dagen: thank you, joseph ended john, always a pleasure "varney & co." starts right now. stuart, it's all yours. stuart: thank you. good morning. by now, we have seen the chaotic and frankly disgraceful scenes of violence and insurrection at our nation's capital, wednesday, january the sixth, at a good day for democracy but this morning, thursday january 7, we are waking up to a political transformation. 3:40 a.m. eastern, congress finally certified the election for joe biden. he is the next president. tran 81 in georgia and the democrats now run the house, the senate and the white house. some of the presence of supporters are walking away from it. lindsey graham took on the floor of the senate and said counts me out. it's over.

some of his opponents are: for his impeachment immediately and reportedly some cabinet members discussed using the 25th amendment to remove mr. trump from office. clearly, his leadership in the republican party is in doubt and it's hard to see him coming back politically. he is now forever linked it to the dreadful scenes i'm yesterday's riots perhaps you will be surprised to see the market's reaction. it's not a selloff, it's a modest gain. in fact, the dow jones may set another record at the opening bell. it's getting closer to my 31000 and right now, we see green of 100 dow jones, s&p up 19, record high yesterday and nasdaq up too close to 100 points paired that's a rally despite it all. bitcoin hit $38000 earlier this morning and continuing the dramatic rally.

gold, is it the new safe harbor in times of trouble as its 38665. it's been a remarkable 24 hours, complete political transformation , president still maintains that he won. we expect dramatic development during the next three hours of our show. "varney & co." is about to begin. ♪ >> no, no, no! >> no! no!

>> they broke the glass. everyone stay down. stuart: it's hard to watch, isn't it collects chaos unfolding throughout the day in our nation's capital. now look at the markets, holding up, in fact rallying despite the chaos. market watcher dr barton joins us. i think some of our viewers will be surprised, chaos in dc, a challenge to democracy and a market rally. can you explain this? >> stuart, in the midst of one of the most

disturbing scenes i've ever seen from a political standpoint, those of storming the capital, really may be the symbol of our democracy here in the us , the markets are not about emotional and political out ball. the markets are all about what's going to happen with the economy, with earnings, with money flow and what we are seeing here is overcoming of uncertainty by as you reported the wee hours of this morning, we had a transition. of the president, despite all of the other stuff said he would not stand in the way of inauguration on the 20th, so the markets are looking past that because they see it as a one off event with money still to be put to work, still more stimulus likely from the blue congress and of the president elect so the

markets like that in the markets are acting bullish. stuart: i think you put your finger on it, a mountain of money will arrive in our economy fairly soon because-- we said this yesterday, you are going to get a whopping stimulus plan and the riots yesterday enhance that expectation and you will have reserve continuing to print money where and when and how much is necessary. that's a mountain of money and you can't fight it. if you are an investor you know some of it will hit to the stock market and that's the real motivator here isn't it, a mountain of money, a gusher of liquidity. >> yes, and it's going to be on top of the pile that's already there, stuart's. we have talked before about with the previous stimulus, both the physical nature from the fed and the monetary nature from congress has put an extra $2 trillion into savings accounts just this year. that money is still looking to find a place.

it's finding it in stocks and bitcoin, so we are seeing assets, inflation and you have to continue to be involved in this stock market that has all that rocket fuel under it. stuart: we hear you, dr barton and thank you for being with us. let's deal with twitter and facebook. they took really strong actions against president trump. susan, tell us. susan: facing fire even from some investors with facebook and twitter locking president trump's account, first time ever on twitter initially 12 hours, but they are threatening permanent suspension. president trump has 88 million followers on twitter. facebook, 35 million a follow president trump's pages and he has been suspended for .4 hours and also instagram. they say that one minute video yesterday telling

investors to go home violating policy and they say facebook calling it an emergency situation. also, youtube removing videos from yesterday's capital breach and the social media companies are accused of enablers of the violence, those that allowed calls this morning argue world leaders are treated differently because their post is akin to public policy announcements, but since this summer and the george floyd protest there have been stepping up and policing on their platforms and conservatives say the policing only applies to them. stuart: got it. i believe the twitter embargo, the twitter halt stopped at 7:00 a.m., i think. susan: has to remove certain posts which they haven't done. stuart: i have not seen a tweet from the president after 7:00 a.m. got it. thank you. let's turn to the economy. adt reported this week the private sector dropped 123,000 jobs just in the month of december.

the number of new unemployment claims coming in this morning still a high level, 787,000. brian brenberg is with us. this is not a strong jobs market, clearly. with the democrats now holding on the power, they are going to spend a mountain of money and the feds will print a ton of money. will that revitalize the job market and the economy? >> i think you are right, they will spend a mountain of money in the fed has shown that they are willing to continue to print money from here until 2023 or bond, but that does not cover me, i mean, when i look at the job numbers and seek 58000 jobs lost in leisure hospitality, and i did the federal government is going to pump a bunch of money into the economy doesn't make me happy because these businesses still can't operate and as they go into 2021 they are just looking at a mountain of money, but

they are looking at new regulations, higher taxes, so when you paint the whole picture, not just the mountain of money and that's what the market is looking at but when you look at the whole picture which is a much more involved federal government in the lives of medium and small businesses, that's not a reason-- that's not a recipe for a strong economy. the recipe is getting businesses-- by the way businesses were the most interested in peace, the most interesting in peaceful self, that's what they want. they want to open up and do business in the part of the union in this country. government money is a short-term and in my opinion a very foolish way to think about economic recovery. stuart: the short-term is the amount of money will hit the economy, but what about the long-term crash. is there any consequences to the borrowing of trillions?

>> we don't have this money. it's all borrowed money. our kids and grandkids will have to deal with the fact we are spending gobs of money we don't have and that's the long term and the long-term picture is we are just talking about the government spending money. we are talking about the government putting the clamps down on businesses. if you look at the agenda that now has a clear pathway in congress, it's higher taxes, more regulation in all parts of the economy, i mean, these are the things that dampen business is a spirit and right now, we should be giving every confidence that america stands behind businesses in 2021, but what they will see in the year ahead is they are up against photos they have never had to deal with before and it's going to be hard to bounce back in the face of new restrictions and new taxes. stuart: im out of of time, but i would like to pursue this because it sounds like you are saying you don't trust the stock market rally. i'm sorry, i'm out of time. i have to go to a

commercial. >> i don't, stuart. stuart: thank you. see you later. i'm going to change attack your because we have at import story. company ministry should is considering an investment than on alibaba and 10 set. susan: us officials are considering it. it's not exactly law yet and that's part of the blacklist last month on chinese companies. alibaba one of the biggest chinese companies, nearly one and a half trillion dollars combined widely held by american retirement funds so there's been pushed back from investment community that us investors would be hurt in this type of move. by the way, the original blacklist was aimed at chinese companies that work with the chinese military. these two companies don't necessarily do that, but it's just a consideration who knows how the next administration if they will even take up this measure.

stuart: it's just a suggestion and that's why the stock is up. amazon-- china? susan: that's right. stuart: check futures, please. chaos in washington, but the dow jones will be up 100, nasdaq up close to matt 1% and the s&p on the upside. it was a disturbing scene with chaos, destruction, writers just storming the capitol building. green beret and congressman michael waltz was evacuated from the house for. he's going to take us through it next.

...and they found themselves in a magical land. and then what happened? where's our family from? was he my age? so nana and pops eloped? ...and then what happened, daddy? well, before us, there were your great, great, great grandparents. turn questions you've always had into stories you can't wait to share; with ancestry.

it's time you make the rules. had into stories so join the 2 million people who have switched to xfinity mobile. you can choose from the latest phones or bring your own device and choose the amount of data that's right for you to save even more.

and you'll get nationwide 5g at no extra cost. all on the most reliable network. so choose a data option that's right for you. get nationwide 5g included and save up to $300 a year on the network rated #1 in customer satisfaction. it's your wireless. your rules. only with xfinity mobile. it'sthe sleep numberwest pric360 smart bed.on on you can adjust your confort on both sides... your sleep number setting. can it help me fall asleep faster? yes, by gently warming your feet. but, can it help keep me asleep? absolutely, it intelligently senses your movements and automatically adjusts to keep you both effortlessly comfortable. will it help me keep up with mom? you got this. so, you can really promise better sleep? not promise... prove. and now during the lowest prices of the season, the queen sleep number 360 c2 smart bed is only $899. only for a limited time. to learn more, go to sleepnumber.com. stuart: florida congressman michael waltz joins us. welcome to the show. you are inside the capitol building

watching this under siege and i think you were evacuated from the house for-- house floor. what happened? >> we were debating the constitutional issues with the vote in arizona when the capitol police came in and told us the capital grounds had been breach we were going into lockdown. they secured the doors. i know from my military experience the smell of tear gas. many members began donning gas masks, barricading the doors. some broke off the legs of a furniture as some thugs tried to barge into the house and eventually we were evacuated, but it's just a black day on the country and really a sore day for america. i felt like i was back in afghanistan or africa where i served in a way

to say, stuart, this doesn't represent the tens of thousands of the peaceful law-abiding trump supporters i've come to know. many came up to peacefully protest to make sure their voices were heard to make sure we took a stand to address some of these constitutional issues that plagued this election will continue to if we don't get a hold of it. stuart: do you now support president trump leaving the republican party and may be running in 2024? do you support them? >> well, i really want to see him focus and talk about the great things we got done. i absolutely support that, justice reform, tax reform, rebuilding the military, i mean, the veterans were formed and the list is extensive and if we had talked more about what he has done for the minority community in the campaign in georgia with record low unemployment historically black colleges again, judge reform and really hammered that our policies are better, our values are true to what

this country is and needs and the flag i fought for and i think we need to focus on the results rather than allow the rhetoric and i think the president will be the leader of this party. stuart: there is some resignations already and some gop senators walking away from him. lindsey graham, for example. there are calls for his impeachment. can he really get over what happened yesterday and the part he played in it? >> you know, i would like to see the president as forcefully denounce this violence as we had two of the past year whether it was portland, chicago or other places. there's no place for it-- stuart: congressman, but he still says he won. he is still saying he won. peaceful transition of power, january 20, got it, but he still says he

won. >> we have to have that peaceful transfer and a bad slight that's what last night ultimately was about, but we also had these issues that the states need to fix. florida fixed them. we were a laughingstock when he came to elections and we took them on and the other thing we are doing in florida that i will do nationally is pretty much more serious penalties in place for any type of political about-- violence. enough is enough whether portland or storming the capital or anything in between, you don't get to hide behind some type of issue and hurt fellow americans. we are all americans at the end of the day. we can disagree, but we do it with debate. yelling at each other rather than fighting in the streets is what sets america part from places where i have served in that has to be the loud and clear message is. stuart: michael waltz, thank you for joining us we appreciate it.

