whatever this parliament decides, the e.u. has to agree with it and who knows what they're going to say but up until now they haven't been fort coming. back to you. >> we'll be watching developments. ashley webster great panel have a great day thanks for joining us right to stuart varney we go with "varney & company." perjury good morning everyone to. are you ready for this? this is going to be an extremely big week especially for your money there's something big down the pike every single day for example today monday, profit parade rolls on started already. results from caterpillar have already hit the market look at that down 6%. tuesday, a l reports probably the biggest financial news item of the week. wednesday, trade talks with senior china officials and microsoft test will and facebook all report are that day. thursday, the federal reserve issues a statement of interest rates are big deal for the market. friday, the jobs report, probably influenced by

government shutdown all week long a standoff probably all week long in venezuela had is really putin versus trump. what a week all right here's how it's starting let's go back to caterpillar they told investors this morning that is profit this is year would not be a strongest hoped earlier. global slowdown hurts, the stock is taking a big heat, and a big hit i should say, and because it's a dow stock caterpillar is hurt the industrials overall. the dow will be down almost what, 200 points. the s&p on downside, and the tech heavy nasdaq will also be down. reopening the government that's not helped. perhaps because another shutdown is still possible in just three weeks time. there's more -- here comes starbucks for the presidency, and here comes arctic cold to 100 million people. "varney & company" is about to begin.

we're living at a most fragile time not only that the president is not qualified to be the president but the fact that both parties are consistently not doing what's necessary on behalf of the american people. and are engaged every single day in revenge plucks. >> let's get clear here that is formerrer starbucks chief and he says yes he's seriously considering run for the white house. outside the major parties he's running as a sen centuries independent. well, just a few minutes ago, the president tweeted about that. here we go. howard shuttle doesn't have guts to run for president watched him on "60 minutes" last night and i agree with him that he's not the smart pest person besides america already has that. i only hope that starbucks is still paying me their rent in trump tower okay that's classic

mr. trump from the presidency first thing this morning. now emac is with me. back to mr. shuttle if he runs well funded independent campaign that's a big threat to the democrats isn't it? >> democrats are recognizing that julian castro saying he'll get trump reelected if you run at the center for american progress is saying that same. she also intimated she wants boycott of starbucks products. it's trump runs -- excuse me howard shuttle runs, and she says with with center for american progress. she's saying, do not give a penny to starbucks or to guy's campaign because he's basically going to get trump reelected. >> now i've heard it all. >> you have heard it all but you know, he came out kind common se saying medicare for all will bankrupt that's the country that's what he's talking about also saying that 21 and a half trillion debt is reckless and bad from both parties is running at inextent data showses that

the independent run will split the democrat vote. so that's an issue for them. >> interesting that starbucks stock on now is down about 1 and third percent i wonder if that's anything to do with howard shuttle i don't know. who knows these things let's check futures overall look at your money big week coming down at the open probably 200 on the dow. that's by the same percentage the nasdaq is beginning to be down 56 points. look at this, dow component kat fill particular, to say that their profit fell short is understatement but they warned about lower profit this year 2019 it is a dow stock, and look at it go down. 6% lower for premarket caterpillar a lot going on this week as we told you, big tech earnings, china talks, jobs on friday. not to mention the federal reserve. joining us now is market watcher rich with the investment firm conning unfortunate name for an investment firm what are you doing? >> we're looking for submarines -- [laughter]

you've heard this one before and what's the biggest deal this week to really move the market tech earnings china talks, fed, job haves numbers. >> biggest deal this week for the long run is a fed and china like for first place because i think they have the most carry any of the others affect market in the short run but fed policy or breakdown in the china agreement potential agreement with the federal reserve it is what they say at 2:00 on thursday afternoon. because the issue is statement about whether they're coming from. now you don't think they'll raise interest rates on this week, do you? >> so what you're saying about interest rates for the rest of the year? >> i think begin in the long run more important what they do than what they say because they've said things that set people in the past and what they do going forward will affect markets. i think they try to say they're not going to do anything bad and i believe that. >> okay so that will be a positive if they say that in the way that you've said it, that's a plus.

now, china trade -- we don't have long to go before the march first deadline you looking for anything positive? >> looking for anything positive that could come out of these talks that suggest that we're still engaged. if these talks break down, then there are number of things in any outlook that are pretty positive but probably won't happen. we want to see something coming out of these discussions visitors -- that china visiting here that suggest there's still things to talk about progress to be made. a lot of confessionings have been made already on china. i think you don't if you're mr. trump you don't take your foot off peddle until there's an agreement in place. : lest propose the federal reserve says we will do no harm or to that effect. actually near that effect and some kind of movement forward on china trade. does market go up significantly? >> all in your head about what is significant but significant

already. >> can we helicopter that small change for the tao can we challenge that if we with get decent news on china and the fed? >> remember are i'm a bond guy, and bond guys worry for a living so we're with always worried about these things being -- overdone. but you know since the end of december we have a great recovery we have to keep on that trend. these earnings data here that we've just seen probably stop us from really pushing highs right away. but i think we get on uptrend again. >> rich thank you. joining us sir. now the shutdown it is over. that's history. it is over. but now they're talking about the immigration a possible deal. now, i see three possible outcomes of the end of these immigration talks. everybody got three weeks to do this. either there's going to be an agreement number one, number two we'll shutdown the government all over again or president trump will declare a state is of emergency. i think those are the three options. tom is with us. favorite guest on the show. he's former republican senator from oklahoma.

you're looking at that for? [laughter] >> three possible outcomes. third one is one that will happen. you think so -- do you think -- congressional research is congress's own research arm has already said he has all a of the authority he needs to allow the army and to use other funds to do this wall. >> so -- how do you defend a position that's against what you rely on all of the time as far as law? which is the congressional research service in many so they know that at the white house. that's his ace carp i'm going to do this so you can make me do it. that's fine. but i've got the authority to do it and you can sue all you want you're not going to win because it's already been research ared or you can come to the table and let's do something. so he's not -- but i don't think we have another ship now. i think we come to an a agreement or he just does it. >> simple as that. empletion i i do now china theye

waving the president he's negotiating very closely with this government shutdown with immigration they're watching. they want pointers on how he negotiates on trade. he'll give a little bit to get something as long as he's got a backstop. >> do you think he caved on shutdown? >> no. because he he know he knows he n always ultimately win this issue and if you poll it but you can win it by doing it. but that remains to be seen everybody ignores the middle of the country who elected him? you know, the foam that were absolutely fed up with washington as usual. you think they're not fed up with with washington as usual? >> what are those middle americans hearing? they're hearing from the media. which detest donald trump and won't give him an out for credit for anything. >> stuart but same thing is before the election you couldn't hardly find a trump sign. except all of those yards that didn't have a trump sign went voted for him. they don't like the guy. they're m barszed by what some

of the things he does. but they know versus the other side, that's the best way to go. so you know,s it's a mixed bag. for those of us who want to see a working, functioning senate and not working with and not functioning and hasn't been for four or five years. let's get something done. and a so he's the kind of i buy that says okay you're not going we're going to do it i promise people to do it i have authority to do it. ly do it so here's what's coming you can spend time in court you want but i've already got this thing won or sit down to negotiate. and remember give up ka if they don't negotiate with him. >> count in 2020. probably would. i always have to ask you this question. you well? >> i'm well. >> you knew what the question was -- great to see you. great to see you. all of you much oblige to you. check futures where rewe going afraid we've taken a little bit a trip further south. now, if look like we're going to be down 230 points almost 1% and

a nasdaq also moving further utah south better than 1% opening bell 20 minutes from now. and then there's this. pope francis wow blasting social media in the message to his followers. the pope says facebook torments spirals of hatred. and gives rise to every kind of prejudices, strong stuff from pope francis wool have a full report for you. diplomats sorry meanwhile a diplomat in afghanistan negotiators are making progress on a peace deal. we've been fighting there since october. 2001, the latest on venezuela, president maduro demanding military loyalty after top officials said he recognized as the president. maduro has backed down on his demand but u.s. get out of the country he said diplomats can stay and he's open to talks. what's the end game here? we're going to ask our top venezuela watcher after this.

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all right here's why the nasdaq took another leg south on a big one. look at a stock that is down really big down what had 14% it is lowered its guidance and looked forward said not going to be great on revenue and gross profit margins. emac let me turn to you for a second it is a chip maker are ores -- >> semiconductor amd intel they're taking hits too. you know, the thing is -- it looks like it is mixing up its business model mix moving away from robot carses that gave a weak forecast so this stock is taking a walloping in trading right now. 14% down is huge. i just wonder when trading gets going today if other big name technology companies will be down a little bit in sympathy with what we've seen from video. >> earnings week so this is a big time. all right that down 22 bucks

that's 14%. that's a whopping great big drop. that will be a factor today. let's get to venezuela it has indeed backed down on demand that american diplomats leave the country e they say they are open to talks meanwhile maduro is demanding that the military be loyal to him because -- defected he turned around said i want a pledge of loyalty from you guys an about he got. joins us now wall street journalist mary o'grady on ton of this for many, many years actually. look, i think to some degree this is a stand-up between russia and america. the russians have got ten billion dollar it is invested in venezuela and some military assets too they don't want to lose that they're going to back maduro. >> i think you raise a good point but i think it is a little bit more complicated than that because don't forget china -- >> 65 billion there and they're owed repaid through the oil that is coming out of the ground which is -- you know, bringing less and less oil up. but i think what's going to

happen here -- and what we have to keep our eye on we're stuck in the fog of war right now. but we should pay attention to the fact that there's a lot of violence twoing that's not being reported. this violence is between the national guard and -- groups of people in slums and very poor neighborhoods who have traditionally for all of these years been supporters and later of this regime. these groups are clashing. why? because these or very poor people can't get food, can't get water, can't get electricity. can't get jobs, i mean they're literally desperate, and so they are fighting these armed forces. now, you know, i think that news that we saw over the weekend that russia is bringing paramilitary we don't know how many into the country as we've talked about before cuba has a lot of interest hanging on this piece of real estate so they're going to be there in big force. the question to me is -- will the fact that 30 million

venezuelans want this guy gone, want new elections, will that be enough to basically you know forestall any survival of maduro and i want to raise one other thing which i broke this news in my column this morning had is that the u.s. has officially said to why, though, the interim president you now control all of the assets at the new york federal reserve that belong to venezuela, and any of the assets in u.s. -- in u.s. banks that are guaranteed by the u.s. government. the bank of england on friday refused to maduro tried to draw on 1.2 billion of gold reserve, the bank of england said no. so -- the strategy, the strategy among the civilized countries is basically financial right now. pane i think that's good for now. because i worry about getting, you know, stuck into a wire there. rng there's no going back to it.

