Transcripts For FBC Varney Company 20180110

There will be no washer drilling around florida appeared governor rick scott and republican senator congressman didnt want it. Its not going to happen. In florida. A judge in San Francisco the president plan to an protection for, so yet again a California Court tested in the way of mr. Trumps immigration plan. The liveaction presidency later this morning. Will it be open to the cam is like yesterdays meeting on immigration . Weve never seen anything like that before. The president showed the world how he negotiates. Will he do it again today . Later he greets norways greater it will open up to questions from the media that will be more liveaction. Ive got to tell you, you still cant get over mr. Trumps visit to dallas. Im a change come income inequality and open borders. Give them, mr. President. Varney company is about to begin. Stuart well, fires, then storms in a deadly mudslides in california. This is the golden state taking it on the chin recently. Ashley yeah, we now have the death toll up to 15. The number expect it to client. Look, mudslides come the same area devastated by forest fires. They produced all the vegetation just leaving not exposed with a stone that brings in four or five inches. The water has nowhere to go when it swept away dozens of homes treated as if a committed death death toll 15 minute believes many more trout. Its difficult to get into the area. This is just east of santa barbara, one of the most desirable neighborhoods in the country, but also an area beset. The rescue efforts go on. Tree into another hit. Lets get to the markets now. Red arrows all around. First time the dow will open this calendar year. Chief faces with us. Give me a simple reason. I think its because of higher Interest Rates as to why this market is down today. Two things at higher Interest Rates are driving it, but heres my welcome today set to beauty. A sign that the working normally. You have to have buying and selling. It are positive refreshes. Stuart nothing to get worried about. Is that what youre saying . Too early to get worried. If they were out in the street id be worried. Traders i talked to around the world before he came and camera are not concerned. They simply take a breather, take money off the table, looking importantly where they want to put their money for the balance of the year. Tree into so come are you telling me to people you talked to say by this tip . Yes, they are. They are trying to figure out what they want to buy an ipad price points. In the meantime, this is walking away from the bid. They are not buying, but then again not donating things wholesale. Youve got this pause at 90, 100 points had this volatility all day long and not even think twice about it a decade ago. Tree into i cant resist asking you about the president and i was in the World Economic forum. Look what he had to contend with. The top guy, the organizers said President Trumps leadership is worrisome. Frankly, i cant wait to see our president step for and downloads and go after them. What about you . Im so with you. This is just an april fools, halloween and the dystopian universe it about time these guys get upset in davos. The applecart needs to change. Stuart im glad youre with us. Stay there. Well bring you back when the market opens. Keep the faith, everyone. A federal judge in San Francisco barred the Trump Administration from turning back the obama area daca program. Judge napolitano is here with that. Im not interested in the type of a legalistic details. Im interested in pointing out the California Courts consistently stand in the way of the authority and immigration. This actually helps the president and he should welcome it. One of the issues yesterday at the media and the cabinet room that captivated all of us was that we have a month and have to resolve this. Guess what, he now is six months to resolve it, which is a lot more time to put together this sort of big picture, comprehensive reform that he wants. Daca stays in place. No heat on the president. Its in place because a life tenured federal judge. Tree into that hes got to get the war and the end of chain migration in the end of lottery system in return. This is not a permanent ruling by a federal judge. This is a temporary ruling, keeping daca in place until Congress Writes a new law or until the courts decide that they should no longer be temporary. Tree into im sorry, im suspicious of this. We have Court Rulings coming out of california casino, mr. President , you can do this come you cant do that. The Supreme Court of the United States saying under the constitution the president makes Foreign Policy and the president has the discretion to use deportation, the power to deport to further Foreign Policy. Trust me, this is a breather at the donald trump should welcome because it is not he who will take the heat for bringing about the breather and it gives them more time to negotiate. Why did the judge do it . The statement donald trump said through his presidency like i like the dreamers. I might want them to stay here come the statements that we believe he set for negotiating purposes. Every time he says that come to the courts say is a really serious about getting rid of daca . Look at what he said yesterday. We can take care of daca. Tree into im sorry, you cannot base a federal court ruling on the basis of what the president said in an offhand manner. You cant do that. Except this president says that what he says in an offhand manner are official statements from the president and the courts will continue to do that. Do you want to know the real craziness here . The plaintiff is janet napolitano. No relation to me. She is arguing that her order for daca should be the law of the land and not the new order signed by her successor, the secretary of homeland security. Tree into the deep state hold screwed things up for now. Again, she and i are not related. Tree stuart can he replace some of this leftist judiciary in california . There are two vacancies in the ninth circuit and i wont mention names because its not in the public yet. Hes narrowed it down to five people. Guess who gets to approve the side before he picks the one he wants . Senator feinstein. Thats the way the system works. Tree into you made your point. Come back at 11 00 for more. Im coming back even sooner. Another benefit of the tax deal. Several major utilities have announced plans to cover it for consumers that are giving back to their customers as opposed to their employees with offices. Liz we were talking about the break yesterday. They were going to lower their Customers Energy bills. Now we found five more, talking half a dozen utilities across the country in places like oregon, utah, north dakota, illinois along with mayor lindh lower their energy bills along the tax cuts, specifically citing the republican tax cut. They also found two bags. Think of colorado is basically going to pass along the tax cuts in the form of higher money market rate and no suki citibank in north dakota, minnesota with half a Million Dollars along with giving bonuses to their employees. Its 130 right now. Remember nancy pelosi said armageddon, msnbc, cant afford these companies. The president is sitting on a cash pile. They were afraid. Now they are unleashing it. Tree into both the democrats run on raising taxes all over again . Ohios tim ryan wouldnt answer that. Stuart i wouldnt agree more with lizzie. They are giving out little bits of money, but its still a tax cut for the rich and corporations. You know its coming but i dont think people are buying it. Train for everybody at comcast and nbc computer bonus back if you believe that. Tree into a million americans have gotten a bonus because of that. Wait for it, ive got news on kodak. I do. Way back when. What is the news . They are taking on some ford. Theyve got plans to create a new crypto currency called kodak wine. Look at that stock up 77 . To national politics. South koreas leaders said President Trump deserves big credits to the negotiating table. What a switch. We are on it. President trump is on board with getting daca done first and then moving on to comprehensive Immigration Reform in building the wall. Do you believe those promises that well do it later . Bubble congressman Louie Gohmert say about this . Hes on the show. Stuart listen to this. Knowing delivered a record 763 jetliners bustier and they have got orders for another 912 plays. That is why the stocks been on a tear doubling in the past 12 months. Only way i find it europes airbus. 317 this morning. Financial times report fox business 21st century fox purchasing are finalizing the purchase of 10 tv stations for the sinclair broadcast group. More details coming out. Want de the priority right now. Roll tape. I think there needs to be a willingness on both sides. What about acclaimed daca bill now with a commitment that we go into the comprehensive Immigration Reform procedure. We are going to come up with daca and then we can start immediately on phase two which would be good. Stuart though, daca now on a promise we will build the wall later. But with Louie Gohmert, republican from texas say about that . I cannot believe promises that we will do this now and build the wall later and you cant either. The same thing Ronald Reagan said was his biggest mistake and it was. The chance is if we do daca what they want to secure border leader Chuck Schumer saying black conservatives are the most brave people in america is just not going to happen. You look at the reasons for President Trump. He is trying to reach out. Hes trying to be gracious, but we have got to recognize this is not a fair fight if we dont stand for what reagan regretted not standing for insane secure the border, get the wall built where we need it and then we will work on who is here. Its not going to happen and we will have the next congress to keep coming back again and again in doing more and more amnesties until there are so many people voting here that have no clue about what it takes to keep liberty in a representative government. Stuart do you feel the same way about the president s suggestion of bringing back earmarks . Now thats a whole different matter. The power of congress is the power of the purse and its the worst time in American History congress added and i was totally in support of a temporary moratorium on earmarks because it was so badly abused. All of these monuments to me had to stop. But we are the ones who should be put in the specific line items in that appropriations bill as to where the money goes. Not the bureaucrats. First time in history we get stacks of money to the Obama Administration and then we send them saying this is where the money would go. Please, please use this for this appropriate federal project. We shouldnt have been begging men. That is our authority and why a friend in louisiana congressman said he was talking to a corps of engineer guy and said this is not which you were supposed to be doing. We dont care what congress thinks because you dont tell us where the money goes anywhere. The only way we will reign in the government is if we get the power back and start dedicating where the money goes. Then we can stop this to lindros for that ridiculous project in california with the thousands of acres of mirrors that are blowing up birds that fly through. Anyway, they called and flamers. We can stop all of that craziness if we have complete transparency and we are the one that puts the specifics than that. But we make sure we have rules in place that we cant have more like the moratorium. Stuart i promise will followup on the wall and earmarks with you. Those are critical, but especially the wall. Stuart thank you. Well see you soon. Look at the market now. We were going to be down 90 or 100 points. Now will be done 70. For the first time this year, i believe the stocks will open lower. Bombshell from a top guy gps revealing somebody has been killed as a result of the antitrump dossier. Judge napolitano will come back to break all of that down and he is next. Stuart moments ago the president created on the daca court ruling. It just shows how everyone how broken, unfair when the Opposing Side in a court case such as daca runs to the ninth circuit and also his limbs before being reversed. Judge, thats exactly what was just said he is a legitimate complaint except the court much to his dismay used his own words against him. Right side another three or four months to come up with comprehensive reform. Stuart at the other side of the coin is trump watches varney. Serious stuff now, not that that was in. Over the summer and attorney for the cofounder of fusion gps revealed during a closeddoor interview that somebodys already been killed as a result of the publication of the antitrump dossier. Judge, where is this going . He meant this as an interrogation over the summer