all right that will do it for us today. have a great weekend everybody. stuart taken away. stuart: good morning, everyone. if you are interested in politics and money, last night democrat debate was right up your street. you probably did not stay up to watch it all but we did. some of what we saw was lol material. job itejoe biden said the middls is getting crushed. does that stand up, i don't think so.

so warren was asked for a trillion dollar was thoughtful growth, she said no, the columns have it all wrong. the financial highlight of the night, and nasty spat about mayor pete holding a fundraiser in a wine cave. if this was a democrat trumps world beating economy, it was not convincing. you will hear more from the debate throughout the show. going to get to the market, a terrific year in the bull run is still going. more new highs expected today, 2019, what a year. the dow will be up 40 at the opening bell, four and the s&p and the nasdaq keeps on going up 22 at the opening bell. then, impeachment, a new twist this morning, speaker pelosi delayed getting the articles of impeachment to the senate and a harvard professor who was a democrat witness in the hearing says until the articles are delivered, mr. trump has not been impeached. the house has left town, won't be back until next year, as of now the impeachment is in limbo. how about that. "varney & company", the friday

edition is about to begin ♪ ♪ >> i don't think they like the economeconomy, go back and talke neighbors and middle class to grow up and. the middle class is getting killed and crushed. the working class has no up as a consequence of that. stuart: the middle class is getting killed, crushed. he was taking direct at the successful trouble economy last night. tammy bruce is with us. the middle class is getting crushed, at some point this extreme spin looks ridiculous. >> it does. everybody is doing better in each of our lives are different so somebody life might be on a slower track but the fact of the matter is, it is undeniable when

we look at the dynamic. i'll give you numbers, facts, not just about antidotes, the lies that he said, we now have the median household income at $65976. an all-time high, and was up more than 8% this year alone under the truck presidency. also the rate of workers quitting a job is also at a 20 year high. and these are people who quit their jobs because are getting a better one. these are jobs, manufacturing, construction, these are not to jobs delivering pizza. maybe mr. biden is thinking he's the vice president and insult obama era when the middle class was in fact being crushed. stuart: it was actually losing ground. >> and when you look from the bush presidency to eliminate part of the recession he inherited for the first six month of his term to the obama presidency to the trump presidency, that wages and

income have risen in multiple times higher. you have a history when you look at the policy of the president trump has made a huge difference for everyone regardless of your status in life. everyone's lives are better. stuart: stay there we have more from you. i want to bring in jonathan the market water of the moment. you heard what mr. biden had to say, it seems like you stressing feelings as opposed to facts, that could be good politics. >> politics but not economics and not reality. facts are stubborn things, as tammy alluded to, when everything of trump personally he has presided over an historic economic run, tremendously low unemployment and stock market does not want to seem to go down since the market broke out in october a new all-time high almost every other day. these are amazing numbers and joe biden wishes he had during his ministration during the obama years. all they have to run on is the

notion of inequality the rich have it so good and the poor don't have it so good. but in america our freedom has led to prosperity for everyone even the so-called worse off in the incomes are starting to rise under president trump. stuart: we have a trump tweet coming out of, i will be signing 738 billion-dollar defense spending bill today it will include 12 weeks paid parental leave and gives troops a raise, and partly creates the space force, southern border wall funding with cadillac tax on health plans raises smoking age to 21. big. as i mentioned at the top of the hour, let's go back to the debate. a nasty spat about mayor pete holding a fundraiser and a wine cave. >> the mayor just recently had a fundraiser that withhel was hela

wine cave full of crystals and sold 900-dollar a bottle wine. billionaires in a wine cave should not pick the next president of the united states. [cheering] >> according to forbes magazine i'm literally the only person on the stage who is not a millionaire or billionaire. [cheering] this is important. this is the problem with issuing purity test you cannot yourself pass. >> this is attempt to create classwork, it's fascinating. he is bragging about not being as successful as everyone else. that is the guy we should put into the white house. the guy who is not doing as well as anybody else. there is nothing wrong with being successful. i want to be the guy that just won the lottery that got $370 million, maybe a young woman, i don't know. but we want to have as much money as possible, this country

allows not and for some people you do not want to be a millionaire you just want to have enough money to travel and have your kids in a safe area and a safe neighborhood. it will be the people who decide the selection, every individual has to vote and if pete buttigieg wants to have a nice dinner with people who have money, that's great because small donors are donating to. stuart: before we say goodbye to jonathan, put him back on camera. i want to thank you for the christmas present which arrived. this is a stack of fake 100-dollar bills. [laughter] >> don't spend all at once. stuart: we are coming back to you in a second jonathan. the stock is down, this is premarket sales down in north -- i should say sales missed the mark, this is the expectation, they missed expectation by tiny fraction. who were banned in germany again, one problem it did not

own a car license itself required in germany, no impact on the stark market up 15 pic 1. tesla writing really high, well above 400 bucks a share. he says it is going to go even further, it has room to grow. the last time he was on the show with us he said apple goes to 350, he is on the show again today and he says it is going to 370. back with a whole lot more, grady trimble is with us in chicago, apple has a secret team working on satellites. tell me more. >> there working on satellite and other wireless technology according to bloomberg and the goal is to find new ways to beam data like internet directly to your devices and link other devices without a wireless network, according to the article the plan is to have this program up and running within the next five years and it's

significant because it makes apple far less dependent on traditional wireless carriers. it is still early on, it's a costly endeavor, according to the article apple could abandon it. imagine if apple fills the devices and controls the data on the devices. stuart: you cannot see it but on the other side of the screen we have apple stock performance this calendar year, amazingly it's up 77%. i find that incredible. the next one is amazon, new reports says it's delivering more of the u.s. orders then ups, the postal service and fedex combined. >> this is amazing, amazon delivering half of its packages and delist six division. use the amazon brand advance, they are bringing all the delivery in house so it's cheaper for them. if you're a shareholder of fedex or ups amazon is going to be in

direct competition with them. they have amazon shipping and this is what they did with cloud, they developed internally to solve an internal problem or challenge and now cloud is basically the majority of revenue and analysts are saying shipping will be another growth area for amazon. stuart: amazon is taking over shipping. jonathan come back again soon. >> don't you wish amazon would go into every industry. same day shipping, they are changing everything even drones. here's an idea for amazon, by the post office, by the u.s. post office, money for the government and can you imagine what amazon would do to reform and improve the state organization. stuart: dream on. but it's a great idea. happy holidays to you. look at boeing, the spacecraft launched this morning did hit a snag, nasa is holding a news conference right now.

what was the launch all about. >> this was the final test before the star liner spacecraft was going to take next year end i think clear to do that. they were going to celebrate a little after 6:30 a.m., the rocket took off and everything was good for at least the first half an hour but after 15 minutes it detached on the rocket as it was supposed to do and then there's a burn on the back in the correct orbit with the space station. that burner never triggered so now it's on a road orbit and nasa says it is stable and they're trying to figure out now how to kick it back onto the correct orbit. they called for a 9:00 a.m. press conference and will get a better idea of what they're planning to do. stuart: we have gone up a little bit more, we are up by 50 points

for the dow, five for the s&p, 20 for the nasdaq and were going up again at the opening bell. yesterday new jersey representative jumped ship, joined the republican party. he placed his undying support for the president. now the trump reelection campaign has launched the democrat for trump coalition. we have a number for you, $20.6 million, that's how much the republican national committee has raised in the month of november, it's a record, they will use the money to get democrats or try to get them on their side. it is christmas, next week, i'm hearing secular music everywhere, even in the elevator with elevator music. next hour all asked jonathan about the music at christmas time. i want the religious stuff. more "varney" after this. ♪

♪

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stuart: president trump welcome new jersey democrat jeff van

drew to the republican party yesterday. he jumped ship. >> he had a history of bucking positions with democrats taking the impeachment vote for president trump, this is good optics. he welcomed the lawmaker into the republican party. take a listen. >> jeff van drew highly respected will be joining the republican party. we were very fortunate, it was about ten years since the has happened, he knows is awkward to be the minority for long. we have a feeling we will do very well in 2020. you have my untiring support always. stuart: undying support always. because democrats are saying they are pushing whether he could win a second race as a democrat to put cold water on it. good optics for the president. >> the trump reelection campaign has launched the democrats for

trump coalition. >> for everyone who feels abandoned by socialist radicalization of their party there is room for you on team trump. that is coming from the campaign manager, he made that statement. another statement to the left-wing rattl radical has seie democrat party and people say no room for moderate democrats, some people -- they say join us. stuart: meanwhile the public and national committee is using impeachment to bring in money. a lot of money we understand. tell us how much. >> we just reported 20.6 million for november which is an all-time record the rnc has never raised this much money heading into a presidential election. in the past 48 hours we raise $10 million between the trump campaign and rnc.

donors, small dollar donors, people are enthusiastic about this president and angry of what democrats are doing and showing with her pocketbook. >> have you open new online donors, i think new accounts like a small donor but heavy open new ones? >> sent the impeachment sham began, we added 600,000 new small online donors which is unprecedented. you don't see that type of growth. it means people are angry, they are passionate, they know the economy is doing well, they know the president is fighting for them and they're getting out there pocketbook and say we want to reelect president trump and congress does not take away our boat. stuart: was it the impeachment the fired up the voters. >> absolutely. the american people, many of the trump voters feel like they're being impeached to. that washington and the establishment is saying you got it wrong, were smarter than you so we will use the power of congress, we will abuse it and nullify the election of 2016.

they have always been an investigation and search of a crime, they been talking about impeachment since day one. stuart: the impeachment is delayed, it seems is in limbo. we have the harvard professor saying he is not being impeached because the articles of impeachment have not gone to the senate. he is not impeached until they do. >> here's the thing, nancy pelosi said it's a clear and present danger we need to hurry and make sure we get this done quickly because the president is a threat to our country. then she passed and said no i will sit on it. she is putting our country in limbo, she has not put the articles of impeachment through to the senate. i think she's getting cold feet because she knows it's going to fail and she knows it is wrong and she seen the american people are more and more against this so she is going to make his way through the holidays. it shows how serious she is taking the whole process. stuart: i cannot wait for the trump tweets about speaker pelosi, the delay in impeachment and limbo. i cannot wait.

thank you very much for joining us. merry christmas and happy holidays. >> thank you for having me. stuart: take a look at futures, we open the market in ten minutes time we are going up again, throughout the morning we have seen features get more and more rosy looking, now we will be up over 60 points for the dow, over six on the s&p and 25 on the nasdaq. the rally continues. nike down, despite nearly 4 billion-dollar in sales and one quarter, nike water coming up on the show, she says the reaction which is a downside move for the stock weight over blowing, she will make her case after this. e phone company. but to businesses, we're a reliable partner. we keep companies ready for what's next. (man) we weave security into their business. (second man) virtualize their operations. (woman) and build ai customer experiences. (second woman) we also keep them ready for the next big opportunity. like 5g.