maduro will go back because you know they don't like maduro they haven't for a long time. chavez had had a halo. but he doesn't have that. >> just a question of how do you get this guy out? do you get hill out by denying any money at all? and diplomatic recognition or -- >> one of the things that we really need but i think we need to also prepared that it could get very ugly on the ground because i do think cuba and russia were used paramilitary and the national guard and anybody they have left to basically hand the hand combat. >> i'm sorry to rush you like this but i'm out of time. >> thank you you're right are on top it have. come become and see us. thank you. check futures please. where are we now? down -- 230 points for the dow. and a big drop are for the nasdaq following nasty stock decline. by the way, about about to get cold and, i mean, really cold we're talking temperatures as low as -- it say on my script minus 60 epg

that's a windchill thing which i don't care for. janice dean i want to know the temperature. janice dean coming up next. >> care for the wind. ♪ ♪ the new capital one savor card. earn 4% cash back on dining and 4% on entertainment. now when you go out, you cash in. what's in your wallet?

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freezing cold. so bad that scott martin had to cancel his appearance on the program today. he couldn't get to the studio. but janice dean is here. and janice, i want you to tell us, where, how cold is it going to be and where? and would you please stick to temperatures i'm not in for windchill. [laughter] >> well here's the windchill with they should have told me this before hand producers come on. [laughter] you're going to give me a hard time all i'm focusing on is mitchell you understand you're like my father-in-law stuart i don't care about windchill but tell me temperatures the the reason i show you is because how your body reacts so if you're outside and you're not dressed appropriately and you really can't be outdoors in minus 20 minus 30 degree windchill. but here's the crux of it okay we have this cold arctic air some of the coldest air they've experienced across portion of the northern plains upper midwest great lakes, in decades stuart. so that's telling you how much cold air so all of this is coming from the arctic, origin

is the arctic and rest across great lakes and upper midwest move in towards northeast on friday but worst of it. worst of it will be across northern plains and upper midwest i know this is windchill but air temperature is going to be -- minus 30 minus 40 so on top of the actual air a temperature and again, in some cases minus 40, minus 50 is what it is going it feel like temperatureses are urged to stay inside it is dangerous potentially deadly. here are actual air a temperatures for chicago. stuart as question egothrough tuesday, it is beginning to be three minus 14 my mous four and there are your overnight lows so in the minus 19 minus 25 degree range on friday and things will rebound as we get into the weekend. also i want to point out real quick stuart, snow as far south as deep south tuesday into wednesday. because of this arctic cold front. back to you. >> just because i'm old enough to be your grandfather doesn't mean you have to tell the audience you know what i mean.

jan thank you very much indeed cold is cold. and here it comes. >> you're young at heart my friend. >> whatever you say. thank you. see you later. check had the market we're going to be down about 250 points for the dow industrials. we'll take you to wall street after this.

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all right we've got ten seconds to go and start the market action for the week it is going to be a very big week and frankly, we expect the market to be down sharply in three seconds from now. there's also bad news in the background here. boom, off we go. 9:30 on a monday morning. and we've opened sharply in the red. look at that. we're down 196, 201, keep it going 204. this is, obviously, a trip pl digit deadline right at the opening bell virtually all of the dow stock so far open, having in the the red. all of them are down i've got three that's not yet opened. two not yet opened. look like it is going to a of red any way you slice it down the the tune of better than 1% for the dow. how about the s&p 500? where's that going? it's going to be down. sharp isly so yes almost 1% down. now, the nasdaq there's a big question mark. how far down is that? oh, ouch. one and quarter percent.

90 points down caterpillar this is stock -- not looking good it's a dow stock that is down 7% that's taking a big chunk out of the dow 30. now look at nvidia loaded guidance for the rest of this year down it goes 14% that's why nasdaq one of the big reasons why nays nasdaq is down better than 1% and big tech apple amazon microsoft and facebook report their earnings this week. and a all of them are down, amazon down nearly 2% apple is down sharply. facebook is down just a fraction. wow, what a day to start jeff seeger is here elizabeth macdonald an suesan lee and trade talks starting and fed holds meeting an fed coming outing on friday we have the jobs report. seeing per what will -- amongst all of those what's the biggest market mover? >> well this is a big, big week.

i think the most important thing this week and the big focal point is going to be tech earnings because tech have driven a good percentage of the s&p in past two years i think it is an ugly week for tech earnings i think that's gong to take center stage. >> look at this nvidia that is a tech stock that has recently in a high flyer to chip maker it is down really big at lowered its guidance what's this all about? >> so they lowered their guidance dramatically to report earn ongs february 14th but to get ahead of that, to teacher market they've told they have charges in china so different from intel because it makes fast gaming graphics in chip also for cryptomoney to these are slowing down at this point. but you know, this is in line with other chip problems that we've seen intel recently lowering their guidance. and seeing china is not backing them. >> so this was a preannouncement

they don't report february the 14th but came out today and said hey watch out. >> taking the hit now. is this bad news for other tech stocks? >> it is and keep in mind apple had a preannouncement and now they're beginning to even have worse or in my opinion we're gong to have worse earnings than their preannouncement when you start to get that you get that trend of preannouncement and earnings that work. >> apple as i say guided lower there's like a 14% drop in iphone shipments and really get worse than that. isn't there mo, is usually the guy or for conservative number and they cool out way ahead of that. >> generally. but i think this is going to break that pattern i think we're going to see -- earnings that are had worse than people expect it. i think, i think apple warning was smart but i still think they're going to -- >> but the first that it doesn't break out unit sales so on the call you going to buy nintendo

making that stock go higher? prchg question. there's a minor league item here on apple i'll get through if. apple has been granted patent with a built-in sensor that detects harmful gases like carbon dioxide that's not going to affect the stock that is interesting add-on. >> not a big earth moving or earthshaking kind of -- >> not every day that we come in contact with poisonous gas that they could -- it is important to have it. but not going to make a ton of money. capitol hill will be -- >> looking at this dow industrial is now down 326 points way beyond a 1% drop. there we go. by the way nvidia is now down 17% so we've got some serious declines on the market first thing this monday morning. all right let's have a look at a some individual stocks because started with tesla. they report profits after a the bell on wednesday afternoon. walking up to that earnings reports they're down 5 bucks 1.7%. the price of oil down this morning.

frequently recently seen price of oil and majority follow the price of oil it seems to be happening today. you're down nearly 3 octen oil at 52 a barrel. price ofs gasoline actually edging bit lower but still around the 225, 226 level for your national average. all right netflix -- well this is a number for you. fully financing the screen adaptation of "the new york times" best seller hill billy -- they spent 45 million dollars on the rights to the book. a huge -- >> incredible big number. just a right to the book that's not what they spend on putting on tv. no a 2016 best basically autobiography about the rust belt with a whopping amount that's a big number. >> that's a lot but keep in mind what netflix has done with this new streaming model is they're eliminating the need to spend money at the box office. so yes they're paying a lot for content but they're not going to be spending enough money to put -- as much money pushing these

titles through the the box office so my opinion, a lot of what netflix is doing is breaking the mold of hollywood. and it is bringing them to a place where they could own content. >> you you like netflix 330 youh like it. >> i've spoken to producers since then big hollywood producers that say this changes everything. normally it cost 100, 200 million to get a movie out there. now you can get a movie out there for a lot less and now like they showed with roma they could actually win awards and a put out good con at the present time so a lot of people are saying they're spending a lot. i think they're spending exactly what they need to spend. >> long-term debt is up from a year ago up 71%. and they're yeah 8 billion is how much had they have right now on the books. that's concern qhs you're not spending this type of money or book rights not even to put it on big screen. >> a lot of our viewers do not know jeff seeger produced two broadway shows. that correct? smg yes.

