duffy, waiting for baby number nine on the way. oh, my god. congratulations, you guys. >> i saw the announcement on twitter. god bless you. god bless you. maria: great show. thank you so much for joining us. seize the day, everybody. "varney & company" begins right now. stuart, take it away. stuart: i will talk to you later about that, because that's news to me. okay. maria: now you know. stuart: a little bit. good morning, maria. good morning, everyone. update on trade. china's vice premier, their top negotiator, is coming back to america for more talks. there had been some doubt about this following president trump's tariff threat. it's shaping up to be a monumental face-off as friday's tariff deadline approaches. china's state media says america should not even think about concessions. a public very hard line. but president trump is playing a very strong hand. we have a booming economy, china doesn't. the president has solid political backing of the

democrats, as senator schumer says don't back down, and the president has the support of the europeans. they, too, want to face down the chinese juggernaut. it's tuesday. odds are that come friday, those big tariffs will be imposed on chinese goods coming to america. china's not likely to back off. they would lose face. and mr. trump rarely backs away without concrete action from the other side. maybe that's why the market will open lower again today. we're looking at a loss of, what, 170 points. not huge, but another retreat in the face of the china trade issue. look at the nasdaq. it, too, will be down again. you're looking at a loss of almost 1% for that tech-heavy index. now look at the price of oil. no price jump this morning, it's still at $61 a barrel. that's a surprise to me. a u.s. aircraft carrier is headed to the gulf after a specific iranian threat against u.s. forces. the oil patch is seething but prices have yet to reflect the

possibility of armed conflict. all right. today, we are going to dissect the medicare for all plan, not affordable no matter what senator sanders says. and we look at redemption. tiger woods and the medal of freedom. "varney & company" is about to begin. we are in the presence of a true legend, an extraordinary athlete who has transformed golf and achieved new levels of dominance. he's also a great person. >> i've battled, i've tried to hang in there and i've tried to come back and play the great game of golf again. amazing masters experience i just had a few weeks ago certainly is probably the highlight of what i've accomplished so far in my life.

stuart: isn't that something. president trump, the presidential medal of what was it -- ashley: freedom. stuart: that's right. honoring tiger woods. look, i was really happy to see that, because he's come back from the depths and he's been redeemed. that's terrific. susan: at 43, three shy of jack nicklas all time. ashley: i absolutely loved it. i still can't get over that masters this year. tiger woods, what a story. what an american story. i know he had his problems off the course and also all the injuries. it's the comeback story of all time. stuart: all good stuff. by the way, more on tiger later in this program. this morning we have golf legend, i don't stay that lightly, greg norman is with us today. let's get serious here. china trade, beijing confirms vice premier liu is coming to washington for talks thursday and friday with white house officials. joining us, our china watcher, gordon chang.

welcome back to the program. >> thanks, stuart. stuart: looks to me like the tariffs will be imposed on friday. what say you? >> i think so as well. if you talk to people in washington, there is just a sense of first of all, people are infuriated but also, there's just this frustration. people think if you let the chinese off the hook, give them another reprieve, they will just go through this whole cycle again of making agreements, taking them back, no one wants to do that. stuart: you think they can handle, can china handle the deal, the way we have been talking about it? >> there's two things that i say no. first of all, politically. xi jinping is at a point where he combanan't back down because responsible for the trade war. if he doesn't get 100% win i think he's toast. more important, the chinese economy. you have to remember that it's stumbling along, maybe 1% growth. stuart: really? >> in any event, it is accumulating debt five and a half times faster than nominal gdp, even if you believe china's inflated claims on growth. so that's up from 1.5 times a

year ago. that means whatever growth they have right now is completely unsustainable. people are worried about that in beijing and they don't think they can actually honor trade terms with the u.s. stuart: well, that puts them in a very, very hard place. their economy is declining and will do even worse if those tariffs were imposed, and they can't afford to go with the deal as it's currently structured. that's a rock and a hard place. >> it is very difficult for them which is the reason why i think they took back all of the commitments that they had made to u.s. trade negotiators, which caused president trump in his tweet on sunday to say look, i'm increasing the tariffs because i don't want to, he used the word renegotiate. nobody wants to renegotiate all of this with the chinese. stuart: you are painting a very dark picture here. the end point seems to be, from your point of view, we don't get a deal. no deal. >> i think that's a good thing. i think the best thing is no deal, because important for us to disengage our economies from them. problem is, china does not

believe in comparative advantage, the notion that underlies all of international commerce. how can you have a trade deal with people who don't believe in trade? or at least they don't believe in reciprocal trade. the problem here is we have got to face reality that we just need to get our economy as far away from china as possible. stuart: no deal means real trouble in the farm belt. >> yes. stuart: means real trouble for the supply chain of countless manufacturers, real trouble for america's economy. >> and you can't run decades of misguided trade policy and think that you can escape without some cost. this is the cost that we are going to have to pay for a sustainable economy. the overriding reality is that china steals somewhere like 300 to $400 billion a year in u.s. intellectual property. we have to do something about that. otherwise we just become an economy that sells primary products to the chinese and buys manufactured goods back. that's one of the definitions of colonialism. i believe if we are going to be

a sovereign state, we have got to make sure that we protect our manufacturing, protect our technology, protect our innovation. stuart: hard line gordon chang. thank you for being with us. >> realistic gordon chang. stuart: we'll take it. we'll take it, gordon. thanks very much. thank you, sir. let's take a look at futures. dh how do we open the market? we had a nice bounce-back yesterday, down 470 i think it was in the early going. we bounced back to a minor loss. futures now suggest we are going to be down another 200 this morning. come in, economist peter morici. i was going to say this market is resilient in the face of the china trade dispute but i'm not so sure about that now. what say you? >> i think it will be resilient. right now there's a little bit of a shock. remember, wall street is full of a lot of bankers that are very very liberal and anti-trump but the reality is america is coming around to the realization that trading with china is like eating four eggs for breakfast every day. it tastes good but it's terrible for your health.

the reality is the impact of these tariffs on the u.s. economy so far and going forward, the additional tariffs have been minimal. if they were as draconian as the economics departments in the big banks say, why is the economy growing so rapidly. the answer is if you look at the likely impact of additional tariffs on these $200 billion, a couple of tenths of a percentage point on the cpi, negligible effect on gdp. but in china, this could be, as gordon is describing, what pushes them over the edge. you know, we need that. we need regime change in china. i don't mean a revolution, but president xi has structured his presidency on the notion of chinese global dominance and the defeat of america. stuart: okay. all right. >> this is the way to defeat china. to put on the tariffs and if it destroys their economy, that's a good thing. stuart: okay. >> wouldn't it be better to -- stuart: maybe that's why futures are falling as we speak. now we are down nearly 240.

>> in the end it's not going to affect us that much. the market will come back. stuart: okay. i just want to move on to another subject here. presidential candidates, you know this, kamala harris, look, she's taking direct aim at the tax law, trump's tax law. roll tape. >> i am proposing that we change the tax code as follows, and this will benefit the members of almost everybody who is represented here. i'll tell you how we're going to pay for it. on day one we're going to repeal that tax bill that benefited the top 1% and the biggest corporations in our country. stuart: peter, you heard it. day one, repeal the tax law that benefits the 1%. what would happen to our economy if she became the president dan that? >> well, we would be back to the days of barack obama with slow growth, growing inequality, diminishing prospects for minorities. african-americans became worse off under president obama. now they are becoming better off under president trump.

women are doing much better with president trump, as are the handicapped, low wage workers are getting some of the biggest pay gains and the broadest opportunities for training. what we're creating is what president bush used to call -- the first president bush, an opportunity economy. it is just simply beyond the comprehension of kamala harris to recognize that the private sector can make america grow. all the government can do is give out a piece of the pie, handouts and so forth. what she would do is make her constituents dependents. stuart: got you. peter, thanks for being with us. big news day. got to get at it all. thank you, professor. see you again real soon. thank you. hey, look at futures. falling again, falling some more. now we're looking at a loss of close to 250 points. all this hard line talk about tariffs will be imposed, probably no deal in the immediate future, that's pushing the market down some more. look at that nasdaq, down 1.25%.

it's a down day on wall street today. it's been a week since juan guaido called on venezuela's military to end its support for nicholas maduro. that hasn't happened yet. we have a guest who says guaido was double-crossed. where does that leave venezuela now? we are into it. outrage growing over a disturbing video showing children in philadelphia vowing to kill in the name of allah. farmers caught in the middle of the china-u.s. trade dispute. former wisconsin governor scott walker is with us. what does he say about the china standoff that is hurting farmers in his state? "varney & company" just getting going. ♪♪ ♪♪

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stuart: tuesday morning, we were down 400 at the beginning of trading yesterday. we're going to be down about 200 and change at the opening of trading today. that's your futures for you. china trade. wisconsin farmers have been hit hard by the trade dispute with

china. come in, scott walker, former governor of wisconsin. governor, welcome back. always good to see you again. >> good to be with you. stuart: do you support these tariffs? >> well, the bottom line is we need -- ideally i would love to have no tariffs but as the president said at the g-7 not too long ago, last year in canada, the fact of the matter is his goal is to get to no tariffs but we already have tariffs on item after item after item from wisconsin and from the united states. we need to have a level playing field. we don't have it with china right now so i support the president pushing back and saying let's level the playing field with china and any other country out there. we can compete as long as we are on a level playing field. stuart: i know you have got an opinion piece on foxnews.com, and you are saying the republicans had better wake up because there's a democrat power grab going on, judicial power grab. i'm not familiar with the argument. will you explain it to us? >> for us, it's simple. eric holder and barack obama have been going around the country raising hundreds of millions of dollars to try and

legislate their way back into the majority. they pick a state and then they sue until it's blue. what i mean by that is in ohio and michigan, we have seen it in north carolina, in virginia, pennsylvania, they tried it in my state, they tried to take over the state supreme court. why? because they wanted to send maps for legislative redistricting to the courts with the idea being eventually by the time the census is done, they want to change the maps, they want to gerrymander their way into permanent control for the next generation so that people like nancy pelosi continue to be the speaker. we just cannot stand up for that. if we have fair maps, our candidates win because our ideas are better. stuart: but don't the republicans do that, too? doesn't everybody -- i hate to use the word gerrymander but doesn't everybody, both sides of the aisle, don't they manipulate the maps for each congressional district? >> well, the bottom line is in any state, you should have the people who are elected, the elected state lawmakers, be it the house, assembly, senate, whatever the legislative names are, depending by state, the people that actually have to be

accountable to the electorate, not these unelected bureaucrats, not these people in the federal courts that have lifetime appointments who don't have to stand before the voters, but people actually have to be accountable to the voters to make that decision. i think in the end these recent decisions in ohio and michigan will ultimately be heard by the united states supreme court and i think they will put the power back in the hands of the people who are duly elected. stuart: what do you say to this prospect. i think america should have the rule of law, but what we've got is the rule of lawyers and there's a big difference. what do you say? >> it's a big problem. unfortunately, we see the problem with not just in certain parts of the united states, we see it around the world. in venezuela, as we speak, we see the problems with socialism, where you put too much power in the hands of the few. we need to be in the many out there and the important part about that is one of the most recent examples is all the promises of prosperity that really led to mass poverty in a place like venezuela. it's why socialism fails. it's why you even see things as simple as their social network,

google, things like cell phones have been blocked. last thing i want to do is have a nationalized 5g system here in the united states. all those things lead up to the 2020 election, where the contrast is going to be between one of 20 or more candidates who embrace socialism versus donald trump and mike pence running for re-election embracing the american spirit which is about letting the people, not the government, decide. stuart: well said, sir. governor walker, thanks for joining us. always appreciate it. see you soon. better take a look at where the market's going to open this tuesday morning. we are walking up to the opening and the trading on wall street. we are going to be down again this morning, 200 points lower for the dow. representative ilhan omar getting some heat for her latest tweets. she is criticizing israel for defending itself against a barrage of rockets from hamas. that story, next. hi i'm joan lunden.