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>> i agree, it's angels dancing on the head of a pin, what do you want for my life. i think it was fantastic. stuart: you think nike has a ways to go on the upside because it's a strong company in a strong position? >> i do, the stock i believe was up 36% for the year, it had a great run but i think has a lot more room to go. they're investing heavily in their digital business and becoming an ecosystem as well. stuart: how does that work? >> how does that work, they invested heavily with their sneakers app for all the sneaker heads, they were to be asked daily looking for the next to drop a product. in addition, there very strong falling with her nigh nike appae fit app, scan your foot in store or wherever you are for a better chance of finding the proper fitting nike. stuart: it's a whole new world and i'm not sure i understand but you do and that was good

stuff. have a great holiday. thank you very much for being with us. cutting that short because look at futures now. we just keep on going up. now were up over 80 points for the dow, up over eight for the s&p, up over 30 for the nasdaq. what will stop this thing. it is a rally and we will be back to cover it after this. ♪

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stuart: were about to start trading this friday morning, before we start the trading, we will have a rally, the rally rolls on. it's extraordinary. >> all the conditions are in place, low interest rates and the solid gdp number, earnings will be up in 2020, and it looks like we have success on the trade. stuart: is that right, look at that, this is an expose of raleigh, right from the get-go, friday morning all of them are up except for one nike, nike is only loser of the dow 30 and right now the dow was up 180-point, 160 right from the get go. were bouncing around. >> the fourth straight week of gains for the s&p 500, this

would be the seventh consecutive day of nasdaq records. stuart: we have seen the dow up 130, show me the s&p, that is up 16, half a percentage point up, show me the nasdaq, i'm sure that's up significantly about a third of a point. not as strong as s&p, were showing you nike again sales, volume in north america missed the expectation. the thing is down 30 cents. apple, a secret team working on data satellite, the market like that amongst other things for apple, 282 as we speak. that's an all-time high. microsoft 157, that's an all-time high. watch the market go, this is spectacular. the bulls on wall street really allowed these days, wells fargo however, says there may be a 10% market correction coming in the new year.

okay. >> here's the thing, just four months ago we were worried about a recession but now the ten year treasury goes up the recession risk is further away and that's only strong market perception and were not seen a. stuart: i happen to think that there will be at some point a 10% correction. >> after an 11 year bull run, and an explosive year end rally like this, i think everybody should expect a nasty shock. just profit-taking. >> there will be some kind of action maybe rates rise or something, i don't know, something tips the market. >> they also say they would buy on the weakness. so the correction is coming and they advised to buy on the weakness. stuart: is not a bearish view, it's obvious, buy into the

obvious. amazon, i cannot believe this, there is a report that says they are delivering more than u.s. orders more than amazon then ups and postal service combined. they're winning another industry. >> they deliver 3.5 packages this year, ups delivers five-point to billion but they have been in business for 112 years. they're winning the war, the question is is that a good thing, two issues, one is a potential unionization of the duopoly. there's more and more concerns of the treatment of the worker and liability, they're trying to solve it by outsourcing to third parties but they told the third parties how to do it and if something goes wrong you say it's your problem not ours, how long will that continue. stuart: amazon stock is not recovered to the $1800 level. it is still $1794.

it is not the old high. at one time it was at $200,100. >> it has room to grow. brilliant execute right i want to leave it at that. dow industrials up 110 points. 28486. you're almost at 28500. a couple of individual stocks, will start with carnival cruise lines that canceled the first eight sailings of the mardi gras cruiseship, i have a delivery problem with the ship, the ship is up 4.5%. winnebago reported better profit and revenue, that is very interesting, that's basically a luxury company, a luxury item and shows you how well the economy is performing, a 52 week high for that stock and $53 a share up 10% for winnebago. 1.94% on the tenure trade, that is a bullish indicator.

gold, $1483 and out, not doing much, oil, $60 and staying right there. who werband in germany. >> yes they were banned back in 2016 and the judge and frankfurt said they have been acting as an intermediary. somebody orders and ube uber and they get a little bit of the action. the germans are among the most that hate uber. london banned them last month. [laughter] why would europeans not like american companies.

the competition does not like it, but the users love it because they're paying for it. stuart: may i point out, more importantly amazon i'm sorry, microsoft is now 157, the dow industrials are up 104 points, all-time high for microsoft, tesla all-time high, apple is at an all-time high, microsoft and all-time high, this is an externally market. here with his picks for the new year is david dietz. what do you like. >> we like cisco because they are the king of networking and equipment and putting chips and everything, you will need that. but on top of that, they're moving to software and service and so forth and getting the subscription revenue and helping copies migrate to the cloud but offering hybrid models. meanwhile you have a tech company that knows issued share its profits with the donors, dividend is close to 3% and returning half of the cash will.

stuart: cvs, do you like that. >> healthcare, unfortunately were spending more and more in this company is so central to what we need. 10000 drugstores "coast to coast" is better, he of the pharmacy benefit business which will be about 2 billion scripts this year end helps companies save and ultimately how will we pay for the healthcare cost, solutions, integrated into insurance. stuart: can you get this one in, do you like that for next year? >> energy has not done well but there is one company that has made things cheaper and more efficient, they have outperformed the industry over every single time . . . because then the r&d, research and development to make the process work. they know how to make money and they don't have all the capital tied up, it provides the services for oil drilling and so forth. stuart: microsoft is still there.

cisco, cvs and schlumberger. we want to look forward and not backwards. [laughter] stuart: i am not looking backwards, $157 on microsoft, that's extraordinary. apple at 282, 283. the dow up 100 points on this friday. just like that. i am blown away. thank you very much. it is 9:38 a.m. and we cut it off a little early but think you have a great holiday. the big board up 106 points, 28406. a couple of stories about data breaches. first one over 267 million facebook users have had their names and phone numbers leaked on the dark web. facebook and upmarket down a dollar this morning. it's at 205. more than 3000 owners of amazon ring doorbell have had their credit card information and

passwords leaked online. you just keep getting the endless stories of data breaches nonstop. here's another one, a convenience store chain says hackers may have collected debit and credit card information from thousands of their customers. we see that everyday. it goes on and on and on. we also have an update on robo call, the senate has approved a bill to stop them, i cannot wait for that. more varney after this. ♪

happening now on the other side of the pond the duke has been taken to the hospital buckingham palace is say he's been treating for a pre-existing condition celebrating his 98-year-old. the queen, 93 is on the way to

her counsel for the planned christmas festivities. more from britain, boris johnson brings a deal has cleared its first vote in parliament and he wants it passed by christmas and to be out of the io by december 31. he will do it. >> yes, finally after three and a half years no problem went through on 124 majority now they will vote on the timetable and come back after christmas to the put the wrapping and bows on it. he told the covenants that the oven is on and set to gas mark four, he said the oven was ready you just need to vote. he was carrying on the theme for three years. >> after three and half years, june 2016 they will make the generate 31st deadline and everyone can move on. stuart: he does remind you of president trump he expresses himself with a smile on his face.

>> he's very amusing and very likable. stuart: the dow, at an all-time high. apple, microsoft, procter & gamble, visa, united technologies, united health and nike is not hitting a record high now, but anyway, record highs across the board the dow is up 104, back to apple, arguably the stock of the year is up 77% in 2019. last time you were here you said apple has about some sort. we go to 350 on apple, what is your forecast now. >> i think this is 350 - 400.

i realize the stock is at all-time high but trades are rather depressed multiple to the other tech companies. essentially is not getting a fair treatment when it comes to evaluation. the simple reason, on the last decade investors in part with rim and nokia have been trained the hardware companies should trade at a lower multiple than other tech companies because her more susceptible to essentially vast down in the business pre-but what apple has proved in the last decade is hardware which is 53% of sales, services which is about 20%, the combination of those two ultimately drives incredible cash flow and if you look at the stocks combined in 2019 apple generated as much free cashel as all of them combine my point is this. this depressed multiple theory, the flat earth there's that ultimately see because there is a hardware component to apple business, it should trade at a lower multiple. my view investors should focus

on cash flow and ultimately what that can do to buybacks in that to me is the primary driver. if you ask where this can go, if you simply put on a multiple of facebook, that's a 31 multiple, that with the apple at $371. if you put all of this together, the way bester investor investoo more of a company of sympathy of products whether hardware, software, ultimately i think that will drive a much higher share price next year. stuart: we hear you. next case tesla, above $400 a share, i believe you think is still has room to go on the upside. is that correct? >> absolutely. this is an undeniable truth of electrification of vehicles.

there's also a huge short interest, 50% short interest on tesla. a typical stock has one or 2% short interest. if you think where this can go, this could be a 500-dollar plus stock in the next year. this is still controversial stock i love your take, we talked about in the future but this still has a lot of room upside in the next year. stuart: it's an amazing thing. last one, pellet on. i'm sorry i don't know whether you cover this or not but you've seen it being really depressed after the ad caused outrage, it has earnings, where do you think pellet tongue goes froinc.think. >> is a 9 billion market cap and cause 40%. i love the model, it's essentially the way we think about this, almost like drug

dealers when it comes to endorphins. they have a 1% share rate on a monthly basis that is one tenth of a subscription, this is a powerful business model is still really expensive, i think for the stock to go north of $9 billion it needs a 1000-dollar price point so i don't know if that's on the roadmap, the simple take away, nice business model and i'm thrilled they had a great success and see ipo but i think your money is in a much better place like apple and tesla. stuart: you have a great holiday. we appreciate it. see you in the new year. now this, my favorite story of the day, the senate approves the anti-robo call bill, legislation awaits president trump signature and i hope he signs it quickly. >> at least they are trying, this bill would force phone company to offer free call

blocking apps and verify that the number calling you is a real number, that is what fraudsters do they use fake number to look as they're coming from legitimate places from the irs or elsewhere to try and trick you, it's a huge problem every month and every day. the hardest thing is tracking the origin over these are coming from. most are offshore. so what they're doing is making the phone comedies pick up more of the slack in these tools if you like to try and stop them. it is very difficult on free speech. check out the dow, we have come back a little bit, we were up 200 now were up 90. but we still have 27 of the dow 30. on the upside this friday morning. installation of the star wars franchise, the rise of skywalker getting poor reviews.

