Transcripts For FBC Varney Company 20240714

The pundits are questioning whether he has the stamina and the focus to go the distance. If he doesnt, the democrats are left with two way out there, far left frontrunners. Just wait until you hear the details on Bernie Sanders 16 trillion climate plan. Stocks, they are going up again this morning. The Chinese Foreign ministry, cool to the president s statements on china trade, and we have been in and out of that inversion of the yield curve all morning. It doesnt seem to have been a big negative. The dows going to be up about 80 odd points, 10 for s p, 43, 40 odd points for the nasdaq. Thats about a half percentage point. All right, everyone. Stay there, please. We are going to show you the latest biden gaffe and a closer look at the poll thats really set him back. Varney company is about to begin. I just spoke at dartmouth on health care at the medical school or i guess it wasnt actually on the campus but the people from the medical school were i want to be clear, im not going nuts. Im not sure whether its the medical school or where the hell i spoke but it was on the campus. Stuart okay. That was mr. Biden on the campaign trail. Now look, the latest Monmouth University poll, that has sanders and warren even and biden is now trailing. Okay, by just a point, but he is trailing. His lead is gone. Kevin sheridan is with us, a political watcher. How do you think President Trump you are associated with President Trump how do you think he feels about going up against two socialists because if we discount joe biden, you got two socialists to run against. What do you say . Well, if you look at the monmouth poll and they are pretty good outfit, this is one poll only, but i do think that the structure of the race in the democratic primary remains that a huge chunk, 40 to 50 of the Democratic Party electorate, is in the socialist wing of the party right now, and thats where all the energy is. Stuart hold on. Hold on, kevin. If you go up against warren or Bernie Sanders, im losing my mind here, losing my memory, if you go up against those two, they are going to be offering free stuff, free this, free that, whether its medical care, whether its college or even just money. Free stuff. How do you fight that . Well, i think the Trump Campaign is pretty well set up to do that. Look, 35 trillion is a baseline for the Democratic Party right now in the free stuff that they are promising. Look, the numbers on socialism have changed a bit among the millenial generation. They view it a little bit more, you know, positively than i would have ever thought was possible but this is one of those things each generation has to kind of stuart what do you say . What do you say . Suppose im a young voter. Im an old voter. Supposing i was a young guy. Here they are offering we will get rid of your college debt, we will let your kids go to college for free, free health care, you got it, son, here it comes, how about a house . You can have that, too. Specifically how do you fight that . Well, you dont get to 3 unemployment and you dont get a booming economy with those policies. We can just rewind the tape to the obama years when that was not happening, when, you know, unemployment was double what it is now, when, you know, we did not have a booming economy whatsoever. Gdp was way down from where it is now. I think you can say look, all that was done just by taking off regulations, lowering taxes for the Corporate Tax rate and making some simple economic fixes. Thats the way you always get a booming economy. And you know, its not easy to go against free stuff. Youre right. People see that they are going to get Free College Tuition or free house or free car, whatever it is, i stuart ill vote for you. I think youre going to take a more direct approach. Socialism is evil and it is a fraud, because youre not getting anything for free at all. I think you should just go confront it. We have real world examples in venezuela right now. Stuart thats an extreme. I think you should go to europe and look whats happening in europe. Its a museum. Thats what happens with socialism. Kevin, im sorry, im out of time. Im getting all fired up here. Kevin, thanks for joining us. See you later. Lets get to the j j, the Johnson Johnson story, because this is important. The stock is up despite the fact that j j has been ordered to pay 572 million in a landmark opioid case. Dr. Marc siegel is with us this morning. Not for the legal side of things, for the medical side of things. Why is prescribing painkillers now regarded as a Public Health hazard or public nuisance . Whats going on . Because of the enormous harm thats done. Even i am going outside the box of what i usually say here. I usually only blame physicians because they have the pen, because they, we, are the ones who decide what we prescribe. In this situation, there was a culture of misinformation that was spread everywhere, to the doctor, to the patient, and it involved pharmacies, it involved physicians for sure, and it involved drug manufacturers who deliberately, deliberately, and theres a lot of records of this, had attempts to sway doctors to prescribe things that ultimately led to harm. Thats the public nuisance part. What harm . People that were addicts, 72,000 Overdose Deaths this year from prescription drugs. People in the hospital, people with untoward medical complications. What is pain . Pain is not necessarily something you throw an opioid at. Pain is something you figure out whats the cause of this pain. Is it a muscular problem, is it a bone problem. Give the proper specialist to figure out what the cause is and you might not need the opioid. Stuart there are thousands of people in this country who have had their pain relieved by opioids and who are not now addicts. What do they do . Are they no longer going to have access to opioids . No, because opioids are still in the market. You made a huge point here. Were not saying theres no use for them whatsoever. Were saying how long are you prescribing this for. If its for a fracture, is it for a day or a year . How many pills you giving that patient after a wisdom tooth is removed . Thats got to be looked at. So doctors have down on too here, not just j j. Doctors are being sent to prison for prescribing 60,000 pills in a year. Thats where they belong. I mean, j j is being held accountable and whats really precedentsetting here is that a verdict was delivered. Now, they will go and appeal and play games and they will get their lawyers involved but a verdict was delivered here and thats very very important. The reason their stock is up, by the way, is because investors thought it was going to be 17 billion and it ended up being much less than that. But the state had a pretty strong case. The Mental Health commissioner was crying on the stand about how much damage has been done to the public. Stuart that makes a very good witness in favor of the prosecution, now, doesnt it. Where the medical guy cries on the stand, you have yourself a jury thats going to go that way. But she meant it. Because a lot of harm has been done. Now, the other point i want to make, the money here is supposed to go to programs, you know states always play around. I dont want to see this money going to some bridge or to someones pocket. I want it to go to programs to prevent opioid addiction and treat addicts. Stuart the wall street journal reports this morning that some of the money, a large chunk of the money, goes to the prosecutors school where they will set up a center for addiction. I think its great. Stuart university of oklahoma. Great. Stuart really . Yes. Stuart doesnt go to the addicts who have been affected. It goes to a university to study addiction. Ut okay, i would rather it go directly to the addicts. Fair point. But at least studying addiction may lead to some alternative treatments. It may lead to methods including medically assisted therapy to get people off of these opioids. Im not against it. Much better that it goes there than it goes to some place that has nothing to do with the problem. But we need the money to go to addicts. You are absolutely right about that. It should go to addicts, should go to Rehab Centers and to prevention. Stuart doc siegel, thank you for joining us. Unusual for you getting the a block of the 9 00 hour but it was worth it today. Really great to see you charged up. This is a very very very important verdict. Stuart yes, it is. It is indeed. Thank you very much, sir. Lets get back to your money. We have a look at Interest Rates. The yield on the tenyear treasury is 1. 51 . I hereby predict that 30year mortgages are going to drop like a stone. I think they will come way down below 3. 5 . If you are thinking of refinancing, maybe you should wait awhile because you are going to get a much better rate in a couple of weeks. Thats just the way i think about it. What are you laughing at . Ashley nothing. Nothing. Stuart dont believe you. The price of gold this morning, where is it . Its been doing reasonably well recently. Had a nice run. Up again today, 1,539 per ounce. Price of oil, 54 per barrel. Not much movement. But look at gas. We are down again. The average for nationwide for regular, 2. 58. I think that thing is going down some more as well. Next, new numbers on home prices. Just breaking, up or down . Ashley well, theyre up 3. 1 year over year but the house price gain is slowing down, if that makes sense. The home prices are not going up as fast as they were. They were up 3. 3 last month, i should say in may, this is for june, by the way, so things are slowing down. However, those low Mortgage Rates will, by all accounts, push those prices back up. 30year mortgage now is 1 less than it was a year ago. That will help push home prices back up. The three cities making the biggest gains, phoenix, up 5. 