tv Varney Company FOX Business September 25, 2019 9:00am-12:00pm EDT
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conversation. investors are stepping back from this and locking at the economy, looking at stocks and they are saying this is noise. maria: they know it goes nowhere in the senate. we will wait for the unredacted transcript. have a great day, everybody, varney & company begins right now, stuart, take it away. stuart: good morning, maria, good morning, everyone, speaker pelosi has started indeed a formal investigation, democrats are consumed with trump hatred and launched just what the far-left wanted, they have never gotten over anger of losing 2016 election, in my opinion it may lose them the 2020 elections. a couple of questions, can anything get done with congress overwhelmed with impeachment investigations, usmca, drug price legislation, china trade deal, any of that gets done? where does all of leave moderate
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democrats? will joe biden walk away from all of this unscathed and son hunter at the center of it and polls show him slipping behind elizabeth warren and wait till we see the transcript of that contentious call to ukraine, due to released today, is that a smoking gun, we will address all of the questions on the program today and so will the market which is frankly shr, gging the whole thing wrong. stocks took down when the algorithm took the headline, nasdaq up a fraction, s&p up a fraction, the market is, indeed, apparently at this point shrugging impeachment move. look at this, nike, the stock of the day, the big deal is that nike sales in china went up 22%, who would have thought and the stock is up 5%. stay there, please because this is obviously a big day in politics and money and just wait
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till you see what's happening to juul and the vaping industry, it is in deep trouble, varney & company about to begin. ♪ ♪ stuart: big corporate story this morning and it is juul, announced that ceo kevin byrd stepping down, they are suspending all product advertising in this country, massachusetts, has banned all vaping products and 30% in stake juul is ending talks with philip morris. come in judge andrew napolitano. is the law going to kill the vaping industry? >> politics is going to kill the vaping industry, in massachusetts the governor on his own banned the sale, not the possession or use but the sale
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of vaping products, these are products that are authorized and licensed by the fda under the constitution, that trumps, of course, trumps what the states want to do. so the governor of a state, the mayor of a city cannot interfere with the sale of a product that the fda has authorized. you mentioned that juul will curtail advertising, that's approved by the fda, as long as they approve from the approval, consistent with the wording and placement of the wording that the fda approved, there can be no liability for the consequences of that advertising, so there's a lot going on below the surface, we know of the criminal investigation, we don't know what it's about. this is the fbi in california which is where juul is headquartered, yesterday speculated that it might be the material misrepresentation of facts to the fda in order to get their approval, i don't know that, it's just speculation, i'm
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trying to think of what federal issue is there, there could also be anticompetitive behavior and add to that the resignation of ceo and dropping of advertising and reduction of over the top hiring practices something is going on and therefore seeing it. stuart: take your judge's hat or judge's robes off for a moment. forget politics for just one second, i think this is a total shame, how many million people have gotten off smoking tobacco which is very dangerous obviously and gotten off it by going to a vaping product? are they going to be denied that exit ramp from tobacco smoking? >> since the records have been kept which is short period of time there's been 7 deaths linked to vaping, 200,000 deaths linked to smoking tobacco in every year, most medical people including our own dr. mark
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siegel is improvement, i'm in full accord to weaning people off of the harmful effects and other people will say but that weans children. stuart: i've got an answer for the whole thing, you only get a vaping product with the a doctor's prescription. >> what would be the basis for the prescription? >> addicted to nicotine. addiction to smoking tobacco will get you off with a vaping product but you have to get prescription first. >> yeah. what i don't like are the rules, do i like the free market being used to wean people off of a harmful product without government intervention and that's what we have until this morning when the vaping industry seems to be, have a target on its back. stuart: it sure does. >> why don't they put a target on tobacco's back, $55 million
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of revenue each year. [laughter] stuart: a lot going on with president trump, let me go through it, we will see him later this hour as he heads to more meetings in new york, at noon japanese prime minister shinzo abe expected to announce new trade deal, this afternoon he meets ukraine's leader, news conference, remember that was the call to ukraine leader, impeachment move is all about. coming up. look at futures, i have to say again, the market is shruggin gnp launching the impeachment inqiry to president trump, we better bring in fox news columnist liz peek, you're smiling. >> it is serious stuff, they're not taking it seriously, that's what's so offensive about it.
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what did nancy pelosi do yesterday, so nothing changed, it's all show, all smoking mirrors, all based on innuendo. very depressing for the country, very bad for the country and bad for democrats, i think -- look how fired up i am and i'm the calmest person in the world. i think it's going to make a lot of people angry. stuart: anyway, there's going to be all the investigations. >> yeah. stuart: they will drag this thing a long, long time, if you do that how do you get usmca through, china trade deal through if we negotiate one, drug prices, infrastructure plan, that's not good for investors and not good for the economy. >> without a doubt the good of the country, does anybody care
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of the good of the country, democrats don't want to give president trump a win going into 2020, they are hoping this affects the economy, red flag with consumer sentiment kicking down, why, because the headlines are full recession and corruption, all these things, the country is worried that we are not getting those things done, we need the usmca, why isn't that going to happen? it benefits farmers, they're really hoping, democrats are really hoping that the china trade war is going to cost trump a lot of the support in the crucial midwest but then they go and do this, what are they thinking? stuart: it's awful to see political interest placed above national interest. >> this is just political show, nancy pelosi caved to the far left in her party, the squad, and i mean what could be worse for the country than letting a group of progressives dictate
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any kind of policy for the united states, it's horrifying. stuart: i'm going to interrupt the fired up liz peek. secretary of state pompeo talking new sanctions china or iran. ashley: sanctions on chinese entities for knowingly lifting oil from iran and secretary pompeo says the u.s. will begin, quote, educating country with the risk of doing business with iran revolutionary guards, bottom line is you take oil from iran, you will get sanctions from the united states. >> the result is oil is down more than a buck right now, you have $55 a barrel and i noticed that futures ticked down a couple of points, no serious impact, maybe change direction on that with china. we better talk about wework, why not? the ceo adam newman, she's
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stepping down, he's gone, he's going i should say. susan; i've got to put it to you, there will be no ipo this year. >> highly unlikely the ipo this year, the founder of wework stepping down on executive chairman and the former vice chairman stepping in as coceo although talking about bringing outside manager, someone to oversee the company, they do need the money, they have intense cash burn of losses of 1.6 billion last year, they need a few million dollars to send the tide up until next year, cut staff maybe up to half of the 12 to 15,000 that they have and this might be peak unicorn, unmitigated founders of the start-up with softbank being the one that turned ties, they said we don't have confidence in adam newman and that's why she had to step down, how much patience do they have with the cavalier founders, start-ups headed by
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someone like adam newman. >> you don't call a real estate company a technology company because it ain't. [laughter] stuart: we are down 3 for the dow, 4 for the nasdaq, look at nike again. stock day after reporting big sales gains in china, look at it go up 5%, we have a guest who says nike has the right product and the right market at the right time when it comes to retail, okay, sales expected to be up 5% for the holiday season overall, that's a big gain, we will talk of impeachment put damper on sentiment, good question, we will discuss that next. you wouldn't accept an incomplete job from anyone else.
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and technology that have made the rx the leading luxury suv of all time. lease the 2019 rx 350 for $399 a month for 36 months. experience amazing at your lexus dealer. stuart: i'm going to put ebay stock on the screen, down a buck, down 2 and a half percent, the story here is the ceo is stepping down and susan will tell us why.
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>> stepping down and coming in is scott interim ceo, they might be looking for, again, another man to undertake, to head up the company and the reason why because they are losing in the e-commerce space, for a long time e-bay was the king, am done came along which now overtakes half of the e-commerce market, ebay lost number 2. stuart: king of retail analysis in my opinion, why do i care that these -- the ceo is stepping down? >> they want to see some change there and hopefully they'll get it. stuart: okay, show me now, please, nike because they are poised for big gain at the opening bell, i'm looking at 5%, yeah, 5.1% up on the stock, big gain there, 22% rise in sales in china, can i say or will you say nike has the right stuff in the right place in the right time?
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>> content is king, they have products people want. in this e-commerce dominated environment, only a few ways to be victorious, one to be low cost producer, they are clearly not that, another to be vertical, make the product people want and control your own distribution, they are doing that, expanding physical stores, expanding own e-commerce direct to consumer and even in china, even with the trade pressures, they can rise because people want the product. stuart: you're up 22% in china, i thought that nationalism would ace out american products and american products? >> at the u.s. open, not when they finally figuring out how to go after the women's market, women in every other sector of apparel dominate. we call the shopper she and her all of the time because we know she does all the buying and athletic apparel it's more male,
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that's kind of changed, nike is figuring it out when they get same penetration of women, they get in men, watch out. stuart: so go with this one, we are told that sales holiday season are going to go up 4, maybe 5%, that's a strong gain, wait, impeachment talk, is that going to damp down on the consumer this holiday? >> i don't think it'll have any effect whatsoever, sales up 4% year over year for a long time, holiday last year was weak, 4% range makes sense in the world. consumer confidence maybe soft, you know what, the consumer doesn't say that about today, they are money and jobs, the more they have it they will spent it. what you think about business conditions 6 months from now, what they think about the business conditions, well i saw something on the news where they
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said there might be business conditions, i better not look stupid, i'm going say it might get worse, even then the consumer confidence number is actually about the level out in june, it's not down, it's still fantastic numbers, but if consumers have money and jobs which they do which all signs they will -- [laughter] stuart: you're all right, thank you. appropriate it. look at futures again, we are back on the upside, 10-point gain for the dow. bernie sanders trying to outdo elizabeth warren. [laughter] stuart: proposing a much more aggressive wealth tax and he's calling for a national wealth registry, watch out sports fan, hold onto your money, we have the story for you.
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every day, comcast business is helping businesses go beyond the expected. to do the extraordinary. take your business beyond. stuart: yes, big day, the presidential tweet of the morning, well, -- will the democrats apologize after seeing what was said on call with ukrainian president, perfect call, got them by surprise. the transcript will be released
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later on today, we will be all over it. next newman stepping down on pressure from the board and the company will cut staff, a lot of stuff will get cut. ted joins us now. ted, let me go right at it, i cannot see wework going public this year, and i have a hard time seeing wework going public next year either. >> i believe exactly what you're saying, they will not go public this year and not go public next year, there's a big question whether this is a sustainable model of business in the first place. i think it's good that this thing actually happened now before it left the ordinary retail and investors get holding the bag. it's not business model that can succeed. stuart: does this imply that other ipo's especially
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technology ipo's are overvalued in the first place? >> well absolutely, this is not a technology ipo, real estate ipo masqueraded in technology ipo. certainly this is going to lead investors look very carefully at companies and look at their underlying profitability and their business model before they leap in. stuart: softbank has a lot of money here? >> absolutely, what does that do to the venture capital side of the equation, fundamentally what you've got is a situation where a guy with great deal of money sits down with a guy that's charismatic and decide that something can be profitable without talking to economists and anybody who understands the business that's going on and i don't think that's going to carry on forever. i think he will have his wings clipped.