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take your business beyond. stuart: ilhan omar tweeting about the violence in gaza. here's the tweet. how many more protesters must be shot, rockets must be fired by whom, i would like to know, and little kids must be killed until the endless cycle of violence ends? the status quo of occupation and humanitarian crisis in gaza is unsustainable. only real justice can bring

about security and lasting peace. joining us now, lee zeldin, republican from new york, he's on the house foreign affairs committee. i know you have seen that. i just wanted to show our viewers. what's your reaction? >> if she wanted to change just a couple of words there and direct it at hamas in gaza, that can almost become a pretty accurate tweet, and one that i would completely agree with. unfortunately, what we have seen time and time again, though, when you add up all of her statements, her policies, her rhetoric, is that she is neither a neutral arbiter here with what's going on between the israelis and palestinians, nor is she an honest broker. it's surprising that she would get elected to congress. it's shocking that she would be appointed to serve on the house foreign affairs committee. israel is a great ally of our country. israel has an inherent right to self-defense of their nation, existential threats also that

are affecting their people, and they need to defend themselves, but what we're seeing, actually it's been worse with congresswoman tlaib and the way she went after some of the coverage of what's going on, where palestinian terrorists murder innocent israelis and instead you accuse israel of terrorism, that's actually worse than the obama administration's state department when palestinian terrorists would murder innocent israelis, they would accuse both sides of terrorism. it's kind of concerning this is coming from a member of congress. stuart: i just want to get this in as well. we've got this disturbing video from an islamic center in philadelphia. again, i know you have seen it but i want our viewers to see it. roll tape, please. [ speaking in a foreign language ] stuart: congressman, you saw that, you heard that. your reaction, please? what are you going to do about this?

>> well, there needs to be a counterintel and criminal investigation launched against the muslim american society. one of the co-founders of the muslim-american society is the former head of the muslim brotherhood. the muslim american society has many direct ties to the muslim brotherhood. you also, in order to become an active member of the muslim american society, it requires you to study the writings of brotherhood idealogues so there needs to be a counterintel criminal investigation and it's even more concerning when the muslim american society calls this just oversight, makes you think that what they are upset about is not that this is happening, but that somebody posted the video on their facebook page. so they're not going to be able to investigate themselves and i think there's a lot more to this one. stuart: got it. congressman, always appreciate you being here. see you again soon. thank you, sir. >> thank you, stu. stuart: quick check of the market. we will open up in less than

five minutes, down 200 for the dow, down 90 for the nasdaq. we'll be back to cover it for you. i'm working to make each day a little sweeter. ♪ to give every idea the perfect soundtrack. ♪ to fill your world with fun. ♪ to share my culture with my community. ♪ to make each journey more elegant. ♪ i'm working for all the adventure two wheels can bring. ♪ at adp we're designing a better way to work, so you can achieve what you're working for.

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stuart: all eyes on wall street this morning. what are we going to do? we've got the threat of tariffs being imposed on china trade

come friday. big tariffs, at that. looks like it's going to happen. this market this morning in literally ten seconds is probably going to open lower because of the tariff threat. they are ringing the bell. when the bell stops ringing, they start trading and here we go. it is 9:30 eastern time, up and running. i think we will be down. yes, we are, minus 189, minus 229, 233, 237, 241 on the downside right from the get-go this morning. the vast majority of the dow 30 are in the red. we are off roughly 1%. that's the dow. now check out the s&p. a broader based indicator. it's down sharply but not quite as much as the dow. .79% and the nasdaq is down 1%. we are off 79 points on the nasdaq right there. who's with me? i need help. mike murphy, d.r. barton, susan li and ashley webster with us. first let's get to china trade. that's the issue of the hour. if we impose tariffs come

friday, big significant tariffs, 25%, $200 billion worth of goods, how does the market take it? is it bad for the market? >> it's not. you had a real reaction yesterday morning, we were down 500 points. we recovered all of that. seeing a little sell-off today. no, we are not getting a deal. the two sides walking away from the table would be bad for the market. other than that it's just bluster. a deal will get done, i still believe, but the tariffs in the short term help the u.s. economy. stuart: so this -- boy, you have got that look on your face that says murphy's wrong. >> no, not that murphy's wrong. i just think that i have been against this -- the way the tariff troubles have been managed. i think the trump administration got this one right, that because china has everything going for them time-wise. they can steal all the intellectual property they want and i say that very plainly, and they can keep the free markets open. they don't need to do something quickly.

and trump and the administration is calling their bluff and saying we're not going to let you string this out forever. i think this is going to wind up being a positive. susan: you called the reaction of the chinese markets the worst selloff since 2016 and the worst one-day reaction in three years. they are obviously feeling it more considering where we saw the markets end yesterday. you have to judge it, as warren buffett says, if they are not raising interest rates, this market could go higher. stuart: let's suppose there is a trade deal. i'm not suggesting there will be but let's suppose, let's speculate wildly here. you think the market goes straight up, i take it? >> it goes higher. it's one negative that comes off the table. but i think, stuart, i feel it's safe to say a deal of some sort will get done. >> i think the right deal that does the correct intellectual property protection, opens markets up more appropriately, will spike the market. not just send it up. it will send it up big. stuart: melt up. love that expression. i would like to see it, too.

the ride sharing company lyft, they report their financial results, it will be their first report since going public. i think they come out this afternoon. $60 a share as we speak. i don't know, uber comes out on friday. susan: debut on friday. stuart: lyft went out at $72 a share as i recall. now it's at $60. what does that say about uber? >> well, i think uber already lowered their offering price from $120 billion down to the $80 billion to $90 billion valuation. if you look at lyft, you hit the nail on the head. a few months ago they went public and the bankers priced the stock at $72. that's where the deal got done. that's where it was priced. now you are buying the same company at just over $60 a share. i think if they come in even close to the number, there's a lot of upside. susan: most analysts are still overweight on lyft for some reason. but you can't compare uber to lyft. we are talking apples to oranges. uber's $11 billion in revenue last year. lyft is at $2 billion.

uber has so many other businesses, food delivery, self-driving cars. stuart: here's where i'm coming from. i wouldn't buy uber on day one and i didn't buy lyft on day one. i will wait for both of them to settle down, give them six months, because i would like to get into that technology. where am i going wrong? >> i think you are 100% right, because it is technology, it is a longer play but the way the market is now, when the companies are coming public, they are getting a premium. you sit back, you wait and you get a better opportunity. ashley: long-term trend. we have seen over 70% of ipos, you can get them at a better price. you have the numbers on your side, stuart, and there are some uber investors and uber executives that are on pins and needles because of bad lyft number today could hurt them on friday. stuart: interesting. okay. check the big board. we are now 4:30 into the session this tuesday morning, down 200 points. the ten-year treasury yield, let me see it, please, 2.47%.

gold, i was expecting gold to go up with an aircraft carrier headed to the gulf but no, it's down again. off a buck at $1282. i was expecting the price of oil to go up with an aircraft carrier heading to the gulf but no, it's down to $61 per barrel. we will let this pass. walmart, this is a story, a good one. walmart ramping up its pet business, launching is it an online -- susan: walmart pet rx. they are launching walmart pet rx.com which is a pet pharmacy, if you need it. because $75 billion will be spent on pets this year. $75 billion. half of that goes to food, the other half goes to veterinary care and also medication for their pets as well. stuart: i wouldn't necessarily buy walmart. i would buy the pet food company. wouldn't i? >> for sure. but what walmart is doing is

bringing in the healthy pet food companies to sell food within walmart. they are thinking differently. walmart, this huge company, is thinking like a startup, trying to find different ways to make your experience to come into the store, or go online, better and they are doing a great job. ashley: pet industry is huge. absolutely huge. as the owner of two dogs, who was just in a pet store last night with the dogs running around, the dogs picking out everything, i swear to god, it's a big, big business. if they get into the vet clinics as well, really smart. susan: don't forget, amazon has wag.com. petsmart has chewy.com which will ipo pretty soon. target has bark box. everyone recognizes this is a big money maker, spending on your pets. >> another great way to get people in the door. once they get in the door to do their veterinary things, they have the whole walmart store to buy from. stuart: i have a couple dogs. how much do i spend on them? susan: a lot. stuart: amazon's first go, go convenience stores, they are

opening one in new york city today but it's got a difference. what's the difference? susan: they accept cash. this is opening near the world trade center. basically, amazon go stores were meant to be this cashless store where you walk in, you walk out with your goods without having to pay at a cash register. here in new york city, when it opens up, it will be the first one to accept cash. that's because of laws coming in. we know philadelphia banned cashless stores because it discriminates against the poor, those that can't get access to bank accounts and credit cards. new jersey will be passing a state law pretty soon and then new york city and san francisco considering similar measures as well. >> cashless discriminates against the poor, shouldn't you just give the poor cash? susan: let them go in and buy something at amazon go? stuart: don't give them ideas. susan: what's the difference in amazon now accepts cash, how is it different from 7-eleven? stuart: why can't a large retail operation run its retail operation the way it wants to

and the way it thinks it will be efficient? susan: you have to anticipate regulation as well. they will enact this law, you have to be forced to follow the rules anyway. might as well get ahead of it. stuart: doesn't it identify poor people? if i walked in there and said sorry, i don't have my credit card, i got nothing, i got cash, though, and they say all right, we'll take it, don't i stand out as being poor in a cashless store? susan: more than 25% of transactions in the u.s. are still done by cash. no, you don't stand out. stuart: i have been put in my place. susan: i'm just saying. stuart: just saying. you sound like my teenaged daughter. the "wall street journal" reports that tesla plans to sell owners cheaper car insurance. buffett says insurance is not an easy business. is musk asking for trouble? why is he doing it? >> here is the -- they are burying the lead here. he wants to sell insurance because he can use the information they gather from individual drivers to price your

insurance. if you are an aggressive driver, they can see that you drive over the speed limit, you decelerate very quickly a lot of times, and they can say we are going to make your premium higher and the people who drive more carefully, we will make your premium lower and are they asking for that data? you had to give them permission to collect that data. it's a tough one. >> one thing, insurance you need a lot of money to run that type of a business. i think elon musk has enough to focus on, having money to operate tesla, not operating an insurance company. burning through it. stuart: i don't see a market that big for electric cars unless you have a big tax break and i don't see a real big market for self-driving cars. i don't care what you say. i just don't see it. >> i'm with you. ashley: totally agree. >> self-driving, i'm going to take the other side of that one. self-driving cars are the way of the future. stuart: wrong again, d.r. >> much safer. stuart: google is going to launch a new privacy tool. okay. i'm interested. susan: so it's to limit cookies.