before the Senate Judiciary committee have a transcript unilaterally release by senator feinstein on the committee yesterday. They were so many juicy tidbits in there, i dont know where we are going. I dont know who the person is they say was killed. They talk about such rich, the Democratic National Committee Staffer who was killed execution style in washington d. C. , talking about some russian asset of Christopher Steele who provided them with information about mr. Trumps alleged involvement with russian going back to 2014. We really dont know who he was talking about. This came out of the blue. There is a lot of material in there that tells them this will keep going on. The fbi had a source in the Trump Campaign, either an undercover fbi agent pretending to be a member of the campaign for an actual real person in the campaign who is telling the fbi what was going on in the campaign. The question is why. Why was the fbi interested in what was happening in the campaign in real time. Stuart about his domestic spying on your opponents political campaign. Sure is. We dont know if this is going to barack obama and Hillary Clinton or the fbi kept it until donald trump succeeded. We dont know who the person was, much less what the person was saying to the fbi. The transcript i cannot yesterday, shes heavily criticizing to release it. Dont go near Chuck Grassley decided because intelligence had his coffee user to bite someones head off. The release of the transcript is undermined their investigation. As much as i love Chuck Grassley, i take the opposite view. The public has the right to know what was said and what was done by fbi agents and now we have a better view of what was said. Stay on top of it for us. All the market in four minutes time. We will open lower the first time they have gone down the opening bell. We will be back to cover it. Liberty mutual stood with me when this guy got a flat tire in the middle of the night, so he got home safe. Yeah, my dad says our insurance doesnt have that. What . you can leave worry behind when liberty stands with you™. Liberty mutual insurance. Thats it. Im calling kohler about their walkin bath. Nah. Not gonna happen. My name is ken. How may i help you . Hi, im calling about kohlers walkin bath. Excellent happy to help. Huh . Hold one moment please. [ finger snaps ] hmm. The kohler walkin bath features an extrawide opening and a low stepin at three inches, which is 25 to 60 lowr than some leading competitors. The bath fills and drains quickly, while the heated seat soothes your back, neck and shoulders. Kohler is an expert in bathing, so you can count on a deep soaking experience. Are you seeing this . The kohler walkin bath comes with fully adjustable hydrotherapy jets and our exclusive bubblemassag. Everything is installed in as little as a day by a kohlercertified installe. And its made by kohler americas leading plumbing brand. We need this bath. Yes. Yes you do. A kohler walkin bath provides independence with peace of min. Call for a free kohler nightlight toilet seat with consultation. Or visit kohlerwalkinbath. Com for more info. Stuart let me it out. January the 10th day of the year and this day will be the first day when the stock market opens lower. This tells you about the insistent rally. Three seconds until the opening bell finishes and they start trading now. We are down 37, 46, 53. Im just calling out the numbers as they appear on the screen down 64 points, 65 points in the early going still at 25,322. A loss of a quarter percentage point for the dow. The s p 500. What the result they are. We are down about one third of 1 . That is down more in percentage terms. It is up nearly half a percentage point. The Technology Stocks which are leading this downside move first thing this wednesday morning. Maybe this is the reason why weve got stocks down. That is the baseline Interest Rate. All the way up to nearly two points 6 . The stock market often rejects that kind of movement. The price of crude oil 63 per barrel. Rates up, oil up in gold is up as well. 1300 bucks an ounce. Quite a scenario starting here. Ashley and liz are here to discuss it. Chandra lonnie and keith fitzgerald. Give us a reason the market is open down today. You hit the nail on the head today. The 10 year bond at 260, a big bond guru said this is the beginning of the bear market for bonds. Theyve given up less than half of what they put up yesterday. The markets up this year already. You think this is a minor blip. Well get past it. Nothing to worry about. Again, the markets have to go up and down in order to make progress. People forget that. This volatility is a fraction of what we saw in the past. I made some calls. Theres also a rumor out of beijing the chinese will stop buying our debt or at least slow down purchases. People are rebalancing. People move government money. China is considering slowing or holding their purchase of americas dead. Ashley japan may stop tightening up its policy will just burn the fed year. The Interest Rates means that the economy is booming along. The downside is people not take money out of the stock market and get a better return. But if the chinese entered the japanese take away some of the money theyve been putting in, the negative rates go up. Its not that big of a worry. Only down four to sixpoint as we speak the yield on the tenyear treasury. The 2. 59 . Look at the big banks. Lets see how theyve opened up this morning. They are uniformly on the upside. Goldman is down all of them are a. Thats what happens when Interest Rates go up. The banks make more money. Is this whats happening now, shah . Et cetera because Interest Rates are up . Yes. Exactly what is happening at the long end and banks are allowed to charge more. Their net interest margin, the cost of their money versus what they make in landau. This bodes well for banks. Big a tax reform. Less regulation and more money back on their loans. Its all pointing upwards for the banks. Ill try to sum it up here. Weve open lower in the dow industrial. Its not a huge drop, down 60 points as we speak of the reason for the drop is probably the Interest Rates are rising. Why are Interest Rates rising . But americas economy is doing pretty well. China now considering slowing or halting purchase of our debt. Chinese money coming into our american debt market so rates are going up to you that what is going on now. Ill swear, co. Shipping more items by plane to the rising expectations for very fast delivery. Go bull traffic up 9 yearoveryear. Amazon is building out its own fleet of airplanes, hooking up with atlas air worldwide and another airline to basically repurpose boeing airplanes to shift paper towels into taste overnight as prime customers demand things overnight. Look at this headline amazon just flashed. More than 300,000 small and mediumsized businesses. That has to do 140,000 already there. Talking 440,000 small and mediumsized businesses in people wanting stuff overnight. That means air freight traffic is going to continue to rise. Ashley what is interesting about it is they would go on trip send containers and trucks than they are all going by plane because you need your dog food tomorrow. But its also creating bottlenecks of the countrys biggest airports. Having to reroute these cargo planes to charlotte, detroit created a backlog. Stuart at the Amazon Effect is endless. Its worldwide. Walmart is taking a direct shot at amazon, making checkout lanes obsolete. It is called scan and go technology. You load up your cart, push it past the scanner and you are done. You paid for it automatically. Is this the way of the future . Shah. It is the way the future. Its here and now will continue on. Im skeptical how will work in terms of that. If you scan the product and put them in the bag, there is nothing that tells you whether or not something hasnt been scammed or paid for. More skeptical how will run in the long run, but walmart is doing a great job competing against amazon or the stock has done well and its hard to bet against walmart. I like what theyre doing. Stuart walmart a single swap out its cashiers and how graders at the exit door to check your receipt. Broker in amazon is looking at technology as well. You can have idle next. You have an outcome of scan your item going through the aisles, put it into your basket. Once you finish up and pushed total and buy it right there, the checkout person for the checker if you like checks your digital receipt. Stuart now we are down 71 points with seven minutes into the session down seven points. 25,315. Look at sears, they Just Announced a 200 million worth of reductions not related to store closures. The stock is up 4 cents. Three dollars a share for sears. Better profits coming in at wd40. They raise their guidance of 3 . 122 a share, wd40. Lower profit at lamar, however revenue is pretty good but nonetheless the market bringing them down 35 cents. 66 bucks a share. Dominos chief executive jay Patrick Doyle is going to step down in june. The markets reacting with 7 cells. Boeing, the darling of the tao says it is a record 753 jetliners last year. Theyve got orders for another 912. The stock has doubled in the past 12 months, down a fraction this morning, reaching 317 on boeing come easily beating the airbus. The Financial Times says fox business parent 21st century box finalizing the purchase of 10 u. S. Tv stations from sinclair broadcast group. No impact on the stock. Dont forget bitcoin. The wall street journal citing sources reports that china has quietly ordered the closing of bitcoin operations of 13,000 a point right now. Theres more on this. Look at eastman kodak. Guess again at 90 . Theyre not a camera company, a film company. They waded into the digital world. What are you going to say about that . I frankly find it amusing is one of those stories where you shake your head. Not enough known about what they will do. My question for kodak is in terms of the larger and who was taking photographs on kodak films and what right do they have to be part and parcel to anybodys cryptography . Does anybody create their own block chain and sell their own photographs. Im not sure where kodak is involved and how the coin works into it. Stuart and a kodak piece . Absolutely. We should form a verdict point. Anybody can do this to boost their stock. I dont understand the usage. This is ridiculous. This reminds me in the early days of the country where every store had its own current week, in the u. S. Dollar wasnt worth anything because everybody else had competing money. Is that where we are going . Stuart im sorry. We are all laughing because we are all speculating about Varney Company is on coin. Liz one of the producers that i would have a burning coin. Ive got to say goodbye, and i was quite an episode. Where are we now . Down 70 points on the dow industrials after 10 minutes. 25,300 is where we are. Circuit city out of business for nearly a decade with a big comeback launching a new website next month. Bricks and Mortar Stores apparently will be following. President trump finally weighed in on oprahs president ial does. He says he likes her, but if she runs in 2020, he will beat her. You will hear all about it. I know you cant wait. Stuart winter we received news that china may slow or halt its purchase of american treasury debt, down went the market we are still following up 92 points right now with 25 to 92. Dunkin donuts onto double the number of stores in america. Give me that story, nicole because that story is real good. That depend are your Dunkin Donuts coffee person or a Starbucks Coffee and not to coffee and thats about all that happens down here every day. Duncan is getting aggressive. They want to double and big picture go to 9000. Stuart on the floor of the new york stock exchange. Im jumping in on you. Bad microphone. I get back to you shortly. Suffice it to say that i approve of Dunkin Donuts doubling the number of stores. We would get back to you i promise. Immigration, if President Trump does daca, lets the dreamer stay. If he does that first, he runs the risk that democrats will not follow through on their promise to build the wall. Rnc spokesperson kitty mcinerney is with us. I will repeat that, but that meeting yesterday says we will do daca first. He believed we will build the wall later. The president was clear. He has said repeatedly he means the wall is included. Kellyanne conway buttressed that argument. The law must be included. So that is where youre coming from. Theyre not just going to do it first and wait for the wall later. It is daca in the wall all at once. Thats what he wants. Thats exactly what he wants. Stuart very reassuring. Im sure you saw it, everybody saw it at a most unusual open meeting yesterday. Shes had a Cabinet Meeting this morning at 11 30. Is he going to do the same thing again . I hope so. The only way to coopt a negative Mainstream Media