yes. you're a producer. and i've also done -- also a done theater releases and we've so i know a little bit about the industry. and what i know about the industry is how much it cost to actually make something because investor you try to get money become and that's not anything to do. >> we thought you were star -- i didn't know you were a producer. [laughter] moving on. now facebook. that's what i want to know. have you acted? >> never here. [laughter] actually i have. briefly. briefly. all right, facebook -- lawsuit, newly released documents show facebook it was aware that children were spending lots of money sites games without their parents' consents called internally facebook whales based on 135 pages of documents, and internal here's what was going on. the free games on facebook, but when you're inside that game, so you want to buy a sword for a

character, the child would say okay yeah buy it like clicking on it not knowing facebook account was their important and the credit card attached so they got irate called a credit card company facebook has a higher demand from credit card companieses, saying pay us money back versus average and 10% of the money is getting called back so facebook internally knew about about this. and workers knew about about it. warned about it but they continued to do it. and embarrassing -- >> i don't think it is beginning it affect a stock that much. but facebook is down in the general downdraft that we've got going this monday morning. >> gave a report this week so we'll see what happens after -- yeah. amazon reportedly asking consumer goods companies to create brands exclusively for amazon. is that a win, win you love amazon. >> yotd but here's what's happening they'll come up to the top of the search for amazon this was the plan all along. this is what makes amazon a brilliant company. they are districting other

products but what they really want is their own products. they have product nutritional supplements they have mattresses they have things that are going to be their own and profit margins increase dramatically, it is probably going to cause a problem with antitrust are at some point. but at this point, or to might work. >> for european union which doesn't like amazon feels that amazon is flattening its own small businesseses even though a lot -- when you start putting your own brands your own internal brands to the top of the search, on your site watch the e.u. get upset about that. >> interesting. oak. more amy dison "the new york post" reports that jeff bezos founder principle stock owner, big stock own per only donates a tiny fraction of his wealth to charity that would be .09 of 1% i guess that's bad pr but you don't care about the pr for bezos. >> he should take a lesson from bill gates who donates a lot more of his wealth and has but

who should we with say should and should not donating. >> watch politicians in queens and about it. because they're building in long island city, and democrats don't like that they're getting all of these tax breaks and already, you see democrats in queens saying wait a minute we're giving tax breaks you hardly getting in to charity. tax strategy to be honest if you donate more to charity don't you get more of that back? and you keep it away from uncle sam? >> that's the way elizabeth warren coming in with a wealth tax. >> my advice to yes, i have is to open up the pocket bock and donating money to get heat off hmm because he's going to have a lot of heat and he does not want that. >> bill gates done that in the 1990s he would not have had microsoft run out of town by the clinton administration. he just didn't open his wallet. >> greatest risk is political. and he has to -- okay -- come on. [laughter] but comparedded to now. yeah. compared to now. [laughter] all right, hey jeff thank you very much indeed mr. producer.

we didn't know these -- [laughter] now look at this. we are mow down at the low of the day. down 360 points that's the best part of 1 and a half percent on downside big tech really not big tech but technology generally led by nvidia moving this market down. how about harley-davidson market watcher keith fitzgerald is on the show later. self-described passionate motorcyclist he says millennials could kill harley-davidson how about this he'll make his case at top of the next hour. first, former starbucks chief howard shuttle says he's seriously considering running for the presidency. as a centrist independent well democrats not happy shorts could split their vote. next we're going to talk to someone who says shuttle should run and could pull off a win. more varney after this. my digestive system used to make me feel sluggish

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>> 3 had 00 point loss that's what you're looking at and dow is back to 24,400. now that story about the pope taking social media to task. liz you have more on this. >> what he's saying essentially listen, he's aware he's strikingly aware of how he's saying that facebook -- basically selling data manipulate wills data he's saying there's a spiral of hatred being formed on socially media assume it is rs narcissism. on social media i think we have a quote from the pope if we want to show it exactly what he's saying about the risk of social media dividing the world inreceive uniting the world. so the pope came out and he's pretty honest. >> what do you think about the pope should he or should he not be saying stuff like this about about social media? >> i think he is -- free speech is allowed to say whatever he wants and he uses -- that is correct he uses social

media he's big on twitter. is he delving into politics. he's not delving into politics and well, he's saying that he's warning about the threat of fake news. and i agree request him. on this instance, i don't like big brother. but the question is, should the head of the catholic church be making what amount to political comments? >> well i hear what you're saying. i know. exactly. well i think, i was struck personally by it i thought it was old that he was talking about social media. as soon as he got that out of me. >> got you. now let's get to this. starbucks former howard shuttle is seriously thinking of running for the presidency. come on in nick triano with unite america promotes infeint candidates. independent candidate thank you stuart. >> you want him to run? >> i think it would be good for the country to have nor options in the next election. >> would he be a serious problem for democrats if he runs as an independent a guy very much in

the middle surely, that's a problem for democrats isn't it? >> i think it too early to tell when independent candidates. >> don't walk away from the question come on you have the democrats, march, marching to the left. and up pops a multibillionaire guy with a track record of oning a business. might run as an independent. you're not telling me that too early to tell whether the democrats take a hit. >> he's running as a centrist as he said in the 60 minute interview last night an issue he cares about is 21 trillion dollar national debt. it is unclear how either party deal requests any of the big chalgs facing the country when other half the of the country is absolutely opposed to what they do. he's running to give another option potentially, and when centrist inextents run for office in the past whether john anderson on in 1992, the exit poll show they draw equally from both sides question is can he draw enough votes to actually win and i think -- it's possible in our politics today. too article to tell you have to

mac a judgment. >> look, i think most likely that he'll pull from both parties because people in this country right now are dissatisfy with both. they don't feel well represented by either and rested for a viable alternative and what they're for a trump candidate city they have resources to get his name ballot but to present himself as a credible candidate. >> that's why i say scare the democrats to death. >> they are scared to death, and you know, for a party that cares a lot about voter suppression and then. who was it who said they're going boycott starbucks? >> she's a center for american progress. way with out there on the left. she wants to boycott starbucks because of this. >> i think it is reare dig louse they talk about voter suppression engaged in candidate suppression right now. it doesn't say a way to believe but limit choices that voters have instead what needs to be done is fix our electoral system if we have a system of rank trace voting to rank candidates instead of taking one better

reflect voter preference and do you think howard schultz can win he's a multibillionaire. he's from new york. and he's jewish, can he win? >> i think this election will come down to who has right vision and ideas for the country and end who can bring us back together. america is more divide than we've been since the civil war i think people want to leader who is able it unit us and not divide us. but that's the question -- he has to do twos to win in this considerate a lot of people don't like billionaires and there is to some degree some anti-semitic feeling in about this country hey that's the way it is. okay so do you think it can win with those two things against him? >> i don't think he could win if he didn't have resources as an independent without the party structure without being able to put money into the race are. but what he has to do to make leer is if he doesn't have a path to victory clear if he does win that will give people to support him leading up to election day. >> nick, thank you very much indeed for joining us we

appreciate you you can come back soon if you're not careful you'll be invited. new poll first of all check the tao 30 we're up a sea of red. there is not a single dow stock that is in the green. everyone of them on downside and dow is down 1 and one-third percent over 300 points. we've got a new poll that shows a large number of california ready to move out of the state. next we're talking to the guy who held disenchant californians find a new place to live the exodus out of california could be huge. we're with on it. i switched to liberty mutual because they let me customize my insurance, and as a fitness junkie, i customize everything. like my bike and my calves. liberty mutual customizes your car insurance so you only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ shouldn't mean going back to the doctoro

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all right we're down 360 points on the dow industrials. that's more than 1% same story on the nasdaq which is down 1.6%. big losses today, and big loses among the dow 30, check this out. jpmorgan american express ibm pfizer nike down stocks all down big now that poll for you. what i call the formerly golden state that will be california. 15% of voters there are seriously reare pete seriously considering leaving california. joining us now is paul with the conservative move real estate

network. this organization helping those move to qeivetive low tax states. 15%, that is a very large number. >> stuartst it's great to be with you again and a huge number out in california right now with this new poll and this new poll was done november general election voters. so these are all registered voters when you take that 15% that are seriously thinking it and 13% which are on track to thinking it be. it adds up to about about 10 million or every fourth voting household in california is considering or seriously considering moving out of the state. >> what proportion of those people will actually do it? have you any idea? >> no. we don't that's where the numbers don't, don't aren't showing us much data to help, however, we can say that, california has a huge outmy population when you look at number of u-haul moving

companies moving families out it cost much more to rent -- a moving van to move out of california than to move in. but california is largely left now with middle class leaving small businesses, leaving and you're largely left with coastal liberal elite that can afford it and the inland working poor now remember california is also a sanctuary state. over a million illegal aliens living in los angeles alone. so you might have a lot of citizens middle class, leaving but still importing all of working pour and they're just not really contradicting much to california so now they're raising taxes on a lot of other issues that are concerning middle class families. >> paul did you see the report which we broadcast last week. it was a research or operation from wealth x. they pointed out that 5,700 millionaires had left new jersey, new york city, that area 5,700 million had had left in 2018. that's what you're talking about from california. isn't it? >> it is, and they're not just

moving from california but moving from illinois, new york, new jersey a lot of them are are pocketbook issues like we talk to thousands of families weekly difficult for us to keep up and personal heart felt stories. pocketbook issue ors certainly but if you look at what happened in new york last week it was -- disgraceful where you can aboard art bo a baby up to birth basically so you have a entire section of new york citizen disgusted by that and looking at the state that now represents them and says i don't understand this. i would like to live somewhere else and in a state that represents my values. >> paul i think it is more pocketbook issues and taxes that get people going to posed to abortion issue. paul thank you for joining us see you again real soon. >> you're welcome. thanks for having me two items really affecting the immigration debate. >> number one that caravan is now 12,000 strong heading towards our southern border. number two, maine's largest city port land struggling with an

inflongs influx of io sigh lem seekers. i have my editorial on that coming up next. . .

