Transcripts For FBC Varney Company 20240714

Goods this time from the eu. The big political story of the day, congresswoman alexandria ocasiocortez going after the Border Patrol during a visit to a migrant detention facility. Wait until you hear the shocking claims she is making about conditions there and you will also hear how Border Agents are responding. There is a lot going on this morning. Varney company starts right now. David nike pulling a special fourth of july sneaker featuring an early American Flag after Colin Kaepernick got involved in the whole situation. He reportedly told nike that the early American Flag on the shoe is offensive because of its connection to an era of slavery. Joining us is market watcher john layfield. John, is nike going too far with Political Correctness . Im not sure here. Like i kind of feel for nike here because they are trying to stay apolitical as crazy as that seems. They just pulled a product in china because the japanese designer had some ties to the hong kong protest as far as support. Nike did a great thing with the first Colin Kaepernick commercial commercial, a commercial of inclusion and inspiration. The mistake nike made here was if you are going to pull the shoe, dont ever put it out to begin with. Its a very easy search. As far as extremist groups using this as a symbol, i searched on google today, i looked through articles. Theres no group out there that uses this as their official symbol. Some do view it as a sign of hate, as a sign of slavery, but its not very widespread out there. I think the mistake nike made was ever putting it out there to begin with. David but john, George Washington was a slave owner, okay . Thomas jefferson was a slave owner. Does that mean any reference to those guys, their pictures on things need to be removed . David, i dont find the shoe offensive. I agree with you. I agree theres a slippery slope here. I have a problem with andrew jackson, who committed genocide against native americans. David im talking about washington and jefferson. Those guys were slave owners. In the case of George Washington, they had a lot of slaves. I mean, what does this mean, is any reference to the era of slavery now verboten . No, i dont think so. Im agreeing with you. I find it reprehensible these guys owned slaves. I dont understand why that is a sign of the times, a sign of the culture. I hate that, that our Founding Fathers who were very they were great people, other than they had some problems with the fact they thought they could own another human being. I mean, thats a real issue to me. But as far as this the problem with nike should have never put it out and withdrew it because that makes this controversy so much worse. David sometimes controversy helps nike. We saw that happen before, that you mentioned kaepernicks original commercial. We saw their sales go up after they hired him. But you and i went to a wrestling match a few weeks ago. It was a wonderful time and i thank you for that. It was a magnificent experience. You come from the field. Wrestling is one of those sports that has all races, all sexes, all kinds of people, and they are all american patriots. You would never find this controversy in wrestling, would you . Absolutely not, because you know, its kind of like world war ii was what got rid of segregation in the United States because once you realized you could serve with people of other color and the only difference between you and them is the color of your skin, then all of a sudden everything becomes equal. Jackie robinson crossed the color barrier. Once you are in a locker room in sports you realize everybody is the same. Sports is the great equalizer here. Thats why the first kaepernick commercial was one of inclusion and inspiration. This was a mistake by nike. If this was the current American Flag i would really have an issue with it. Im giving them a bit of a pass here because nike should have just done a Little Research before they put this thing out, then had to retract it. Thats the real problem nike has. David lets move on. Tucker carlson talking big tech with President Trump. Roll tape. So you just said that what the Tech Companies are doing may be illegal. Is there a role for the Justice Department in finding out . There could be. I dont want to even say whether or not they are doing something but i can tell you, there are a lot of people that want us to. There are a lot of people, all you have to do is pick up a newspaper and read it or see it or watch fox or watch some other network, there are a lot of people that want us to take action against facebook and against twitter and frankly, against amazon. Yep. Amazon also. Lot of people want us to take action. You going to . I cant say that, tucker. David should big tech be worried . Absolutely. I sold my Facebook Stock in the last couple months because of this. I think congress is going to go after these big tech guys. Congress loves having somebody to go after. Whether its big banks or oil companies, they love having red meat on the plate to go after somebody with a less favorable Approval Rating than themselves. They are going to go after big tech because this is right now, it symbolizes that wealth inequality, symbolizes the big brother out there. This is something i think congress is going to go forward with. David all right. John layfield, great to see you. Thank you very much. To immigration. Aoc slamming the detention facilities at the border. Roll tape. This is them on their best day here and they put them in rooms with no Running Water and these women were being told by cbp officers to drink out of the toilet. They were Drinking Water out of the toilet. And that was them knowing a congressional visit was coming. This is cbp on their best behavior telling people to drink out of the toilet. Reporter did you see somebody actually do that . David notice the window went up before she answered the question whether she personally witnessed that. Here now is how the Border Patrol has responded to her charges. We dont treat people that way. We provide fresh water, we provide food, we provide sanitary items as well as items for bathing and personal hygiene. We have fresh water available at all times in our facilities. David joining us, charlie kirk with turning point usa. Charlie, your reaction. Well, look, first of all, theres just so much demagogery around this issue. Instead of alexandria ocasiocortez going down to the parts of the border where theres no barrier that actually is allowing some of these horrible people to come into our country, not saying people in Detention Centers are but there are some horrible people that come into our country, instead she goes to these Detention Centers and its a game of he said she said. I have a solution. Heres a really quick solution. Why doesnt the president of the United States offer a waiver for cameras to go into these facilities so we can see it for ourselves . So we can really see whos telling the truth here . Because it seems as if phones are taken and you are not allowed any cameras or anything so its just the Border Patrol says one thing, aoc says one thing. Lets see for ourselves. It seems as if there is such a discrepancy between reality and what people are saying because they are so far apart. I will say this. One of the main reasons these Detention Centers are created is to try to prevent child sex trafficking. One of the most detestable, horrible things the world has. Because sometimes these children are brought across the southern border, sometimes with people who are not their parents. David but charlie, theres another point here which is that congress has done virtually nothing. They did just pass the 4 billion, after having their arms twisted for months and months by the Trump Administration, and by the reality of a situation that they refused to acknowledge for months and months and months. So they have done little. You have terrible overcrowding at these facilities as a result. 400 is overcrowded and some of these facilities have 1,000 people in there. After doing nothing, they visit overcrowded facilities and then complain that they are overcrowded. This is the height of hypocrisy. Yeah, exactly. The president of the United States made a courageous and bold move, to first of all oversee a very long Government Shutdown to try to solve this crisis. We seem to forget that. Remember he didnt go, you know, where he was planning to go over christmas or new years or most of january because he wanted to solve this crisis and the democrats said, what did they say . They said he was manufacturing a crisis. Do you remember that . For weeks we had to hear this crisis was manufactured. Then President Trump signs the declaration of emergency saying this is indeed a crisis. The democrats say oh, hes now even further trying to manufacture a crisis. Now they say oh, its a crisis that President Trump is ignoring. Seriously . Are we supposed to take these people seriously . Because they have ignored this time and time again, the president has done everything he can and Border Patrol needs more resources and we need the wall. The wall will solve so many of these problems. David by the way, Border Patrol are taking these charges seriously. They are investigating. So we will get to the bottom of this. Very quick one. A poll has suggested that Kamala Harris is really inching closer to biden very very quickly as we can see, just a couple points separate them now. Is that trend going to continue . I think so. I dont think joe biden will be the nominee. You saw that debate is just the very beginning of the end of joe biden. David charlie kirk, good to see you. Thank you very much. Lets check the futures. As you can see, they are down not by a lot. This time yesterday, they were up about 250 points. So there was a dramatic jump yesterdays futures, that came down but we did end up with a triple digit gain on the dow. Today paring back a little as people begin to analyze and digest a lot of the favorable trade news which has turned a little more sour now, particularly towards the eu. Meanwhile, apples tim cook is pushing back against reports that design chief jony ive was unhappy with the companys leadership and thats why he decided to leave. We will tell you what cook is saying now. This is news thats sure to make President Trump unhappy. Some of the nations Biggest Pharmaceutical Companies raising prices on dozens of drugs. Weve got the story on why and how much. And the president issuing a new warning against iran, as the country admits that it breached uranium limit in the 2015 nuclear pact. You will hear that sound coming next. Varney company just getting started. S. Oh, here we go. I know i cant play an instrument, but this. This is my forte. Obviously, for auto insurance, weve got the wheel route. Obviously. Retirement, were going with a longterm play. Makes sense. Pet insurance, wait, let me guess. Flea flicker. Yes howd you know . Studying my playbook . Yeah, actually. [what about him . Lets do it. [ sniffing ] come on. This summer, add a new member to the family. Hurry into the mercedesbenz summer event today for exceptional offers. Lease the glc 300 suv for just 419 a month at the mercedesbenz summer event. Going on now. David more now from President Trumps interview with Tucker Carlson. Here he is talking tough on iran. Roll tape. If something should happen, were in a position to do far worse by not doing it, but hopefully we dont have to do anything. Iran now, since we terminated that horrible deal which was a truly horrible deal. You cant let iran have a Nuclear Weapon and you cant let certain other countries have Nuclear Weapons. Too devastating. David joining us is van hipp with American Defense international. So van, is iran listening to the president right now . I think theyre feeling the pain, thats for sure. This president is holding the cards. Hes holding the cards, his campaign of maximum pressure is working. I think this is important. I think this president understands, this is why i like his Foreign Policy, that theres a real link between iran and north korea. Other than china, iran has been the great financier of north Koreas Nuclear and Ballistic Missile program but what this president has done and with the sanctions that we put on, they dont have the excess cash now to engage in mischief with north korea and support their nuclear and Ballistic Missile programs. Theyve now got to deal with 50 inflation at home and food prices that are going up 85 in the last year. David let me just stick with iran for a second longer, which is they clearly are violating, they are admitting they are violating the deal that obama made with them. If they begin to enrich uranium to a dangerous level, what do we do . Some people are saying let the israelis do it. I think theres more we can do right now. I think the president can step it up. Go back to 2009. That regime was teetering, it had hundreds of thousands of people in the street, why . Because you had six u. S. Based farsi speaking stations that had a profound impact on the young people of iran. Lets do what we can to recreate that situation. We have the network which belongs to our state department thats supposed to promote western values and western ideals in that part of the world. Lets have more farsi programming aimed at the people of iran. Lets communicate with the people of iran and try to recreate that situation that existed in 2009. You take that together with the sanctions, let me tell you, the ayatollah will have his hands full. David you already teased this a little bit on north korea. The Trump Administration officials are reportedly split on this. We know there are hard liners and soft liners involved in that. But just the aspect of a president of the United States sort of not accepting the status quo. Ronald reagan did not accept the status quo with the soviet union. He eventually won the cold war against the soviet union. It looks like this is another disruptor president who doesnt like i mean, we have had a status quo with north korea since the end of the korean war in the early 50s. This president wants to change that. Correct. Prior administrations kicked the can down the road. The situation got worse and worse. The threat was very real. This president has an unorthodox style. Say what you want and let me tell you, this president works 24 7 for the American People and i dont see when the guy sleeps. I got to tell you, these next few weeks are critical. I have long advocated what i call a pathway to denuclearization. I think youve got to take incremental steps. I think steve and his team put together some great things right up until the hanoi summit but i think the reason the hanoi summit failed is they cannot agree what denuclearization means. I believe you got to start with a pathway to denuclearization. That begins with accounting. Youve got to be able to get to the remaining