8 , las vegas up 5 , tampa almost up 5 . Stuart tampa. Who would have thought tampa. Ashley no taxesme. And beautiful oceans. Stuart still on your money, how do we open this market this morning . It is tuesday all day. We are up about 100 points at the opening bell. Up 50 on the nasdaq. Now take a look at uber and lyft ride sharing services. Theres a new report that says these companies are taking more money from their drivers than they say they are. Thats good for the stock for some reason. Uber is up, lyfts up. Now this. A 26yearold woman from illinois trying to become the youngest member of congress. Shes a republican. She bills herself as the antiaoc. Shes on the show. And the Mainstream Media going after President Trumps performance at the g7. The Washington Post says he put on quote, a stunning display of incoherance. This is varney. About my pare. Dont worry. Voya helps them to and through retirement. Dealing with todays expenses. While helping plan, invest and protect for the future. So theyll be okay . I think theyll be fine. Voya. Helping you to and through retirement. You wouldnt accept from any one else. Why accept it from your allergy pills . Flonase relieves your worst symptoms including nasal congestion, which most pills dont. Flonase helps block 6 key inflammatory substances. Most pills only block one. Flonase. Stuart the media had a field day. It was a very negative field day with President Trump at the g7. First the headline in the Washington Post, here it is, trump gives a stunning display of incoherance at the g7. Then weve got the New York Times. Its a very long sentence. I will try to read it. The pity of the entire group of 7 show was that it was part of a new normal in which the worlds major liberal democracies basically accept that they are out of sync with the president of the nation that should be leading their efforts to manage the world and its resources widely and responsibly but isnt. I got it all out. Joining us, walid phares, Fox News National security analyst. I see it completely differently. I think the president did okay. I think he led. What say you . Look, the Washington Post and New York Times represent the point of view of the opposition. They criticize the president whatever he does and they are going to describe the g7 as a very integrated, unified group that represents the world and President Trump is in the other valley. That is not reality. What has happened is the g7 now is basically addressing multiple issues, on multiple tracks. We have seen our president dealing with the Prime Minister of japan, with other leaders, in coordination with the uk. Of course, there were other countries present such as egypt, african leaders, so its not that the whole world is unifyie. Its basically a different cobweb of interests that was at play. Stuart there seemed to be a particular difference on the issue of climate. I do think that most g7 the g7 are united in their desire to do something about climate but our president didnt even attend a climate meeting. He sent his aides instead. I think they are ignoring what i think is the clear success with trade. We got a trade deal with japan. We are talking about a trade deal with the brits. We are probably going to talk lessening the trade tariffs on cars with the germans. I see progress there. I see American Leadership there. Look, the essence of trade negotiations is trading, is negotiating. Thats how you build it. So our president was dealing with multiple issues and you just mentioned japan, great britain, other countries. There is also another aspect, counterterrorism. All of them, the seven were completely unified on that position. I would say even on environment crisis, there was a sort of urgency that we need to do something, but we need to discuss whats the authority of national governments. We are talking about the amazon, brazil, so on and so forth. Thats the reality of it. It was a forum of negotiations. Thats the design. You dont ask bureaucrats to tell you what to say, what to do and prepare it and then the leaders have nothing to say. Stuart precisely. Walid, welcome to the show. Great to have you with us. See you again real soon. Thank you very much, sir. This is a related subject here, related news story. Brazil has rejected that 20 million donation from g7 to fight the fires in the amazon. All right, ash, why did they turn it down . Ashley because they dont like the sentiment behind it. They say brazil is a Democratic Free nation that has never had colonial ichliist or imperialis practices which is the objective of the frenchman macron. The war of words between macron and balsonaro has been getting uglier. The brazilians making fun of macrons wife. Now they say they wont accept any money or consider it until mr. Macron apologizes to brazil for treating brazil like a colony. Stuart meanwhile, balsonaro is privatizing everything. There was so much corruption in enterprises, he sees it, cant have it, hes privatizing. Totally different from most europeans. Take a look at futures. We have gained a little ground in the last few minutes. Now we are going to be up about 110, 111 points for the dow. Big gain yesterday. We were up 269. Got that. Then theres taylor swift. She took a shot at the white house during the video music awards, otherwise known as the vmas. She wasnt the only artist who got political. You will hear it all after this. When i lost my sight, my biggest fear was losing my independence. Mmm. Good. So ive spent my life developing technology to help the visually impaired. We are so good. We built a guide that uses ibm watson. To help the blind. It is already working in cities like tokyo. My dream is to help millions more people like me. Theres a company thats talked than me jd power. People 448,134 to be exact. They answered 410 questions in 8 categories about vehicle quality. And when they were done, chevy earned more j. D. Power quality awards across cars, trucks and suvs than any other brand over the last four years. So on behalf of chevrolet, i want to say thank you, real people. Youre welcome. Were gonna need a bigger room. 