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>> taking one last look at my friend. stuart: that was a clip from the new star wars mad movie which hs theaters today. tracy is outside the theater in new york, is it sold out for the first performance? >> there are performances all day long, i want to show you the crowds of people coming in for one of the screenings. this theater opened 24 hours, 45 moone45movie screenings and thet one will be at 3:30 a.m. a lot of people excited to see the skywalker saga wrap up the rise of skywalker coming out today. critic reviews have not been good but i spoke with fans who are here for the early morning show and they were so it start excited. they love the movie but they don't agree with the critics but they wrapped up the saga perfectly and paid respect to

the movie before. it's expected to get a lot busier. stuart: tracy, thank you very much. staying on this, bring in stephen kent the host of the star wars theme to podcast. here is my point, this franchise, the sell by date has come and gone on the star wars franchise. i think it is over. and you don't agree with me i'm sure. >> you know what, i might've changed my opinion in the past 24 hours but there is good and bad news for the rise of skywalker, the viewers like you said are panning this movie at levels we have not seen since 1999, it's sitting at 57% aggregate score deemed run. the good news i saw it for myself last night i'm a freethinker, and the cia might have access to a very effective and humane tool for enhanced

interrogation. we might win in the end. this is really bad for star wars. stuart: i don't get it cia has a new weapon. [laughter] watching this movie is torture? >> it is torture. it is not a good star wars movie. stuart: what is wrong with that? >> i sympathized for the folks waiting in line all night. i've done that for years but the fact of the matter they tried to make the movie for the star wars fans and they betrayed themselves on making something that has artistic integrity. it's unfortunate and it shows you what happens when a big company caves to mob rule and gives fans what they think they want. it ends up having no life to span on. stuart: what will happen to your podcast, don't you base yourself around star wars, have you gone out of business? >> we crawl into a hole and never come out again. star wars always has a future, its future is pivoting from the

big screen to television. disney has put all of its chip into disney+ like shows and they will try new things out to retort their future. star wars has been around for 42 years, an incredibly strong franchise and what they find out it's not clicking with young audience today. they need to try a new model which is why it's on hiatus for three years until a new movie will be discussed or worked on. stuart: you call me varney and i will call you kent. come again when the next star wars movie comes out. we appreciate you being with us. all week long we have been bringing you the best economic outlook. i want you to guess which is today's date. i have a clue for you, the state had the first ever kfc in the state is not kentucky. so those are a couple of hints of which is the top state when it comes to an economic outlook.

we will bring it to you later in the show. last night the democratic debate in california they took aim at the economy and if all they are going to do is talk down trump's booming economy i think they will lose big, my take on that coming up next. ollege. oh, that explains this. the nationwide dome. state-of-the-art venue. 80-yard screen. fantasy sports lounge. climate controlled seats. sushi bar. club level pool. really? lastly... retractable roof. whoa. touchdown! ... (man) we weave security into their business. (second man) virtualize their operations. (woman) and build ai customer experiences. (second woman) we also keep them ready for the next big opportunity.

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stuart: all right, it is 10:00 right here, it's friday. 10:00 here, 7:00 in california, and i think that we've got the latest read on consumer sentiment which is an important indicator, do we have it do we have it? ashley: we do it's 88.9 which is a significant drop when you consider that that's a good 11 points or close to 11 points down from what we were hoping for, and over the past three years we've averaged a 97, so an 88.9 is a big drop in consumer sentiment. stuart: that was the month of november? ashley: that was december. stuart: that's a big drop. ashley: it's a big, big drop. final december number. stuart: drop in consumer

confidence just reported a significant drop. ashley: no we're updating because i thought that was not right. 99.3 which is right around where we expected, forget everything. stuart: [laughter] ashley: so that's actually very strong and what's interesting about it was i've made this note that they ask all these people how they feel about their position now and the future only 1% out of all of those asked even mentioned the word impeachment. wasn't a factor they would continue to spend money. stuart: we also got consumer spending numbers up .4% and that is strong, that's just a one- month tally that's november so look at the big board we're responding to all of this news there is no real response actually because the market hasn't moved, we're still in the bull run, the dow industrials fill up over 100 points at 28, 483. can you believe? now this. spin is part of politics.

put a favorable spin on the facts to get elected. that's understood. that's how it works, but there are times when the spin is so contrary to the facts that it looks and sounds like nonsense. last night at the democrat debate the spin on the economy was really spectacular and the leading candidate, joe biden made statements which just don't stand up. the middle class is getting killed, he said. the middle class is getting crushed and, he says, the working class has no way up. you've got to get out more, joe. middle class incomes are sharply higher than during the obama years after stagnating in the obama and biden years. a working class income is rising faster than they have in years. the lowest paid workers are getting the biggest raises and then the fantasy land economics got worse. biden was asked if he would sacrifice hundreds of thousands of blue collar jobs for the green new deal. yes, he said, he would and they

will transition to high-paying green jobs, wishful thinking? so here we have the democrats leading candidate trying to talk down trump prosperity and getting it at wrong. he wasn't alone. mayor pete also said that the economy is not working for most of us, for the middle class. bernie joined in, we must tax the billionaire class so the economy works for all. senator warren said no, her $8 trillion wealth tax would not stifle growth and innovation and what was the outstanding financial moment of the night? mayor pete's fundraiser in a wine cave. oh, the horror! high end entertaining for socialists and the mayor had to point out that he was the only one on the stage who was not a millionaire or a billionaire, so i digress. we are living in the best- performing economy in the world, it's mr. trump's big re-election issue. the democrats will have to do a lot better if they want to beat the president.

last night's spin was just plain laughable. now, listen to this clip from the debate. >> i can talk to the old neighbors and middle class neighborhoods you grew up in. middle class is getting killed. middle class is getting crushed and the working class has no way up. it's a consequence of that. >> folks aren't measuring the economy by how the dow jones is looking. they're measuring the economy by how they are doing. >> we need an economy that works for working families, not just the 1%. >> we can increase productivity in this country and we can start building this economy from the ground up. that's how we build it in small towns. that's how we build it in rural america, and that's how we build it in urban america. stuart: if the democrats are banking on beating trump on the economy, they're going to be disappointed come november. i'm just mocking here, perhaps i shouldn't do that. let's bring in polster for mike

bloomberg's potential campaign. he was not on the stage. but he will be the only democrat who could talk sense about the economy. >> well i think given his unique role as a leader in new york, a business leader has created hundreds of thousands of jobs and a centrist, i have to agree with you he's got strong plans on guns, climate, healthcare that i think in the wake of what's going on are far better issues than the economy right now. stuart: he's not going to wealth tax or anything like that? >> no, absolutely not. stuart: i think his chances are very strong actually and his chance of getting the nomination are very strong because it looks like it's a broken convention. he comes in with a great deal of money to spend, and a great deal of leverage to exert, and i think it could be the nominee. >> well if we get a split count out of the first four contests, bloomberg does well, hopefully super tuesday could result. stuart: and big time on super tuesday that's when he rolls in. >> exactly. that's exactly the plan, yes.

from your math, yes. stuart: do you think that the democrats, last night, especially joe biden, the middle class is getting killed. that's just not real. >> he's playing to a primary audience of trump haters. the full campaign, if he ran into any of the others last night should get the nomination instead of bloomberg would have to be very different, because you can't run that campaign and win the full election i agree with you. stuart: you're right. i've got to check the market. at the moment the dow is up 100 points, we set all-time highs earlier for the dow, the s&p, and the nasdac, and frankly, the bull run continues. couple of individual stock, look at tesla an all-time high and we were told it still has room to grow some more and amazon delivering more packages in the u.s. than ups, the postal

service and fedex combined. joel shumer is with us. welcome back. i read your stuff you know. >> thank you. stuart: what is this about, wait , wait, what's this about you're looking into next year, you invest in foreign companies. >> not u.s. small cap. stuart: and tiny little companies. >> right. stuart: this is the golden age of technology. >> it is the golden age of technology and we're not getting rid of them but last year, microsoft and year-to-date, it has been up 55%, apple is up 75% i don't think those things are repeated those are two trillion dollar companies so am i saying to get out of tech? no i'm not saying that. am i saying get out of u.s.? no i'm not saying that but real estate is priced high. fixed income is priced very low. there is a 35 basis point spread to investment grade so people should not be chasing risk in the fixed income market so where are they going to go? we see non-u.s. small cap. stuart: wait, non-american small companies? >> so a couple things. one, so we're saying still u.s.

