accountable and hold other government accountable before they ruin the city. >> real estate part of the economic story here, final thoughts real quick. >> homelessness is another problem i think voters heading out there to vote. >> i love our viewers one of them said about secretary mnuchin haven't priced me rei bar has he lately? [laughter] >> have a great day everybody. here's "varney & company" stuart take it away. >> good morning maria inquiring minds want to know has euphoria from trade worn off already because initial 500 point rally has indeed retreated look at this to get things going. we will open lower today not a huge selloff but what you're looking at is different from a runoff 24 hours ago. the dow at the opening bell will be down about 80 points. the nasdaq down about 22. not a huge selloff. now look at this. interest rates going down, what does that mean?

is it a signal for recession? is it a flight to the safety of treasury are bonds? i can't answer the question. but i'll tell you now that people on show today see no recession at all. 2.96% on the tenure treasury bench mark interest rate down. i think on the other hand very is is strong tumbling gas price down 55 days in a row. the average nationally is now 244 in missouri arch is $2.the 03 a gallon. and there are 26 states to have at least one station with the buck 99 or less. the price of oil, little change this morning. even though opec is committed to cutting production 1.the 3 million barrels day. can they make it stick? american frackers would love to produce more. and how about france? macron gas there is $7 a gallon. president macron has just abandoned his plan to impose new gas taxes which would have

raised the price even higher. one up to rioters here's a little teaser wait until you hear how much some young people are making on youtube. i tell you these millennials they're good at using new tech to make serious money. "varney & company" is about to begin. solemn moment at the capitol last night president trump and first lady paid their respects to president george h.w. bush lie in state at the capitol building today a funeral service at the washington monumental cathedral tomorrow give me the timetable. >> taken from 10:00 tomorrow morning a ceremony on capitol steps and hearse will depart and head to the washington national

cathedral where the funeral service the official funeral service will be held tomorrow beginning at 11 a.m. by the way, the market financial markets will be close tomorrow as will the u.s. postal service will be shutting down tomorrow. >>market fully closed not all tomorrow. but we with will be on the air. >> we will be here -- to carry you through this now. at 11:00 as we said funeral service will be held at washington national cathedral there will be four speakers -- among those will be john, the presidential historian biographer good friend of george h.w. bush and then former canadian prime minister brian will also be speaking great friends with the former president. he also spoke by the way at reagan's funeral service back in 2004. then we'll hear from the former senator from wyoming republican alan simpson tremendous friends for george bush they would go fishing and hunt hadding together and very cles andly here if from the's son begins

tomorrow at 11:00. >> what we're seeing now is memberses of the public filing past the casket. >> that will be the case throughout the day today. >> got it. more on president bush joining us now contradict tore james freeman wall street journal editorial page guy it teams so me that left is using -- the passing of president bush to pile on and criticize president trump. kind of using that as an execution i'm not sure i like that. smg there's a pattern now fair enough when -- someone passes away you naturally remember the good things. but there is a pattern of the press kind of using if former republicans to criticize current republicans without mentioning how much they savage the republican previous republican while in office. pane i think while we can certainly talk about president bush's dignified well mannered persona at the time the media cut him in quarter in terms of his bipartisanship, his

civility. you weren't reading at the time all about that. you were reading about how supposedly out of touch he was and you see, some of these -- fake news that was recycled in the obituaries that there was a famous moment where he supposedly according to "new york times" didn't understand a supermarket scanner it was meant to say that he was a privilege guy who never been in a supermarket it was false. other accounts at time said he was at a convention they were showing him a new technology hasn't been in scanners before. he was short being polite -- seeming mildly impressed but it was created in to this "new york times" story suggesting that this guy didn't understand the average american. >> and now, that they love president bush. and they use that admiration of him as a way of bashing president trump. i mean, right, and obvious. >> you know the bipartisanship that they -- that they want to celebrate him for he was really in many ways

done in by that politically because the press was cheering him on at the time to agree to raise taxes. once he did so they gave him no credit at all. they then savaged him for going back on his tax pledge so -- finally at last i think, president bush getting fair press. >> got it james stay there. more for you in a second let's get to your money money after the trade truce. there's a little retreat this morning. come on in jeff with cornerstone wealth, i read your stuff jeff you say this selloff is overdone. would you for a rally weigh into next year? spell it out, because this is what, i'm sure a lot of our audience wants to hear this. >> sure. well good morning if i feel. [laughter] yeah, i think certainly when you yo look at the tech sell off of 16% or more, everything we've been dealing with, we certainly seen it and feel it was overdone when you look at if i go back to world war ii which is a ways back 37 corrections in the sm

have taken place about about 25 of them have not led to recession. so i think the first thing that indicators of recession are not flashing the red for us. and look at three main indicators kind of the we have a positively slope yield curve. we have the real fed funds rate which is fed funds rate minus inflation still zero below zero right now. and then if you look at really the employment inflation or wage inflation, that tipping point for me is going to be about 4% we're not seeing any of that when i look at the market i certainly see markets continuing to grow. gave us a good opportunity to buy back in. >> now, a lot of our viewers are investing for midterm there are no traders in our audience we would like to have them but most in our audience are investing for longer term so especially within their 401(k)s so how would you invest your -- 401(k) money in this climate? >> yeah. great, great idea great question. first remember the 401(k),

2019 have increased, so we went from maximum 185 to 19,000 and 6,000 on your catchup if you're over 50. so first thing i would say look to increase your -- if you have the opportunity and ware withall increase what you would save increase that savings if you can. where do you invest? northeast investors tengd to be rear view investors that means they look at what happened versus what's expected to happen. with growth economy we feel large growth added with some value mid-cap you know don't forget international when you look at the emerging markets and intr national markets there are pe ford pe's much lower than the u.s. economy. so definitely make sure you have some international exposure as well as some of the margin markets. >> got it in your portfolio. jeff i'm sorry i'm out of time thanks for joining us this morning we like rally and we're glad to hear you think it continue pps good stuff i want to get back to james freeman with a great story.

about pensions for retired government workers. astronomical give me if i feel give me an example of that because i'm sure we can't afford it. >> this is not common but there are people in the l.a. city government making more than one million dollars annually in pensions. there was a recent story of -- of a school superintendent in the chicago area, 300,000 a year annual pension, now, what is not so uncommon now is the six figure pension you have now tens of thousands of retire ared government employees in illinois and california making 6 figure pensions now, this -- this is a lot of money. but for someone who might not think it is that much money, they should realize that if a taxpayer wanted to buy that product, wanted to lifetime stream of payments, you're talking about millions and millions of dollars. the average household and 55,

64-year range has 187,000 dollar net worth in the united states. so what we have is, government workers who were supposed to be in public service oftentimes taking home packages ten times the value that most of the people they're supposed to be working for can afford. so -- >> can't go on. and the unfunded liability it is in the state pensions systems depending on stments are in one and a half to two trillion range perhaps higher. completely unsustainable. i don't know. i'm trying to think of some good news to offer. for the story, but -- >> the retirees -- among them. look, james thank you very much, sir. >> thanks, stewart here's a story about big tobacco. really pushing now into legalized marijuana. this is altria. marlboro are maker looking to buy buy into crowenos so we saw

them leading pot stocks high per yesterday. altr are ia smoking is at a historically low level here in the u.s. so they're looking to get to other properties so they're looking into even buying into the vaping company, joule that's been reported as well. >> so big tobacco spreads its wings to the the vaping business and the marijuana had business. >> kind of predictable and a lot of money. check that market please. we're going to be down but not that much. i got up this morning we're going to be down 200 now we're down 85 and 90. big news from spacex. launching 64 satellites into orbit in a single mission. that's a big deal. this is spacex 19th launch it have this calendar year 2018. look at this. two children dropped off the border wall, literally dropped off the wall in arizona. they fell 18 feet to the ground one of them injured. we've got a border guy on the show today i'll ask him all about that. dropping over the the wall --

violent riot in france over those dual tax hikes now government is caving to the protesters, suspending fuel tax hike. details on that, coming up next for you. i am not for colds. i am not for just treating my symptoms... (ah-choo) i am for shortening colds when i'm sick. with zicam. zicam is completely different. unlike most other cold medicines... ...zicam is clinically proven to shorten colds. i am a zifan for zicam. oral or nasal.

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>> violent protest in france over tax hikes on gas and diesel well the government doing something it be. i believe ashley -- they've postponed the tax price ?fnlgt they've caved but only for now a temporary suspension of the proposed fuel tax hike, they're going to wait six months. so it's not being done away with. it is just temporarily halted but enough to take some of the sting out of these protests. they've also decided not to raise taxes on natural gas and electricity as well. this goes far beyond fuel taxes. >> stew this is economy that's struggling reform to education. you know, labor law freezes on minimum wage freeze on pensions all of this added to anger but

as a real split in french society believes that mr. macron policies favor the rich over the working class. that is -- a they hope this would take away venom from protest and they said it is first step but only a crumb. >> a crumb. stay tuned. yes stay tuned for that coming weekend. we'll see interesting. all right. stay on energy, shell working to cut carbon emissions starting in 2020. and they'll link executive pay to meeting those emission cutting targets. john is with us he's a former president of shell oil. what is this? an oil company caving to the green and walking away from fossil fuels? >> stuart i think, i don't speak for shell anymore, of course, but i think looking ahead, this is to preserve and protect the franchise of fossil fuels into the 2040, 2050 and yongd. if you look at what if you think about how the world will

continue to need oil, the right to operate, the license to operate, is going to require some kind of a -- of an accommodation of what are we doing to get rid of fugitive emission and doing to bring down cost of carbon capture -- these are things that a company like shell can do very well. >> so authorities insist that oil companies sign on to climate change and join the fight against climate change by cutting emissions. the government's insist that oil companies join in. it is actually coming from share hold percent as well as government. so it's going to hit all companies. the u.s. companies are going to be signing up for some kind of pay change as well in the years ahead. >> exxonmobil is drag ared into this. absolutely. >> if they want to preserve the fossil fuel industry we're going to need fossil fuels but in order to make it happen, there's going to be as i said this -- this compromise if you will, on what can the companies do