we see from the other networks is to show the world this is who i am or the great negotiator, negotiating across the table from an alternate company. Did she run the risk of negotiating on the fly in giving away some in because you want an agreement. The president doesnt budge or give in on anything. He has been steadfast. Democrats need to come towards him. Stuart alright. I i want your comments on President Trump. He made a comment on no programming in 2020. Watch this. Opera would be a lot of fun. I know her very well. I did one of her last shows. She had donald trump politics her last weekend my family. She was very nice. I like someone. I dont think shes going to run. We welcome her to the democratic field. The other possible to beat this president. The stock market, jobs. Look at his record. Thats a personal opinion. No, i dont know. Hard for anyone to beat this president. Shes likable but the president has a record of achievement. And historic one i should say. Hold on a second. Ive got to grab this. Youve got a book . The new american revolution, the making of a populist movement. A populist from harvard. Of the populace. But im from plant city, florida where i was born and raised in the best education was at education was in my dads truck listening to talk radio. To me it is listening to the people and being responsive. President trump was the First Republican to come out and say not to hurt the American Factory worker pay factory worker could the First Republic the First Republic and to say lets get involved in the foreignpolicy adventurism in the last decade. You listen to the people. Stuart are you going to tell me the trump ebook, the populace be the Establishment Republicans . You be both sides. Stuart President Trump has drained the swamp, washington d. C. At the party of the people. Did you tell your bosses that the establishments toasted no beat them. Its now behind President Trump every side of the rose garden were publicans of all different ideological event stood behind the president s vision for the party. Stuart here is a pen. Autograph the book for me. Thanks very much indeed. Where are we now, down 91 points on the dow industrials. 25,000 we are below 253. A Top Executive at nbc says that if players kneel in protest at the super bowl, the network will show way. For millions of americans to see. More on that in a moment. Varney coming up. Building a website in under an hour is easy with gocentral. From godaddy in fact, 68 of people who have built their. Website using gocentral, did it in under an hour, and you can too. Build a better website in under an hour. With gocentral from godaddy. You may be at increased risk for pneumococcal pneumonia, that can take you out of the game for weeks, even if youre healthy. Pneumococcal pneumonia is a potentially serious bacterial lung disease that in severe cases can lead to hospitalization. It may hit quickly, without warning, causing you to miss out on the things you enjoy most. Prevnar 13® is not a treatment for pneumococcal pneumonia. Its a vaccine you can get to help protect against it. Prevnar 13® is approved for adults to help prevent infections from 13 strains of the bacteria that cause pneumococcal pneumonia. You should not receive prevnar 13® if you have had a severe allergic reaction to the vaccine or its ingredients. If you have a weakened immune system, you may have a lower response to the vaccine. The most common side effects were pain, redness and swelling at the injection site, limited arm movement, fatigue, headache, muscle pain, joint pain, less appetite, vomiting, fever, chills, and rash. Help protect yourself against pneumococcal pneumonia. Ask your doctor or pharmacist about prevnar 13®. Stuart the dow jones average is down and close to 120 points following a report that china may slow or even halt its purchase of u. S. Government debt. That raises Interest Rates and pushes stock prices down. That is what is going on right now up 121. The shares of the wholesale distributor supervalu, sales not good enough when the stock is down 12 . Supervalu back to 17. South koreas president credits President Trump for opening a talk with north korea. Fox and friends with us now. This is rare. South koreas same things, mr. Trump you do open up the top. This is not a government currently that its been as friendly rope and geared it is a good step, but of course not nearly as efficient. Just talking is what north korea has always done to run out the clock so they can continue to do pursue what they want. I know this administration understands that its just one step and they have to continue to ratchet up, which is why i love the punch in the nose statement made recently. Weve got to introduce the idea that this regime may not survive. Stuart the president has to keep convincing the north koreans he is serious and will take steps. At some point we will have to take a stab. What is that calculation . Unless youre prepared to live in a world where you will Deter North Korea or accept the fact they have nuclear weapons. We shouldnt accept that. The talks wont get it done. Stuart i want to talk to you about nbc. They are saying this morning duo show players kneeling during the national and am at the super bowl if they do kneel at the super bowl. What you said about . I can hear the collective click of the nation turning their television. They should rename their name and they have an agenda. They are driving it to my thinly veiled. I look at you say im a conservative and this is that i stand for it. Nbc, nbc news or msnbc and they believe in the agenda and therefore they are happy to show it. This is a new story so we will cover it. Stuart if players kneel during the national and done, we have a right to see it. If they block it out and go to a different camera shot, i dont think thats legit. If it happens, it happens, show it. Im finally back to the nfl suffered greatly from this. Why would we take the super bowl basically easter and a few other spots in fourth of july. Its our holiday and it was celebrated whether you like football or not. Do i really need dealers . I wish nbc would take a stronger stance. Would you make a President Trump going to davos . You probably can if you want. It is a Swiss Mountain village where every year they get together, the billionaire stock to millionaires, global warming, Climate Change, globalization, open borders, inequality. I want the president to go over there and stick it to them. I dont want to be the one that goes there into the room. Slob on top of swamp on top of swamp on top of swamp on top of song. Ignore the Clinton Foundation is on a plane headed to davos by a saudi prince. This is exact we have the global lead operate. They collaborate together to enrich themselves. Ashley America First. This is fantastic for this is exactly what they hate is davos. When you guys going to stop saying is a great moment . Will has a more great moments. Liz would like to have the leader of davos upended norms. At the same time global tensions havent really risen in china relations getting better. Interesting, right . Stuart i do believe our colleagues are on your side. Stuart you are all right. Thank you. It happens here on fox. Public negotiating between President Trump and the democrat in the subject was immigration. Heres the question. Should the president trust the democrats promise that we will build a wall after we get daca . We will be back. Stuart does President Trump trust the democrats on immigration . Should he trust them . It is a fair question after that extraordinary public negotiating session in the white house yesterday. Senator Dianne Feinstein said, lets deal with the dreamers first. Lets do daca first, and then move forward with a commitment to Border Security. In other words, give us the democrats, daca, now, and we promise to build the wall later. The president said okay. Lets do it that way. Oh, watch out. There are some glaring examples of republican president s giving in to democrat demands with a promise that they will come through for the republicans later, promises that were not kept. Why should we believe those promises now you . Can see it coming a mile off. The wall or Border Security, as it will be called, will be negotiated to death. Will it be a barrier, a fence, or a real wall . Can we afford it . If the mexicans dont pay, should we pay . Of course, it is racist. So the left will bring in californias courts to stop it. That leaked memo spelled it out all. We reported it yesterday. The democrats need the dreamers in to insure electoral success in the future. They will do anything to help illegals, they will do anything to stop the wall. The truth is, if we dont build the wall, well be back with a huge illegal problem all over again in a couple of years. Everybody wants to be here, legal or not. Thats got to stop. The immigration deal should be straightforward. The dreamers stay, the wall is built, hammer it out now. Dont accept anybodys promise of action down the road. The second hour of Varney Company is about to begin. Stuart its a tripledigit loss this wednesday morning. Were back to 25,200. Why . Because Interest Rates are rising. Why . Because in part because china says it might slow its purchase of americas debt. Not good. Rates up, stocks down. Look at the big tech names. They are now all of them on the downside. Facebook, amazon, microsoft, alphabet and apple, down. Sears raising 100 million of new financing, looking for 200 million more. Investors kind of like it. It is up seven cents. Amc getting a downgrade. One big bank citing Lower Box Office revenue. Doesnt make any difference the stock is up nearly 2 . How about bitcoin . The wall street journal chain has ordered to stop Bitcoin Mining operations. That is news. The price of the bitcoin is down. Dont forget oil. It is at, i believe a threeyear high. This morning it reached 63 per barrel. It is now at 63. 36. Gold is up as well. Lets get back to immigration. President trump suggesting a twostaged approach, daca first, then the wall. Roll tape. I think there needs to be a willingness on both sides. What about a clean daca bill now, with a commitment we go. Comprehensive Immigration Reform procedure . Well come up with daca. Well do daca. We could start immediately on the phase two which would be comprehensive stuart not sure conservatives will like that. David bossie, former Trump Campaign executive director joins us now. Lets spell it out, david. Do daca gnaw, the dreamers stay now, but we promise to build the wall later. I dont think that flies . I dont see that happening at all. That is not the president s intention is. That is not what he said right there. He is saying well get Border Security and the wall. Well end chain migration and we will end this disasterous lottery system that is just a despicable thing. Stuart david, im sorry, he appeared to cave yesterday. No, he did not. Stuart in response to Dianne Feinstein. He did. He was having a conversation, it was a conversation on television but it was a conversation nonetheless, nowhere did he say, nowhere the president said i would do daca. He said, they were talking at that moment in time about all of the different elements of Immigration Reform which they then called comprehensive. Not about the wall. This president is doing nothing for daca or anyone else if there is no Border Security and there is no wall. Stuart look, i love that live action presidency that we saw yesterday. 