be a huge loss of face for president xi. he can't lose face, that is very important in asian culture. what are they supposed to do, how do they back off gracefully and not publicly? >> the great thing about china being surveilance police state is that people in china have no idea what is going on in the world. so xi can go to washington, debase himself with president trump, do whatever it takes to end the trade war and bo back to china use the state controlled media to declare victory. they banned the new walt disney movie, "christopher robin." they have a war on pooh going on.

saving face is easy. stuart: at the end of the day america wins? >> a trade war is like a chegg fraternity drinking game. tariffs are a little bit of poison, attacks you impose on yourself. it hurt as little bit. you take a drink, the other guy takes a drink. you take a drink, the other guy takes a drink. who falls down first, depend on who is the strongest. china is really, big, poor country that just two generations ago was starving. we can win this drinking game. they are going to come begging for terms before the midterm elections in the united states because they know that that is when victory for trump will be valuable to trump. the terms of surrender will never be better before november. stuart: that is fascinating. david, that is really fascinating stuff, expressed in strong terms we appreciate that come back soon. we like your commentary on this as we run along. >> thank you. stuart: i do want to take time

to get to northern california. the wildfires rage on. 260,000-acres burned in mendocino county. adam klotz is with us. is weather going to give any relief to northern california? are we going to get any rain up there? >> stuart, it is being a lot by lack of rain. it is being driven by incredibly warm temperatures. those continue right now. these are the current numbers, getting down in the desert southwest, 94 degrees, the heat is going to continue. before it is all said and done, we'll run up into 100, 114 degrees in phoenix. 90s up and down the entire coast in california. that is what we see today. 98 in sacramento. 102 in redding. northern california is where you see a lot of fires. unfortunately that continues. these are the monday highs. tuesday, warmer in northern california. numbers up to 106 degrees.

numbers up to 105 degrees in northern california. we have heat wave, stuart, no, we don't have any rain in immediate future. it will stay hot and dry without the any rain in the future. stuart: thank you very much indeed. breaking news coming in here. new sanctions on iran just announced. are these new or the old oneses? ashley: making good on their threat to do so, at one minute past midnight tonight these measures take effect. they will sanction iran's gold and precious metals. outlaw purchase of iran's sovereign debt and motor sector. they are doing this because they pulled out of the nuclear accord. unless tehran meets what the administration demands, stop support for militant groups in the middle east, ending enrichment of uranium. a stronger round will go they have 5th, this is the next round this is a biggie, basically trying to shut down

iran's oil exports around the world that will be, ratcheting up even more economic pressure on a country that is already on its knees. stuart: a lot of pressure. liz: why iran was practicing swarm of drones and boats showing it could shut off the straits. stuart: oil is down, because of restoration of sanctions on iran with more to come. got it. here is a threat, you hack into your electrical grid we'll stick it to you, okay? we're speaking to i think to russia there. we have more on how we'll stick it to them. go. reporter: hi, stuart, some of the penalties the administration is considering would target individuals behind the attacks not the entire country. they're not looking at hitting back at another nation's electrical grid but they are looking at legal crackdowns, indictments, tracking down individual hackers and having local authorities arrest them, asset seizure and sanctions of the whole idea to deter bad

actors from meddling with u.s. infrastructure from the start. it was triggered by a sweeping cyberattack from russia where hackers gained access to the control rooms of u.s. electric utilities, giving them the power to cause blackouts. now the department of homeland security says potentially catastrophic attack triggered this new strategy to focus on aggressive is deterrents before something worse happens. dhs partnering with state, treasury, defense, to come up with a forward leaning strategy. deterrents isn't enough. utility companies and national infrastructure advisory council to the president the threat to america's electrical grid is so serious, the u.s. needs to be prepared for a catastrophic power outage. in a letter to the president, the council writes, cyber capabilities of federal agencies are divided uncoordinated, duplicative, making them insufficient to address sophisticate the cyberattacks. a cyberattack on infrastructure puts private companies on the

front line. they think we need to be prepared if something does happen. stuart: stuart: hillary, thank you very much indeed. there is a russia meddling threat i understand. i will shortly talk about italy. it is very important for europe and repercussions would be very important to us. italy is proposing measures that could break up the european union. doesn't get much headline, but it's there. nigel farage will give us his take on that in just a moment. first one former republican congressman says if you're conservative and someone calls you a name, don't back down, stand and fight. will make his case next. ♪