stuart: you think the enat that immigration crisis is limited to our southern border? think again. look at the headline from "wall street journal." maine's largest city, strains under asylum seeker influx. that is portland, maine. close to our northern border. just as we were digesting that headline, we find that the caravan approaching our southern border is now over 12,000 strong and growing daily. the trump-pelosi standoff did not resolve this crisis. in fact by keeping it going, the failed attempt to get serious about border security probably made it worse. after you will, why not challenge america's border if america can't figure out how to secure it? and this crisis is not just

about security. it is also about the whole asylum system. the rule now is this, you get in, a lawyer tells you what to say at your asylum hearing. the judge tells you to come back months and months later, you don't come back, you meld into the shadows, sitting there waiting for some kind of amnesty. there are 800,000 people waiting for asylum hearings right now. that is why portland, maine, is so stressed. their shelters are full. 90% of their occupants are african asylum-seekers. president trump wants to reform the rules. senator schumer, speaker pelosi, are strongly resisting that. a seven teen member panel with democrats and republicans, senators and house members that is now meeting, trying to get some kind of deal before the next possible shutdown. good luck. it is very difficult to see immigration asylum, border security, anytime in the near

future. in other words, they will still be the big issues in 2020 in the election. by then countless more people will have crossed the border illegally. countless more people will be asylum hearing no-shows and countless local authorities will be financially strapped like portland, maine, we'll pay a price for a generation of immigration dithering. the second hour of "varney & company" is about to begin. ♪ stuart: not quite the low of the day but pretty close. we're down 355 points. that is the best part of 1 1/2%. lots of stuff going on this week and we started badly. check one dow component, that would be caterpillar, that is the biggest drag on the dow right now. they warned about lower profits later this year and the stock is taken to the cleaners down 8%.

here is another one that did the same thing, lowered its guidance for the future. that would be nvidia and that is now down 15 1/2%. that is a whopping drop. nearly $25 down. four big tech companies report this week apple tomorrow. facebook and microsoft wednesday, amazon on thursday. all of them down in advance of their official reports. keith fitz-gerald, money map press chief strategist. i read your stuff. you say get out there and buy microsoft and buy apple now before their earnings. as i said, that's bold. make your case. >> absolutely. i think microsoft may in fact be the best of the big tech right now. they have been moving from public cloud computing into a hybrid corporate version of it which means they have 60% margins, they have on-premise software. lots of things contributing to revenue, great stability and innovation.

apple the key here is still misunderstood. people will still looking to the iphone but the narrative is changing. it is all about the devices and services. that may take a hit later in the week, but again if you have the right perspective don't worry about buying. amazon, same, crowded trade but longer term that is a company you want to own. stuart: when you say longer term, apple and microsoft, you say longer term, what is longer term? is that two years down the road if you're investing two or three years, is that it? >> you know that varies obviously investor by investor. i am looking to stuff i want to own when i am 60, 70, 80 years of age. stuff i don't want to be without for lack of a better description. stuart: i'm 70, i got microsoft, you're telling me don't touch it? >> exactly. stuart: let me refer you to nvidia. now there is a tech stock. that is just being taken to the cleaners today. have you seen it? it is down 15%. $25 down. doesn't that indicate a few

problems for the apples and microsofts of this world? >> no. it indicates problems with nvidia. they have some supply chain issue. they may have oversupplied. they may have inventory. i missed this one. i thought nvidia would be rebounding by now and it has up until the last report. here too the world will not get any simpler. what they make is stuff we got to have. they make the best chips in the bests, best sets in the business, best software in the business. to me this is a buying opportunity. stuart: do you own it, by the way? >> i do not. full disclosure i do not own it at the present time. stuart: i will switch gears, you're saying, i read your stuff, millenials are going to kill harley-davidson. make your case on that one. >> absolutely. the only question is how fast. you have a generation of younger riders. harley is producing a bunch of new motorcycles are absolutely gorgeous but all at 25, $30,000 a pop. you have younger, hipper riders,

many are female, can't pick up a big bike, are not interested in the harley mystique that propel i had. they need to produce what the japanese and europeans are producing, fun interesting, bikes priced under 10 grand. stuart: you're a motorcycle guy, aren't you? >> yes i am. stuart: you like to drive them around. would you buy an electric bike? >> i thought about that but there is not one yet either has the performance or range i'm looking for because i will head out on these things for thousands of miles at a time with me wife. half of time i'm riding into the studio before changing into business clothing. stuart: we don't know that we're glad you told that, keith. keep the leathers on and bash hat. >> you got it. stuart: you are all right. we'll see you soon. thanks very much. want to get back to my editorial we ran at the top of the hour. the migrant caravan, 12,000 strong now and the state of maine, largest city, portland, maine, overwhelmed with asylum-seekers. that is on our northern border.

lawrence jones with us, fox news contributor. lawrence, i don't see any way around this. this is a crisis. i can't see it getting resolved. what say you? >> it won't get resolved until congress decides to do their job on this issue. a bottom line a lot of people going through the asylum process because they want to go around the current immigration process because it is broken. we can't have that. congress has to address this issue. come up with a comprehensive immigration package. i think the president is flexible on this issue. but there is one catch, stuart. there has to be some type of border security package before we start talking about fixing the broken immigration system. and because members of congress can't walk and chew gum at the same time, i don't see this being resolved anytime soon. stuart: i'm with you on that. i think it is an issue for 2020. case closed. no way around it, i don't think. >> yep. stuart: as you know, lawrence, senator kamala harris kicked off

her 2020 presidential bid. she mentioned dem care for all. the democrats are taking the party more to the left it seems to me. what do you say, lawrence? >> they want free stuff, stuart. whether you're talking about aoc who represents the bronx area or the kamala harris, i think that they feel like that's where the energy is leading. is at and they feel a need to run to the left to win the primary. the problem is going to come to play for all these presidential candidates when it comes to a general election and reasonable people don't believe in wealth redistribution that is only way they pay for this stuff, if they start taking money from people that earned this money and paying for these programs. i think that is going to be a tough sell come the general election of 2020. stuart: quick question, lawrence. in my opinion, of all the democrats who may or, will run for the presidency, 2020, joe biden seems to me the to have the best chance because he is slap-bang in the middle. >> is in the middle, stuart.

they're even pushing him to the left. he is a reasonable guy. he is an old school democrat that doesn't believe in overtaxing people, socialism program but he has to win that primary race. so they're going to push him, especially the younger crowd, will push him farther to the left. that will be make it harder for him to beat president trump. stuart: you got it right onstua. congressional budget office, cbo, releasing some numbers on the shutdown. liz: i don't have the numbers. stuart: you don't have the numbers yet? liz: not yet. we're waiting for them. stuart: stay tuned, everyone. we'll have the numbers. okay. the shutdown .4% away from our gdp, size of the economy in the first quarter. liz: then. the thinking is it will come back in the next quarter. stuart: i'm pretty sure it would but the initial impact is a minus .4% taken out of gdp this

one quarter. liz: that's correct. stuart: no impact on that, by the way. the market is busy reacting to katrina, boeing, nvidia. liz: that's correct. stuart: a lot to cover this monday. standoff in venezuela. president maduro demanding military loyalty after a tash shea broke ranks to back the opposition. he got that pledge of loyalty. this is really about russia's putin, who backs maduro, versus trump who backs guaido. it's a standoff. back to the immigration crisis, the migrant caravan, 12,000 strong. i say it will be a major issue in 2020. can't imagine a solution. larry silverstein, completely rebuilt the world trade center. countless businesses opening up shop. there private enterprise is back. that's next. second hour of "varney & company." ♪

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stuart: not the low of the day but again we are way down there. we're off 350 points. that is the best part of 1 1/2%. it is a down day to start the week. it will be a big week too. look at guess. that is the retailer of course. its ceo is out and investors don't like that. the stock's down 13%. took a hit when the ceo left. how about tesla? they report profits wednesday afternoon. walking up to that announcement they are down another 2 1/2%. tesla way below 300 bucks a share as we speak. now this, private enterprise is returninging to the world trade center here in new york city and joining us now is larry silverstein. he is silverstein ceo, and the owner of that property in lower

manhattan. an honor to have you with us, larry. >> thank you, stuart. stuart: is that your greatest achievement? you owned new york city real estate for decades. >> a long time. stuart: getting that rebuilt is -- >> biggest challenge of my life. only taken us 18 years to this point. we have another few years to go before we finished. stuart: but at first, when you built first rebuilding of the tower, you couldn't get private enterprise in, government operations went in because of the danger. who do you have in now? >> actually, that wasn't the case, fascinating. the first building to go up was the last one to come on on 9/11. 7 world trade center. because no lives were lost in that building we had the opportunity to start that building first and we did. in october 02 we started construction of the new 7 world trade center. by may of '06 we finished it and the first tenants came into the building was moody's, 750,000

square feet of space. once we signed the lease with moody's it wasn't difficult to lease the balance of the building. so we leased million 700,000 square feet pretty rapidly to private enterprise. good quality tenants, first class tenants who believed what we told them, that we would rebuild the world trade center t would be better, bigger, finer than ever. stuart: there was no serious worry on the part of moody's and others going back into the trade center buildings about security? >> none. none at all. stuart: they didn't voice -- >> they didn't voice it but didn't execute the way they signed leases for the entire building, long-term leases and it just gave us a very positive boost. stuart: is it now back? can you say downtown is back fully? >> downtown is back almost fully. the reason i say almost fully, two buildings are left in the trade center. there is performing arts center

that ronald perelman funded for us. that is 400 million-dollar project which by 202 will be operational and it will be a performing arts center with completely new venue for lower manhattan that part of the city, for any kind of performances that you can request. additionally the last office building to go up in the trade center will be 2 world trade center. as soon as we find occupants of that, we'll start that. i would say by 2022 we should be finished. stuart: you know you have a reputation, don't you? >> i hope a good one? stuart: you have a reputation for being one of the most ferocious negotiators. you never back off, you never back down, you always get what you want? >> well, that -- stuart: take that. >> that sounds like an underserved -- stuart: [laughter]. just, so i'm told, larry. that is what they tell me. >> oh, okay.