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>> ted bauman, may i ask you a question about your accent, i suspect it's south africa? >> it certainly is, my other house in capetown. i assume you visited my fair city once or twice. stuart: you come back, great to see you. take a look at futures market, ever so slightly dow, down ever so slightly for s&p and nasdaq. would wall street shrug impeachment? after this. at fidelity, we believe your money should always be working harder. that's why your cash automatically goes into a money market fund when you open a new account. just another reminder of the value you'll find at fidelity. open an account today. of the value you'll find at fidelity.
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stuart: bernie sanders with all-out assault with the rich, the national wealth registry. ashley: national wealth registry. what a thing, huh, to help ensure that the rich are not able to evade tax, this would be taxes levied on income and assets, as people pointed out that would value accumulated assets owned, the problem with this is you would have to determine the value of things, art, jewelry, business ownership, you name it and you have to do it on a continual basis because they change all of the time.
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all you will do is have wealthy people hide their assets in the world. >> national wealth registry, they want to know what do you got and where is it. ashley: exactly. stuart: they'll stop you moving it and leaving it. army of tax lawyers will be employed. the dow has opened and we are up 50 points in the first few seconds of this, up 51 points. nasdaq composite, technology companies down ever such a tinny fraction right there, but nike, that is the big winning stock this morning, now it's up 5.7%, strong earnings and business sales in china, more on that in a moment, take a look at philip morris, the two companies have ended merger talks and all of this is part of the fallout from
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juul's problems and the war against vaping. big day, come on in, sha galani, liz peek and ashley webster. the juul situation, looks like the vaping industry is under serious attack and count threatened entirely? >> i think you are absolutely right. i think that is the reason that they called off the merger, juul made mistake in not going public a while ago, it will have value decreased substantially, maybe down to 25, 10% of what it was formally and the business is threatened entirely. >> just to add onto that, we had buying 35% stake, valued company at $35 billion, what does that say about where venture capital must be is going after wework after juul, uber, lyft.
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>> the longer trend to help people stop smoking, that's what's so insane about this, urge to do something because 6 people have died or whatever the number s obviously there's a problem, it all appears to be linked to marijuana vaping, let's go after that, let's figure out what the problem is but allow people who want this product which is a legal product to continue using it, i think it's nuts. [laughter] >> i really do. stuart: i think it's nuts, liz peek, fired up this morning, i will tell you that, dow is up 67 and take a look, please, at dow component which is nike, now it's up nearly 6%, strong showing in china sales there up 22%. what does this say about china's economy and the consumer in china and nike's place in china? >> i think it's more about nike's marketing capabilities, i don't know that it says anything about the chinese economy, with all intents and purposes is suffering, nike is doing everything right and the stock is hitting it out of the park, management is key to everything
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and they have done fantastic. >> online sales were 42%, women's clothing growing double digits and mark parker on conference said it was the best back to school season ever at this point and 45% margins on each and every item that they sell, how impressive is that? >> stock was under pressure, tremendous job turning it around. must-own stock. >> i also think it's an interesting sort of anecdotal evidence that china is not getting their consumers to basically eliminate purchases of american products, that's been sort of a bubbling up to the surface kind of story that the nationalistic fever, antiamerican is begin to go show up and didn't show up in nike's results. stuart: 3 minutes and the dow is up 100 points despite talks about impeachment, there's a shrug from the market if i ever saw one, that's a muted
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response, not muted response at all, they are buying? >> dust off of what happened yesterday, the market sold off, it was weak during the morning hours and kind of throughout the day, got weaker and, of course, that was the bomb that sent it down. you look at the rebound, the market of what investors are thinking, they will shrug this off, in terms of what happened with nixon, the market is going nowhere, market continues to go up. stuart: wait till you see the transcript of the ukraine call, if there's no smoking gun in that they'll be a headline and it's going to be red by the algorithms and the market will respond to that. >> we will find out. stuart: we will find out, it was supposed to be released later on today, got that, we are up 83 points as we speak, dow up 26,900 now. let's take a look at home depot, that's another stock -- dow stock i should say, wells fargo has raised its target price, it
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was 230, now fargo says it's going to go to 250, the stock is at 22 7up -- 227 up a buck. 10 days strike at general motors, it is the tenth day now and issue of temporary workers has reported been a big sticking point, the stock have done -- gone down. we report it, the 10-year yield, remember yesterday 1.7% this morning, that's where it is today. price of gold, 15.35 is the answer, where is the price of oil today? i think it's way down, i think we've come down, yes, we have, $55 a barrel, down two and a half percent despite extra sanctions levied on china for
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lifting iranian oil. >> had higher inventories well around the world so there's still a lot of supply. >> and i think reports that saudis were getting their production faster, yesterday slower than expected and now faster than expected. stuart: down to 265 as national average for regular gasoline and -- [laughter] stuart: stop laughing sha, i think it will go to 250. look at tjx, marshals division is opening first online store. ashley: there's a thing called the internet. [laughter] stuart: you're laughing at me as well. i thought the -- [laughter] stuart: have your fun, i thought the appeal of tjmaxx and
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marshals finding great buy. >> who does that anymore? you go to cosco, right? stuart: yes, i do. dow jones average is up 87 points as we speak again shrugging off impeachment talks, mcdonalds, we reported a lot of this, obviously going high-tech, first they bought tech for drive-thru service. alexa, i want a job at mcdonalds. ashley: this is great not for stuart varney, but others out there, younger folks who want to put an application they can do it through alexa, not bad deal, right? it's in pilot stage. >> they get a job application.
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[laughter] stuart: new mortgage applications tanked in the last week. how big a drop are we talking? >> down 10%, but you know what we are 3% just past 7 days, still we are solid, 9% higher than a year ago and as you know we've had interest rates are mostly tied to what's happening with the 10-year treasury yield, a lot of concerns over the markets and piling into u.s. debt and hence we did have, you know, a lot of people buying in but for the average 30-year fix we are looking at 4% for mortgage rates. 4.02%. stuart: average 4%? >> include those who don't have pristine credit records that you do? much less than what you get, right? stuart: they're all laughing at me because yesterday was one of the worst days of my life, i had
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to get into a computer to cosign on a lease, cosign on a mortgage and shift some trust funds from one brokerage to another, it was absolute nightmare. [laughter] >> liven things up with the experience but going nowhere. [laughter] ashley: get off my lawn. stuart: amazon story of the day, they are launching a visiterrual health clippic for its employees in seattle. offering prescription deliveries and in-home or in-office doctors visits to workers. >> 96% of health programs across the country have some virtual aspect to them, not everybody uses them because some people are skeptical but not that uncommon, more interesting is the long-standing alliance that amazon had with wal-mart and some other people to expand into
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health care, we are all ready for that. this is an area right for disruption and problem-solving. ashley: i think it is a bigger push, they bought -- >> for amazon it may be. yeah. >> any time amazon takes the steering wheel and guides whatever is going on it's a good thing for everybody. i like it, i think it's tremendous. stuart: agree, put amazon in there and you get more efficient -- got it, 9:40 eastern, shah, liz, thank you. so much for the markets and impeachment, the market is shrugging off, just wait till you see the transcript too. big news on the impeachment inquiry, fox ed henry has obtained a transcript of the call between president trump and ukraine's president which we will report at 10:00 o'clock
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eastern. okay, you have to stay for that sports fans, expected to go public later this week, we will talk to somebody warn this is company could go out of business if there's a recession, we will let him make his case after this . imagine traveling hassle-free with your golf clubs. now you can, with shipsticks.com! no more lugging your clubs through the airport or risk having your clubs lost or damaged by the airlines. sending your own clubs ahead with shipsticks.com out
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>> dow industrials up 80 points on this day where we are talking impeachment and this is also the day when we will get that transcript of the ukraine call, can't wait for that, watch out beyond meat cosco now selling a new plant-based burger, it's called beef, cost goes up to 288 a share, disney theme parks will start offering vegan options to guests, 132, look at boeing, the
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company will bolster engineering oversight in response to max jet 737 crashes, stock is up 383, that's boeing right now, dow component wal-mart offers -- what's this, bachelor's degrees for $a day, i guess that's for employees, lauren. lauren: for employees, $1,800 and you have a college degree from wal-mart, so 5-year program, you work at the company and for that dollar a day you get your degree, they've done this with business and management and now doing it with health care, good for them and good for them, there are healthcare jobs that pay more and wal-mart helps clinics so there's a need for pharmacy managers and the like, so benefits both people, this is a message i think to bernie sanders and others on the left who are say lg, look, we have college free, student debt problem in the country, billionaires don't give back, look what the nation's largest private employer is doing, 1 and a half million workers have the opportunity to get a college education and a job that pays
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well for $1,800. stuart: wal-mart and the walton family are doing better at this than the socialists who want to be president of the united states. lauren: that's my take on that. [laughter] stuart: pelaton expected to go public, they make pricey exercise bikes, not everybody is sold on the idea. john, you have 30 seconds to tell me why pelaton does not make it in your book? >> great to be here, stuart, well, pelaton i think they make great products the problem is they make a 2,000 stationary bike and 4,000-dollar treadmill which are essentially useless unless you agree to pay them monthly their subscription fee, where the company runs into trouble is when you hit the possible recessions, this is a company that is not at all recession proof and they're already losing well over
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$200 million at least in the last year, where pelaton can thrive is by selling potentially to a much larger company that has established retail presence case and point apple and so if they were to go down that road i think that's when the company could thrive the most as opposed to remaining as an independent company. stuart: let's turn to airbnb, expected to go public next year, this is an ipo that you really like, i will give you 60 seconds why you really, really like this one. >> airbnb is an interesting one, the market actually needs airbnb b to ipo way more than airbnb needs it and the reason is because we have been plagued by the terrible, you know, bits of piece of the news with wework, uber, lyfts and with airbnb they are almost like a cash-generating machine, low
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expenses, using software to add scale to the business, so for them to scale up the business, they don't have to substantial scale up expenses unlike wework, unlike uber and then the other thing that makes airbnb so great is that their growth rate continues to grow and they're disrupting and arcaic business of the hotel industry, so those are all great, great attributes in my book and i very much look forward to ipo. stuart: john meyers says no on pelaton and big yes on airbnb, john, thanks for joining us, see you again soon. >> thank you. stuart: get back to the market, we have paired the gains, now up 34 points and we have a pretty even split between winners and losers among the dow 30. president trump on his way to the united nations, i think, just as we are prepare to go hear what was in that call with
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stuart: can you imagine a company that helps you buy and sell investment properties, you don't actually have to see the homes you're buying, you don't have to live in them either but you can invest in them if you're a wealthy millennial, roof stock is a company which does just that, joining us ceo, let me see if i've got this right, gary, supposing i was a wishful millennial, wishful thinking and i live in new york city. >> you are one of those two things. stuart: that's very true, i can't afford to buy in new york but i can afford to buy in a much less expensive area as an investment, you're the guy that puts my money into more easily investable area, have i got it right? >> you do, but you don't have to be rich like you, stuart, a lot of homes in our trade for
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$100,000, maybe 20, 25,000-dollar investment using debt. >> okay, that's fair enough. whereabouts are most people buying? i mean, for those millennials who live -- got some money living in california, new york, wherever, where are they buying investment property? >> well, we are seeing on our side is primarily the southeast and midwest, so these are markets like atlanta, florida, texas, the carolinas, places like indianapolis where you can buy a really nice home for 120, $150,000 and get really nice rental, so you have someone else paying your mortgage, paying down your debt and generate some free crash flow every month, nice deal. >> where do you make your money, where is your cut? >> so we charge a fee, the sellers pay us a fee of typically 2 and a half percent, a lot less than selling through
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traditional means and the buyers pay half percent to use our platform. >> is this an entirely online operation? >> it is online, you can go through -- i don't want to say it's quite as easy to buy a book, but that's the idea, what we have tried to do is work amazon one-click investment, the diligence is done up front like traditional transaction where you put something under contract and you have a bunch of time for diligence, we have properties inspected up front, virtual tours, valuations, et cetera, you can do underwriting from your couch and i think most people -- 93% of people are buying over 250 miles away from where they live, so they really never see the physical property often times. stuart: you're a private company at the moment, i believe. >> correct.