small caps and we've been saying this since october and they're up 13.5% and a year ago, by the way, everybody is saying why are you in the stock market up 35-40% over the last year, up over 30% year-to-date so if people are looking to diversify their holdings, i'm not saying get out of u.s. , i'm saying u.s. small caps will continue to run, they still have 10% or so to catch up to the u.s. large caps, we believe that the best market globally for investors is the market that did the worst in 2019 which is non-u.s. small caps did only 15% and about half of the u.s. large caps less than half of the u.s. tech companies, and we think if you're going to diversify your holdings get out of fixed income and the cash. a lot of people have cash on the sidelines and are sad they missed this extraordinary 2019. this is where you put your cash and your fixed income, this is where you put maybe some of your real estate holdings, non u.s. small cap but keep the u.s. small cap because they still have room to run and don't get out of your tech companies but you might want to take

profits out of your microsoft and apple. some of your profits some of them. stuart: i've got to pay a fortune in capital gains taxes. >> but that must imply that you made a fortune right? if you're paying taxes on a fortune, lighten the position. stuart: are you telling me i'm greedy? >> [laughter] no. not if i want to come back. stuart: [laughter] >> i'm saying that if you have large holdings, in stocks, hang on to them, i think they will still do well. by the way the markets last year , the markets last year were not uniform in the appreciation so as we talked about a quarter of the return of the 30%-32% was from two stocks, apple and microsoft. those are two trillion dollar companies that went up 8% collectively of the 30% of the russel 1,000 growth out of 1,000 companies two companies drove it so there are a lot of other companies that have room to grow and we're not saying get out. i'm hanging on to my amazon and my tech companies. but i'm going to take moral

lower class indication non-u.s. small cap and u.s. small cap. stuart: okay, you've got it. are you a professor? >> i am that and we also run money. stuart: yes, you do. joel thank you very much for being with us, have a great holiday. >> you too. stuart: boeing's starliner did indeed launch this morning and it's experiencing some problems on the way to the international space station. what happened? ashley: everything was fine, 15 minutes after launch there it goes. the rocket, the boost is up there, that came off which is what is supposed to happen, about 15 minutes and then the afterburners kick in and that pushes the spacecraft on to the right orbit to dock with the international space station and they never kicked in so it's on a wrong orbit. nasa says it's stable, but just in the wrong path, but they are trying to figure out how they can get this thing back on track now this was supposed to be the final test, they actually have a dummy in there called rosie that's got sensors all over it to measure the g force. this was supposed to take nasa

astronauts into space some time next year. the first time that nasa astronauts are being used since 2011 when the program ended but houston, we have a problem. stuart: fix it. ashley: yes. stuart: yes it is indeed christmastime, and i seem to be hearing secular music, christmas music just about everywhere. feel like i'm living in an elevator sometimes with music coming at me. we'll be talking to jonathan morris about secular music at christmas, and why we don't have more religious music at christmas. told him about it. earlier this week the house voted to impeach the president. last night democrat candidates sounded off on impeachment, andrew yang said the media needs to get off impeachment. later this hour i'll ask former white house press secretary sean spicer what he thinks about that and we always report on the high tax, high price liberal cities in this country. well, up next, we have a guest who says housing prices in

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stuart: the first question of the democrat debate was about the president's impeachment, doug shoen is still with us. it left you guys, you are absolutely obsessed with impeachment. >> not me, stuart. stuart: and now this thing has stalled. >> well look it was not a good idea from the start. i think nancy pelosi realizes and to your question, the left wing of my party, which is not my wing and not my world view, is so angry, so hateful towards trump, that that explains it. it's very bad politics to emphasize impeachment when there are other issues, non-economic

issues that can be used. i think that's what's giving nancy pelosi pause. stuart: i think she's going to lose. when i say lose i think she's in real political trouble. >> i think she knows that the party is on the way to losing with impeachment. she's trying to figure out some way to get out of this mess. stuart: she really does think that? >> oh, yeah politicians know what's going on. she knows this is a loser particularly in swing states with swing voters. stuart: do you think they could lose the house because of it? >> i don't think they will but it sure won't help, stuart. the bloomberg polster himself. stuart: check that big board holding on to part of the rally right at the opening bell the market shot straight up and i think the dow was up 200 at one point a couple minutes. now we're up 79, but we're still at 28, 457. look at apple, please. is it still at record levels? 281, it was at 283 earlier.

they have a secret teamworking on satellite technology to beam data to our devices. >> they sure are working on this according to bloomberg we have to give them exclusivity, linking devices together without a traditional network is one goal and essentially that could eventually cut out wireless carriers so we're talking about disruptive businesses from amazon's emerging footprints and the same if the company has its way, apple has its way it could be the second. stuart: are they building satellites? >> they are working on satellites, and they also are working with some satellite companies, so it's two track if you like. stuart: well that's new. real news and the stock right now, 281, it was at 283 about 10 minutes ago. big coastal cities, they have the most expensive housing markets anywhere, but my next guest says that those coastal areas on your screen, home prices there could actually come down next year. come on in, former hgtv host and

realtor, mike aubry. now okay, we're just talking about those coastal cities, where home prices right now are very very high. you think that could come down next year, by how much roughly? give us a ballpark. >> you know, i'm really unsure on how far they would come down stuart but i'll say this. i think when you look at the corporations that are in those cities now, the fact that the trajectory on pricing has actually gone through the roof, and the fact that you're seeing those companies move out of those spaces and go to southern spaces, where things are cheaper , taxes are cheaper, so go the millennials i think the demand is going to be down. i think you could see it maybe drop as much as 5%. stuart: okay that's the coastal cities, where home prices right now are very high. what about the rest of the country, because i think you're forecasting an up-tick in housing, in the housing market and maybe an up-tick in prices, right? >> i am. so if those people move out of the coastal cities in california , and new york, boston , places like that, where

are they going to land and who are they? i think they are going to land in southern cities like austin, charlotte, nashville, tennessee. i think that the problem is inventory is incredibly low right now and i think it's going to stay incredibly low this year that's really driven by the fact that boomers are retiring in place. i think that first time home buyer housing is underserved right now and i think that that may create, put us in a situation where people are having trouble bidding wars or going to occur and prices may go up some because of it. stuart: bidding wars? oh, that's interesting. we're not seeing bidding wars for quite a long time if i'm not mistaking. i remember them back in 06 and 05, but not recently. what about millennials we keep hearing conflicting reports as to whether they are buying homes or not buying homes, renting or whatever. what are they doing? >> i think millennials are buying now. i think finally millennials have decided okay, i've had enough,

i'm going to get married, it's time to start having kids and maybe i need to settle down and what comes with that is their ability to want to put roots down. i think they are starting to pay off their student loan some and save some money so they have down payments for housing and i think that what we will see this year is that millennials will be our biggest buying group, way bigger than boomers, way bigger than generation x. stuart: where are they going to be buying because i think of millennials with money as in the coastal areas. >> well, i mean, look. let's talk about apple as an example. i think i heard you say something about apple before the break. apple is getting ready to spin $1 billion on a campus in austin , texas. not in menlow park or somewhere near there. i think what we're seeing is that it's just too much money to be in those spaces any more, and they're going to move to places that are more tax-right for them stuart: okay it's a trend. mike aubry thanks for joining us see you again soon. >> my pleasure. stuart: next we'll bring you the

number one in our list of states for the best economic outlook and of course we'll give you a few clues here we go. the country's first trans continental railroad was completed in this state. it's the only state where every county contains some part of a national forest, and it's also the location of the first-ever kentucky fried chicken restaurant. it's not kentucky by the way. the full answer, number one, after this. >> ♪ ♪ the epson ecotank. no more buying cartridges. look at all this ink it comes with. big ink tanks. lots of ink. no more cartridges. incredible amount of ink. the epson ecotank. just fill and chill.

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quarter percent higher, 75 points on the upside. okay remember before the break, i was asking for clues as to which is the number one-ranked state in terms of economic outcome and here is the clues that we gave you in that state the country's first trans continental railroad was completed and the only state where every county has a part of a national forest in it, the location of the first-ever kfc was in this state, no it's not kentucky so what is the number one? it is utah. that's the number one state, where the number one economic outlook in america. this concludes our series. lauren simonetti is here. why is utah number one? lauren: they haven't hiked taxes in 20 years. stuart: sold i'm there. lauren: sold, in fact just yesterday governor herbert cut taxes again both personal and corporate taxes, cut another quarter percent to 4.66% how about that? property taxes, no state property taxes, there is a local property tax that goes to fund

the schools but guess what about the schools? bum number one in the nation when it comes to college placement exams. stuart: really? lauren: yes lots of jobs are open they rank number one in the entire nation for job creation, 3.3%, boeing is there, the air force is there, the list goes on unemployment in terms of being the lowest at 2.5%. so, utah makes a point to do this. what kind of workers do you need let's hook up with the colleges here and make sure that you can get the skills from the college level for the companies that that will we hiring. stuart: fascinating and the state governor gary herbert is on the show a little later in our 11:00 hour, great series lauren: lauren: low taxes, hands off approach, but very very encouraging we'll help you setup shop here. stuart: free markets, capitalism lauren: does it work? stuart: it really does. we have a few data breaches to

tell you about with big names, facebook, amazon's ring for example, next cyberguy is here and i'll ask him, this looks like the new normal, a data breach a day. we'll be back. >> ♪ ♪

stuart: it's a good song, but i think that it qualifies as secular. ashley: i understand. stuart: the message is great. it's a great song. mid-way between little drummer boy and hark the harold angels.

oh, got to snap into this the president just tweeting here we go, have a very haded good talk with president xi of china concerning a giant trade deal and china has already started large scale purchases of agricultural product and more, formal signing being arranged, also talked about north korea, where we are working with china and hong kong. progress! but now, look at amazon and facebook both big tech companies , they've got major data breaches again. jackie deangeles, give me the details. >> reporter: there's a research firm with facebook that says almost 300 million accounts were breached in some way, and this data that was collected that was scraped ended up on the dark web now the firm says this happened when that scraping process takes place they go page by page and they literally pull the data and they same time, ring those door bells, amazon owns the company

ring, they're reporting or they've been reported that there's a breach there as well. i did speak to ring, they gave me a statement and they said ring has not had a data breach, our security team has investigated these incidents we have no evidence of an unauthorized intrusion, or compromise of ring systems or networks. we've notified customers whose accounts we have identified and have reset their passwords so basically what the bottom line is here look the technology is not going away. we all have to be smarter about it the companies do and the consumers do so change your password, sign up for two factor authentication. try to protect yourself. they say they're trying, you have to do something too. stuart: thank you, jackie. it seems to be its become the new normal. we report these data breaches almost every day, certainly every week. they just go on and on and on, and look whose here? the cyberguy, curt. am i right here? >> 33% increase over last year alone. i mean -- stuart: there's nothing we can

do about it. >> well the only thing you can do about it is be smarter about what we're feeding the system so we got on this crazy rollercoaster a long time agond a we started downloading apps because of the great convenience and we just said yes to the terms of service not realizing that when they said to us, hey, we'll share this data with trusted partners that those trusted partners meant the dark web, or any tom, dick or harry they wanted to sell that to who then would use it for any means they choose so this continues to be an awakening, i think, of how deeply pervasive our private lives have just been harvested and are for sale to just anybody , and it makes me, i mean , first of all, i'm so frustrated because i sat next to you here and for years have been ringing this bell, and now it's like oh, and then you look at brilliant work of the new york times that was put together in their opinion piece about