>> thank you sir. stuart: lets apprise our viewers with what's going happen on the market this morning. a lot of people are expecting a selloff. we will go up all three, dow jones, nasdaq, s&p all in the green. j.p. morgan, the chairman, jamie diamond is a strongly condemning the violence on capitol hill. ashley, come in please. what is he saying and do you know what you must have done? ashley: well, he says this is not who we are as a people or a country, that we are better than this. in a statement he went on to say elected officials-- stuart: ashley's video frozen in time right there. poor guy has his mouth open in the middle of his report. we will get back to him later. again, let me show you futures before we go to a commercial break with the dow jones up about 140 and the nasdaq coming back to the tune

of 100 points, s&p up 24. back in a moment. ♪

stuart: we will open higher this morning with green on the left-hand side of your screen mainly rally at the opening

bell. david bahnsen joins us. david, i think we have an explanation for why the market is up on a day like this and that is that there's a mountain of money coming straight at wall street, straight at the economy have we got it right? >> well, i think the stimulus and additional spending that's likely to come out of the biden administration has been well known and then priced into markets for some time. honestly, a big part of the reason the market would not go down as a day as disturbing as upsetting as yesterday is that it was not a market sensitive event. there was nothing that hinted at short-term let alone longer-term corporate profits, so for the most part i think we need to be-- and stop being so surprised when markets don't respond to news events because it's getting investors in trouble. this is the norm that the markets have a mind of their own as they are diligently focused on

corporate profits and do a much better job of ignoring the noise. stuart: does the market corporate profits will be strong and the economy strong with the democrats holding all power in dc, house, senate, white house? >> they do, but they don't hold all power. 50/50 present with vice president harris breaking the tie and three moderate democratic senators and house majority that's razor thin, so it's still a very divided situation that will have a lot of horse trading and gridlock. corporate profit growth was huge out of the financial crisis and yes, there was a democrat in office. this is much more nonpartisan and went think and i say that as a conservative republican. corporate america, the whole reason we believe in free enterprise is because as the ingenuity to make money regardless of headwind like difficult politicians. i think profits will grow because we are

coming out of a difficult time to get the american economy going again. stuart: do the events of yesterday, traumatic events of yesterday, doesn't set back the conservative cause? >> it-- in a sense it does and what, i mean, by that is for a movement conservative like myself, i know you believe in the principles of the american experiment, of course it doesn't alter those things, but pragmatically it's a very bad look. the left we media will use it for all they can as a stain on all of us, as unfair as that may be, but the fact of the matter is it was an awful event in any of us who are real conservatives can do is condemn it in unambiguous terms. stuart: david bahnsen, thank you for being with us. i have to get to the opening of the market. always a pleasure. come back soon.

we have exactly one minute to go before we bring nobel on wall street and about a minute and 15 seconds before we start trading. here's the backdrop, we have this chaos in washington dc, but at 3:40 a.m. this morning, joe biden was confirmed as the next president of the united states of america. that happened at 3:40 a.m. you consider democratic process having been interrupted did eventually work. congress went back to the floor of the house and the senate and confirmed incoming president joe biden. that, i could say, is a plus. we have some resignations from the administration's team. the trumpeting with stephanie gresham gone-- who do we have here, matt pottinger is gone, mick mulvaney, special representative to northern island whose walking away and we had

the floor of the senate lindsey graham, a principled supporter of the president say he is done. 's had a great ride, but he's done. stuart: the bell is ringing. in three seconds we open training-- trading and we are expecting green. 30860 was the close yesterday and already we are at 30957. you are about 30 audit points away from $31000 on the dow industrial. at the rally. more than half the dow 30 stocks are in the green. s&p closed yesterday at a new record high. it's opened at another record high. up 25 points, two thirds of 1% on the up side. nasdaq, that did not close at a record high yesterday, but it is up this morning with a gain of 1%, 12870. 130 points up.

this is a thursday morning rally the day after the history making riot on capitol hill. we have some big names that have just reported their earnings. ashley, run through it fast. ashley: good to be back. put more coins in the meter. bed bath and beyond down 13%, weaker than expected sales. the company posted a net loss of 75.4 million, sales less than expected same-store sales did rise 2%, but again missed estimates and the company also not giving guidance citing significant covid related headwind result with the stock down the today. is a different story for victoria's secret parent l brand with the bump over the holiday season with sales exceeding expectations coming in at 3.83 billion dollars over a nine week holiday period. same-store sales at bath

and body works jumping 17% with the company racing is guidance well ahead of consensus in the stock up modestly 1% stuart: thank you. let's look at tesla i think they are up again today, yes 2.6%. what's going on? lauren: that's a record high. rbc, and analysts there said he got tesla shares and i'm quoting completely wrong. upgrading the company. he raise the price target to make 700 from 339, that the big hike. the firm thinks tesla can deliver 800,000 cars a share. two things to point out, street high for tesla shares is 810 at morgan stanley giving tesla and nearly $1 trillion valuation. can you believe it cracks looks like we are going in that direction with shares at a record 777.

stuart: and still worth more than the other nine leading car companies in the world combined. online betting companies getting some really sounds like pretty good news from new york governor cuomo. was the news? susan: good news for the state coffers as well. governor cuomo finally thinking about legalizing online sports betting because new york needs the tax revenue. the proposal will be likely part of his state of the state address next week. cuomo is probably looking over his shoulder at neighboring new jersey which now dominates the online betting market in november alone new jersey set a sports betting came in close to a billion dollars for the state. by the way, that's a record one month whole and also bigger than what nevada is taking in which means new jersey has weight in to fill in some of their shortfall gaps. we know new york needs. stuart: okay.

esca back to the well and look at big tech, please. it's had a rough time a bit over the last: days. this morning i see them all on the, not a major rally. what we have on this? susan: bank of america, the latest events that coming out saying they are downgrading tech may say dump tech, but if you have it hold it. they are upgrading industrials like caterpillar to a by. as i mentioned, they are saying the biden policy is becoming crystal clear which means more tech regulation, higher stimulus spending meaning you need heavy machinery. also, less global trade. stuart: it's amazing, right on capitol hill, democrats take full control of congress end of the white house and the market rallies. susan: the market works issue price--

stuart: you are looking down the road, not yesterday, six months in. a gain of 600 to a gain of 400 come i will take that. looking at financials because i'm sure they are up again. goldman sachs, is that a record high, lauren? lauren: it is, 290 seconds ago with the leadership on the dowd jc morgan and american express, dow jones and goldman sachs. goldman, what a performance up 17% this month alone, double the games-- games of its peers like citigroup. the reason is the financial chaos caused by the pandemic. goldman doesn't have a large consumer bank so it doesn't have that presence and liability that it opens itself up to win customers can pay its bills, so that's a positive. all the banks rallying again today. democratic senate likely

means a stimulus is coming and higher interest rates. that's good for the banks. stuart: that mountain of money headed towards the economy. checking the big boards. we are at 30968. 28 points away from 31000. i'm interested to see the 10 year treasury yield, 1.07% today. that's up 3.8 basis points. how about the price of gold flecks, not done as well as bitcoin, but it's still up. let's get to bitcoin. cryptocurrency continues to climb with new record highs close to make 39000. as i understand it, the value of the crypto's altogether now total more than a trillion dollars. susan: you want me too say that you are always right, don't you cracks it's not just bitcoin,

bitcoin accounts for two thirds of the cryptocurrency market, but other options as well like other digital coins and also 39000 bitcoin and gold usually they have been going in the same direction, but we know the correlation has broken so it's essentially the new gold at this point. the way to hedge it from inflation in the future with the biden administration is spending more and of course a way against some of the geopolitical risk is. stuart: at the moment when he said 39000, it hits. look at that. $39000 a coin. would we have next, we have cosco. interesting news. they have had a great december. stock is down, but moran, how good was there december? lauren: sales rose 12% just over $19 billion in the reason is it was the holiday so we bought a lot of booze, but a lot of

frozen food peer. bottom line is cosco says people are coming to our stores less frequently, but spending more when they do and december's gain parallels what we have basically seen all year with seven trademarks of the double digit growth. stuart: extraordinaire. thank you. checkout "wall street journal" dan manager latest item. it's titled "trumps trump in final days". the greatest threat to donald trump's legacy is if his american presidency is seen as future historians as ending in tragedy. we may be there and quote. he's on the show later. yesterday security breach showed big flaws and how do we stop it from happening again. we have a big show coming for you. pay off my student loan debt.

they were able to give me a personal loan so i could pay off all of my credit cards. i got my mortgage through sofi and the whole process was so easy. ♪ express yourself ♪ ♪ express yourself ♪

stuart: if you're just joining us, the word is rally despite it all with the nasdaq up nearly 200 points, when and how% the day after chaos in dc is. the dow is up 126. i'm going to change the subject away from politics and a mountain of money come towards wall street. i'm bringing into gregg smith because gregg smith is putting money into a company called new wave products and new wave of products has come up with shrimp, the shrimp beyond meet. greg, i'm not laughing at this, but i'm intrigued at the idea-- great is a successful investor putting money into synthetic fish, synthetic mollis. explain yourself. >> good morning.

i grew up on a diet of pizza and hampers and i look at my two teenage kids and they are focused on health and nutrition. they read the labels, nothing i considered doing as a kid. stuart: let me break in here, exactly the same. i was brought up on fish and chips, canned food and store-bought apple pie and my six kids are all foodies. >> and they make fun of you. stuart: they do, actually. continue. >> looking at the younger generation and that brought me too invest in beyond meet when he was a private company and today i have made investments in nine other plant -based companies. new wave has spent the last five years developing plan to -based shrimp and i would call new-wave the food of the beyond meet of the shrimp. in their shrimp is made from seaweed and they will introduce their product at restaurants this year so imagine having new-wave popcorn

shrimp or kind pow shrimp made from seaweed. stuart: is a green? >> excuse me? stuart: is a green? >> not only is it replicated with the taste of shrimp, but the texture which is arguably more important in the taste, so the product is quite remarkable. yesterday we announced new-wave has raised $18 million in the series a round: buy new enterprise associates and myself. we were joined by tyson ventures and it's an incredible product. shrimp is actually the number one consumed seafood in the us. we eat a billion and a half pounds of shrimp every year in the us, which is more than 4 pounds per person so very popular and most shrimp is consumed at restaurants, not in the home. stuart: i don't want to go off on a tangent, but i am told shrimp is high in cholesterol.