themselves to reduce the carbon impact of their business operations. and it can be tone. >> i want to talk to opec they meet thursday they say they're going to cut production 1.3 million a day. will they do that? actually do it? >> i think with russia joining forces the way they just signed agreement with saudi arabia, as you know or well inforgroament but in ka hoots with one another they're all feeling pain of 50 dollar oil. >> can they make it stick? who is beginning to cut who is going to reduce are their revenues of their own expense who is going to do that? >> they can actually if they cut enough oil they can make more revenue on less production. if the oil price gets gk to 70 dollars. but won't we? america and our frackers simply step in because we can produce a whole lot more. tnches does open up more market share for us by held by logistic of the oil patch in the u.s. for now. >> but threat of the frackers stepping in is enough to keep price of oil at 53 a barrel and

not shoot it back to 6 -- >> i think we have to see some action own iranian sanctions for that to actually -- to sort all of this out because if -- if we cut back on the iranians selling their oil, that would be helping opec and helping the u.s. as well and hurting iran. but we've given all of these waivers to iranian customers to let them continue to buy that oil so iran is continuing to produce. there's too much oil in the market right now. >> that's right we supply as much as world wants. john thank you, sir. check you later. looking at futures this morning we're down but not that strongly down. 22 points down for the nasdaq 90 for the the dow. a 7-year-old reviewing toys. a teen actor a turned social media star. five guys doing trick shots all together they made 60 million dollars this year. they are the highest paid

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>> four former über employees say that company is trying to stop them revealing, quote, deeply troubling practices and they have filed suit claiming criminal initiatives against competitors secret camables

embedded in über's app. and also offensive intrusions into user privacy these are claim of four ex-security people über says they don't object to making claims but object them to walking off with company property and they claim this is what über is is up to by the way this kind of surfaced a little bit in a lawsuit filed byo same thing that über has aggressive tactics they want to go public next year. >> they have to. and they do that's right. "forbes" is out with its list of high pest paid youtube stars. give me numbers one, two, and three. >> okay so ten billion views 180 million between all of them up 42% from last year let's get to number one to shock you because this is a 7-year-old child -- he's a mini mogul as a i call him toys re view makes 22 million in a year. he has he likes legos, trains, cars, 17 million followers, and

mini mowing pl line of collectibles. number two two brothers by the way in top ten yak is number one amongst two brothers. jake and logan paul there you go so makes 11:million, 21.5 million if you ever watch any of their videos, you know, they're kind of like performers dude perfect 21 million last year five man sports grew specialize in peats of dexterity and trick shots, and this is a lot of money for or very young people. >> entrepreneurial spirit lives. i kind of like it. i have to say by the way just coming in new tweet from president trump. here it is. looking forward to being with the wonderful bush family at blair house today former first lady will be coming over to the white house this morning to be given a tour of the christmas decorations melania where elegance of the last two days have been remarkable that's from president trump moments ago. more varney after this. only half the story?

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all right what do we got here 30 second to go and this market will open. we're expecting it to open a little lower i've got mike murphy sitting next to me. rubbing his hands -- there you go. end the day higher.

i do. okay we'll get to you in a moment and hold on while i open this market. 12 second to go. well we count it down. a very strong rally yesterday at this time, up 500 close with a gain of under 300. so some of that gain has been away, how do we start today? we're off on downside. down 66 points 67 points and wait until all of the dow 230 stocks are open. and then we'll have a firm idea of how this dow industrials have opened up today we're down at the moment about one-third of one percent. with three dow stocks still to open. that's down 85 points as we speak. two still to open. i have to move on down 85 points. one-third of one percent, s&p down just over a quarter of one percent that's not a big selloff. 8 points down. nasdaq composite this always fascinates me this is where tech stocks are. we are down half percentage point and interpret that as the

techs doing worse than anybody else. horse a number that may move the market today. certainly has some influence. 2.95% that's the yield on key bench mark interest rate that tenure treasury the fact that it is below 3% is very forgetful. money is going in and yield goes in. fun for safety. i haven't opened show yet. >> the reasoning yet. but we will -- mike murphy is here to my right. dr barton is here to my left suzanne lee ashley webster they just broke into it -- but first of all you mike why are we not getting more of a pop from trade truce? >> market is up about 4.5% in last trading session so last week you have a 4% move it is expecting nice good outcome from there. and we've got a good outcome we weren't going to walk away with a signed trade deal or signed deal so we have the ground work for a deal.

we have positive news out of china this morning that they're looking at already talking about -- covering their ip theft better. so that's a positive. so we have a big rally yesterday. we opened up over 400 closed up 250. 250, 300 so selling off a little bit this morning. >> not a big deal. not at all. why did we get more of a pop for trade truce? >> we have a big pop yesterday manager and i think reason it has come down since then is -- twofold, the markets don't believe that it has any peace yet. they have we have the whole he said, trump said she said -- [laughter] saying going on there, that they don't believe it and reason i know that is because soybeans did not go up yesterday if this was a really good treaty for a numbers going forward, wealth have seen soybean take off and they haven't. >> so we still going to go a bit higher? >> a lot higher for sure. >> i think bear sentiment people

were positioning so negatively going into the g20 and dinner -- that i think they were just caught flat-footed on monday they thought to reroute some of the money into some of the, you know, risk that they missed out on pop down 60 points and up 300 yesterday down 60 in the very early going this morning. let's deal with interest rates. a yield on tenure treasury 295 as we speak all right dr. does this mean that we're going into recession or does it mean there's a lot of money flowing into treasury securities as a flight to safety? >> i believe it is the ladder stuart and we've seen that this change in interest rates in this way when the short-term interest rates and long-term interest rates get closer to each other, when the difference gets closer, that has shown a proclivity to reare session later. that's what people worried about that's what got the big jump overnight that has traders talking about this. but i believe it's nearly a

short-term flight to safety. >> behind curtain number three you have a lot of shorts in the market ahead of the g20. nothing, no major negative news out of there so short is covered they go in to buy prices go high per yields go lower. this stuart we're talking about 3.1, 3.15 on tenure derail market value and now 2. 5 on tenure is a negative -- it's not. everything is fine with the economy. >> that's a fair point 295 as we speak. maker of marlboro cigarettes newscasting in marijuana, tell me whats that. >> survival story is at this point because we have historically low smoking rates in the u.s. so what do you do diversify get into the cannabis canada just legalized this year second country in the world to do that and many more states are jumping onboard as with so there are reports al tee ya is early staged discussion ises with cronos knowing has been confirmed os e tree ya looking at a minority stake joule

reached it was i think the fastest to reach 10 billion four time faster than facebook did. >> what is altria game plan? >> to make money and people are getting away from smoking cigarettes no longer cool for the the the younger generation. so they're figuring out what's going to be cool. this is a great move for them. the jewel thing if it goes through will be a good thing for them and this move boo cannabis it is necessary for survival. >> we took a leg down now we're 107 points on dow industrials. just literally moments ago we were down 60 now we're down 104. okay individual stocks here we go. dollar general, they've cut their full year forecast because of higher costs. when you do that you stock tends to go down dollar general down 5% what's the next one we've got here. okay we've got autoa zone. higher sales, that's looking good for the stock it's up nearly 6%. the price of oil holding around

53, 54 a barrel. 5320, even though opec meets thursday and they say they're going to cut production. still at 53. the price ofs gas down for 5 straight days now. 244 is your national average. favorite story of the month. [laughter] white house economist and a frequent guest on this program larry kudlow he says president trump wants to end all obama era electric car tax credits. okay, what is the fallout from that state? >> not to even get into the legality and the legislative side of this it is interesting some people claim that they're doing this to get at ge for removing jobs, but strangely enough, because of the way gm thank you ash. strangely enough the way the credits fall in, that gm has already gotten almost all of their customers have been able to get that 7500 dollar credit so other companies who are just cooling into the market vw and

others would be hurt i this. there's a limit. 200,000 and 200,000 that rebate basically tapers off and gm is going to hit that by the end this have year tesla already reached that last winter. >> so we can say that over the longer term that tax credits for electric cars are going away. either by presidential fiat or going to run out of time or gas that's what's beginning to happen. correct gm by the way, the chief there mary barra is going to meet with ohio senators i think that will be tomorrow, i guess she's is trying to -- maintain the cuts in ohio despite the only decision of senators she's going to be on hot seat. >> i was going to say. she's going to try to keep the -- keep we're trying to make progress to your stance while they're going to be saying you don't do something other thingses are going to happen and that's going to be a -- standoff tomorrow. >> it will be a standoff indeed i wonder how it will all work out. her argument will be in the

long-term we have to make this move to -- to go into the future of electric cars and by doing this, ultimately we'll be generating billions of invest the and more jobs you have to stick with this during this period. >> going to have a really hard time filling that argument. >> but gm has punish of statements saying that most of the job losses they'll try to reroute factory workers and lost their jobs to other plant. that's what they're trying to do. pulling back a little bit there. okay, look kroger they're turning into real interesting company latest news from kroger is a deal with walgreens to sell groceries in pharmacies. what? >> these are two companies trying to compete with amazon amazon just moved into the the grocery business with their purchase of whole foods now moving into the drug business more. i don't think it is really beginning to work. i don't think too many people are going to do you go grocery shopping either into a grocery store or you go online now through amazon to buy groceries. consumer behavior is a tough thing. >> other side of that number

9,s 560 walgreens stores if in the u.s., they want to put about 4,000 square feet worth of produce and ready to eat meals so that things that you couldn't normally get at walgreens or neighborhood store to spread that out to compete with amazon mike said. >> it is called kroger express and debut this at 13 walgreens in cincinnati where kroger is head quartered to try it out if it works people take to it they'll panged it. >> kroger is trying everything. roughly a third the selling space will be kroger express this is more of a foot traffic at wal-mart you know most that goes into the stores, to buy grocery. >> got it. how about this robot dhl investing 300 million in robots for warehouses wal-mart planning to deploy 360 janitor robots by end of january mopping floors in wal-mart that's interesting. i say robots yeah, robots are taking away manual labor.

entry level low wage jobses they're gone going to robots. >> they are but i think if you look at the big picture of the country stuart i think there's a lot of jobs like we talked about about autonomist drivers but now drivers for trucks are getting paid 6 over 100,000 jobs in certain states to drive cars so although robots are coming in and technology is disrupting everything in your lives if you live in united states of america there's a job out there for you. >> robot made -- [laughter] high per level jobs. higher level jobs. >> that's right look it is 9:40 already doesn't time fly when you're having fun i have to say good-bye to mike and dr gentlemen thanks for patience. down 80 points up nearly 300 yesterday, we're down 92 right now after the first ten minutes of this business. here's something the left doesn't really want to get out there. census bureau numbers show two out of three grants take some form of welfare, 63% take

something out of the system my take on that, later this morning. the president of france caves after week of riots over fuel tax increases, we've got nigel taking on the show today. i'll ask him about that. yeah there will be more varney after this.