nou co you know cookies are basically tools built in 1994 to track where you're going on the internet. google chrome is going to limit those tools in the future. some say this is an achilles heel for the technology and also for third party advertisers as well. if you can't get the data and follow people around on the internet to know what they're looking at, how do you know how to target what they want? stuart: i would just like google to stop reading my g-mail. that is too much to ask? susan: what's in there? ashley: he doesn't know his password. stuart: i was going to expound on this. 9:40 eastern time. d.r., murphy, fine performance. myself notwithstanding. we are still down 200 points. that's the way we are ten minutes into the session. 26,230 is where we are. we have a new poll and it shows president trump's approval rating hitting its highest level yet. i think it's part of a political shift. i think the tide's turning in the president's favor.

look, that's my opinion. you will hear more of it at the top of the 11:00 hour. democrats pete buttigieg facing criticism for saying america was never as great as advertised. we have brian kilmeade to weigh in on that in our next hour. and the far left continues to tout medicare for all as the solution to health care problems. but even "the washington post" says you can't have medicare for all without trade-offs. that would be much higher taxes on everyone. what a story.

stuart: down 200, that's our reading on the dow after 13 minutes of business. how about this for a headline and it's from "the washington post" and it's from the editorial board, no less.

no matter what sanders says, there's no medicare for all without tradeoffs. joining us now, senator john barrasso, republican from wyoming, who is himself an orthopedic surgeon. "the washington post" says you want medicare for all, you've got tradeoffs, specifically higher taxes on everyone. that's just one objection to medicare for all. what's yours? >> well, if you get this one size fits all health care in america, people will pay more to wait longer for worse care. i will tell you that as a doctor who has taken care of patients for 25 years, that's what you get tan waand the waiting is no for the treatments, it's also for the technology. so it will be costly and it will be complicated and people are going to lose choice and lose control of their health care. stuart: we have had reports that some doctors are just leaving the profession. youngsters are not getting into

the profession. one of the reasons is all this electronic recordkeeping which came in with obamacare and would presumably be much worse in medicare for all. is that a problem that you see? the electronic paperwork? >> it's become a nightmare for not just the providers but for patients as well because instead of the doctor listening to and looking at the patient, they are focused on the computer screen. so it's depersonalized the doctor/patient relationship. so the more government gets involved, it stands between the doctor and the patient, the worse it is for both. we are really concerned in wyoming about our small community hospitals staying alive and open, because the congressional budget office in looking at this one size fits all health care, bernie care, are saying small hospitals will close and that will hit rural america the hardest. stuart: would you talk to us about the china trade deal and president trump's threats to impose tariffs come friday?

we notice that senator schumer was very much in favor of the president's hard stand. would you say that both sides of the aisle are united in agreeing with president trump on the hard line with china? >> let's say a couple things. one is, what the president is doing is justified, i think it is what has brought china to the table in the first place. the american people understand that china cheats in terms of stealing trade secrets, in terms ofishing regulations, hard access to their markets, so the president has brought them to the table. now i think it's time to get the deal done. in terms of my home state of wyoming, we are free traders, we want fair trade. we have products to sell overseas. the impacts of tariffs and retaliatory tariffs have hurt the agriculture community so i think the president is right and justified, but we need to get the deal done now. stuart: i don't think a deal will be done. what do you say to that? >> well, we'll have to see what

happens. the president, you know, there is supposed to be a dinner thursday night. my focus is getting a deal done and i think the president realizes that as well. stuart: i would love to have a camera in that dinner. we probably won't get it, though. senator john barrasso, republican, wyoming, thanks for joining us, as always. >> thank you, stuart. stuart: yes, sir. big mobile carriers sued for selling your location data. that's new to me. ashley: a lot of it. 100 million customers with verizon and at & t, 50 million of t-mobile and sprint. essentially what they are accused of doing is selling your geolocation information to a broker, and what that broker does is allow law enforcement to get access to your information on your location without a warrant. so this is very popular with bounty hunters and what they call low level law enforcement who are just trying to track down people. all of this of course without your consent. it's a class action suit. there's no specification on what they are actually wanting, the

damages being asked for, but it's a big deal. the ftc are being implored by many senators and congressmen to track down what these companies are doing and how can they do this without the consent of the customers themselves. stuart: we really don't have real rules in place about privacy. we are trying to get there but not even close. susan: i find this scarier than the cookies on the internet. this is real. people can find you. you could be physically hurt. ashley: they can pinpoint your location. stuart: glad i knew that. check the markets. we are, what, 28 minutes in. that's all. we are down 240 and there's a mass of red amongst the dow 30. it's a down day so far. session lows, i should say. there you go, minus 253. low of the day. nicholas maduro clinging to power after juan guaido couldn't convince venezuela's military to switch sides. the news isn't all good for the dictator, though. next, one of our top venezuela

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stuart: there you have it. low of the day. this is all about the china trade dispute. looks like tariffs will be

imposed friday. looks like a deal will be very hard to come to. so we're down 300. look at this headline from the "journal." venezuela's rebellion that wasn't. that was written by mary anastasia o'grady who joins us now. that failed rebellion, by any other name, it failed. >> the overthrow of maduro last week failed, yes. but what i was saying in my column was the news wasn't all good for the dictator. there were a number of people in his inner circle who were negotiating with the opposition to basically unseat him, get rid of him, then put together something that would open the way to new elections. the reason it failed, i think, is because these people he's negotiating with are criminals. they have been practicing criminality not only human rights violations, but stealing a lot of money, and they want some kind of guarantees in this transition that will protect them, and i think protect the

structure of the military that they run right now. so it's very tough to meet their demands and still move on to a democracy. that's one of the reasons this failed, i think the big reason. stuart: why do you say that maduro had better sleep with one eye open? >> i think he should also get a food taster, by the way. because what happened here was you had the head of the military -- well, the secretary of defense, minister of defense, a guy called vladimir pedrino, and he was one of the key players negotiating with the opposition. basically, what you see here is all these guys, the head of the regime, supreme court, this guy, another guy who was running intelligence who actually did defect, they were all talking to the opposition, yeah, we got to get rid of this guy. so they are open to that possibility, and if the opposition ever hits their bid,

gives them something they want, they are happy to throw maduro overboard. i think that's what we learned last week. stuart: i don't want to throw a curve at you because you may know nothing about this, and i really don't want to do that, but i read a report somewhere yesterday that maduro had been invited to an economic conference in russia next month. that being the case, and if he went, that's a way of getting him out and let the russians take care of him. i'm sorry, i can't remember where that report came from but i heard it. >> you bring up a couple of good points. number one, i would find it strange for him to leave the country at this time. i see your point. but the second point which i think is the more important wornone, the main reason this failed is because these bad guys, these criminals, have the backing of cuba, russia and iran. you know, if you think about what happened in eastern europe, people say well, you had a transition to democracy there, yes, but the sugar daddy fell, the soviet union fell, and that

opened the opportunity for people inside the country to come to an agreement and do this transition. i think that the u.s.'s number one objective has to be to get cuba out of venezuela. work on that more than working on some kind of an agreement in venezuela because if you work on an agreement in venezuela when the bad guys still have cuban and russian backing, you are going to end up right back where you are even if you get rid of maduro. stuart: i thought it would be over by now but it's not. thanks very much. >> thank you. stuart: it's been two years since the hit show "duck dynasty" went off the air. one of the show's stars, what is he doing now? three of them are going to be on our show, later on today. we are talking faith to the three "duck dynasty" guys. the democrat presidential candidates are still pushing the proposals that would, in my opinion, cost a fortune and really harm our prosperity. i think that's a really weak electoral platform for them to stand on but they are standing

on it nonetheless. we will dissect it in a moment. it turns out, they want me to start next month. she can stay with you to finish her senior year. things will be tight but, we can make this work. ♪ now... grandpa, what about your dream car? this is my dream now. . . that's a blazer? that's a chevy blazer? aww, this is dope. this thing is beautiful. i love the lights. oh man, it's got a mean face on it. it looks like a piece of candy. look at the interior. this is nice. this is my sexy mom car. i would feel like a cool dad. it's just really chic. i love this thing. it's gorgeous. i would pull up in this in a heartbeat. i want one of these. that is sharp. the all-new chevy blazer. speaks for itself. i don't know who they got to design this

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stuart: okay, i got in literally 10 seconds we have latest number on jobs available. this is technically called the jolt report. job openings. ashley: labor turnover. stuart: thank you, ashley. susan: we do have it. very strong, 7.488. ashley: 7.488. which is huge. stuart: that's a very big number. let me interpret this here. it sounds technical but it is not. there are 7,480,000 jobs unfilled. ashley: correct. stuart: going abegging. ashley: this is from march. february came in lower than expected but this is a blowout number. stuart: this is blowout number. very, very strong. more jobs available than workers available. shot -- scott shellady, market

guy. 7.48 million jobs going abegging. your take please? >> my take obviously the u.s. economy taken on its own, if saw numbers last week which were fantastic. look at that versus the rest of the world, stuart. we're really doing well. this is another number that will tell us going forward that will be the case. i think the stock market is is trading these numbers, not any potential deal with china. stuart: we hear you, scott. i will get more from you in a second. have a look at on the left-hand side of your screen. the dow is down 270 points. no reaction to the blowout number of jobs available. 7.48 million. now this. it was strange to see the left criticizing its own. that is a rarity in politics. the democrats have a history of at least public unity, but dissent, division ask now appearing in public. medicare for all, bernie wants

it, so do many of the 22 presidential candidates but editorial board of "the washington post" no less says, hold on a minute. it is not the promised land. the post says there is no medicare for all without tradeoffs, specifically, much higher taxes on the middle class. as well as the rich. bernie likes to use denmark as an example how to do health care, right? but denmark charge as 56% tax rate on incomes of $80,000 a year or more. 56% at 80,000. denmark imposes 25% sales tax on everything. does middle america want to pay that kind of price for medicare for all? i think not. then there is the universal basic income scheme, favored by the more extreme presidential candidates. this is the plan to give all adult as monthly income with no strings attached. you don't have to work. spend it on anything, great. free money.