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stuart: you don't have to tell me but how many people have you helped with the distant investments, the rent vesting as i call it? >> sure, a couple thousands so far, we are growing fast and, you know, our traffic is building every -- every month, so what i'm seeing is increasing interest from millennials for a lot of reasons and one of the things that i just came across the other day, 20% of millennials today want to buy a home to live in where 3 years ago that was 40% and so as we started asking the question why the idea of decoupling where you live from where you own is powerful, paying for what you use. stuart: great idea, gary beasley. thank you, sir. >> thank you. stuart: basketball legend michael jordan making serious money from sale of charlotte hornets. can you tell me how much?
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>> a sliver, we don't know how much they got and paid for it, went to two new york base investors, now, don't think that michael jordan is getting out, he still has the majority of charlotte hornets, i want to point this out, he bought the franchise for $180 million back in 2010. according to forbes the most recent estimated value is 1 at any time -- $1.25 billion. pretty impressive. stuart: he's golden. here we go, 9:56 eastern time and the dow industrials after 26 minutes of business now up, 22 points, the dow is at 26,800, we have big news on the impeachment inquiry, fox's ed henry obtained the transcript of that contentious call between president trump and ukraine's president, we are going to
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can you help with these? we're more of the plan, invest and protect kind of help... voya. helping you to and through retirement. brian: breaking now, 10:00 eastern time. the transcript from the call between president trump. blake burman has seen it. blake you're on. reporter: yep, i'm here. the conversations president trump had with volodymyr zelensky at 9:00 a.m. here is the call. the quote, president trump says, quote there is a lot of talk about biden's son. that biden stopped the prosecution and a lot of people want to find out about that, so whatever you can do with the attorney general, meaning attorney general bill barr, would be great. biden went around, president
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said, brag he stopped the prosecution. so if you can look into it, dot, dot, dot. it sounds horrible to me. president zelensky, responds he or she will look into the situation. very clearly on page four president trump asking the ukrainian president, the newly-elected ukrainian president to look into at that time his main, one of his main potential democratic rivals, joe biden, was leading the field. president trump made the claim that joe biden used his position as then vice president to help benefit his son, hunter biden's business dealings with ukraine. i mentioned this is five-pages, stuart. let me just sort of tick you through them real quick, so i put everything in context here. 9:03 empty in the morning july 25th made from the white house resident.
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president trump congratulating volodymyr zelensky on his recent win. zelensky says we won big there is chitchat. the conversation on page 2, president trump saying that he does a lot for ukraine. the u.s. does more than germany. the president thinks there should be burden-sharing with ukraine. president zelensky, says you're right. he agrees germany needs to do more. at that point the president then shifts the issue to crowdstrike. and the dnc server. crowdstrike was the company that was investigating the dnc server which was hacked during the 2016 presidential election. top of page 3 now, if you have that. it is long. let me read it. i would like you to do a favor president trump says, because our country has been through a lot and ukraine knows a lot about it. i would like you to find out what happened with this whole situation with ukraine. they say crowdstrike. i guess you have one of your wealthy people, the server, they
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say ukraine has it. there are a lot of things that went on, the whole situation. i think you're surrounding yourself with some of the same people. i would like to have the attorney general call or your people and, i would like you to get to the bottom of it. president zelensky says, it is very, it's a very important issue. that is page 3. page 4 moves on to joe biden. the exchange which i just read to you where the president says he wants biden and his son to be looked at. zelensky, he or she, upcoming prosecutor will look into it. shortly after that the president says, quote, i will have mr. giuliani give you a call and i will also have the attorney general barr call. we will get to the bottom of it. i'm sure you will figure it out. i heard the prosecutor was treated very badly and he was a very fair prosecutor. so good luck with everything. the president there is referring to the former ukrainian prosecutor who was let go, who was looking into the business
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dealings of a company in which hunter biden sat on the board. the international community has noted that was not a fair prosecutor. page five, the president goes on to say, president zelensky says, i want, i also want to insure you we will be very serious about the case and we will work on the investigation. president trump ends this exchange by saying, quote, good. thank you very much. i appreciate that. i will tell rudy, rudy giuliani, and attorney general barr to call. so, stuart, what are we to take away from this? five-pages, as you can see at the top, now says unclassified. the white house is going to make the argument there is nothing in here that suggests a quid pro quo of $400 million of ukrainian aid had been delayed tied to an investigation into joe and or hunter biden. that is part of the case they will make. they will also make the case the media has gotten a lot of this reporting wrong. however on the other side this
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certainly gives democrats fodder to say that the president of the united states had asked a foreign leader to look into an investigation of, at that time his main political rival and his main political rival's son. nancy pelosi yesterday, stuart, you will remember she said clearly said there doesn't need to be a quid pro quo. the fact president trump engaged in the conversation, why, part of the reason why they are leading an impeachment inquiry at this time against the president. bottom line here, stuart, an argument to be made on both sides but democrats are moving full steam ahead with this impeachment inquiry as they say the president engaged in an improper conversation. one last thing to note, stuart, if you don't mind real quick, you will notice some of that language was choppy. even though this is quote, unquote transcript, this is not a exact word verbatim transcript as it notes on the bottom.
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caution, a memorandum of telephone conversation is not a verbatim transcript of a discussion. the text in this document records notes and recollection of situation room duty officers and national security policy staff assigned to listen and memorialize the conversation in written form as the conversation takes place. it is part of the reason why democrats are saying they want the white sell blower complaint -- whistle-blower complaint to be given to congress. the department of justice is outlining reasons why they do not believe legally that can be handed over. that is where it stands if you have any questions. stuart: i think you got it all in there, lad. up to us to sort this thing out. to me, bottom line, no smoking gun. ashley: no. stuart: the democrats will make a great deal that it is not verbatim transcript of the, of the, transcript. not verbatim. ashley: of the conversation, now the whistle-blower filed a
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complaint to the department of justice. the doj, the department of justice has responded to that complaint. ashley: the whistle-blower said he did that it was of urgent concern. that is an important phrase. in a four or five-page response the doj's office of legal counsel said summarizing saying we conclude that the complaint submitted does not involve, quote, an urgent concern. as a result, the statute does not require the dni, the director of national intelligence transmit the complaint to the intelligence committees. however the letter and the attached complaint have been referred to the criminal division of the department of justice for appropriate review. stuart: to me that is all sidebar stuff. ashley: it is. stuart: that is all weed stuff. this call did not, this is my opinion, did not contain a smoking gun. did not contain anything that could be used to impeach the president of the united states. let me see if we have agreement on that with katie pavlich, who
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joins us right now. katie you heard what got to say. what do you say? >> there was nothing in this call that the whistle-blower accused the president of doing. it was a secondhand account t was very clear it was a secondhand account. if this is what democrats are going off of, it will be a hard push to justify going all the way forward with impeachment before they had seen the contents of the phone call. what is interesting to me that stands out, democrats will argue the president of the united states asked a foreign leader to look into his political rival while ignoring that this was the former vice president, joe biden, who bragged about firing this prosecutor while holding, as a bribe, or as extortion the one billion dollars in loan security unless he fired the prosecutor. so the president, the current president of the united states is asking ukraine to look into it because the former vice president engaged in this kind of behavior. that is when you see the
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transcript, when it says we want to make sure that we restore honesty to clean up that situation. so that is going to be narrative but the reason that the president is asking for them to look into this is because vice president joe biden is the one who is bragging about this. if there was any other person in the situation you can bet that they would be looked into but joe biden is getting a pass because he has the shield of people being able to say he is a political rival, therefore the president is abusing his power. stuart: now, all of a sudden, we've got to consider collateral damage on joe biden? >> right. stuart: what his son was doing in ukraine, and china, i want to know. >> ironically as well, the president was discussing is ukraine's role in election interference. all of the questions that reporters have been asking for two years is whether the president will condemn election interference from russia. here he is is on a phone call expressing concern about
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ukraine's role in hacking, in being part of the russian troll farm they had in eastern europe. they won't be talking about, giving him credit for being concerned about those things. stuart: stay with us, please, katie. we want you right here. look at that chart on your screen. that chart tracks what the dow jones industrial average did this morning as we headed towards the transcript release. we opened with a gain of about 80 odd points. i think it was roughly that level. we came down. then just before the transcript was released we were down to minus, i think about minus 20. now we've got the transcript. i don't think it shows a smoking gun and up goes the market. now we're up nearly 50 point. we're up 50 points and rising. i think we should bring in dennis gartman on this. seems to me, dennis, there is no smoking gun and investors are shrugging this transcript off completely. what say you?
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>> well i will say first of all the president probably should not have had the conversation to begin with but clearly after listening to transcript there is no smoking gun here. i've never been a great fan of the president. i find his policies on trade to be disruptive at best but here i think the democrats have overstepped their bounds. this is not a smoking gun. this is not what they hoped to get out of it, they will make much of as katie said, as you said, that this transcript is not exact verbatim transcript, how shall we say translated very modestly. there is nothing here. the market sold off rather briskly on concerns over impeachment, that is probably got to go aside very quickly. the market will end up the day on the high side. stuart: consider this, the democrats are probably not going to let this go. >> they will not. stuart: speaker pelosi is heavily invested in this.