Nuclear Research center. David what about a pathway to getting u. S. Troops out of south korea . Well, again, i think youve got to i mean, the president has as far as a military exercise, he put that on hold. The troops need to stay there. You need, again, you got to keep that maximum pressure up. Thats what has brought kim jongun to the table. David maybe a change in leadership. Maybe under south korean control other than u. S. Control. We will see about that. Great to talk to you, van hipp. Appreciate it. Heres a look at futures. Again, they are down a bit on all the markets. But just a bit. Look at the s p, just down. 02 right now. Nasdaq, which did have a big win yesterday, down a little bit as well but not a lot, going on with the futures. We will wait and see how things shake out when trading starts in about ten minutes. Heres a stat i bet you didnt know. Costco makes more money selling clothes than either Neiman Marcus or old navy. How the big box retailer is turning into a fashion powerhouse, next. Is where people first gathered to form the stock exchangeee, which brought people together to invest in all the things that move us forward. Every day, invesco combines ideas with technology, data with inspiration, investors with solutions. Because the possibilities of life and investing are greater when we come together. Hey i live on my own now ive got xfinity, because i like to live life in the fast lane. Unlike my parents. You rambling about xfinity again . Youre so cute when you get excited. Anyways. Ive got their app right here, i can troubleshoot. I can schedule a time for them to call me back, its great you have our number programmed in . Ya i dont even know your phone anymore. Excuse me . what . I dont know your phone number. Aw well. He doesnt know our phone number you have our fax number, obviously. Todays xfinity service. Simple. Easy. Awesome. Ill pass. David take a look at shares of costco, up 30 this calendar year, but would you ever think of it as a fashion powerhouse . Maybe you should. Lauren simonetti has the story for us. Lauren 7 billion a year in Clothing Sales at costco. Who thought . You know why . Theres no stigma anymore between buying your toilet paper and jeans in the same place. They go together at costco. If you add in they get these cool brands like uggs and their jeans, so if you are there at the right time, you can find something really cheap. Its great for the brands because costco has this more affluent clientele so they arent diluting their image and are able to offload excess inventory. Its a win win. David my father used to buy suits, god bless him, 1999 at sears roebuck. It happened before but costco has taken it up a notch. You have another fashion story for us . World athletes are wearing nike. Its a good news story about nike, right . Lauren finally, a good news story for nike. Take a look at that jersey there, thats the u. S. Womens National Team home jersey. It is the number one alltime bestseller, mens or womens jerseys on nike. Com in one season. It sells for 90. Go, team usa. They are playing 3 00 today versus england. I knew ashley would be on the panel so i brushed up. Ashley very sweet. Lauren nike is aggressively targeting the women. David dont forget to watch team usa play england in the world cup today at 3 00 p. M. Eastern on fox. All right. Futures looking to be down a little bit but just a tick. In fact, the s p has turned up and nasdaq is now unchanged. Anything can happen. Stick with us. Futures are coming up. My body is truly powerful. I have the power to lower my blood sugar and a1c. Because i can still make my own insulin. And trulicity activates my body to release it like its supposed to. 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You need decision tech. Only from fidelity. David hollywood has a case of a serious case of the box office blues. Americans are not going to the movies like they used to. Susan i guess you can blame netflix for this. We saw a Record Box Office sales last year of 11. 9 billion. This year so far, 2019, we are down close to 10 for the domestic box office. Summer ticket sales are down 7. 3 . International is down 5 as well. You can blame some franchise fatigue. We have had lackluster sequels, men in black didnt do well. But get this, disney owns 40 of the u. S. Market share, 40 , and they have had end game be a success, captain marvel and aladdin and toy story 4. This weekend, spider man is coming up. Star wars later this year. David you can also blame the 108 inch tvs people have now. Nobody kicks the back of your chair. Movie screen right at home. Ashley come up with new ideas. Lion king 28. David the opening of the market, we had a down futures in the past couple of hours but it was beginning to turn around just a little bit. Lets take a look at the opening bell. Quick check of the big board as the bell opens. Again, we were down a little bit. The s p began to turn around but it didnt sustain that. Now we see a downward move on the dow as well. You can see more red on the screen than green as the number of stocks on the dow 30 really turning red but not terribly so. Its going to be a mediocre day until things turn around one way or the other. We may get news out of washington, particularly regarding trade not with china necessarily, but with trade with the eu. There is talk of new tariffs against the eu. That may affect the market, the overall market, coming up. The s p, if we can take a look at the s p, as we are looking at the dow jones, is down, again, that had turned slightly positive right before the opening bell. Lets check the tenyear, the nasdaq, by the way, is about flat, too. But the tenyear, lets look at that. The tenyear yield is now 2. 01 which is exactly where it was yesterday on the opening. Gold, which has been going up and then down dramatically, is now in an upward move. It came well off those 1400 levels, 1400 plus of last week, now down below 1400 by about 5. 50. Oil is down a little bit. This is a very interesting development. Despite opec saying its going to cut production, we have heard opec promises before and seen them betrayed by members almost consistently right after they make those promises. Joining us, d. R. Barton and scott shellady, susan li and ashley webster. We have to start with nike, pulling the sneaker after backlash from Colin Kaepernick. I remember that nike sales actually went up after the first kaepernick controversy. D. R. , that may be whats going on here. Any noise, even if its bad noise, seems to be good for nike, right . I think it is, you know, theres no bad press is one of those things when youre Building Brand but remember that the first kaepernick ad that got so much press when they brought him back in was a really inclusive kind of thought process, right. This one i think is sort of a more offthecuff knee jerk one. It will be interesting to see how this plays out and how nike can take this and hopefully wrap it around to get back to lets get everybody playing together which is really the theme nike wants. David scott, there are competitors out there for nike. Im wondering if they may take advantage of this, start putting flags on their shoes. I dont think so because i think the most corporate boardrooms in america are very liberal. It doesnt have to be shoes. Go back to when Jpmorgan Chase put out ideas about how to save money and it was deemed to be discriminatory towards poor people. The corporate boardrooms in america run left, they run liberal and we will see more and more of this stuff because they dont have the you know what to stand up against it. Susan we just had earnings from nike last weekend. Their sales went up 4 , north america. China still performing well for them. In fact, the stock is up some 15 on the year. Whats concerning investors probably the trade war and how that impacts nike since they manufacture a lot of goods outside of the u. S. But this air max one, the version of the air max one, already cult product on what is that stockx. Its already selling for as much as 2,000. Ashley i think nike were a bit tonedeaf with this, not thinking it through. Does it hurt them . Not at all. David you wonder, i will bring this back to d. R. , how far this goes because there are so many artifacts in our history, cultural history, that are used by commercially, everything, lets face it, when we pay for things with cash, if you ever do that anymore, lots of slave owners are on the cash you pay for things with. How far does this go . Yeah. I think as cultures and ethnicities deal with these things, especially the point you make from our history, that we have to realize that we all need to be sensitive to what other people are saying, kaepernicks main point, but we also have to realize there were some Amazing Things that happened in our country during the betsy ross era as well and celebrate those. David by the way, scott, all the pioneers, all of the founders, were not slave owners. Theres a terrific new book called the pioneers about the pioneers right at the time of the revolution, just after the revolution, who went out to ohio and began to move west. They actually specifically had in their charter a nonslave component. It was a big split. We still can be very proud of these pioneers, the people that founded this country. All they did, everything they went against and succeeded in order to make this great country. Look, were not going to rewrite history here. We have to stop the rot. Judge those folks against the peers of their time. You cant judge them against todays peers because who knows, a hundred years from now, it could be deemed really bad to be a pet owner. You have to be careful when you do that. Youve got George Washington University Getting rid of the colonial because people think its insensitive or demeaning. We have lost our minds here. We have to stop the rot, judge people against their peers and move forward and not rewrite history. David lets get back to the markets. We had a soft rally last session after news that the trade truce, scott, is that because the news is already baked in or is everybody just on vacation . I think its more to do with the vacation part of it. The traffic coming in for me the last two days has been a lot nicer. However, thats how i judge it, right. Is there a seat on the train, do you have a parking spot when you finally get here. Yes, we havent had anything significant, i dont think. I knew well, i felt as though the politicians were going to disappoint us, we wouldnt get any real new china news over the last weekend because i think theyre going to wait until the election, i really do. Why do a deal now . You might be able to do it with somebody next november. Weve got that to worry about. The volume is down here, i can definitely tell you and when that happens people kind of take cover. We have a really interesting overnight occurrence when we had the new tariff on perhaps 4 billion worth on the eu. I was expecting us to have a much bigger down opening day than we did because if you remember, just back to brazil in december, we had the same thing, the tariffs were pushed back, we got a 90day reprieve, then the next day the president came back with the tariff man tweet and the dow dropped 800 points. Ashley right. So i think this is a pretty good next day so far. Ashley this is all about the subsidies of airbus which you know, the french have been doing this for years. This is one of the things that really sticks in the president s craw is Government Support of a company and doing business and competing with u. S. Companies ii. E. , boeing and hes right. The chinese have been doing the same thing. David scott, the thing about this president , even if you sign Something Like the usmca, the new mexico canada trade deal, even if you sign something, you can still get the threat of tariffs which he did in order to get some help on the border. Even if somethings signed, it doesnt necessarily mean that you can take it to the bank. No, but i mean, even though somethings signed, all he wants to do is get folks to trade with us fairly. Just trade fairly and we dont have anything to worry about but thats been the issue. We have been taken advantage of for the last 30 years. Thats going to be a problem. We have been the bank to the world for the last, i dont know, 50 years. All you want to do with the u. S. Is trade fairly. Hes going to put his legacy on the fact that hes trying to change the way we trade around the world, and just be fair. David thats a fair point. Ashley yes. David tim cook pushing back on the narrative in the media that jony ives departure stemmed from cooks lack of interest in design. Cook said that narrative shows a lack of understanding about how apples design team works. What do you think . How do you justify that . I think the interesting part of this story was that it was so big that tim cook wrote it in a personal email to a journalist to refute it. So it really got stuck in his craw. The interesting point i think about his email was that he did not actually say how much he was inserted into the design process which was one of the big negatives. David hes clearly not a steve jobs. Hes the guy after all, apple put together stuff that other people were putting together but they put it together with a design form that was unique. Its that design form that jobs had that tim cook doesnt. Susan steve jobs is a visionary. In this article, they criticized him for being operational. Thats kind of what he was. He was a c. O. O. Thrust into the ceo position. David thats jony ive. Susan basically the wall street journal article says this departure was months in the making, they were disengaged, wasnt getting along with tim cook and his vision for the company Going Forward so might as well take a step back. In that article, it seems or that response from tim cook, hes basically saying its absurd, there are new design devices coming down the pipeline for apple. We are yet to see it at this point. Says it is a transitional period for the Company Heading into services. David its also an idea of leadership. Again, if you have a leader who doesnt have that overall sense of what the company should look like, steve jobs, it was clear he had a look that sort of epitomized the whole company. You dont necessarily get that with tim cook, do you . No. I mean, i have been in corporate environments like that before myself. A lot of times when you take the chief accountant and try to make him into a ceo you run that risk. That happens all the time. Or you take the chief operating officer and hes the visionary and you put him in that job and he does a really good job. I think number one, its going to be hard to replace jobs. Number two, they havent really had anything exciting, i dont like the watch, ever since steve jobs has passed. So hes the operations guy. Hes going to be that person but hes not the visionary and we are probably judging him against too high of a bar. David guys, thank you. Great discussion. Appreciate it. Lets take another look at the big board. It is down, actually it came down a little further than that. Its recovered a bit. It looked like it was going down to triple digit losses, then its come up a bit. Its a very unsettled market. As scott was saying, a lot of it has to do with the number of traders out there. There are a lot of people on vacation. A fewer number of traders could make a bigger difference. You could have more volatility. Thats whats going on today. President ial candidate beto orourke blaming Climate Change for the migrant crisis. We will tackle that one in our 11 00 a. M. Hour. Plus a new report claiming that the wealthy are fleeing miami beach, fed up with overcrowding, all the noise, all the trash. Too many spring breakers as well. The mayor of miami beach joining us next hour to stand up to those charges. And you will soon be paying more for some common Prescription Drugs. Why drug makers are raising prices now and by how much. More coming next. David time to check the big board. It aint like yesterday, where this time we were about ten times to the plus side of where we are right now. But the markets not doing terrible. We should mention, by the way, i mentioned before that Trading Volume is down. Its 78 of whats normal at this time of the trading day. Thats because a lot of people are on vacation. That means again that a couple of big traders come in and that can make a difference between an up or down market. We will see that volatility throughout the day. According to a new report, 20 companies increased the list prices of over 40 Prescription Drugs by an average of 13. 