i don't know if that is true. is your fake shrimp all of cholesterol to make it's not full of cholesterol. the issue with shrimp is theirs to my five species of shrimp in the world and most are actually not meant for human consumption. 30% of shrimp we consume is mislabeled. there is a lot of shrimp fraud in the market. 92% of shrimp consumed in the us comes from countries mostly southeast asia where they have little or no regulations, so most of the shrimp that ends up on our shores comes with heavy antibiotic use, plastic and other nasty toxins in the shrimp. putting aside the human rights violations such as slave labor, new-wave shrimp is a healthier alternative. it won't have toxins or antibiotics and it replicates the real deal imagine the kosher market as kosher eaters

can now eat shrimp. there's also scalloped, lobster and crab on their product roadmap. again, i would call them the beyond meet of shrimp. stuart: is a commercial for your company and we don't mind doing that because you have given us light relief from an otherwise difficult day of rioting in dc and the democrat control of congress. gregg smith, thank you. kind of went off on a tangent, but i think it was worth it. on a related note, let's talk about impossible food. they make plan to -based foods as well. come on in, lauren, i know they are cutting prices, but can you tell me why? lauren: second cut in about a year and they are cutting prices so it's cheaper and you can buy more of its. they just cut wholesale prices another 15%. this means that the fake meat, they are me, costs less than organic real beef, so it's comparable

they say we can cut prices because we have had an amazingly strong sales during the pandemic and we scaled up production so the distributors as the price cut and they hope they pass that along to the grocery stores in the restaurants and two of us the consumer wind up paying more-- less. stuart: i think it's time to move away from the plant -based food segment we have been engrossed in. lauren: i have never had it. stuart: neither have i. thank you. let's get serious and talk about the gaming company rob law. planning to go public and they have raised a lot of money, susan. susan: more than half a billion dollars with the valuation of to 29 billion, seven times what it was worth in february. it plans to raise another 30 million before going public. when they go public they

plan to circumvent what they call a broken ipo process and that seems to put more money into pockets of wall street bankers and investors. that early employees in the early founders who really deserve the money so think of airbnb, doordash and snowflake as examples. i think there's been a good track record of companies that have successfully pulled it out, but rob lox, even you know what this company does. stuart: i was looking at the video there and that looks like the kind of company that would do well on the robin hood with flashy enough in that kind of thing. susan: for younger users and demographics and is mostly made for kids, but also a path-- popular theme in the robin hood investing community. stuart: whoever heard of rob lox before couple of weeks ago? susan: maybe not you. stuart: maybe my grandchildren. chaos in the capital,

exposing deep divisions in america. listen to this. >> no! no! >> they broke the glass. stuart: how did we get here? how did we get here and where do we go from here? you will hear my take coming up at the top of the 10:00 o'clock hour. save hundreds on your wireless bill

without even leaving your house. just keep your phone and switch to xfinity mobile. you can get it by ordering a free sim card online. once you activate, you'll only have to pay for the data you need starting at just $15 a month. there are no term contracts, no activation fees, and no credit check on the first two lines. get a $50 prepaid card when you switch. nationwide 5g is now included. switch and save hundreds. xfinity mobile.

stuart: breaking news, ed lawrence, come on in because i'm hearing those explosive devices found at the r and c end dnc headquarters today are the real deal. tell me more. >> that acting homeland security, secretary of dhs said those two devices were viable, work real devices, pipe bomb looking devices in front of the rnc and eight-- dnc is that they looked similar. he said he saw pictures and they look similar so he believes the same person put those devices in those areas and also said law enforcement around dc collected a number of devices

looking similar to those outside other buildings also across the river in northern virginia. they investigated. the two specifically at that dnc and rnc were viable devices and they are investigating to see who left to them they are. i drove in today through the mall where the protest started. i could see a time of trash in almost no people. security presence was extremely increased. coming into this building in the senate side there was double the police of the doors, so increased security, but almost no people in washington dc. stuart: excellent update. thank you. very intriguing. edward lawrence write there . thank you. as i said at the top the show, there will be dramatic developments throughout this show and we just heard one of them. still ahead, matt schlapp, pete hegseth,

dan henegar, the second hour of "varney & co." on its way . .

stuart: let's get right to it at 10:00 eastern time. the market still in rally mode especially the nasdaq. look at that. it is up 230 points. that is pretty close to 2%. the dow is at 31,000. how about that? all of this after the attack our

democracy's heart, can toll hill yesterday. fluid development all day long. the news keeps on changing. we're up to speed with it. with a whole guest list that can handle it. bob doll, used to be known as the trillion dollar man. he still manages awful lot of money. congressman mark green. he was barricaded inside the capitol. he will tell us what happened. pete hegseth was at the president's speech. he will tell us what happened. lawrence jones joins us. tom del beccaro, california republican, there are a few. dan henninger joins us. he has words about the trump presidency. tom homan back with us again. couple interesting developments here. first of all the latest read on the service sector, very important stuff. susan. susan: strong, pretty bullish, 57.2 is the read we got into december. that is faster accelerating from november. remember november, ism, those non-manufacturing service numbers.

shows plateauing in a recovery. showing much stronger than anticipated, accelerating from november, showing the recovery is expanding. stuart: housing industry, mortgage rates, where are they lauren? lauren: all-time low, 2.65%. but it comes with this warning from freddie mac. they say rates are going to rise this year modestly. higher rates and rising home prices. homebuyers are going to be squeezed come spring. stuart: got all-time low mortgage rates, 2.65% on 30-year fixed. strong performance by the very important service sector of the economy. that has put the market up some more. the dow is now up close to 200 points. 31,002. nasdaq sup 246 points. that is a rally. now this. the events of wednesday,

january the 6th will be forever linked to the presidency of donald trump. it was the last day of the trump era and it ended in chaos, frankly disgrace. the president addressed the save america march. he gave a combative speech. we're going to the capitol, he said. and that's where the crowd went. the rest is a sorry tale of intimidation and farce. guns drawn, tear gas. the suspension of the democratic process. armed confrontation in the heart of our democracy. it was all downhill for the president. in the middle of the chaos joe biden appeared on camera said, we must restore democracy, decency the rule of law. he looked presidential. the rioters gave him his opportunity and he took it. a couple hours later jon ossoff was declared the winner of the georgia senate seat, confirming a democrat sweep of power. they run the house.

they run the senate and the white house. wednesday marked a political transformation. when trump supporter lindsey graham stood on the floor of the senate said, count me out. when cabinet members discussed removing the president from office, you know that donald trump's political future is done. he cannot come back from this. why, what should the 74 million americans who voted for him do now? rebuild the republican party around mr. trump's successful policy, prosperity and growth at home and confrontation of our enemies abroad. support, successful policies. just because the president disgraced his office, i believe he did, doesn't mean the democrats policies are right. but after yesterday it is going to be an up hill struggle. matt schlapp is with us, well-known conservative frequent guest on the program. i'm not sure he like what is i just said but i think president

trump, donald j. trump is done politically. what say you? >> stuart, the great thing about america is that we are diverse people. i agree with much of what you said and the way we're going to heal as a country is if everybody has the ability to express what they think in this very raw political time. that is the most important thing. i'm not so much concerned about blaming as i am about healing. what happened yesterday, it was a disgrace, disgraceful moment. it's a black mark. should have never happened. i was critical of the black lives matter protests where they almost invaded the perimeter around the white house. they set fire to the president's church, st. john's church. i watched as i went into the crowd that night, deface monuments and memorials government buildings. that was people from the left by and large, this was people from the right by and large, what they did was disgraceful. people should be arrested. there should be justice.

i can understand why people are upset. we have to get through this moment before we understand what the political consequences are. stuart: i think the political consequences are beginning to unfold. i think the president is tarred with the brush of wednesday, january the 6th. we've seen stephanie grisham, mick mulvaney resigning from the administration. there may be more. i think support for the president within the republican party and the administration is crumbling. would you disagree with that? >> look i think the resignations are very notable. it is very unusual. i think these individuals are worried it looks like they were some how complicit with call to kind of invade the capitol hill police and capital. looking at yesterday, i bet i had thousands of friends who were at this rally right here at the white house. i know they always intended to

go to the capitol. the people i know and people who i talked to last night and corresponded with never had any intention of taking kind of violent steps against cops but unfortunately this were some terrible actors, criminal actors, who were there. they did terrible things. i look at the these pictures, videos, like all of us i feel sick. we can't condone it but i don't believe anybody in the white house, including the president condones that or wanted that to happen. i don't think it would be fair under the black lives matter protests where they literally set fire to the president's church to blame a politician. these people did terrible criminal things. they should have been arrested as well. stuart: should the president come out unequivocally condemn

what happened, knock it off, don't do it? >> yes. stuart: he said there would be a peaceful transition of power january 20th, we got that. but he also said he won. he said, he keeps on saying that. he won. i mean, to say that you're not condemning the violence. >> i disagree with you on that, very, very profoundly. it's wrong for these social media companies like twitter to silence the president or his allies when they say things politically they disagree with. it's wrong when members of the media say that these provable examples of widespread irregular and illegal ballots in the count, when you say that that is somehow, that is incorrect. it is not incorrect, stuart. what we have to do as a country all people to be able to speak,

to feel like their concerns get adjudicated. when we get done with all that. there will be an inauguration, right? joe biden will be sworn in as the president and we'll have to figure out as a country how we all get along. right now if you look at polls, half the country believes that they were, their votes were invalidated and i have been to two of these states and been well-briefed. i can tell you in the state of georgia where i was well-briefed by lawyers and state of nevada where i spent weeks trump won those states and because judges, secretaries of state will not enforce the law, they were able to win those states. now i don't know if there is anyway to change any of that, but we should still as a country make sure that when we have elections, we never do this widespread mail-in voting unsolicited ever again. we should vote on election day unless you have a reason to vote absentee previously.