♪ ashley: tax exodus is very real, according to grover norquist, president of americans for tax reform who told us americans are literally fleeing the high-taxed blue states. take a listen. >> they are dying. if you are looking at california, illinois, new york, new jersey, there is net migration out of those states. there is a great website, how money walks.com. and it shows you both the numbers of people leaving high-taxed states and the annual income they take with them when they move to texas and tennessee

and florida and north carolina. so because there has been happening it is more credible to point out if you speed up the destructive high-taxed policies you will speed up people leaving. ♪ and at expedia, we don't think you should be rushed into booking one. that's why we created expedia's add-on advantage. now after booking your flight, you unlock discounts on select hotels right until the day you leave. ♪ add-on advantage. discounted hotel rates when you add on to your trip. only when you book with expedia.

stuart: rite aid, not a very rosy forecast. in fact a very bad forecast. the stock is down 10%.

rite aid is back to $1.65. going the other way, seaworld, a surprise increase in attendance there, and the stock is at a four-year high. it is up 13% as of right now. our next guest, he has got a message for conservative students as socialism is on the rise. he says, don't fall back when people call you names. i wonder if he is saying stand and fight? here he is, alan west, former florida congressman and a military guy. are you saying stand and fight literally? >> well, i think it is important, good to be with you, stuart. i think it is important when people come out with names as racist, sexist, islamaphobe, homophobe, xenophobe and all things i've been called, sellout, uncle tom, oreo, you should not back down, you continue to engage to look for the debate.

what the left wants to do is cause a lot of young people on college campuses to self-censor. you see rise of group of ant antifa, with oxymoronic term which is the focus on the word moron, these are fascists trying to shut people down. stuart: in the past, certainly up to the last election in 2016, when though names and labels were thrown out there, as you say, sexist, racist, homophobic, that really did shut down the debate because, basically if you came up with an expression or a statement which the other side said is racist, you get shut down. but what's mechanism for opening up debate? stand and make your point, keep making your point? >> that is important especially on college campuses and universities. i was speaking last week in washington, d.c. for the young americas foundation which does a great job getting conservative

thought leaders and speakers on these campuses, and lots of times you have this pushback, because you know, let's face it, a lot of these kids, they are being stirred up by professors and even the administration there, saying they should not be able to speak. give you a case this point. i spoke at st. louis, university a couple years ago, the president of the universities, one of the other administrators says i had no grounds to speak on any subject of foreign policy and national security why? i mean i'm a retired military officer. i used to serve on the armed services committee. stuart: yeah. that is ridiculous. that is absolutely ridiculous. the decline of free speech. here is my question, alan, are you running for congress again in to 20? >> you know something, stuart, you just finished talking about venezuela and i will never forget january 1985, when i went through check point charlie over in east berlin, i took an oath to support and defend the constitution, the great united states of america against enemies foreign and domestic.

i look what is happening in our country and i am willing to get back out there and seek political office once again. so we'll wait until after the midterm elections. we'll make a firm decision. stuart: but you're thinking about it strongly, yes? >> thinking about it very strongly. stuart: glad to hear it, allen, see us soon. allen west. good stuff sir. >> thank you. stuart: total switching of gears here. former boy band member tried to bite iconic "brady brunch" house in california. what happened? liz: now a big fight. his name is lance bass. with the big boy band 'n sync. through a big party, hey, i got the iconic "brady brunch" house. it has been around for decades. it is in the san fernando valley. turns out he think as hollywood studio outbid him. he put up a long note on social media, saying, marcia, marcia, we were told we got the winning

bid. our hearts were broken. our bid was passed over. we were outbid by somebody with unlimited resources. we don't know the name of the hollywood studio. they are worried it could be torn down. watch what it was sold for in 1973? 63,000. it went for 1.9 million. bid higher than that. he outbid 1.9 million. stuart: why would you tear it down if the value inherent being the brady house? >> this is rumor flying around. they are worried it would be torn down. ashley: rumor. liz: i know. that is what lance bass. stuart: totally leaves me cold. liz: i tried. stuart: musician kid rock, getting involved in michigan politics endorsing that man, john james for senate. kid rock's not alone. the president is backing him too. we'll have mr. james' competitor on the show next. ♪

stuart: you know overall the

market has come back a bit. the dow is only down 25 but we still have three of the big five technology companies moving lower. they would be apple, alphabet and microsoft. they're down but facebook, amazon are both up. better profit at tyson. they got help from the, excuse me, cattle costs. this stock is up nearly 4% on tyson. very close to 60 bucks a share. michigan senate gop primary, it is tomorrow. president trump endorsed candidate john james. here's the tweet. john james who is running in the republican primary in the great state of michigan is spectacular. vote august 7th. rarely have a seen a candidate with such great potential. west point graduate, successful businessman and a african-american leader. here is john james talking about the long list of backers. roll the tape. >> i've been endorsed by the american conservatives, right to life michigan, national right to

live, susan b anthony, exclusive endorsement of vice president pence and donald trump. i believe my understanding how business works, supply chain management, understanding how to create efficiency and effectiveness enables me to help save the president's again day, there is a long list of endorsements and talents of the gentleman right there, john james. let's bring in his opponent, sandy pensler. welcome to the show, sandy. >> great to be with you. stuart: how do you compete with that? >> look, my business background is completely superior to john's. john came into his family company and has misstated his business background, the division he ran shrunk, he is year-and-a-half out of business. he doesn't understand the economy. he doesn't have any policy issues whatsoever. he is, i have a positive plan to turn around the budget deficit.