1 . We know the president is not happy about this. Joining us, economist peter morici. Why are they doing this, peter . They have the opportunity. There are some shortages out there but also, they have figured out that government cant negotiate on Prescription Drug prices and they are going to jack them as far as they can, as much as they can, before the next election. Likely after the next election, regulation is coming. David well, this is to me shortsighted because they must realize that if a democrat is elected president and if the democrats take over the senate as well as the house, they are going to get price controls, and price controls are far more serious than anything this president has been suggesting, the kind of price controls that democrats are going to institute. This is the last big day in nashville before the union troops arrive for reconstruction, when all the limes were being eaten. Whats going on here is these guys have already pigged out enough on the American Consumer and on the American Health care industry, that they are going to get regulated. The higher they raise the prices now and they recognize that mr. Trump is weak on this issue, because he doesnt have republican support for any kind of substantive action, therefore, they are going to push the prices as far as they can as sort of their initial negotiating position. Think about the Tobacco Industry just before the settlement. They pushed prices up a lot so they could negotiate from there as to how much they gave back to the government. David price controls always lead to shortages. I cant think of any case where they didnt. Because people just wont produce as much for less of a profit or even a negative profit. Are there going to be shortages if there are price controls, drug shortages . Well, every other industrialized country controls prices on Prescription Drugs. You have to consider that this is a product where the manufacturing costs are generally not very high. The margins are can be very large. So my feeling is we are not necessarily going to face shortages. Now, there may be some contrived shortages in the beginning, but the basic problem we have is the fda has to make market entry very easy. Theres no magic to making Prescription Drugs. My feeling is that most of these are simple chemical compounds we use tod to make in drugstores. I used to work in a pharmacy as a kid. I know what goes on. My feeling is that is not something that has to happen. David we only have about 30 seconds now but the economy, lets talk about it, because americans love the economy but dont necessarily give all the credit to President Trump despite the regulatory cuts, dramatic, despite the tax cuts which led to a lot of companies despite the recharging of our energy industry. Why is that . How can trump turn it around before the election . Well, the thing is the trump team has not done a very good job of messaging with regard to the economy. He likes to point to the stock market but to people that vote, most of them dont own stocks and he hasnt pointed to their bigger paychecks and things of this nature. Hes let the democrats and frankly, the liberalleaning economics profession seize the agenda and let them get away, for example, in the debates talking about how, you know, the republican tax cuts favored the wealthy. 90 of taxpayers got tax cuts. Those that took tax increases were in states like new york where they had high incomes and were basically using poor folks in West Virginia to subsidize a bloated gracie mansion. David it has to turn around before the election. They have to get back on the economic message. They have to do it. If they dont, there may be a repeat of 2018. Got to leave it at that. Good to see you, my friend. Thank you very much. Appreciate it. Lets get back to the dow 30 stocks. As we can see, the market is trading down. Weve got about an even split between red and green there on the screen which is not a bad thing. 15 up, 15 down. Again, things are moving partly because of the fact that a few traders in a market where theres not a lot of activity can make a big difference. Meanwhile, a new startup wants to make flying on private planes as easy as ordering an uber. The ceo is on next to tell us how he plans to make private air travel more convenient, less expensive. That sounds good. Xfinity mobile is a Wireless Network designed to save you money. Whether you use your phone to get fit or to find the perfect gift, youll use less data with a network that automatically connects to millions of wifi hotspots and the best lte everywhere else. So you save hundreds of dollars a year on your wireless bill. Xfinity mobile has the best network. Best devices. Best value. Simple. Easy. Awesome. Click, call or visit a store today. David well r, right now we are going to talk to a company that is disrupting air travel. They want to make booking a private it says jet here but its a plane, as easy as hailing a ride from uber. Joining us is the ceo of fluber. I see what you did there. It said private jet. These are small prop planes, right, that have service about five passengers, is that right . Right. David and you can get an uber to come pick you up, fly you right or drive you right to the airport. Can you avoid all the long tsa lines . Absolutely. First of all, thank you for having me on. David of course. Its a pleasure to have you. Logistically, we all know the logistical nightmares we go through at the airport, the lines. I used to in my past career, for an 11 00 meeting i used to have to take an 8 00 flight, wake up at 5 00 in the morning, get to the airport an hour and a half in advance. Its logistically just a nightmare. David it gets worse and worse. I just flew to europe and honestly, it makes you not want to do it again. Just imagine getting to the airport 15 minutes before your flight, having a latte, reading a newspaper of your choice and being at your destination within 45 minutes. David usually it takes thousands and thousands of dollars to do Something Like that. How much okay. From new york to boston, thats one of your routes, how much . All of our routes, we have this model that we believe is very unique in the marketplace. We got a price point down from a oneway fare at 349 and round trip fare at 599. David 600 bucks round trip from new york and boston. Thats one northeast route. How many others do you have and how will it expand . Today we have east hampton and nantucket and will be expanding to philly and d. C. Very shortly. David philly and d. C. Again, similar costs involved . Similar model. Similar costs. Actually, our goal is to make it the same cost across the board. David okay. If i go by myself, i will undoubtedly be with strangers as well, right . You will be. David if you dont book the full plane, if you only book one passenger, it still flies . Will fly. David its a guaranteed flight. Ashley thats good. Susan there is competition. You have other uber type right. The difference with us is there are no annual fees. You can book an hour in advance or a month in advance. The price stays the same. With our competition, you know, theres got to be a certain number of passengers, youve got to have this membership fee that you pay in advance. We dont have any annual fees. Its a simple, you know, book a minute in advance sorry, an hour in advance, a month in advance and actually, within our app, you can download our app, book a flight within 30 seconds. David safety. The qualifications of the pilots. Qualifications, all of our pilots are commercial grade pilots. David really. They all fly large aircraft. And you know, we take safety is our number one concern. We take that very seriously. Susan you fly from smaller airports like teterboro so i dont have to go to the masses. Thats important. There are over 20,000 airports in the u. S. The government is trying to drive traffic away from the major airports, we can understand why, and they are driving it to the tier two airports. We are operating out of farmingdale, white plains, we are operating out of the small airports so you dont have to have that two hour in advance experience. David again, you are going to expand beyond the northeast. You are going to go to the midwest or west coast or where . Our twoyear plan is we plan on taking this model, replicating it in florida, texas, california, Washington State and chicago. And you know, we will be there the next two years. David the name of the company is flewber, flewber. Best of luck to you. Download the app. Susan sounds like something. David something is going to come of this. Good stuff. President trump says the federal government may step in to address californias homeless problem. The situation is getting worse by the day. We will get reaction to that in our 11 00 a. M. Hour. And andy no is recovering after being attacked by antifa thugs. He joins us the next hour. Dont miss that. So. How are you feeling . On a scale of one to five . One to five . Its more like five million. Theres everything from happy to extremely happy. Theres also angry. Im really angry clive actually, really angry. Thank you. But what if your business could understand what your customers are feeling. And then do something about it. Turn problems into opportunities. Thanks drone. Customers into fanatics change the whole experience. Alright who wants to go again . I do i do i have a really good feeling about this. David good morning, everyone, im david asman in for stuart this week. Good news for nike. It pulled a sneaker featuring early American Flag this coming reportedly after Colin Kaepernick rejected shoe, that some people may find the early flag offensive. I will speak with conservative writer andy gno, he was attacked by thugs from antifa over the weekend. Is miami beach a victim of its own success . Wealthy buyers are reportedly snubbing the area, it is overrun with tourists and a lot of loud partygoers. We have the mayor of miami beach here to refute that charge. Hour two of Varney Company starting right now. David first lets check on the big board. We are down today. Were down about 54 points. The s p down by about the same percentage, and nasdaq down as well. Again, anything can happen on a day when a lot of people are on vacation, and very few amount of traders can make a big move and make a difference for the market but the big corporate story of the day is nike which has pulled a sneaker featuring early American Flag designed by betsy ross. This after Colin Kaepernick said the flag could be perceived as a symbol some would consider offensive. Come in dennis gartman, the gartman letter editor, publisher. Dennis, was this a smart move by nike . I think first of all all news is good news when it comes to making a brand. Ive gotten bad press in the help if you recall that has been bad. All press is good press. This is a bad decision on nikes part to pull the sneakers. I think, lets be blunt and be politically incorrect. Colin kaepernick is a bit of a jerk. I think this is illadvised on his part and ill have advised on nikes park. David i will not defend the move. I think the move was a lame move. On the other hand you look the way they turned that around with kaepernick, when they first hired him on, they did a commercial which accent eighted the positive, sort of ignored any negative, put him in a good light, in inclusive light, not making him one stand against all patriots or anything. Can they do the same this time . I wish them well. The first commercial was demonstrably different than the second commercial. The first one you used term inclusive was indeed that. This was exclusive. I think it is illadvised on their part. All press is good press when it comes to building a brand. There will be people that admire what they have done. God bless them. Time will only tell. David dennis, stay right there. We dont want you to leave. We want to stay on nike, we bring in madison gesiotto, trump 2020 advisory campaign. What do you think about nike, getting very political here, no . This is a terrible move for nike by nike. Look at arizona already the first state to push back against this the governor of arizona tweeted out saying that they will stop financial incentives for nike to move to arizona. We could see similar push back across the country f youre looking online, on twitter, there is hashtag going on boycott nike. People will stop buying nike short period of time as they did in the past. They may never go buy nike again. They feel directly attacked. They are proud of our country and our nations history. We have bad parts of our history. We have things we are not proud of. We are proud to be greatest nation in the world especially during the week of 4th of july. David i remember the calls for the boycotts when kaepernick entered picture. Despite all the calls the stock went up. They did, as dennis was saying earlier, sometimes any news, even if it is perceived as bad news by a majority of people can be good news for nike . Of course but right now what i think were seeing differently from the first time around is the states stopping incentives like knee key of arizona. We could see other states do something the same or similar to this. That i really think will hurt nike. David madison, we have