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. To the wait did frowe just winners. Prouders everyone uses their phone differently. Thats why Xfinity Mobile lets you design your own data. Now you can share it between lines. Mix with unlimited, and switch it up at anytime so you only pay for what you need. Its a different kind of Wireless Network designed to save you money. Save up to 400 a year on your wireless bill. Plus get 250 back when you buy a new samsung note. Click, call or visit a store today. Stuart we showed you whats happening on the market again because its going up even though the yield curve is sharply inverted. Okay, the yield on the tenyear, 1. 51 . Yield on the twoyear, 1. 55 . Yet with the yield curve inversion like that, the market continues to go up. Go figure, please. Let me move on. Because i cant figure it out. Mtvs the video music awards, not just about music, of course they werent. Politics intruded. Lauren simonetti is here to tell us what happened. Lauren well, it was all about equal rights last night. Heres taylor swift. Voting for the video means that you want a world where were all treated equally under the law. Regardless of who we love, regardless of how we identify. Everyone who signed that petition, it now has half a million signatures which is five times the amount that it would need to warrant a response from the white house. Lauren that was in her im sorry, it stuart we are all treated equally under the law. Lauren it was her acceptance speech for her video that won video of the year, you need to calm down. In that was a link to change. Orgs petition to get enough people to tell the senate to take up the housepassed equality act that gives equal freedoms to lgbtq. Stuart okay. Okay. Lauren she used that moment. We have to wait until we get the numbers for how many people tuned into the vmas. Alltime low last year, 5. 25 million on all viacom platforms. The alltime high was 60 higher in 2011. As these shows get more political, the viewers turn out. My best part was the host, the comedian, one of the best out there, did a whole monologue in the beginning that attacked millenials and safe spaces. Hes a comedian. He got beat up on twitter and social media for being insensitive. Politics for you. Go figure. Stuart go figure. Lauren go figure. Stuart expression of the day. Go figure. Thanks, lauren. Take you one more time, even though we do have a sharply inverted yield curve, the market continues to go up. We will be up about 120 points at the opening bell which is in four minutes time. Which you will see right here. Is it to carry cargo or to carry on a legacy . Its show of strength or its sign of intelligence . In crossing harsh terrain or breaking new ground . This is the time to get an exceptional offer on the mercedes of your midsummer dreams at the mercedesbenz summer event, going on now. Lease the gla 250 suv for just 329 a month with credit toward your first months payment at the mercedesbenz summer event. Mercedesbenz. The best or nothing. 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. Stuart Bernie Sanders wants to revive what he calls real journalism. Hes going after, what, facebook, google and disney . Ashley yeah, because he says hes trying to prevent them from having enormous market power, what he says is cannibalize and bilk and defund news organizations. He said small news organizations and news outlets dont get a chance. He said theres also conflicts of interest at news outlets like disney and amazon. Why . Because they promote the companies while failing to help their workers with living wages. There you are. Stuart yes. Okay. We would get to it sooner or later. Forget the exclusion of conservatives. No, you got to pay a living wage or were coming right after you. It is ten seconds to go. The market will be open. Its Tuesday Morning and we expect it to go up despite an inverted yield curve. Here we go. Three, two, one. 9 30 eastern time Tuesday Morning. Were off and running, up 269 yesterday and immediately, right out of the gate, were up we are up 120 points. Thats exactly a half percentage point. The s p, where is it at . Compos it at . It is up hold on. Here we go. Up twothirds of 1 . The tenyear treasury currently yields, lets see, 1. 52 . Okay. Thats where you are right now. Dont know whether were inverted or not. Ashley 1. 