uh-oh, not so fast. britain's the guard nan newspaper, a very left-wing operation, quote as study of 16 universal basic income schemes that have been tried around the world. the study was constructed by a global trade union federation. there is no evidence that any of the schemes were sustainable. in other words, they could not be paid for. and none significantly reduced poverty. it is the same with the green new deal, just not affordable. you can't pay for it. free college, you can't pay for it. what a mess. 20 months to the election. the economy is booming and the democrats are pushing while schemes that would cost a fortune and disrupt the prosperity that we now enjoy. that is really weak electoral platform. okay that is my opinion. second hour of "varney" coming up for you. ♪

stuart: i want to bring back shellady, the guy with the cow jacket. i hope you heard what i got to say. i think their electoral platform is financially weak at the very least. and you say what? >> i 100% agree with you, stuart. i also saw the study on universal basic income. all i can say is this, all it can conclusively say all it did successfully is buy votes because everything else failed. interesting to see them cannibalize themselves. we haven't even started debates yet. it will be a fun 16 months. stuart: your comment own the market? we hit a new low. we're down 320 points as we speak. what is this all about? is this china trade, isn't it? >> yeah this is a hiccup with the china trade and trump's tweets of last week. here is what i have to say. the market is telling us two different things. i think equity markets is all-time highs. we're trading the strength of the u.s. economy. even more so the strength of the u.s. economy against everybody

else out there. there is lot of stuff telling us that the china and u.s. will not get a deal done very soon. we have soybeans and ag markets are on their lows. china announced it would import 40% more cotton. what do you think cotton would have done on the back of that news? guess what? it traded down. there are a lot of folks trading these markets that don't trust the chinese especially in the ag world. the markets are going lower. interest rates going lower, bond rally, interest rates going down. everything except for the equity market will tell us we'll not get a deal done very soon. stuart: maybe that is what the equity market is telling us, the stock market. scott, see you real soon. i want to tell you something that is happening right now, senate leader mitch mcconnell is speaking on the floor and is telling democrats stop the fascination with russia, russia. republican michael walz joins us

from florida now. i thought the democrats will investigate to death for the next 20 months. what say you? >> enough is enough. the democrats have to decide do they want to govern or do everything they can to take this president down? i came back from two weeks in florida around my district. no one is is talking about russia, russia, russia. they're talking about the environment, infrastructure health care, national security and things that affect their lives. to my democratic colleagues breathlessly are is been waiting on the mueller report along with some pundits you have to accept its findings. the report was extensive, two years, millions of dollars, hundreds of investigators, agents and analysts. now they want to investigate the investigation, the investigators at some point we have to move on to deal with these issues that americans want dealt with. stuart: mitch mcconnell is telling them to knock it off. i don't think they will. next one, congressman, mr. trump's hard-line on trade, very much in the news today. looks like more tariffs this

week will be coming down the pike, specifically friday, 25%. looks like it is going to happen. are you okay with that? >> i am okay with it. i fully support it. it was nice to see senator schumer on the other side with the president's back on this. sometimes politics can stop at the waters edge but look, what this is about is the wholesale theft of american technology. the chinese are stealing their way to the top. they're forcing companies who want to do business in china to share their ip. they're investing wholesale in silicon valley, and stealing the technology. we saw a report that they have stolen the nsa, the national security agency's most sophisticated tools, turned it on us. this is from satellites to drones, to our stealth technology. this is not just copying some iphones or stealing some cds this is about china as a matter of state policy stealing america's technological edge and trying to usurp us as a global

leader. stuart, where this is really going to play out is in the 5g debate we're seeing play out all over the world. huawei, the number one chinese provider of 5g technology, if you look at chinese law, has to provide whatever data is passing through there to the chinese government if requested. that is going to infect the the world internet backbone. there's a lot at stake here. really support the president on this one. stuart: congressman michael waltz, thank you very much. >> thank you. stuart: we want to talk about two companies going public. deal with the coffee company. susan: this is the starbucks killer in china called the lukin company. they only had a handful of stores. they are targeting 4500 stores over the next year, compare that to starbucks which is looking at 3600 stores.

so they're looking to build 3 1/2 stores, one store every 3 1/2 hours in china. starbucks is looking to build one store every 15 hours. stuart: where is is the quote? susan: nasdaq, 15 to $17. looking at high-end. they are making losses at half a billion. they expect to go public despite the china trade dispute. stuart: there is another ipo scheduled. susan: they were going to start the road show, but they will delay the u.s. ipo. they were looking to raise half a billion because of the on going you trade concerns. stuart: the white house is on alert as new intelligence reveals fresh iranian threats to americans, our forces. that led to the deployment of the aircraft carrier in the gulf. what kind of threat are we talking about here? we have the news for you. >> democratic presidential hopeful pete buttigieg takes a jab at president trump's

campaign slogan, that america was never as great as advertised. we'll see what brian kilmeade thinks about that. what a strategy to win votes. also ahead three members the "duck dynasty," jace, al, phil robertson join me in the studio. we will talk about faith and why they're not ashamed to admit it publicly. big hour ahead. just getting started.

stuart: how much are we talking about? ashley: the limit they're selling on amazon, by how much are we talking about hire?

about a third of all revenue around the world. when you take out the privacy tours, what are you going to do? it is about 90,000 a year. talking about all businesses? they average about 90,000 a year. stuart: these are the third party sellers. ashley: they make 90,000 on average, generated how much here, $160 billion in 2018. that is -- you have a product you want out there, start the fledgling company, amazon is is clearly powerful platform. stuart: amazon destroys jobs in one sense but creates them in another because of increased retail activity. ashley: absolutely. 4,000 items a minute are being sold by small businesses on amazon. an incredible stat. stuart: 90,000 bucks an average? i i'll take it. i'll take it. the trump administration we know deployed a carrier strike group to the mid-east. according to the "wall street journal" the pentagon was operating on usually specific

threats to american forces. walid phares with us, fox news national security analyst. do you have any information on what kind of threat, how specific was it and against woman profited -- whom prompted the deployment? >> these were statements made by leaders of iran, specific command structure of the iranian revolutionary guard and those statements started to be issued after the president and administration designated the iranian revolutionary as a terrorist unit. this is one of the reasons. the one. reasons to send the carrier task force into the region. this is a message basically to the iranian leadership you cannot continue with the production of long-range missiles, deploy them at any point in the middle east, have your militias all over the

region. stuart: on one hand we have a cease-fire between israel and hamas. that followed a weekend of rocket attacks. on the other hand we have specific threats against americans by iran and a carrier task force group in the gulf. are these two events connected? i guess my question really is, are we headed towards a wider war in the mid-east? >> let me begin with the more specific question, are they connected? i would vote for yes and the reason is that hamas, who is, which is sending those rockets into israel is nothing but a strategic ally to the iranian regime. they act against israel. so they could create a focus and tension putting pressure on us, in the sense, oh, if you don't stop your pressure on iran we could open a war against the israelis. i believe another reason, diplomatic reason why the washington decided to send a task force. you are going to send rockets to

israel, iran is threatening with us missiles, then we will send a task force. stuart: is there a chance they will back down. >> there is chance they will back down. iranian are under pressure of very strong economic sanctions. they are playing a game they have not played before. they want us to feel they can go to war and play chicken. stuart: the best hope would surely be iran's population, the ordinary people of iran are suffering mightily as the economy collapses. that is the best hope of the administration to end this without a military clash, right? >> i would agree one 100% with . the big story in 2009 when we had it, 1.5 million in the the streets of tehran, former president, president obama said nothing, which gave the iranian regime. that is eight years, that is what we're up against now. stuart: walid, thanks as always bringing your expertise to the subject that we appreciate, sir.

thank you very much. >> thank you. stuart: joe biden continues to down play the threat of china. he is telling people, don't worry about it? could he be more wrong? we'll tell you. ♪ i'm working to keep the fire going for another 150 years. ♪ to inspire confidence through style. ♪ i'm working to make connections of a different kind. ♪ i'm working for beauty that begins with nature. ♪ to treat every car like i treat mine. ♪ at adp we're designing a better way to work,

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go beyond the expected, to do the extraordinary. take your business beyond. stuart: 1% lower for the dow industrials. "usa today"'s owner gannett, they're trying to fight off a take over by a hedge fund.

jackie deangelis is here. the newspaper business is all but dead. why would any hedge fund, any interest interest in gannett? >> it's a great question. really interesting answer. gannett has 100 different properties, you read u is sa today, some of the other ones, "detroit free press." they're working on digital transformation, slow gaining traction there. the company can do this on our own. we can leave the way we are. we have a plan in place. nmg enterprises, largely present in the digital space, no, we'll take you over, $12 a share, premium where you're trading right now. we'll do this faster, more efficiently then you're able to do it. all comes down to the fight on may 16th, the shareholder meeting. where the board seats are decided. stuart: this hedge fund will offer $12 a share for a company currently trading at $9 a share. the company's business gannett, i hate to say it, they're not

doing well. >> they're not doing well. but the content is there. f they figure out that way to move into the digital space. stuart: have you few newspapers figured it out. >> "wall street journal," "new york times," "washington post," maybe. financial times, maybe. the rest are floundering. stuart: the rest are. >> the rest are floundering but "usa today" is a popular brand a lot of people read it. it is interesting because the company reported earnings. they did have a loss. they talked about digital only subscribers, they increased 39% year on year. they will take time showing progress. they say m and g. they're a destroying of newspapers. they will come to take the assets. rip them up and shred them, sell them for pieces. stuart: they probably will. >> they probably will. stuart: i'm a newspaper guy actually. i love newspapers. you open them up to see the world right there. you read what you like. you doesn't have to mess around with these things. >> so much content on the small

little screen, hard to absorb it all. with the paper you can feel it and touch it. you're old school, stuart. stuart: i think i put firmly in my place. you're right jackie. this is your third appearance on "varney & company." but not your last. >> i'm already in trouble. stuart: not your last. good trouble. >> nice to see you. stuart: then we have macao epicenter of gambling in asia. i've been there. extraordinary place. that could be changing. susan: they have competition, chinese gamblers are going elsewhere, singapore, south korea, philippines, and australia. you know macao saw $30 billion in gaming revenue. six times the las vegas strip. it's a wealthy chinese, you want to gamble, you can go elsewhere as well. hop in the plane, travel is cheap. they're looking elsewhere. but only vegas player that has

assets outside of macao, profitable. sam's in singapore. stuart: have you ever been to a casino in macao? >> many times. probably far too many. stuart: radically different from vegas. >> the service is better first of all and food. stuart: it is quiet. the casinos are quiet. ashley: can't her the ding, ding, ding. >> it is not family-oriented gaming place. it is all about gambling. there are no shows or live theater, et cetera. you don't bring the family. ashley: serious gambling. stuart: all the laid. i had a blast. next cases. gaffe by any other name. this was a gaffe by joe biden. he said, margaret thatcher is worried about president trump. unfortunately margaret thatcher,

the great margaret thatcher passed away several is years ago. i would call that a joe biden gaffe. what does brian kilmeade think about it? he is on the show. google is making it harder for companies to track you on line. our reporter robert gray is google's developer conference in mountain view, california. he has the story. he will tell us all about it. next. ♪

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♪ stuart: really going way back now. that is early days. one much your favorites. susan: one of my favorites. stuart: you weren't even born.