another one for you. More people ended up with a tax bill this tax season that was lowered than a year ago, but many people dont realize less is being deducted throughout the paychecks. Theyre getting a smaller refund check. Theyre not so happy about the tax bill even though they end up paying less. How can the Trump Campaign explain this to put them understand not only tax cut is extraordinarily good for bringing business back into the United States and creating more jobs but individuals paying less . I think somewhat difficult, there is a massive amount of economic misunderstanding across this nation. Which of course this is supported by the Mainstream Media, that continues to put outfalls information. We see even people that are sitting members of Congress Like aoc who have apparently economic degrees but go out there spewing false information. You saw what she didnt understand with amazon in new york and tooks and so it is very difficult to share this with people. We continue to push the positive information and real facts of what is going on. People are paying less taxes now. We see robust, very impressive numbers when it comes to jobs, economy, growth. Record low unemployment for many people across this country. You look back, when obama was president. Many of these jobs will never come back to the United States. Were seeing jobs come back to the United States, Weekly Earnings are up, wages are growing. So people in this country are benefiting when it comes to reaching in their pockets every month and having more money for their family. David i want to get to management and the job you have. It is an exciting job being part of a Reelection Campaign dealing with a guy like donald trump, he is difficult man to keep up with him. I know people work for him, currently working for hill, in the course of a day he will go in 20 different directions. How do you manage a campaign, a Reelection Campaign with a guy who is so far ahead of the campaign, must be tough to manage . You know the energy this president has is truly incredible. Ill tell you as being 27 im lucky to be able to keep up to have that type of energy. I am impressed what he does every single stay. What is so great about President Trump, he goes outside of the box. He really tries strategies have not been tried in the past. He has taken great risks but seen big successes as a result of that. Im excited as an american citizen to see the successes. Not just with the economy but looking at Foreign Policy successes over past week. Things that president s in the past, both republican and democrat have never been able to do before, what weve seen in 2 1 2 years, i cant imagine what well see throughout the remainder of his presidency, likely with his reelection coming in 2020. David i cant imagine keeping up with the man, it is just that simple. You have a tough job. Youre looking forward to it. We appreciate it, madison. Thank you, david. David dennis gartman, opec is extending oil supply cuts. Are they doing this because the u. S. Is producing so much oil or what . Doing it primary because the United States is producing so much. The majority of people in the United States dont know that we are now the largest producer of crude oil in the world, superior to what saudis are producing, superior to what the russians are producing. Demand seems to be declining. If you look at miles driven in the United States, miles driven are turning down, so demand is weakening, not just domestically but globally. You have two things that opec has to deal with. So those two things put pressure upon opec to extend its cuts. Im not surprised they extended them of the problem opec has in the interior, russians, especially rosneft who would like to continue to produce as much as he is able to. He can produce a lot more. The downward pressure on oil prices is extensive and long term. David it is down a buck no matter what opec says. Another big one, dennis, bitcoin has had a volatile week. It is still under 10,000. Just a tick above 10,000. It was below 10,000 earlier but would you ever touch bitcoin, dennis . No, i would not. I wish others who trade bitcoin well. It is penultimate, if not ultimate, certainly the penultimate speck trade. It is is not a currency or commodity. It is something esoteric. Let others trade it. I wont touch it. I do see merit what facebook is coming out with. David the libra idea. The value cryptocurrency but do i see any merit at all in bitcoin . No. It is truly a speck trade. It is soybeans, pork bellies and corn all wrapped into one. God bless you if you trade it. David if Facebooks Libra succeeds, does about it coin go entirely away. Absolutely. I think bitcoin would go away. If i had to bet, other than bitcoin i would bet on libra. Libra puts bitcoin to zero eventually. David when you have a Customer Base of billion people like facebook does it is easier to start a new commodity. Thank you, david. Be well, my friend. Cheers. David thank you. President trump is optimistic about a trade deal with china after meeting with xi xinping last week in japan. But our next guest says america should try to continue a game of chicken. President trump restarting Nuclear Talks between the u. S. And north korea after becoming the first u. S. President to step into north korea. Critics say his dealmaking could have dangerous consequences but maybe dumping the status quo would do us all good. Well ask henry olsen. Jeff and Mckenzie Bezos 38 billiondollar set meant. The biggest transfer of cash ever between two human beings. The amazon founder is currently richest individual in the world. Where will he stand after that settlement . We have details coming up for you. Fact is, every Insurance Company hopes you drive safely. But allstate actually helps you drive safely. With drivewise. It lets you know when you go too fast. And brake too hard. With feedback to help you drive safer. Giving you the power to actually lower your cost. Unfortunately, it cant do anything about that. Now that you know the truth. Are you in good hands . David check the big board. Were kind of stuck in a range between 30 down and 50 down. It bounces back and forth. Remember one of those old video machines, ashley . Ashley god, yes. David little ball pounces between the two. Ashley pong. David pong, thats it. Were ponging our way through the day. Now to trade, President Trump met with chinas xi at the g20 summit. The president said trade talks would continue. Listen what he told Tucker Carlson. Roll tape. If we dont make a fair deal a good deal, it has to be better for us because they had so much advantage on us. You cant make a 50 50 deal, ive been talking about this for years, china made, we had a surplus, meaning they did on us of 507 billion. It has been hundreds of billions of dollars a year for many, many years. Obviously we cant make a 50 50 deal. It has to be a deal somewhat tilted to our advantage. David that was actually the president in washington. Tucker carlson was in korea at the time he made that statement. But he basically told the same thing to Tucker Carlson in an exclusive interview. Joining us, phil yen, former business anchor for cctv america, business advisor for newsroom consulting. Phil, is china ready to make some kind of deal . Good to be with you by the way. One of the issues comes up often what is it in for china to score a deal right now. I kind of look at it this way, america is playing a football game, we want to score touchdowns, we want to score touch counties now. For the chinese they want to win the super bowl. America has won the super bowl every single year. China hasnt won the super bowl yet. From their perspective what is in it for them . America has two key issues you didnt mention there, intellectual Property Rights transfer, and potential opening up more markets to international companies. China said they would do it, but they havent done it yet. David using your terminology what is their view after super bowl win . Would that be becoming the strongest economy in the world . I think it is, i think you nailed it on the head. I think that is it. They want bragging rights to be the strongest, most powerful country in the world. I dont think it is a secret by any means. They have already the largest population in the world. One of the key issues for the United States, those who control technology ultimately will control the world. We see that with artificial intelligence. We see that with social media, for example. Both these issues are much greater than a simple surplus or deficit we see in typical trade. For the chinese, there is a tremendous amount at stake. David but typically they control things by stealing them. I mean at least thats what they have been doing with a lot of technology they have been getting. Yes they have been making advances sort of like the japanese in the 60s, 70s, and 80s they were very good at replicating. They were not so good at inventing new stuff. If you dont have an open society like we do in the United States, you dont have the same inventiveness that the u. S. Does. You will never be able to duplicate that. Theyre going in the opposition direction, they are becoming more totality tearian than they were. There is good news and bad news in the statement. Let me start with the bad news, youre absolutely right over the past several decades the chinese acquired various technologies either through stealing or technology transfers. The good news is this, as the company grows, acquires more and more technology, they too want to protect some of that intellectual Property Rights as well. So naturally as they become stronger and acquire more technology and focus on innovation, theyre going to want the intellectual Property Rights protection because it actually will end up benefiting them as well. David but, phil, i want to switch quickly to hong kong before you go because the people of china, the people certainly of hong kong, theyre not just sitting back allowing it all to happen. We saw what happened in hong kong yesterday. The people are fighting back. Maybe the protesters went too far going into the legislature. They overplayed their hand but at the same time theyre not going to sit back and take it. China has to deal with this issue. If they deal with it in the wrong way, that could really hurt them. Watch the comments out of the Chinese Foreign ministry very carefully. As i have been following that the last few days, the tone is getting more and more frustrated, more and more angry. Theyre angry about the whole situation in hong kong that is out of control right now. And so, there is a great fear in hong kong, i spoke to a senior official in the government in hong kong, earlier. There is real concern that beijing may, i emphasize this, may send Additional Forces to help, be it extra police, possibility of a military stepping in. This, you can start thinking back out to 1989 where you can see how some of those emotions might come out from a lot of people who were in the region who remember 1989 very, very well including myself. David if we see tianamen on the streets of hong kong it would just be awful, awful. It would be a universal spectacle china would take years and years if ever to outlive if they try to do tianamen in hong kong, which is one of the most beautiful cities in the world, i think it is going to be much worse for china than it would be even for the folks of hong kong. But that is my opinion. Phil, great to see you, my friend. Good to see you. The thought of it makes me want to makes me sick. David i literally saw bill mcgurn, whose father who is fbi agent tear up. He lived in hong kong. He cried thinking about it on set. Phil, appreciate it. President trump went after big tech in an exclusive interview with Tucker Carlson, accusing twitter about possible illegal activity against him. Should big tech be worried about getting broken up . The details coming next. The ai i need . Its gotta scale across my business. Starting here, in procurement, helping us find the right suppliers. Then here in logistic, to avoid disruptions here in sales. Even here im talking about ai we can build to work. Here, predicting trends. And here, wherever our data lives and here, working with all our other ai i think were done here. Expect more from ai. Ibm watson. But i can tell you Liberty Mutual customized my Car Insurance so i only pay for what i need. Oh no, no, no, no, no, no, no. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Most of us dont know how much data we use, but we all know were paying too much for it. Enter xfinity mobile. Americas best lte with the most wifi hotspots, combined for the first time. When youre near an xfinity hotspot, youre connected to wifi, saving on data. When youre not, you pay for data by the gig. Use a little, pay a little. Use a lot, just switch to unlimited. Get 400 back when you buy the new lg g8. Call, visit or click today. David another check of the big board. About where it was when we last looked at it. It is down about 34 points right now. The same is true for all the indexes. Theyre down but not by much. The divorce between jeff bezos and Mackenzie Bezos expected to be finalized this week. Ash, am i right this is the biggest transfer of money between two individuals in history . Ashley jeff bezos, probably is worth around 157 billion. Think about that, 157 billion. You know what . Reportedly no prenup. They live in Washington State. That is Community Property state. So you divide equally. However they came to an agreement. Mackenzie bezos, jeffs exwife, says she is granting him all his interests in the Washington Post, blue origin, his space program, 75 of the amazon stock they coowned, and voting control over those shares. But she is retaining. She is basically walked away. Now what she left with . Based on amazons price right now, she will walk away with 38 billion. Susan can i bring in the female perspective . Ashley yes. Susan greatest transfer of wealth, she earned it with jeff bezos together. They built the company. Ashley they did. Susan she is one of the first employees. I dont like greatest transfer well of wealth. It is her money. David she is happy with the deal. President trump lashing out at social media about potential illegal activity. Roll tape. So you just said what the Tech Companies are doing may be illegal. Is there a role for the Justice Department . There could be. I dont want to say whether or not theyre doing something. I will tell you a lot of people want us to. A lot of people, all you have to do pick up a newspaper, read it, see it, watch fox, some other network, there are a lot of people that want us to take action against facebook and against twitter, frankly against amazon. David all you have to do is watch varney, right, susan . Susan great episode last night of Tucker Carlson. David terrific. Susan President Trump said the big Tech Companies might be a little antitrust. As you heard