we have to go back probably having paper ballots. we got to make sure when we have elections in this country, no matter who wins or loses, i've lost more than i won in my life, we can all say that was fair and square we move on together. stuart: i don't want to cut this off, i am out after time. we do agree to differ, we agree we have to fix the election process. good man. >> thank you, stuart. stuart: get back to the market, we got a new high for the dow, 31,049 as we speak. bob doll joins us now, bob i think a lot of our viewers will be surprised to see a rally like this after a day like yesterday. am i right in saying that this rally is because a mountain of money is coming right at wall street? >> no question about it, stuart. the game we've seen today is basically making up for the loss we incurred yesterday afternoon when the capitol situation happened. so we're kind ever back to the

high we were yesterday. you're right, it's a mountain of cash. it is the fed saying we're not thinking about raising rates. it is now georgia victory. democrats control the senate. the market smells another fiscal stimulus package and that, in the short run is good for our economy and there is a trillion 1/2 dollars of excess consumer savings on the sideline. some of that will come back. people get more confidences a lockdowns evaporate. we get vaccinated there are a lot of tailwinds for why this market is moving higher. stuart: i've seen your predictions rest of the year. one of them, gdp, the economy grows at its fastest pace in 20 years. that is quite a statement, bob. >> it is. we've not seen 4% real gdp in 20 years since literally the year 2000. we may grow faster, stuart.

if that is the case, we may have the strongest growth in the u.s. since 1984. 36 years. undoubtedly the economy will be strong this year, making up for a lot of lost ground and then some from last year. our economy will probably hit a new all-time high by middle of this year. stuart: so the stock market continues to rally for the 12th consecutive year? >> yes, we think stocks will be up again stuart this year because of the economy making its way into strong earnings growth. now, i will throw a little cold water on it. i don't think stocks will keep up with earnings. my view is interest rates and inflation as a result of all of things we've talked about will creep higher this year. we've already seen that, with interest rates so far this year. we think that 10-year treasury could end the year 150. if it does, probably means p-e ratios are not quite as high where they are. valuation levels especially for

the very highly valued growth stocks have a dampener on them. that holds the market back from keeping up with the great earnings progress. stuart: are you little worried we may be setting up a crash? >> i don't know about a crash, stuart but, look, i start by saying i think we in 2020 borrowed some of 2021's return. the market knew how good the economy and earnings were going to be this year. because we have zero interest rates, i think the fighting the fed is a dangerous game. i don't think we're setting up ourselves up for a crash anytime soon. look, we could get a blow off top then have to talk about it again but i think it is fundamentals and easy money that is driving this market. stuart: got it, bob doll, thank you for joining us. always a pleasure. the annual winter meeting of the republican national committee is underway. amelia island, florida. that is where they are.

this is about the future of the republican party. that is a very, very interesting topic to discuss in light of what happened yesterday, and president's position in the republican party. we'll cover it for you. following the georgia senate runoff alexandria ocasio-cortez and other progressives are calling for quote transformative change across america. what would that look like? remember this, please, roll tape. >> now we take georgia and we take the world. >> yeah! [inaudible]. >> now wick take georgia, then which change america. stuart: democrats did take georgia and senator schumer says $2000 stimulus checks are at the top of his list. we'll talk about that. this is the second hour of "varney & company". ♪.

stuart: all right the market still shows rally mode. big time. the dow is up 270. the nasdaq is up over 2%. that folks is a rally all across the board. let's get back to the riot on capitol hill yesterday and bring in congressman mark green. congressman you had to barricade yourself inside of the capitol building. take us through it, please. what happened. >> thanks, stuart for having me on your show. yeah i was actually walking out of the, you know, the house floor, headed down into the tunnels when i heard all of the commotion. of course they make the announcement for us to get to a safe place. so they moved me, shuttled me into that undisclosed location where they kind of locked us in.

i actually had a tv in there. so i was able to watch some of the cctv and we have a messaging system in the capitol that keeps us alert what is going on. basically a mob took over the capitol for several hours. it was a national disgrace. i know many people have mentioned 1814 is the last timing is like this happened. that build something supposed to be a symbol of freedom and democracy. yesterday it was terrible. stuart: i just, a few minutes ago i editorialized saying that president trump is now tarred with the brush of wednesday january the 6th and that i felt, and i still feel that his political future is grim indeed. what say you? >> right now i think, you know, just 24 hours after this disturbing event that occurred, well, as i said, national

disgrace, i think we got to focus on healing. i'm not looking at anybody's political future right now. i think that is pretty selfish to even think about it. i want to think about the heart of the people in this country. when you look what happened in portland, you look what happened in chicago, you look what happened in detroit, there is something deeply going on here. we got to look into the heart of america and say, it is time to put each other first and put this country first and stop thinking about political futures and things like that. i mean, this is a, there is a condition of the heart here, stuart, that we got to look at. stuart: how do we heal? how do we get people together? >> i think we all have to realize that we're each better served when we think about others and put others first. i mean that is really what it comes down to. you know the whole so to speak. the great thing about america is that for so much of our story

people from all over ethnic, many different ethnic, you know diverse nationalities and races and we came together and we were americans but it is ideal that all these different people could come together and be one homogenous entity, that idea has been lost. we're dividing ourselves into tribes. it is not new. cain and able bell start -- abel started it. we have to get over there and get to the whole. stuart: i don't think the media, the democrats, ever let the president off the hook so to speak. they will blame him forever. it will never go away. i think that is a real problem. last 30 seconds to you, sir? >> well, this is, this is a tragedy and, i think there is going to be a lot of blame but know the media also needs to look what else has happened in

this country. they just can't pin every ill that is going on right now on one person we'll miss the whole point of it. the point there is something going on in the heart across this country that allows someone to rip apart chicago's city streets, to firebomb be a courthouse, to storm the capitol of the united states. that is a heart issue. we got to look inside and ask ourselves what are we about and how are we going forward from here. stuart: congressman, thank you, i want to thank you very much for joining us today, sir. it is very difficult time for america. you hit i had head on, we appreciate that. >> thank you. stuart: we've been concentrating throughout, frequently these days on the gun stocks. up yesterday. down today. but the weapons industry, if i can call it that, this is for ordinary people doing very well, move outside the gun stocks, for a second. ashley, what have you god.

ashley: yesterday, did. along with the gun stocks we know did well yesterday, a bit of a selloff today, stocks of security services such as digital ally. that is a maker of body camera for law enforcement jumped more than 30% yesterday. cenrx a provider of video sales systems got a big boost. digital alley, a one dollar stock. we're seeing a sell off in this sector, also for the gun stocks. getting a boost as we know taking control of congress, along with the prospect ever gun reform measures. but of course the sight of protesters storming the capitol. smith & wesson had the biggest gain wednesday in two 1/2 years which may explain some of that profit-taking today. sturm ruger came close to its biggest daily gain in

3:00 years. that down more than 2%. we should talk about ammo maker vista outdoor, nearly hit a four-year high. that continues today. vista up another 1% at 29 bucks, thereabouts a share. interesting developments as the stocks go up and down with the news and headlines. stuart: you got it. got that right. thanks, ashley. coming up we talk to tom homan about the security breach that occurred in the capitol yesterday. how do you stop about that happening again? he will tell us. the l.a.p.d. union rejecting a multimillion-dollar plan to support 2022 candidates. it is about the defund the police movement. with we've got that story for you and more after this. ♪.

stuart: it's a rally all across the board. the dow is up pretty close to 300 points and it is now above 31,100. the nasdaq is up 270 points. it is above 13,000. this, folks is a rally, despite all that you saw on capitol hill yesterday and a democrat sweep of power in congress. extraordinary stuff.

show me facebook and twitter please. i ask you to see these, the president has been silenced. after yesterday he was banned from facebook until 7:00 this morning, i'm sorry he was banned on twitter until 7:00 this morning. he can't get back on until he removes previous tweets. he is still banned on facebook, what is the other one? susan: instagram. stuart: on instagram. essentially as of right now this president is silenced. back to the markets, take a look at bitcoin. it broke 39,000 earlier. it has come back just a tad. susan: we're up 30% in just the first few weeks much 2021. isn't that great? so that means cryptocurrency -- that is what you call parabolic. we have the cryptocurrency market worth a trillion dollars for the first time in history. we know bitcoin makes up 2/3 of the crip comarket. this are other options as well.

as i mention to you. there are other digital coins you can play like ethereum and the like. some say this is the new digital gold we've seen. bitcoin has gone up, gold has gone down, this is how you hedge against possible inflation as we talk about the trillions of dollars ever spending upcoming in the biden administration. stuart: it's a flight to safety. that is what i call it. susan: i agree to you. stuart: used to be gold you went to for safety. susan: now bitcoin is mainstream. that is the main difference this time around compared to 2017. stuart: got it. i'm reading on the prompter here, we got really big news, to, elon musk. what have you got. susan: he is now the richest person on the planet according to reports of 185 billion-dollars plus in net wealth, overtaking jeff bezos as number one when it comes to dollar signs in the bank account. and you know, we know that tesla has rallied 700% over the past

year. it is worth $700 billion. that is making upbulk of the wealth for elon musk as he owns roughly just around 20% of electric carmaker. stuart: before we leave this i've got to say i'm frankly scared to death to jump into bitcoin or jump into tesla because, you know, i don't trust things that go straight up just like that. susan: also, you should be less risk-averse. you're closer to retirement age. these are momentum plays. there is nothing more momentum now than bitcoin and tesla. analyst community, someone argued that is just catching up with reality of tesla, morgan stanley, goldman sachs, capitulations. morgan stanley calling it a 810-dollar stock. they have been wrong. the market agrees with them. stuart: wonder what the left, the socialists will say about elon musk, who is a big climate guy worth $158 billion. susan: by the way his company, electric carmakers should

benefit the next four years in a green administration. stuart: i agree entirely. thanks, susan. let's move on. the los angeles police department, or the union i should say, rejecter ad multimillion-dollar plan to support candidates in 2022. what's the reason, ash? ashley: well i think the officers, stu, didn't want their money being used in political races with no guarranty of an outcome. they would rather night the current battle overlayoffs. the union board put out a statement saying in part input from the membership during the assessment process underscored the strong desire to continue amplifying our efforts to protect our profession and public safety in l.a. in a manner that is more comprehensive than what was originally planned. basically saying, yeah, we want to get on with it now. the plan by the way would have collected $22 per paycheck over a two year period, generate

$10 million to back candidates opposed to defund the police movement but the officers said we need to get on to it now, not down the road. stuart: i'm not surprised a little pushback there. thanks very much. the effort to recall california governor newsom reached a milestone. they got a million signatures on the recall ballot, the petition i should say. they need more. they need more by mid-march to qualify that recall effort for the ballot but they're pretty close. get this. governor newsom wants to give a 600-dollar quote, golden state stimulus for each person in california, making less than $30,000. here's the big story. illegal immigrants will qualify. we're on it. ♪. some companies still have hr stuck between employees and their data.

entering data. changing data. more and more sensitive, personal data. and it doesn't just drag hr down. it drags the entire business down -- with inefficiency, errors and waste. it's ridiculous. so ridiculous. with paycom, employees enter and manage their own data in a single, easy to use software. visit paycom.com, and schedule your demo today.