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oral-b. brush like a pro. here they come presidential tweet number one, quote, the negotiations with china have already started. unless extended, nay will end 90 days from the date of our wonderfulling and very warm dinner with the president xi and argentina. bob lighthizer working closely with steve munn chin larry kudlow wilbur ross please notice the ...at the end there there

might be a second part of the tweet coming we get it we'll bring it to you real fast. market took a leg down when that tweet came out literally second ago, now we're down 129, 25,700 or thrct we're keeping a close eye on three big tech names apple, amazon and microsoft all buying for total of most valuable at this moment in time within most valuable is apple at 861 second is amy dison third microsoft 156 billion marriott making amends what are they going to do? >> but under pressure to do more so now they'll say they'll pay for new passports of customers who may be a victim of fraud as a result of this breach. more than 500 million people had their data pex posed as many as 327 million. they've had their passport

numbers stolen. this goes back to 2014 but was only detected last september. so, they're under pressure to do everything they can to make amend as for this but really it is the booed now trying to come up with ways to -- help customers out. >> well we're going to get more on data breaches in hacks coming up in our 11:00 hour. we're talking to the top data breach guy at the credit monitoring people. he's out with his data breach forecast for 2019 wait for it. he says hackers might hack a cell phone carrier and disable all communications in the country. that's very scary stuff. he'll make his case 11:30 earn time. get to economy phil was with us chief academic market strategist with with investors. all right sir i read your stuff. >> thank you, stuart thanks for having me back. >> you're welcome with stuff like this you see no recession

in 20109 or 2020. right? >> correct. the risk are of recession we think is out maybe in the 2021 to 2022 period so we think we've got pretty good role at a near trend line over course of next couple of year. >> what's this about interest rates we have tenure treasury of 295 a lot of people say that is a signal of recession down the road. you completely discount that? >> well, with market is telling us us is that concern about a deceleration in economic growth but we've got a 325% for bench mark tenure treasury this is year. 325 that's upper limit there. we hit that level a couple of months ago but the market -- treasury yield have slid over the course of the last couple of months so market is telling us they're concerned about a deceleration in growth, and the risk are of recession in 2019 given that you disagree with that. >> look, market is strong rate of unemployment at a 49 year

rage greet and consumer spending is very strong back to school season was the strongest we've seen in seven year pps we think christmas is going to be comparably strong. given the fact that the consumer accounts for 70% of gdp, we just don't see em innocent recession on horizon. >> so what about the market? if the fundamentals of economy is good does market keep going g up? >> market was weak, the s&p 500 was down about 12%. the nasdaq and russell down 16% over the september, october, november, period. we think that market put in a bottom at the 2600 level and we're getting clarity on issues that concern the market what is fed doing what is beginning on with with trump an trade what are oil prices doing? and is those issues are now getting some clarity, we think we've achieved that sort of double bottom retest if you will and we're looking at a year end rally to take us back to old highs. >> love to hear it phil you said

so straightforwardly strong economy, strong market. love it. mr. orlando thank you for joining us. >> yes, sir. check the market. now we're down 170 points and this leg south began after president trump's tweet on china trade. investors not too keen on that tweet apparently down 166 that's two-thirds of one percent. the student government at u.k. berkeley has approved a resolution to fund migrant caravan. yep, they did. we'll get into that in a moment.

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horizon and samsung they're going to team up release a 5g smart phone during first half of next year that is big news actually and verizon sup on it. rosie holiday forecast from hardware that works that's up 14% restoration are hardware holdings is parent up 15%. and now this, uc berkeley student government unanimously approves a resolution to fund the migrant caravan. joining now is lawrence jones he's with campers reform a fine group of individuals. [laughter] >> i'm back in studio with you. >> well what on earth is going on here? berkeley funding the caravan people? >> yeah. i know some people say it is

1500 dollars but this is principle of the matter aiding abetting with with so much debt happening in college campuses why are they aiding criminals that come across border? >> tell. >> if the rhetoric we've been reporting on leading campus reform where they believe they're not compassionate unless they aid in the abet these people. they believe that it is racist now to now want strong borders obey the law. look i'm for comprehensive immigration reform but until we get that done there's law it is in place. but clear laws i want to overturn but until those laws are overturn you have to comply with them. >> yes, just that nc state we were reported on professor saying just let them come on in talking about the migrants coming across board that is not safe allow somebody to come into your house without vetting them first? >> not practical you don't have a country if you don't have a real border. >> that's the heart of the question. do they believe in american valley do they believe in american principle and they don't because they believe

america is bad right now. and that it needs to be reformed. even the constitution is i have another one for you from another campus princeton university you're familiar with disney classic little mermaid right well a cappella group puts on performance of little mermaid and final song one of the songs is kiss the girl. they used to have a couple of members of the audience a woman come up on stage, and audience would shout get on with it. kiss the girl. that song is out of the performance. >> cohearseive. >> no it's not if she's a willing participant and she say it is okay but they want to take all of the fun again i'm a southern guy. treat women with respect no means no. but if she's a willing participate many this, then you know, pucker up. >> wait a second they go further. >> starting to laugh -- they go further. they want to intrude on romantic moves so that you have to ask permission under every step of the way.

permission to hold a lady's hand permission to kiss the lady put your arm around her. with me too movement i'm not sure that's not a bad idea going forward because it only protects man at this point. at this point we're going way too far and a lot of innocent people have been accused of. >> kind of breaks the moment -- >> at this point we should stuart we should make them sign a contract before we get to this. this approved this approved that way we prevent innocent men from being -- >> totally disagree. not saying it is right stuart. >> we are brothers. funny kind of way. [laughter] >> that's right. quickly have you are seen the list of top stars and how much money they make on youtube? >> no. okay well i'll show you rion toys review young manmade 22 million dollar. and really -- second is i think it is jake paul made 21 and a half million. he does crazy stuff dude perfect the 20 million. >> this is free market.

okay, i'm with you. this is what we want now can we get those same young people to believe in capitalism as a whole and not socialism given money back to the government if we get them and >> but i have to say you know you tend to hold guys like me tend to contend millennials. they're entrepreneurial -- that's with that in the head? >> you said you loved the part it is the flavor we have to bring some flavor. >> a nike swoosh? >> that's a part. that's a part. yeah. [laughter] well your time is up. [laughter] i know your mom is watching. >> she's watching. she's all right. >> i know why -- thanks very much indeed. see you soon. >> all right france, caving to the protesterses they suspended that fuel tax increase. well you know it seems to me that greens have a problem here and can't sell climate change solutions to voters more on that. my take in a moment.

. .

stuart: the greens, the environmentalists, i think they have got a problem. they cannot sell their climate change solution to voters. voters won't have it. case in point, france. president macron has backed away from the fuel tax increases he had imposed to reduce carbon emissions. long-suffering french drivers were already paying more than $7 a gallon, there were riots in paris. macron retreats. expensive action on climate change, rejected. same in washington state. in the midterms, voters rejected a carbon tax that would have cost them $2 billion over a five-year period. "wall street journal" reports that the canadian province, ontario is suing the trudeau government to block a carbon tax. voters there don't want to pay. in germany, angela merkel massive increases in energy costs turned voters off.

she is on the way out. just as the voter revolt spreads, trump haters go absolutely ballistic, because our president has withdrawn from the paris climate accord, and encouraged the use and production of fossil fuels. america under trump is actually going the other way. look at this, "the washington post," columnist eugene robinson writes today, that trump is quote utterly, stupidly wrong. no one has time for trump's foolishness. that is what he writes today. in "the new york times," paul krugman, he writes today, about trump's depravity of climate denial. that is really nasty stuff. i don't propose to debate the issue in this editorial but i do think the greens should wake up to their failure. they have got an endless scare going on. they're demanding radical and wildly expensive changes. just look at this, from the u.n. climate chief this week, quote, we require deep transformations

of our economies and societies. okay. but the greens have to come to terms with political reality. they have to get voters on their side. so far, they have not. the second hour of "varney & company" is about to begin. ♪ stuart: this is breaking as we speak. president trump still tweeting about china. now here's the first tweet, this is from the last hour, quote, the negotiations with china have already started and unless extended they will end 90 days from our wonderful and very warm dinner with president xi in argentina. bob lighthizer will be works closely with steve mnuchin, lairky ludlow.

wilbur ross and peter navarro. this is the number two much the tweet. president she panned i i want to deal to happen. it probably will, but if knot, remember, dot dot dot. there might be more coming. if there is a third party, we'll certainly bring it to you. susan: market taking this as a negative. stuart: you're right, susan. the market is taking it as a negative. as soon as the first tweet went out, the second tweet, the market took a leg down. they don't like what the president is tweeting with the china deal. ashley: reemphasizing nine at -0 days. stuart: reiterated 90 days and light highser is there, navarro is there. hard-liners. no retreat for president trump. he is saying 90 days.