55 minutes were looking right there at a meeting on immigration, republicans, democrats, the president himself but the danger is that the president gives something away with an offthecuff remark. Look, i know we disagree on this but i think he gave away the immigration debate yesterday. No, he won the immigration debate yesterday. Here is what he did. Showed the American People what this is about, what the making of the sausage is about. How out of touch these liberals are in washington, these democrat leaders who came to the table, who he said, lets have a conversation. Lets, i respect you. How about you respecting me . I got elected president on these issues. This president is not throwing that away. He believes in it. He is dedicated to Border Security and to the wall. He is dedicated to ending chain migration, to destroying this lottery system. It is growing to end and it is going to end with a deal in my book next couple weeks i think you will be very happy with. Stuart you know what i would like to see . What would make me very happy a president ial tweet straightening it out. I want clean you daca and the wl and, ending chain migration, if i get that tweet, i dont think i will i would be happy. Last word . You know what i think well see in the next 10 or 12 days, a coming together solving this problem once and for all. Taking a Political Tool that is used by the democrats, taking it off the table. I think we all win but with Border Security. Stuart if i called you a dreamer, dont be upset. [laughter]. David, youre all right. Thanks for joining us. See you again soon. All right, i have to get to the markets because were still down sharply at this point. Were off 84 points on the dow. S p, nasdaq on the downside. Liz peek, foxnews. Com column it is with us this morning. Sum it up for me, why the pullback today . People are looking at a little bit of a change, a change in inflation expectations. All of a sudden the market is indicating inflation is picking up steam. We see higher prices for oil and other commodities which backs that up. A response to global growth. I dont think anybody about that is surprising. The one thing changed, Central Banks are looking at their policies. Bank of japan came out yesterday with, a basically a less accommodative stance. And today we had china saying they would cut back, or stop purchases of treasurys. So what does that all mean . It means stuart higher Interest Rates. Higher Interest Rates. That could be sort of a sea change in terms of competition with equities and so i think the investor are taking a pause, saying, okay we have great fundamentals. There is no question the economy is growing. Earnings by the way continue to tick up in terms of expectations because of the tax bill. Were getting a lot of stimulus from the tax bill. Stuart that is all true. That is expected but i think this is the first time in a long time this inflation and Interest Rate issue has really been in the forefront. Stuart stay there, but i do have to tell you, when we broke the news at 9 30 this morning, china was considering slowing or stopping purchase of our treasury debt, that market went down. Right. Stuart we were down 70. Suddenly we were down 120 on that news. Well get back to you shortly. Thats a change. Stuart exactly. New york lawmakers, including congressman peter king propose a bill to restore the deduction for state and local taxes. Congressman tom reed, republican from new york joins us now. I dont think they have got a prayer of doing this because the treasury would not allow it. They cant afford it but what say you . Also the difficult path in the senate. There is not a path in my opinion to get this to the finish line but i appreciate what peter king is doing. Im not opposed obviously to reinstating the state and local Tax Deduction but i dont want to lose the opportunity to highlight i think is the root cause of the problem, stuart, our taxandspending policy out of albany at our state capitals driving spending up and spending up, causing taxes to rise hurts so many americans. Stuart i want your opinion on this, i have a strong opinion, i dont see a prayer for the governments of new york, new jersey, or california lowering taxes. I dont think it is going to happen, do you . I think they will have to deal with it. I think they will have to deal with the spending which drives the tax equation. That is the revenue side. So you have to get expenses under control. When you have a budgetary deficit at our 4 billion at the state capital, you will have to tackle the problem once and for all. Enough of political theater. People are not stupid. They know what the cause of this problem is, that is spending policy out of albany correlates high taxes driving people out of our state for decades. Stuart i dont want to hold you up, i am you are heading for a meeting on infrastructure. There will be a gas tax included in a infrastructure package to pay for the Infrastructure Program to come, a gas tax. What do you say to that . I dont personally support the gas tax increase. It is highly regressive tax, in rural district people traveling 30, 40 miles going to work. That is lot of money coming out of lower income peoples pockets. We have to deal with the revenue and there is one path. A gas tax increase even if it does make it forward will not solve the problem. We is to recommit to build our infrastructure. Problem solvers caucus, 24 on each side to represent, came together we can work in bipartisan basis to solve this. Stuart how do you pay for this . There is tremendous amount of additional revenues. Natural resources could be put into the till in developing natural resources. Areas new sources of revenue with the new generation transportation models coming down the pipeline. There are other sources of revenue we should consider but we have to consider all of them together to solve this problem. Stuart but no gas tax . I think gas tax will obviously be a part of the conversation. I dont personally support that. I dont know if the votes are there to get that done. What you have to recognize even taking care of gas tax increases if you do it, they will not be sufficient enough to deal with a problem of a trillion dollars. Its a bigger problem than a gas tax increase. Stuart congressman tom reed, republican from new york. Thanks for joining news thank you, stuart. Stuart check this out. Spacex responding to reports that the Satellite Mission failed sunday night. It did fail by the way. Wall street journal and other outlets said satellite broke apart and crashed into the ocean. Spacex says it did everything correctly. Promises to report if they learn otherwise. The satellite however, is gone. Coming up, restaurant chains like red robin are scaling back on employees an benefits because of minimum wage hikes. We predicted this would happen. Were on the story. Former Arizona Sheriff Joe Arpaio running for the senate. He is a trump ally. Could this completely change the game . Kelly ward, is also running for the seat in arizona. She is with us later this hour. Youre watching the second hour of Varney Company. With expedia, you can book a flight, then add a hotel, and save. Everything you need to go. Expedia. From godaddy in fact, 68 of people who have built their. Website using gocentral, did it in under an hour, and you can too. Build a better website in under an hour. With gocentral from godaddy. Stuart we were down 120. Now were down 54 and falling as we speak. How about boeing . They delivered a record 763 planes last year. They have orders for 912. The stock has been a bit of a tear. Boeing is a dow stock and doubled in nine months. Grubhub, food delivery, they have to deal with white castle, they will deliver sliders from 120 white castle locations around the country. Market doesnt like it particularly. Down 1 . Misread that. It seems that smart speakers like amazon echo and google home, some people think they are taking over our lives and our next guest says thats not good. Steve hilton is the guy. There he is. I think he is out of los angeles this morning. Steve, i have problems with technology. I dont think its a friendly. I bought a new house. I have that nest thing on the wall. I almost took a hammer to it. I cant figure it out. Your objection it is tacking over our lives. Good afternoon to you, stuart, im emanating from the heart of this, Silicon Valley is a good friend of mine. A personal friend. I know all the tech people, all these people, theyre all good friends of mine. You could say that is conflict of interest or i know what im talking about. The thing is, this is all about, for me a concentration of power. The more that we put all of our eggs in one basket, the more dangerous it is. Now these big tech companies, they literally want us to put all our lives into their hands. Google wants us to use their selfdriving cars, arrive at our house, their facial Recognition Software will open up the door. Throw away boring old keys. Walk into the kitchen. Google home ordered your dinner. A smart oven cooks it for you. This is all really dangerous. What happens if something goes wrong . Something always goes wrong. We heard last week from the tech companies, for example, that every single computer in the world, your smartphone, your desktop, the giant Cloud Systems they all are afflicted by a design flaw that makes them vulnerable to hackers. They havent solved the problem. All they have done give them crazy names like specter and meltdown. That is literally what they called these design flaws. The more we concentrate everything in these connected, smart systems, the more vulnerable we become. I think it is really important we resist this temptation to allow these companies to take over our lives. Stuart excellent, steve hilton. Excellent, original thinking in tune with me which is more to the point. Thank you very much. Im sorry about your friend who opened up nest. I will take a hammer to it if it wont work. As a fellow guy with a british accent i have so ask you about this. The obamas are not invited to the marriage of prince harry and meghan markle. They are worried about President Trump. Meghan markle is off social media. I put it to you, steve, meghan will have a hard time being a royal for the rest of her life. I dont think the brits understand this but i think we americans do, correct . I think that is exactly right. I think she really is going to struggle. I think on the other hand, she is really i have never been a huge fan of the monarchy as an institution. I prefer our system here in america, if i can put it like that but when i saw these two, harry and meghan on their first interviews after announcing engagement. Theyre a terrific couple. I think theyre an asset to the royal family. I think the wedding will be positive thing for the uk. I dont really care whether the obamas go or not. I have my big political disagreements with the former president. But on personal level he is clearly got a strong personal connection with harry. The obamas are a great family. I dont think President Trump will care at all if they go to the wedding. He has got bigger things to think about. I dont know what thats about. Stuart i think youre still a green card guy. I do recommend citizenship. Then you can vote. Oh, yes. Im waiting in line. Im waiting my turn as i should. Ashley welldone. Stuart you just become a dreamer and youre in. Steve, thanks very much. See you soon. Thanks to you, stuart. Stuart coming in to us, breaking news. Fox confirmed House Majority leader mccarthy, senator durbin, Senate Majority whip cornyn, House Minority whip, steny hoyer will meet with Top Administration officials today. They will likely be talking immigration. In just over an hour the president holds a Cabinet Meeting. The focus will be infrastructure. Well see if we get live action presidency. Will we see the meeting on camera. I would love to, strangely. Love to see that. How about this one. Kodak, theyre back. Nothing to do with cameras and film, oh, no. Theyre getting into the bitcoin business. They will come up with their own cryptocurrency. The stock has taken off. We should have a varney cryptocurrency. Ashley oh, boy, dont short it. Well be back. A used car, truck, suv. Thats smart. Truecar can help. Its great for finding a new car, but you already knew that. Its also great for finding the perfect used car. Youll see what a fair price is, and you can connect with a truecar certified dealer. So, no matter what youre looking for. There it is. This is how buying a used car should be. This is truecar. Retail. Under pressure like never before. And its connected technology thats moving companies forward fast. Ecommerce. Real time inventory. Virtual changing rooms. Thats why retailers rely on comcast business to deliver consistent Network Speed across multiple locations. Every corporate office, warehouse and store near or far covered. Leaving every competitor, threat and challenge outmaneuvered. Comcast business outmaneuver. Stuart not quite a tweet storm but it is close. The president is tweeting about russia. Here we go. The greatest single witchhunt in American History continues. There was no collusion. Everybody including the dems there was no collusion yet on and on it goes. Russia and the world is laughing at the stupidity they are witnesses. Republicans should finally take control. There you have it. Just in to us. Now, kodak, have you seen the stock today . Straight up. Why . Lizzie are, they coming up with their own cryptocurrency. Liz yes. Kodak coin. It more than doubled in trading yesterday. Kodak coin a digital ledger for photographers to track the licensing of their photographs and also get paid via kodak coin. Stuart so it is not just a coin that is chucked out there. We speculate on its value. Liz no. Stuart it is internal within kodaks operations with photographers . Liz thats correct. Stuart why is the stock going liz Global Blockchain plowed money into kodak coin. How is there revenues . Liz because photographers sell their photographs. They probably get a cut of the fee. Stuart i dont see how you pay for something in a currency with not consistent level. Liz it is all about encryption. Photographerses seen their work stolen around the world. This creates a chain to protect their work. Stuart long island tea. Sports bra company. Liz ecigarette. Biotech. Ashley more and more people start turning to this . That is what i wonder . Stuart there must be a private use for crypto currencies and the market recognizes value. Liz blockchain technologies. Stuart welldones liz. You got it right. President trump is headed to davos, or davos . I dont really care. It is World Economic forum and he will shake up the global elites. Im just loving it. Well be back. Copd makes it hard to breathe. So to breathe better, i go with anoro. Go your own way copd tries to say, go this way. I say, ill go my own way with anoro. Go your own way oncedaily anoro contains two medicines called bronchodilators, that Work Together to significantly improve lung function all day and all night. Anoro is not for asthma. It contains a type of medicine that increases risk of death in people with asthma. The risk is unknown in copd. Anoro wont replace rescue inhalers for sudden symptoms and should not be used more than once a day. Tell your doctor if you have a heart condition, high blood pressure, glaucoma, prostate, bladder, or urinary problems. These may worsen with anoro. Call your doctor if you have worsened breathing, chest pain, mouth or tongue swelling, problems urinating, vision changes, or eye pain while taking anoro. Ask your doctor about anoro. Go your own way get your first prescription free at anoro. Com. Ashley no beatles. What happened . Stuart usually the beatles. Now come fly with me. You want me to fly with you to davos or something . Forget it. Dow is down 65 points. We were down 120. We cut the loss in half as Interest Rates rise. Now i have the latest read how much oil weve got in storage and what difference that makes to the price. Jeff flock in chicago. Give me the number. Reporter stuart i want to take you right to the board. Bigger draw than expected, down about five Million Barrels of draw. It was expected to be about 3. 