stuart: bearing in mind -- no, i know you're trying to get out of this. >> it is okay. stuart: we will not negotiate in the interview. i insist on asking what advice you would give to your fellow new york real estate developer, current president of the united states, how to negotiate, donald trump? >> i think he wrote the book on negotiation. so i would leave it to him to decide what's best for him to do. stuart: do you like him? >> i have known him for many, many years. and he is a fun person, an interesting person. he is working, he is working assiduously to do what he thinks is right and to accomplish his goals. stuart: do you think he is right? do you think his goals are right? >> we'll find out. i think that will be ascertainable in the next two years as to whether or not america feels that he is right or not. stuart: but what do you feel? >> i look to the public to see what they have to say. stuart: you are determined not

to -- you really don't want to address donald trump, do you? >> i wish him the best of luck. stuart: he might call you after this, you know? >> he might. we certainly know each other long enough. stuart: i have to ask, obviously question. do you approve of his presidency and his conduct of the presidency? >> you know, there are so many aspects to the presidency of the united states. the, there are, there are so many pressures on him. there are so many opposing issues. there is, there is, there is so many considerations that he has got to take account of and look at very seriously. so is it an easy job? no it is not. is it difficult? yes, it is. and i think with time the american people will make a decision as to whether or not he

has done the job, that they approve of. stuart: larry silverstein, that was absolutely brilliant, diplomatic answer which was no answer at all but it was really very good and well-constructed there i would say. [laughter]. larry silverstein. it was fun. you have to admit it was fun. you're laughing, right? congratulations on the trade center. >> thank you. stuart: always honor to have you on the show, thank you, sir. >> my pleasure. stuart: britain voted no on theresa may's brexit plan, the original one. they're voting on plan b tomorrow. i wonder if it is shot down totally again and then what? our own ashley wednesday is in london. we'll head toward him next. ♪

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stuart: the brexit vote. well, britain's parliament votes tomorrow on theresa may's latest plan to leave europe. that would be the european union. ash webster with us once again from london. first question, ash, will plan b pass? ashley: well, probably not because theresa may just done a little tweak to it. we know what happened to plan a, it got flushed, didn't it? rather embarrassingly so. what happens tomorrow, stuart, series of amendments will be debated, what parliament can vote for. we know what they won't vote for. we'll find out what they can vote for. add to it plan b, take it back to brussels, how about this? one is the amendments call for eliminating no brexit deal, and

another one perhaps extended deadline and perhaps the one getting the most conversation, putting irish limit -- timeline on the irish backstop. theresa may will say, look if you can give me a time limit so we know that northern ireland will not be trapped forever in the eu customs system i think we can do a deal. sounds simple, right? who is getting involved now? boris johnson is back on the radar. he has been appearing at number 10. he did an op-ed in "the daily telegraph," talking about the irish backstop. if you get that he wrote this, after 2 1/2 years being pushed around in the playground of brussels, we're rolling up our sleeves, pushing spectacles up our noses and preparing to fight back. get us this one piece, one piece of deal that we want on the irish backstop, then it is all over. we can get this thing done and dusted. easier said than done, stu.

you know that. stuart: that is the first promising sound i heard in a long time. i mean there is some promise there. ash, i have got to run. thanks, we'll see you again shortly. ashley: all right. stuart: much more on brexit tonight with liz here. she will have nigel farage, mr. brexit on your show. you will be talking border funding with senator cassidy. liz: that's right. stuart: tell us when that will be. liz: 6:00 p.m. tonight. stuart: must-see television. liz: there is plan b for england and plan b for trump on the wall. stuart: thanks, liz. check the big board. we have 300 points down for the dow industrials. down 1.25%. down this monday morning after this. ♪ i've always been amazed by what's next.

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♪ ♪ hold me, love me, hold me, love me ♪ stuart: eight days a week. liz: i love this song. stuart: so do i. liz: good monday song. eight day as week. stuart: no, it is a terrible monday song. on the big board we come back a little bit, not that much. we were down 340, 350. now we're down 297. okay we'll take that. big tech, where are we? all down. apple at 155. amazon 1626. microsoft at the 105 level. now look at this. here is a tech stock really taking it on the chin. that would be nvidia. their revenue forecasts was lowered. down goes the stock to the tune of 13%. that is a huge decline.

by the way, nvidia's decline is dragging other chip-makers down too. look at that. intel, micron, qualcomm, all of them on the downside. here is luke tulley, chief can mist from wilmington trust. luke, you're looking at economic growth rate for 2019. you say it is going to be about what, 2.25%. if you're right, i call that very disappointing. what do you say? >> well, we don't think it is disappointing. clearly a slowdown from what we're going to get for 2018, which is more than 3% growth. but the boost we got in 2018 was very short term in nature. we had a big boost from the tax cuts. we'll continue to getting boost in the longer term from stronger cap-ex. we never really thought we would get 3% forever. so from the moment the tax package was signed, we immediately raised our forecast for 2018 up 3% but we've been

expecting this deceleration. over the past quarter we have seen markets are getting a reality check and we'll not keep that 3% growth rate going forward. stuart: suppose you're right, we get 2.25 growth in 2019, would we still be a standout economy? i think our growth rate would still be better than europe, japan, probably, right? >> yeah. it is a pretty strong growth rate. it is still above the u.s. potential growth rate. so if you think of a steady state, what would the normal growth rate be for the u.s. economy, a little bit lower than that, probably around 2%. and the important part of that, is when you're growing above that potential rate or above your normal growth rate if you will that tends to create more jobs and drive the unemployment rate down. it is still strength in the u.s. economy. it is still around the average we had over the course of this recovery and we'll continue to generate jobs. as you point out, still stronger than a lot of larger economies. stuart: when i was younger,

1980s, early 1990s the normal, acceptable, expected growth rate for america's economy was much more like 3%. now you're saying it is 2%. what changed? what's the problem? >> well the biggest drivers of long-term growth are the growth of your labor force and the growth of productivity for the workers in your economy. those two things determine your long term rate and one of the key things we had is a slowdown in population growth. by extension a slowdown in the growth of labor force. when you have retirement of the baby boomer generation. we recently had slower productivity that generates those lower numbers, but it doesn't mean it is an unhealthy economy. it means the structure is little different than it was in the 1980s. by the way, i was younger then too, stuart. stuart: weren't we all at one point? let's suppose we get some kind of settlement with china on the trade deal and let's suppose that the federal reserve keeps

interest rates pretty much where they are now, no serious rate increases, would that change your forecast for 2.25% growth for america? >> no, that is pretty much our baseline expectation for this year. we're perhaps expecting one or even a second-rate hike. and things along in the economy is still doing well. the first thing you asked about the trade deal is really the big wild card here. it is other expectation we'll emerge at some point with some kind of a trade deal that puts off, does not implement all the tariffs that have been threatened and promised, proposed, all the retaliation. if those come into force we would be revising down our expectations both for economy and our markets. baseline expectation we will emerge with some kind of a deal, but not without rockiness along the way. stuart: we'll leave it at that. 2.25% what you see. luke tilly everyone. >> thank you. stuart: switching gears to venezuela.

nicolas maduro now demanding loyalty from his soldiers and he go the it, by the way. that followed a military attache who defected over the weekend. don blamer, former intelligence officer and founder of the bramer. don, i want to talk about russia. they have a stake in the action. paramilitary personnel on the ground in venezuela. they lent them $10 billion. they will protect their investment. do you think a shooting starts? >> well, stuart, good morning. not only russia has a stake in this but so does iran, north korea, china and many other of the so-called bad actors have made an investment in maduro and his government. we're on the verge of a civil war there. and with most of the eu and america now not recognizing maduro as president and switching sides to the interim president guaido, it is a huge crisis that is on the verge of being a ticking time bomb. stuart: do you think it will come to bloodshed?

a civil war, do you think it will come to that? >> i certainly hope not but at this point you have got angry mobs in the streets. people are starving, they're hungry. they're lacking basic necessities of life. it only takes one small instance to turn to that i fear that is on the verge what we're going to see. stuart: you're a former military operative. i'm sure cia is active in venezuela. you can't confirm that but i'm sure they are. are they engaged in getting generals out, maduro out peacefully, getting them out of the country like we did with president marcos in the philippines? >> if you look at maduro. he is a very narcissistic human being, who believes he can take this back. he was trying to rally the troops trying to bring the army back to his side appearing in front of the prior leader of the country to rally his troops while it is slowing slipping through his hands.

i believe at some point he will have to concede. i think it will come to a very tragic moment when that happens. stuart: you are forecasting bloodshed? >> i am, sadly. stuart: what do you think our, america's response, to serious blood in the streets of can rack consist, what do you think the response will be? >> i don't think this will be a necessarily a u.s. response but nato response. this is stresses why nato is important. stuart: will it be a military response, america, nato, whom so ever, will it be a military response? >> i hope not and i hope it will solved through diplomatic. some peacekeeping force will have to go in place to resolve this more people coming from venezuela up to america trying to escape this strategy. stuart: got it, thank you, for joining us. we appreciate it. >> thank you, stuart. stuart: let's turn our attention now to amazon and google. really important, intriguing story. they are trying to expand into,

the electricity business. now, before you tell us the story, isn't this all about smart speakers and those nests. liz: that you hate. stuart: that i hate. liz: can't figure out drive you to insanity. this is their foothold, at first, this is the thinking, that amazon and google first want to dominate smart home devices. stuart: got it. liz: next step will be amazon and google dominating the electric power industry. stuart: electric power? liz: yes. via solar power or battery storage. david crain former ceo of entergy, says yes, they will be dominant players in the retail electric market. they will be supplying data. the electricity, rather. when i said data jumped the gun there. what they're doing is collecting all the information on how much power we use on devices and how we use our devices, when we use

our devices. they have all that information, right, about us and our electricity usage in the home, via smart devices. the next step would be to go in there, take over, work with utilities to supply the power. who knew they would be doing that who knew. liz: what else are they going to do. it's a good story. stuart: it is indeed. thank you. this is the unintended consequences from the government shutdown. more robocalls. you know those annoying thing. why that? because the do-not-call registry was suspended during the shutdown. next hour i will talk to somebody from robo killer that is the app that blocks euro bow calls. how bad was the shutdown? just tell us. he will. but first, immigration stories from both sides, both ends of the country. caravan growing on our southern border. portland, maine, buckling under the strain of asylum seekers near our northern border. is there a fix to the mess?

i don't think so. nor varney after this. ♪

♪ liz: former senator tom coburn says he does not see the latest border security negotiation ending in another government shutdown. why? he says the president has a plan b. roll tape. >> the congress's own research

arm has already said he has all the authority he needs to allow the army and to use other funds to do this wall. stuart: so -- >> well, how do you defend a position that is against what you rely on all the time as far as law, which is the congressional research service? they know that at the white house. that is his ace card. i'm going to do this. you can make me do, that's fine, i've got the authority to do it. you can sue all you want, you are not going to win, because it is already researched. or you can come to the table to let's do something. ♪ and this machine are integrated. & she can talk to him, & yes... atta, boy. some people assign genders to machines. and you can be sure you won't have any problems. except for the daily theft of your danish.