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keep going all the way to the election. my point how do you get anything done? how do you get usmca? how do you get drug price legislation? how do you get china trade deal, how do you get that through congress? >> that is the problem. stuart: that is the problem for investors if they keep going with this. >> that is indeed the problem, what i was concerned this morning if i wrote the newsletter, if there was tacit smoking gun through the transcript of, lived through the nixon impeachment in 1972-74, clinton impeachment proceedings, pressure on stock market during those periods of time i was concerned this would be protracted, carry on months and months, nothing indeed would get done. we need to see usmca be passed. we need to see an agreement between the united states and china regarding trade. i'm afraid that may go through the, out the door if this goes on. the democrats will not give up on this they will press this to the very end. if they were predicating it on a
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transcript of this conversation between the president and mr. zelensky, they're probably betting on the wrong thing. stuart: so can we say that for the immediate future this market is going to shrug its shoulders at the politics and what it is going on in d.c., can you say that? >> i think you can say that. there are other concerns it has. it is concerned about consumer credit or consumer confidence. it is concerned about levels of margin requirements. it is concerned about slowing economic activity here in the world and united states. it is concerned about pmis in europe on the downside. there are other concerns. but the concern over a transcript and an impeachment proceeding that is probably gone out the door. stuart: okay, dennis, would you stay right there, for us please. >> sure. stuart: i want to bring in tom emmitt, minnesota congressman, chairman of the nrcc. sir, i didn't see a smoking gun. did you? >> no, no smoking gun. one thing is very clear, these
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socialist democrats, stuart, they have become so radicalized in their hatred of this president that they will do anything to try to push impeachment. in fact they have spent the better part of the last three years, in fact they have spent the last three years, doing exactly that, making impeachment claims. then trying to backfill in the facts after they made the claims. you know, you would think after two years and $32 million and a mueller report that found no obstruction, no collusion, no basis, you would think they would have given it up. instead their obsession throwing this country into a constitutional crisis, mark my words, stuart, it will mean a new republican majority in the house of representatives next november. stuart: because those moderate democrats elected in trump-leaning districts they now have to shoulder the burden of speaker pelosi's urge to impeach. i agree with you, frankly, tom. i don't think it will go their way. in fact i think this will
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rebound badly on joe biden. and if he is, he continues to fade, if this continues, all you're going to be left with for the democrats is two basically socialist candidates for presidency, elizabeth warren and bernie sanders. i don't see this, doing any good for the democrats? >> no, no. you have hit it. these swing districts, these democrats who tried to run as moderates, tried to actually run on republican values, who came to congress, by the way are following this new socialist agenda -- stuart: excuse me, if i jump in. can i interrupt. the president is talking to people about venezuela. let's listen in for a moment. [inaudible].
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stuart: as you can see there, the president is at the head of the table. he is meeting other world leaders. i'm not sure i can identify all of them but they are world leaders. he is addressing them on the subject of venezuela. perhaps suggesting what they can do to help remove maduro. i'm not sure of what he is going to say, but that is the nature of this meeting. it is a busy day for the president. he is holding this meeting now. a little later on this afternoon he meets japan's prime minister shinzo abe, they will announce, i believe conclude a trade deal between the two countries which will be of major significance for american farmers. that is this afternoon. right now here is the president. >> are you ready? ready? thank you very much. thank you. i'm honored to be here today among so many terrific leaders dedicated to the future of democracy, prosperity and freedom for the people of
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venezuela. we are behind you. for this deeply important event we're grateful to be joined by secretary mike pompeo, secretary steve mnuchin, secretary wilbur ross and administrator mark green. thank you all for being here. thank you very much. i want to extend my profound appreciation to every representative with us from across the western hemisphere each of you is part of a historic coalition of 55 countries that recognized the legitimate constitutional government of venezuela. we are especially grateful to be joined by representative -- stuart: my apologies. let's bring back tom emmer, i'm sorry i interrupted you. you were in full flight whether this was good for the democrats or bad for the democrats. i interrupted you to make way for the president of the united states. continue, please.
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>> stuart, you can always interrupt for the president of the united states but i think the most important here is, and you were making it earlier, when 2/3 of americans are not interested in the constitutional crisis the democrats are trying to force, this is going to cost them. their insanity over impeaching this president over without any basis in fact it, will cost them their majority. again, mark my words. yesterday was the beginning of the end. you have a socialist, democrat majority pushing all these differ ideas and socialism, quite frankly has done nothing, stuart. they don't work with the senate. they don't work with this president. they have accomplished exactly nothing. your previous guest where you were asking about how is the congressional legislating going to work, it only works if you have people in divided government willing to sit down to reach agreement. again these democrats have become so radicalized, these socialist democrats and their hatred of this president all they can think about is
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impeachment, they are not listening to the american people and they aren't respecting the will of the american people. as a result suffer the consequences in november of 2020. stuart: it is bad for the country if nothing gets done in congress. there are really pressing issues, we noted earlier, usmca, new nafta of primary importance, it has to go through congress. can it go through congress in an atmosphere like this? drug price legislation. infrastructure a package on that. i don't see, if anything can get done if this is the climate of impeachment? >> stuart, think about it. i mean you have just brought up two of the most important things. we need the trade agreements. we need them to get done. we need to make sure people can afford important medications that keep them alive and actually allow them to manage their lives. instead of concentrating on things that will help the average american with his or her life, with their ability to
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live, we don't have any leadership in the house. what we have is we have a leader who is absolutely committed to impeachment and moving forward against this president without any basis. they haven't seen the whistle-blower report. you had it reported on the transcript. there is nothing in the transcript that supports this. yet, by the way, again, 2/3 of americans don't want anything to do with this constitutional crisis. yet they are going to continue to move forward. it is going to cost them at the ballot box in november of 20. stuart: tom emmers, thank you for joining us. we're looking for reaction to the release of this transcript and we're getting some. susan, what have you got for us. susan: as we mentioned with the whistle-blower complaint from the inspector general of the intelligence community to doj, department of justice, what they found, relying on established procedures set forth in the justice manuel doj in the criminal division reviewed
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record of call, based on the facts there was no campaign finance violation and that no further action was warranted. all relevant components of the department agreed with this legal conclusion. and the department concluded on this matter. stuart: that is interesting because you would expect some political reaction. we have the department of just at department of justice saying no criminal violation. susan: no criminal violation. this zeroed in to possible campaign violations not tied to foreign aid. the company crowdstrike was mentioned in the phone call, it is a publicly listed company. had a successful ipo this year. down 1 1/2% on the market. stuart: 1 1/2%, that's it? that is not much. we're looking for response to the transcript release. i saw senator mcconnell appear on the floor of the senate. not sure exactly what he said. i will bring that to you. katie, can you see any other reaction. >> chad pergram, our amazing
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capitol hill producer, nancy pelosi hadn't seen the transcript. i read the transcript hour ago. she hasn't seen it but still accusing the president asking a foreign government to help with political campaign. he will be held accountable. no one is above the law. democrats yesterday when nancy pelosi came out to make their impeachment inquiry announcement, that was hinging on the accusation that the whistle-blower saw secondhand or was told secondhand there was a quid pro quo. that there was an exchange made, and you investigate joe biden's son, we will then give you military aid. the president's alibi the entire time i was talking about the germans and europeans helping ukraine more. that is exactly what transcript shows. stuart: that's right. i'm looking at headline in "new york times," i know you've seen it, trump told ukraine's leader to work with barr, attorney general, to investigate
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biden. is that an impeachable offense so to speak? i don't think it is. >> if you read the transcript he doesn't use the word investigate. look into the firing of the prosecutor who was looking into joe biden's son. he is not specifically calling for any kind of new investigation. in fact he is asking for an investigation into why the prosecutor was fired. if you look at what doj is saying this morning as well, attorney general barr said that the president has never talked to him directly about pursuing any kind of investigation with the ukrainians into joe biden or hunter biden although he is mentioned in this phone call. there was never any direction from the president to the department of justice on this side in washington to pursue that investigation. so if you read, between the lines, he is not necessarily calling for an investigation of joe biden or hunter biden. he is wanting to know why the prosecutor was fired in the first place. which again joe biden as
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vice president bragged about while withholding one billion dollars in loan guaranties. so the question for democrats is this, after the russia narrative for two years backfired, we found out it was actually the democrats and dnc and hillary clinton campaign who were working with opposition research firms who had russian assets, giving the media and the fbi information, will this narrative again prove that they're circling wagons around joe biden to protect him from any investigation into what hunter biden was doing with china and ukraine? the rnc is jumping all over it, maybe vice president joe biden should release transcripts of his calls while he was in office with leaders of ukraine. stuart: i knew it. i knew it would rebound against joe biden. listen to this. hillary clinton, she just tweeted -- >> oh, great. stuart: she just tweeted following the ukraine call transcript, here it is. the president of the united states has betrayed our country.
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that is not a political statement. here is the president speaking about it. >> as certain presidents speak. i know that is what you want to hear. >> mr. president, let me dot introductions. mr. president let me say how proud i am about everything you led -- stuart: we thought he would answer questions on the transcript but apparently not. let me continue with what hillary clinton just tweeted. put it back up on the screen so i can read it. here we go. the president of the united states has betrayed our country. that is not a political statement. it's a harsh real think. woe must act. he is a clear and present danger to the things that keep us strong and free. i support impeachment. congressman emmer, you're still with us. will you react to hillary clinton's tweet? >> oh, is amazing the double standard that these people have. you know on one hand they talk about no one's above the law.
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this president has been scrutinized more than anyone in the history of this country. again, $32 million, two years a huge team looking into everything. they come back, there is nothing there. now on third hand information with a secondhand whistle-blower complaint that they haven't seen they start an impeachment proceeding yesterday. it doesn't matter what they are given. they still stick with the same obsession. they again, this is, the american people don't want this. the facts don't support it. their obsession, frankly, their insanity is cost them all credibility with the american people. and is going to cost them at the ballot box. there will be a new republican majority after this is over in large part due to this. stuart: tom, thanks very much for being with us on a very important day. we do appreciate it, sir. let me remind you that the dow industrials turned around. >> thank you, stuart. stuart: we were up at the opening bell.