in the interview didnt want to go that far. The President Trump is hosting a seeing media summit on july 11th. Holding leaders from facebook, twitter terrorist material on the sites and liberal bias. David did you see behindthescenes looks on tuckers show of north korea and the walk . Unbelievable pictures that tucker took. Farmers are worried they are left unprotected under President Trumps trade deal. They want help from the white house. Full details on that coming up. Yesterday, love was such an easy game to play susan i actually know this song ashley which is the name of the movie. Susan theyre brilliant. David not my favorite beatles. Its a great song, great melody, everything, doesnt have the rhythm. Susan lyrical songwriting incredible. David President Trump tweeting about the 4th of july. We do that when we do the british invasion in the beatles . Here it is big 4th of july, military salute to the pentagon and our great military leaders are thrilled to be doing this, showing the American People, the strongest, most advanced military anywhere in the world. Incredible flyovers and biggest ever fireworks. The president received a lot of criticism from liberals, were not totalitarian country that features our military. But a lot of people are proud parents of kids in the military are very happy about this july 4th celebration. I certainly am. European union is requiring automakers to add fake engine noises to electric cars. Ash, this is a problem. Ashley it is. David it may sound funny, but you see something, but if youre not looking you dont hear it coming. Under eu rules, as of yesterday any new electric or hybrid vehicles sold have to have sound effects especially when the car is reversing. They need to have a noise that alerts people. Also if they drop below 12 miles an hour. The blind and visually impaired have been calling for this a long time. We were talking about this youve been on an electric david electric motorcycles are really spooky. Not only hear them. But you the electric motorcycle they added sounds to those. Ashley yes. David youre afraid people will not see you coming. Ashley by the way bmw hired or enlisted top film composer hans zimmer to make driving sounds for the electric bmw. Being very snooty to bring in mr. Zimmer to provides sound. David guess what turned around . The overall dow is trading to the plus side for the first time today. It is up about 24 points. A lot of people are on vacation. As we mentioned a few traders getting in there, can really move the market around. Get in while the waters still warm. President trump became the first sitting president to cross into north korea. Nuclear talks between the u. S. And north korea going to resume. Henry olson, Washington Post contributor, author of, working class republican. What trump is doing here, correct me if im wrong, he is changing the status quo. The last president to really change the way that we were used to seeing the world i think was donald was ronald reagan, who said, the soviet union doesnt have to be around forever. We can win the cold war. We dont have to live with it as previous president s for decades and decades did. This is one of the president s who is doing that. He is a disruptor, wants to change the status quo. The Mainstream Media is scared to death he will mix things up that will hurt people. Who do you think voters will believe . The guy that wants to change the status quo or people afraid of that happening . Trumps voters wanted change and he has been delivering change. If you think what was going on with china over the last 20 years status quo under republicans and democrats is good, building up a technocratic, totalitarian state, a military can challenge us, by all means oppose what President Trump is doing. But what President Trump is doing saying were not going to pay for that anymore. Were not going to pay for your military and your surveillance devices with access to our markets and he is confronting north korea in the same way. Which is saying if you want to build up Nuclear Weapons to reach us, there will be consequences. No more wink a blind eye at this. I think americans want that sort of confrontation and change that will make america safer in the long run. David you know what happens, henry, at first there is outcry of outrage, sort of foe outrage because anything trump says will create outrage. They say that impossible. It will create all kinds of problems. And then, something happens after a few month. People begin to see once the curtain is pulled back on china, people begin to agree that in fact it has been stealing everything at that we have for years and decades an decades. This is the first president really confronted it openly the way he has. It becomes sort of the status quo. He first works hard to disrupt the status yo. That becomes the status quo as it has with china. That is exactly right. That is what happened with ronald reagan. Everything reagan did with the soviet union was attack as reckless and warmongering. All that happened was the peaceful demise of a totalitarian state no one had seen combing 10 years before. It had something to do with reagan challenging the status quo. Everyone accepts that. We could see that with trump on north korea and china. David on north korea, another example people harken to. Nix on opening up china. Moo saw tongue was did, mao zedong was a bad dude. Richard nixon dealt with him. Smiled in photoops. That led to decades long economic opening, which i think has been good for the world until china began to become totalitarian again under president xi. As it become as bad player, how do we negotiate wit, to get a food trading deal even though theyre becoming more totalitarian . The good thing, china is actually dependent but growing quickly and dependent on western minds, western markets, western money and if you cut off access to it what will happen they will have to choose between wealth and totalitarianism. That is what the president s confrontation strategy does. It says if you want to be a player that seeks to dominate the free world, then youre not going to do it on our dime. The longer the president sticks to that, the more allies he has behind it, more likely it is, that forces for peace within china will come to the fore. Otherwise you have the same old, same old weve seen for years under president xi. David north korea, this guy is the baddest of the bad dudes, kim jongun. Clearly he killed thousands, millions probably over his lifetime of political prisoners, et cetera. Is it possible that these handshakes and this dramatic move of the president going into north korea, first president ever to do that, is going to lead a person like this to make the kind of changes necessary to revolutionize our, not only our relationship with north korea but south koreas relationship with north korea . I think it is going to be very different cut, but what the president is banking on is that kim is willing to fight back against the regime which he leads. That he is willing to fight back against hardliners to improve the situation that he has. I dont know whether thats true or not but as long as the president is willing to walk away from a bad deal, take no deal over a bad deal, its a gamble worth taking. David very quickly, henry, some farmers are concerned theyre getting left out of the usmca. That is the trade deal between canada, mexico, nafta point 2 as some people say. Jackie deangelis is in georgia talking to farmers. I want henry to stay on after jackie but what is going on there . Reporter good morning to you, david. The problem here for Georgia Farmers theyre worried about the future. They say they have been struggling for years, not only just under nafta, but now under the current usmca negotiations because they cannot compete with mexico. One of the issues is labor. A farmer told me yesterday he may pay between 10 to 15 an hour when mexico is paying a couple of bucks an hour. On top of that mexico is subsidizing its farmers. It has become very, very difficult, especially for produce products these farmers here. Standing with bill. Bill is a farmer here. This is his property. Squash, melons, a number about things are growing here. Bill, tell me what your main concern is now as the new deal is close to being ratified . We were hoping they might reopen the whole nafta, usmca agreement back up again, but doesnt seem to be able to do it. So im afraid, ive been doing this for 33 years. I dont know what else to do. So i have got to come up with some solution or something to make sure that i can stay in business. If they dont come up with some kind of solution, then reporter put it in context for me. We talked about watermelons. What is your cost of pallet of watermelons, what is mexico getting for it . Mexico was sending over here 30 a bin, 700 pounds of watermelons. My material and food safety and not counting packing an picking of watermelons. Reporter over 100 . 110 difference. Reporter what happens long term over the price differential, what happens to your business . My business is going down the drain. I dont know what else to do, bad spring last year pause of mexico, we have the same thing this year. Were hoping that the secretary will take a look at it, try to help us come up with solutions might be good for our industry, especially crop industry. It is kind of a little quirk industry here but it is killing all of us. Reporter thank you so much for your time. David, i want to point out that a recent study indicated here in georgia alone, 900 million in revenue, 3600 jobs at maximum could be potentially lost if some tweaks are not made to usmca. Also what is interesting, the farmers i spoke to including bill, theyre supportive of the president. They want a little more of his help. David . David i can understand, given those numbers. A tragedy. Those people work sew hard. Jackie, thank you very much. Very good story. Conservative writer andy gm o was violently attacked at a rally by antifa in portland. He was severely injured including brain injuries. Well check in with him coming next. President trump may have to fight homelessness in california, one of the states where it is getting out of control. Fox nations tomi lahren knows how bad the situation is in california. Does she need that trump may need to get control to get something done . She is coming up next hour. Later this afternoon, dont forget team usa playing england in the world cup. Ashley may be taking a peek at it. Ashley you think . David thats 3 00 p. M. Eastern. You can find it on fox. I dont know whats going on. Ive done all sorts of research, read earnings reports, looked at chart patterns. Ive even built my own historic trading model. And youre still not sure if you want to make the trade . Exactly. Sounds like a case of analysis paralysis. Is there a cure . Td ameritrades trade desk. They can help gut check your strategies and answer all your toughest questions. Sounds perfect. See, your stress level was here and i got you down to here, ive done my job. Call for a strategy gut check with td ameritrade. And is the Fastest Growing place to buy a car in the nation. Carvana is six years old this year its because we have thousands of people working hard to make our customers experiences the best. Its because we have tens of thousands of cars ready to be delivered to your doorstep. And its why hundreds of thousands of happy customers have ditched the dealership and bought their car online, earning us an average 4. 7 stars in the process. So if you didnt know about us before, you do now. Were carvana, and we want to give you the car buying experience you deserve. David check the big board. Were just barely positive here. Were trading negative all day until ten minutes ago, 15 minutes ago when it turned positive. Up and down, but pretty much flatlining all over the board today. Check general motors. Reports that u. S. Vehicle deliveries in the Second Quarter was 250,000. Sounds like a lot but that is down 1. 5 from the previous quarter. Sprint, reports that tmobile and sprint reached a divestiture deal. During a leftwing demonstration in portland, oregon, conservative writer, andy gno, attacked by antifa thugs, beaten up, had stuff thrown on him, had to go to the hospital. Here is andy, editor at quill let, for those who dont know, just tell us what happened. On saturday i was covering a protest organized by antifa activists in portland. This is one of the beats i cover living in the city that has a lot of far left activists, when they were march ironically around the Justice Center which houses the Central Police, im sorry, Central Police precinct and the Sheriffs Office and courthouses. It was there, they were chanting no fear, no hate. David yeah, right. Suddenly i was bashed in the back of the head. Before i could really figure out what just happened to me, the punches just kept coming, in every direction. And then eventually they escalated it to throwing liquids in my face, that blinded me so i couldnt even see which way to leave. And i could see still see the Justice Center in the background. I kept thinking that the police are going to come to help me at any moment but that never happened. David that is the most, you know, obviously, we are extraordinarily sad for you, for what you had to go through, all that violence against but the police, to me, what is the most outrageous, ive been outraged by antifa for a long time. They are just thugs, nothing more, nothing less than thugs. So, youre a brave man to be in middle of a crowd like that. Why werent the police there to help . Theyre supposed to be against people that are violently opposed to other people . It seemed like if anything, they were actually trying to direct you back into trouble rather than keeping you away from it . In the past the mayor who doubles as Police Commissioner has praised police for their quote, restraint in not engaging with militant protesters. However i wonder how many more people need to be beaten on the streets of this city before something changes . Weve had violent rioting ever since the Election Results were announced in 2016. These bursts of street brawls that get innocent citizens caught up are continuing and nothing has changed. David restraint is one thing but actually directing, just to be specific about it, as i understand it, what happened when you approached police they were suggesting that you go back through the gauntlet where the people who had just beaten you were remaining, correct . Yes. So that was the swat medic team. Apparently the protesters had unlawfully shut down the streets all around that area. So i dont, i think the reason why the ambulance couldnt come to me was because of that. Im not sure. They told me in order to get help i had to walk back to the present, back in the direction where i was just beaten by the mob. David this is an outrage. This should be an investigation. In fact there should