examining 5 billion location data pings over 12 million people, and tracking them and seeing where they go and all they need is your home address, and your work address to see who you are, when we were told all along that our data, our location was anonymous, but no, they can figure it out. it's very simple so they are able to track people and know exactly how you're spending your time, if you go over to the competitor for lunch and you start working there a month later well you knew it. they knew that was coming. stuart: that is really, undoubtedly, big. >> so you reign in your privacy and you say no and you say to the apples of the world that operate the app store and google play that operates their app store, you say no, you say don't let these kinds of rules penetrate and be the standard any more, and so the consumers got to pushback and wake up and say we're not going to take it

any more. stuart: okay i want to talk to you about what are going to be the big tech products of the next 10 years. >> we're looking at the next decade and i think one thing you can count on number one are i love my car. i like the rev of the engine. i also did order the crazy pre- order the crazy cyber truck, so i do want electric. stuart: your picks for the next decade? >> i think the product of privacy for the very first time we'll see apple at ces in just a week and a half, they will be there for the very first time in their history in an official capacity, touting privacy as their product, so privacy and our ability to reign our privacy back in, i think it's going to become a big product. stuart: they are going to say, we'll keep your information private. there will be no data breaches. >> our products will be the safety of your privacy. stuart: okay so that's the deal. the other one what's this about displays, a big product? >> i think we'll see over the next 10 years a remarkable thing

so we have a display in the form of an ipad. i think what you'll have is a phone you pull out of your pocket and you can stretch. and you can bend, and you can fold, and unfold to a larger state, and i think we're going to see some wallpaper become a display so you walk into a room and instead of saying i'm going to paint this wall this color, that you choose on the fly whenever you feel like it and we won't have the sensation of that led warmth coming off of it any more. they will figure that out so i think you'll see that coming about, and i think also this remarkable patented technology that apple purchased allows you to touch the smartphone, and get the sensation of let's say touching water so it feels like water, or you want to have a fabric it'll feel like the texture of the fabric when you're shopping at j crew or whatever. stuart: have you ever read the book "brave new world"? >> yes, okay. stuart: i believe in that brave

new world they'vevery got the feelings. you go to the cinema and a movie and you can put your hand on a pad and you feel the emotion that's on the screen. that's what you're talking about with an an apple screen right? >> which came first? the idea of it? a lot of what's innovated over the next decade is what started in fiction. i really think that's how a lot of ideas happen. stuart: i'd like to see that. >> but i think also 5g is going to be huge next year and it's going to take, not next year but over the next few years and it's going to be next to free and i think we're going to see this very huge fake pushback in neighborhoods and communities around the u.s. of people saying block the 5g from coming into my neighborhood because they are worried about the dangerous waves from them so you'll see that happening. stuart: but i'm waiting for the fascinating, the tech sensation of water off the top of my iphone, i want it. >> it's yours. stuart: provide it. kurt, have a great holiday, we'll see you soon.

merry christmas, sir. last night, the democrats held their debate and sounded off on impeachment. andrew yang said the media needs to get off it. later this hour, sean spicer is with us, what does he think about this impeachment mess and the media. next it's the annual christmas music debate i don't care if it's so much for secular music i think christmas music should be more religious, jonathan morris joins us after the break to continue the debate. >> ♪ ♪ most people think of verizon as a reliable phone company. but to businesses, we're a reliable partner. we keep companies ready for what's next. (man) we weave security into their business. (second man) virtualize their operations. (woman) and build ai customer experiences. (second woman) we also keep them ready for the next big opportunity. like 5g. almost all of the fortune 500 partner with us.

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me because i don't really care for secular christmas music like the little drummer boy, but jonathan come into this, please. i don't believe there was a drum mer boy in the manger, so why is it all over the place these days? >> oh, come on, stuart, relax. stuart: [laughter] >> thank you. stuart: you're a former catholic priest and you're telling me to relax, with the little drummer boy? >> because what's so beautiful about the drummer boy is it's the secular and the religious in an encounter. a drummer boy, a meeting the child jesus, and that's the same then as today. you need to relax about it i think. stuart: okay, producer, just play silent night, please. just play that. listen to the beauty of this, jonathan. listen to that. now that's, it's christmas. it's about the birth of jesus which is what christmas is all about and that's a beautiful melody. what's the problem here? and you prefer little drummer

boy? >> i don't prefer it but i'm okay with it. i mean, that is a beautiful, i love the religious songs, let me tell you the other day i was in the subway in new york city and there was a woman there singing silent night and it drew people and the crazy subway of new york city, it drew people and again, that's the secular new york city encountering the devine, and a drummer boy with also encounter the devine so i think you're doing the either/or it should be both and. stuart: you make a good point, and i will submit to your superior intellect here and your religious background and ii will say that you've got a point. i've just said that on tape, okay watch out. now, let's get serious for a second. the way to look at this headline from christianity today. it reads "trump should be removed from office." now look i'm sorry jonathan i've not read this article, i believe you have. why is a christian magazine

saying this kind of thing? >> yeah, i think they lose more credibility than president trump by what they're writing and let me tell you why. i have no problem at all with religious journalism, offer offering points for the voting public, to say hey, have you considered this in terms of our president, when you go to vote, take into consideration what he's doing in this area, this area, that area. that's perfect. but what he's talking about when they are talking as a christian journalistic institution of why he should be impeached i think they're stepping across the line because impeachment is really about a legal choice. it's saying did he break the law and that's not about a religious judgment. it should be about a legal judgment and i think they lose credibility. stuart: hold on a second jonathan. the president tweeted about it. this tweet coming at me right here. i'm sorry it was a little while ago but this is the president's

tweet. a far left magazine, or very progressive as some would call it, which has been doing poorly, and hasn't been involved with the billy graham family for many years, christianity today, knows nothing about reading a perfect transcript of a routine phone call, and would rather have a radical left non-believer who wants to take your religion and your guns than donald trump as your president. no president has done more for the evangelical community and it's not even close: you'll not get anything from those dems on the stage. i won't be reading it again. jonathan, respond to that, please. >> i mean, i love it. he hits every point there, and i don't know that he was reading christianity today before this all happened, but i think he's saying hey, you guys are not in touch with the voting public and if you are calling for my impeachment, you better come up with legal reasons instead of religious reasons,

and i would agree with the president on this one. stuart: as we close out this interview, producer, can you play oh, holy night, so we can get out of this interview with some beautiful christian christmas music and listen to this, jonathan. >> i'll close my eyes. stuart: it's a beautiful thing. it's absolutely beautiful. jonathan r month us thank you very much indeed and a merry christmas to you, young man. >> thank you. stuart: let it breathe. let it breathe isn't that beautiful? ashley: nothing wrong with the little drummer boy. stuart: it's a much better mood. ashley: the little drummer boy. stuart: i like them all to jonathan morris' point there's room for them all. lauren: he did the demonstration it was beautiful. it was secular and the religious come together. >> more jonathan morris! stuart: that's good, very good okay. this is for you. fisher price makes toys for

toddlers. >> deirdre: age appropriate for me! stuart: they're being slammed, for being too snooty. >> deirdre: yes they are, they have these little plastic kitchens and food, that kids like to play with so people are saying it's too hipster, too high brow and then the flip side is tons of people saying that i wish i had that but do you know what listen? i'd say do you know whose happy about this the teams at peloton they are lake thank goodness someone else is dealing with social media backlash. stuart: there's always somebody at 4:00 in the morning in the basement in their bathrobe picking holes in something like the fisher price toys. and it's too snooty. what rubbish. ashley: some aren't even wearing a bathrobe, we won't go there. lauren: my family and kids and myself were the biggest snots of all then because we eat wine and salami all the time and my kids would love playing with that and in fact i'm going to go buy it.

we just call it meat and cheese; however it's also very in style. stuart: is it? lauren: yeah, every menu, on the appetizer section, there's three cheeses for $15. ashley: very european. lauren: so i'm the biggest snot of all. >> deirdre: for all of the restaurant businesses, at $15 to the bill, right? stuart: can i move on from this? lauren: i'm sure. stuart: impeachment. seems to be helping president trump, the day the democrats voted is his campaign raised more than $5 million. in our next hour, we'll have kelly talk about that and she was the president's former special assistant, now she raise s money for a pack. how much have they brought in? a lot. andrew yang is the voice of reason at last night's debate calling for the media for focusing so much on impeachment. next i'll ask sean spicer what he thought about that and what he thinks about impeachment too.

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>> the media networks didn't do us any favors by missing the reason why donald trump became our president in the first place if you turn on cable network news today you'd think he's our president because of some combination of russia, racism, facebook, hillary clinton, and

e-mails all mixed together, but americans around the country are no different. we've blasted away 4 million manufacturing jobs that were primarily based in ohio, michigan, pennsylvania, wisconsin, missouri. what we have to do is we have to stop being obsessed over impeachment, which unfortunately , strikes many americans like a ballgame where you know what the score is going to be, and start actually digging in and solving the problems, that got donald trump elected in the first place. stuart: well there you have andrew yang, the only democrat on the stage last night who got it, stop being obsessed with impeachment. look whose here to talk about this. sean spicer, former white house press secretary. shawn welcome to the show. >> thanks for having me sorry i missed the egg isment on christmas music. stuart: your input on that? >> i love this time of the season. and it's this mix of the new stock, you know the mariah carey , wham, versus old school and i go back and forth but the nice part object it is you get it all.