♪. stuart: on a day when you got such a huge market move, this is a huge market move, the dow is up 300 and the nasdaq ask over 13,000, there has to be really big movers. susan: i think what is driving the markets today is a comeback of big tech. markets don't like uncertainty. the fact that looks like january 20th is a certainty, we know what policies are coming in, tech is coming back. driving the broader indices today are the biggest of the bigs, apples, googles, facebooks. microsoft is coming back a little bit, right? susan: up five bucks, yes. talk about some other tech names. nvidia is a positive catalyst play according to citi and that means more people will be gaming. also using the cloud more, since remote work, the remote work trend is here to stay, that requires nvidia chips. coca-cola getting a town grade

today from jpmorgan. it was a buy according to them or an overweight, now just a hold. coke, looks like consumer name may not be in favor. stuart: tesla on the vern of $800 a share. i just saw that. i missed another one. how about this? new york governor cuomo wants to legalize online sports betting. lauren, when does he want this to happen? lauren: asap. we might find out more on monday when he gives the state of the state address. he wants to green light mobile and online sports betting in new york state to close a 15 billion-dollar budget gap made worse because of the pandemic. he wants to run it differently. if you run it like the lottery you through one sports book, that is worse for people that are betting he will get more money than by doing it through the casinos. the fact of the matter, people cross state lines, they go from new york to new jersey to place their wagers. betting in new jersey more in

some months than las vegas, nevada. there is the story. we'll see what cuomo does. it was an about-face for him. stuart: he doesn't like money walking across state lines. i can't say as i blame him either. lauren: no. new york needs it. stuart: they do indeed. aoc and the squad, they're equaling for quote, transformative changes across america after the georgia senate run offs. conferred a lot of power on democrats in congress. ash, spell it out. what are some of the changes they want? ashley: oh, boy, these progressives, the squad are giddy. let's talk about some of these changes. what does it all mean? take a look at the list. recurring survival checks. 15-dollar federal minimum wage. union jobs with a living wage. of course guaranteed health care, humane immigration policy. let's not forget bold climate

policies, free college and so, so much more. so the question becomes, how are we going to pay for all of that? i give you three, taxes, taxes, and more taxes. stuart: don't forget, printing money and borrowing money. that is all in the mix as well. thanks, ash. the media facing a little bit of backlash for its coverage of the deadly capitol hill riots. mark steyn weighed in on that. roll tape. >> it is always interesting to me that people are surprised when a tactic that is proved effective for one group of people is then suddenly taken up by other people of whom they don't approve and so i have listened to all this blather, whatever it is six or seven hours now people are saying, starting with the vice president down, oh, this is not who we are. have you switched on tv since memorial day? that is exactly who we are.

it is okay to burn weapon did i's in atlanta. loot macy's. loot a precinct house in minn nap police. set up the chaz autonomous republic. suddenly you expect the capitol of the united states, the united states congress to be immune from this? that is completely preposterous. stuart: mark steyn sounding off right there. here is pete hegseth. peel, you were on this program yesterday. you were at the speech and you appeared from the speech. let me take you back. did you get any inkling that the crowd would leave the area where the speech was made and go straight to capitol hill and loot and riot? >> looting and rioting, no, we did see everyone the minute the speech was over start moving towards capitol hill. this was ultimately a seminal moment. this was certification of the electoral college. i had no thought in my mind. i heard nothing from the lips of

the people that was inevitable conclusion. mark steyn is completely right. when you see on tv the double standard, it is okay to riot during covid but you can't go to church. not just the hypocrisy of that, it is indoctrination of our kids. it is changing of gender pronounce on house floor, our open borders, canceling of individuals, the total suppression of entire stories. it is changing the rules of an election long before to create a freight train of a line for fraud or irregularities through mail-in ballots and lack of signature verification all those other things people look around, they say, listen my culture has been taken from me. i believe this republic is special. i appreciate what donald trump has exposed. it is not all about him but i'm grateful for what he has done. then you tell me my opportunity to change that is the ballot box, is to vote in the midterms or vote in the presidential. and now i have lost that? now that recourse i feel is

effectively rigged? what do we expect? it didn't surprise me what happened on capitol hill. i'm not saying it's okay. i'm just recognizing that frustration eventually creates moments, this has, this is nowhere near what antifa or blm have done for the last year. police were weren't being targeted at capitol hill. there were unfortunate confrontations. ultimately these demonstrates to were making a political statement. someone did lose their life by the way. i'm not calling for defunding the capitol police because someone made a tough call in a tough moment. this is entirely different view of a group sick and tired of way washington dismisses them. they feel like president trump listens to them which is something i heard from almost everybody i spoke to. stuart: but president trump is now tarred with the brush of what happened on capitol hill yesterday. he is associated that. he is inex-flickably, no, inevitably linked to it. i will ask this bluntly is

donald j. trump now done, finished politically? >> according to who is he ex-frickably linked to it -- extrickably linked to it. stuart: pete, i don't mean to interrupt you're a good man. >> it is okay. stuart: resignations all over the place. you have got stephanie grisham gone. matt pot tinger gone. mick mulvaney resigning from the administration. we've got, look, lindsey graham on the floor of the senate saying i have had a great ride with president trump it's over, it's gone, its done. i'm out. i'm quit. can he lead the republican party now? >> we've seen moments like this before, stuart where we've seen mass exoduses. people who say i'm done, i can't handle it. the question where are the people, where are his voters, the where are the 74 million people who voted for him on election day. ultimately i don't think they're watching the coverage of this feeling the same hyperbole the

end of the republic is nye. this is 1814. the british burning the capitol. that is not the response i've gotten from most people react to this. they don't condone violence. they don't want police officers being confronted, at same time they recognize the frustration of this moment. most people i talk to there, stuart, they didn't believe the election was going to be overturned. there were agitators saying mike pence is to blame. most understood this was going to change and ultimately joe biden was going to win but they still felt in a guttural sense that the system is rigged against them. one guy used a phrase i think is perfect. he said you know what donald trump has done? he created born again americans. not born again donald trump sycophants or consult cult members but the recognize their freedoms are fragile. that they were told on the lawn controlled by lies and conspiracy theories. they understand the first principles more than most elites on cable television. ultimately their frustration is

going to boil up. so it is you know, look inside of the capitol. we're looking at images right now. i'm not condoning violence, destruction but when you saw, blm around antifa, were they walking inside the rope line inside the capitol rotunda? this is ultimately who are trying to make a political statement because their voices are not heard. any violence is not okay. but i see where they're coming from. stuart: pete, we do hear you. i'm sorry for interrupting but thanks for being on the show. we appreciate it. >> you can anytime, stuart. thank you. stuart: you got it. thanks, post. now what for republicans? christian whiton is going to join us. he says just go with the best trump policies. that is the way forward for republicans. interesting point. he is on the show. the annual winter meeting of the republican national committee underway in florida, all about the future of the republican party. we're interested in that. we'll take you there too.

robinhood believes now is the time to do money. without the commission fees so you can start investing today, wherever you are - even hanging with your dog. so, what are you waiting for? download now and get your first stock on us. robinhood.

stuart: the republicans are meeting in florida. they're discussing their future.

interesting subject after yesterday's events. phil keating is there. he has this report. what have you got, phil? reporter: stuart for roughly 180 rnc members having a meeting at the beach at the ritz-carlton, they were already expecting a somewhat glum and ugly mood after what happened tuesday in georgia where both run off races did not go for the republicans. they went for the democrats, giving democrats in washington full control. but after the chaos that happened at the capitol yesterday, that suddenly shifted the tone down here to one more terse. share woman ronna mcdaniel seeking a third term here today, she is running unopposed, released a condemning statement without blaming the president, quote, what these violent protesters are doing is the opposite of patriotism. it is shameful. i condemn it in the strongest possible terms there is no place for violence in our politics,

regardless of which side you are on. evidence that the chaos that happened yesterday in washington could have actually been worse, the fbi is investigating two pipe bombs found, one near the republican national committee headquarters and the other near the democratic committee headquarters. those were discovered during all of the hours of chaos. it was discovered, one of them, next to a trash container. basically it was a metal pipe with end caps and wires running from the pipe to a plastic kitchen timer. president trump was expected to come here in person to address the winter meeting. that then changed. so he is not expected at this point. back to you. stuart: phil, we hear you. developments are coming thick and fast. i've got another one for you. this is breaking as of now, moments ago attorney general, former attorney general i believe, bill barr said that president trump's conduct was quote, a betrayal of his office

and supporters. he went on. more quotes, he says that orchestrating a mob to pressure congress is inexcusable. just said that, moments ago. we've got lawrence jones with us to comments on this. lawrence come on in please. seems to me president trump is losing support, left right and center. it is just crumbling. what say you? >> well, stuart i don't think the president is losing support based on his challenging of the election results or wanting to go through a legal process. i think he is losing support based on the conduct at the rally and then what in return happened on capitol hill. you know, you cannot disconnect the two. stuart: right. >> now, i will say this, is a lot of people have a lot of problems with the president but there are a lot of people that have been loyal to the president including mike pence.

the fact that mike pence was thrown under the bus and people were going after mike pence when he stood by the president's side, shows you where we're at in this debate. this is not a debate based on the merits. it is a, it is about are we going to be americans and stand for the rule of law or not? that is what it is based on and, i understand the frustration. hell, there has been a lot of frustration in the country. we've been going through 200 days plus of this. you got people on the left that are very upset about police brutality and abuses of the state. you got people on the right that are upset about the election and, what is happening in the lockdowns and all of that. everything is boiling over. which is why, what the president said mattered so much because it is our leaders job to have the tone to shift the conversation, to channel that energy to

something more productive. stuart: i would like to see the president come out and say he lost. he keeps coming out and saying he won. and if he keeps saying that, he is denying the truth. i don't think that helps. i'm sorry. i'm sorry that is the way i see it. >> that is a fact. that's a fact, stuart. it is a fact. quite frankly that should have been said a long time ago. stuart: yes, it should, it should. lawrence, terribly sorry. you know the hard break situation. i'm right on it right now. thanks very much for being on the show and responding to what bill barr just said. we appreciate that. >> thank you, stuart. stuart: busy day. lots of developments. more to come, i promise you that. more "varney" afterve this. . that's why we're a fiduciary, obligated to put clients first. (money manager) so, what do you provide? cookie cutter portfolios? (judith) nope, we tailor portfolios to our client's needs. (money manager) but you do sell investments that earn you high commissions, right?