susan: you know, they have classics on-line as well. stuart: i forgot that. whoop-dee-do. we come back a bit. not come back that much. down well over 300. now we're down 370. the dow 26,170. the botox maker allergan considering a split in two. i don't think investors like that. don't like it. down 4 1/2%. six bucks. allergan -- what did you say. ashley: were surprised about the botox. susan: no. no. investors are looking for a split. stuart: botox, susan. don't forget that. google trying to make it harder for companies to track you online. come on in robert gray. you're at google's headquarters. what are you doing? >> yeah. that's right, stuart. they have the io developers

conference going on. privacy has been a hot button issue over the past year. they are under pressure from lawmakers and lawsuits. google reportedly out the new privacy tools you're mentioning. "wall street journal" reporting that they will make it hearter for other companies on-line. google will collect your data. but third party advertisers won't see what you search for last week. you won't see pop up ads what you're looking for in the past. it may give google a bigger advantage over the online advertising rivals. keep in mind, stuart, after they reported quarterly earnings, big disappointment there, the reason the stock sold off sharply was concerns about advertising revenues. start to hear the announcements coming out with sundar sundar pichai takes the stage, i expect them to hear we won't reach for stuart varney's gmail but i

don't expect them to say that. thank you, robert. vice premier liu he, china's chief negotiator will be here in washington for more talks. curt till ellis is back with us. trump top advisor own trade. looks to me we will impose tariffs on china on friday. you take me on? >> unless china gets smart, they will get hit with some tear rivers. president trump is not backing down. he is taking on china first time in 30 years. we have a real negotiator willing to do the tough talk and tough walk. china has never lived up to the promises since joining the world trade organization. that is exactly what spurred this latest round of tariff talk, if you will. is that they have reneged on the agreements that they have been negotiating for the last three months.

remember, these, 25% tariffs were supposed to take effect january 1st. stuart: all right. >> we postponed them until march 1st. we postponed them again because talk were going well. progress was being made. now they're backtracking on everything they told bob lighthizer, robert lighthizer our trade representative. this is not a crew you want to mess with, lighthizer and trump. they're serious. stuart: seems there will be tariffs imposed on friday. that is only three or four days away. that's it. >> that's right. stuart: i'm beginning to wonder if there will be any trade deal at all because president trump is not going to back away and the chinese cannot afford to go with the suggestions of the trump administration. it would ruin their economy. i don't think there is a deal here. >> that's right. their economy is based on theft and espionage and subsidies. these things are incompatable with our system of the western industrial democracies. the europeans realize it. we realize it.

everybody but a few people are making money selling chinese ipos realize it. we cannot sustain our country, our economy, our future, if we allow china to continue the way it has been going. now perhaps there are reformers that are willing to rise up in china and straighten that situation out but the communist party of china would be the big losers. stuart: we have joe biden is saying that mr. trump is wrong and that china is not a threat. you saw the sound bite. i won't run it again. you know what i'm talking about. what do you make of that? >> this is amazing joe biden falls into the category of upton sinclair you said you can't get a man to understanding something if his salary depends on not understanding it. hunter biden, joe's son traveled with him on air force two to beijing when he was vice president. 10 days later hunter biden gets

one billion dollars in the bank of china his investment fund. they make investments on chinese military contractors. biden's son investment company is invested in one of the surveillance technology used to oppress the wee guesser in western china. talk about collusion? he doesn't know who the prime minister of the united kingdom is, says china is not a competitor. i'm afraid old joe is past his due date. he ain't sleepy joe. he is rip van winkle joe. stuart: interesting stuff. that is interesting. charles schumer, senator schumer he came right out and saids, hang in tough there. >> that's right. stuart: the direct opposite of what another democrat joe biden is saying. i mean i can't explain that. >> i got to give chuck a lot of credit. i stood on a stage with him in 2005 calling for china to be labeled a currency manipulator. he has no illusions about the

threat that china poses. stuart: curtis ellis, good stuff. thanks for joining us. always appreciate it. it is that time on what day is it tuesday morning. >> tuesday morning. stuart: this is when we go to brian kilmeade. we're going to join him for a simulcast. he is on the radio. i'm on tv. and now we're going to get together. there he is, simulcast. take it away. i want to talk to you about joe biden. you know what's coming and i will tell our viewers. joe biden says, quote, margaret thatcher is worried about trump. problem is, margaret thatcher, wonderful lady, passed away several years ago. it's a gaffe by any other name, brian, go. >> churchhill was in support of trump so it balanced off margaret thatcher in the big picture. a huge gaffe. i don't know why people are glazing over it. can you imagine if donald trump is in a meeting i just got the phone with ronald reagan and he

is really angry at him. they are examining the president's mental health. they don't like when he gets good medical exams. for joe biden says you need your head examined if you say china is not a threat, come on, man, we don't get we're not with the program. he says that. he comes out and basically every other day he is calling the president a racist, from charlottesville, saying president wants to bring jim crow back. this guy is coming out of the gate saying pretty wield things. is that the hope of stability for the democratic party. stuart: let me raise a delicate issue. joe biden is 76, he is saying this kind of thing. in other two years he will be 78. if he won the election, he would be a 78-year-old guy in the white house. i mean, when you make a goof like this about margaret thatcher, doesn't that raise the question of your suitability for office? >> absolutely. i will to back to the 1960s.

people were sew concerned about people finding out about john f. kennedy's back injury, they covered it up. wouldn't talk about. if dr, before television was big and press was compliant. wouldn't talk about the wheelchair. it could cost him the election. when it its 78 years old, people wonder, this is an audition, stuart. this is year-and-a-half audition. how did you do? donald trump won the audition. barack obama won the audition. george w. bush outran john mccain and then beat an incumbent vice president. he won the audition. so far i think, that is laughable that people think joe biden has a strong rollout. i think it has been terrible. stuart: if he goes, if he is not the presidential candidate, you're left with the far left and socialists which is not a great pick for the democrats. that would be my point of view. last word to you. >> mayor pete when he said donald trump wants to go back when america was never as great as advertised, is that the image that brought you to this country?

i'm being totally candid. stuart: no. >> we know we're not perfect. nobody has to tell americans we're not perfect. but the thing about americans we're trying, constantly improving. we're a beacon of freedom. this country tries to get better every day. for him to reach back use that term, get applause, scares me. in the general that will fall flat on its face. stuart: the worst electoral strategy i ever heard in my life. brian kilmeade, out of time, but as always, we'll see you again soon. that is a fact. >> absolutely. stuart: thanks, brian. we have stars of "duck dynasty". jace, al, phil, they come into the studio shortly. they are talking about faith and why they're not afraid to talk about. that is interesting. tiger woods gets the presidential medal of freedom by mr. trump at it white house. proving redemption is possible. we'll see what golfer greg norman thinks about that. he is on the show too.

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stuart: low of the day. we're at minus down 335 points. that is 1.25%. we're barely above the 26,000 level. that we're down day because of china trade worries. got it. >> >> if you're a frequent viewer of this program, we're one of very few, virtually the only network which covered president trump's speech at national prayer service. watch this again. roll it. >> every citizen has the absolute right to live according to the teachings of their faith and the convictions of their heart. this is the bedrock of american life. together we're build agriculture that cherishes the dignity and

worth of human life. prayer works miracles. and prayer saves lives. we once again place our hopes in the hands of our creator. >> you were the first person who began my healing. you healed people in their worst of times. and i'm so grateful for that. stuart: all right. that was just a couple days ago. you saw it right here. we're joined now by three people who are definitely not afraid of speaking out about their faith. "duck dynasty" stars, let me get this right, jace,. >> right. stuart: al, phil. we're off to a good start, gentlemen. you started a new podcast. that is what you're hear for. you have a podcast. you're not afraid, not ashamed to broadcast your faith. phil, tell us. >> the reason why is we've spoken to president trump about matters of faith. i would say that he is is a work in progress. you have to remember, stuart,

all have sinned, fallen short of the glory of god. all men, stuart varney, me, these two boys, everybody. we're presenting a message jesus died. showed up 2018 years ago. our calendar documents it. he died for the sins of the world, guaranteed three days later there is resurrection of the dead. that is is the message we proclaim, whether it is kings, monarchs, presidents. talk show hosts. stuart: talk show hosts. am i talk show? i guess i am. i will take it. jace, you just don't hear that proclamation of faith, that christian faith, you don't hear it. television these days, especially television news is secular. you want to change that? >> that is how we got to know the trumps. i was at the hotel. they didn't know who i was. i was escorted out for security reasons. stuart: because of the beard? >> they thought i was a homeless guy at the hotel. i asked where the bathroom is,

right this way. once that happened, they saw my response. i was thankful for that. i thought they were trying to keep their corporation safe. we got to know them. they reached out to me. then we started having these spiritual discussions because that is what we're all about. stuart: you had spiritual discussions with the president of the united states? >> i had with his son. and my dad with president trump. yeah. many. look, here's the deal. they're open. and that says a lot. you know, when you're close-minded and you, you don't want to even entertain the thought of that, you can't do anything. they were open. i think you see that. >> varney look what he has done for christianity and religious freedom. stuart: that prayer service -- >> done more than any president, done more than any president in my lifetime. stuart: al, have you seen the president or members of his family move spiritually towards a statement of faith? >> no doubt about it. stuart: like we saw from the president. >> no doubt about it. i believe the president is part

of that journey. i believe god is part of that journey. you see what he has been done. 25 years i've been a pastor. i've been looking for people said they would do something spiritually for our nation didn't do it. politician after politician. this is the first man, donald trump. he took money away from planned parenthood. i have been hearing something for years he finally did something about it. stuart: what about the argument, church and united states are separate. that is way you ought to be? >> what do you do it, when you make it a gun-free zone, it makes a target for guns. you take god out, you take the love principles that our kids need to know, love, kind, patient, not easily angered, keeps no record of wrongs, these are people you want to instill in our young people. that is the problem taking out religion, you took out godly principles that make our country great. stuart: phil, you got a large family.

i think you have got four sons. >> pretty good bunch of them. stuart: grandchildren. >> grandchildren. great grand children. we mare marry the women, the reason i have so many, i'm in my early 70s. he is going towards his '60s. whoa, you both get old together. the great news, if you get them before 20, don't ever wait that long. now they put you in jail of course. back in the day, marry them young, varney. have kids early. and you're proceed. everybody gets old together. you spend a lifetime together. stuart: is your entire family christian, overtly are. >> all four sons are still married to the same wives. we have children. now we have legacy of faith. our children are christians as well. that is what the podcast is is about. it is about generational passing on. we call it unashamed. got a dad and two sons doing a podcast. stuart: ha that is what it is called, faith, unashamed to

speak about it, go public with it. not secular. >> think about it. love god, love each other, is the message of the bible. for the life of me i don't see the downside to loving god, and loving each other based on what i'm seeing. stuart: where is the downside? that is a very good question. phil, al, jace, thanks for joining us. good luck with the podcast. >> thank you, stuart. stuart: i will be listening. good stuff. we have to come out of that by going towards money, mammon, down 340 points on the dow industrials. that is a low of the day. it's a sell off, sports fans. more after this. ♪ i'm working to keep the fire going

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stuart: i keep saying it. low of the day. that is because we keep sinking. now we're down 370 points. that is nearly 1 1/2%. the dow is barely above 26,000. right there 26,063. the trade deal, that is the problem for the market this morning. got it. tiger woods awarded the presidential medal of freedom yesterday at the white house. you have got to watch this. roll tape.