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stuart: coming back a little but still down 1%. that is 250 points down for the dow industrials. one dow component, caterpillar, that's a big drag on the dow. their profit fell short, and worse, they warned about lower profits for the rest of this year. the stock is down 7.8%. big drag on the dow. we focus a lot on the problems of our southern border but there is a new headline in the "wall street journal," look at this, maine, yes, maine's largest city trains under asylum seeker influx. maine of course is in the northern part of our country. they're overwhelmed. we'll bring in mark morgan, former border patrol chief. mark, this is really about

asylum-seekers, isn't it? you have 800,000 in the country already. we don't know where they are. they are probably won't return for their asylum hearing. that is the crux of this problem, isn't it, asylum-seekers? >> well, that's correct. it is actually twofold. it is just as the president laid out this past saturday for the american people. not only do we have a national security crisis because 60% of the southwest border is wide open and the cartels are exploiting that gap every single day, what this caravan represents and what maine is experiencing is the second half of what the president laid out and that is we have a humanitarian crisis. in 2014 when we saw the onslaught of unaccompanied minors and children seeking asylum, then president obama called it a humanitarian crisis. in 2016, when i was chief, i called it a humanitarian crisis. and now, the numbers are increasing. it is not manufactured. it is real. we have a humanitarian crisis. stuart: now we've got a 17-member board, republicans and

democrats, senators and house members. they started to meet now, trying to get some kind of a resolution to the border crisis. in the next three weeks. i don't think they will get anything done in the next three weeks. frankly i don't see this crisis being resolved until we get the 2020 election. what say you? >> unfortunately i feel a little bit as you do. what i'm hoping that the president does is use everything that is afforded to him in the constitution of this great country so that they first addresses that national security crisis. as part of that multilayer strategy, infrastructure, technology, and personnel, i hope he gets the wall, i hope he adds technology and i hopes he adds personnel to at least close doesn't open border that we have to stop bad people and bad things coming in. once we do that, then maybe congress can get together to start working on the loopholes in asylum and rest of the immigration issues we have in this country.

stuart: earlier on the program today, former senator tom coburn, republican from oklahoma, he says hopes the president invoke as national emergency. what say you to that? >> i say, i hope it doesn't get to that. i hope congress can do what the american people elected them to do, is put their political ideologies aside and do what is in the best interest of safety, security, sovereignty of this country but if they fail to do so like they have i hope the president does what he can do to protect this country. stuart: mark, thank you very much for joining this morning. appreciate it. good stuff. thank you. >> thank you. stuart: we'll check netflix, okay? back to your money. they just won a massive bidding war for hillbilly he will -- elegy. i think enormous amount of money they paid. liz: $45 million. stuart: just for the book rights. liz: yes.

it will be directed by ron howard. netflix is shelling out a ton of money. they month ago paid $100 million to keep streaming the tv comedy hit series, "friends." 100 million to keep streaming friends to the end of the year. they have 15 oscar nominations. there is still a lot of questions about the balance sheet, whether they will have to raise fees more for streaming netflix content. stuart: you've been telling us a long time their debt keeps going up. it is up 70% in the past year or so. liz: yep. stuart: that is a huge increase for their debt. they're shelling out vast amounts of money to keep streaming "friends"? and for a book. liz: their debt added together it swamps shareholder equity. i'm an accounting geek. i know i sound like that but that is, when they shove the debt off the balance sheet makes all valuations measures like return on equity look better.

these are questions that wall street really needs to ask, whether about netflix whether it can continue the treadmill or hamster wheel it is on. stuart: liz macdonald, accounting geek self-professed. thank you, liz. >> pope has a new target. social media. he says it is turning young people into social hermits, creating spirals of hatred. we'll tackle this one in our next hour. more "varney" after this. ♪

stuart: all right, we're down about 300 points. that is the best part of 1.2%. it's a significant loss this monday morning. the federal government shutdown, it's over. employees getting back to work, got it. joining us howard kurtz, host of "mediabuzz." howard, how did the media react? how did this portray the shutdown? whose side did they take? >> i give you one sentence. stinging defeat for president trump and victory for nancy pelosi. a lot of glowing pieces. laura ingraham, lou dobbs, said trump got outmaneuvered he lost this round. if you look at round.

it is true. he could have had same deal 35 days earlier but he served notice in three weeks he will do something with or without congress. stuart: how will this play out, if the border crisis continues. don't see why it would not continue? caravans are coming. problems in portland, maine, with asylum-seekers, i wonder with the politics and the way media looks at that, do you think it will change at all? >> hard to be optimistic. i can't see nancy pelosi and company feeling very happy with the fact that they got the government reopened without having to give anything up, i can't see them suddenly coming to some great accommodation with the president in three weeks. president trump signaling he may now finally, reluctantly use his emergency powers that would tie the whole question of wall funding in the courts probably at least a couple of years. so there is a real impasse here. stuart: nbc's tom brokaw, he

apologized after he said hispanics need to do better job of a simulating. here is the tweeted apology. i feel terrible that my comments on hispanics offended members of that proud culture. what do you say, howard? >> tom brokaw sounded like aging out of touch white guy lecturing hispanic what is they should do. that is a bad choice of words but i also think his apology made, clear i feel terrible, how he always recognized hispanic contributions to the culture, his heart is in the right place. what did he say that was so terrible? i understand some his manics were offended, but pc police are after him, every immigrant has been told going back to the early 1900s, a simulation is way for you and your children to succeed. brokaw said both sides should try to bring that together to work out. stuart: i don't see how it can solve problems without speaking

openly and freely about that problem. this pc clamp down, this straitjacket we're all in, i don't think it helps at all. >> i think that's right. brokaw has been saying this for year. he didn't think he was saying anything controversial. his wording was off. i understand that. he was very quick to apologize but if you can't talk about any immigrant group, their children should learn english and learn to a simulate in the community, that is the secret to american success. and people can push back on this or that comment but over all we need to have a candid conversation about this. maybe brokaw's problem he was a little too candid. stuart: i would love to see a real candid conversation. get on with it. howard kurtz,. >> thank you, stuart. stuart: tax refun season. this year fewer families will get a big check forfrom the treasury. maybe that is good for the deficit but not great for the economy. my take top of the hour. ♪

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tree and do it is tax refund season. about two out of three households get a check for the treasury. it's good for the economy. and i economy. and i stimulate a spirit this year much. the shot in the arm will disappoint and maybe political trouble for republicans because of it. let's start with the refunds. some people who got a refund last year won't get one this year. and if they do it'll be a smaller check beard that's because lower tax rates have already been built into paychecks and a birdie got a refund of sorts. number two, high income earners in high tax states have lost a huge deduction and that will eat up the bigger refunds they used to receive. so less money will flow back to you this year than last year.

that means less stimulus for the economy will be spending by the wealthy. the 1% will likely take the biggest hit because the 1% in high tax states take the biggest taxpayer. consider this peer the politics of all of this spirit there'll be disappointment about lower or nonexistent refunds and democrats were quick to say told you. there is one bright spot in all this. the deficit. if less money is going up from the treasury this april 15th to the government's books will not be quite so out of balance. we will still be showing a lot of red ink but not a delusion. one last point. the refund story is really all about the ending of the deduction for state and local taxes. that assault. to put democrats in a tough spot. they would love to restore that deduction because it really hurts the states that they run.

new jersey, new york, california in particular. if they tried to restore the deduction may just be helping the 1%, the rich and maybe running up the deficit. politics turned upside down. the third hour of "varney & company" is about to begin. ♪ stuart: already come you heard what he had to say about tax refunds. chief global strategist at horizon investments. where am i going wrong? refunds will be smaller. something won't get them and it will hurt the economy. >> i think you're right. there's an awful lot of folks, especially in the states you mention, new jersey, california, new york will be disappointed as they were expecting a refund and they'll wind up paying. sure into there a move among some democrats, and nita lowey

in particular. she wants to bring back the salt reduction. but if they did that, they'd be helping the rich is not what democrats do. >> that's the great irony. any chance to make any substantial change to the trump tax cut is futile. not when i have to appear in they are in place of these until then. the smaller refunds. they look forward to april 15th in getting a little bit of money back. i can see people saying what happened to my tax cuts. >> i tell you, stuart. could there be another shutdown. possible. there's a huge fight coming later in the spring. there's this tax story in the whole issue of tariffs with

china. they won't get resolved anytime soon. stuart: >> interest rate to say it remarkably low. the fomc and jay powell this week will make it clear they're on the sidelines for months to come. stuart: we're looking to that one on thursday. that will be a big deal. valliere, thank you very much indeed. either way, government watchdog group says the irs will likely need an entire year to recover fully from the shutdown. the irs reportedly buried in millions of unanswered taxpayer letters weeks behind schedule in training new workers and needs to hire thousands of new employees and tax filing season. negotiations on border security.