84 million. Distillates and gas both up, that was expected as well, but up more than we thoughts. But the draw in crude down more than we thought. Obviously you would think there would be a reaction the other way but oil losing ground right now for some reason. Maybe, i dont know what they thought but there you go. Oil is losing ground. Stuart that is very interesting story, thanks very much, jeff. I think that is story about Economic Growth or the state of the economy. If youre using a lot more oil, drawing down five Million Barrels, im assuming that is the sign of a pretty strong economy. It has been really, really cold, which helps demand. Stuart the voice of reason. Sorry,. Stuart thank you. The dow is down 65 points. No reaction in the market, the stock market to the oil news. Im looking now at the big tech companies. All of them down. Facebook, amazon, microsoft, alphabet, apple, downside. Not much but all down. How about walmart . This is a direct shot at amazon. Theyre making check out lanes obsolete. Theyre adding scan and go technology to the stores. Let you scan and pay for items without going past the cashier in the checkout lane. The Financial Times reports that fox business parent twentyfirst century fox finalizing the purchase of 10 u. S. Tv stations from the sinclair broadcast group. No reaction to 21st century stock. Now this. Several Utility Companies all across the company are lowering electric and gas bills for their company, lowering the monthly bill, how about that . This is because theyre passing through the tax savings directly to customers. The companies on your screen, thats what theyring doing. Pepco, et cetera, et cetera. Read them right there. Andy puzder, America First policies joins us now. Andy, this is different. This is not giving a bonus or raising wages. It is going straight to the customer and lowering your monthly bill. This is new. It is new and really its a double benefit. Its a benefit to people because not only due to tax reform will they have more money in their paychecks but theyre now going to have lower utility bills. I think you will find other Service Providers engaging in similar conduct. The other side of this is, it is another benefit for businesses they can pass on to employees. Not only are their taxes lower, not only are the regulatory costs lower, now businesses will have lower utilities costs. With the weather you went through in new york this is obviously a big deal, for example to Retail Businesses like restaurants in the winter to keep the place warm. So you have got more money they can pass on to employees with wage increases and bonuses. This tax bill has tremendous impact already. I cant wait to see numbers start coming up out of the bureau of labor statistics next couple months. Stuart it will be very interesting. By the way, for our viewers, on the screen moments ago, we had the stock price of toyota and mazda. Why we put them on the screen, because they are investing in america. They will spend 1. 6 billion to build toyota cars in, alabama. How about that . Money coming into america. Toyota up. Mazda up on the news. And in right to work states. Alabama is a righttowork state. Stuart they build mercedes this alabama. Ashley and honda. And hyundai. Stuart it is the new detroit, minus the union. Back to you, andy, with the minimum wage increases were going to put some food chains on the screen, they have been scaling back. Red robin getting rid of busboys. Jack in the box will use robots. Tim hortons rolling back employee benefits. You saw this coming, didnt you . You said, when the minimum wage goes up they will take it out on the people who thought they were getting a bargain . I said that in a Business Insider interview in 2016 and i repeated it in the wall street journal number times and roundly criticized from the left with this warning. If you raise minimum wage to the point where people have to adjust to the cost of labor, people will not have jobs. You will not have people getting huge wage, being able to pay rent, all the things the left claims, you have large number of people without jobs. The minimum wage if you dont have a job is zero. Without the entry level position gets you into the labor market, were losing a generation because were eliminating these entry level jobs. It is terrible for the economy. It is terrible for the American People and its a fraud by the left. Stuart andy, what is this . I see a headline from politico, and it reads, puzder resurfaces in Trumps White House in spite of metoo movement. What is going on . You know, im really so glad you raised that. This from out of politico. Quite honestly they made it up out of whole cloth. They said i was recently in the white house. I havent been there in sent or october. They say there is offer i haved had no discussions with anybody in white house personnel or anybody in the white house about coming in with a position. This is an attempt, the left does this repeatedly, they take somebody who goes on shows like yours and talks about how these economic policies of President Trumps are actually benefiting the American People, or i write something for the wall street journal that shows how this is benefiting the American People. They cant attack me on substance, so they run an article like this in an effort to raise allegations that were recanted, untrue and made, withdrawn, recanted 30 years ago in a divorce proceeding but they want to do everything they can to raise it again. Now in a sense i guess its a compliment because if i werent effective on your show or in these other venues they wouldnt go after me. When your viewers read this, what they need to do is consider the source, in this case the source is not very reliable. Stuart youre welcome to stay on the show and keep coming back, andy puzder. Thank you, stuart. Stuart before you go, i have to ask but the davos meeting, the World Economic forum. The president is going. Im very happy that he is going because i think he will stick it to them. Word to you, andy, what do you say . I was going to say, doesnt it just make you feel great he is going to be there. These people have been getting this coverage for years on these ridiculous policies that they pursue. It is an absurd meeting. Now we have somebody go in when he addressed nato, like when he addressed the united nations. He is will bring truth to power. Thank god we have this president and he can do that. Stuart liz peek is with me. Im dying to see you have not been to davos. I havent. I love to go. That is exactly right. I think is wonderful to have President Trump who has been characterized all over the world, unstable, unfit, mentally unhinged, let him make the case for getting us out out of the tp which had broad support in the United States and withdrawing from the Paris Climate Accord which is very flawed agreement he is totally right to taken us out of. Last year, he should not stay very long because he will be lectured i bet global elites but i hope he stays. Stuart very fast, andy, would President Trump beat oprah if she runs in 2020 . He absolutely would. Look, i like oprah just like anybody else, but the fact of the matter is, everything that is bad, everything that is negative about oprah is not out in front of the public. There are a lot of things that could be raised about oprah would show she wouldnt be a good president or made statements i think people with find offensive. None of that is out right now. She looks great. But people always look great before you start digging into the details. Stuart yeah, but liz, i got to tell you, a free car for everyone would go down well. Wouldnt it be great for detroit. Stuart or alabama. She is a terrific icon of american entertainment. I think if she has any brains in her head which she does she will not undertake it because andy is totally right. All they will do pick her apart, tear her apart, it will be incredibly unpleasant for her. Stuart andy puzder a fine performance today. Thanks, stuart. Stuart now this one, apples music mowing gull jimmy iovine, i keep getting it wrong, he is responding to reports that he is leaving. Ashley there has been speculation in the last week, he basically runs apple music and beats division of apple. Part of the speculation was based on the fact his final piece of stock will vest in august. He is timing his departure when he can cash out the rest of his stock. He said that is not true. I dont need the money. It is only a small piece of stock anyway. Im almost 65, ive been with apple four years. In two years, Apple Music Service has 30 million subscribers. Beats continues its run. Spotify has 70 million subscribers been around a lot longer. Im not going anywhere. Im staying. There you go. Stuart the overall market is coming back nicely. We were down 130. Now were down 33. Better check this out, called wag, wag, it is a app. Connects dog owners with, exposing addresses and lockbox codes. That led to to breakins. Ashley my gosh. Stuart the app called it a technical glitch. The arizona sheriffs race, heating up. Sheriff joe arpaio is running. Well talk to one of his opponents, kelly ward, after this. Building a website in under an hour is easy with gocentral. From godaddy in fact, 68 of people who have built their. Website using gocentral, did it in under an hour, and you can too. Build a better website in under an hour. With gocentral from godaddy. Ashley President Trump wants daca to be the priority when it comes to Immigration Reform and congressman Louie Gohmert says republicans need to stand up for what they want. Roll tape. Look at the reason for President Trump. He is trying to reach out. He is trying to be gracious but we have got to recognize this is not a fair fight. If we dont stand for what reagan regretted not standing for and saying secure the border, get the wall built where we need it, then well work on who is here, then it is not going to happen and were going to have to, the next congress will have to keep coming back again and again and doing more and more amnesties until there are some people voting here that have no clue about what it takes to keep liberty and representative government, it will be lost. Stuart we come back a lot. We were down 130. Now were down 38. There was a report that china considered halting purchase of u. S. Debt. Interest rates went up but stock losses have been pared. Were down 40. Look at ge. That is biggest gainer of dow stocks. Jo arpaio, the controversial sheriff who was pardoned by President Trump has announced that he is running for the senate in arizona. Joining us now is kelly ward, who will be running against him. Kelly, are you worried that the president will support arpaio . He did after all pardon him. I would say, welcome to the fray, joe. He is patriot. He is leader on immigration but weve been really focusing on a wide array of issues, and tax reform, securing obamacare, growing economy. , i think were well positions to win this race. Stuart sheriff joe is 85 years old. I dont want to say nasty here, that is little old for running for a 6year term in the United States senate. That would be my opinion. Well see what the opinion of of the voters are. I think theyre looking for fresh new ideas. Theyre looking for someone a backbone of steel. Theyre looking for someone a proven track record. While joe has that in the sheriffs office, i have it in the state senate on multitude of issues. I think it will be great. I think it is pretty exciting seven months until the primary. Im looking forward to focus on general opponent, kirsten cinema, terrible on immigration. Wants amnesty. Doesnt want taxpayers to have more money in their pockets. Has been in washington, d. C. , not a long time, but been there while the debt has gone up 3. 