>> tiger woods is a global symbol of american excellence, devotion and drive. at just six months old tiger watched from his highchair as his dad, very special guy also, earl, i got to know him, a veteran of the vietnam war and army special forces, he was tough, tiger, wasn't he, but good. >> not as tough as her. >> she might be tougher. stuart: my conclusion, redemption in america is possible. jason whitlock is with us. "speak for yourself" guy on fox sports 1. do you agree re dem shun is possible. i was really pleased to see tiger come back like that. >> redemption is possible and compelling. i think tiger woods in this last iteration of tiger woods as a great golfer will be more compelling than even the first iteration of tiger woods which really captivated sports fans, took off to a new level. if tiger woods somehow manages to catch jack nicklaus with 18

major championships it will be one of the greatest stories in sports. stuart: it was a comeback, wasn't it? the man was humiliated in public. personal trouble. then he was injured badly with his back. went through surgeries. came back after i think a special kind of surgery, then wins masters. that is such a low going to such a high. then to be at the white house, that is redemption. and i think most were cheering this on. what say you? >> oh, i think everybody was cheering it on. because i think. all of us don't fail in such a public fashion as tiger woods did, but we all fail and we all fall short, we all have our shortcomings. we all have things we have to recover from. to see tiger woods come all the way back is inspiring to all of us because again, everybody watching your show, varney, has had some obstacle they had to overcome, some failure they had to overcome. stuart: yes. >> to see tiger woods do this

inspires us all. stuart: that is so true, jason. nobody's life is like this. nobody. nobody goes even keel all the way through. everybody is has ups and downs. it is how you recover from the downs that makes your character. last word to you. you have only got 15 seconds. >> okay. oh, well, varney, my first appearance on this show, you were actually not that good. i was great and carried you. you recovered and become a very good host. so i'm sure you can relate to tiger woods. stuart: that was really cool. on the spur of the moment. the man comes up with that. is sir you're a bloody genius. we'll see you again soon. that is a promise. >> thank you, stuart. stuart: i think the political tide is turning. that is my opinion. i think it is turning in the president's favor. i will lay it out on my take coming up top of the next hour. 2020 democrats moving even further to the left despite a new poll showing socialism

incompatable for american values. can tern america, pete hegseth himself, joins us. turns out a lex sass has been eavesdropping you the whole time. you can listen back to what was recorded. the power hour is next. with drivewise. it lets you know when you go too fast... ...and brake too hard. with feedback to help you drive safer. giving you the power to actually lower your cost. unfortunately, it can't do anything about that. now that you know the truth... are you in good hands?

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u.s. money reserve. with nearly two decades in business, over a billion dollars in transactions, and more than a half a million clients worldwide, u.s. money reserve is one of the most dependable gold distributors in america. stuart: i think the tide is turning. there is a political shift. things are going the president's way. it started when robert mueller's report found no collusion. mr. trump is not a russian agent. that was a turning point. granted, the democrats are going to investigate everything forever, but they descended into frantic legalistic maneuvering which has limited appeal to all but the most virulent trump haters. then came the news that we do indeed have the best performing economy of any industrial democracy, better than 3% growth. then last week, that stellar jobs report. we're booming, and the democrats have to play defense.

how do you run against prosperity? there's also a shift on immigration. that's a very big issue. look at today's editorial in the "new york times." congress, give trump his border money. whoa. something needs to be done soon, says the "times." now, the "times" is the democrats' bible. they dance to its tune. the left is now acknowledging that yes, there is a crisis. i think they realize that open borders is not an election winner. all of this translates to a new high for the president's approval rating, 46%, according to gallup, better than president obama at the same stage of his presidency. you don't have to go very far back to see how things have changed. just a few months ago, the headlines were all about mueller's going to get him, trump's putting children in cages. the stock market is plunging. we are headed for recession. now it's no collusion, the economy is booming, the stock market hits new highs, there is a crisis on the border, do something. how about that. but we're still mired in what we

have come to call toxic politics. the tone hasn't changed and will not change. the left is still contemptuoous of all things trump but events have shifted the dynamic. the trend is moving in mr. trump's direction. things are going his way. that's just my opinion. the third hour of "varney & company" is about to begin. stuart: now we're down 388 points, barely above the 26,000 level. this is all about the trade problems with china. it looks at this point as though the president will impose big new tariffs on china this friday and the possibility of a deal of any kind is now in doubt. that's what the market's reacting to this morning. more china trade. down 386 as we speak.

later this hour, ryan payne will join us, our resident bull on the market. he's going to tell us the four most expensive words in the english language. i don't know what they are, but he will tell us, okay? that's coming up for you on this program today. first, though, i want some reaction to my little rant at the top of the hour there. pete hegseth is with us. he's good for a rant. "fox & friends" co-host. how are you doing? >> doing well. stuart: am i going overboard here? i think there is a turning point. >> it was your typical eloquence. you make eloquence typical. very well done. i use this analogy. it's like the grandparents who go back to visit their grandkids and the kids are running the household, and they say why is this 13-year-old telling me what to do, that he won't pick up or do that, because the grandparents forgot to teach the parents and the parents never infused values in the kids and the grandparents were still sort of old school democrats, patriots, they want to tell the kid hey, get in line, maybe love

america, maybe socialism is not so good and the kids are like huh-uh, we run the joint now. i run the joint now. you're just an old white man, you're yesterday, i'm today. we speak in the language of multi culturalism of diversity, of socialism, of identity politics and you're yesterday and i'm today. so some folks like nancy pelosi can try to rein in those impulses, joe biden will try to rein in those impulses. even barack obama is trying to rein in those impulses and young kids are pushing the democrat party left and left and left and you dare to cross them, they call you names like racist or sexist or not intersection yal you are not being generationally correct and that dooms the left to leftist policies. what trump has done is exposed it. he's teased out that underbelly quicker than they wanted to admit it. now they are just outright socialists and he's in the catbird seat ready to win re-election in 2020, especially with this economy. stuart: while we are talking i want to put up the dow industrials on the left-hand side of the screen or certainly the bottom right there. that's a new low of the day.

now we are down 407 points. again, that is the trade problem that's affecting wall street as we speak. now, how many times recently have you heard that millenials like socialism, that they are all in favor of socialism? hold on a second. i'm going to show you a couple of polls both from monmouth university which say the exact opposite, of the people they polled, only 10% saw socialism as a favorable thing. only 10%. that's it. 57% said that socialism is incompatible with american values. in my opinion, the tide really is turning. >> i think if you've got a job and job opportunities and your wages have gone up, you recognize that we still are a capitalist country and that's what succeeds. i will say there. there are still 47% of people that think socialism is compatible with american values which is way too high of a number. you know why the kids are running the household, because our educational institutions have been completely poisoned. they believe in

anti-americanism, they believe america is the problem, blame america first. it's not just the colleges, not just there, it's high schools, public high schools and junior hig high. ask your local public school do they say the pledge of allegiance anymore every day? what's more important? patriots day, presidents day or earth day? the emphasis is on the things that don't reinforce our shared american values and then we wonder why socialism is seductive. stuart: you're good, hegseth. i don't care what they say. >> bitcoin's up, by the way. i bought more today. i bought some last month. i'm telling you. stuart: great on politics but you have no clue about money. >> that's exactly right. i will stay in my lane. stuart: thank you, pete. now this. china's vice premier liu he, he will indeed be traveling to the u.s. to continue those trade talks. he will be flying in here on thursday of this week.

he's staying a couple of days, that's all, one or two days, shorter than expected. this as president trump announced that as of friday, 12:01 a.m., 25% tariffs will be slapped on $200 billion worth of chinese goods. it goes into effect 12:01 friday morning. we will keep an eye on it for you. it's brinkmanship by any other name. the clash is coming and the markets don't like it. down nearly 400. ashley: i think it's because, okay, it's encouraging the delegation is coming. they actually got on the plane, including the vice premier, but i think the gulf, the cracks are there getting a little wider so the chance of something happening before friday, probably pretty slim, to say the least. also in today's selloff, check out the nasdaq. it's getting killed. down nearly 2%. 150 points. deirdre: so much for that all-time high. ashley: exactly right. it's really starting to take a bite. people jumping in selling the profits they have made. stuart: you know, deirdre bolton joins us, by the way, look, most

people on the show this morning have thrown cold water on the idea that we are going to get a trade deal any time soon. most of the people we have talked to suggest that those tariffs probably will be applied and a lot of people are throwing cold water on the whole idea of any kind of deal. where are you coming from? >> i'm coming from the fact that i think it is in both parties' best interest to come up with something but the problem as you well know, the sticking point is how american companies are treated when they are in china. they were 90% of the way there according to our sources to have the chinese law tweaked so that they are not allowed to steal american intellectual property but now it seems we are back to ground zero and people say that's why president trump came out of the gate swinging on sunday, because he doesn't want to renegotiate something that was 90% of the way done. that said, listen, two of the world's largest economies. i think the fact the chinese premier is still getting on a plane and coming here does show some sincerity. it does show that the conversation will continue. hopefully at least some sort of

framework. stuart: fascinating brinkmanship, isn't it, right up to the final moment. really intense stuff. big deal. lots at stake here. deirdre, thank you. president trump honoring masters champion tiger woods at the white house. he gave him the presidential medal of freedom. we are calling this redemption. very soon, we will be joined by greg norman. what does he think about all of this? he's also the new brand ambassador for delta airlines. greg norman, this hour. coming up. also, on our radar, president trump meeting with senators this afternoon. it's all about immigration. kellyanne conway confirmed earlier that the president has submitted an immigration plan. congress is dragging its feet. we are talking to senator kraemer about that. he's next.