(judith) we don't have those. (money manager) so what's in it for you? (judith) our fees are structured so we do better when our clients do better. at fisher investments we're clearly different.

if you're turning 65 soon, like me,l. you might be thinking about medicare. i know i want coverage that connects ... that's the aetna medicare advantage.

[background noises] >> is just a black day on the country. >> i would like to see the president is forcefully denounce the violence as we had to over the past year. >> i think most of us need to stop being so surprised the markets to respond to news events because that's getting investors in trouble. >> the markets are not about emotional and political outfall. the markets are all about what is going to happen with the economy. >> government money is a very short term and in my opinion, foolish way to think about economic recovery.

>> this is all borrowed money. >> i think it is fundamentals and easy money driving this market. stuart: alright, we're not playing the usual lively music this morning and you know why. this is thursday, january 7 and i will call it the day after. we've got news happening constantly. breaking developments and here is the latest. moments ago former attorney general bill barr said president trump's conduct during the capital held riots was quote, a betrayal of his office and supporters but very strong language and also said, orchestrating a mob to pressure congress is quote, inexcusable. we've also learned that the devices found near the republican and democratic national committee headquarters, republicans and democrats, were found yesterday were real explosive devices. viable devices. not clear who place them but

there is an investigation underway of course. after the markets, look at that. green across the screen. despite the washington riots, despite the democratic takeover of congress that is a rally. and now this, starting around 1:30 a.m. eastern afternoon the shocking scenes unfolded and it was painful to watch because the heart of our democracy was under attack. later the jon ossoff when in georgia confirmed the democrats' leap of power and a blue culture transformation in a matter of hours. and yet, by 4:00 o'clock yesterday afternoon, 4:00 p.m. eastern the dow was up 400 points setting a new record high. in the middle of political chaos the market rallied and it's continued to rally today. have you seen this? up 340 now. why? there is a straightforward answer to this and the answer is money. vast amounts of it. it's thrown into the economy and

a lot of it will find its way to world streets. yes, there may be tax increases for businesses and wealthy individuals and their meat be a capital gains tax hike and more robustly state taxes due and there may be new regulations which hurt businesses but all of that takes a backseat when the federal reserve is printing by the trillion in the government is stimulating by the trillion. it's a mountain of money and we never seen anything like it on this deal before. it is strange that all the spending that the socialists want is actually good for the markets which they so detest. but that is the way it works. you never been here before so we can't be sure how it all works out. bitcoin goes above $39,000 a piece and is that a sign of trouble to come? national debt is exploding and it will soon cross $30 trillion, much more than the value of the entire economy, sure looks like a debt bomb in the making but

for now it is make hay while the sun shines. on wall street gushers a money beach mountains of debt. the third hour of "varney & co." is about to begin. ♪ stuart: here is more breaking news. as of now, mark zuckerberg is saying facebook and instagram are blocking president trump indefinitely. it was supposed to be 24 hours but they've extended it indefinitely and the president has been silenced. let's bring in heather zumarraga. what is your reaction to this, heather? not to the mountains of money but the president's silence here and what is your reaction to that? >> this is one of the most aggressive actions yet taken by social media company and we already know it's been blocked for at least 12 hours on twitter not banned indefinitely from facebook but i think mark

zuckerberg is thinking from a position of the backlash he's received before at least from the left for not doing enough to police or in terms of covid misinformation or hate speech in the past and although i don't think it has anything to do with some of the issues in the past this is very aggressive. i don't think it's the best action to take by zuckerberg because the president will find another avenue but look at twitter, they banned the tweets that is not official but some of his posts with social media director are coming from the president and president trump will find another avenue to get out whatever he's trying to get out to the mayor and people. stuart: you seen the rally yesterday and again today heather we've been saying all morning that the reason for this rally is all the money being chucked straight at the economy, printing by the fed, borrowing by the government. money is going out into the economy. do you agree with that? is that the prince of a reason rally despite with happening?

>> absolutely. if you woke up today and saw the dow up over three and a 40 points you would think oh my gosh, how could that be despite all this unrest and i think two reasons but number one, certainty so despite this blue wave and republicans may or may not be happy about that it provides certainty for the market and the policies going forward and remember, they don't have a majority of one but most legislation in terms of the green new deal and perhaps even higher taxes will take at least 60 votes out of the senate and the second reason is because of all the money printing, college relief aid and we know that the democrats have said this is just a down payment. this next phase is part of the cares act and the first round of the cares act 60% according to the congressional budget office went to boosting economic output and that means spending so people get this money and spend it in the first quarter and you see that go into the stock

market and go into the economy but it will have a long-term consequences but we just haven't seen any inflation it. stuart: yes, short-term big rally, who knows what the consequences are a little way down the road. we shall see. you will be back to cover it for us, heather and we thank you for being here today. good stuff. let's get back to the riot. i will call them the riot, insurrection on capital yesterday. want to bring in christian whiton who often comments on the political developments for us and we value your opinion. christian, there's a lot of resignations today or as of yesterday as well, stephanie grisham, matt pottinger, mick mulvaney and we just heard bill barr who was a staunch supporter of the president coming out with a strong statement against the president. do you think it's time for republicans to ditch donald trump as the leader of their party? >> well, no, that will happen in the ordinary course of time two

weeks from now when he ceases to be president and at that point he'll be one of many contenders for the heart and soul of the republican party. that is the debate that will go on for probably four years and certainly two years until some sort of leaders began to emerge in the next congressional elections in 22 and then we have a nominee in 24 and until then step back from the events in the last 24 hours and there was already going to be a fight for your already seen republicans, especially beltway republicans and the establishment want to turn back the clock to before donald trump was president and frankly want to be the chamber of commerce party and the free-trade party again and forget what trump has done which is take the party to be more the party of the common man and the disenfranchised of the canceled so that's a process that will go on. i do think donald trump i think it was important that he put up a fight with some of the irregularities of the election but it's gone far in the last couple of weeks and then is

weakened his position at long-term influence activate. stuart: do you agree that president trump lost georgia for the republicans? >> no, i don't. i think that was lost by two establishment candidates who had a voting record that seemed to tag them with allegiance to donald trump but were very unlike donald trump and listen, you can come from the elite as does trump and stands for the forgotten man and that's what trump did and that was his innovation but kelly loeffler had a successful biz is career in her own right but whose lucky break was marrying the person who is not president of the new york stock exchange and purdue who made his mark and frankly in exporting manufacturing jobs to asia as senior official and then these people were not really lending themselves to the sort of insurgent blue-collar donald trump approach and they did not excite trump supporters and they were absent and we were talking about earlier the year the

terrible activities of yesterday but how about when you had and he fought and blm laying siege to the white house or run bureaucrats across the country were telling us you could not leave home to go to church or go to school or go to a peaceful protest against lockdowns but you could go to the liquor store or pot store or casino and people like purdue and loeffler were absent from that debate and they weren't fighters bid they are country called the publicans are think that's where they lost. stuart: here is a problem with that. it's developed in the last few minutes. zuckerberg at facebook says the president is banned indefinitely from facebook and he can't get back on twitter unless he removes previous quotes. i'm not even sure what his status is on twitter. the bottom line is he has been a silenced and i find that a problem. last 20 odd seconds to you. >> yeah, this is another terrible mistake by silicon valley. if someone believes they are so important then give them a podium so they can collapse

themselves and trust the people to make a judgment. when you son's or someone you're secretly giving them a platform and making them more prominent and expressing that your own point of view was weak when in fact, it could be strong. stuart: got it. christian whiton, thank you for joining us and we will see you again soon. as i said, develop as our coming quick and faster with tesla, stock is almost at $800 a share and you know what? elon musk has a new title. susan: richest person on the planets. 5% rally close to 6% rally so according to bloomberg he's now worth $188 billion overtaking jeff besos of amazon who has been the planets richest sense 2017 and elon can thank the seven 100% rally for the past year despite that like all the money that elon musk has yesterday he spoke to dave barch school sports and he said he can't get cash from elon for his small business charity tweeting

this, i met with elon's lawyer yesterday and lots of talking but no donating and step it up and as he said he wants to shake down of all these super uber wealthy people and help out the small business and the small guys that need it but musk making the bulk of his money, 150 billion added this well. stuart: he's worth $188 billion as of now in total in the stock hit $800 a share. thank you, susan. the news is that changing by the sec. and we are on is. it's happening quick and fast. wall street journal daniel manager says donald trump has likely done irreparable damage to his political career and his legacy. he's on the show to talk about that. but first there is momentum in the recall efforts against california governor newsom. stay tuned for that story. it is coming right at you after this. ♪ ♪ (ringing)

- hey kaleb, what's up? how you doing? - hey, i'm good, guess what, i just had my 13th surgery. - really? i just had my 17th surgery. - well, you beat me. - well, i am a little bit older than you. - yeah it's true. how are you doing? - i'm doing good. i'm encouraged by seeing how people are coming together to help each other during times like these. - kind of like how shriners hospitals for children

is there for us. imagine if i couldn't get my surgery. who knows what would have happened. - same for me. i know my shriners hospitals family will continue to take care kids like us who need them most all because of caring people like you. - like me? - no, the people watching us right now at home. - oh, those people. hi people. - kaleb and i know not everyone can help right now, but for those of you who can, we hope you'll this special number on your screen right now. - you'll be making sure our amazing doctors and nurses can keep helping kids like us, who need them now and in the days to come. - your gift will make a huge difference for kids like us. - ooh, ooh, show them them the thank you gift. - okay, okay, hold on a second. with your gift of $19 a month we'll send you this adorable, love to the rescue blanket as a thank you and a reminder of the kids you're helping with your monthly support.