susan: they expect the 90 day limit to be extended. seems like a market negative if that does not come, well-done, susan. china expects it to be extended. president trump suggesting maybe not. got it. at the top of the hour i gave you my editorial on the greens, environmentalists, i'm saying they can't sell their climate change solutions to voters. voters ain't having it. joining us now, katie pavlich, "town hall" editor, fox news contributor. where am i going wrong on the green anies? >> i agree with everything and more as usual. the so-called green climate change movement is not about protecting the environment. the reason why they're failing to convince people it is a good idea is for a couple reasons. the first, they demagogue so harshly on their language. if you dare to question climate change, i don't know the founder of the weather channel, one of

the cofounders of greenpeace, you are drummed out of the movement, you are called a denier, no longer al tod have any opinion what might be good for the environment. the thing is they have not been able to sell what the return on quote, investment is for all the green policies. when they go into countries like france as we're seeing say, we're going to put the tax on the middle class and the poor, which doesn't affect people like leonardo dicaprio, arnold schwarzenegger, people meeting in poland to talk about the environment. when they talk about that, they cannot say there will be an actual return on investment when it comes to improving the environment. they conflate pollution with climate change. they act like the united states is the main problem, when stuart, the united states, pulled out of the climate agreement and we're still meeting our requirements meeting carbon emissions while the countries still not in the agreement are not meeting their obligations. there is lecturing and little

results at the cost of the poor and middle class. stuart: there is a lot of scaremongering. >> oh, yeah, not, five, six, seven years ago, we started this program, i was quoting prince charles, we have only 18 months left before we the end of the world. we're all going to drown. >> that has been since the '80s. stuart: come on. >> that is the is thing, right? we had multiple, dire predictions like people from al gore who is happy to make hundreds of millions of dollars selling their company to oil-rich buyer, the hypocrisy is astounding. they're especially trying to make ends meet feeling brunt of carbon taxes which have little to show what they are put on for. stuart: i don't think, forgive me, point me if i'm wrong here, during the midterms, i don't think climate change surfaced at all. that was not an issue. same in 2016. i don't think climate change

featured at all. >> the thing you can care about the environment without buying into this massive redistribution of wealth to, quote, solve climate change. there are a number of people on the other side of this debate that are ignored and marginalized because they have a different perspective on how the environment works, how climate has worked for billions of years and whether man really has that big of an impact on an environment that changes every single day and really that we can't control up to a point. can we control pollution? of course we can. can we come up with new ways to make the air cleaner through innovation and fry market system as we have in america? absolutely. but this idea that they're going to take a global body to enforce every single person to enforce with a climate pact that will have any impact on the global environment is not only naive but has a bigger purpose of more government control rather than actually changing the environment for the better. stuart: i agree with you 100%.

>> good. we like that. we disagree sometimes but always a nice day when we agree. stuart: thank you, katie. president trump finished china tweet storm. this is the final, third in a series. i am a tariff man. when people or countries come in to raid the great wealth of our nation, i want them to pay for the privilege of doing so. it will always be the best way to max out our economic power. we are right now taking in billions of dollars in tariffs. make america rich again. scott shellady is with us. scott, i think you have seen all of these three tweets which seem to be reiterating hard-line, reiterating, you have 90 days to get an agreement, get on with it. it's a hard-line. the market is headed south. what do you make of this? >> i think the 90 day reprieve in the beginning got the market all frothed up but i tell you what, going into this last

weekend we talked about what the headlines may be, nobody really came out and said what if they give extension to tariffs putting in january. it was a little bit of a tweak, maybe no tariffs or not 100% tariffs but not the reprieve. the reprieve caught the market by surprise why we rallied as much as we did. i said this time and time again. i agree with president trump, he is freed trade guy. he likes idea of tariffs because all the money bringing in. obviously he would like to have free trade around the world but obviously that is not going to happen. we have to wind our way through this. at the end of it all these arguments one person tell me why it is a great idea let china be doing what they're doing? why we should stay here and be quiet. there is no cogent argument saying keep the things the way they are. stuart: plenty of people on the program don't like tariffs,

should never impose them, the wrong strategy but none ever come up with a way of getting china to play the game properly and stop stealing our technology and stop the forced transfer of technology. nobody's ever come up with a way of getting leverage on china other than tariffs. have you heard anybody with a better idea? >> no. that's why we're in the situation we're in. because again, nobody has come up with an idea that says, it is okay to let them do what they're doing! it is not okay. but we're only allowed to say not okay. come out pretend like we want something when we really didn't and let the problem expire four years from now. the problem is, there is a problem. we're not coming up with solutions. we're coming up with a tariffs. we need to solve the problem. nobody comes to the table but to say, hey, keep letting china do what they do? no one is up for that. you need to find a way to get china out of the picture. i know his grand plan is to change and disrupt the chinese trade around the world i'm on

board with that because what is happening is not good. i like his ideas. the problem is pain in the short term to get what you want in the long term. stuart: got it. see you scott again soon. >> all righty. stuart: we're down 200. that was just a couple minutes ago. now we're down 170, which is 2/3 of 1%. how the big techs taking this? they're very much involved in the trade dispute here. they're actually lower. i have facebook i here. amazon, apple, alphabet on the downside. but microsoft eking out a 24-cent gain. by the way apple got a downgrade today, kind of unusual, a downgrade from hsbc, it is now therefore the biggest drag on the dow. look at it. that is apple down nearly three bucks a share. i'm sorry, boeing, that was really a high-flyer yesterday on the back of the trade truce. a little pullback today. they're down four bucks at 355. tesla now available in the

united kingdom in britain. they have got these cars actually on display over there. cars starting to be delivered to customers in 2019. look at the stock price. tesla at 364. teflon tesla. susan: very impressive. stuart: now this, video captured at our border two young children dropped over a border fence in arizona. 18-foot wall. a two-year-old and a 7-year-old. i want to know what is happening to our border. i will talk to a border control guy later this hour. remember this video, jeff flock shot this in illinois last week, how farmers were storing soybeans, millions of bushels, waiting for some kind of a trade deal with china. i want to sell if farmers can sell them now free and clear? we'll ask a farmer that question. the media using president george h.w. bush's death as an opportunity to criticize

president trump. brian kilmeade with that. you're watching the second hour of "varney & company." ♪ to support the heavier you, your roof struggles to support the heavier me. crash! and your cut-rate insurance might not pay for this. so get allstate, you could save money and be better protected from mayhem like me. mayhem is everywhere. so get an allstate agent. are you in good hands?

stuart: another tweet from president trump. this is the fourth in the series. here we go. but if a fair deal is able to be made with china, one that does all of the many things we know must be finally done, i will happily sign. let the negotiations begin. make america great again. well, when those first tweet came out the market headed south. it is still on the downside, three or four tweets later we're down 165. last week our own jeff flock showed us how farmers had to store soybeans, millions of bushels of them, you can see them right there, because they couldn't sell them to china. well now, we have a trade truce with china. so can they sell them?

come on in austin rinker. austin, we have a trade truce, can you sell the soybeans to china? >> it is encouraging to see talks between china and the u.s. hopefully we see traders come into the market. hopefully we get back into the chinese market. stuart: do you believe you can now sell those soybeans, your soybeans to china without a 25% tariff imposed on them by china? do you think you can do it now? >> i don't think we can do it now. we'll have to see china pull that off, get their traders back in the market here. exports have been way off. hopefully we get back into the market to get sales going again. stuart: has it hurt your business? >> absolutely. since july we've really seen prices go off where they have been, almost down 20%. beans in brazil are worth a

premium on the market. we had a bumper crop, growing stocks and we need markets to feed. stuart: have you actually lost, you have a bumper crop. prices are way down. have you actually lost money? >> oh, we were fortunate, profitability in soybeans, we had some really good opportunities to forward sell soybeans at profitable levels. we forward sold more beans than what we typically do. as we go into 2019 and getting crop planted and planned for next year, that is where it comes a major concern as we plan for 2019 and beyond. stuart: i don't know your politics but have you stuck with president trump during this difficult time for your business? >> i think farmers just really concerned about profitability and how things go forward. you know all comes back to the farm level, how we stay profitable and that is a major concern for farmers being profitable in the farm economy. we're down about 50% in real

farm income since 2013. soybeans have been kind of carrying the farm for a lot of farmers the last several years. stuart: okay. austin rinker, forth generation farmer, soybeans and corn. we appreciate you being on the show. wish you the best of luck. hope you can sell that product. thank you, sir. >> thank you. stuart: get this, the department of justice has signed off on the merger between cvs and aetna. they say okay, you can do it, however, one federal judge has reservations. he is thinking of calling a halt to the merger. can he do that? we'll answer that question after this. ♪ i'm ken jacobus and i switched to the spark cash card from capital one. i earn unlimited 2% cash back on everything i buy.