be a federal investigation about whats happening with the police force. They should be protecting the innocent, not protecting the guilty. Finally, andy, we have to let you go, but how are you doing . You had to go to the hospital. I understand there was some brain injury, no . Yeah. I was diagnosed with a brain hemorrhage after ct scan. Since ive been discharged i noticing these occasional hiccups and that has been pretty difficult to accept and process. I think it is one thing to just lay in bed in a hospital room but when im trying to resume by regular activities and things are different now. It is making me think im going to have to deal with some longterm consequences of what happened. David andy, i cant say it enough. Our prayers are with you. Brain injuries are very, very difficult things to deal with. I put the responsibility directly at the feet of the mayor and his police force who did not do their duty to protect you and other innocent protesters. Andy, our hearts go out to you. Best of luck to you. Thank you. David thank you very much. Wow. A new report from the journal finding wealthy buyers are saying farewell to miami beach with residents getting fed up with partygoers in the area. Is it a victim of its own success . Well ask the miami beach mayor coming next. All right brad, once again i have revolutionized the songwriting process. Oh, here we go. I know i cant play an instrument, but this. This is my forte. Obviously, for auto insurance, weve got the wheel route. Obviously. Retirement, were going with a longterm play. Makes sense. Pet insurance, wait, let me guess. Flea flicker. Yes howd you know . Studying my playbook . Yeah, actually. David the market inching its way back. Now it is double. We hope for triple digits. Well keep watching. Look at a headline from wall street journal. It reads, wealthy buyers say so long to miami beach. Condo sales have dropped 11 . Condo prices dropped 16 1 2 . Mostly a lot of resident are getting fed up with tourists bringing noise and trash to the the area, so it is claimed. Im sure it will be pushback from our next guest. Mayor of miami beach, dan gelber joining us. Is miami beach a victim of its own success . Mayor, can you hear us . The mayor seems to be having, can you hear me now, mayor . Im listening to coco. David listening to coco. I wonder who that is. Susan coco is tennis player. David he is getting wimbledon in his ear instead of david asman. We have seen these things from miami beach. Where they had ups and downs. I remember going there in the early 80s. Ashley you were a spring breaker. David we have the mayor back with us. Forgive me we have only a minute 1 2, i guess you were listening to wimbledon, miami beach had its ups and downs in the past. Is it going into a downward slide again . Absolutely not. Yesterday the dade county property appraiser just certified our tax roles of 3 increase in Property Values. We pierced 40 billion in Property Value for the first time in our entire citys 100 year history. We have huge amounts of development interest. Crescent heights is building a huge building in a park in middle of that district. Estefans opened a Beautiful Hotel a bunch hotels opened up. Close to a million 1 2 per key. There is lot of interest. David mayor, forgive me, we have so little time, i know you disagree strongly with what the wall street journal is saying about it, have you written them a letter, quickly . No, i havent written them a letter. But one of the fellows in the article was quoted saying he bought his property for a million four last year. Couldnt sell it for 2 million this year. I get he would like to make 32 in six months. We have incredible amount of interest in the city. My residents are not complain about people leaving. Theyre complaining there are too many people coming. That is why we increased our Free Trolley Service to half a Million People a month using it. We have too many people coming to the city because were a great place to live. David trust me. One of the most beautiful cities in america. Wish we had more time. Thank you, mayor gelbert. Go, coco. David more varney after this. Truecar is great for finding new cars. Youre smart, you already knew that. But 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. Now youre even smarter. This is truecar. David 11 00 a. M. In new york city, 8 00 a. M. Out in los angeles. Weve had a little bit of a turnaround, little bit of a turnaround. We were down about 55 points at one point today and now its up 20. The markets are doing well all over the board right now, but not extremely well, as we had triple digit gains yesterday. Did end in triple digits but it came down quite a bit. The pop yesterday came down, it was focused on the trade truce, socalled, between President Trump and president xi. Seems to be real but again, weve heard this kind of language before and i think the markets are getting a little jaded about it all. Lets bring in donald luskin, never one to be jaded about anything. So donald, there is not much action today. I think it is because they have heard similar talk before and been disappointed. Whats going on . Lets give credit where credit is due. We are at alltime highs in the u. S. Stock market, right . So unless we expect the market to jump up and down and spit rubber nickels, we should stop for just a moment of gratitude as the trade talks play out and we get the results that i think we are going to get, which is that china agrees to open up its economy which will usher in a whole new generation of Global Growth, then we might see some rubber nickels getting spit by this market. It will be pretty damn good. David the bottom line is, youre right, were back up to alltime highs but we get to an alltime high, we beat it by a couple of ticks, then we come down, then we beat it. We have been going through this exercise for about a year now. Its that breakout period when we go up to dow 30 were looking for. Will we get that any time soon . I think we are going to get it. Really, so much has gone wrong in the last six months. We had a collapse in oil prices which drove a collapse in inflation expectations. We had a Federal Reserve that basically lost its mind over christmas and required an intervention and is now showing that it has acquired some wisdom for the experience. We had a dramatic walkaway in the trade negotiations, now theyre back hugging and kissing. So you got to give the economy credit for the resiliency that its experienced. There were some shocks. We are coming out. We will keep making new highs. David you know the extraordinary thing is that for all of the talk about the economic success that weve had, we have been talking about it a lot, of course, the Mainstream Media likes to pin it on obama even though he had eight terrible years of recovery, nevertheless, they dont talk about the Foreign Policy issues that we just saw highlighted by the president s trip to north korea a couple of days ago when in fact, he actually walked across the line. Thats got to present some kind of optimism for this market that things do seem to be Getting Better globally. I think so. I think we should give the market a lot of credit. I dont think the market particularly watches or believes the Mainstream Media. I think the market is pretty wise. The market can see the kind of diplomacy that trump is deploying with people like kim. Its a very personal handson diplomacy that makes the world safer, because when two leaders like and trust and can kid around with each other, there are a lot less likely to nuke each other. I dont care what they say on msnbc. The markets know the truth. David i think youre right. Tucker carlson, our own Tucker Carlson, sat down with the president while he was at the g20 summit in japan. Want to get your reaction to something he had to say about big tech and social media. Watch. So you just said that what the Tech Companies are doing may be illegal. There is a role for the Justice Department in finding out . Well, there could be. I dont want to even say whether or not they are doing something but i will tell you, there are a lot of people that want us to and there are a lot of people, all you have to do is pick up a newspaper and read it or see it or watch fox or watch some other network, there are a lot of people that want us to take action against facebook and against twitter and frankly, against amazon. Yep. Amazon also. Lot of people want us to take action. You going to . I cant say that, tucker. David you look at the power of social media, undoubtedly its a very powerful being with billions of followers on facebook and you have google, both of which hate donald trump. I mean, they have made no bones about that fact. Google people were crying like crazy the night it became clear that he was going to be elected president so you have google and facebook to a lesser extent but still to a certain extent attacking trump. Trump is not attacked by anybody without attacking back doubly hard. I can understand why but it worries me when president s take things personally like that, turn a personal vendetta, even if its completely justified, into policy. Does it worry you . No, because the president is a person and all president s are persons and they all take things personally and trump may show that a little bit more, but thats good. They are all taking it personally. I would rather have him show it and be honest. The problem with social media is think about what happened a hundred years ago when the telephone was first introduced in the United States. There was no malign force that was controlling who could get on the telephone and what they could say and couldnt say. If you said something good about President Trump, you didnt get your phone call cut off in the middle by some social Justice Warrior in washington controlling things. So what we really need is its not so much that facebook and google and all these others are monopolies. Its that theyre acting like monopolies. Its okay under u. S. Law to be a monopoly as long as you dont act like one. They have to stop putting their thumbs on the scales to favor one Political Party over another. Thats what trump is reacting personally to and i do as well. David but im not the president of the United States, nor are you, although you would make a great president. As would you. You vote for me and ill vote for you. David there are examples in history when president s take things personally and try to translate that into action. Im thinking of jfk with the steel industry, et cetera. There are many examples of that. Im wondering if there are legitimate questions that you have outlined extremely well about the power of these companies and about how some of it may have to be curtailed, particularly because they have these very obvious biases, but when it gets personal, sometimes it gets a little skewed. No . Well, lets talk about kennedy. What was kennedys most personal moment during his alltoobrief time in the white house . October 1962 during the cuban missile crisis, where he had to figure out a very personal relationship between himself as a person and khrushchev as a person in order to save the world. I just dont have a problem with the president being a human being and showing that to us. David great example. Don luskin, always a pleasure. Take care. Thank you. David thank you. We have an update on that sarin scare at facebooks headquarters in california. Turns out it was just a scare. Deirdre bolton is with us. Deirdre it was not sarin and this is to the great relief because as we know, this was actually developed, you probably know this, late 30s in germany as a pesticide but when it goes into powder or gas form, it kills humans. Facebook like a lot of companies has screening machines that screen all the mail. A package came through and the machine alerted the staff to this possibility of one of the packages being coated with sarin. Now, thank goodness, the people who were in touch with these packages, obviously they were being monitored by doctors. They showed no symptoms and as it turns out, there is no sarin. There was no sarin on the packages. But this was a kind of fire drill, if you like, for facebook and im sure extremely frightening to its employees. Four buildings were evacuated in the bay area. They repopulated three this morning. They were Still Holding out on that last one but it cleared about an hour ago. David it is 29 times more deadly than cyanide. 29 times more deadly than cyanide. Thank god theyre okay. Deirdre, thank you very much. Lets get a check on the price of oil. It is falling precipitously right now. It was down a buck, now its down closer to two bucks. Theres a lot of oil out there and the economy worldwide is slowing a bit even though our economy continues to churn along. But that is keeping oil prices down, although the price of gas is up two cents from yesterday. Dont you hate when that happens . Oils down, gas is up. 2. 73 a gallon is now the national average. We are watching bitcoin. It dropped below 10,000 a little earlier, but its up about 10,463 right now. Check the price of gold, if we can switch over. Gold is up ten bucks. Its just above that 1400 mark which it was comfortably above last week. Came down below that and now its up pretty significantly, up 10. 