pensler plan. up on my budget. it show as path in four years to balance the budget. i turned around and advised some of the largest companies in the world. worked with ge, sprint, time warner, chrysler. i started my own company from scratch. so the american dream for me was starting my own company from scratch, advising some of the largest companies in the world, but as i have gone around the great state of michigan, people are a little afraid that that accessibility of the american dream is getting more and more remote. now the president's made some great progress with cutting regulations and decreasing taxes but there is a ton more to do. we're, people are worried about debts on their kids that will just crush their opportunity and education declining because we reward senority versus performance. stuart: okay. how much are you in line with president trump? john james is clearly a trump

kind of guy. are you? >> on policy issues i think the president has been spectacular. and i have been saying that throughout the entire campaign. i think his movement to reduce taxes, to stop immigration and really, i think, the next leg is going to be to cut the deficit. so i think the president's programs have been very, very good today. stuart: okay. the vote is tomorrow, august the 7th. we wish you well. thanks for joining us, sandy. >> i appreciate you having me, thank you very much. stuart: as you know pensler's republican opponent i don't know james he appeared on this show last week. we reached out to the incumbent democrat senator debbie stabenow for an interview. we have not heard back from her at this point. coming up a editorial on new jersey's democrat governor phil murphy approving a five million dollar plan to subsidize local newspapers, subsidizing local journalists.

are we talking about a government press corps? we're talking propaganda surely. my take after this. note ♪. and i treat my mbc with new everyday verzenio- the only one of its kind that can be taken every day. in fact, verzenio is a cdk4 & 6 inhibitor . . ved, with hormonal therapy, as an everyday treatment for a relentless disease. verzenio + an ai is proven to help women have significantly more time without disease progression, and more than half of women saw their tumors shrink vs an ai. diarrhea is common, may be severe, and may cause dehydration or infection. before taking verzenio, tell your doctor if you have fever, chills, or other signs of infection. verzenio may cause low white blood cell counts, which may cause serious infection

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call and ask about saving $500 on your walk-in bath, or visit kohlerwalkinbath.com for more info. stuart: you will hear a lot more about this all across the country, local news is failing. newspapers that use to inform about your community are, indeed, going out of business, so they need a bailout, a taxpayer bailout, really? it has started and it started in new jersey. the democrat governor persuaded the democrat legislature to put $5 million into, quote, community journalism. they will create a nonprofit consortium that would fund reporting projects and bolster civic engagement, that's government news by any other name. what kind of news will this consortium be approving?

gee, do you think they will support me, articles about the tax xod -- exodus that are coming to new jersey, no, i don't think so. they won't like that. no, this is an excuse to turn new jersey even more blue than it is already, lock in a permanent leftist culture all in the name of supporting journalism, what nonsense, when the government state or federal puts out news, it's actually putting out propaganda, the government approved news will conform with the politics of the politicians in charge and in new jersey that means democrats. i will say more about this later, third hour of varney & company is about to begin. [laughter] stuart: well, i cut myself a little short there on the new jersey propaganda machine,

however, josh judge -- judge napolitano will join us and give us full take on this, i mean preety -- pretty sure he agrees. let's bring in our next guest who says do cautious, the good news has been priced into the market already, that man right there is jonathan hoenig capital hedge fund manager, you say lighten up on stocks, tell me first of all why? >> now is the time for caution, i'm not a nay sayer, but at the time the good is news, very good, in the last 5 minutes president trump is on twitter talking about the record numbers and the strong economy, he's right, but you to put it in context, we are near 10, 10-year bull run, 10-year expansion in the economy and stock market and especially when i see the leaders, facebook, tesla, twitter that have been the