three weeks to get to a deal that government could be shut down all over again. like vermin at the white house. bring us up to speed. >> the white house putting us on the contraries. democrats and republicans, members of the house and senate as well will be the folks i will have to sit down and hash out all of this between now and february 15th. chimed in on this over the last couple days and on twitter you said mirroring what many of us think that this might not be going anywhere. at one point the president said both parties are dug in. in an interview with "the wall street journal" he said it's probably less than a 50/50 chance that this group ends up working something out. another shutdown is certainly an option for the president. somewhat pessimistic as to what the group may or may not come up with. the white house very much putting it on their plate. mercedes schlock director of strategic communications from 20 minutes ago. >> i think at this point it's up

to contraries to come up with a good plan and the president will decide if that will be enough resources to ensure we secure the border. reporter: if not come a shut come a shutdown certain an option in the president still continues to threaten the possibility of declaring a national emergency. stuart: blake irving, we thank you indeed hear this talk of another shutdown has clearly hurt the market along with bad air named sinbad outlook from tech companies down 340 points. this is a huge week. tak earnings coming. they are dragging everything down. they are down from a high of a sober until now. this kind of in between trading range we are watching and nvidia -- it is more than the chipmakers. people are worried is china going to hit the other tech stocks as well.

/ stuart: big tech earnings this week. we've got the jobs numbers on friday affected by the government shutdown. we've got the fed meeting coming up thursday. a statement thursday afternoon. who knows what they're going to say. the ongoing stuff in venezuela and europe, which may or may not hurt our nurse but it's going on. we are down 340 at the moment. nearly 125%. we started out this monday, sought out a very big week with a big negative drop for the dow industrials. a couple individual stocks. first of all, caterpillar forecast lower profit for the rest of the year and caterpillar was and caterpillar raised out a .5%. it's a dow stock, so that's bringing the average way down. check bowing down. it doesn't report into 1% am going. big tak apple, amazon, facebook, microsoft all reported this

week. they are all down significantly. look at amazon. definitely $50 a share. 3% down. talking percentages. you know you've got a big loss. but talk specifically about facebook facing a lawsuit. accused of duping kids on the site schemes. more bad pr down another $2 at 146. tesla reports profits coming up on wednesday. another stock is under pressure and it has been recently. he needs to get to 358. liz:.ballpark roasted has to pay a big chunk of the convertible bond. stuart: nowhere near it. 294 as we speak to president maduro has demanded military loyalty. he got up by the way. that followed a top official who recognized the new president.

maduro has indeed backed down that u.s. diplomats get out of the country. he says they can stay in the also says he's open to talks. the question is what is the endgame here and when does the endgame? some people receiving more of those very annoying robocalls. the national do-not-call registry website was down during the government shutdown. we are talking to the company that targets those calls so you don't have to get them. stay with us. it is the third hour of "varney & company." ♪

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stuart: let's get to the crisis and it is a crisis in venezuela. nicholas maduro demanding loyalty from the soldiers. military attaché to missouri

competitor. former national security council chief of staff. fred, bring it home for us, please. i just don't see an endgame in the immediate future without bloodshed. do you? >> i hope you're wrong. this policy is a gamble by the president the recognition of an interim president and the chaos in the country will finally lead the people and military forces to switch sides to support the opposition. the problem is military leaders are all corrupt. they've all been bought off than they are under surveillance. if they switch sides they will be killed. we know right now the soldiers and policemen on the streets which sides. we just have to see what will happen. >> the russians we are totaling to venezuela $10 billion they've got paramilitary people in the country. the cubans event paramilitary

running the secret service for a long, long time are not going to give out. that's why i suggest bloodshed is around the corner. >> the chinese have also led 50 billion to venezuela since 2007. a solution here is going to have to include sanctions on the cubans to pull out security forces and we need to make a case to moscow that manure was going down. you can site to site iran. >> you think we should intervene militarily? if there's bloodshed common and diplomats are threatened in any way, why should we go in and protect our guys and invite the generals to come to the end and fly on now. >> ambassador bolton and pompeo has made it clear don't mess with u.s. diplomats in the country and all options are on the table. given the president and his policies that the very credible

threat. the prospect of u.s. military is a very troubling one because of our history of intervention in latin america in the past. i'm not criticizing that in venezuela it may not be received well. stuart: tell me about border security. caravan 12,000 strong coming towards her southern border and in maine, portland maine overwhelmed their shelters and facilities overwhelmed by asylum seekers. tommy about order security now that frankly we haven't got a deal. >> the president said at the crisis. i am curious what is motivating these migrants to come north and who's causing trouble. i wonder if they are behind encouraging us. it is clear president trump wants to deal with this and all the democrats want to do is hurt him politically not defend her southern border.

stuart: fred flights, thank you very much. we have to draw your attention to the market because we've got a remarkable drop down 300 on the dow. down 304 points. i get back to that in a second. the price of oil down today nearly $2 lower at $51 per barrel. the price of gasoline holding around 226 per gallon. that's where we are. basically that's cheap gas. the big horde has a selloff going on here. down 310. put your finger on that. >> the future of gaming. is really falling out of bed and down the stairs. why when you look through what they are saying they make popular games that people play around the world. forecasting revenue growth from

gaining. this is hitting all the chipmakers and also warning about china. a global economic -- yeah, that's true. look at the hockey stick action right there. what's happening this week we've got nearly half the dow blue-chip stocks reporting a quarter of the s&p 500 apple, amazon, microsoft all reporting. this is a big week we take it off with the chips related stock like that with other chip players and also caterpillar about a quarter of the dow. it is caterpillar. stuart: is going to be a very big week. china trade talks, big tech reporting. what else have they missed here. jobs numbers on friday. you're a big week and were off for a red star.

train for global stocks dow jones number 698 trillion last year in market value in the rocky ride we had. they reclaimed about $3 trillion in value. the 24 k. line is pretty okay given what the dow stocks are taken late last year. stuart: 24,000 doing too bad. a new poll shows a large number of california resident ready to move out. they are unhappy with the cost of living in especially high taxes. the new governor, gavin newsom wants to raise taxes even more. we'll tell you what he proposes in a moment. kroger could be delivering to your friend door. they just invent a state in a fleet of robots. details coming up. if you've ever wondered what $20 million stuffed under a mattress looks like, here it is.

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stuart: this was a surprise at the screen actors guild award. "black panther" telecom best ensemble cast in a film beating out bohemian rhapsody and a star is born. it was also a good night for amazon. the marvelous mrs. meisel grabbed three awards, best ensemble. actors than three awards. they won. amazon stock however not reflecting that today. to plan a percent is $48 down. by the way, jeff bezos getting flak after public record shows he and has a strange. far less than the 1% or.

they did pledge to billion to a new charitable initiative in the process of divorcing. netflix with $45 million to buy the right to the book hillbilly elegy. ron howard will direct one man's account of growing up poor in the rust belt. a "new york times" bestseller 45 million is a huge amount of money to pay for the right. stocks down along with the downdraft overall for the market of $4 at $3.33. but france says blasting social media. facebook creates pirates of hatred and get riots of every kind of prejudice. someone on the show a little leader who agrees with the pope. facebook been getting hit with a lot of headlines in bad pr. millennial flood instagram.

is facebook stock immune? a fair question. will ask it and maybe we'll get an answer. will be back.

stuart: to start the week on wall street down 300 points about one and a quarter%. a sea of red amongst the dow 30. pope francis slamming social media, warning that these types lead to spirals of hatred. joining us now is john mayer, partner that transparent ventures and he's our visionary guy who looks to the future about these things. give me your reaction to what the pope had to say about social media. >> the pope believe it or not is pretty in line with where my views are right now as far as social media goes. what is interesting is that it does go a bit about social media. this is a conversation that is really necessary around tech industry and the data of much of the tech industry has on you, which as they mention is how do we dominate by the social media

company. specifically dangerous in my opinion again the fact that in the u.s. we still don't have any ability as a citizen who owns your data on where you live, where you go to school, how many kids you have. we still don't have any ability to be in full control over that. one of the things i've had a lot of thoughts about recently is the need for the u.s. to pass legislation to specifically allow a citizen in the united states to go to a very simple website and control whether that is or take the personal data they have on you. the spirals of page read in all but the pope mentioned, much of it comes from completely fake and are manipulated content being targeted towards you and social media. stuart: it's highly unlikely that we get that kind of

legislation. >> i think i will definitely be very unlikely. stuart: adapted the a complete reversal of fakes books business model and google, too. >> exactly. as time goes by it becomes an even larger ratio because as time goes by the revenue and his companies like facebook continue to grow and so does their lobbying budget and after. at this point i think what we are seeing us are talking about this now, there is a larger conversation happening is continuing to grow amongst the american public and we don't really have an ability to remove our data from any of these companies servers if we like because it's wanting to believe that with so your birthday, your face but profile. but that doesn't take it off of their servers. facebook still has a complete history of every comment come everything you searched,

everyone you friended. stuart: it's frightening. it really is. facebook has been getting hit with a lot of bad publicity, bad headlines lately. but no one else i'm love instagram, which facebook owns. does that mean facebook stock is essentially immune from all the bad pr because millennial so stay with facebook. >> it's a funny point you bring up. very true. most millennial still not realized instagram is on by facebook. one of the interesting things that i was sort of puzzled by over the last few days is facebook has just announced the plans to be assigned infrastructure of instagram, what's up in facebook together said the same data is going to be used on these other wraps. so when that happens and they're estimating it will take at least

a year or two to combine these three major social media platforms when that does happen users will naturally begin to recognize the fact that all three services around by facebook. whatever reason they're going in this direction facebook is quite honestly running a bit of a lucky wave right now on the fact most instagram users don't realize yet just how in control facebook is of the same data as well. stuart: you are right. it's frightening to me they know absolutely everything about you. and i mean everything. just don't like that. sorry. just don't like it. john, thanks for joining us as always. we'll be back to you shortly. facebook stepping up in this information about upcoming elections. lauren simonetti is here. what are they doing?