stuart: so you're not on my side in that debate? >> honestly i only could see the debate i couldn't hear it so not sure who came down where. stuart: we agreed there should be a mix. >> oh, absolutely. stuart: there's nothing wrong with a mix. >> no, the best part is that the christian part of it really does get you in the spirit to remind you what it's all about. stuart: i have to talk impeachment. i think andrew yang was dead right. >> oh, yeah. stuart: i think this impeachment drive is now being driven by the media. what say you? >> i think it's driven by the media but it's also driven by the far left. there is a piece of this electorate in the democratic party that is so obsessed with the 2016 election with the election of donald trump, and frankly, they are upset with the success they are having and they are like we need to get him. their candidates are responding in tone. yang is the only one whose not frankly catering to the far left , and it shows in his poll numbers. i mean, he's the only one that actually got on the debate stage that's in the sanity caucus, but i don't see him rising because

if you're not getting those people who are really fired up and those are the people driving the debate, they are driving the media. stuart: i just don't see impeachment as a winning issue for the democrats. >> no it was like but look last time in 2016 it's the same thing they went after trump and yang talked about it in that clip that you just played. people out there, tweets don't make people's lives better or worse. rhetoric doesn't make lives better or worse, policies do. either you go back to work and your kids and all those people are living in your basement get jobs and move out and they are in a trump economy and that's the thing is that what people are seeing is their lives improving their communities improving their businesses improving saying do you know what i like the direction the country is headed. stuart: and then joe biden is saying the middle class is getting killed, the middle class is getting crushed. >> right, but it defies reality we saw today growth up. we continue to see jobs increase , wages increase, and at the same point, they don't have anything to run against. they tried running against trump that didn't work. they are trying to talk down the

economy and talk down the job growth because they have nowhere else to go and you've seen it. look, the president got elected with an agenda. he went in in and did exactly what he said and the results speak for themself. the democrats went in and said give us the house we'll do this and what do they do? nothing about policy. nothing. the only thing they have to show is investigation after investigation after investigation and i think that if you look at yourself heading into this next election and you say do investigations make my life better or worse? do they make my family's lives better or worse? then vote for them if you want policies, and they will improve it. stuart: we've got a vote coming up. >> sean i'm sorry it's so short idaho i'd love to play christmas music for you. merry christmas. merry christmas. stuart: the markets on a real amazing run, record, records, records, constantly, charles payne coming up, next. and let's see what he's got to say about this bull run and mayor pete held a swanky

fundraiser that was full of swarovsky crystals and $900 bottles of wine apparently. we'll talk about that a little bit more and we'll also talk about speaker people who still hasn't sent those articles of impeachment to the senate. peyton, what are we doing here? brad, welcome to peytonville. what's this for? song inspiration. i started in my garage, but nationwide protects so much i had to expand. nationwide helps protect everything you see in here, brad. every family, every business, every dream. see mrs. hoffman? nationwide protects her home and car, but also her dream of retiring to become a yoga instructor. oh, they have backstories. of course they do. here, i got more to show you. keep up, now. a little hustle.

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stuart: speaker pelosi has turned impeachment into farce. she will not send the articles of impeachment to the senate, and this morning, we have a harvard law professor, a democrat, who says the president has therefore not actually been impeached. noah feldman was a witness for the democrats in the hearings. if it wasn't so pathetic it would be funny. the speaker has made a series of blunders and will surely pay a heavy price. she was railroaded into the impeachment process by that far left group of trump haters known as the squad. bad move. then the speaker gave the hearings to the coastal elite

squad, adam schiff from los angeles, jerry nadler from new york city. bad move. middle america doesn't like being lectured to by the elites. the speaker poll tested with focus groups how best to bring the president down. ooh, can't say quid pro quo so they made it bribery. but when the charges were finalized, there was no mention of bribery or any high crime or misdemeanor. the vote was taken but a couple democrats jumped ship. one actually switched parties and was welcomed to the white house by the president himself. it was the republicans who maintained absolute unity, not the democrats. now the deliberate delay. the democrats have spent an enormous amount of money on this. they have wasted months of congressional time and what have we got? noah feldman says he hasn't actually been impeached. the house is off for the holidays, won't be back until next year. impeachment is in limbo. america is being put through all of this because the speaker of the house wanted to bring the

president down. now judgment will be passed on her and it will not be kind, nor should it be kind. speaker pelosi and her party will be held accountable for what has become an embarrassing mess. we get to vote in 319 days. the third hour of "varney & company" is about to begin. stuart: get some reaction to that editorial from kelly sadler, america first action pac. i want to know how much money the gop has brought in because of pelosi's impeachment blunder, as i call it. but first, though, your money. joining us now, "making money" host charles payne. welcome to the show. it's friday. now, the markets are on an absolute amazing run. do you think that will be a problem for the democrats in 2020? charles: absolutely.

absolutely. i mean, every single poll out in the last week say the same thing. americans are just amazed with this economy. absolutely amazed with -- stuart: but wait a second. now we are talking the stock market and the democrats are going to say well, the only people who get rich on the stock market are the rich themselves. it doesn't mean anything to the rest of the people. charles: but i'm not talking the stock market and these polls weren't talking the stock market. they were saying how are you doing economically, how is the country doing economically. quinnipiac have good and excellent. excellent was 26%. shattered the record. shattered the record. all time high americans in that poll saying the economy is excellent. stuart: really. charles: it cut across all racial groups, it cut across all educational groups. absolutely phenomenal. look at already this morning, what's driving today's session? okay, we get consumer sentiment, the second highest read this year. current expectations went up, current -- how people feel,

inflation expectations for the next five years, at the lowest ever. so americans not only feel great, they expect it to keep going. they think it's going to keep going. income blew away estimates. spending blew away estimates. it's absolutely remarkable. what are the two best stocks today? how about carnival cruise line? they had their issues but are big ticket items. they are exploding today because they reported amazing numbers and amazing guidance. corporate america is saying it, main street is saying it and the stock market is saying it. stuart: the stock market is on a nice bull run and charles, hold on a second, i have wells fargo kind of raining on the parade. lauren, what's wells fargo saying? lauren: kind of is a good word. they are saying there will be a 10% correction in the first half of 2020, but then say the s&p is going to be up on the year, giving it a 3388 price target and adding we would buy the dip. stuart: oh, well, that's not quite raining on the parade. lauren: it's just a headline.

stuart: i don't know about you, charles, i would expect a 10% correction after an 11-year bull market. i would expect it. charles: too cute by half. way too cute. wells fargo, fix your business. you know what, get your stock up before you start pontificating about the rest of the market. here's what i worry about with this kind of stuff. when we were at a seven year run, people thought it was long in the tooth. eight years, eight years is long. kind of long in the tooth. nine years, oh, little worried, maybe a correction. ten years, 11 years. don't ever guess the top. what i'm trying to suggest to people is i don't say chase stocks or even chase the market, but chase fundamentals. these numbers are reading out to you we haven't caught up to these numbers. i think they are going to be much better next year. here's my thesis for next year. couple big head winds this year. household formation and business spending going to make a complete reversal. we are in the midst of it right now. going to help drive this economy up. gdp over 3%, put me down for it.

stuart: which leads me to what joe biden was saying last night. he was out there in the debate claiming that the middle class is getting killed, that the economy's not working for everybody, that the middle class is getting killed. i think we should just roll that tape, let everybody see this. go. >> i don't think they really do like the economy. go back and talk to the old neighbors in middle class neighborhoods you grew up in. middle class is getting killed. middle class is getting crushed. the working class has no way up as a consequence of that. stuart: the middle class is getting killed, crushed, working class has no way up because of that. come on. charles: joe biden has been reading that same line, though, his entire political career. it comes out of democrat 101. i use the chart on my show yesterday, i keep saying this chart proves in my mind it's why president trump will win, easily win re-election. it's not the stock market chart. it's the chart of wages. overall wages and blue collar wages over the last 20 years, 30 years. we haven't seen blue collar wages grow like this in a couple decades.

this is from bls data. blue collar wages are growing significantly faster than overall wages and it's absolutely, this is shared prosperity. another term democrats like to use, this is real shared prosperity. we are in the midst of it right now. will anyone gamble out there, by the way, the same blue collar workers that voted twice for president obama gave a shot to president trump, they are being rewarded big-time. stuart: i will pick up something else joe biden said last night. he said he's okay with killing hundreds of thousands of blue collar jobs in exchange for a greener economy. okay. let's hear it from the man himself. roll tape. >> three consecutive american presidents have enjoyed stints of explosive economic growth due to a boom in oil and natural gas production. as president, would you be willing to sacrifice some of that growth -- >> the answer's yes. the opportunity for those workers to transition to high-paying jobs tom said is real. we are the only country in the world that's ever taken great,

great crises and turned them into enormous opportunities. stuart: so his green new deal, he would sacrifice blue collar jobs and say well, we will just transition those people to the green economy. charles: it's nonsense. i just mentioned the bls, bureau of labor statistics. if you look at how they categorize wages, no group makes more than that group, than those oil workers. no group. let me tell you something. i'm working on a book, i'm tinkering with the title but essentially it's modern day volcano gods. you know how primitive societies destroyed themselves if they lived near a volcano, they would sacrifice humans, you know, burn down entire crops? stuart: where you going with this, charles? charles: we are on the cusp perhaps as a nation of sacrificing our prosperity to the volcano god of climate change. i'm not saying it exists or doesn't exist but do we need to destroy our prosperity to appease the volcano god of climate change? i'm a little concerned about it. stuart: write that book and i

will actually buy it. charles: good. that's a fox business alert, folks. stuart: it really is. charles, when do i see you on tv? charles: i will be on at 2:00. we will pick up on some of this stuff. stuart: i bet you will. you're all right. merry christmas to you, lad. thank you. mayor pete, he was criticized by senator warren at the debate big-time actually for a high-priced fund-raiser in a wine cave. oh, the horror. wait until you hear mayor pete's response. it was good stuff. as i said yesterday, impeachment is not a win for the democrats. again, that's my opinion. it's a win for the president. we have new fund-raising numbers to show it. kelly sadler joins us next, america first action pac. the third hour of "varney & company" on this friday before christmas coming right at you. ♪

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after three years of sinister witch hunts, hoaxes, scams, tonight the house democrats are trying to nullify the ballots of tens of millions of patriotic americans. crazy nancy pelosi's house democrats have branded themselves with an eternal mark of shame and it really is. it's a disgrace. democrat lawmakers do not believe you have the right to select your own president. stuart: well, the president in fine form there. the push for impeachment by the democrats may actually be helping him. his re-election campaign raised, what, $5 million on the day the house democrats voted to impeach him, and the republican national committee raised $20.6 million in november. joining me now, america first action pac communications director kelly sadler. these are huge numbers.