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stuart: dow down 200. where's gold? up five bucks at 1245 per ounce. stocks down 200. where's bitcoin? it is right at $4,000 a coin. $3999.22. got it. a federal judge threatening to stop the merger between cvs and aetna. the justice department says, that's okay, you can do it. they signed off on it. but judge says maybe not. judge andrew napolitano is with us. now fox news senior judicial analyst. welcome back. >> stuart. can he do this? stuart: on what grounds can he stop this? >> unfortunately he can. it is very, very unusual area. if you sue me and we agree i owe you a certain amount of money and we shake hands i give you money, the court couldn't care less. if the federal government sues you more for money, and you agreen on the amount the court couldn't care less. if you have a merger, even though the feds approved it, the

judge can second-guess the doj this, judge a george w. bush appointee, found no impediment in at&t and time warner, found what he think is a anti-competitive result. beyond me what it is and he hasn't articulated here. we're talking about a horizontal merger, drug company and health care which already merged assets. he said yesterday i may order you to separate your assets. you can imagine what that is going to cost. it is in a state of flux right now. the entire legal community is scratching their heads, because he hasn't said what the anti-competenttive results he fears. stuart: one judge has to the power to do that, one judge? >> yes. a certain level of influence on the economy occurs, the doj even when it agrees and signs off on the merger must file it with a federal judge for him to second-guess the doj. stuart: why? >> there are two kinds of judges. there are judges who will say,

litigants agree, none of my business. there are judges who say i don't like the deal. i will make them rewrite it. unfortunately for aetna and cvs they have a judge in the second category. stuart: do you think the judge in this case, the federal bench in this case has too much power? >> i do but i'm surprised that this judge who heretofore has been very free market. stuart: look at the impact on the stock there. we have got cvs on the screen. not, down 39 cents. that's nothing. but, if he says, separate your assets -- >> oh, my god the stocks will go way down because of cost doing it. bring them back to square one. he will order them what, restructure the merger? the doj has to look at it again, we'll be back a year from now talking about whether or not the merger can go? leave them alone. stuart: well-said, judge. well-said. >> free market means free from the government and that includes from the courts. stuart: you're all right, judge. back in my good books. thank you very much, sir.

now this, netflix releasing three movies in the theaters, theaters, mind you, hoping to gain some oscar buzz. our next guest says that is a huge deal for netflix and netflix's stock. he will make his case in a moment. president trump honoring president bush, lying in state last night. the media took it as an opportunity to take some jabs at our current president. we're all over that one. ♪

♪ susan: even i know that one. stuart: can't buy me love. susan: true. stuart: can't say that. moving right along. moving right along. check that big board, why don't you. ashley: please. stuart: we're down 150 points. this follows four tweets from president trump on china trade. he appeared to make the 90 day as firm deadline, get on with it in 90 days. market didn't like that particularly. we're down 150. big tech names mostly lower earlier. now we have a mixed bag. facebook is actually up at 142. microsoft up at 112. apple, amazon, alphabet on the downside. kroger, grocery store chain, they have got a deal with walgreens, they will sell groceries in pharmacies. do you think that will work? kroger is a very interesting company. the stock though down on that news. our next guest, well he has been on the show frequently. he seems to like all the

technology stocks, every last one of them, except facebook. ray wong, constellation research is with us now. it is true, you know. you like them all. you have been on the show frequently. you like the lot but not facebook so why don't you like facebook, the stock? >> what i'm worried about on the facebook side the fact they broken the consumer's trust. the privacy issue, pr issue they have to figure out how to solve that they have to figure out what to do on the advertising side and commerce. they are missing a lot of revenue streams especially on the commerce side of and they need to learn how to fix that but it comes down to trust. stuart: suppose the next earnings report shows strong gain in user, revenue base, it is a very strong earnings report, you don't think that would cancel out the bad publicity? >> i think it will help. to show more than 40% monthly active user growth. they have to show growth in the

international regions. stuart: that is a tall order. we understand your point, ray. how about amazon, will it get back to $2000 a share. >> yes, on amazon for couple reasons but the ads are growing double-digit growth. it will hit 11.6 billion with our estimates by 2020. more importantly they're growing the cloud business. if you came out of the conference, they're growing, they are the number one leader into the public cloudmarkket and jumping into the off-line market. stuart: is amazon your number one technology pick because you keep going back to it will get back right up there? >> it is the number one technology pick for a couple reasons. it is basically the standard oil of our generation. if data is the new gold and new oil, they're vertically integrated monopoly on upstream, midstream, downstream for data around consumers and enterprises. stuart: i don't know whether you know the the answer to this quen but i will ask it any way.

why doesn't amazon split in back in the day it would split, pro forma, that is what would happen. why hasn't amazon split at $1763 a share? >> that's a great point. they probably should to break it into four different businesses people figure out what is going on from the ad businesses to consumer business, cloud business and all consumer technologies that would probably help them a lot. stuart: how about netflix? as you know, ray, they're releasing three movies into the theaters before they stream them. i understand they're doing this so they can get nominated for an oscar. is that a big deal? >> it's a big deal because there is a content war going on between disney, between comcast, everybody, apple, wants to get into their business in terms of streaming. they have to attract oscar type producers, those folks want to be in the movies, even though might not be a big box hit. idea get it into theaters to attract content. it is part of longer term oscar

strategy. oscars snubbed them, not being to release first, wait 90 days. they will release first, wait 40, 50 days, jump back into the stream. stuart: do you think netflix is releasing oscar-quality movies? >> i think they're attracting oscar quality talent. i think they're looking close. roma looks interesting. we'll see what happens when they dot release. with that in place, they're scheduled to grow, 35, 36% growth in subscribers for q4. stuart: whoa. okay. you really like netflix. big growth in subscribers. you really like amazon going back above 2000, but you don't like facebook. we'll wrap it up with that. go ahead, last word to you. >> yeah, i am the issue is coming back to trust, privacy, downside on amazon is privacy with alexa things listening into your device. we're getting worried about that. i'm glad america is waking up privacy is important, make sure we protect that on the digital

side. stuart: i don't like that in big brother. ray wong, we'll see you again soon. >> thanks. stuart: how about this? at&t and netflix reached a deal to keep the show friends on netflix. ashley: because when it was announced before, this may happen, this may go away at the end of the year. a lot of people complained, don't take "friends" ended the run in 2004. but it is still very popular. at&t, who owns time warner, will have the option to take quote friends put on own streaming service it plans to launch in the fourth quarter next year. the question will they allow netflix to keep it, will they share it, whatever? at&t will hold the cards on "friends" at the end of next year. stuart: susan, you're smiling. >> it is very expensive. i love rachel green and group, $500,000 an episode, how much

netflix paid back in 2014. i imagine that residual tapered off. ashley: still very popular. >> they're still making. stuart: i watched two episodes with my 20 something daughter just the other day. laughed out loud. the writing, the, it was excellent. >> first time you've seen "friends"? stuart: not quite. look who is us now, live on radio, brian kilmeade, host of the "brian kilmeade show," welcome back, sir. >> my listeners say good to see you too. >> this is simulcast "fox nation" to fbn. a lot of fox. stuart: first time. glad to be pioneers here. bring on the covered wagons. president trump paid his respects to president bush last night but it appears to me the media is using the passing of george bush to beat up in a nasty way president trump. does it appear that way to you?

>> yeah, no question about it. listen, president trump famously talked about how bad after war the iraq war was. he indicated bush 43 might have lied before 9/11. leading up to the 9/11. could have done more. and then you have jeb and trump famously tank felled for about eight months. so i get it. the president did make a dismissive remark about 1000 points of light. the big picture, the way both families seem to come together in the last few days, i'm going to emphasize that. they're having a closed-door meeting today. the president showed up yesterday. indications were from the bush family we want to you come to the funeral. there will be no anti-trump talk. again the bushes can't control what other people say but i think it is really takes a lot for me to understand now that the media now loves bush 41. they mocked him. they ripped him. i reread jon meachum's book on bush 41. he was just as critical of the

press as donald trump is though he kept it to himself. he didn't tweet back then. there was no twitter. stuart: do you remember when george bush, this is way back, he went into a supermarket and appeared, according to "the new york times" he appeared to be confused at the scanning of the articles in the grocery store. "the new york times" was all over him. oh he is out of touch. he doesn't know what he is doing. rich guy who never goes into a grocery store, doesn't understand money and scanners. back then, the media really didn't like george h.w. bush. now, they think he is just great. which he, he is great. >> right. stuart: but they are using him. just for a second, i want you to take a look at joy behar on the "view" getting into a shouting match with meghan mccain about this. watch this for a second. >> if i ever become a one-issue voter it will be about pollution and the green house effect

and -- >> can we focus on the president, please. i don't want to talk about trump. we're honoring a great president. >> excuse me, a second, please. i want to talk about -- >> we're honoring i'm not interesting in your one issue. >> i'm not interested in your one issue. >> i don't care about either. >> we'll be right back. stuart: you saw it brian, what do you make of that. >> we'll be right back, opposed to jumping in like a moderator is, that is interesting choice. meghan mccain is actually right, saluting somebody for the life's work, do you have to dump on trump again? by the way if you want to talk about that issue because you are superior moderator and you do like to sometimes listen to people, that one issue is being lit up right now but the people of paris, france. they are upset about that one issue that joy behar will vote on. the whole carbon tax, green economy, paris climate change. they're going to start fining people, upping prices on fossil fuels. guess who that hurts? middle and lower class people.

the horrible rich people can afford tax increase. so what president trump was trying to say, others trying to say, is that we should really think about how we're approaching global warming. stuart: by the way macron has caved. he has withdrawn the tax increase on gasoline and diesel. brian out of time i know it. >> you sure we can't blow a commercial and continue. i'm enjoying this? stuart: you have to run commercials. you know how that goes, brian. good to see you. >> absolutely. stuart: another day, another hack. question and answer site, kuora, hackers got personal data up to 100 million of its users. next hour i talk to someone who has a very grave prediction when it comes to hacks. a major wireless carrier will be affected could disable all wireless communications in the united states. he will make his case next hour. check out the extraordinary video from our border.

two children dropped off the 18-foot wall in arizona into america. i talk to the head of the border patrol council about that. i want to know what is going on down there? check out the big board. we're down 145 at the moment. ♪ with liberty mutual new car replacement, we'll replace the full value of your car. ♪ liberty. liberty. liberty. liberty. ♪

♪ ashley: royal dutch/shell says it is working hard to cut carbon emissions. former shell president john hofmeister explained why. take a listen. >> looking ahead this is to preserve and protect the franchise of fossil fuels into the 2040s, 2050s and beyond. if you look at what, if you think about how the world will continue to need oil, the right to operate, the license to operate, is going to require some kind of a, of an accommodation on what are we doing to get rid of fugitive emissions? what we doing to bring down the costs of carbon capture and sequestration? these are things that a company like shell can do very well. ♪