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stuart: later today, a bipartisan group -- no, a group of republican senators, including chuck grassley and mike lee, i think it's just republicans, they growing to meet with president trump about the sweeping immigration plan that the president has. the president has tweeted about it moments ago. here's that tweet. democrats in congress must vote to close the terrible loopholes at the southern border. if not, harsh measures will have to be taken. let's bring in senator kevin cramer, north dakota republican. you think the democrats are going to buy this one, sir? >> i don't know, stuart, but it seems to me that the pressure around them is getting heavier and heavier to do something. clearly it's no longer a manufactured crisis. they spent a lot of their own political capital pushing that narrative. clearly it's a real crisis. when the "new york times" admits it you know it must be something to it. so i think they are probably feeling political pressure and

probably even looking for a way out, if you will, perhaps a comprehensive immigration reform package like the president's going to present to us today that jared kushner has been working on. perhaps the timing is just right for a bipartisan deal. i don't know. i'm generally optimistic. stuart: you are from north dakota. that's a farm state. i know it's an oil and gas state but it's a farm state as well. your constituents have got to be feeling a little uneasy about the state of u.s.-china trade negotiations because they look like they are at an impasse. your people have to be uneasy about this. >> there's no question, stuart. they are. they have been very supportive. our farmers have been very supportive of president trump and his strategy. however, we have had multiple years in a row now of a down commodity price cycle, as you know, last year was difficult. there was some aid, as you know, attached as a result of the tariffs. however, this is a new growing season. both their bankers and our farmers are concerned that they may not survive this one.

so yes, i have never had as much angst, you know, from my constituents over tariffs like i had in the last couple days. yes, there's a great deal of anxiety. stuart: senator, would you still have the president's back? would you back him firmly if it looked like there was no deal at all with china? would you stay in his camp? >> well, i'm grateful for what he's doing this week. i think that, you know, we can weather this week. we can weather down market, certainly the stock market will rebound. it's very emotional. but -- and i appreciate the blunt instrument. it's the only thing the chinese seem to understand. they have not negotiated in good faith, clearly. however, i think it is in the best interest of both countries to have a deal. i think china does have more to lose. the president understands that leverage. i appreciate what he's doing but i know he understands this, but growing seasons happen once a year, whether we are ready for them or not and this is a make or break year for our farmers. i hope he uses that blunt instrument carefully. stuart: last time you were on the show, i asked you about oil

and gas production in north dakota. because you were doing very well. i think at that time, this is maybe a month or so ago, you were doing, what, two million barrels of oil a day. can you give me an update on that? >> i think it's more around 1.5 or a little less. it's a record for north dakota. because of the dakota access pipeline which president trump green lighted on his first day in office, we are able to move into the half million barrels a day to market efficiently and effectively. we still remain obviously somewhat landlocked but north dakota is the perfect example of what a true capitalist friendly government can do with a lot of private oil and gas, lot of private minerals under private land, with responsible regulation. north dakota is experiencing a boom because -- largely because the government does less, not more. i wish we could take that model and apply it to the country because i think america would not only be energy dependent, it

would be energy dominant, it will be energy dominant and we can save a lot of money in natural defense by using the tools of energy development on a global stage. stuart: i live in new jersey, high tax state. if it wasn't for the climate in north dakota, i would consider moving. but you know. >> we do have heating. stuart: thank you very much for joining us, sir. >> my pleasure. thank you. stuart: i open up the fox business bureau in bismarck. how about that? i'm up for it. mr. senator, thank you very much indeed. we should have seen this coming. more trouble for owners of amazon's echo. wait for it. they are recording everything and anything. is that right? deirdre: exactly right. the reporter from "the washington post" actually went back, he had a four-year catchment of what alexa has accumulated from his household. spaghetti requests, joking house guests, random snippets of "downton abbey" and a friend

discussing a business deal in his living room and discussing medication. they say it's only activated if you say alexa and ask a question, but "the washington post" actually put a link and said if you are at all concerned about the data the machine has been collecting about you, you can go through and do what the reporter did, essentially get all your metadata from the past however many users you have had it and go through. he said he found at least a dozen examples where he specifically did not use the wake word, which is alexa, and that's when he discovered all of these kind of snippets about his home life. by the way, amazon uses the same line as facebook so i think every time we talk about privacy, this is a good thing to keep in mind, they say they are using the data to improve the product, not to sell anything. both of those companies use that line, but you know, it's a slippery slope. stuart: i just don't want it. any recording of anything i say in my own home. ashley: who would? deirdre: well, it's this trick

trade of convenience. ashley: yes. stuart: good report. thanks very much. next, we will be talking about mortgages. the cities with the highest and lowest payments. we will give you all the numbers in a moment. first, can you take a wild guess which city pays the most? i've got a wild guess. san francisco. let's see if we're right. now i'm thinking...i'd like to retire early. let's talk about this when we meet next week. edward jones came to manage a trillion dollars in assets under care by focusing our mind on whatever's on yours. i'm workin♪ to keep the fire going for another 150 years.

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stuart: we should bring you up to date on the selloff still in progress. this is all about the china trade dispute. look at the nasdaq, down 135 points, 1.6%. we are all about dollars on this program. if you live in california, i've got some bad dollar news for you. we are talking mortgages here. san francisco -- california has a mortgage problem. okay, deirdre. look around the country. who pays the most? deirdre: most expensive, two top cities are in california. san jose by far, by the way, in first place. average mortgage of $4,008 per month. this was based on 20% downpayment, 30-year mortgage

with an average 4.0% interest rate. san francisco, number two, close to $3,000 per month. vineyard haven, massachusetts, close to $3,000 per month. stuart: average payments per month. deirdre: yes. ashley: does that include property taxes? stuart: give me the bottom. deirdre: bottom, coffeeville, kansas which people pay on average $205 per month. then newport, tennessee, $259 a month and union city, tennessee, $283 per month. there you have the highest and the lowest. by the way, 63% of american homeowners have a mortgage. little fact to throw out there. stuart: do those numbers include taxes or not? deirdre: they didn't put the taxes. it's monthly payment, median home price sale including the down payment, supposition of a down payment of 20%. ashley: so taxes on top of that. stuart: $4,000 in some parts of

california. ouch. $200 in kansas. okay. sorry, we are down 400 again. look at that one more time. down exactly 400. 26,038. struggling to stay above 26k. we are going to talk about the four most expensive words in the english language in a moment. do you know what they are? ashley: do they include the word divorce? sorry. stuart: dow is down 407. market watcher ryan payne coming up in just a moment. we are going to talk about tiger woods at the white house. redemption at its finest. greg norman, another golfer, joins us next. ♪

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stuart: the low of the day was a minus 416. okay. we're now minus 378 and every single one of the dow 30, in the red. they're down. it's a sell-off across the board. the ten-year treasury, the yield, that's a key interest rate, going down, now we're at 2.47%. that's historically pretty low. earlier on the program

today, i teased what are the four most expensive words. there you have them right on your screen. this time it's different. they are the most expensive words in the english language, says ryan payne, who is the president of payne capital management and a market watcher. this time it's different. doesn't seem terribly expensive to me. >> well, sir john templeton said that. it had the queen's blessing so that's enough for me. stuart: stop it. >> basically what it says is we get very complacent sometimes when some trend has been going for a long time. inflation has been very low now for a decade because we have had very modest economic growth, right? so we are starting to see a lot of complacency in the conventional wisdom which you always have to be careful about, everyone thinks the same thing, inflation is dead for the future. bloomberg just came out with a cover story saying capitalism killed inflation and you are starting to see benign numbers have come through and if you look right now, we have less

than 2% inflation last month. historical average over the last 105 years is more like 3.25% so we are way below the historical average for inflation. stuart: what you are really talking about is complacency. don't establish conventional wisdom. don't always go with it. be more intuitive. look closely at what you've got. but would you say conventional wisdom at the moment is that the stock market just wants to go up? this time it's different, we just keep on going up? would you say that? >> again, conventional wisdom has been very bearish on the market this year. i have been one of the only bulls you have had on, i assume, that's been saying the market will probably go higher which has been against conventional wisdom for the last couple months. stuart: okay. so you're not complacent. >> i'm never complacent. stuart: you think this drop of near 400 points today, just a blip? no big deal? >> i think realistically, yes, because let's face it, we just hit all-time highs in the market. now we are down like 2% from the

all-time highs which is not extreme and we just had some of the best economic data we have seen in a very long time, especially with the unemployment number that came out friday, which also speaks to wages going up, unemployment's down, which means inflation is something probably that will kick in. stuart: you think so? you take sir john templeton at his word, this time it's different, maybe it's not different. maybe we do get some inflation and that will hurt the market, and it will hurt the bond market, right? >> well, yeah. i don't think it will necessarily hurt the stock market because one thing i like about stocks, they pay dividends and dividends increase over time, which is what you would call an inflation hedge. right? stuart: yeah. you a dividend player? >> i love dividends. in fact, any portfolio that you have, dividends are almost 40%, 50% of your return over the long term so you want to have a cash flow investment if you are invested in stocks. stuart: especially on a day like this. if your growth stocks are really tumbling, microsoft is way down, amazon is way down, et cetera, et cetera, you would like to

have something in reserve, which is still going to pay you 4%, 5%, 6%, right? that's what you're looking for? >> exactly right. so every day you own stocks, you are accruing dividends and interest that pay out every quarter no matter what the market does. that's kind of like keeping your eye on the prize. you talk about microsoft, that's a perfect example of a stock that was flat for a lot of years but you kept getting the dividends, you kept reinvesting and bam, microsoft has been off to the races for the last couple years. stuart: that's true. yeah. i've got blackstone which is paying me 6.5%. i've got some at & t which is paying me i think 4.5%, nearly 5%. how am i looking? >> well, much better than the ten-year treasury, 2.5%. well played. stuart: thank you very much indeed. ryan payne, thank you, sir. >> thank you. stuart: let's move on to tiger woods. he was at the white house yesterday. president trump gave him the presidential medal of freedom. i want to show you, just listen in to part of the conversation. roll tape. >> we are in the presence of a

true legend, an extraordinary athlete who has transformed golf and achieved new levels of dominance. he's also a great person. >> i've battled, i've tried to hang in there and i've tried to come back and play the great game of golf again. amazing masters experience i just had a few weeks ago certainly is probably the highlight of what i've accomplished so far in my life. stuart: i've got to tell you, that was a real comeback and a half and a lot of people were cheering him on right there at the white house. the medal of freedom presented by president trump. greg norman is with us. doesn't need to be introduced. you know who he is. fantastic golfer, and he's with us this morning. i say that america offers redemption, and redemption was offered to tiger woods yesterday, and we all loved it. what say you? >> oh, absolutely, stuart, 100% i agree with you. as a matter of fact, i personally dropped tiger a note

right after the masters, after i got back from a trip, because i basically said your journey back has been truly impressive. when you're an athlete and have gone through the ups and downs he has gone through, to enjoy those physically is one thing but to come back to the top of the pile of being one of the best players in the world again, like he was in the past, to do that is very, very difficult, especially when there were moments in the recent past where he thought he would never play golf again. so to do that mentally, you have to congratulate him. look, i have been a bit of a skeptic in the past, i will be honest with you about that, but tell you what, you recognize and give credit where credit's due. tell you what, it was really, really impressive and golf is better for it. stuart: most americans were cheering him on, too. i think america approved of what the president gave to him yesterday. right? >> oh, absolutely for sure. just look beyond the shores of america. i think the rest of the world, i mean, i have been in the middle east and people are talking about it.