i guess they tell you the base is fired up about impeachment. they really don't like it. >> oh, yeah, absolutely. in the last 48 hours, the rnc and the campaign combined raised $10 million. now, if you want to look at, you know, where the base is really fired up, let's look at the get out the vote effort. the rnc put out a goal they wanted 60,000 volunteers across the country to be trained and to be knocking on doors, promoting the president. they have trained 30,000 already and this compares to in 2016 when there was only 5,000 volunteers. so we are seeing this not only in the donations but in the enthusiasm to get out and promote the president's agenda, his message, because they know this is a witch hunt, they know there's no basis for impeachment, and they see what the president is doing for them and the economy and their families and yes, he's going to slide right back into re-election in 2020. stuart: as you know, speaker pelosi has delayed sending the

articles of impeachment to the senate so theoretically, president trump has not yet been impeached. you love this. you like this, i'm sure, because why not. this nonsense really fires up the base. they will come pouring in with the money for you. >> i mean, it's so ludicrous. we were told that the president of the united states is an urgent threat to our democracy and that he must be removed. so what does nancy pelosi do? she makes all of these 31 members of the house who won in trump districts basically walk a plank and vote for impeachment, then she's not even going to send it to the senate. she has no authority over the senate. the fact of the matter is they don't have the evidence to convict in the senate. we know that he's going to be acquitted and this makes it look even more partisan than the sham of a process already was. now, when is she going to introduce these articles, in january? that's 45 days, you know, until the iowa caucus. good luck to senator klobuchar.

good lub ck to, you know, senat sanders and senator warren trying to campaign on this issue in 2020. stuart: certainly got you fired up, kelly. the money is pouring in. kelly sadler, everyone. thanks for joining us. appreciate it. >> thank you, stuart. stuart: a few security breaches to talk to you about. one after another these days. ash, will you start, please, with ring, amazon's video doorbell? ashley: the security cameras. buzzfeed reporting over 3600 log-in credentials for ring camera owners have been breached. not only can they get access to e-mails, passwords, home address, telephone number. more creepily, they could get access to your cameras. one marked for the bedroom, one marked for whatever, they could have access. amazon says we have notified people that could have been compromised but think about the consequences. stuart: not good. okay. now, facebook. lauren: huge 267 million users had their personal data leaked on the dark web and was on the

dark web for two weeks. you have january 1st, the california privacy act coming down. you have everything europe is doing coming at facebook and the tech giants to protect our privacy. facebook is so well aware of the need to do this post-cambridge analytica, et cetera, that their statement says this. this information was likely obtained by the criminals before we made all of our changes. we patched the hole where we think they got the data, this doesn't happen anymore. stock is barely reacting. stuart: barely reacting. wait a minute. we've got one more. data breach at wawa. ashley: this is the convenience store that runs from pennsylvania down the east coast, 860 locations. turns out they had malware in their payment system and discovered this december 10th. it had been there as early as march 4. so for nine months, credit card information, debit card

information from thousands of customers may have been exposed. they are being offered free credit reporting programs, but they haven't seen any unauthorized use of credit cards. but it took nine months. it just shows you, you put in a bit of malware, someone opens an e-mail that they shouldn't and you are compromised. often it's that easy. stuart: anybody who does not have the name, address and social security number of every single american -- ashley: yes. buy it on the dark web. stuart: some breaking numbers on "star wars." $40 million came in domestically. it started last night, of course. disney says it's the fifth best domestic open of all time. okay. that's "the rise of skywalker." now, it was senator warren versus mayor pete on the issue of fund-raising at the debate last night. all over a swanky fund-raiser in a wine cave. we will tell you all about it. keep it on "varney." ♪ i'm your 70lb st. bernard puppy,

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and served $900 a bottle wine. billionaires in wine caves should not pick the next president of the united states. >> mr. mayor, your response? >> you know, according to "forbes" magazine, i'm literally the only person on this stage who is not a millionaire or a billionaire. so -- this is important -- this is the problem with issuing purity tests you cannot yourself pass. stuart: my, what fun. on the right-hand side of your screen, you're looking at a wine cave, the wine cave that has everybody talking this morning. of course, reference to that nasty clash you just heard, a wine cave. how could you hold a fund-raiser in a wine cave. is it a badge of honor among democrats to have no money? ashley: yes. next one. lauren: you heard what mayor pete said. i'm not a millionaire. i'm not a billionaire.

i'm the only in quotes poor guy on this stage and he got a round of applause. stuart: it was interesting, he was right. of the seven candidates on the stage, he's the only one who is not a millionaire or billionaire and this is a party which hates the rich, wants to tax the rich and all their candidates are rich. ashley: because it's a dirty word. you cannot be rich, you cannot be successful. how dare you. you must have done it on the backs of everybody else. stuart: what's wrong with a fund-raiser in a wine cave? ashley: if you are going to have a cave, a wine cave is fantastic. stuart: you ever been in a wine cave? lauren: yes. i would love to try that $900 bottle of wine that elizabeth warren was talking about. but this is a problem for michael bloomberg. how can he compete in that environment? he's got, well, $52 billion. ashley: so what? good for him. stuart: we hold a christmas lunch every year for the "varney" team. next year, wine cave. $900 bottles of wine. the producer just said it's on tape. you got to do it.

big online shopping names on your screen. tomorrow is super saturday. last saturday before christmas. traditionally, i believe it is the biggest single day retail day of the year. bigger than black friday. we have our top retail guys on it. gerald storch and matt shea are here for super saturday, tomorrow. joe biden touted the success of unions at an event last night. he said even mcdonald's workers should unionize. what does the former mcdonald's ceo ed renzi say about that? i'm sure he will sound off. keep it here. he's on the show. ♪ nationwide helps you invest for your future, brad.

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go to vettix.org. stuart: just have to say it, the bull run continues. look at this, on the left-hand side of the screen, the dow is up 114. that's the best part of a half percentage point, pretty close. the s&p up .33%, solid gain on the nasdaq as well. all-time highs all over the place. now, look at some individual stocks.

big names that just keep on going up, setting record highs. apple reached $283 earlier. it backed off to $281. microsoft hit $157. it's still at $156.90. tesla, that reached $410 a share. it really has backed off to $403. big name companies setting record after record after record. you still have last minute christmas shopping to do? get ready to brave the large crowds. let's bring in the guy who used to run toys "r" us, gerald storch, our retail guy at this moment. i didn't know that tomorrow, saturday, was the biggest single retail day of the year. i didn't know that. is it? >> well, it depends how you view it, really. if you just say exactly midnight to midnight, it might be true but if you really look at what's happened with black friday, it starts on thursday now. i think if you take the 24 hours when black friday really starts on thursday evening, you go 24

hours, that's still bigger. particularly if you include all the internet sales because it's become a huge day on the internet, thanksgiving day and black friday. but look, it's kind of an argument without a point because when it comes down to it, this is by far the biggest day left and it's massively important for retailers and you make a lot more money on this saturday as you get close to christmas than you do discounting everything in sight on black friday. stuart: you have been with us for a few months looking toward the holiday selling season and you consistently said the consumer is really strong and spending strongly. give us a progress report. we are less than a week to christmas. has it been the best holiday selling season in many, many years? is it that good? >> it's been very very strong. and the consumer continues to be on fire, and you have seen that in every report that comes out including the reports we saw today on consumer confidence and spending. so the consumer is very strong. but that doesn't mean there isn't going to be carnage here because the gulf between the winners and losers is becoming

an ocean. we talked a lot about who the winners are, target, costco, walmart, et cetera, the discounters and internet guys, but there are some people doing really badly right now, and that would be the department stores and the mall-based apparel stores. i'm very worried, you got to put them on a watch about what's left of sears, about jc penney, about some great department stores, beautiful stores like bloomingdale's. that's a company in search of a profit formula, how to make money. neiman marcus is way overleveraged after an lbo. kind of suffering here. the mall-based stores like gap or victoria's secret or david's bridal are sort of last century concepts in search of a future, and they may not make it through the next decade. stuart: wow. last century's concepts in search of a future. that's the kiss of death right there. gerald storch, thanks very much. let me bring in national retail federation chief matt shea. matt, i am told that half the

adult population of america will buy something for the holidays tomorrow. 148, 150 million people. that sound right? >> sounds right, stuart. sounds like a great number to us. we are coming off, remember, a really strong thanksgiving weekend, almost 190 million americans were out shopping on thanksgiving weekend. now we are going to get nearly 150 million in one day. that's better than 10% above where we were a year ago, and i think we know consumers are in a great place. you just heard jerry refer to that. if you think back a year ago, we had fed market fluctuation, you had interest rate raises, you had a government shutdown. this year we have none of those things. we have wage gains, stock market gains, consumer confidence is up, and we did good things. we got the u.s. canada mexico agreement done, progress with china, the government is funded and open. we are going to have a great weekend. stuart: look, one last one for you, matt. you represent bricks and mortar

people. you represent online people. could i say that this year has been the year when online really arrived and started to take over? >> well, i would say this is the year in which we know there's one single winner and it's the consumer. maybe another winner is the economy overall. but consumers are winning here because retailers, whether they started out their businesses 100 years ago online or 25 years ago online, 100 years ago bricks and mortar, they are meeting consumers where they are. they want to be in both places online and in stores, and this is the year we really saw that convergence happen. stuart: matt, thanks for joining us. last word to gerald. same question. is this the year when the online sellers arrived and started to take over? >> well, certainly they have done remarkably well this year and the gap just keeps growing. these are trends that have been happening for a long time. i don't know if i believe in tipping points because in watching this year after year after year, but i think it's fair to say we passed the point of no return.

now the e-commerce is taking off like a rocket ship and the all channel approach is the way these bricks and mortar retailers will have a future, by combining the stores with the internet, but the future is online. stuart: you should see the amazon boxes piling up at the apartment buildings in new york city. it's a stunning thing. gerald storch, matt shea, thanks very much for joining us. happy holidays to all. thank you. joe biden held an event urging mcdonald's workers to unionize. let's have a look at that. roll tape. >> we should unionize mcdonald's, not only mcdonald's workers, i understand lyft drivers are here. how many lyft drivers are here? same deal. understand -- who else is here? uber drivers are here as well. wall street didn't build america. the middle class built america and guess what? unions built the middle class.

stuart: okay. let's bring in fat brands chairman and former mcdonald's ceo, ed rensi. have at it. what would mcdonald's be like if it were unionized? >> well, i think we have to understand that mcdonald's corporation has very few employees. it's the franchisees, somewhere in the thousands of franchisees that have a lot of young people working for them that are entry level, low-skilled people. the middle class did build america but unions protected the middle class in coal mines, steel mills and places like that with safety initiatives. if they had stuck to that they would have been better off. now they are in the dues collection business. mcdonald's corporation takes no position about their franchisees. if the employees want to sign up with unions, they can, but they don't. look at the flight to work states that have workers' rights, you know, think about the jobs that left michigan and illinois, places like that.