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then we turned negative after the transcript was released. we're back on the upside. not. by no means this is a spike. it doesn't look like the gore -- algorithms were reading headlines out of the transcript. there is no serious move. we're up 30 points. that puts us at 26,839. we heard from speaker pelosi she had not read the transcript. that was an hour after it was released to most people. she has not read it. i'm waiting for comment from her after she has read it. the dow industrials rebounding up 30 point. we're getting some questioning of joe biden, what was his son really up to there? ashley: right. stuart: and what, if anything is wrong with our president asking a foreign leader to look into an investigation that is already in progress about an opponent's son? what else have you got. susan: nancy pelosi did say the
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fact that the president asked foreign governments to interfere with our elections at expense of national secure, she says this will not stand in her view. maybe she hasn't read the transcript just yet. that is what she just said. stuart: just said it. susan: within the past hour. stuart: would you repeat that, please? susan: the fact that the president asked a foreign government to interfere in our election at the expense of our national security that will not stand. stuart: to interfere in an election, what do you make of that? >> she is making the jump that the president was encouraging the new ukrainian president to look into former vice president joe biden because he is a current political opponent of the president, not because he encouraged the firing of the prosecutor that they are discussing in this transcript and not because of joe biden's son's business dealings which this prosecutor happened to be investigating when joe biden bragged about getting him fired. stuart: i don't think there is a smoking gun. i don't think there i saw
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anything like a quid pro quo. >> right. which was the accusation from the whistle-blower. stuart: the whistle-blower and the democrats were making the assumption that the president withheld money from ukraine until they did something to investigate joe biden's son. >> correct. stuart: that is not the case. that did not show up in the transcript. >> the question now for democrats, where do they go from here? nancy pelosi made this big announcement yesterday, impeachment inquiry. it is still not impeachment articles that have been voted on the house floor. ashley: right. >> they are not at real impeachment yet. they're still in the inquiry. called on committees to do investigations to submit information. so after the russia probe ended, jerry nadler from the house judiciary committee kept calling up the same witnesses that robert mueller already interviewed. now we're in this new stage of this accusation, will there be a whole slew of new witnesses? adam schiff, chair of the house intelligence committee, said
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that the whistle-blower is coming up to capitol hill to testify. will the house democrats subpoena a whole new set of witnesses over the course of this next year, dot impeachment inquiry investigation based on a new allegation which is essentially debunked in the transcript. stuart: it reminds me of russia, russia, russia. ashley: then it was obstruction, obstruction be obstruction. now it is ukraine, ukraine, and now impeachment, impeachment. stuart: keep it flowing for our president. >> democrats have to be careful what we wish for. if we want to go back to ukraine in 2016 what they were doing, don't forget a member of the did nc went to ukranian embassy in washington, d.c., asked for dirt on president trump working on behalf of the dnc if they want to tread over this ground again, this may show they were more involved in the election interference they are constantly condemning as we've seen with the russia narrative as well. stuart: i want you to repeat
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that please. someone from the dnc, the democrat national committee. >> right. stuart: went to the ukrainian embassy in washington? >> asking for dirt on donald trump. stuart: the democrat party in the 2016 election. >> correct. stuart: asked for dirt on the upcoming president of the united states. >> yes. stuart: as a political movement? >> today the justice department reiterated through a statement that u.s. attorney john durham who has been appointed by attorney general bill barr look into the origins of the russia investigation is also looking how ukraine played a role in election interference in 2016. stuart: i just knew it. the tide will turn. turning away from presidential impeachment and ukraine and turning towards joe biden and hunter biden and the election of 2016. >> that is why you're seeing the narrative so strong both from democrats in the media. they're circling the wagon around front-runner joe biden. they think they are he is the only person that can beat donald trump.
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they're doing the best they can to protect him from investigations. stuart: that is interesting. >> what a time to be alive. ashley: especially news. stuart: the price of oil is down this morning and ashley will tell us why. ashley: no, i'm going to tell you that the oil inventories just came out and we had a build of 2.4 million barrels. we were expecting a slight drawdown. in other words there is more oil sloshing around which should as we have have just seen bring prices down. we have more of it. stuart: maybe helping the market, stock market too. look what is happening there. now we're up 90 points for the dow industrials. we're back at 26,700 almost. the dow up 90. s&p, nasdaq, technology still under pressure. susan: nike is driving up the dow, contributing 30 point to the dow's gain. stuart: if you take nike's 30 points out you have a gain of 60 points for the dow industrials or roughly speaking. it is an upside market since the
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transcript was released. showing no smoking gun or quid pro quo in my opinion. what a day. shall we catch our breath? new home numbers. susan: better than expected in august. contributed to the small decline at the top at 10:00. if we have better home outlook what does that mean for interest rates? will they be cut as much as people expect for the rest of this year? this is after a slight miss in july. housing better than expected. existing home sales are pretty good. now new home sales are good. this accounts 1/5 of the u.s. economy. don't forget. stuart: we've been waiting for the moribund, the slow moving housing market to pick up some real steam and be an economic leader as opposed to something of a laggard for our economy. ashley: right. stuart: dennis gartman, you've been listening to all of this i do declare. what do you make of the market, the state of the market, dennis?
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tell us, what is going on here? >> well obviously the market had sold off dramatically on impeachment proceedings or impeachment inquiry announcement. there is really no smoking gun. the president probably shouldn't have had this conversation but clearly not a deleterious conversation. the market is responding moving higher. it will be interesting to see if it closes higher on the day. probably should. one word of caution, on this good news, this is good news, the fact that the impeachment will be probably quashed or put aside even though the democrats will try to press forward with it, not carry through, if the market closes lower on the day, i don't think that will happen, that would be a very bad technical sign. you have to suspect it wants to go higher. the trend is still up. moving from the lower left to the upper right, the fact there was no quid pro quo. the loser in this circumstance is clearly senator biden. stuart: okay. i think i will wrap it up with that. thank you for being with us.
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let me wrap this up. the dow jones average is up 78 points. that is the market response to release of some positive economic numbers and also to the release of the transcript which essentially showed no smoking gun and again this is my opinion, no quid pro quo. up we go 80 odd points up for the dow industrials. let me show you nike. that is really helping the dow to the tune of about 30 points. nike turned in a strong profit report which included a statement that their sales in china had gone up 22%. that is a very nice gain in china for an american company. the stock is up 5.7%. it's a dow stock. that is helping the dow industrials. good to see nike way up there with strong sales in china. another big story is juul, the vaping people. their ceo is stepping down.
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this is all about vaping. ashley: every day it is about vaping and never a positive headline appears. kevin burns, former now juul ceo stepping down. resigning. former altria executive casey cross wait taking the helm. philip morris an altria group announced announced in august there would be a merger, basically reuniting them after being away for decade but now no more. advertising has been pulled back, almost across the country until they can figure out what is the problem with vaping. and what is doing with mysterious illness that attacks the lungs. vapeing period, every day it's a negative headline. now we have the juul ceo stepping down. stuart: negative headlines there. let's turn to wework. i will call that a negative headline. ceo adam newman. he has stepped down. there is one problem after another for wework.
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i will say it again, i don't see them going into ipo this year or next year. susan: very difficult to get an ipo in 2019. they may need public in 2020. there is a lot of cash burn. they lost $2.16 billion last year. they needed one billion to raise loans to tap the debt markets for a few billion dollars to cover their costs. they might be cutting their workforce up to half. these are not good metrics. adam newman is stepping aside as ceo. he is the non-executive chairman being ousted by the board. this is because of bad behavior. they read in the "wall street journal" this article came out last week. also the fact that you have revenue almost equivalent, your sales are equivalent to your losses. you can't get the market to buy in at 47 billion-dollar valuation. softbank actually purchased in a private placement at that level. so if you have your biggest hair shoulder turning against you, that means you maybe have to
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step aside to find outside leadership. juul, is this the peak of the unicorns? private valuations how much will you pay for unprofitable companies with cavalier leaders at the helm of these startups? >> that is a very good question. the ipo valuations are they too high? would you put your money in as a private investor? would you do it? good question. i want to turn to the wealth tax, the proposal from bernie sanders. actually there are two proposals from bernie sanders and elizabeth warren. they want to go after people that aaccumulated money in their lifetimes. special guest, wayne clark is the chairman and ceo of egist living. have i got the pronunciation right? >> aegis living. stuart: socialists and they're
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going after your customers. you put that into assisted living facilities which you run. >> this gives me a ice cream headache. this is difficult. everyone is punished. seniors saved their whole lives. iras, stocks, governance that senator warren i'm sure she is smart lady, governance she wants to put in place. every company over a billion dollars, two fifths of the board have to be employees. i don't think there is good risk analysis of this. i have dealt with over 60,000 seniors in my career. i know what seniors want. it is not another 200-dollars on their social security. social security is broken, there is no doubt about that. the problem we're trying to recreate the ol' program that was broken. it was enacted iney 35. the average age of people that lived that time was 61.8 years old. almost 80 today. people are living 18 years ol'
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but looking at 65 for age of retirement. stuart: essentially these wealth taxes, increasing taxes across the board from the far left that is really bad for your business, i understand that. something that is good for your business is this tax exodus away from high-taxed states like new york, new jersey, california. >> right. stuart: into i guess florida, nevada, tennessee, texas? that is good for you guys. >> it is. even states like wyoming and alaska that are great tax shelters for seniors. seniors, the senior industry is huge. anti-aging business right now is almost 60 billion, expected to go to a quarter of a trillion in business. we have to use seniors in a way that will enhance their lives, not punish them for doing a good job their entire life. stuart: your business expanding i take it? >> vigorously. we're hiring 1000 employees the next four years.
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senior market is coming back. 24% of men 65 years old are engaged in employment now. legislation that will punish seniors, look to give them more purpose in life. i wrote this book, 30 summers more. one of the things i discovered in five years of research the number one thing people want in their elderly years to be acknowledged for their wealth, knowledge, and wisdom. we could put this business to work. if you want to offer incentives, offer incentives to hire seniors. maybe a minimum wage for seniors that is different than the 16-year-old kid scooping out ice cream? they have experience that is incredible. look at incentives that drive this market. we have more huge wealth of seniors the we have more 100-year-olds than any other time. that is supposed to rocket towards 200,000. stuart: pro-business in america? what a concept.
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>> this legislation could take down american business. it will take us off the world stage in terms of innovation as who we are as a country. it is just not going to work. stuart: i hope we relieved your ice cream headache. >> it is going away. stuart: you've done well. >> thanks, stuart. stuart: duane clark, aegis living correct? >> aegis living. stuart: we'll take it. thank you for being here. >> thank you. stuart: national championship winning coach, say that again? okay. i've got something entirely -- this is turning on a dime. i'm turning on that dime. i have something entirely different for you. national championship winning college football coach, bob stoops. he is a great american success story. and he is on the show. by the way he is next. stay there please. ♪ imagine traveling hassle-free with your golf clubs.
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stuart: now we have a solid gain for the dow industrials. this is transcript release day. in my opinion we did not see a smoking gun and i don't think we saw a quid pro quo having looked at that transcript all five-pages of it. martha maccallum from the fox news channel. she has "the story" with martha maccallum. that is the story? >> it's a story, white a whopper. stuart: no smoking gun, no quid pro quo, how do you see it? >> it is very interesting as the you go through the course of the conversation. one of the things the democrats are pointing to initially there is sort of a instructional part of that that says this is the, sort of recollection and notes that were taken in the situation room by a number of people who were taking down all the information from this call.