5 trillion. There is a lot to be working against in kirsten cinema. Stuart that meeting on immigration which was broadcast all over the place yesterday, that got me kind of worried because President Trump appeared to say, yeah daca first and wait to do the wall. He corrected that and said well do the wall and daca together. Were you worried president was promising walls to do later if you do caulk can now . No i think it was act of political genius to televise the meeting but i do worry that the gop establishment and the left would love to maintain the status quo and think that President Trump and other republicans will fall for the same old bait and switch weve seen again and again and again. President reagan, it was probably his biggest mistake granting amnesty. We have got to fund and build the wall before we start discussing any kind of Permanent Solutions for the daca positivelations. Stuart why did you remove steve bannon from the list of your endorsements . I dont think we removed him from the list of endorsements. He was one of many. We had endorsements from great people like senator rand paul, sean hannity, are laura ingraham, mark levin, im proud of all those endorsements. Im proud of the endorsements i got from the voters of arizona. Our campaign is strong. We have Amazing Campaign team, professional staff, Grassroots Organization and weve captured the heart and soul of the voters in arizona. And so were moving forward. Ive already got my signatures to be on the ballot. I look forward to the, to the primary battle if one exists as well as going on to fight in november. And then finally, getting to d. C. And doing the job americans want done. Stuart kelly ward, well see you again before the primary election. Thanks for joining us. Thank you. Stuart now this, Credit Card Debt has hit yet another new record. How much . Liz revolving credit, mostly credit cards it is now 1. 02 trillion. That is higher level than it was in april 2008 before the housing bubble burst. Here is the caveats to this story. Incomes are higher since then, meaning people can handle that debt. Thats why youre seeing delinquencies, credit card delinquencies lower than historical average and about half of what they were at that time. Trending around 7. 5 versus 15 in april of 08. As long as incomes go up, people use credit. Stuart not out of hand. There is more outstanding student debt than there is Credit Card Debt. Ashley yes. Liz but the Credit Card Debt is doubledigit Interest Rates in many cases. That is concern what banks charge. Be very careful. Stuart i shall be very careful. Liz dont take a hammer to the credit card like your google nest. Stuart i didnt quite take the hammer to my nest yet. Liz you felt like it. Stuart dont get me started. Deep breaths. Liz sorry. Stuart big reversal from the Trump Administration. It will not allow drilling off the coast of florida. Well go live to miami for a report on that after this. [ phone rings ] hey maya. Whats up . Hey so listen, i was taking another look at your overall financial strategy. You still thinking about opening your own shop . Every day. I think there are some ways to help keep you on track. And closer to home. Im all ears. How did edward jones grow to a trillion dollars in assets under care . Thanks. By thinking about your goals as much as you do. Thats it. Im calling kohler about their walkin bath. Nah. Not gonna happen. My name is ken. How may i help you . Hi, im calling about kohlers walkin bath. Excellent happy to help. Huh . Hold one moment please. [ finger snaps ] hmm. The kohler walkin bath features an extrawide opening and a low stepin at three inches, which is 25 to 60 lowr than some leading competitors. The bath fills and drains quickly, while the heated seat soothes your back, neck and shoulders. 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Ashley the Trump Administration is making an exception and now says there will be no oil drilling off the coast of florida. How did that happen . Phil keating in miami to explain. Phil . Reporter ashley, that sure did not take very long. Less than a week after President Trumps executive order announcing his plans to drastically expand offshore oil and gas Drilling Operations on the outer Continental Shelf which affects every single state that is along the coast, the pacific, the gulf of mexico and the atlantic, suddenly florida becomes the very first state exempted. In the past week many Florida Republican lawmakers in a rarity, bucked the president , joining Florida Democrats opposing expansion in federal waters, including senator marco rubio, and gulf coast congressman francis rooney. We are highlydeveloped residential coastline. A lot of tourists industry is our main industry. We cant suffer the risks, another bp horizon. Reporter republican governor rick scott weighed in, quote, i have already asked to immediately meet with secretary zinke to discuss the concerns i have with this plan and the crucial need to remove florida from consideration. Well last night, at the airport of tallahassee, got 20 minute meeting with the interi dont remember secretary. Leading to this, florida is taking off the table, leading many in democrats in the state of florida, wonder whether politics were in play because President Trump would love governor scott, who is term limited this year, to run against democratic u. S. Senator bill nelson this november in florida. As soon as the florida deal was announced, there were 11 other governors who announced publicly they oppose offshore drilling in their states. Several quickly tweeted out statements, in including new york where do we get our waiver. Oregons governor tweeting out, how does oregon get that. Stuart ashley phil, thank you very much. Interesting stuff. Of course dont go away the third hour of varney coming up next. Achoo snap achoo snap achoo achoo snap snap achoo achoo feel a cold coming on . Zicam cold remedy nasal swabs shorten colds with a snap, and reduce symptom severity by 45 . Shorten your cold with a snap, with zicam. Stuart to the international elites. The announcement was a bombshell. Donald trump will go to diverse. I would love to be a fly on the wall when the news came through. It is an annual conference in this without where billionaires talk to millionaires about globalization, Climate Change and of all things income any quality. It is a nuke waiting to explode as the ground crew bordeaux is poured, they are contemptuous of him and he will talk directly to them. They need a talking to. For years the diverse crowd has promoted all the policies that gave us low growth, big government, open borders and social division. They love Angela Merkel who changed europe forever without asking anybody, they pined for barack obama who was the president of the world and when bill clinton attended he walked on water. America has a new president who is very different from anything they have seen before. I hope he doesnt retreat, donald trump could be tempted to make nice, show him hes not the crazy president they think he is. I hope he presents a forceful case for in America First foreignpolicy. I hope he makes the case america is an exceptional country like no other and we are not going to follow anyone down a socialist road and i hope he shows that growth is the way to prosperity for all. Dollars is the right place for our president to make that case. The third hour of varney and company is about to begin. [applause] happening in this hour Donald Trump Holds the Cabinet Meeting starting at 11 00 eastern. The liveaction presidency does unfold on varney and company. If there are headlines from that meeting you will hear about them first and that toby allows cameras into shoot the whole thing. We would love to see that again. Check the big board. How is your money doing . It is down on the Dow Jones Industrial average. One reason for the days decline his Interest Rates going up. We are at 2. 58 on the treasury. China suggested they might slow down or stop the purchase of us debt, increasing Interest Rates. Our next guest is not celebrating doubt 25,000. James garber a, what is wrong with dow 25,000 . Nothing in particular but not a particularly reliable indicator of the prospect of the economy and since im focused on that im not excited over a number. Stuart is an indicator corporate profits go up. To expand more robustly. Is it an indicator stocks are relatively high and just as likely they will come down is go up. When they come down that will be put all those things you suggested into reverse. Stuart are you suggesting the dow could drop precipitously from its current level in the near future . Stockmarkets have their moments but cant rule them out ever. Stuart where will we go into thousand 18 . We are on the base of 3 , you might call naked into play. I would not be surprised by that at all. Stuart i dont know your politics but i am going to guess you believe the stock market rally and Economic Growth only benefit the rich. Is that your position . No, i dont think so. You are seeing a fairly broad expansion that goes back to the early years of the Obama Administration and there have been broad benefits from that but it is a leader in by consumer spending, Business Investment relatively low, with tax changes, we see pressure on state and local benefits Cutting Services as income taxes and so forth are changed under this bill. The main benefit Going Forward will flow to the wealthy but there has been a recovery, drop in the unemployment rate. Nobody can deny. Stuart meeting in the swiss alps, the people who attend are globalists, Climate Changers, open border people come income any quality, i hope the president sticks it to them. What do you say . The notion that the people and office are worried about income any quality is amusing. Stuart completely dominated. All things that are from income any quality. We are looking of the wealthiest people, to some extent skeptical about the depth of their commitment to socialist transformation. Climate change is an issue we all have to face. I am happy to see donald trump go to the office, these are two groups, forces i hold in minimal high regard and i will be amused by the scene that is created. Stuart we will be happy to see this, thank you, come again soon. I want to talk about millennials and where they are putting their money, advised to put their money, wealth simple is the name of the company, the ceo and founder of that company is with us now. You specialize, having heard my diatribe at the top of the hour surprised youre still here, you specialize giving Investment Advice to millennials, that is what you do and you specialize in socially responsible investing. We see unprofessional thinking of investments differently than the last generation. Historically the way you choose investment would be through a relationship with your parents used an advisor who is an advisor at the bank. Stuart what do they invest in . Investments are popular with clients. Stuart would you put youngsters into bank stocks for example . We dont believe in picking individual stocks. Stuart bank stocks in general. Building locally diversified, Technology Stocks, with bonds and real estate. For us in a socially responsible portfolio we would exclude those as part of the problem. Stuart alcohol. When you think about stuart constellation brands. And look at longterm stuart they want to good investing, behaviors more than picking winners. The data is clear on this, and outperform their peers. And investments make money, the number one reason im investing, theres something that holds me to that plan. If markets go up and down over the longterm, the key is you have the wherewithal and discipline to stick to the plan over the long term separating smart investors from the rest of the long term, socially responsible investing that aligns with values is thoughtful when you look at the data. Stuart why do millennials theme to put more trust in bit coin then banks . Everybody is putting trust in bit coin the same way they saw the dot. Com bubble, growing like crazy and people think that is great. We remind our clients thoughtful investing is boring. Stuart would you put them in bit coin . We advise any client