big-growth leaders, doesn't mean you hate the president or the country, it's a good time for most folks to sit on hands when it comes to risk and put more in the kitty when it comes -- stuart: put more money in the kitty, i think you're saying, pay down your credit card debt, pay down debt if you possibly can, so take your profit, take it out of stocks, pay down debt, that's your policy? >> well, listen, i will quote the president, i think this is a big-fat-ugly bubble, it's a dent bubble, stuart, in terms of government which is spending at record levels, but when it comes to consumers as well, it's not mortgage debt, it is credit card debt, a lot of folks are living beyond means, they are going to struggle to make 7, 8, 10, 12% in stock market, pay down credit card debt, stuart, now the time. i don't believe in warren buffet's politics but right when it comes to market that you want to be greedy when others are

fearful, now the news is bullish and most time for most folks to take care of stuart: jonathan are you one of those debt bond guys, student debt, credit card debt, government debt all the way around the world is just so huge so astronomical that at some point it's got a bust, are you one of those guys? >> there is no such thing as free lunch. this is not on old saying, the first rule of economics, stuart, when we know government hassan rouhani artificial in manipulating the money, the supply and keeping interest rates low for the better part of decade now, i do think they'll be coming up, i don't know in higher interest rates, higher dollar, higher commodity prices, knowing that the news is good, just keep in mind, the ciem to - contrarian is when the news is good, it's time to take

defensive measures. stuart: can you give me 20 seconds on tesla, i think you would say sell that thing, don't go near it, give me your reasons. >> another example, great company, great promise, the bloom is off the rose, i don't think you want to buy weak stocks, i don't think you want to buyers, this is one if you don't own or if you own it now at small loss, take the money and run, there's always a bull market somewhere, tesla, fakebook, the last bull market, you should start looking for bull markets. it's like making argument for cisco, that was the growth stock that was dead money for 14 years after the 2000's high, facebook and the fangs, companies will still exist but the stocks will be dead money for a while. stuart: i put some dead money into microsoft 20 years ago and it was dead for 15 years, came out all right in the end but i do take your point, jonathan, i really do.

thanks, jonathan. i want to turn to wells fargo, it says a glitch created a lot of foreclosures, not sure what the glitch was all about, a lot of people paid a nasty price. susan li is with us, number one, how many homes were foreclosed and what was the glitch? 625 homeowners qualified for relief with well fargo loans for -- you can't get your home back, right, wells fargo says it's not 100% correlation, the glitches do not directly correlate for foreclosure, this adds to pr tarnish that continues opinion wells fargo, on friday paying $2 million in fines linked to financial crisis in 2008, this

is unprecedented by the way, the federal reserve invoking this rule on wells fargo after numb rues, numerous glitches, bad behavior by employees and we have a rundown by what we see on the scandals that were involved, auto loans. stuart: terrible pr. the stock can't break out of the 50-dollar to 60-dollar range because they face litigation risk, i mean, they there are going lawsuit city. >> clamp on the amount that they can grow. but worrisome because wells fargo is largest credit card issuer in the united states, they have the largest amounts of interest bearing assets in the u.s., what does that say when you can't grow assets any further? stuart: the fed says you can't grow assets, vs. very unusual for you to say that. the ceo will step down october the third, i see a shift here, a

lot of big-food companies, lid, which have changed the person at the top. >> yeah, she's the eighth over the last year or so. stuart: what's going on? >> amazon getting all of the information about the changing food experiences that consumers want putting it up in the cloud and beating everybody to the punch, when you look at it, what happened was for 30 years it was status quo in the food industry, the processed foot giants got bigger and bigger and amazon starts seeing and tracking what people want with cloud data and lo and behold it's coca-cola, starbucks, pepsi and campbell soup. stuart: it's retreat from processed foods? liz: going back to boutique shops, oh, my god here comes the processed food giants, now they are going towards the little

guys, organic, food experiences, taste experiences they want. >> i know the millennials, is that where you're going with that? stuart: you pay 20% extra to buy organic? >> yes, i do. stuart: lizzie? liz: yes. ashley: no. i'm old school. stuart: yeah. [laughter] ashley: not worth all the extra. >> your health is not worth 20%? you're not buying that? you don't want to eat antifertilizer. stuart: look at me. [laughter] stuart: i've got some video for you, i hope i can time it right, a fan tries baseball with a bucket of gravy cheese fries, the fries all over the field, the poor guy gets whacked in the face, this is a mariners game, by the way, he still walked away with 25-dollar gift card.

>> is that organic? stuart: he lost his cheese fries, president trump going after lebron james over comments he made during interview with cnn, lebron said he wouldn't sit down with the president if he were given the opportunity. a story that's not getting a lot of coverage, italy proposing financial measures that would effectively break the european union, nigel farage on that coming soon. here is a look at the white house is not a bed. it's a high-tech revolution in sleep. the new sleep number 360 smart bed. it intelligently senses your movement and automatically adjusts on each side to keep you both comfortable. and snoring?