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they're going to drive a truck through that opening if they believe that there is anything substantial that is missing here. the other thing that can be pointed to in terms of on the quid pro quo question is that the president of ukraine, president of ukraine zelensky talks about the fact that they are almost ready to buy more javelins from the united states for defense purposes. the very next line from president trump, i would like you to do us a favor though. so that little exchange is clearly something that some would point to if you're looking for the quid pro quo part of this. now what i find very interesting is that what he is asking favor about really goes to, everyone made a lot about the fact, i asked hogan gidley last night, gee, why would the president have the conversation the day after he has got the mueller monkey lifted off his shoulders, right? the day after he engages in this conversation. but what you learn in this paragraph i would like you to do
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us a favor he want to know about the whole situation with ukraine, crowdstrike. i guess one of your wealthy people, the server, ukraine has it. in my interpretation at this stage of the game looking at this 40 minutes from now he wants to dig into the origins of the russia investigation. he believes that ukraine understands a little bit more about this. of course president trump being president trump has not dropped this issue. he knows there is an on going investigation that john durham is doing. he knows the i.g. report is to come out. he appears to believe that ukraine may have some information about this this tells me that on this call this is the priority. the biden stuff kind of spells out later. it is initially raised by president zelensky with regard to biden. it all goes to the issue of corruption, political involvement on the part of ukraine, did they help the democrats with the origin of this investigation? the bad ambassador they got rid of who some people believe were
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in connection with some of the players here, trying to dig up dirt on manafort and others there is a lot, there's a lot here. stuart: could i say there are two pandora's boxes which this transcript opens up? pandora's box number one, more on russia, russia, ukraine's role. >> that is in it. stuart: on the server. box number two, what was the hunter biden doing in ukraine? >> there is the russia origin issue and biden issue. stuart: one second, please, mr. trump is speaking. >> the democrats just came out, they went down, a group of people, some of whom i was dealing with the gun issue. they put tremendous pressure on ukraine. the president himself just came out with a statement saying there was absolutely no pressure put on him. and there wasn't. what i do want to see i want to see other countries helping ukraine also, not just us amounts usual the united states
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helps, nobody else is there. i want to see other countries help. just so you understand, it's the single greatest witch-hunt in american history. probably in history but in american history. it's a disgraceful thing. the letter was a great letter, meaning the letter revealing the call, that was done at the insistence of myself and other people that read it. it was a friendly letter. there was no pressure. the way you had that built up, that call, it was going to be the call from hell. it turned out to be a nothing call other than a lot of people said i never knew you could be so nice. so part of the problem you have is you have fake news, you have a lot of corrupt reporting, you have very fine reporters and journalists but you have a lot of corrupt reporters, a lot of corrupt journalists. i would rate you right in there by the way. excuse me. excuse me. excuse me. excuse me. excuse me. so we're having, if you noticed the stock market went up when they saw the nonsense, all of
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sudden the stock market went down substantially yesterday when they saw the charge the after they read the charge, the stock market went up very substantially. we have created the greatest economy in the history of our country. the greatest economy in the world. had my opponent won, china would right now be the number one economy by far and right now china is way behind us. they will never catch us if we have smart leadership, way behind. we've picked up trillions of dollars and they lost trillions of dollars. they want to make a deal very badly. it could happen. it could happen. it could happen. it could happen sooner than you think. our military is rebuilt. our military has never been stronger. when i came in it was depleted. our vets are so happy. so many great things are happening and the democrats feel, they're going to lose. we had highest poll number, rasmussen 53. they say you could add 10 to it. a lot of people say you can add
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more than 10 to it. a lot of people just don't want to talk about it but they want to vote for trump. i just say this. we have the strongest country we've ever had, we have the best economy we ever had. we have the best unemployment numbers we ever had. we had the best employment numbers we ever had. we have almost 160 million people working. that is far more than we've ever had working in our country before. thank you very much, everybody. [reporters shouting questions] thank you very much. stuart: did you catch that the president mentioned china trade. president said a deal could happen sooner than you think. as soon as he said that the market went up some more. now we're up 120 points. when he said what he just said. it was up about 90. so you got a nice gain there after the president said a deal with china could happen sooner than you think. he took on the media too, didn't he. >> absolutely. i just want to point out one
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other thing. in the beginning of this transcript this goes to the president's argument. he just brought it up again here. that the reason that he wanted to discuss the funding and financing for ukraine is that he wanted all of the european countries to be part of that. that he doesn't feel they're doing enough. that merkel wasn't doing enough. macron wasn't doing enough. ukraine president agrees 100%. of course he wants money from everybody but he seemed to say, i hear you. i know what you're saying about the fact that these other countries are not anteing up the way they should be especially given rhetoric how much they care about ukraine. that goes directly to the president's argument that is why he was with holding the money not because of an investigation. those were his concerns. it substantiates his contention. it is clearly in the discussion. it comes right before the other stuff. stuart: it is fascinating stuff. you have to parse every word.
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the point it is not very bait imtranscript of call. ashley: it was half an hour call, half an hour call summarized. that is what we got. the democrats will drive a truck through that. we don't want the exact words on call. >> there was another zelensky phone call. everyone will match up the time of the phone call in terms of defense projects underway and timing all of that. lots more to come. stuart: martha, can't thank you enough for doing my job. going through the transcript. terrific, martha. >> thank you for having me. stuart: we'll watch tonight. look again at the market. look at this please, ladies and gentlemen, we're up 167 points. that's a gain of pretty close to 100 points in matter of two minutes. here's what happened. the president was answering questions from the media. he is a at a meeting with world
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leaders about venezuela. he breaks away to answer chaotic questions of the media, one of the answers he said the following, he want to be precise, talking about a deal with china, a trade deal with china. he said a deal could happen sooner than you think. the moment he said it, the dow went straight up. now we're up 160 points. how about that? ashley: that is what it took. stuart: this gain, the current gain in the market has perhaps more to do with the president's comment on china than it has to do with the transcript where there was no smoking gun and no quid pro quo. anyone want to come in on that. susan: i didn't think there was that much reaction at 10:00 a.m. when the transcript came out. i feel like the investment community, you have your opinions you are sticking to your opinions regardless what it says in the transcript. that has no impact what i see on the market. stuart: isn't this evidence that the market is shrugging off impeachment? ashley: absolutely. stuart: shrugging off the
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transcript. ashley: gathered is breath, assessed the situation, then today, we stayed very muted. the results come now we're still muted. it was the china headline there on a deal coming sooner than you might think, that goosed the market. stuart: by the way, during our interview with martha maccallum there, and also i think with you, i think, ashley, on the left-hand side we had bernie sanders who is meeting with the striking workers at general motors. that was a little chaotic. now he is speaking with them. i hope his audio did not interfere with what martha maccallum was saying, no smoking gun. no quid pro quo. coming up in the neck hour, the left's war on the wealthy. bernie sanders, elizabeth warren, they're trying to outdo each other. how much they tax the rich. my take on that next. reaction from charles payne. he is here. >> what?
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stuart: we interrupted a commercial to listen to bernie sanders. >> all people, too many people are uninsured ornderinsured. the healthcare industry last year made $100 billion. >> any american senior or worse, some way to take your home. >> a lot of these people like it. stuart: grady trimble was in that scrum. he is with fox, identified as fox and he was pushed, shoved the. ashley: everyone will get the insurance they want and grady said what about people who like what they have now, pushed away and bernie walked away. stuart: didn't like the question and doesn't particularly like fox. that is par for the course.
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now this. the two far left democrat in the 2020 racer in a contest, who can tax the most, who can hand out the most, who has most contempt for capitalism? hard to say who is winning, warren or sanders or both upping the ante? look at bernie sanders's wealth tax plan? he starts confiscating 1% of your net worth annually. it goes up from there to 8% annually on $10 billion. he hits 180,000 and takes $4.3 trillion worth of money out of private hand and gives it to the government over ten years. elizabeth warren's plan is tame by comparison. he doesn't start taxing wealth until you are worth $50 million. she only hits 70,000 family and only confiscates $2.6 trillion. senator warren is playing catch-up.
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she is giving $2400, permanent annual benefit increase to all social security recipients. that is $150 billion giveaway every year. let's get back to bernie. something truly ominous in his plan. he wants a national wealth registry. you have to tell the government what you have got and where it is. that makes it easier to take more of it in the future, makes it difficult to maintain your financial privacy and there is a big exit tax if you want to leave the country with your money. this is a new area of taxation. on top of income taxes, capital gains taxes, property taxes, sales taxes etc.. if implemented it would seriously hurt the economy, damage capital investment and damage innovation but socialists don't care. they are always angry and never happy. that is the modern democrat
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party. still not over its defeat at the hands of a billionaire businessman. the third hour of the vigorously capitalist "varney and company" is about to begin. ♪ stuart: let's get straight at it and get reaction to my little rant. who better to respond than charles payne, the host of making money on this network. charles: the response has to be vigorous. stuart: what gets me is the national wealth registry. what is this? charles: i've got to tell you. i know you don't like it. the sanders stuff only matters in the sense that elizabeth warren is a juggernaut and some wall street folks are looking closely at her being the nominee and the implications of that. yesterday when she took the lead in new hampshire drug stocks got hammered. this is the minutia of the
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market, the message of the market is telling us and she is a juggernaut right now. if sanders were at some point to come out you assume she would get a majority of his voters. she is tough to deal with. stuart: i cannot see america electing a socialist as president of the united states. are you going to tell me tax the rich, higher income taxes, even tax the middle class, take away your private health insurance, that is going to fly? charles: she's not going to say she's going to take the middle class. bernie will say that but she won't. stephen colbert, no one can get her to say that. it starts like that. i caution anyone thinking about voting for her, that these taxes will only hurt the super wealthy, look at the alternative minimum tax, the history of that. go back to the late 60s. in article was written in the new york times or the journal, less than 100 families didn't pay federal income tax, the nation was in an uproar.