looking at that minimize their exposure, dont put more than 5 of your portfolio in bit coin because we dont know what that will do in the future, it may go up or down, the key is be comfortable with what you invest in. Put the rest in thoughtful diversified portfolio, we help our clients with portfolios for a long time. Stuart how much money do you make . How much do you need to fund a lifestyle you want . That is the most important question. Stuart they want to maximize your profit. There are different ways to do that was the data would show if you maximize your profit by picking stocks, trusting investors to say they are the best stock pickers on the street is underperforming the market a longterm. Stuart you go to dollars . No. Stuart you should. I am not making fun of you. Appreciate you being here. I want to show you a graphic, another benefit of the tax deal, several big Utility Companies have announced plans to cut electricity rates and the monthly bill for their customers. These include petco, baltimore gas electric pacific power, Rocky Mountain power, commonwealth edison. Cant read these. All that on your screen giving back to their customers as opposed to bonuses, wage increases going to customers. You approve a tax cut surely . Know you dont. The price of eastman kodak, look at it go. It jumped into the crypto currency game, launching an initial Coin Offering and the stock is up 60 , up 120 yesterday. Eastman kodak and the Construction Industry is booming and that is before an infrastructure plan goes into effect. And a Major Construction company in the new york area coming next, they built those fancy buildings on the screen now. 20 minutes from now the president will meet with his cabinet on infrastructure and it is the liveaction presidency we hope the cameras will get into that meeting and stay in it and show us the results. We will be back. See thats funny, i thought you traded options. Im not really a wall street guy. Whats the hesitation . Eh, it just feels too complicated, you know . Well sure, at first, but jj can help you with that. Jj, will you break it down for this gentleman . Hey, ian. You know, at Td Ameritrade, we can walk you through your options trades step by step until youre comfortable. I could be up for that. Thats taking options trading from wall st. To main st. Hey guys, wanna play some pool . Eh, im not really a pool guy. Whats the hesitation . Its just complicated. Stepbystep options trading support from Td Ameritrade stuart this is just coming to us, congressman darrell later from california is going to retire. Liz 30 republicans from the house are retiring including ed royce. Stuart bigname republicans leaving, not going to seek reelection. Got a good story for you you will like. A couple of High School Students put the camera on me. A couple High School Students making 100,000 mowing lawns, green work landscaping in colorado, started mowing lawns when he was 6, hiring a classmate a get together, paying 10 an hour, attracted some local commercial clients and making 100,000. The Construction Industry reportedly booming under donald trump and we have a 1 trillion infrastructure bill that is supposed to be coming down the pike. Rinaldi constructions ceo Anthony Rinaldi is with us. Let me put it to you bluntly. Has only you can. Stuart you dont have the workers. Today is an industry like i have never seen. We have been in business 18 years, i have been in the industry for 29 years and this is the busiest i have ever seen new york city in my career. Stuart new york city . Elsewhere as well. We are building in miami and miami is as busy and there are other markets throughout the country that are booming. Austin, texas is on fire. Stuart if you get this trillion dollar infrastructure plan, 100 billion a year for ten years that is a lot of extra demand on construction guys like yourself. You dont have skilled labor, you wont have it in the future, you want immigrants. 100 . If you are in the south florida marketplace, a lot of labor is coming elsewhere. Stuart what kind of labor . Electricians . Skilled trades, rigors, you name it, all those trades are skillful, trained and coming across the border. Stuart in a place like new york city that unionized, i take it. Believe it or not there is a lot of work in new york city, people dont realize it today, 80 of the permits being pulled today are pooled on 90 day projects, this is new york city. Stuart what kind of this is part of the demand. Stuart what kind of hourly wage are you looking at . A skilled guy . It all depends. If you are talking union or nonunion. Union skilled guys can be over 100 an hour. Operating engineers, i will give you a reality, operating engineers, these guys are making 400,000 a year. Stuart that would be a crane operator . 400,000 a year . Minimum. Stuart what would you get in miami. Miami in the 250,000. Stuart you cant employ somebody off the street is as i can drive that. Operating engineers is a different skill set 100 . Stuart money like that i would think labor would be pouring in, go to trade school or something, get qualified for that money. The work is booming, there is so much work going on, not enough bodies to fill it. Stuart a very good update on the labor situation in america. You know what you are talking about. You might want to come back. I can drive a train, i can do that. Do you remember circuit city . I can do wonders on a crane. Circuit city relaunching their website next month, planning to open kiosks in other stores, and show rooms. Liz and have their own geek squad to help with your google take a hammer to it. Stuart they declared bankruptcy ten years ago on the new ownership and making a come back. The effects of the minimum wage settling in, a burger chain, red robin illuminating busboys very soon, joined by the man who runs a ton of applebees in new york. Is he making drastic cuts . We will find out, donald trump is on board with getting the 21st and then moving on to Immigration Reform. He did say that during the meeting yesterday contradicted later on. We will have the judge sort it out momentarily. U. S. News world report, best jobs, i have the best job or maybe a crane operator is the best job. After this. Tomorrow, its a day filled with promise and new beginnings, challenges and opportunities. At ameriprise financial, we cant predict what tomorrow will bring. But our comprehensive approach to Financial Planning can help make sure youre prepared for whats expected and even whats not. And that kind of Financial Confidence can help you sleep better at night. With the right financial advisor, life can be brilliant. Stuart us news and world report unveiled the best jobs based on salary and work life balance. A number one, Software Developer. Number 2, dentist. Number 3 i want to be a dentist little shop of for his. A physician assistant, 4, nurse practitioner. 5, orthodontist. Lots of health we can see, the median salary for a Software Developer is 100,000 a year. I prefer to operate a crane for half 1 million a year. I got other headlines. Strange graffiti popping up over east dallas, nobody knows what it is about, purple tacos spotted on businesses and homes, who put them there and a total mystery. This is a good one, 13,000 tourists, heavy snow, six feet of snow. Please remember, pretty close to davos where they are big on global and Climate Change. Liz the debate with george soros. Stuart look at this. Video of this, a swarm of bats flying through a walmart in texas, flew around the grocery section, walmart is still working to get rid of them. Everyone worries about getting bats in your hair. This one. Here we go. I have got a video. Video of the Walt Disney World monorail traveling with one of its doors open, disney says the faulty train has been removed. Any minute the president will gather around the table with his cabinet, infrastructure on the list, markets are down. We are off 41 points. Stuart we were down 130, now we are down 38, Interest Rates rising offsetting the market a little bit but now we are at 25,346. It is going on now. A meeting in the white house, the cabinet is meeting, all about infrastructure. If there are any headlines out of the meeting you will know them first. Donald trump in the open meeting yesterday seemed to imply it seemed to me that he would allow daca first, let the dreamers stay and then we will deal with building the wall. That is what came across to me. Jody heiss, republican from georgia. I dont know how you read the president s remarks but that is how i read them. Daca now, he agreed with senator feinstein, we will get the rest later. I dont want to do that. I want to build the wall now. What say you . I agree and i would not say the president said necessarily daca now, the wall later. I didnt see it that way and later on when a reporter asked specifically if we do daca without me while he said no, clearly. We will see how that goes. You cannot have daca if you dont secure the border. We will face the same problem in a couple years from now. The wall is essential, securing the border is essential, doing away with the lottery system, chain migration, those types of things have become part of the discussion. Stuart what does it mean when we say let the dreamers stay . Go ahead with daca . Do they get green cards . Do they get citizenship . Do they have to wait in line . Do they have to pay a fine . Do they have to go to medical . Some kind of judicial stack . What does it mean when we say you are income you stay . That is what the discussion is about and the answers will ultimately give us, personally i am opposed to dreamers being able to break in line. They are here in this country illegally. If they want to be here, it is a privilege, it is an honor to be in the United States of america but we are a nation of laws and you got to do it the right way and they dont have any reason a right to break in line of others who come in the country legally. You see how it is going to shakedown but that is one of those issues i dont see them becoming citizens, dont see them breaking in front of the line. Stuart would you accept some kind of compromise if we do get the wall built and end chain migration and this ridiculous lottery would you accept some compromise on the daca people staying with green cards . Accept a compromise . Would you do that . That is what it is all about. What are the options before i make an absolute commitment . But yes. The basic answer to your question is compromise is probably going to take place because you have two different parties and many different individuals involved in the process was compromise, we will see what that is before i make a commitment. Stuart as you way up the opinion within congress do you think a compromise deal is possible in the relatively near future by march of this year . March is pushing it but ultimately yes, we are going to find compromise and hopefully get there by march or some time in that general time frame. People want to get this behind us, get it done but again, if i am a Business Owner hiring someone my first question is what do you bring to the table to my business . What are you doing to help us, not how will you help our competitors . The same applies to america. When people come to this country what do you are for our country . This is our country and we need to protect it. This process cant be rushed into. We need to do it right. Stuart thank you very much for joining us on a poignant issue for all of us . We appreciate it. Staying on immigration donald trump did put out this tweet this morning, it shows everyone how broken and unfair our court system is when the Opposing Side in a case like daca always runs to the ninth circuit and almost always wins before being reversed by higher courts. Judge Andrew Napolitano back to deal with that. The president is right. Judge napolitano smiling as youre reading it. Stuart blocked constantly on immigration. Judge napolitano this is a block heater welcome because it gives him the breathing room. A strong supporter of the president just said it is a little tight, dont know how we can get it done. They have until june and there is no heat on the president because he entered an injunction which prevents the dismantling of daca unless litigation is completed and they cant complete it until june. They have daca in place until june, that gives him five month to negotiate the comprehensive reform you have been pushing for rather than 40 days between now and march 1st. Stuart it is a good thing if you want to build the wall, end chain migration, get rid of the lottery and allow the daca people to stay. Judge napolitano if you dont want to take heat for the delay the delay was caused by the judicial branch, and other president. Stuart i am used to the California Courts doing some nonsense why the president can do this, this, this. What do the federal judge in San Francisco say you cant do . Judge napolitano the president is not serious about this, like i love the dreamers and went stuart he has no business citing that kind of statement from the president. Judge napolitano you have a president who communicates by relatively novel and unorthodox means but they are serious communications the come directly from his mouth and his head and his press secretary has said they are as official as if we put it on white house stationery. What do you expect the court to do . Stuart moment of silence. You are quite happy with this pack of liberals in the ninth Circuit Court in california running away with the constitution. Judge napolitano i think the president should be happy. Got a gift in that format doesnt take the heat for it. Stuart when do we change the night Circuit Court of appeals, they always want to that. Judge napolitano there has been half a dozen efforts to break the ninth circuit into three or four more circuits. Every time that happens it dies. It is likened to fdrs Court Packing where he wanted to change the size of the Supreme Court because he didnt like their rulings so efforts to change the size of the ninth circuit by making it smaller because we dont like their willingness rarely get the majority. Stuart replace it with a larger court or some of the members. Judge napolitano you could break it into two or three other circuits. It is the 15 most western states in the United States, enormous, enormous area west of colorado to hawaii. Stuart they wont retire, donald trump is the president of the United States. Judge napolitano federal judgeships are for life. Stuart there is a certain age they step aside. Judge napolitano most of them, liberal appointees who will not voluntarily leave when donald trump is in the white house. Stuart you were not a federal judge. Judge napolitano i had tenure but not in the federal system. New jersey, massachusetts and rhode island grant life tenure to stay judges. Stuart you could have had a job for life but you are sitting next to me for two hours a day. Judge napolitano i have been your 20 years, yesterday was my 20th anniversary. I was only a judge for eight years. I have been here 21 2 times as long. Stuart you may your reputation in the court and now on television. You make your money. Stay with us. Judge napolitano subject we are supposed to talk about. Stuart boeing, here we go, 763 planes delivered last year, record, 912 orders, beating europes airbus hands down, stock doubled in the last 12 months. The Financial Times reports foxbusiness parent 21stcentury fox is finalizing the purchase of ten tv stations from sinclair broadcast group. 21stcentury fox, only a month after wildfires swept through part of the state heavy rains triggered deadly mudslides leaving 15 people dead and many more are missing, that is horrendous in california. I want to show you this video of a heroic rescue. Coast guard helicopter crew pulling a family of five pulling a newborn baby, foryearold and two dogs pulled them out to safety captured on video. The caribbean has been shaken by one of the strongest earthquakes to hit in modern times, 7. 6 magnitude, 25 miles off the coast of honduras last night, no reports of damage on land but synonymy advisers in that region. Considered the caribbean. Remember the shrimp on a treadmill . The president said he will consider restoring earmarks. Tom coburn, former senator who used to release the annual pig book. We get his take. Toyota building a new 1. 6 billion Assembly Plant in huntsville. Making America Great again, the new detroit down south. The president holding his Cabinet Meeting on infrastructure, news from that meeting, you will get it as soon as we do. Changing with stylish makeovers. Then at your next meeting, set your seat height to its maximum level. Bravo, tall meeting man. Start winning today. Book now at lq. Com. From godaddy in fact, 68 of people who have built their. Website using gocentral, did it in under an hour, and you can too. Build a better website in under an hour. With gocentral from godaddy. Thats it. Im calling kohler about their walkin bath. Nah. Not gonna happen. My name is ken. How may i help you . Hi, im calling about kohlers walkin bath. Excellent happy to help. Huh . Hold one moment please. [ finger snaps ] hmm. The kohler walkin bath features an extrawide opening and a low stepin at three inches, which is 25 to 60 lowr than some leading competitors. The bath fills and drains quickly, while the heated seat soothes your back, neck and shoulders. Kohler is an expert in bathing, so you can count on a deep soaking experience. Are you seeing this . The kohler walkin bath comes with fully adjustable hydrotherapy jets and our exclusive bubblemassag. Everything is installed in as little as a day by a kohlercertified installe. And its made by kohler americas leading plumbing brand. We need this bath. Yes. Yes you do. A kohler walkin bath provides independence with peace of min. Call for a free kohler nightlight toilet seat with consultation. Or visit kohlerwalkinbath. Com for more info. Nicole i am the call pedallides, toyota and mazda have chosen, 1. 6 billion car plant, stocks trading to the upside. 4000 jobs. By 2021, and produce 300,000 vehicles, alabama is a home to Assembly Plants, mercedes, honda and hyundai, and donald trump and no way, the plant in the us, pay big board attacks, selection of this comes after toyota was criticized for building a broad and at home and toyota here and toyota said they would suspend 10 million in the United States. Stuart is this a warning signal about indebtedness . Credit card debt going up. We have 1. 02 trillion of outstanding Credit Card Debt as of november and it is up considerably from april of 2008. Is that a warning signal . Something a little uncomfortable at the president open to the idea of restoring earmarks. Maybe you should start bringing back a concept of earmarks that will bring you together, do it honestly, get rid of the problems the other system had, one thing it did is bring everyone together, this country has to be brought together. Stuart you heard it, lets hear from former senator tom coburn who is back with us today. Was the president talking a little tongueincheek . How well did that work, putting 70 billion in earmarks, put your taxpayer money and send money to your state to make yourself look good, there is a real ethical problem with earmarks. Earmarks is a rare phenomenon. It grew. If you look at the chart of earmarks, it grew exponentially from 1994 to 2005. Exponentially it grew. The oversight by members of congress declined explicitly, and how do i look good at home by sending money home . The other thing to think about is the donor state versus recipient states, who get the majority of earmarks, appropriators, why does anybody want to be on the appropriation committee. And you can in fact, and the conflict of interest in terms of Congress Stuart is the president suggest that you can get something done. It can negotiate a compromise without buying them off. That is true of the careerist, and not through the noncareerists. We need and the entity which 84 of americans agree with his term limits. Limit the amount of time they can be there so they represent the thoughts america was built on, bring them to washington, in washington career politicians rarely have an idea of Common Sense Solutions because they have no real world experience. Stuart that is true but you got to change the constitution. We are getting ready to do that. We are going to have a convention in 5 or 6 years where we will offer amendments to the constitution that will go back to the states, members of congress, you have to act responsively, no longer can you physically borrow 1 trillion a year without cutting 400 billion in waste, fraud and abuse and duplication the gao said that there. Stuart there will be a convention . We have 12 states, we end up with 20 at the end of this year, we are moving to get the 34 states to call in Amendments Convention on three areas, term limits, scope and jurisdiction of the federal government and limitation in terms of fiscal responsibility of the federal government so they make hard choices, we were not making hard choices, nobody. Stuart you look great. You come back. Good to see you. Stuart you look terrific, thank you. We have nike unveiling the us a lipid teams uniforms ahead of next months winter olympics, they will wear these on the podium during the ceremonies. Ralph lauren is designing the opening and closing ceremony for team usa, those or pictures thereof have yet to be released. The president is holding that Cabinet Meeting, any headlines, you will hear them very quickly. More varney after this. Curity panel, keypad, key fob, entry and motion sensors and for a limited time, get a camera included and installed at no additional cost. Retail. Under pressure like never before. And its connected technology thats moving companies forward fast. Ecommerce. Real time inventory. Virtual changing rooms. Thats why retailers rely on comcast business to deliver consistent Network Speed across multiple locations. Every corporate office, warehouse and store near or far covered. Leaving every competitor, threat and challenge outmaneuvered. Comcast business outmaneuver. Stuart if you are a restaurant chain and the minimum wage goes up what do you do . You cut back. Red robin plans to get rid of busboys come all of them. Jackinthebox going to robots and tim horton, they are cutting employee benefits, apple metros ceo, you run how many applebees . 38 . The obama years we cut back a few. Stuart i this is a tragedy because all those entrylevel positions are going to because some people get 15 an hour. Are you with me . I am with you 100 . It is all done under the guise of helping the working man. What about the guy who loses his job . How much did it help him . I am going from here interestingly enough to a meeting of the Employment Policy institute, coming to new york to meet in my facility with bunch of new york city restaurant or is to talk about this and what we can do, they are damaging the industry. The whole focus in the restaurant industry, casual dining, fast food, is how do we go laborless, there are restaurants opening with no labor, you do everything at a kiosk, you open a thing on the wall, pull your food out, dont see a soul, laborless, not less labor, laborless. The more anything costs, obviously, the more you want to see what you can do to substitute that cost. Stuart this is all the result of regulatory changes like obamacare and 15 per hour. We are all about experience service, hospitality, the word hospitality is not a kiosk in a hole in the wall. That is not hospitable. Stuart you are never going to get any local government to lower the minimum wage again. Maybe oregon where they passed it and withdrew it, took it back because there was backlash, servers dont like it, people who are the recipients of this increase dont like it because they feel their job security is now tampered with. Stuart do tips go down . No because it doesnt affect tips. It is on the employer. Stuart if i walk into a restaurant and i know the waiter or waitress is making 15 an hour, way more than they used to make, i am going to wait a minute am i going to give you 20 , 15 . We havent seen that. An interesting observation and might be down the road but this is brandnew right now. Stuart the other side of the coin, you guys in business got a nice big tax cut, a lot more money. We are both smiling. Stuart are you going to put that extra money back into the restaurant chain . Without a doubt. It is already happened where people said the left said taxcut people will take more employer income salary, the boss, it is not that way at all. The whole concept is to put money back and we have given out to raises quite frankly at our executive team level. Stuart this is ten pages of companies that have given back, bonuses or higher wages. If it is not i will pencil it in. Stuart thanks for joining us. Stuart there will be more varney after this. Neil we were down 1 stuart we were down 130. Moments ago we were down eight. I want to know if liz and ash think we will close the market up. Optimist. Well turn it around. Marginal gain. Stuart marginal gain. Liz it will be flat. Stuart i say the Dow Jones Industrial average will close with a modest gain. Youre on my side. Liz of course. Stuart on that note, give it to you, neil. Neil thank you very much, stuart. Were following a couple developments here, folks. I apologize for my voice because leaving a lot of investors speechless. We have not seen this backup in Interest Rates in 10 months. 2. 6 , it sort of slid between 2. 2 and 2. 4 . You have the likes of bill gross, the former bond market guru saying he think as bear market has taken hold, a bear market taken hold of the bond market. The bill millionaire gazillionaire investor saying this leads to higher stocks. He