55 on the twoyear. Stuart in which case we are inverted. The markets straight up. Go figure. Heres big news. Gold, 1540 per ounce. Now let me give you the really big news of the morning. Look at phillip morris. It has confirmed its had discussions with the altria group, another tobacco company, regarding a potential allstock merger of equals. Altria up four bucks. Philip morris down nearly three bucks. An allstock merger. They are talking about it. Mike murphy is here. D. R. Barton is here. Ashley webster is here, of course. We are going to start with the landmark verdict against j j over opioids. Okay. This morning, i believe j j has opened on the upside. Yes, it has, up a buck and a half despite that verdict. You, d. R. , you say you would buy it at 129 despite the verdict . I would. I believe what we are going to see, its going to go to appeal. This may even get overturned. Because this is somewhat its not somewhat, its hugely a political issue about who can be punished for this much more complex issue. J j is going to do their marketing and the things they do at the highest level of any pharma company. They are going to be the last people in line to get nicked with things like this. They have a broad portfolio. I like them for the long term. Stuart okay. This stock, j j, has lost 5 of its value since august of last year. I think im accurate in saying that. But you still like it for the long term . I like it. I dont own the stock but it pays about a 3 yield. I think once this gets behind them which having this verdict, although its big money, it will be appealed and whether they win or lose in appeal, it could have been much bigger money. So having this uncertainty out of the way i think paves the way for good entry point in Johnson Johnson. Stuart lets get to the latest on china trade. The Chinese Foreign ministry will not confirm those phone calls conversations which the president said were held, and china says it is the u. S. That is the instigator of this trade trouble. D. R. , i dont care what the latest statements are, this is a headlinedriven market and i dont know how professionals trade when they could get punched in the teeth by an errant tweet any moment. I think its less of an issue of how the professionals trade than what people are sitting at home. Heres the issue. People sitting at home need to have a plan and stick to the plan, not spend every minute getting worried about where its going up and down. If we get a big drop, if we violate some key support levels that we have not, then we can start thinking about should we be taking some money off the table. Until that happens, i think its important to stick to the plan, not watch headlines. Stuart are you a dollar cost averager . Always putting the same number of dollars per month into this market . I think thats a good plan for many people. Not me, but for many people. Stuart heres the surprise of the morning. I will get to you in a second, mike. We are up 120 points even though we have had inversion. I hate to drone on about it. Are we getting used to it . The yield on the twoyear is above the yield on the tenyear. Not supposed to be like that but thats the way it is at this moment. Are we just getting used to it . Doesnt it count any longer . It counts as much as it ever did. That will tell you that throughout history, it signals a recession coming over the course of the next 22 months, usually, it comes. So the market, a lot of times, after an inversion, before recession, may have a very strong rally there. I think the bigger story here is that we are 4 off our alltime highs. If you look at the headlines out there you would think the world is coming to an end. The president is not doing this, trade wars coming here, so many negatives out there. We are 4 away from alltime highs. If you look at the u. S. Consumer, Consumer Confidence of people who are investing in the market, people who are putting their money in 401 k s and retirement accounts, i think they believe in the growth of the u. S. Economy. Stuart i would raise this point, too. With this yield curve inversion, i think the market is sending a message to the Federal Reserve, drop rates, drop them right now and i think maybe the markets anticipating that. Because the pressure is just so strong. So strong. All right. Lets get to uber and lyft. Both below their ipo prices, by the way. There is some unflattering, its an expose about how much money they take from their drivers. Ashley interesting from the website, they claim they looked at the receipts of more than 14,000 uber and lyft drivers to see exactly what take, they call it the skim, if you like, of all the takeins from the drivers, what rate do these companies take. They calculated 35 cap on rides of uber drivers, 38 of lyft. This is way above what the Companies Say they actually take. Uber says they take 21 . Lyft says 26 . Now, the companies are fighting back saying this is completely, its a tiny sample. There are millions of uber and lyft drivers around the world and they say this is biased because these are disgruntled drivers and they say you have to look at the big picture. They say no, we do not take 35 but of the receipts looked at, over 14,000, they say that yes, they are losing 35 for the company. Stuart mike murphy, as a longterm investor who wants to get in a brand new industry, should i buy uber at 33 . Absolutely. I told you should buy it also around 40. I own the stock around 38. Uber to me is a whole new category. I think this news that comes out, whens the last time you saw uber and lyft combining to defend themselves together . I think this could actually be helpful to them. But heres the big thing. Uber is losing money. They need drivers. They need happy drivers. They need customers. So they have the customers, they have the drivers. They need to pay drivers more. And they need to charge customers less or the same and become more