70. We are on a roll with our sports interviews here on Varney Company. Pete rose, remember that great interview with stuart . Keith hernandez was here. Later this hour, we will be joined by mets legend, ron swoboda. We cant get away from this story. Nike pulling a u. S. Themed sneaker just ahead of the fourth of july after Colin Kaepernick reportedly told the company it should not sell the shoe. He says some people find the American Flag offensive. Even on july 4th week. Coming up next, we talk to tomi lahren. She wasnt a fan of kaepernick during the kneeling controversy. What shes got to say now. Stay tuned. The third hour of varney just getting started. David the summer blockbuster season is turning into the summer blockblunder season. Deirdre so far, First Six Months of the year, down 10 if you are just measuring by revenue. So we are in this sort of bad franchise fatigue as some analysts say. Godzilla, men in black international, secret life of pets part 2, ashley is snoring ashley something original would be nice. David what about patriotic movies on july 4th week . Ashley yeah. Deirdre i dont know, something, anything, because right now, its not looking too impressive. There are a lot of analysts saying the lion king on july 19th which of course is put out by disney is going to be a game changer, and the nod to disney, toy story 4 is probably the only one thats doing well. Avengers did well, captain marvel. Ashley frozen 28. Dont forget frozen 28. Deirdre i was going to say, so far, no good. Yeah, lion king, lot of people looking forward to that. David thank you very much. Story of the day is nike, ladies and gentlemen. Pulling their betsy ross inspired American Flag shoes from the market after Colin Kaepernick gave it his own thumbs down. Tomi lahren is with us, fox n e nation host author of never play dead which comes out today. I think its outrageous. Thats my own personal view. I think eventually, this one unlike the original controversy with Colin Kaepernick when they first hired him, that turned out okay for the company. I dont think this one does. What do you think . Well, unfortunately, we are seeing nike sales doing well so i think that thats a little bit of excitement and then it will go back down. I write about this a lot in my book. Just because someone has the right to do something doesnt make it right. Thats where the delineation comes. Of course, with Colin Kaepernick and his free speech kneeling for the National Anthem but this has taken petty to a whole new level. Hes literally offended by a flag on a shoe. A flag on a shoe made Colin Kaepernick feel oppressed to such an extent they had to pull and nix a whole line of shoes. David coming out on july 4th week. Do you think that may be nike trying to tweak the country the way it sometimes gets success by tweaking the country in the past . They say any publicity is good publicity for nike. Is this one of those examples . I dont know what nikes thinking. I dont know when it became popular to be antiamerican and to throw patriotism in the trash. Patriotism didnt used to be a left versus right thing. It was just an american thing. But the left and Companies Like nike and of course, their spokesbaby Colin Kaepernick has made it a left versus right thing. If you are a trump supporter and conservative, you love the American Flag, and if you dont love donald trump, you are antiamerican and the flag oppresses and offends you. Its outrageous. David speaking of the left, you are from the left coast originally. I am. I live there still to this day. David as you well know, los angeles and San Francisco and a lot of cities out there and its happening over here, are having an extraordinary epidemic homeless problem right now. I think its fair to call it epidemic proportion. Oh, its an epidemic. David President Trump spoke to that point with Tucker Carlson. In fact, he thinks there may be something he can do about it. Let me play the sound bite for you, then get your reaction. Take a look at whats going on with San Francisco. Its terrible. So were looking at it very seriously. We may intercede, we may do something to get that whole thing cleaned up. Its inappropriate. Its not really the kind of work that the government probably should be doing. But if you look at some of these, they are usually sanctuary cities run by very liberal people and the states are run by very liberal people. David is there anything the federal government, this is a city problem, these are terrible mayors in los angeles and new york that are responsible for this, and their City Councils. Is there anything the federal government can do about it . You would hope it doesnt have to go to that extent because im very much a states rights person. Living in california, i see how gavin newsom has destroyed the state, i see the way the 75 Democratic Legislature is destroying the state. Keep in mind not only do we have a homeless epidemic on our streets, needles, feces, trash, tent cities, we also have a Democratic Legislature who will spend 100 million a year to provide health care to illegals. So that is where their priorities lie. We saw it in the democratic debates last week. Its not just in california. This is a platform of the democratic party. Everything is free and we want open borders. How you going to pay for that. David the more money they spend, the worse it becomes. This mayor of new york city, de blasio, hes now running for president , its extraordinary, hes increased the budget more than any mayor percentagewise in the history of new york. 30 just in this past five years. Hes increased the budget and the homeless problem is much worse than it was. Thats making other things worse, including crime, including whats happening in the subways, et cetera. The more money they spend, the worse it gets. When will voters wake up . They cant just throw money at the problem and a lot of times you see a lot of waste and you see a lot of money going to where it shouldnt be going to and you see policies that are failing. I mean, in california, i can speak to it specifically, we had a lot of felonfriendly policies that have realigned what used to be felonies into misdemeanors. You are seeing a lot of these people on the streets. They arent just down on their luck homeless people. These are excons, felons and drug addicts who are filling our streets, making it unsafe for just average people to walk around and enjoy california. David the police, police are protected individuals. Theyve got uniforms on. Theyve got ways to protect themselves. They are now getting typhoid fever as a result of just walking through these areas. I feel so badly for Law Enforcement because i see the problem, they want to address the problem but our state in particular in california doesnt allow them to do that. In fact, we have gone to extraordinary lengths to handcuff the police so they cant do their jobs. You have got repeat drug offenders and repeat not only possession but sales on the streets and if you talk to a cop, i talk to many of them, they tell me heres a huge problem and they say its catch and release. We can bring them in and book them but they will be out in a few hours so the police are really the ones who are taking the brunt of this and they want to help but they cant. David its not just the mayors of these cities. It is the City Councils that are grossly negligent and their gross negligence leads to problems we all have to suffer from. And businesses. Businesses cant get the clients because people are afraid to walk through these Homeless Centers right here in Columbus Circle, we have one of them and the time warner building is there and you cant get through Columbus Circle sometimes in order to shop and its cutting down their revenue. Absolutely. Its hurting small business. Im glad President Trump is addressing it. I hope it can happen at the state and local level where it should. Thank goodness President Trump puts americans above illegals, right . David great to see you. Thank you very much. Appreciate it. All right. Now this. If you ever wanted to work in elon musks Boring Company, called the Boring Company, listen up. The company is ramping up its job posting after scoring a Major Contract in las vegas. Deirdres got the details in just a moment. First, check this out. Nasa has successfully tested a new launch abort system in florida, part of their capsule designed to carry humans to the moon and bring them back safely. David fans of netflix Stranger Things, this is your week to celebrate the release of the shows third season. They rolled out an 80s themed carnival on the santa monica pier, doubling down on the shows nostalgic feel, complete with 80s cover bands and exhibits and disco balls galore, obviously. The third season of Stranger Things premieres this thursday, the 4th of july. You can watch every episode from day one. Did you ever want to work for elon musk himself personally . Nows your chance. Hes going on a hiring spree. Deirdre, not sure i want to work for him personally, but which of his companies . Deirdre come work with us in las vegas, lots of boring jobs available. Thats what came out. Six weeks ago, the company got close to 49 million in a contract to build and operate an underground people mover in las vegas. They have a dozen new job openings in las vegas, another 15 in hawthorne, california, its headquarters. No official word, by the way, on just how many employees the Boring Company has. Some say there is some overlap with tesla and some of elon musks other companies. Some estimate maybe Boring Company has 80 people total. If thats true, then hes pretty much hiring double. Ashley what kind of jobs . Take a shovel and start digging . Deirdre Civil Engineer for the most part. Twin tunnels, one for vehicles, one for pedestrians. David he thinks big. You have to hand it to him. Apples tim cook is pushing back against reports that design chief jony ive was unhappy with the companys leadership and thats why he decided to leave. We will tell you what cook is saying right now. Meanwhile, markets are pretty much flat. They are down a little bit. They were just up moments ago so they may be up again. Coming up next, we are joined by market watcher ryan payne. He has a few reasons investors might be anxious. Thats next. David check out the big board. Even though theres more green on the screen than red among the dow, the overall is still down, but just a little bit, and that may change. Lets stay on the markets and bring in ryan payne, president of Payne Capital management. Ryan, you always bring us good stuff to go at and we want to ask you about the anxiety. There is anxiety out there. Theres some obvious issues with china, et cetera, but what are people anxious, what are investors anxious about now . Its amazing. We were at all time high on the s p, we have economic expansion thats the longest in history, yet if you look at sentiment its very negative. The first you hear about a lot is just like global, you know, Global Growth right now is slowing and thats a big concern, right . David that is a problem. But the problem is not necessarily the u. S. Trade issues as much as it is them just doing the wrong policies. Europeans are still stuck on negative Interest Rates, on high tax rates, on huge regulatory costs with these regulatory chieftains they have imposing billions of dollars in costs. Its more what they are doing rather than what we could do to solve it. Thats exactly right. Europe is suffering, its not really china or not really the u. S. You have to remember, every central bank around the world is looking to stimulate. Thats a huge plus for even europe. When david its not the job of Central Banks to stimulate the economy. When they try to do it, they always get in trouble. Its the job of the government to step back and allow the markets markets know how to get stimulated themselves. I agree with you but good luck with that. At this point it looks like they are going to stimulate. I dont think they are going to have to because i think the supply chain will figure it out. David how can you stimulate more than a negative Interest Rate . You cant. Theres not much more you can do right there. There will be more bond buying, and thats why rates are so low over there. What i think will happen is supply chains will get worked out. A lot of its going to southeast asia. Once that gets moving, thats going to stop a lot of the friction you are seeing right now. Also, china is moving a lot of goods to vietnam. Slapping that vietnam sticker on it, then coming to the u. S. Lets be real, a lot of those things already come into the country without the tariffs. I think that will work itself out which is good for europe and the rest of the world. David youre saying even if you are anxious about these things, you shouldnt be. Exactly right. The other big thing is whats going to happen with Interest Rates. We know the fed, we got the fed put right now. The feds got your back. If we think the economy is going to slow down which i dont think it is, i dont think the fed will lower Interest Rates but if it happens, the fed already said they will do what it takes to sustain the expansion, very vague language, but i think they will do it if they have to. Apparently with the trade war going on, i dont know if you heard about it david little bit. Little bit. Rumor has it. Whats happening there is even with that going on, whatever friction has happened with the trade war, Interest Rates have come down so much, its actually counteracting that as a stimulus for the economy. Corporations can borrow cheaper right now. They are giving back a ton of money in dividends, stock buybacks, u. S. Consumers can now borrow at lower rates. If you look at that, thats going to have a Huge Positive impact on the economy. David so climb the wall of worry. Climb the wall of worry. Always. David stay with us. We want to keep you here. I want to go to deirdre bolton. Shes got apple ceo tim cooks response to a story from the journal saying that apples design chief quit over cooks alleged lack of interest in aesthetics. Deirdre interestingly enough, tim cook is usually pretty quiet, usually doesnt respond to any speculation in the press. However, he sent a scathing note to nbc and the journal as well saying ive is not leaving because he grew frustrated with tim cooks leadership or anything that was negative at all. Hes 52 years old, hes had an amazing run at apple. Even steve jobs said this is the one person outside of me who has more operating power at this company. Any single product you touch, he has had a hand in, especially even the latest headquarters in california. Hes leaving for his own reasons. David he has had a hand in all these products but hes not the chief oversight, the ideas didnt come from his head the way they did from steve jobs head. What do you think . Exactly right. Hes not steve jobs. He kind of looks like your High School Math teacher. They are not really an Innovation Company anymore, but a value company. Warren buffett has bought the stock. Now they have 1. 