>> three things. political ad transparency. who put out the advertisement, who did it target in a public database where you can search on this site. number two, fact checkers. they won't populate as high. 30,000 employees. that can monitor the safety and security analogy into the bottom line. can i quickly comment on something john just said. facebook owns instagram what stop messenger. if they put all of them on the same platform, that could be a way that regulators can say you're too big to break up or to fight off the regulators in a sense. what facebook is doing with this, protecting themselves or foreign interference as best they can, they send a message to regulators we are on it. leave us alone. stuart: i think that's a very good point to make. they feel the attacks coming out

to them. they will defend themselves any which way they can and that may well be a defensive measure. that's for sure. i want to talk to you about robot. kroger using robots to deliver groceries to your front door. what's this all about? >> that is they are won by a company called mero and they're doing that in one zip code in arizona, very friendly artificial intelligence. why would you want -- you have to pay for this. place your order at the grocery store and made slippery to you, but like a little robot doesn't come out and go to your doorstep. you have to get out of your house go to the robot, type in a code and you pay for that. so why is this such a big deal? because it's a much stronger vehicle and they built it to be safe so customers can say other

cars on the road don't have to be so scared. stuart: that's the reasoning. it seems to be prototypical. a prototype of what we see down the road when delivery really matures, robots really matured and we do indeed get everything delivered. >> because otherwise you can use a nap on a spurious for instance. why would you something smaller different like that. i will pay good money for that. thank you very much indeed. now this. a new poll shows 15% of california residents are seriously considering leaving the states. not happy with the way it's run, especially the high cost of living and high taxes. we'll cover that story for you and more in california. governor gavin newsom is now calling on largest silicon valley to get the state $500 million to help build

affordable housing. got it. former starbucks chief howard schultz says these seriously think about running for the presidency 2020. president trump treated about that. howard schultz doesn't have the guts to run for president. watched him on 60 minutes last night and i agree with him that he is not the smartest person besides america already has that. i only hope that starbucks is still paying me their rent in trump tower. check the stock, please. starbucks is virtually unchanged. down 1%. >> the president should be egging on howard schultz because the democrat and get him reelected. the chair of the democratic state party in washington state say no to you howard schultz, don't do it.

democrats running as an independent with a few billion dollars. liz: he was asked by scott pelley, would you spend 500 million. he's against medicare for all. he is saying country can afford it. talking about the debt. that could be appealing to 40% who are registered as independent. stuart: he's quite a threat to the democrats. my opinion that you share at least. some people have been receiving more of those annoying robocalls. it is because a national do-not-call registry website was shut down during the government closure. talking to the company that targets robocalls so you don't get them on the show today.

on the shutdown i say there are three options now. number one, shut down the government again. number two, reach some kind of deal. number three, trump declares an emergency. which one will it be? we are on it.

>> all right, we are back taking a look at two stocks. alphabet, google and amazon. some analysts are saying this are saying these companies will be the future of electricity, managing electricity in the home. do we call google in 2014. amazon of course has amazon home services. also a company called ringley $4 billion. one of the former ceos of energy and energy sane these companies are the future because they have the data. more in just two minutes. keep it right here on fox business.

stuart: the longest government shut down in history may be over but the president still wants funding for the border wall. republican from pennsylvania is with us now. i think there's three possible outcomes here for where we are now. one, reach a deal. two, shut a government down again. three, declared national

emergency. senator tom coburn on the show said he thinks it's going to be a national emergency declaration. which one do you think it will be? >> i think we are going one way or another to secure our borders. the president has relented very temporarily shared for the good of our country not to score some cheap short-term political point. he's been negotiating in good faith and frankly so has the republican leadership. tim mccarthy, liz cheney, steve scalise have all been working to secure our border and open our government. the people of my district, the ninth congressional are more than just frustrated. they realize here in pennsylvania that we've got to be able to walk and chew gum at the same time in congress. i come for the business world in this level focus on results, this lack of result is more than just frustrating and it's time

to get something done. the president and the republicans lost. back off and reopen the government. >> again, the president have to do what he had to do in the short-term. his focus is on securing our border. stuart: will he lose again if they go through all of this all over again and were shut down the government. does he lose all over again? >> no, he won't. other options at his disposal. speaker pelosi took a victory lap here. they made the situation worse. we have a real order crisis. 400,000 illegals coming across that were apprehended. another 400,000 that were apprehended. 17,000 apprehended a criminal record. 90% of heroin in the next congressional throughout the country. we have the worst drug epidemic

in the history of our country. get the democrat leadership continues to say this is fabricated and they will provide a border wall and meanwhile border security as well as dhs, and they tell us that's exactly what we need. we've got to stop the nonsense. republicans are together on this. >> at the president declared a national emergency as a way to stop this nonsense on the border, with the full republican party back in and let the people of america backend? >> i believe so. the next steps here did set up a conference with 17 conferees, some good people on there from the house. so they are going to do their best to counter resolution. i don't know how hopeful i am but it must get done. come february 15th we have not reached a resolution that includes the barrier, but

include some sort of a wall where the border security says we need it, then the president has the absolute authority to declare national urgency and provide the funding to build the necessary barrier. i was supportive. stuart: congressmen, clean-cut and we appreciate that. we'll see you again soon. quick story on apple. the patent for sensors that could detect the presence of horrible gases like carbon monoxide. they might include defenses on future iphone and apple watches. the new sensors which might be coming on your devices. rococo's say they will rollout premium subscriptions on the streaming channel. no word on the price. that is nearly 3%. we've got to check the big board because very close to the low of

the day. we were down 390. now we are down 380. >> i'm very optimistic. but then, we've traced 3 trillion market wealth since i fell out. stuart: the problem is it's the start of a very big week. we've got the federal reserve meeting tomorrow. consumer confidence number coming out tomorrow. but that about a quarter of the s&p 500. coming out of the s&p 500 up 15%. pretty decent. stuart: we just had a fresh low. good timing. liz: here's the thing, stuart. no recessions. there's no indication it's going to be a recession. don't see it. stuart: down 390. the company of which target pose

ignoring robocalls so scammers have been taken advantage of the government shutdown which is why you may receiving an influx of those calls. bravo killer is with us next. >> my god i can't -- what happened? are you watching the television right now? do you see what's happening? 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.

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stuart: our next guest has a blocking out. and it is designed to fight those intensely annoying robocalls. a big spike since the the government shut down because the do-not-call registry was suspended. even cars back with us, vice president at robo killer. welcome back. the government shutdown is over. back to work.

does that mean the robocalls will stop? >> no, the chaos ensues especially three weeks are now who knows what's going to happen. we definitely have a high likelihood of this problem getting worse and worse and we expect a record number this on the five-point 4 billion. stuart: this month in the united states of america there will be five-point 4 billion of robocalls? >> what could be. they annoy the devil out of me as better tell you. if i get your app on my phone, what is it to you when robocalls come in? >> you set it up. protected from over a million. your phone will ring. in the background were going to answer those calls with robots of our run to waste their time. helps to get a little revenge, but also serves an important purpose because the time were wasting his time they can't talk

to you or to someone's elderly grandmother. they can't steal their money or identity. stuart: can i still make a phone call or using a phone for all your app is doing with the robocall. >> 100%. we've had them on the phone with these guys for over an hour which are found not taking it. that's happening on the back and. stuart: but the caller will know there's a live person on my phone. bill novak. >> they think they're talking to a real human being. stuart: if i ever drop your app, those will kill me. in other words you got to keep it on the phone forever. >> even without us you need something to protect you. 4 billion this month. everybody has the potential to them and getting annoyed. you need to protect yourself, but everybody needs something to protect them selves. stuart: you are admitting i am in for life on time and.

>> we would like to be in for life because we think we have a great product. stuart: if i'm not in for life i get slaughtered, which i'm a real live human brain. >> people have this idea if you press one her do this they know you're alive person. they're mostly auto dialing these cars. they look for area code over and over again. stuart: rowboat here is not free? >> it's got a free trial. stuart: so i'm locked in to $4 a month. >> if you buy yearly. stuart: i get a discount. >> in all seriousness, the few dollars you are spending that is real protection against a real invasion of your privacy and security. you are really at risk. the most vulnerable are getting

targeted. stuart: decent car, thank you for coming back to us. thank you very much. the price of a first-class forever stamp going up. we'll tell you how much you got to pay next. . .

stuart: i still think it's a bargain. that would be a first-class letter. i still think it is cheap and i still think it is the most private form of communication it is. however the cost of a first class forever stamp, it went up on sunday. 55 cents is where it is now. largest single price jump in the history of the postal service. it will cost more to send a priority package as well. by the way the postal service

lost $4 billion last year. liz is still here. where is the private form of communication? liz: still waiting for the check you mailed me. stuart: inregret the dow is now close to the low of the day. we're down 390 points. neil, it is yours. neil: stuart, thank you very much. we're following up on getting in and out of the lows of the day. caterpillar is contributing a quarter of that with disappointing earnings and sales on guidance that didn't exactly electrify the multinational community. a lot of names that dominate the s&p 500 are feeling it. boeing is another one. nvidia, the chipmaker reported much lower than expected guidance for revenues in the quarter that stock is already down 14%. it is carrying a lot of big names with it from intel, amd,