they went to south carolina, tennessee, kentucky, because they're right-to-work states. they didn't flee the state, they fled the union involvement in work rules. joe biden hasn't run a business in his life. if you look at his lifetime career, he's never worked for anybody but the federal government, meaning me and you. i think the guy is so out of touch with reality he shouldn't be on the stage with anybody. stuart: why do you say that unions have become dues collection machines or devices? >> because they provide very little -- look, no union can provide anything to any employee unless management agrees to it. it's inflationary because their work rules are insane, they are inefficient and there's a degradation in the quality of work over time. it's not to say that the individual union worker isn't a hard-working person. they are. they work their tails off. but they are also limited in what they can do because of union rules. i had an experience when i was working for a company that had unions, they called me college

boy. they said slow down, kid, we are going to be out of a job if you keep working the way you're working. that's a mentality that we can't live with in this country. stuart: just suppose for a moment that mcdonald's workers were unionized, fast food workers unionized, uber drivers, lyft drivers, unionized. would that make america more prosperous? >> i doubt it very seriously. look at what's going on in france right now, where they basically shut down the country because they want to move the retirement age from 62 to 64. they don't want to do it for current pensioners. they want to do it for people coming into the work force today. it's insane to think that you can do these kind of things and not have economic consequences. joe biden and his ilk never think about unintended consequences. what they're trying to do is buy votes from union workers and get campaign dollars from union pac funds. that's all they're doing. they're pandering to an idea

that's dead. stuart: ed rensi, hope you have a wonderful holiday period and hope to see you soon in the new year. thank you, sir. >> happy new year, everybody. stuart: you know, we have come to the end of our series of states of the economy, it's a series we have been running. all week we have been breaking down the country's fastest growing economies, those with the best outlook. number five was indiana. number four was nevada. number three was north dakota. number two was idaho. number one, utah. we have the governor on the show. gary herbert. he will tell us why utah clinched the number one spot. we'll be right back. ♪ look, this isn't my first rodeo...

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stuart: you saw them on the screens briefly there, the top five states with the best economic outlook. number five, indiana. four, nevada. three, north dakota. two, idaho. yes, the number one is utah. lauren is with me. go through the bullet points as to why they are so good. lauren: top in the nation when it comes to creating jobs. 51,000 in the past year, with the job creation rate of 3.3%. unemployment second lowest in the nation, 2.5%. they do not raise taxes. haven't raised them in 20 years. in fact, they cut them. cut them a lot. some of the reasons why utah is bringing business and jobs to their state. stuart: well, well, well. i think we need to bring the governor of the great state of utah on to this program to tell us how he really did this thing. governor gary herbert, governor of the great state of utah, number one on our list. governor, great. congratulations. i've got a question.

you have never raised taxes in 20 years. how do you do that? every other state has raised taxes sometime. >> we feel the best way to pay the bills is to grow the economy. if you have an expanding economic growth factor, you actually receive more money proportionately to, in fact, pay for the costs of government, whatever your issues, education, infrastructure, transportation, you know. that's how we have done it here in the state of utah. by the way, our unemployment rate just came out today. 2.4%. lowest we ever had in history. stuart: 2.4%. my goodness. >> private sector job growth creation which is what you really want to grow, not government, is 3.7% private sector job growth creation. doing very well. stuart: i'm not done yet. there's one more thing here. i understand, have you eliminated pensions for state workers or reformed them? which is it? >> we have not eliminated them.

we reformed them to make sure we are, in fact, fiscally prudent. to us, having a aaa bond rating which is one of only 12 states in america, unfortunately, to have it today, is key. efficiency in government, how we spend the money in respect to taxpayer dollars, government is labor-intensive. we actually have fewer state employees today than we had back in 2002. we actually reduced labor and government, we saved the taxpayers about $400 million a year by not just keeping up with inflation or growth and consequently, we run a very efficient government right now that respects taxpayer dollars, saving them about $400 million a year which now we are able to, in fact, balance our budgets and get so that we're functional, fiscally prudent on pensions. stuart: we're not used to this. i may be taken aback by this but i'm not used to it. i do have this question. the state of utah is dominated by the church of latter day saints, the mormons. is there a connection between

the mormon religion and the performance of the state's economy? >> well, certainly the culture of utah, which was formed by the early mormon pioneers that said we need to work together in this kind of hostile environment, and they said we will make the desert blossom as a rose, that culture is continuing. when i came in with the desire to lift the power of the private sector, let's create the most business-friendly place in america, that culture working together certainly permeates it but it's self-sufficiency, less reliance on government, good hard work ethic, working together in the spirit of collaboration and cooperation which you do not see in washington, d.c., is alive and well in utah. stuart: i'm told that youngsters, mormons, young people, go on training missions. they go on missions overseas. that's also good for the state, isn't it? >> well, it certainly helps you

mature and understand what's happening around the world. there's about 80,000 missionaries out around the world. we speak 130 languages in utah. so we are the most bilingual place on the planet which helps us with international trade. we are very successful when it comes to working with people and countries around the world, and have international exchange. so our economy is growing leaps and bounds in every area, including international business. stuart: governor gary herbert, number one state, utah, congratulations, sir. it's great having you on the program. i'm absolutely taken aback with what you've done in that state. just terrific, sir. congratulations. >> come and see us. we are happy to share. it's just common sense mostly. all states can do it. stuart: if you're not careful, i will bring the show over there. watch out. governor, thank you, sir. appreciate it. >> thank you. stuart: sure. let's get back to individual stocks. i'm going to take a look at nike. it's now down a couple of bucks. their north american sales a little disappointing.

down comes the stock nearly 2% now. look at uber, banned in germany again after a court rules it lacks a necessary license to allow drivers to use rental cars. it's not hurt the stock. still at $30 a share. ge, remember that stock? the "wall street journal" reports ge agreed to -- on a deal to build more airbus engines to help offset the max jet shutdown. ge, $11 a share. and now walking into the studio, as we speak, i believe, our new competition. look at him. that's ed henry. he's the new co-anchor of america's newsroom on the fox news channel. he's going to air 9:00 to noon. he's the competition. i've got a bone to pick with him. we'll be right back. ♪

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>> they will put 5,000, 10,000, that's dangerous. stuart: remember that? peter lynch, legend of an investor, ran the magellan fund for a long time. you can see the full interview on barron's roundtable here on the fox business network tonight, 10:00 p.m. eastern. peter lynch. wow. he's back. so is our competition. new competition, that is. there he is. that is ed henry. that is the man who has been named the new co-anchor for "america's newsroom." you go on the air at 9:00. >> all the way through noon. kind of like you. we are going head-to-head. know what i did to celebrate last night? i went home to my wine cave. just kidding. stuart: so are you on this program now to attempt to steal some of my audience? >> if i could please take the microphone, i want to talk directly to the "varney" audience. look at me, look at him.

no, in all seriousness, stu and i have been on "fox & friends" for a long time. we have great fun. your audience is terrific. we have got a great franchise that's been built by bill hemmer with sandra smith, and sandra and i will be co-anchors. it's just been awesome to have management say hey, we want you to go in there because you know what it's like. it's run and gun. you wake up, you are here at the office as i understand at 4:00 a.m. getting ready. what you plan to do oftentimes i bet is completely ripped up. this three-hour window, especially in the trump years, but with what's going on on capitol hill, what's going on in the markets -- stuart: what do you know about the 9:00 hour which is the opening of the stock market? we have been pursuing this extraordinary bull run for all these years. >> i heard about it. i have been watching your program. stuart: wait, wait. wait. you think you can compete with the bull market for the ages? >> let me tell you, qqq, that's really good. spy, check that out. that mirrors the s&p. stuart: you missed microsoft.

you missed it. you missed it. >> i didn't buy it. i should have. should have listened to you. stuart: i want to take one moment here because the audience doesn't know what you did. >> my sister colleen, she had hereditary cirrhosis and this summer i took time off and i donated part of my liver. it's fascinating what modern medicine can do. they took 30% of my liver and they took out her diseased liver and my 30% liver regenerated in her, within four to six weeks. then mine, what i had left regenerated within four to six weeks. you know, she hosted my family, my wife, my kids, for thanksgiving, because she wanted to show that she was back and she was cooking and decorating the home and colleen is doing fantastic. it's just a miracle, frankly, because i had the support of so many people because we should say, we are teasing each other

about the 9:00 a.m. thing. you are a terrific friend and there are so many people in the hallways here who were behind us, praying for us, the fox audience, the fox business audience, so that was so humbling, made me so grateful this summer. i took off in july. i was out for a couple of months. my sister is healthy and she's two years younger than she, she's got two beautiful children and she's got a whole new lease on life. so i'm just so proud that she's doing so well. the support of the fox audience has been amazing. stuart: shake this hand because i don't normally shake hands of the competition. [ speaking simultaneously ] >> look out. this is the last time we will smile together. stuart: absolutely true. >> good luck to you. it's going to be a rough run for you. good luck. you know that bull run is going to stop. stuart: hey, look at the time. see you, ed. >> happy new year. stuart: more "varney" after this. ♪

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to walk, sponsor or volunteer, visit namiwalks dot org. >> the surprise before christmas and i want to know, let's talk about boeing starcraft, everything was going great, they lost the orbit now they heard from nasa it does not have enough fuel to get to the space station so the let it come back down in white sands new mexico and sunday. not a great outcome for boeing but not a total failure. >> we will see, that's the begin. what is your favorite story of the day. >> i love the wine cave, a sound so nice to bring people togeth together, 900-dollar bottle of wine, i'd love to know what that taste like. it is friday, cheers. >> i said our next christmas

party would be held in a wine cave. i think that was on tape so i think i messed myself up with that. >> i'm not sure you can find one in this area. >> varney is going to be proven completely wrong on that. time is up for me, it is friday, have a great weekend and a great holiday everyone. neil is your. neil: thank you stuart. we are following the records, here we go again here we go this season on a dramatic upbeat. the question is cannot be sustained. we will debate that because they were debating that last night. >> this economy is not working for most of us. >> middle class is getting killed, middle class is getting crushed. >> unemployment rate in gdp have very little relationship with people in this experience. >> we need an economy that works for working families just the 1%.