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but when it comes to my financial future that's something i don't want to play around with. it feels like our current economy is built on a house of cards. what will be the one event that causes the entire thing to come crashing down? our national debt is growing faster than ever before, we're well over 21 trillion dollars. our unfunded liabilities total more than $113 trillion. the stock market been going unchecked for so long that a major correction is long overdue there. so will it be the housing bubble? maybe a trade war? a fail in the banking system? and unexpected action by the federal reserve? a terrorist act? or maybe it'll be the cyber hacking of our biggest institutions. you know the plan truth is no one knows which will be the one card that brings it all crashing down, and when that happens how will the markets react? will your money be safe? if you're interested in wealth insurance for your portfolio, and you don't know where to start, pick up the phone right now and call america's gold authority. - [male narrator] today u.s. money reserve

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sweep out the fascist march, you can imagine when the two groups got together, 20 people arrested, a slew of weapons were confiscated to baseball bats, fireworks, listen, what's interesting is i go through the story and looked at many other places, they have not saying how many were the basically antitrump and protrump people arrested, we know 20 were arrested, they give names and ages, not sure which group belonged to which, we know that some antimarxist were speaking and the other group called them immediately you are a white supremacist, you're a nazi, same-ole rhetoric if you're a trump sporter, that's where it began on sunday, went downhill from there. stuart: certainly did. liz: tolerant left. stuart: story that doesn't get much coverage, italy proposing some financial measures that

would effectively break up the european union, doesn't get much coverage, joining us nigel farage, european perilment member and fox news contributor. nigel, i don't want to get too much in the weeds of financial measures, one they may hold referendum and if they did hold referendum and asked people, do you want to stay in the union or get out of it, that would be the end to have european union, are we close to that break-up? >> brexit was the first brick knocked out of the wall, italy could be the second, the point is this, you know, i agree, let's not get too technical about it but the italians have got a new government that people voted for, they are proposing a budget that brussels the unelected bureaucrats are on the vernal -- verge of rejection, that really, stuart, is what this is all about, are we as

individuals capable in our own countries of deciding our futures or should somebody else living elsewhere make those decisions and ultimately, you know, italy is not going to leave the european union any time soon but inevitable you can see the european project will be lucky to survive more than a decade. stuart: as i understand it, european central bank has been manipulating in the background to support italy's debt, the banks are a wash in italy's debt which is down through floor and that's the process by which you could have another financial crisis, all about italy's financial developments. >> oh, yeah, look, over the course of last 2 years, many of the smaller italian banks have gone to the wall with many of those holding money in terms of bonds having lost all of their money. there's also been, you know, a

secondary bank collapse in italy and, again, you made the point, none of us talk about italy, it's a country of over 60 million people, third biggest member of the euro zone and maybe italy is the biggest pointer in terms of where we are going in the west of any other country. what it says is the voters have had enough of the establishment and that's why they won, that's why brexit won and that's why trump has now got 50% approval ratings. stuart: by the way, britain's trade minister leam fox says looks like failure to reach a brexit deal, negotiated brexit deal, what does that mean? they are going to leave and that's it? >> what it means that the european union, the bully boys, the thugs as i call them in brussels have been unreasonable that there's no deal that leam fox can count this time that would be consistent with the aims of brexit vote nester that referendum, so what you're going

to see in september or october is either we break completely with the european union on the basis no deal is doable or the british prime minister makes a humiliating climb down and surrender to the anger of middle england. all of that to come in london in the next few weeks. [laughter] stuart: i'm waiting to see what happens to our financial markets here in america if you get that kind of break over in europe, nigel, thanks as always for joining us, i want to see you soon. >> we'll see. stuart: thanks, nigel, rivalry between wal-mart and amazon that's been heating up recently, wal-mart is get intog the -- getting into the meal kit business, we have the story for you, president trump blaming california's environmental

policies on wild fires, the president is taking on the environment, blaming them for the fires, is he right? now, take a look at los angeles, no fires down there in the south and it's a pretty reasonably clear day at 8:19 a.m., los angeles.