♪ ♪ ♪ this holiday season, families near you need your help. visit redcross.org now to donate. our new, hot, fresh breakfast will get you the readiest. holiday inn express. book now for at least 20% off during our annual sale. so many interesting details. ancestrydna was able to tell me where my father's family came from in columbia. they pinpointed the columbian and ecuador region and then there's a whole new andean region.

that was incredibly exciting because i really didn't know that. it just brings it home how deep my roots are and it connects me to them, and to their spirit, and to their history. this holiday, give the gift that's connected millions to a deeper family story. order your kit at ancestry.com. stuart: president trump hosting a meeting with german auto executives at the white house today. blake burman is there. who will be at the meeting, blake? reporter: largest german automakers, top executives for daimler, volkswagen and bmw will be headed to the white house, talk with some of the top members in the trump administration. they will be on one side of the table, on the other side, commerce secretary wilbur ross, his trade representative, robert lighthizer, larry kudlow will be among handful of members of the

administration. the official line from the white house the german automakers are coming to the white house to discuss r&d and investment opportunities, manufacturing, as as you know, stuart, president trump threatened possibility of increasing auto tariffs on european union. the german automakers i'm told are on board with the idea of dropping tariff levels. you can imagine that is part of the discussion. stuart: blake you got that right, sir. see you later. customs and border patrol in arizona releasing this video. it shows two small children being dropped over the 18-foot, there you go, 18-foot border wall by a smuggler. joining us now, brandon judd, national border control council, president and active border patrol agent. brandon, well tom to the show. >> thank you. stuart: that is kind of a shocking video. does that kind of thing happen often? >> it does on a regular basis. the good thing about it, the numbers are not what you would see in areas that don't have the

walls. so you can show how effective the walls are. the other thing when you look at that footage, we were able to get our agents to that location almost immediately to take those individuals into custody and to put them into the proper processing position. so, but you also have to remember that wall was the old prototype. if you look what president trump is trying to do, he went through proper r&d. if we had his walls on those borders, that would not have happened. stuart: got it. now the migrant caravan, plural, maybe, caravans, have arrived at the border. i want to know how many have actually gotten through? do you have any idea how many have gotten through because we're supposed to be stopping the lot? >> if you look what they're doing, they're separating, spreading out, crossing the border illegally instead of going through a port of entry and properly presenting themselves for legal admission, they're spreading out, going to the east and west, san ysidro

port of entry and crossing the border illegally. there have been a couple of thousand actually crossed the border illegally, of the several caravans that have come up, i shouldn't say several, of the few caravans already reached our border, a couple thousand have already crossed illegally. stuart: how do you know that you have got a couple thousand? >> when we take them into custody, we process them, ask them specific questions. we look to find out if they did come up with the caravan? in that processing it is determined whether or not these individuals that crossed the border illegally did come up with the caravan. a lot of people we're arresting right now, from san diego out to yuma, starting to spread into the tucson sector, a lot of those individuals have come up with the caravan. stuart: some may have gotten in, but you didn't stop them, arrest them, didn't get them? >> well we did arrest them. obviously there are going to be some that get away because we don't have the proper technology on the border such as the wall

which we continue to advocate for. there are going to be those people that cross the border illegally, they will get away from us without detection. the vast majority we are detecting, taking them into custody. stuart: brandon, thanks for updating us on the situation down there. we'll stay in touch. brandon, thank you. >> thank you. stuart: a congressman is on a mission to declassify hemp at a federal level so it can be cultivated as a cash crop. next week it could become law. we're all over this story after this. ♪ hi, i'm joan lunden.

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stuart: there is a breakthrough. verizon and samsung teaming up to release a 5g smartphone during the first half of next year. investors like it. verizon up 1 1/2%. got a rosy holiday forecast from the parent company of restoration hardware. that works. that stock is up 16%. now this, hemp, the sister plant to marijuana. doesn't get high. hemp is legal in 42 states. the farm bill could make it legal at the federal level.

our next guest promoted hemp as a job creation crop. he is on a to declassify it federally. joining us kentucky congressman james comer. congressman, welcome to the show. let me see if i got this right, hemp doesn't get high, doesn't contain thc. smoke it you get a sore throat, it is no good, hemp does contain what it is called, cbd. that is good medically. have i got that right? >> you have. cbd stands for canabo oil. it is popular. include, healing ailments, epilepsy, inflammation, popular all over america. stuart: do you think it is if it was okay nationally as opposed to 42 states, it's a business that would take off? >> i do. not only it is a good product,

something creating new opportunities for farmers. it is creating new opportunities for manufacturing jobs. here in kentucky we are the epicenter of industrial hemp. kentucky is a huge success story. we were the first state to legalize hemp. farmers are having great success with it. rural communities are creating jobs through manufacturing and processing facilities and the consumers have a great product much better than what the current big pharmaceutical companies can produce. stuart: who would oppose this? if it doesn't get high, not a drug in that sense at all, who opposes this? >> well there are a lot of older members of congress that are from states never had the industrial hemp debate. they still get confused between industrial hemp and its evil cousin marijuana. there are a lot of close-minded members of congress have had objections to it, but with senator mcconnell's help i think we're close to making

industrial hemp reality all across america. stuart: let me switch gears for a second. you want hemp, you want it national. what do you say with recreational marijuana, with thc, gets high, what do you say to that going legally nationally? >> i think that is a states right issue but when you look at medical marijuana, and industrial hemp, industrial hemp can do everything medical marijuana can do, from a pain standpoint, industrial hemp doesn't get high and it is non-addictive. i don't think there needs to be a debate about medical marijuana because industrial hemp can do everything medical marijuana can. stuart: james comer, thanks for joining us. i wasn't aware of the difference between the two plants. thank you very much sir, appreciate night thank you. stuart: the census bureau numbers from them, show two out of three immigrants take some form of welfare. two out of three immigrant households. 63%.

that is 4.6 million non-citizen households. how do you feel about that? how does that factor into the immigration debate? i've got an editorial on that, coming up, top of the hour. ♪ ..

stuart: you won't read this in read this and the leftist media could you want find it on democrats required reading list but you should hear it the left doesn't want this to get out and here's what they don't want to get out. census bureau numbers show two out of three immigrants take some form of welfare. 63% take something out of the system. baby food stamps, maybe medicaid, may be cached from the earned income tax credit program. more points 6 million immigrant

household get something from the american taxpayer. two points. number one. this turned immigration policy on its head. we welcome a million immigrants a year on the ground that they help us. we do not welcome a million but we can take from us. illegals get around the welfare rolls by using their american-born children as a gateway to the welfare system. if that is gaming the system at our expense. it shows president trump is right. his immigration reform would allow was to choose who we want to come into our country appeared surely we would choose people who would contribute rather than take anyone to want to stop illegals once and for all. now what is wrong with that? isn't it obvious you can't have open borders with the welfare's date especially when your country has close neighbors at a much lower standard of living. as a financial bottom line to

this. you can't afford it. there is a moral bottom line. dependence on handouts is just plain wrong. either way, 70% of immigrant households are on welfare if they've been here for 10 years. that is long-term dependence. you want that? we had to dig deep to find all of this. you won't see it on the evening news and not too is wrong. we cannot fix immigration of welfare dependent and it's caused his left out of the debate. the third hour of "varney & company" is about to begin. ♪ stuart: you heard it, kind of a rant. elizabeth make donald is with us. more information about these noncitizens. >> when you look at the numbers it's astonishing, eyebrow raising. they are getting welfare double

the rate of a natural born citizens are getting -- nativeborn. two thirds are on at least one welfare program. it's about dirty 5% are native born americans. when you dig through the numbers you got to say to yourself it's illegal, guest workers, green card workers getting welfare. double the rate for food stamps. for medicaid it is double the rate of nativeborn. this is important to have this conversation now because states like california say we want all illegals coming into california to be put into that program. some of these states are already turned upside down as fiscally insolvent. >> you made a very key point. this is why we want the type of immigration that welcomes people who want to contribute and not take. that was the key item from your

editorial because that is why australia, canada and other companies have a very strict policy of who they let in. people who have qualifications and want to thrive and produce -- liz: ashley is absolutely right. it's in the 20th century in the 19th century u.s. law was if you came here for welfare as an illegal, you would he deported. you would not be allowed in. it turned upside down over the last decade. >> this environment today is racist. stuart: that's wrong. >> it's immoral to -- where were the racist charges over the last century, 20th century by democrats and republicans are having the same take on it saying no to welfare for

illegals. >> this immigrant is on the same page as my colleagues on bernie & co. check the big word stock down triple digits today. our next guest says he is still bearish despite the trade cease-fire with china. look who's here sitting next to me no less. dennis gartman, editor and publisher of the pertinent letter. i know you've been bearish for sometime now. what would it take to make you say, change my mind, i think things are looking better. we're going up from here. >> all the stock markets around the world stopped going down. it is really quite true and it's been a bear market since january 29th of this year. i keep a simple index of the largest stock market they reached their peak collectively. we are now down 14% from that in collective terms. anything beyond 7% to me is demonstrably bearish. it doesn't seem to want us out. the mac until they turn around we don't. >> plus you have to see the

adjusted monetary base. if there's one statistic you need to look at its on thursday afternoon that the federal reserve with the adjusted monetary base without getting too esoteric has been declining since april 2015. it went from 400 billion to 4.3 trillion, and i'm not was what was needed during the recession. a ticket although three to four to 4.3 trillion now three points 6 trillion. as declining. the fed is allowing those position. that's money in the system as long as their demand for equipment and labor which there is the economy strong. only one thing can happen if there is less money in the system to stop the equipment and labor stop prices decline. stuart: that the statistic you watch. >> i'm fearful it may be another year or two before turns around. i pay more attention than what the fed does that the fed funds rate.