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washington dc went to action as we pass the alternative minimum tax. we will get those greedy you know what's. it wasn't inflation. a few decades later millions of americans paying the amc tax, and onerous tax that you couldn't stop it. stuart: you would think the same would hold true if bernie sanders or elizabeth warren, they say tax the rich. charles: you start with the rich but can't pay for the things they talk about paying by targeting the rich. you have to be creative. they are not just going to pack the rich and the middle class, they are going to try to find a way to usurp the federal reserve. how can we take control of that? stuart: precisely right. wrap it up for me. what impact on the economy, what impact on prosperity this massive tax increase went into effect? charles: it would have a massively negatively impact. americans are just now seeing
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what those tax cuts did for blue-collar workers. in the last year blue-collar wages have gone up significantly faster than anyone else's wages. nikes your stock of the day and it is a good one. my stock of the day has 400 manufacturing operations in america. blue-collar workers reported numbers last night, phenomenal numbers, raising guidance, the stock has been a juggernaut since donald trump was elected. so here is the thing. people who haven't been participating in the growth of our prosperity and there is a reason socialism sounds attractive. they are participating right now. to derail that would be a shame. stuart: would you mind if i switch subject entirely? charles: let's do it. stuart: you do welfare. i want to talk about skeleton going public this week. they are not profitable as i
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understand it. the bikes cost $2000, treadmills cost $4000 and then you are locked into a monthly payment system. i've got to worry about that. do you? charles: my goodness, yes. everyone is talking about we work. i flagged we work a few weeks ago when the ceo sold $700 million of his own stock because that was a red flag reminiscent of the peak of the tech bubble. stuart: $700 million of his own stock. i didn't catch that. before he has been taking loans but listen. the peak of the tech bubble, this is what i think was the peak. a company called world online went public, a european comedy, the biggest tech ipo in history. david brinks had a big party, everyone celebrating and someone's is what are you going to do now that you are rich? already sold it. she had sold it all to banks before the ipo. i feel like that was the
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beginning, that was an epiphany, that became a groundswell. everyone felt the word sucker was written on top of their 4 heads. that was the beginning of the end of the tech rally. i'm not saying that is happening this time, look what happened to all the hot ipos in the last couple weeks. there has been a change of heart for a lot of them. they are getting absolutely crushed. stuart: this man does his homework. his name is charles payne. i've got to get more from you in a moment. let me talk about juul. kevin burns says he is stepping down and they are ending all advertising in the united states. tell me more. >> kevin burns is stepping down. a tobacco company that had a stake in them is ending merger talks. this shows this company is in fact in chaos. there is no other way to say it. the trump administration had gone forward with this ban on
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most flavored e-cigarette juul estimates sales would have been reduced by 80%. you can't survive like that is a business. this company now in crisis. it has been targeted for the way it advertised its product. they were targeted by the fda, by numerous state attorneys general, as you can't advertise that this is safer than smoking, you don't know this especially with 7 teenagers dead, many more second, nobody knowing the cause, juul's ceo in his defense did back a 21-year-old purchasing limit. he said i am okay with that. he did pull out all of the advertising and labeling. too much pressure. stuart: i am sorry to say this looks like bad news. may be the end of juul. these devices got addicted to vapeing but you are away from smoking which is more
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dangerous. charles: a week ago, last monday the health minister of the united kingdom advocated for vapeing. if you look at the dramatic reduction in adult smoking this is saving a lot of lives. in america it is about libertarianism. obviously you don't want cherry flavored and mint flavored stuff deliberately targeting kids but an adult who is addicted to cigarettes, be allowed to have an alternative. >> some kids were putting marijuana-based products in and that is part of it which juul never intended to be used as such but it became a vehicle to distribute those products. charles: those flavored, 80% of their business. >> caramel, peppermint. stuart: stock of the day, sorry to interrupt but i've got to get this in, nike, the stock is up 5% last time i saw it, strong sales. what do you make of that? good news indeed.
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ashley: charles: there are several narratives that you had at the beginning of the show. at the beginning of the trade war we were told the chinese were going to take it out on american brands and last month what have we heard? we heard starbucks say chinese consumers can't get enough of our coffee. starbucks ghost one all-time high. we hear tiffany say the chinese consumer love our products, the stock rebound out of a death spiral. cosco opened their first door in china. mobs of people. yesterday, last night we hear china, 27% growth in china. not just china. asia-pacific 13%, europe and middle east africa, america 4%. you can argue they've gotten too political in america and that is why they can't keep up with the rest of the world, certainly the chinese love american brands as the rest of the world. stuart: i watching you at 2:00 on the foxbusiness network. charles: i will be vigorous.
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stuart: grady trimble was in the covered as bernie sanders met with the uaw people in the gm strike. grady got shoved when he tried to ask bernie a question. we found that for you and we are going to play it for you in a moment. the transcript of the president's phone call with you crane's president is out. i don't see a smoking gun, neither does the market. we are all over this, the third hour of varney just getting rolling. ♪
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to see you. i didn't see a smoking gun in a transcript and i didn't see a quid pro quo. did you? professor dershowitz, i can hear you tapping on a typewriter. can you hear me? >> i hear you fine. stuart: i am sorry about that. my question is this. i saw the transcript which i did not see a smoking gun. i did not see a print quote did you? >> i did not see an impeachable crime or any indictable crime. what i saw is some pretty rough politics. the answer to that is let the other side play rough politics. in the end this will be a political tie. it will dirty the biden camp a little bit, there will be some americans who will say the president shouldn't have made
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that call but it doesn't belong in congress in the impeachment inquiry or the justice department. it is not a crime, high or otherwise. stuart: how does the end of? speaker pelosi will press ahead with this official impeachment inquiry. where does it end up? what is the end game? >> i think it backfires on a democrat. i am a democrat so i hate to see the party i voted for for years hurting their chances but i think it is going to hurt their chances. the american public is not in favor of impeachment. impeachment is a mechanism of last resort. it requires bipartisan support to succeed. the only president who has been removed via and impeachment threat has been next and the reason he was removed is republicans started turning against him. in this case it is going to backfire on the democrats, particularly in swing state democrat whose constituents are
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very much against impeachment and they have to vote now because nancy pelosi is pulling him out from where they have been hiding and saying essentially you have to cast a vote and that is not going to make her popular with people at the center of the party. it will make are popular with people at the left of the party and it is part of the drift of the democratic party leftward and the increasing influence of so-called progressives who i call represses or regressive's, people who don't favor free speech or due process or basic american values. this is very political. stuart: just not your father's democrat party. or your grandfather's. >> not even mine these days. stuart: it was a pleasure having you on the show, thank you for scrambling to be with us at short notice. we have been looking all morning for reaction to the release of the transcript. the first reaction came from hillary clinton in a tweet. she was -- this followed the ukraine transcript release. the president of the united states has betrayed our country.
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that is not a political statement. it is a harsh reality. we must act. he is a clear and present danger to the things that keep us strong and free. i support impeachment. kelly sadler is with us, american action pack and special assistant to the president. i want you if you would react to hillary clinton. >> to hillary clinton, really rich coming from her. one of the things the president did request in this transcript was for the ukrainian government to look into 2016 election interference. if you were member of politico story that broke where the dnc was working with the ukrainian government to dig up dirt on paul manafort and how hillary clinton was benefiting from this foreign intelligence so that is really rich from hillary clinton. i suspect we will hear a lot more about the ukrainian government's involvement in the 2016 election. john durham is the united states attorney, currently
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brought them into his fold and his investigation with the fbi, what they are doing during that time. stuart: you run a pack. are you going to raise money on the basis of this impeachment attempt i the democrats? >> we saw the rnc, they raised $1 million in 24 hours since nancy pelosi brought the announcement yesterday. we are a pack, a little different, we court million and billionaires and none of this phases them. what phases them is socialist policies coming from the left scares them to death and is driving them to us. stuart: we just got the wealth tax plan from bernie sanders, the wealth tax plan from elizabeth warren. you've got to be raising money on that. if you go to millionaires and billionaires, just wave the red flag in their face and he will make the money here. >> we don't need to wave it in their face, they are running to us. as more of these policy
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proposals are coming out, wall street is shaking their heads like we can't have this. giving corporate governance, the public, not our shareholders, what is this about? basically an assault, an affront on the capitalist system moving to a socialist revolution and if it is something wall street is scared of a lot of people who build their businesses from scratch and worried they are going to be ripped out, they are very afraid of. stuart: i can tell you are feeling good about that. i can just tell. you have a smile on your face lighting up the screen. kelly sadler, thank you very much, see you soon. big news here, we found the tape. grady trimble in the sick of it with bernie sanders on the uaw pick up time, he got shoved when he tried to ask bernie a question. we have that for you. ♪ devices are like doorways
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striking gm workers in hamtramck, michigan. grady trimble was there and he is with us now. what's this about you getting shoved? >> reporter: it was so chaotic i barely knew it happened but this is the largest, rowdy asked crowd we have seen since the strike started but when the senator pulled up he walked among the picketers and circled a few times. i had questions i wanted to ask him so i tried to move in and ask the question and he was surrounded by union members trying to keep the media away, to stop is asking those questions as well as police and it looked like private security and that is when the push happened. here is the tape. >> back it up, watch out. move out of the way. >> can you respond to that briefly? >> i'm trying to get out. >> reporter: he did respond to
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my question but it wasn't much substance was what i wanted to know was a lot of these workers like their healthcare that is sponsored by gm and gm pays a large portion of it. under the senator's medicare for all plan, that would go away. they would have to sign up for the government plan. i asked him about that but he didn't directly answer the question. it is still something we are wondering, what would happen to the workers who like their healthcare plan provided by the company. stuart: good question to ask. i wondered if you were shoved because i can see fox, a big sign on your microphone and fox is probably not popular with bernie sanders. we are glad you are okay and glad you escaped. looks like you are in good shape. >> reporter: doing all right. stuart: with impeachment fever sweeping through the democrats on capitol hill will congress get anything done at all? we will talk to a nebraska senator, deb fisher, about that, after this. at fidelity, we believe your money
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callers released the market is sharply higher, in part because of what donald trump said about a trade deal with china and he said it in passing, answering questions from a journalist, a raucous, chaotic event. i don't know what the question was but his response was this. we could see a deal happen with china sooner than you think. at that moment, straight up at that moment was we actually went to a gain of 160. now we are up 140 points. if you check the key market sectors i think you will see a lot of big-name stocks on the upside, big-name tech almost all of it higher, trade related companies doing very well. nike is doing well up 5%, they had good sales figures in china against the odds. we thought they were going against american products. not so. nike did well.
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that is good stuff and we are up 138 points. i've got more news out of the un general assembly. the iranian president accusing the us of, quote, merciless economic terrorism and international piracy. kind of ironic. >> don't know if these comments are moving the oil market but oil and natural gas are moving lower but these meetings are happening, tons of world leaders, what better place and to make extreme statements. ashley: rouhani says we never negotiate under pressure and to resume negotiations, and lift sanctions? not going to happen. stuart: on the left-hand side of the screen. donald trump is not biting on
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this. he is not going to turn around and say look out for the military, not saying that at all and that is why the price of oil is down. $55 a barrel. ashley: and we have more in storage than we thought. stuart: i'm hopeful gasoline will come down. >> it is one of oversupply, the us for all intents and purposes is energy independence, you speak to any commodity trader, the story is i don't want to say too much but what we need. stuart: we should make a point that 5 years ago if you had rouhani saying things like that having just attacked saudi arabia for price of oil will be $100 a barrel. the price of gasoline will be $5 a gallon. but thanks to the american trackers flooding the market with our crude oil we are not held hostage anymore.