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people, they think a lot of time to figure out who their core customer is and they do pretty well. stuart: 15 minutes, one pan and two servings. ashley: 24 bucks. good-quality food. stuart: whatever you say, ash. ashley: i've never had it. [laughter] stuart: i have to get this in, good news for chocolate lovers, nutella, you know how good it is, well, they are hiring taste testers. liz: you have to go to italy. what are we waiting for? you know, this is -- i love this story, for the first time they will have regular consumers taste-testing products, they made chocolate. ashley: what does it pay? liz: no experience necessary, i don't know the pay yet, i will get right back to you on that. wow, what a story, could get hired by nutella to test taste. ashley: where do i send my

resume? stuart: would i be pay in euros or italy will leave european union? i will take dollars, please. this i find incredible. facebook wants big banks to share your financial information with them, in other words, they want the big banks to tell facebook what's in your checking account, what's those credit card transactions, can you believe that? we better talk privacy at some point in the program. state-funned news coming to new jersey, i say it's actually an excuse to turn the state more blue than what it already is, i'm sure the judge will agree with me, it's government propaganda, get out of here. new york city, little hazy, the temperature will go to 92, 93, it's hot. ashley: tomorrow? stuart: hot. [laughter] (phone ping)

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stuart: while the market has come almost back to break even we are only down 4 points and it's an even split winners and losers among dow 30, president trump has tweeted on the economy, here it is, great financial numbers being announced on almost daily basis,

economy has never been better, jobs at best point in history, fixing terrible trade deals is a priority and going very well. immigration on merit-base system to take care of the companies coming back to usa, presidential tweet, maybe it helped the market. california as you know now devastating wild fires grew over the weekend and president trump weighed in with a tweet. here it is, california wild fires are being magnified and made so much worse by the bad environmental laws which aren't allowing massive amount of readily available water to be properly utilized, it is being divert intoed the pacific ocean, must also tree clear to stop fire spreading, larry elder, a guy who lives in california, larry, the president has come right out swinging and blaming the greens for the environmental policy, blaming them for those fires, how do you see that?

>> well, i wish it were that simple, stuart, in fact, there are a lot of factors that are causing the fires which happen every single year in california, the primary one are conditions, santa ana winds, dry condition, we had drought for a long time, down power lines and you get the fires and many of the fires by the way are caused by human error, it's debatable whether a down power line is human error because these power lines could be built underground the problem is much more expensive to do but much safer to do that and then you have people move into fire prone areas, more and more people having homes destroyed because they are moving to fire prone areas, these are the factors that are causing all of this. california california i'm sure in california they are saying it's global warming. [laughter] stuart: that's what they are saying surely. >> that's what the governor is saying, of course, they always

call it on climate change and it's nonsense, we have no evidence whatsoever that the fires are caused by climate change they are being caused by elements that i mentioned, human error, arson, moving to areas that are prone to be fire and the weather conditions that i mentioned, strong winds and dry conditions and you have this perfect storm that happens almost every single year in california to say because of bad environmental policies is wrong otherwise we would solve it. stuart: okay, i've got you. you're an la guy, lebron james is an la guy. >> he is. stuart: called president trump divisive in an interview for cnn. president trump fired right back, lender roan james was interviewed by the dumbest man in television, don lemon, made lebron look smart, i like mike as in michael jordan who he believes is a better basketball player than lebron james.

since lebron is an la guy and you're an la guy who are you going to defend lebron or mr. trump? >> first of all, there's no love lost between don lemon and me. when i heard donald trump call him the dumbest man on tv i echoed the thought. the reason trump was oh upset is because lebron james said it was trump who was using sports to, quote, try to divide us, close, quote, trump is not the one who took the knee unless trump made him take the knee, that's what bothered trump, it bothered trump that don lemon referred to donald trump as racist, journalist referring to trump as racist, donald trump is a racist, for lebron james to accuse trump of causing division when it was the players who took the knee just made trump very upset and i don't blame him. stuart: is this dislike of president trump really that common amongst black folks in

america? actually the popularity of trump is rising, his popularity probably twice of what it was a few weeks ago, it's about 3 times what it was when he got elected, even though trump is making comments about marks axine waters having low iq, people ignored the fact that he called robert de niro low iq and nancy pelosi, the last i looked, they were not black. stuart: you got that one right. larry, we will leave it at that. see you soon. >> my pleasure. stuart: i want to get back to my editorial, it was a rant at the top of the hour, the gentleman on the left was governor of new jersey, he will bail out newspapers in the state of new jersey, he's going to fund with taxpayer money these failing newspapers, look, i call that government news, i call it propaganda, let's see what judge andrew napolitano says. speak. >> i'm smiling because i was once the target of many of these newspapers when i sat on the bench in new jersey, i'm very

familiar with them and i'm familiar with editorial policies and i'm familiar with many of their reports, the thought that they would be funded by my taxpayer dollars is utterly repellant and beyond legitimate role of government in a free society, it shouldn't be picking winners and losers, we call that corporatism, we have seen that in the past, it doesn't work, it just shifts the burden from a failing industry or failing part of industry to the taxpayer but this is far more dangerous and i think you used the word in your rant, you're so excited during the rant, i can't remember anything you said, i think you said and if you didn't you characterized this where the positive pays for the means of communication, that is extremely dangerous in a free society. stuart: russian word for truth, the name of the principal communist party organ in moscow.