- so what are you waiting for? you can use your phone and call, or go to loveshriners.org to give and join with thousands of other generous people who change lives with their gifts every day. - i think that's about it buddy, good job. - my pleasure captain. please call now. if operators are busy with all the other caring people, please wait patiently, or you can go to loveshriners.org to give right away. - [alec] big or small, your gift helps us all. - [both] thank you. (giggling)

stuart: updates, more than one move people have signed a petition to recall california governor gavin newsom. tom becca is here with us. i believe that that petition it needs 1.8 million signatures and i've heard that number 1.8 million signatures by the middle of march and are you going to get those signatures? >> 1.8 million is our goal and we need 1.5 million verified signatures so we are well on our way to getting that and as you rightly point out the momentum is picked up while washington dc may be going left and

californians are in search of common sense. we think we will reach our goal at rescue california .org. stuart: let's go through the timeframe here. suppose you get the signatures you need and you get them by mid-march, success. when does that recall efforts actually go on the ballot against and gets voted on? >> we project that there would be an election in august which is a standalone election that is what is really important. it's the only thing on the ballot should gavin newsom be recalled, question number one and question number two of the list below who should be elected the next governor of california and then gavin newsom would be removed within ten days. stuart: tom, let's refer back to what happened in washington dc yesterday. it is my opinion that the president trump has been charted by the brush of the riot on capitol hill. as a republican, leading republic in california, how do you feel about his continuing leadership of the revolver can

party? >> look, the republican party is headed towards a power struggle. anytime you lose the white house the party going out struggles for a number of years and we saw that with the democrats after obama and we sought after bush 43 and you will see this again. the republicans nationwide, especially in dc need to understand the electorate is different than it was before. it is impatient and does not support big government and so those in washington need to understand that the trump phenomenon isn't going away and whether or not he is in charge of the party, whether or not he runs again those voters still exist and you can't do things the way they did 20 years ago. stuart: real fast, governor newsom proposes a 600-dollar what he calls golden to state stimulus for people making less than $30,000 a year and included in those payments are illegal immigrants. what to make of that?

>> look, he's got all kinds of programs and spending coming out in response to the recall and he just is trying to buy votes. problem is people want to work and that's a cross aboard and why we are having that success at rescue california .org. stuart: i think that's a third time you got that in. well done, gotten big thank you for joining us, tom pitt you know how to use me. >> see you soon. stuart: back to that breaking news that we are reported at the top of the hour paid facebook and instagram banning the president indefinitely. susan, what exactly did zuckerberg say? >> he said that in light of the shocking events he said over the past 24 hours he says president trump depends to use the remaining time in office to undermine peaceful and a lawful transitional power so if we can bring this up we believe the risk to allowing the president to continue using our service during the time in his remaining time in office are simply too great and therefore we are

expending the block and have placed facebook and instagram accounts indefinitely for at least the next two weeks until the peaceful transition of power is complete. as for twitter we have a spokesperson and we asked them what they will do and we will continue to monitor the events and evaluate the situation in real time and that includes examining activity on the ground and statements made of twitter but keep the public informed including a further escalation in our enforcement approach is necessary and as you pointed out twitter has suspended the trump account for the past 12 hours until they remove two posts they say violate their services which they have. however, we are not seen the unlocking of president trump's account just yet and i should remind you that this is the first time ever that twitter has taken the step to lock the account but wouldn't you say they are in a precarious situation, social media giants? is a lose lose and they're getting it from both sides, the

right and the left and if you're a free market you can make the argument that mark zuckerberg built this incredibly successful and popular social websites and people are flocking to it so why should be we regulated like a utility in the government. stuart: i agree with all you said but the bottom line right now is the president is silenced and can't use his twitter account and can't go on instagram or on facebook and the man is silence. not sure that's a good idea but i like to hear from the president at this moment in ti time. susan: it's a free freedom of expression breach. stuart: difficult question though. it really is. rock and a hard place. thanks, susan. let's look at american airlines prayed they've announced new policies in the wake of the riots but what is this all abo about, actually? ashley: it turns out to political aggression is common as we know these days but even at 83,000 feet american airlines says it is taking several new precautionary measures,

including no longer serving alcohol on flights to and from washington dc. there have been several ports of flight attendants having to confront politically aggressive passengers. airline union leaders say they are aware of incidents on multiple flights headed to dc, flight attendants are now being asked to remain extra vigilant on flights departing from the washington dc area at least for the next few days if not longer. stuart: it really is a disturbing story. politics is toxic these days in any public discussion has real dangers attached to it. how would you like to be in a plane at 30,000 feet and they are and you a vicious political argument going on run one row ahead of you. you don't want that. thank you, ashley. less than half -- this is amazing, less than half of chicago public school teachers showed up for the first day of

in person learning this year. the teachers union says it's unsafe however, a brand-new study tells exactly the opposite story and we've got the story and the numbers for you. moments ago republican congressman adam can sing are called to remove the president is in the 25th amendment and he is a republican and wants to get him out of office. daniel henninger on that next. ♪ ♪

stuart: i called the vice president to make sure the next few days are safe and we have the same captain in the ship. it's four of the 25th amendment allows the majority of the cabinet and vice president to assume the duties of the office of presidency until the president is able to himself. it's time to invoke the 25th amendment and end this nightmare. stuart: you heard that. that is a republican adam kinzinger and wants the vice president to invoke the 25th amendment and remove donald trump from office. then we've got this as well. an op-ed by "the wall street journal" daniel henninger says amid the electoral college

challenge the president is putting the substance of his achievements at risk. daniel henninger joins us now. we heard from daniel kissinger and heard your editorials so do you think that donald j trump is finished politically? >> oh, i do believe that stewards. he is finished at the national political level which is to say i don't think he can ever win again or get more than 50% of votes of any election then he is in. his supporters have to come to grips with that reality. having said that, what congressman adam kinzinger is expressing on one hand wholly impractical and on the other hand doing that or even going down the impeachment path as some others are suggesting would to me, ensure that republicans would lose the election for a generation. if they take those formal steps it ensures that some significant

percentage of republican voters would never vote for republicans again and they would never be able to win. i think the better course is to let the president's are about to storm let this fade away eventually and hope that some best parts of his legacy can be preserved. make no mistake the left is arguing and some people are arguing that there was never any difference between donald trump personally and the substance of his policy. trump has discredited everything he has done whether it is taxes, school choice, education, foreign policy all of that now stands discredited because of these actions. i don't think conservatives or republicans on the one hand want to defend trump further but on the other hand they do not want to sell themselves into the wilderness for a generation by taking part in a formal action like impeachment or invoking the 25th amendment. stuart: developments are happening thick and fast as you

know, danford former attorney general bill barr has said that the president's conduct yesterday was a betrayal of his office and supporters. we have stephanie grisham, mick mulvaney and matt pottinger leaving via menstruation in various ways and we got the president silenced on twitter and facebook. it seems like his position as leader of the republican party is absolutely crumbling and going away. it is disappearing as we speak and may be done by the day is out and have i gone too far here? >> in fact, not really. i think his position as president of the united states is also crumbling and there will be more resignations and probably no way to stop that. i would argue though stewards, i think robert o'brien, national secured advisor should not

consider resigning, nor should anyone else that is working in national security, whether in the white house or in the pentagon. look, we have enemies out there and we have chinese that have designs on taiwan and we have a volatile situation in the middle east with the iranians. thirteen days is a long time and anything can happen. if it does, if the president because of his obsession with his loss and not able to function we need other people to be able to step in there, stay in office and execute during this time. as for the president, he has said there will be an orderly transition and seems to be in a funk and i think probably the events of yesterday are beginning to sink in on him and that the goal now is to get through the next 13 days, transition into another administration and look, this is politics, stuart. there will be a lot of rubble politically to deal with after this and that is what we are in this business for is to try to

sort through those puzzles and problems and the republican party is going to have to do that with or without donald trump. stuart: i will get your reaction to a soundbite that i will play from cnn with anderson cooper. he's reacting to the riots yesterday. roll tape please. >> they will go back to the olive garden into their holiday in that they are staying at in the garden marriott and they will have drinks and they will talk about the great date they had in washington. stuart: you know, dan, is a former englishman i know what it's like to be looked down on and i got the distinct impression that anderson cooper is looking down on people like me and i don't like it but what do you say? >> i say what anderson cooper decide was disgusting and repellent and you're right, they do look down but here is the larger issue that anderson cooper and people like him have contributed to it we are at a

point stewards where our politics is beginning to devolve to the level of mob rule, whether it is the right or the left. we know what happened in this country from may onward. and the amounts of protests, fires, looting's across america in the anderson coopers of the world and the democratic party was silent throughout that time and they are they are the ones we've enabled our politics to descend to this level of mob violence and it will be very difficult to push back against that and if people in positions of institutional authority like him and these other cnn anchors do not start resisting and calling people to account we will continue down this course and you know how mobs operate stewards, mobs were problem throughout english history and mobs were a big problem in the early history of the united states and getting them under control is what we are in politics to do. stuart: to change the subject

entirely bearing in mind the democrat sweep of congress i think that it looks far more likely now that the badly run democrat states, new jersey, new york, illinois and california will get a major bailout and that is my production peered what say you? >> i think that the odds are very good that they will get a major bailout. perhaps stewards it would be in the form of the tax bill which restores the deductibility of state and local taxes and that would be one of their biggest bailouts lease for individuals leading or living in those states but make no mistake, that has been their goal for the entire debate over the coronavirus stimulus is to get bailouts for the budget deficits in those three states and now that they do control the senate and they only need a simple majority to pass those budgets i think it's a very real possibility. stuart: daniel henninger, thank you for being on the show this thursday and we always

appreciate it. we will see you sir, dan. >> thank you, stuart. stuart: i will show you what if i got to? that is governor cuomo in his mask and wants to legalize online sports betting. he needs the money and needs the tax revenue. christina is with us so what kind of timeframe is governor cuomo talking about here? >> he will announce details next week and this could take a while to roll out but you just hit the nail on the head and this is bringing money into the state. finally he is embracing legalization of sports gambling after years of opposition and says they want to have one sports operator or platform linked to a casino and you can understand that this is fueled by the multibillion-dollar deficit that is in the state right now primarily due to the pandemic and you also have neighboring new jersey that is dominating the market when it comes to online betting and once study shows 20% of the total

sports betting in new jersey comes from new yorkers who are crossing the border which is why governor cuomo put out a statement quote sane, new york has the potential to be the largest sports wagering market in the united states and by legalizing online sports betting we aim to keep millions of dollars in revenue here at home. that is the key right there. the sports market is evolving quite quickly in q3, latest numbers we got for 2020, you can see it's up 48% year over year and everyone has taken to gambling online with consultant firms that predicts two thirds of all states will legalize sports gambling in some form by the end of this year which is why you are seen stocks on your screen that it benefited quite nicely over the last little while and mgm and again limited and i will end with this, stuart. to bring it full-circle to your point, sports betting is illegal ligation process happens here it could bring potential $300 million in tax revenue

dollars. game on. stuart: and they needed. christina, thank you indeed. they really need it. i will bring up a subject that we've been on the air now for two hours and 37 minutes and this is the first time that i've mentioned the vaccine, the virus or moderna. i'm not so that in ten months or 11 months and we always have that story but today it is in the backwater of our show even though despite what is happening look at this, moderna is up-to-date and the ceo has revealed how long their covid vaccine will protect you from the virus. we've got details on that. first mention on the show in this half-hour, violent riots on the hill were a major breach of security. how to stop it happening from again? tom homan on the show with that next.