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these impeachment proceedings against the president are going to take up six congressional committees. that ties up congress making it very very difficult to get anything done including us mca, the new trade agreement with mexico and canada. senator deb fisher, republican from nebraska is with us now. thank you for being on the program today. i know nebraska is a big farm state. i regret to say that but the us mca will be good for your farmers and of democrats tie us up, you are not going to get it. >> we better get it. this is a good deal, us mca was negotiated very well by the
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administration and also manufacturers. it is good for working men and women. nancy pelosi needs to put this up. we have the votes to get it passed and it needs to happen soon. stuart: will she play a political price in your state if she does not put it up for a vote? >> we are a pretty republican state in nebraska but i think all people are watching leadership now, watching the president, watching the house, watching the senate. they want to know who is working for them and i think republicans have a good case that we are working for americans, for the working men and women in this country. stuart: earlier today donald trump and i'm pretty much directly quoting here talking about a china trade deal. that deal, he said, could happen sooner than you think. that helped the stock market. are you more hopeful because nebraska, you have good stuff to sell to china. >> we have great stuff to sell to china. the soybean market has really been hit because of the trade with china. for the president to say that we are getting close to a deal
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i am hopeful but i want to see it happen. we need to see it happen. us mca has to work. we have good trade with our beef products, with japan, we are looking at opening markets in europe and to get the chinese market back would be fantastic. stuart: what do you think of impeachment? any chance? >> i haven't been any facts. we saw the release of the transcript, as the president portrayed it. i think democrats jumped with both feet into impeachment on what their hope would be. we need to see facts. i am waiting for the intelligence committee to do their work on it, to see what else, if there is anything coming. the transcript that was released today, the call with the president and the president of ukraine, there wasn't any smoking gun in that.
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stuart: senator deb fisher and, republican nebraska, it is a great farm state. thanks for joining us. we appreciate it. have a look. it is down 7%. it is an online dating apps. it is being sued by the ftc, down 7%. >> they were using fake love interest ads. if you were not a subscriber -- this company match, tinder, cupid, they would send you a note and say -- you go to click on that and it would encourage you to sign up. the more subscribers they have the better their business model looks but there was no real person. they were creating that and sending it to try to get you to sign up. they did that and ftc said they essentially have exposed consumers to risk of fraud and engaging in unfair practices. that's why stock is down today.
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stuart: engaging in unfair practices is an understatement. it is baiting with a falsehood in my personal opinion. i am not on the side by the way. a little bit past noon today the president will meet japan's prime minister, shinzo abe after the foreign minister said a trade deal with the us was right on track. we are looking ahead to that meeting next. ♪ it's not "pretty good or nothing." it's not "acceptable or nothing." and it's definitely not "close enough or nothing."
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media determined their mission, take out the president. the fact is the president wants to fight the corruption, biden, clintons a radical politicians abuse their power for personal gain for decades. the facts prove the president did nothing wrong. this is another hoax, democrats and the media contributing to the landslide reelection of donald trump in 2020. stuart: we are getting reaction coming in from the democrat side of the house as well. looks to me as a first look at this but they are circling the wagons around the impeachment drive. they have steny hoyer who originally said and impeachment would jeopardize the democrat house majority. he told our own producer, quote, this is not a risk assessment, not a question of risk. it is the question of duty. that sounds like a reversal
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from steny hoyer's previous position, he had previously been opposed to impeachment on the grounds you do that and you lose your house majority. now he is saying wait a minute. it is a duty. sound like it is a duty to go forward with impeachment. i still think -- ashley: circling the wagons. >> now that they made this step they have to commit but a lot of democratic strategists point out they didn't want this. the american people have no appetite for this kind of circus and they don't want it. in some cases i've seen some democrats say this is going to help donald trump's reelection. stuart: you seen democrats are acting like this today? >> not after the release of the transcript, that was yesterday. stuart: suppose you are a middle of the road moderate
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democrat elected in 2018 from a district that previously voted for donald trump. what are you going to do now? if you want to go forward with impeachment the house has to vote. which way will you vote as a moderate democrat, voting to impeach the president when there is no smoking gun, no quid pro quo, he is just a nasty guy. does that fly in your home district? ashley: i don't think so. it does fire up donald trump's base even more. >> and the narrative of lawmakers wasting american taxpayer money. stuart: absolutely. what an interesting situation. we live in interesting times. donald trump moves the market when he said this about china trade earlier today. >> china is behind us and they will never catch us if we have smart leadership, way behind. we picked up trillions of dollars and they lost trillions of dollars and they want to make a deal very badly. it could happen. stuart: it could happen, could happen sooner than you think.
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a little drowned out by the chaotic media but that is what he said and that did move the market. that is china. next, japan. donald trump met -- set to meet with shinzo abe at the top of the hour. this should be coming out of this affirm trade deal. edward lawrence is our guy in dc. will this be good for our farmers? i am told it is. >> very good for the farmers, the japanese foreign minister said they are going to have a good ceremony on wednesday to talk about a completed trade deal with japan. all things looking favorable. japan was concerned about auto tariffs. they want a guarantee from the united states that they wouldn't impose auto tariffs on japan. that hurdle has been crossed, we are hearing the deal is complete and there is a, quote, good ceremony on friday. this is good for farmers. it puts their tariffs on the same level as other countries
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in the tpp which is what we backed out of last year. the tariff levels come down, put our farmers on a level playing field with the rest of the eu as well as china and other countries, asian countries in getting our imports into japan. it is also digital trade, manufacturing. this will be a comprehensive deal which us trade representative robert lighthizer has been working on. stuart: farmers are looking pretty good. we had the report from reuters that china had bought 600,000 tons of american soybeans if we now add-on extra produce sold in japan. i think the farmers are beginning to look good out of this. >> new numbers about imports in china came out and saw the soybean imports from the united states went up 6 fold, six times in august from the year before, the oil feet imports in
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august up 84% so it does seem china has started to make those purchases again, farmers starting to sell and move their product. stuart: edward lawrence, we will see you again soon. let's get to the release of the transcripts, the president's phone call with ukraine's president. you are on the president that legal team, thanks for joining us. i have been saying there is no smoking gun and now quid pro quo. is that how you see it? >> exactly. that is i read this 5 page transcript, unredacted, so transparent, democrats may be shocked because they are used to the obama years and now you have a president who again, no other president would likely do this even under this pressure because again the foreign relations issues, he wants to be very transparent with people especially after the stunned the democrats pulled with the
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ridiculous impeachment inquiry even though they didn't start and impeachment inquiry because that takes a house a vote to start and they don't have votes for that. when i read this it is five pages and there are more documents talking about the whistleblower and putting it all together and see the full picture but what speaks out to me, number one, there is no quid pro quo here. the president mentioning three times, biden three times, focusing on his son and the fact that joe biden was bragging about getting the prosecutor fired. he was inaccurate about getting them off the investigation but he was bragging about getting the prosecutor fired who was investigating his son and on the ukrainian board and the money that is helping.
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stuart: it seems two pandora's boxes were opened with this transcript. pandora's fox number one the president refers not directly but to russia russia russia, ukraine's part in the 2016 election. that box is partially open and joe biden, hunter biden box, that has been opened too because that is the focus of the call. what do you make of this? >> this was a, crowd strike went to servers hacked by russia to utilize this hacking of the dnc and getting information for law enforcement officials but the second on the biden issue. he's not saying if you go after joe biden you are not getting aid, the whole story we were being told leading up to this that there were hundreds of millions of dollars in aid riding on whether this president in this phone call,
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president the linsky was going to say we will go after joe biden and reopen the investigation of his son to get that aid. there was no threat of that. that is the take away. you can talk about crowd strength or biden is mentioned but it is really focused on his son and there is no quid pro quo. the president isn't saying if you don't do this you are not getting for any package which is the opposite of what we heard from the democrats and the whole basis which was why i think dumb of them to have nancy pelosi come out yesterday and started this. before the american people read this and realize the president wasn't making a threat here, the president wasn't holding a paid on this. this was a normal phone call. they discussed some items and moving on and that is how the president talks. stuart: i have to tell you in my studio i have monitor screens showing me what is
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going on competing news channels and i see looks of exasperation, desperation, horror on the look of some of the anchors who are trying to make something out of this transcript and failing miserably. thank you for being with us, appreciate you jumping on this. thank you. >> i have a new book out, the next red way. we talk about how this is going to keep happening to donald trump with a deep state, people should check it out. stuart: thank you very much. as we wait for the president and his meeting with shinzo abe the markets are up despite the political noise i will describe as that, we have a triple digit rally and more varney coming up. ♪ ♪ higher and higher ♪ i said your love ♪ tv announcer: it's just as powerful as the lexus rx...
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the flavored cigarettes, they are considering that but the fda says a lot of people in the news got the messages mixed. they've not made that decision. what they are doing if you are a retailer and selling e-cigarette to someone under 21 you will be find. they are going to be more muscular on enforcing that part of the law and they said a clear warning yet again to juul saying clean up your marketing. juul was using make the switch implying e-cigarettes were healthier. they are focused on the marketing, focused on the retailers and for the moment that is it. stuart: back to bernie sanders's war on wealth and the tax plan, very wealthy people would pan enormous amount of many, particularly jeff bezos, one of the wealthiest people in the world. give me the number. >> he would pay $9 billion in taxes every year. more taxes under bernie's tax
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wealth registry. bill gates $8.6 billion. warren buffett $6.6 billion. crank out the checkbook and write that big check. he is always complaining his secretary pays more in taxes than he does, not under bernie's plan. you can write that check right now. that is a lot of money. stuart: national wealth registry has me really worried, they want to know what you have got, where is it, take more of it. ashley: we are talking art and jewelry. stuart: if i own $100 billion worth of microsoft on january 1st and it is $150 billion on december -- what am i tax on? >> value changes all the time. stuart: art, value at the end of the year i will be selling big time by the end, get that price down. 12:00 noon the president will meet with japan's shinzo abe.
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despite the political noise we have a triple digit rally on wall street. more varney after this. ♪ . . aetna takes a total approach to your health and wellness with medicare advantage plans designed for the whole you - body, mind and spirit. that means aetna is helping you get ready to be the best grandmother the world has ever known.
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stuart: what a day. let me go through with you for the last three hours. we opened the market at 9:30 this morning. the market went up. it came down a little bit. and then at 10:00 we got details what was in the phone call between the president and the president of ukraine. no smoking gun, no quid pro quo. the market starts to go up quite nicely. then just a few minutes, about a half hour ago i guess you would call it the president launched into a discussion of the china trade deal. it was brief, i got to admit but he did say the deal could happen sooner than you think. he was kind of emphatic about it. at that moment up went the
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market. that is where we're holding. we have a gain of about 140 point. literally moments from now we have a meeting between the president and shinzo abe of japan and we're confidentially expecting a trade deal! how about that? all right? neil it is yours. neil: thank you. what you think for the president of the united states this is continuing a economic juggernaut. he is the chief architect that is it how he is viewed. much like during the bill clinton mess if it ever gets that far it, helped a strong market and a strong economically recover adding millions of jobs, that was a backstop that stopped much momentum for the house calling for impeachment and the senate not. that is kind of workings here.
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