>> correct. whatever the communist party wanted to stand for irrespective of the truth. right. how about letting the people sell a product and letting the free market decide if they survive or fail? stuart: right. >> rather than taxpayers unwillingly paying money to support a dying newspaper. stuart: all newspapers will support democrats and giving democrat money. >> phil murphy is trying to do jerry brown with radical, crazy left-wing ideas. stuart: don't get me started, judge. >> we are both land owners in the state of new jersey, what they do to us is horrific. stuart: that is true. >> neither of us -- stuart: i have to get your comment on this. >> okay. stuart: facebook is asking big banks, give me the financial information of your bank

customers, tell me how much they've got in bank accounts, where do they spend credit card money, that's outrageous, judge. >> i could not agree with you more. one, if you accept a certain app that facebook is giving you, you know that facebook will communicate with your bank, two, they'll be asking for the data without proper names so we have 150,000 depositors and here is how much they spend the money, that gives them federal privacy laws and go to next step, ready for this, here is stuart varney's checking account balance, now we know it's more numbers than you've ever seen in one total, here is how he spends his money, the little that he spends, here is what he does with his credit cards that would profoundly violate state and federal law but that's one step short of that what they're

asking for. stuart: that is true, one step short but it could come next. >> yes. stuart: that's why facebook stock is way up. can we put it up on the screen, look at that, up nearly 4%. >> what is facebook saying to the banks, we will help market to people what the products that are appropriate for them, you know what i will choose for myself, i don't need facebook or chase -- i'm just picking on chase, to tell me how the spend my money. stuart: big brotherrish. >> this is big brotherrish without the government. where te government ought to be protecting us because the right to be left alone, right to privacy is a natural human right and the government exists to protect and secure our rights. stuart: you real that in total three hours we have been in agreement. >> what about the necktie? >> i will sell it to you. [laughter] stuart: thank you, judge. >> you're welcome. stuart: i have to talk to you about blue apron, analysts are

positives about changes that executives say are in the works, it was down 30% last week, it's down another 5% today, i don't know where this all comes from, ey are making changes, it's not working, down. parent company of rubbermaid, sales falling short and the bankruptcy of baby r us hurts product because they sold a ton of products however it works. ashley: i'm with you. stuart: i don't get all of this stuff. it's down 13%, shall we leave it at that. that's a selloff. shares of print and t-mobile are up, regulators reportedly see a need for more competitors in 5g, that boosts the chances of mergers, both stocks up sprint and t-mobile. possible to buy fur coat in los angeles, leaders there want to ban the sale and manufacturer of

fur in the city. i don't get that? i don't understand. they are going to ban it but soon be able to buy it, that's a contradiction? we will sort it out from alexandria ocasio-cortez to cynthia nixon, the left embraces socialism, we have a guy that says trumpism beat democratic socialism every day of the week, he will make his case, all right, here is capitol hill. ♪ ♪

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surpasses analyst estimates of 20 -- over 20 and a half percent, this certainly outpaces what we have been seeing but better tax rate that boosted

profits but also some companies saying that they're going to boost prices included kraft heinz, disney to name a few

stuart: there is a report that iranians are hoarding goal this comes as more sanctions will go into effect on the at midnight, but what is this about hoarding

gold? >> inflation double digits going up, inflation double digits going up. the iranians believe that gold is store of value so the demand of gold bars and coins have tripled in iran year over year, they actually mined and minted excuse me 60 tons of gold in the second quarter in iran, so people are running to get gold bars in coins there as real has been cut in half. stuart: classic defense against inflation. ashley: telling fox news blocking the strait would be worst mistake. stuart: okay, iran sanctions reimposed tonight at midnight. ashley: yes, indeed. stuart: take a look at the headline why trumpism beats democratic socialism, the writer of the op-ed joins us now, frank

berkeley, the author testify book, the republican workers party, interesting. frank, it seems to me that what you are saying is economic growth beats free stuff, trumpism beats democratic socialism, that's what you're saying? >> it's more than that. don't worry about ocasio-cortez she's an idiot and having her 15 seconds and that will disappear. the interesting question about trump is how does trump differ from anything else that went before and everything else that went before was, you know, right-wing orthodoxy among conservatives but trump is different, trump is a nationalist, what does that mean, it means that he's going to prefer american citizens to none americans and that has some implications with respect to things like entitlement policies and the like or health care or whatever, right, so what he would deny nonamericans will pay