it's resonated globally. it's resonated globally for the good of the game and what the president did yesterday was justifiably deserved. stuart: greg norman, what's this about your being named an ambassador for delta private jets? that's different from delta airlines, isn't it? >> no, it's delta airlines, it sits underneath the parent company delta airlines. it's a private jet division of it. quite honestly, i have had a private plane since i think the late '80s, nearly 30 years, and i sold my plane and became associated with delta private jets. i'm trying to, you know, curtail some of my travel and the simplest way of doing it was be an ambassador for delta airlines and delta private jets. they really do allow me to do whatever i want to do from a large jet to a small jet instead of having one large jet, if i want to rip off somewhere, i can get a midsized or smaller jet and do whatever i want to do. it really does suit my quality

of travel on a global basis. i'm very excited about it. stuart: so greg norman, who no longer plays golf very much at all, will be swanking around the world on a delta private jet, enjoying the high life until he retires entirely from the business world. you got it made, greg. >> you're right, i do have it made. stuart: can i come, too? >> ku come you can come on some trips. from your business show standpoint, it would be an eye opener. stuart: we all think of you as a golfer, but really, you are an international business guy. you run a rather large corporation these days, don't you? you are big in vietnam these days? >> oh, very much so. i'm actually ambassador for tourism and culture and sport in vietnam. the game of golf is growing tremendously in that country and for a communist country, they recognize free market capitalism

is the way so they really unlocked the secret through hospitality and using golf as the trojan horse to bring more and more tourism. when you look at the ratio in vietnam, the average tourist that goes in there that doesn't play golf spends about $1. the tourist who goes there and plays golf spends $6. the vietnamese government has been very very successful and very progressive in identifying this and very very aggressive on building hospitality and golf courses. fortunately, i'm at the forefront of that. i'm an adviser to them. i want to do it in sustainable fashion but the economic boon for that country and that region will be incredible in the next 7 to 12 years. stuart: you got it made, i tell you. next time you come, i want to see that hammerhead shark which was gobbled up by another shark. are you the shark, after all. come back and show us the pics next time. greg norman, everyone. good man and ambassador, to boot. see you again soon. thank you, sir. i've got news on the xfl.

that's the football league that's billed as being rougher and tougher than the nfl. they are coming back to tv. with disney and fox sports, splitting the coverage. the new season is expected to begin february. there is fox and disney stock both down a little on a big down day. alphabet, parent of google. if you've got chrome, they are going to make it more difficult for companies to track your information. the stock's down 15 bucks. not because of that. it's just a down day overall. look at this. we are down 401 points. not quite the low of the day. at one stage we were down 416. now we are down 399. barely above 26,000. moving away from the market, al sharpton continues to meet with all the democrat candidates from beto to buttigieg. why? why do democrats seek his approval? we have an answer for you. presidential candidate kamala harris taking direct aim at the trump tax law. she wants to repeal it on day one if she's president. she's not the only one, either.

joe biden is now jumping on that band wagon. you are going to hear what he had to say about it next. if the president is running on a good economy, will taking on the tax cuts be a good strategy for the democrats? i think not but we will certainly discuss it.

morning. what are you doing? isn't it obvious? nah. we're delivering live market coverage and offering expert analysis completely free. we're helping you make sense of the markets without cable or a subscription from anywhere you are. i get that. but what are you doing here? nice pajamas. really? i say pajamas. pajamas, pajamas, whichever. good. yahoo finance live. stream free anywhere. welcome to the show. let's make finance make sense.

stuart: still very much in the minus column. the trade dispute with china is the key to it all. we're down 400 for the dow, 44 for the s&p, 133 for the nasdaq. that's better than 1.5% down. across the board. it would be remiss if i didn't bring up the 2020 democrats and their position on the booming trump economy. i'm going to start with senator kamala harris.

here's what she said about the president's tax cuts. roll tape. >> i am proposing that we change the tax code as follows. and this will benefit the members of almost everybody who is represented here. i'll tell you how we're going to pay for it. on day one we're going the repeal that tax bill that benefited the top 1% and the biggest corporations of our country. stuart: hold on. not done. joe biden also said the same thing about the trump tax money. here's what joe biden said and how he said it. roll it. >> folks, you know, people say joe, how do you do all this. well, guess what? first thing i do is repeal this trump tax cut. stuart: i know he said that. it didn't get any coverage at all. if i had known that, he said it on saturday, i would have blasted that to the high heavens on monday morning. i didn't know. let me bring in matt schlapp, american conservative -- i didn't know, matt. i didn't know. that's a huge thing.

the leading democrat to say i get rid of the whole deal that produced this growing economy, that is a sensation. go. >> yeah. what it's all about in the democratic party, it's about ideology over individuals. they care about their increasingly radicalized view of economics and culture and our society, basically socialism, over the fact that if you get rid of this tax cut, the trump tax cut, as you know, that means wages don't go up to the levels they have been going up. that means personal net worth goes down. that means personal savings goes down. that means our economic growth goes down. when our economic growth goes down, people don't think of it as like data and numbers. it's people's lives. stuart: unfortunately, it's so easy to dismiss and the way the democrats do it is just dismiss the tax cut package and simply say it all went to the 1%, it all went to big business. that encourages jealousy and you know, i guess you could say they

are being to some degree, technically accurate, but it's highly misleading. i'm surprised they would go out so strongly to remove this plank in our booming economy. just surprises me. >> because the number one goal of the tax cut bill was to reduce the corporate income tax level in america, because as you know, we were leading the globe and that caused a lot of companies to move for being flagged here in america to going overseas which hurt american workers. donald trump has actually reversed that trend with this tax cut. once again, it's about ideology and socialism for these democrats. even when it helps people, they don't want to do anything that could help a company because they are anti-corporate which is insane if you want to grow your economy. stuart: okay. i want to show you and our audience what senator mitch mcconnell said earlier this morning on the senate floor about the mueller report. roll that tape, please. >> now we can finally end this groundhog day spectacle, stop

endlessly relitigating a two and a half-year-old election result and move forward for the american people. stuart: matt, he's saying stop the endless round of investigations, stop the retrial of the president, but i don't think the democrats are going to take that. i think they are going to run with investigate, investigate. what do you say? >> yeah. i think that's right, stuart. this is their playbook. this is what democrats do. they try to hobble republican presidents. in the case of donald trump, think about this. within 100 days of the mueller investigation starting, they realized, bob mueller and his team realized there was no collusion but they allowed the country to be deceived by the media coverage on most networks that there was some wrongdoing by team trump so for two years, we wasted time on this trump agenda and they're never going to stop. i think the american people are fair-minded. they have to look at this and somehow punish the democrats for making absolutely everything

about their partisan lives, about collusion and russia and all that other stuff. stuart: i think there is one area of unity between democrats and republicans and that is president trump's hard line against china in these trade negotiations. that really is unity, isn't it? >> yeah, for sure. it's tricky to take on china, as you know, because it does give markets the jitters and a lot of american companies are interwoven in our policies toward china but in the end we have to look out for our national security number one, and that also means looking out for the american worker. i think what the president is doing is trying to find that way forward to make china realize they've got to change their ways or they won't have an economic relationship with us. stuart: got it. matt schlapp, as always, see you again soon. thank you, sir. we have to concentrate on money at the moment because we have a big selloff on wall street. look at that chart. the nasdaq for a start, that's down 135 points. 1.6%. the dow is down 1.5%. this is an across the board, down 1.5%.

now, i'm saying this is almost entirely because of the impasse on china trade. am i missing something? ashley: no, i don't think so. it's kind of the earnings season is winding down, better than expected. economic data has been good. we have the jobs number today, 7.4 million job openings, all of that being ignored by the market that seems to be pretty convinced that okay, we have a delegation from china coming here to resume talks tomorrow, but the optimism for some sort of deal by the deadline on which the tariffs will go up does seem pretty bleak at this point. i think the markets are focusing on that. deirdre: has to be very intense conversation. when you point out the nasdaq, last week it just hit an all-time record high so i do think all the pressure is relate to ed to u.s. and china and the trade talks. we were coming from a very high place from which it is easy to fall. stuart: it's not much of a fall thus far. it ain't december. okay. ashley: right. stuart: next, we will talk al sharpton and the democrats.

why is he the man the democrats run to for approval? we've got an interesting guest on that. back in a moment. i'm working to make each day a little sweeter. ♪ to give every idea the perfect soundtrack. ♪ to fill your world with fun. ♪ to share my culture with my community. ♪ to make each journey more elegant. ♪ i'm working for all the adventure two wheels can bring. ♪ at adp we're designing a better way to work, so you can achieve what you're working for.

stuart: moments ago, we did drop below the 26,000 level, right on the cusp of doing it again. the dow is off 431 points. that's the best part of 1.5%. it's like that all across the board. big down day. china trade's the problem. our next guest has a piece he wrote in "the national review." the title is "al sharpton, maker of presidents." zachary wood wrote it. he's the author of the book "uncentered" and joins us now. why are so many democrat presidential candidates paying homage to al sharpton? >> here's the thing. he's positioned himself as someone who wants to be the king maker. he wants horsepower but you cannot put a terrible driver behind the wheel. stuart: you think he's a terrible driver? >> he's a terrible driver. if you look at it, how many red lights can you run before your car gets wrecked? in 1987 he came to fame based on false allegations that he made. he never apologized for that. then a year later, he was seen fighting on tv with roy ennis

and he lost. stuart: wait a second. if you are a candidate for the presidency, why are you paying homage to a man with such a really weak record? >> he does have a following. in the african-american community, it is often the case that reverends, that people who are prominent figures in the church, often do have large followings. so that's the reason why people put their faith in him. stuart: does he bring votes to the candidate who pays homage to him? >> you know, the thing is, i don't think he can deliver. stuart: is it just image? >> it's image and for him, it's about staying relevant. it's about receiving attention. it's about positioning him in such a way that he looks as though he has the power to have influence. stuart: why -- >> not genuine. stuart: i don't understand why the african-american community should put so much store in a man with not a very good record. >> exactly. terrible record. stuart: you say it but i don't get why. look at that, that's mayor pete,

sitting down chit-chatting away. what's in it for mayor pete? >> the thing is he's known as a civil rights icon. stuart: he is? >> so he's positioned himself in such a way over the last two decades as someone who always speaks for the interests of the african-american community. and because of that, people see him as being someone who is genuinely on their side, genuinely fighting for them. stuart: we just had a picture of him with mayor pete, with joe biden, before that, it was beto o'rourke. do these people get anything out of their lunch with al? >> they don't. he wants you to think they do. stuart: we are on the show talking about it. >> they don't. that's the thing people have to realize. you have heard the term race hustler. that's what al sharpton is doing. stuart: you said it, not me. zachary wood, thank you. more "varney" after this as the dow sits right at 26,000. down 400.

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stuart: we talk a lot about the very sharp selloff on the nasdaq which is home to all the big tech companies. look at this. there are the big tech companies. apple down four bucks. amazon down 31. facebook down three. alphabet down 17. microsoft is down 277. we're talking percentage loss you know you have a big selloff. for the dow industrials, we're hovering at the 26,000 level, right at it, 26,013 to be precise. ashley: we were down 471 at the opening bell yesterday. we managed to claw almost all the way back. i'm not sure today, unless we get a tweet or headline before the closing bell today suddenly that tells us things are going better. it will be a tough day today. >> u.s.-china focus. that's it. stuart: i think so.

one statement, one headline, one tweet, which looked more favorably on the discussions might change. whether we get that i haven't the faintest idea. as of now we're down 400 points and falling. neil, it is yours. neil: stuart, thank you very, very much. to your point we're dropping to the lows of the day. this surprised a lot of feelings especially when they heard china's vice premier is coming with 100 chinese officials to keep the talks going. something i noticed here, the revelation this is far wider than we earlier thought. a lot of us look at the dow, focus on these multinationals exposed to this but again, as i like to stress. this is something we all paid for. governments don't pay tariffs. you and i do. it is very interesting when you see how broad-based this is. i want you to look at something before i get to my buddy edward lawrence here, the tarif