what it does with its balance sheet, consequential. stuart: the only guy who's been on this program without getting the buzzer. >> the fact i shot the guy who holds the buzzer. >> last time you were on you told her audience you are buying oil. our audience doesn't buy oil. they are not commodity traders. are you still buying oil? >> oil prices to a level without getting too esoteric the manner in which the fragments are trading against the back month tells me it's time to polish of crude oil. it is where the informed sophisticated money leaves its footprint than that began to change about two weeks ago even as prices were collapsing. i thought those were coupons on the long side and it's proven to be the right place to be. the announcement not so much that qatar has dropped out of opec, but the fact that a left-wing government

>> is someone you would not expect that from. a strangely right-wing province. stuart: they did it for global -- >> i'm sure that's why they have announced it. cartman is now with the greenies. >> no, that will never happen. i'm a believer in climate change. climate is very little to do with us. it has to do with things change. and i walked across a huge shark's tooth which tells me without equivocation a million years ago florida was under water. the climate had changed and they were probably very few automobiles being driven. >> don't does the man when he is talking sharp teeth. >> good to be here.

i've got some individual stocks. barbaro maker reportedly in talks to buy canada-based cannabis company. interesting. big tobacco moving to cannabis. grover wants to start groceries in walgreens pharmacies. the first store opens inside 13 while grants next year. two robot stories. number one, wal-mart to start using hundreds of robot janitors to clean its stores. number two, the delivery system putting $300 million worth of robot into its warehouses. other stories we're watching. in france, gas of course to $7 a gallon. macron has new gas taxes that raise them even higher. riots in the street, macron caves. we are talking to the top data breach guy as experience. the forecast for next year says

hackers could get into a cell phone carrier and disable all wireless communications in the country. we will deal with that. the top democrat on the committee says he wants to bring back the deduction for state and local taxes. i'm all in favor of that. a jampacked hour and we've got it all for you. stay there, please.

stuart: president trump in the first lady paid their respects to george bush as he laid in state in the capitol rotunda last night. moments ago, bush's service dog, slowly, right at the rotunda, too. more news will continue around the rotunda to view the casket. they're expected do so throughout the whole day today.

the funeral will be held tomorrow at washington national cathedral. by the way, the markets are closed for a national day of mourning. we will be on the air you will see all the ceremonies. emmanuel macron expended the gas price hikes to read to riots in paris. nigel for roche joins us now. it was the worst writer. it is not seen since the uprising in 1968. i don't think he was then immediate danger of using the president here, but clearly what

he feared was this green tax that lead people to rebel. suddenly had turned into a paris metropolitan elite versus the rest of france conflict. so far and has president be his face all sorts of strikes, most of them transport unions. he's managed to deal with all of those, that now he's given into one boy. his future is going to be very difficult. >> i have the feeling that climate is a religion in europe. voters there are no longer prepared to pay the price for cram a change. am i right. >> there's no need to have a car because you can get it, whatever it may be. middle-class dinner parties in

small-town france it was 20 miles to get the kids to school in another 25 miles to get weekly shop then you're using an awful lot. that's the reality. the reality of great taxes that lead to a massive transfer of money from the poorest in europe to the richest in europe and many voters are saying we and lay had enough of this. stuart: got it. a member of the european union court says britain can legally just canceled brideshead, walk away from it. i hear you, but there seems to be growing momentum either to roll this thing back or cancel it or in some way get rid of brexit and go back to where we were five years ago. the movement seems to be gathering steam. >> is the establishment and of course they are cooperating, working together all in conjunction. the european union's chief negotiator has been working with the players and others in this century and now we get this

judgment today that says if you want to just get rid of article l n. standard, then that's fine. none of this is any surprise. we are headed over the course of the next couple of weeks for the biggest parliamentary battle we've seen in this country for many, many decades in the big businesses and the big money and the big politics want to stop brexit wants to force us to go for a second time on this issue. i hope passionately that they don't succeed. the will of the people carries out, but i'll tell you this. if they actually think that by making us vote again somehow were going to change our mind, they've underestimated the resolve of the british people. stuart: you sound like churchill affair, you really do. come and see us again because there's a lot going on over there in the next couple weeks. here is where we check various markets for you real fast.

the price of bitcoin almost back. looking now at 12.44 per ounce. valenti also looking for good jobs. this one is for you. we have the five cities that you should be looking now. richard branson expects to send astronauts to space by christmas that is in 21 days. space that's launched a 54 satellites into orbit in a single mission. that's a record. by the way, and the 19th launch of 2018. got it. ♪

stuart: which state spends the most on welfare? new york were $3305 per capita is spent per year. that's according to a city from go banking rates. rounding out the top five, alaska 3000. massachusetts, vermont and minnesota work out the top five.

the worst guy because he could say. in the report looks at the the best cities for millennial. top five on most in the south. fort worth texas, jacksonville, florida, charlotte north carolina, oklahoma city. the report is based on the number of available jobs and affordable housing. makes sense. shortly after landing on mars, nasa's end guide rover is already setting records. it has generated more electrical power is expected to last two years. more space news. richard ranson says he expects to send astronauts in a christmas. virgin took while first-time test pilot to space without any tourist on board eventually he wants to be the first passenger to two or space aboard a ship to

peer potential passenger already prepared to spend to come in maybe $250,000 to secure a seat. here's what his next. we are talking to the top data breach by that experience. they have a scary warning about the major cell phone carrier, which will be attacked and could disable all wireless communications. meanwhile, the market right now shows a loss of 120 points on the dow industrials. president trump is treated about china trade. more barney after this.

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stuart: president trump just waiting on immigration. could somebody please explain to the democrats we need their votes that our country loses $250 billion a year on illegal immigration, not including the terrible drug flow. top border security including a wall 25 billion. pays for itself in two months. get it done. that just came out. reports on a little further down 212-point at 25,600 or the number we were up 300 yesterday

down 200 today. the s&p, where is that on the downside to the tune of .8%, significant loss in the nasdaq composite world that technology companies are located and that is about 1%. our next guest says that 90 day trade with china is a political triumph for president trump. you know it's a big deal because it wasn't even mentioned on cnn's website for the first 12 hours after it happened. donald luskin is here, macro ceo and that's what he wrote on the sign, didn't you? if you really like this deal and you think it's going to be a success, i take it you believe the stock market will go up from here because of the trade truce. >> plenty of tips to buy because this is going to be a rock 'n roll negotiation where trump is going to tweet about tariffs and send the so-called hardliners in

like robert fair, peter navarro because i guess mr. rogers just wasn't available. stuart: he did that today. mentioning that it's 90 days, mentioning that mike tice era, hard-core pride is right at the center of the negotiations in the market down 200. >> remember just six weeks ago the finance minister of china was again we won't even negotiate with you because you're holding a knife to your throat. people don't negotiate with you unless you hold a knife to their throat. it is working, everybody. it's going to be 90 days the theatrics and dramatics on both sides. there will be vilification. people walk away. it will be like i am a used car. i couldn't possibly buy that today have to talk to my wife. it'll come back and they won't do it in 90 days or it will get done on maybe the 92nd day. that's how negotiations always go in donald trump is a great negotiator. stuart: if you're right, that's

what we get after 90 days the market goes up. >> the chinese stock market goes up even more because if trump succeeds in getting china to be less protectionist, who is going to be the biggest winner? china appeared is making china great again. stuart: the fundamentals of the economy in good shape to sustain another upside move. the economy doing well. >> i think so. always some weak spots you can complain about but the biggest threat was the trade war would blow china than they take the world with them and not try to sell off the table. stuart: what about all this talk of a recession because the yield on the 10 year treasury dropped below 3% in the sign of a slowdown of the con. >> in every business cycle in the past in the yield curve has turned negative, that means you only have two more years of the business cycle. so everybody just get a grip. stuart: okay, we like to hear

this kind of stuff. i admired your little piece about cnn not carrying it on the website. you know that i'm the founder of cnn. did you know that? >> you're bragging about it? stuart: it was good for my daylong time ago. thank you very much for joining us. we appreciate it. next case, marriott taking morse is to protect customers who may have been affected by their huge data breach. what are they doing? >> market watchers reporting that if they determine fraud has taken a place, reimburse the average $110 cost for a new passport. stuart: or next guest is going to say something similar not necessarily about the marriott attack but hacking in general. this gentleman named as mr. mike bremmer, correct? you were with six. and you're the guy saying next year there's going to be a major

hack of a cell phone company which will result in the loss of all cell phone coverage wireless communications throughout the nation. you are saying now? >> is part of one of our predictions come in the canadian broadcast company last year talked about the systems are going to have an air, which means if you're not using a vpn or encryption on your phone, the infrastructure could allow you to be tracked, let alone your data be compromised. yes it is possible. it will affect all carriers and all for because they're using the same network. it could happen all ones of the system goes down. stuart: just one hack puts the whole system down. all wireless communications? >> not necessarily all wireless communications, but all the data on wireless could be compromised with one fell swoop. stuart: what does that mean all the data on network could be compromised? >> your phone contains lots of personal identity information,

geolocation tracking, social media information. if someone can hacking your phone, they can download all of that data and that could happen regardless of what type of phone or what type of network. you have about 427 million phones out just in the u.s. stuart: okay, so that will be one hack that gets into somebody's phone, which could then be used to hack loads of phones and take them all down. it is not just one hack that immediately puts everything on the business. >> right. that's correct. stuart: appointed to stop this? >> use encryption on your phone, make sure it's password-protected and if you're using a company phone, make sure the vpn is enabled so you're not just carried over an open network. some of those would require an army of technicians to do that for us. is it easy to do what you're suggesting? >> your phone should be enabled with vpn and encryption

technology is available whether it's through your company or individually and as long as you're using that you shouldn't have any problems with the data being compromised. stuart: have you got in were dire predictions? >> we have a total of five that the other one probably most relevant as we could have a biometric hack because biometrics are used in the airports, banking system, law enforcement, time and attendance to punch in the and of course access to your mobile phone or computer with your fingerprint or iris scan. it just takes a little tampering or misconfiguration without any can someone could get in your phone, bank account, allow you to go through security on someone else's passport like we talked about by marriott. stuart: that could be done? >> absolutely. >> we think it will happen in 2019. >> the factor that would be to compromise all biometrics because they could all potentially be hacked.