♪ ♪ there are many names for enthusiast. but there's only one way to become one... by going all in. the new lexus is. with a lower center of gravity, a more responsive suspension, and an aggressive wider stance. this is what we call going all in on the sport sedan. lease the 2021 is 300 for $359 a month for 39 months. experience amazing at your lexus dealer.

some things are good to know. like where to find the cheapest gas in town and which supermarket gives you the most bang for your buck. something

else that's good to know? if you have medicare and medicaid you may be able to get more healthcare benefits through a humana medicare advantage plan. call the number on your screen now and speak to a licensed humana sales agent to see if you qualify. learn about plans that could give you more healthcare benefits than you have today. depending on the plan you choose, you could have your doctor, hospital and prescription drug coverage in one convenient plan. from humana, a company with nearly 60 years of experience in the healthcare industry. you'll have lots of doctors and specialists to choose from. and, if you have medicare and medicaid, a humana plan may give you other important benefits. depending on where you live, they could include dental, vision and hearing coverage. you may also get rides to plan-approved locations; home delivered meals after an in-patient hospital stay; a monthly allowance for purchasing healthy food and

beverages; plus an allowance for health and wellness items. everything from over the counter medications and vitamins, to first aid items and personal care products. best of all, if you have medicare and medicaid, you may qualify for multiple opportunities throughout the year to enroll. so if you want more from medicare, call the number on your screen now to speak with a licensed humana sales agent. learn about humana plans that could give you more healthcare benefits. including coverage for prescription drugs, dental care, eye exams and glasses, hearing aids and more. a licensed humana sales agent will walk you through your options, answer any questions you have and, if you're eligible, help you enroll over the phone. call today and we'll also send this free guide. humana, a more human way to healthcare.

[background noises] stuart: in light of that we've got to breaking news all over the place today and this one is coming at us, chief of the capitol hill police said the officer involved in the shooting yesterday has been placed on a ministry of leave and his police power have been suspended pending an investigation. all of that involved the death of the working year veteran air force veteran at the capital building yesterday. there is more, we are also just learning that chad wolf, acting homeland security secretary has had his nomination pulled.

that is because wolf urge the president to denounce the violence and urged him publicly. the president did not like it. this administration is not looking good at this point. former actor ice director tom homan joins us now but let's go back to this breach of security on capitol hill. a major breach. was it a failure of the capitol hill police and his leadership? >> it was a failure of leadership. look, i know these capital policeman and dealt with them as ice director. there are the finest law in force of their admin women whose kevlar vest everyday and protect people in that building and people that don't like them and want to defend the police and don't like law-enforcement but there life on the line to protect people in that building so they did a great job and if you look at that film yesterday they stood in harms way and they stood there and got attacked and got hit and spit on and they

can't run and hide. the job is to protect the people in that building and after the breach they put a shelter in place to protect these people so at the end of the day no conga cement was hurt and they did their job and did it well but the problem is leadership. the leadership did not take this event seriously and they did not have proper staff and did not prepare for what was coming and should have. they should have. that's a failure of leadership. stuart: i've got to get to these resignations and all these being forced out. former attorney general bill barr has condemned the presidents statements about the riots yesterday. chad wolf is no longer nominee for homeland security secretary and stephanie grisham is gone, matt pottinger is gone, mick mulvaney has said he's resigned from the in ministration and i got to tell you as a guy was in the administration this

administration seems to be falling apart. how do you feel about that? >> well i'm shocked and hurt. look, first of all, they all serve at the pleasure of the president we all understand that but i think what is going on stuart, you can't lay all this at the feet of the president for gods sake. if you look, they threw molotov cocktails and pipe bombs in various locations. there are people that came to dc to do harm and no matter what the president said at the rally or didn't say they came with these weapons. there is a certain group of people that were going to do harm and we don't know who they are and hopefully we will find out through investigations but you can't put it all at the president's feet. a lot of the same people that are screaming and yelling from the left never said a word about the riots in the burning and looting and in washington state and new york and in chicago and in washington dc and they burn a church next to the white house and you do not see this anger.

i understand capitol hill and the blessed institution and i'm angered by what happened yesterday and everybody was involved in breaking and assaulting the cops and they need to be prosecuted but what is unfair to put all of this at the president's feet people are angry and over 70 million people are questioning the election and we've always taught them if you don't like what's going on, go to the ballot fox and vote people out or in but they feel like that will take them away because now you're not getting answers and i say the next step should be if president-elect biden wants to bring this country together and unify like you said and be everybody's president let's have a third party special counsel investigation into elections and let the people know was it legit or not legit and tell us what you find out and if people want answers and information and they want to make sure that elections from now on will be fair and the only way to do that is to answer the questions. stuart: time, we do hear you and value your presence on this program. tom homan, thank you for being here today. i appreciate it.

let's get to the virus and the vaccine at long last. moderna ceo has revealed how long the vaccine will protect you against the virus so what have we got on this, ashley? ashley: he says the vaccine is likely to protect you for up to a couple of years but the keyword in that line is likely. there is more data needed to make a definitive assessment. moderna's vaccine just received approval for its shot from the european commission yesterday but there are still questions over how long the vaccine can actually divide protection. in the meantime, moderna's ceo says the company is about to prove its vaccine is also effective against variances of the coronavirus that we've already seen in britain and in south africa but not a definitive statement on how long this could last.

maybe to give you protection may be a couple of years but no real hard data yet. stuart: what we want is lifetime protections we don't have that flu shot every year. thank you, ashley. do you were member this? cardboard fans filling the stands at baseball stadiums around the country? with things ever get back to normal? we ask former baseball star darryl strawberry who joins me next, more varney after this. pay off my student loan debt. they were able to give me a personal loan so i could pay off all of my credit cards. i got my mortgage through sofi and the whole process was so easy. ♪ express yourself ♪ ♪ express yourself ♪

♪ express yourself (announcer) do you washed pounds? stress? do you want to flatten your stomach? do all that in just 10 minutes a day with aerotrainer, the total body fitness solution that uses its revolutionary ergonomic design to help you maintain comfortable, correct form. that means better results in less time. and there are over 20 exercises to choose from. get gym results at home. no expensive machines, no expensive memberships.

go to aerotrainer.com to get yours now. stuart: you know this guy as a new york mets hall of fame kind of guy right fielder, darryl strawberry. he's got the book from a new, called turn your season around how god transforms your life. darryl strawberry has been on the show before and is on it again and here right now. darryl, let me cut straight to it. i know you had a very difficult early life and a difficult life as a player and right after that. was there a moment when god transforms your life? spirit yes, it was great thank you for having me. there were several moments that god has always spoken to me and i just did not answer the call and finally i answered the call through my wife who led me back to the lord and my mother had been praying for me for years and so she was leading me back and guided me to the right place

and being in purpose and doing what god called me to do. once i got back into church started getting serious about the relationship god has set me for seven years and i was grateful for seven years because of the discipleship and understanding of how to follow biblical presence. stuart: was there a moment when you felt and tell me about that actual moment if there was one when you felt it was tough. >> yeah, i felt touched when he called me 12 years ago and was 12 years ago when he called me to start preaching the gospel. i just knew i wasn't qualified but was moment sitting in my apartment in new york and they spoke to me about he wanted me to get into ministry, full-time ministry, and walk away from everything and start preaching. i said i'm not qualified and he said i qualified the call and i knew it was from him. i went to saturate myself in a word with the holy spirit and started filling me with the bible supernaturally. stuart: have got to get to this.

we know you as a friend of president trump. you have any comment on what happened yesterday? >> i'm totally disappointed with what is going on in this nation and it's hard for the president to move forward and move on and let the new come in and let the healing begin. everyone needs to be healed at this point. it's very difficult situation in the nation and we are divided, broken and brokenness is real, lawlessness is real and what we are seen as sin but yesterday was unacceptable and it should not be like that we need to make the change and move forward. 2020 is over, 2021 is in. let's go in with the new and make changes for this nation. stuart: have you been a stone cold sober, clean and sober all these years? >> i have. i'm never totally lived a different life and separated myself from the worldly things. my heart has been transformed i'm totally committed to god's pencils and god's ways and his purpose. an understanding that when god -.

stuart: i'm sorry to interrupt you but i've known you for years and you are now a very different guy. congratulations to you and a great book. darryl strawberry everyone. >> thank you. stuart: hard break coming up, got to go. come back soon, darryl. don't be a stranger young man. more varney after this. . .

stuart: more developments. senator lindsey graham just announced he will be holding a press conference at 1:30 eastern time to discuss the course of action to follow. remember please yesterday on the

floor of the senate he said he was done with the continuatino of the election dispute. he said i'm done. i'm gone. that was lindsey graham. presser at 1:30. what a day. ex-prodder nary developments the last three hours. i'm sure there is more to comb. neil cavuto. it's yours. neil: your exactly right, lindsey graham stuff that is the 108 the likes which we've not seen well since 48 hours ago. stuart, we're following all the developments including markets running ahead of records here. dow, s&p, nasdaq trying for the day, we're keeping eye on that. a lot is relief it is over. craziness yesterday is over. a lot of questions being asked, d.c. mayor muriel bowser looking what happened here. what we can do to prevent that. we're learning the national guard will have a presence in the d.c. area right through the inauguration, through next two weeks an