8 billion users on smartphones and its really about subscriptions and really a more boring, more stable type model. I think its kind of a sign of the times. David on the other hand, we had Keith Fitzgerald on yesterday who said within 24 months this stock will double in price. What do you think of that . Thats a bold statement. It does trade to a discount to the market which probably is good value here, but again, its not a growth stock anymore. Its a value stock. David the story of the day is nike. Pulling this betsy ross shoe that they had with the American Flag on the back with the 13 stars, saying that it speaks badly in the eyes of many people, to the slavery days. What do you think . Will it affect the stock at all . No, i think nike is probably one of the best marketers in the world. So if nike is going to pull that from their shelves, they know who their audience is and they know what resonates. Nike will always make the right move when it comes to marketing. David their audience is more and more overseas, is it not . They sell a lot of shoes to china, they sell a lot of shoes to places where as long as they are in the news, its good for nike. As much as we are disgusted by whatever move they make, it might not necessarily affect their worldwide sales at all. I dont think so at all. Look at a company thats able to rebrand itself over and over since the 80s and do it well. Nike to me is the playbook for great marketing. David im not going to buy it but a lot of people will. You would look great in a pair of nike airs. David i like adidas. Great to see you. Thank you very much. Appreciate it. Next case, the wall street journal reporting that facebook and youtube have been flooded with misinformation about bogus cancer treatments. Deirdre yeah, these are so sad for anybody really struggling with this disease. There are some sort of snake oil suggestions, injections with baking soda or juicing to cure cancer which any doctor will tell you is not going to work. However, because these videos are so widely shared, sometimes seen by millions, facebook and youtube are now beginning to crack down on this. They are putting more engineers on it, trying to improve the algorithms. Snake oil sales has always been a problem but now with technology, it helps information and misinformation spread faster. Facebook and david taking advantage of the vulnerable is awful. Deirdre it is awful. David meanwhile, Southwest Airlines says its expected to remove the grounded boeing 737 max jets from its flying schedule beyond october 1. Ashley yeah. This was after boeing said during simulator sessions, regulators found another glitch with the software on the 737 which means further delay. Now, southwest has been trying to, it has the largest fleet of 737 maxes, trying to use spare aircraft to make up some of these routes. Hasnt worked. They are averaging about 115 daily flights are being canceled because of the impact of this grounding of the plane. American and united also have been in the same boat. How this is impacting the airlines, i want to be really clear once we get into the Second Quarter earnings season which is just around the corner, by the way, but this is a plane that seems to be just nagged with problems from day one. David its going to be tough. Tough to turn it around. Big Campaign Money is flowing around. We told you yesterday that Pete Buttigieg raised almost 25 million in the Second Quarter but how much did the president raise . Deirdre the president is raking it in, then bernie sanders, because we are talking about buttigieg, i should get this in, too, 24 million for sanders, 18 million grassroots, 6 million prior amounts, 99. 3 of donations 100 or less which as a sort of shot across the bow to the president is important because that we know from obama was relatively successful for him. David lot of money. Everybody wants a piece of the action. Nothing intrigues investors more than power. We showed this to you yesterday. A freak hailstorm tore through the mexican city of guadalajara yesterday morning. The storm, ashley loves this story, dumped close to five feet of ice in some areas. Now the governor says its all Climate Change. Details on that for you in just a moment. And beto orourke also jumping on the band wagon, now linking the migrant crisis to Climate Change and our role specifically in Climate Change. Not talking about india or china. Talking about the u. S. As responsible for the border crisis because of Climate Change. We are talking to our own rational environmentalist about this coming next. All right brad, once again i have revolutionized the songwriting process. Oh, here we go. I know i cant play an instrument, but this. This is my forte. Obviously, for auto insurance, weve got the wheel route. Obviously. Retirement, were going with a longterm play. Makes sense. Pet insurance, wait, let me guess. Flea flicker. Yes howd you know . Studying my playbook . Yeah, actually. David more news coming out of that freak hailstorm in guadalajara, mexico over the weekend. Their governor is now playing the Climate Change card. Ashley five feet of hail in a place where the average temperature this time of year is about 85 to 90. It was a freak storm, i get that. The governor is saying hm, maybe this Climate Change thing is real. Thats all hes saying. But look at this. But the experts are saying this can happen, it happened in 2012 where one storm, a very warm air above, holds a lot of moisture and it comes down in the form of hail, it can happen. Look at this video. Two people were treated for hypothermia in guadalajara. Deirdre im surprised they have doctors who know how to treat that. David thanks, ash. Listen to beto orourke who is linking the migrant crisis to Climate Change. Roll tape. Weve got to remember that they are fleeing the deadliest countries on the face of the planet today, compounded by drought that was caused not by god, not by mother nature, but by us. Manmade Climate Change, our missions, our excesses, our omissions in the face of the facts and the science. When its that deadly and you are unable to grow your own food to feed yourself, you have no choice but to come here. David former epa official under the Trump Administration is with us. What do you make of beto orourkes claims that the whole problem at the border is Climate Change and we, the United States, is responsible . I have two things to say to that. One that beto is trying to remain relevant when hes dealing with an enthusiasm issue after his lackluster and laughable performance at the first night of the debate, and two, Democrats Use Climate Change as an excuse for inaction. You can talk about Climate Change as everything and nothing at the same time while doing nothing to address the growing crisis at the border today. Theres an easy solution. Its working with President Trump. Hes been trying to fix this and the democrats keep coming up with excuse after excuse and beto out there touting this is a Climate Change issue is another example of it. David lets get real for a moment. Hes putting the blame on the United States. If the United States was to reduce carbon gases to zero, we would still have china and india putting out all of the Greenhouse Gases that for those people who believe that they are responsible for Climate Change, wouldnt matter what we did. So just putting the blame on the United States itself is ridiculous, is it not . Its absolutely ridiculous. Greenhouse gases are expected to grow exponentially in china and india while the truth of the matter is the United States leads the world in Greenhouse Gas emission reductions. Those trends will continue under this president. In setting aside Greenhouse Gases, lets talk about air quality and other pollution issues. Chinas inability to use basic pollution control technologies for the massive number of coal plants they are building is lending itself to pollution coming over into the United States. So thats where the problem is. We can help them by sharing the technologies and expertise we have developed in this country to reduce pollution, which is why we lead the world in terms of environmental progress. David yet we had a number of those candidates up on the stage last week still for a Green New Deal that will cost upwards of 80 million to 90 trillion over ten years of time. Virtually triple the amount of money we are now spending on our bloated budget. We have a terribly bloated budget as it is but it would triple that amount. This is ridiculous. Again, if we were to do Everything Possible to stop all Carbon Energy production now, it still wouldnt affect the amount of Greenhouse Gases in the world much, would it . No, not at all. I was looking at some studies the other day because i do that in my spare time, and david you are a real geek. I am. I am. You know, the United States reduced its co2 emissions to zero, that would have a negligible impact on things like temperature, it would produce Sea Level Rise, reduce Sea Level Rise by sheets of paper which is no real impact. Are you exact you are exactly right to point out the United States is not the problem and the democrats up there trying to say the United States is the problem, they are just doing it to try and win cheap political points. David the epa is not a dead administration. The epa still, is it not, is doing a lot to try to lower air pollution and keep our waters clean. Yes. We have been alive and well and thriving under the Trump Administration. We have actually refocused the agency from the last administration where they were trying to make it the agency of Climate Change and ignoring things like air and water, thats why you had the flint, michigan crisis and in this administration, we are putting in place real regulations that are balanced and they balance cost with ensuring we have the outcome we want. We will continue to reduce our clean air emissions which is why we have the cleanest air on record today and invest billions of dollars to ensure that everyone has access to clean water across the entire country. David mandy, great to see you. Thank you for coming in. Appreciate it. We will check beyond meat, by the way. They are the fake burger guys. We are pulling back from the highs it hit after it went public but still way above its ipo price. Walmart, meanwhile, is investing 1. 2 billion in china at least for today, the market sees that as a positive. We are on a roll with our sports interviews here on Varney Company. We had pete rose, keith hernandez. Coming up next, mets legend ron swoboda. More varney after this. Play it cool and escape heartburn fast with new tums chewy bites cooling sensation. Tum tum tum tums david looks like we are turning the third hour of Varney Company in a sports show. Baseball legend after baseball legend. Today, weve got another big one from the 1969 miracle mets, ron swoboda is with us. Hes author of the brand new memoir which i am going to read, i promise the world im going to read this book because i love this story. Heres the catch. So you bill yourself as baseballs everyman. You are relatable. We were looking, we have these meetings before the show and we were talking about what makes the mets 69 or the mets 86, the mets are the most relatable team, whether youre talking baseball, football, anything, because they make a lot of mistakes and they are open about it, but sometimes they succeed. So we can identify with them in a positive way. Yeah. We were a bunch of guys without any superstars and no expectations, no weight of what you could do. We didnt know what we couldnt do. That was maybe even more important when we got on the journey in 1969 that ends up in a world series. David in fact, when you were brought into the mets with the legendary casey stengel, had been very successful with the yankees but not very successful with the mets, but you joined them anyway. Why . That was a good sell to a young player, amateur, back before the draft. They said sign this piece of paper, well give you 35,000, thats about three times as much as my parents were making together, and we dont have any players. We need talent. And you may get to the big leagues sooner. That was a good sell. David how do you turn a losing team into one that wins the world series just a couple years later . Well, i think you start with a manager, gil hodges, who had one of the most adroit Major League Baseball minds i was ever around. David even though you didnt necessarily get along with him emotionally, right . We had a fractious relationship. David tough dude. It was his way or the highway. He wanted you to be a grownup, make yourself as good a player as you can and help him win games. I could do some of it some of the time but not all of it all of the time. I annoyed him and it was on me, because he was a great manager, understood the game, and you look at the moves he made in 1969, you can put tom seaver out there, gentry, those were quality young arms. David you got to hire exactly the right people. The second step must be how you get them all to work together, no . Yeah. Baseballs an everyday game. You sort of show yourself what kind of team youre going to be. Hodges sets the tone and this is how were going to play, and he was always ahead of the game, and you start learning once you beat everybody, once you get on enough of a roll, you start showing yourselves hey, we can play with all these other guys. And the worst fear i had in 69 was end of august, were ten games behind the cubs, the team we had to beat in chicago, and im thinking wow, weve arrived, were playing good and were going to end up as the pumpkin in somebody elses cinderella story, you know . It didnt happen that way, because the cubs started skidding at the end of august into september, we blew by them and it was like oh, there they are. David now, you made was it the fourth game of the world series when you made that amazing catch . Just an extraordinary we dont have that cued up. Describe it for us, how it felt. I cant do it anymore, you know. Were up two games to one on the orioles, a great team in the world series. Were nursing a 10 lead. Tom seavers on the mound. Theyve got runners at first and third and brooks robinson, the hall of fame third baseman for them, one of the great guys, he hits me a line drive to my right and i had worked so hard taking line drives and ground balls, trying to make myself less embarrassing as a right fielder, and i get a great jump on the ball, and i am off. Im about three, four running strides and im laying out on my backhand because that looks like what i have to do. David that may be the shot right there. I dont know. That is the shot . Thats right after. David you were absolutely level with the ground. That was one of those flying catches. Graceful and my name didnt appear in many sentences together. But thats my graceful moment. An average ball player can have a great moment. And if you have enough of those david hey, another guy who did what you did, going all out, was pete rose. Should he be in the hall of fame . I think pete rose probably has done, you know, heres a guy with, you know, if you get 200 hits a year for 20 years, youre getting close to pete roses total. Hes got the most and always will. But he did so many things to hurt his case, his own case, and he was betting baseball while he was managing, and thats tragic. David sounds like youre saying no. Hes not going to be in there. David great stuff. Really great stuff. Thank you. David an honor to meet you. My pleasure. David thank you very much for being here. More after this. David i stick around long enough you see about anything in this market. We dont have a lot of traders here. One reason why the markets cant decide where they are. They were in rally mode with the u. S. China talk on trade. Typical thin volume up and down, were in idle right now. They did not impose more tariffs on each other at g20. Today, potentially david wasnt ron swaboda, wasnt he great . These Baseball Players are terrific people. Neil cavuto. Thanks, david. President is threatening knew tariffs. Nike caving to Colin Kaepernick of all people. Struggle to keep iran in check. When will other nations step up and help . First,. There is abuse at facilities. This is their best behavior. They put them in rooms with no Running Water. And these women were being told, by cpb officers to drink out of the toilet. They were Drinking Water out of the toilet. And that was with them knowing