>> let's use the example of the copy of your voice print. there's been a scam going around where all you have to do is dance to the phone at a guess they tracked that on your voice print. they can use that with some of your banking credentials to die a limb and say hey, i'd like to do a wire transfer. are you confirming, mr. bremmer, that you can do the wire transfer and copy my yes voiceprint and away they go. stuart: nothing is safe. every system you come up with there some way around that. >> unfortunately that the truth. stuart: we are glad to have you on the show at the news is not that good a thank you for joining us. mr. bremmer from experience. appreciate it. top democrat on the tax writing ways and means committee. richard neil for massachusetts said he wants to renew the deduction on state and local taxes. wait until he takes charge of the committee.

mr. congressman jason smith is a republic enemies on that tax writing committee. congressman, i live in new jersey. i'm going to get clobbered because the salted action is being taken away. i'm all in favor of bringing it back. are you? i'm sure you are. i'm not. i truly am tired of the folks in rural america subsidizing a lot of the higher property taxes on the east and west coasts. what i am interested in and where i think we can find some common ground is to eliminate what i believe is the marriage penalty. under the provision you can go up to $10,000 per household you will, that shouldn't be the case. it should be per person. the tax code should never incentivize behavior in that sense. that is where we could find some common ground that we have seen has been the result of eliminating the virtually unlimited cap on state and local

income tax. stuart: do you know how other democrats on the committee feel about? they are going to be a majority in the committee. do they believe they have a sufficient majority to say were bringing it back. get that deduction back again. >> while clearly the democrats will have the vote. if they all stick together they can completely reverse the tax cutting jobs that and in fact they said when they were running this time, pelosi said they wanted to reverse the tax cutting jobs back. we have assented to belize and the successes and what the tax cut and job sectors doing to our economy. we're the lowest unemployment, high as for the first time in a decade. i'm excited and i welcome the new chairman of this committee to have hearing throughout the year to talk about what is going on with the successes. stuart: is there a majority on the house ways and means

committee in january, incoming new committee. is there a majority that would say gas, let's bring back salt. is there that majority? >> i definitely believe there is a majority amongst the houston democrat to bring back salt. but i also believe in that same boat, they will eliminate the cut to the corporate tax rate. they will also eliminate the cut to the tax rate. stuart: that would make it through the senate. you're quite right. but you know, bringing back state and local tax deduction would make it and i supported. i'll get serious after this. thank you. >> good to be with you, stuart. stuart: in california come incoming governor gavin newsom promising to pull of national guard troops from the border. instead he wants to provide humanitarian aid to the migrants. we'll discuss that one. on the other side, republicans

in california try to get new initiative on the ballot that would switch tens of billions of dollars from aid to local governments from highway construction to maintenance but would also kill the ridiculously expensive bullet train. california is all over the place. we're on it. ♪

liz: earlier today maria bartiromo spoke to treasury secretary stephen mnuchin. listen to what he said about the yield curve. roll tape. >> i don't see the market be an indicator as the future of the economy. i see the market being an educator at what they think is going to occur on interest rates. there's also technical issues as to supply and demand in parts of the curve.

stuart: the incoming governor of california as gavin newsom. he wants to pull national guard troops on the border. he doesn't want them there. he wants to provide humanitarian aid to the migrants. talk show host larry elder with us now. at the end of the day, a california taxpayer will end up paying for these migrants all of them legal and otherwise? >> the short answer is yes. you have to look at this in context.

california is a sanctuary state with local authorities not required to cooperate with the federal immigration authorities. this is a state where illegal aliens can drive cars and the incoming governor comes from san francisco, a city that allows illegal aliens with school-age kids to vote in elections. it is in a serious effort to secure the borders. it's all about votes. as i said many times if illegal aliens turn citians and voters and would be sealed tighter than behind. >> you got me without one. trained to understand that gavin newsom, incoming governor wants to extend medi-cal, the california version of medicaid. he wants to extend it to all immigrants legal and otherwise throughout the state, is that right? >> that is true. there was a proposal some time ago to provide california single-payer. that's going to cost $40 billion all of a sudden i went away. i have no idea what the price tag is for this that it's going

to be substantial. this is a state with unfunded pension liabilities to the tune of a trillion dollars. california cannot afford this get the governor is intent on doing this. stuart: is there a move on the other side of the fence to get rid of, cancel the widely expensive bullet train. is that going to happen? >> well, it's funny. a few years ago the same voters asked to vote against bullet train voted for it. they were told a whole bunch of nonsensical promises that would operate without subsidies, public and private. that it would be a more cost effective than to take a plane to stem with cisco. none of which is going to happen for now the voters turned against the bullet train. remember the ballot initiative to get rid of the gas tax a person is very popular in all the money came in and piled against the than the voters did not vote to repeal the gas tax. wait until all the union money starts pouring in, talking about all the jobs that will create and i suspect down the road

california voters will continue the gasoline tax. hope i'm wrong. stuart: i am rolling my eyes here. you might well be right, larry. you've been right in the past you know. larry elder. >> tell me about it. stuart: thank you for joining us. as there's more in california come in the company mckesson is the moving its corporate headquarters from san francisco to the dallas area, going to texas. the company says it will move most jobs from the bay area to texas by 2021. the stock is up about half a percentage point. now this. you may mail chop -- what is it? labonte -- lavell from the rolling stones. you may know him. he played keyboards for this done for about 35 years. other tours and recordings.

his meeting with secretary of agriculture, sonny perdue. chuck is going to be with us in a moment to tell us what he's up to. ♪ coach mcadoo! you know, at td ameritrade, we offer free access to coaches and a full education curriculum- just to help you improve your skills. boom! mad skills. education to take your trading to the next level. only with td ameritrade. ...that's why i've got the power of 1-2-3 medicines with trelegy. the only fda-approved 3-in-1 copd treatment. ♪ trelegy. the power of 1-2-3 ♪ trelegy 1-2-3 trelegy

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stuart: a big-time musician on the show. he played with the rolling stones for more than three decades. it's also a founding member of the allman brothers band. now he's in d.c. he is going to meet with the agriculture secretary this afternoon. chuck leavell is with us. why has the musician or a meeting with the agriculture secretary? >> stewart's great to be with you. thank you for inviting me on. secretary perdue and i have been friends for many years. as you know he was a two-term governor in georgia. we met many, many times. i'm a tree farmer in georgia and so we've had many discussions concerning for us policy and the such. we'll have a little social time, but were also talking about some policy issues. stuart: uecker opined on there? >> we do. interesting you know that. we have all the time,/fine, we also have longwave, which is of

course the original forest that existed in virginia down to east texas but for the european settlement. stuart: can you put your finger on one policy changes like to see that you're talking about this afternoon? >> there is a lot of concern about open market and competition to make competition part of the scenario these days. also a discussion about subsidies. some subsidies are good to have, some are not. we are looking forward to having a great discussion. stuart: wait a second, i grow hardwood tinder upstate new york. black cherry, red oak, hard maple. i don't get any subsidies. what about me? >> well, actually what we're seeking is to reduce subsidies. there has been a glut of trees on the market that has caused the values of the trees to go down. or some incentives that i think are very important for

management. not necessarily for planting and coming in now, for the first place. some of these subsidies has caused a glut on the market. stuart: i just find it strange that i'm discussing tree farming with leavell from the rolling stones. this is a great country. this is our going on tour next year. are you going with them? >> you bet i am. i'm very excited. we've been out of the states now since 2015. that was the last time we did a proper tour of the states. it's been a little while and we certainly look forward to getting back in the states and plan his wonderful cities. >> where does match aggregate its energy from? >> it is phenomenal. it really is. he's an immaculate shape. i think it is just a testimony that rock 'n roll keeps you young. stuart: forgive the next

question, but why is keith richards still alive? >> i love to resent gray's going on. isn't it time we think about what time -- type of world really for keith richards. it's a big band from germany. the frankfurt radio big ben. i felt like i was playing. duke ellington. >> sounds good to me from one tree farmer to another. thanks for being on the show. it was greatly appreciated. thanks a lot. now were going to bump out with chuck's favorite rolling stones song, which is ♪

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stuart: big news on trade. china, reportedly announcing punishments for report property theft. liz: more than three dozen different punishments. 38. in other words, if china finds one of their companies, this is the idea, is committing i.p. theft, they would restrict, the country would restrict them from getting loans from state backed banks and for rip trade as well. this is movement now on a big major sticking point. ashley: immediate reaction what we heard from president trump today. coming back we're taking action right away. i.p. theft is the big one. however, when you force companies to allow to you take control of their company in your country that is where i.p. theft comes from. they get access to all your

information. so that is part of the big problem here. liz: good point. stuart: what liz had to say, that sounds like a positive. ashley: it is. stuart: why does the dow continue to fall? it is down 243 points? >> don't know. violators, according to this report will be recorded and shown on a government website. so, it will be broadcast throughout china. so i'm not sure why the dow is still down triple digits. stuart: market headed south when mr. trump tweets four times. lighthizer and navarro he mentioned, the president mentioned them, they're on the team. ashley: hard-line, hard lynn is what he is putting out there. reaction emac read it is positive. how could it not be?

liz: it is positive china is acknowledging it takes place. stuart: we wiped out almost all of yesterday's gain, can't explain it connell mcshane is in for neil connell: the markets went down after president trump tweeted about trade, president trump identified himself as the tariff man. the market seemed to go down after this. we're trying to work through 90 days, to figure out what happens on the other