to americans, welfare policy that you'd associate it with republicans and called the republican workers party and that's the title of my book. stuart: i would suggest, frank, that we don't use names as you just named alexandria cortez, can you refrain from that, it's a little harsh. >> okay. stuart: we try to avoid that, when you say trumpism beats democratic socialism are you also talking politically because the democrats are going into this election with a strong, strong focus on the left and democratic socialism does that translate into a trump win in november? >> well, no, i think actually they are trying to sneak that one in. they are going into the election with a great deal hatred of trump, a lot of phoney accusations, right, and more or less almost out of the radar people you have people calling

themselves democratic socialists but it's really the party of impeach trump. stuart: that's it, that's what they are going for? >> oh, yeah, it's either you are for or against trump. it's really pretty much that simple. stuart: what about free health care, that's a big part of the democrat push? >> well, it is although they're backing away from it. frankly part of the problem here is the republicans muffed it, they had their chance. recall that what trump said he didn't want to repeal obamacare, he we wanted to repeal and replace it with something beautiful and the republicans missed that one. stuart: what do you think will be the democrat presidential candidate in 2020? >> well, i -- i would pray for hillary. [laughter] stuart: obviously you're a republican kind of guy. frank, we appreciate you being with us, sir, thank you very much, appreciate it. >> thank you. stuart: thank you, i have to check stocks because we have turned around, we were in the

minus column throughout the morning and now plus 6 points, not exactly a rally but we are moving positive. then we have series online merchandise, all being added, investors did like it up until just a few minutes ago, the stock, though, is down 75% this calendar year, will you look at that, sorry in the last 12 months down 75%, that's a drop and a half. then you have movie pass, we have been following this roller coaster ride, it's making more changes to its subscription plans, is that going to be enough to stabilize and keeping customers to jump from ship. not good. there's phoenix again, hot as ever. health and fitness is a big part of my life.

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we have a ban in west hollywood, berkeley, san francisco, animal cruelty, they are saying animals are raised in cages on fur farms, confine today spaces, sometimes they are skinned alive. animal cruelty, often electicuted. >> what about leather pants? they still skin them. stuart: touchy subject. let's move onto a subject that i can understand. they are launching a new pricing plan, susan is here to tell us about it, before you launch, susan, for the benefit of our viewers, a movie pass you pay a monthly fee, 9.95, it was, at least, that entitles you to go to a different movie once every they every month. >> they are changing from 9.95 -- stuart: why are they changing? >> because they are burning cash

at $45 million. they can't afford it, they needed emergency loan just to stay in business at a really high interest rate. stuart: what a stupid business plan, didn't they know what they were doing? >> tell me how you really feel. stuart: if i paid 9.95, going to see a movie and the cinema where i go has to be paid by moviepass. >> full cost. stuart: 15 bucks in new york. moviepass is under water. >> when they bought moviepass a year ago they dropped the price, 40 to $50 a month and the reason they dropped the price they thought they could get more subscribers in, that is the case, 3 million subscribers which is up, 3 million subscribers up from hundreds of thousands a year ago but the finances played into it and if you're losing that much money per movie, i think their thinking is people don't see that many movies, how many people go to one movie a day,

they calculate 8 can -- 85%. ashley: you're losing money. liz: in new york city $15 a ticket. stuart: ticket prices are cheaper, say 8 bucks, you're still losing money. ashley: you are going to more than one movie. stuart: what were they thinking? what's the alternative? >> amc came with 19.95, three movies a month which is still higher than moviepass, if you want to see more than three movies you have to pay extra on top of it. this is erratic shift in strategy, they were going to raise 14.95, that's been scrapped, so in two weeks we are looking at three different strategies and this company, you know, this is a balance sheet, you want to look at ugly brans sheet this is one of those for 2018. stuart: that's really staired, isn't it?

subscription services for movies, i think are a very good idea but they have to be priced right. >> i completely agree. like a netflix idea for movies. liz: we have the pricing early bird special, i'm all about that. stuart: i am mr. early bird special. [laughter] ashley: quote of the day. [laughter] stuart: i like to eat dinner at 3:30 in the afternoon. >> i asked stu if you have seen mission impossible? [laughter] stuart: we will go out in sixth avenue new york.

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stuart: we started out this monday morning on the downside. i think the worse loss was around down 40, maybe 50 points?

something like that? we came back again as of right now we're up 25 points, getting close to 25,500. connell mcshane. see what i do for you in. >> see if we hold it, stuart. i'm connell mcshane filling in for neil. we'll talk about some of the factors that could slow us down. we'll talk about tariffs here off the top. we'll talk about iran. a lot of news on iran today. hacking story coming up a little later on. we're on it. impacts wall street and your wallet. first to the president. arguing tariffs will help pay down our debt. that was his argument over the weekend. it comes as u.s.