profitable. So we had a gentleman on the show here running a Company Called cargo. Cargo was selling snacks in ubers to make the drivers more money, sometimes up to 500 a month. I think uber will figure out a different way, while youre in the back of the car, to somehow monetize your experience. Whether it be through stuart how can you be losing billions a quarter, raise the rate that you pay drivers and make the fares cheaper . Its going the wrong direction. Theres not enough volume to make up great question. I think thats the negative on uber. Heres the thing. If a driver can sell snacks in the car and make money from that, 300, 400, 500, thats one way. Another way is while youre in the back of the car, so much money is spent on facebook ads and google ads. What if a company could advertise to you, ashley webster, knowing what you like or dont like, what Large Companies pay for that type of advertising, i think they would. And what if uber just raised the price slightly . They did 1. 5 billion rides a quarter. If they raised your uber ride 1 per ride, they would go from a loss to a 1. 5 stuart you made your point. You took two minutes. Defending the company which youve got a stake in. Say no more. The dow industrials are up 138 points. Yeah, we are still inverted and the market doesnt care. Up 134. Big tech, got to check in. Where are they now . All of them on the upside. Apple, amazon, facebook, google and microsoft all up. Discount chains Dollar General and dollar tree have been fined 1. 2 million for selling expired drugs. No impact on the stock. Check grub hub and dine brands. They are partnering to offer delivery for more than 3,000 applebees and ihop locations. More on the delivery wars. Theyre involved. Bitcoin, still around ten grand a coin . Yes, it is. The price of oil still around, what, 54 a barrel . Is that where we are . Yes, it is. 54. 01. Colorado taking a cue from california, requiring auto makers to sell more electric cars. Oh, come on. This is america. Cant i choose for myself what car i want to buy . You can and should. Stuart i can and should. They are going after the Car Companies, not the buyer. The buyer still gets to pick. If the Car Companies dont sell enough they want to fine them or make a marketplace where you can buy and sell your electric car credits. Stuart come on, President Trump. Get involved in this. This is america. Come on. Next case. Kfc used to be known as Kentucky Fried Chicken, teaming up with beyond meat to test plantbased chicken. You are a chemical engineer. In the name of healthier eating, where do you rank all of this . I think there is a big game afoot here. 7. 3 trillion dollars of meat, poultry and seafood will be sold in 2025 globally. Thats a huge market. If they can get just a sliver of that. I think so far, this is not a health issue. This is a longterm cost issue. We are going to be able to create protein at a much lower price point to be able to feed this growing global population and at a much lower price point. Thats going to be a good thing. Stuart thats interesting. The price of protein, thats where its at. Thats the long play. Stuart okay. 7 trillion worth of meat, poultry and fish . Meat, poultry and seafood by 2025. Yes. Stuart any comment on beyond meat, mike . You own a piece of it . I dont own beyond meat. I think its a whole new sector. Its a great exciting sector. We talked about it in the low 200s that the concern for people watching your program at home is to not have the fear of missing out. Not run in and have to jump and pay exorbitantly high prices for something just because everyones talking about it. Stuart fomo. Interesting to hear you use that expression. My grandchildren use that expression. All right. Thank you, everyone. It is 9 40 eastern. D. R. , mike, thank you, gentlemen. Good stuff. We are still up over triple digits, not quite as high as we were a couple seconds ago, but up 117 despite the inversion. Got it. A golfer in australia got the wrong kind of birdie. Look at this. The man tried to avoid getting attacked by some angry birds after accidentally hitting his ball where they were nesting. Luckily the guy was not hurt. It put the fear of god in him. Run, son. Run. Bernie sanders new climate plan not getting a lot of support from top democrats. It isnt much different from aocs fantasyland green new deal. I say its just the latest evidence that frontrunners on the left are, in my opinion, unelectable. My take on that, 11 00. Plus gold hitting multiyear highs. Next, we have a guest who says its going to hit 1600 bucks an ounce in the next three months. How do you invest in it . You buy gold mining stocks . Buy an etf . Or do you pick up gold coins and bury them in the backyard . We will certainly ask him. Stuart the yield curve is still inverted, and the dow industrials are still up triple digits. I guess the market doesnt care about that inversion any longer. A passing fad, maybe. Look at the price of gold, please. We are around 1540 per ounce as we speak. Yes, 1541. Our guest says its going to 1600 an ounce in three months. Finance guy stan barney back with us this morning. Thats a rather timid forecast. Its 1541 now. It goes to 1600 in three months. Come on. When i was here last time it was below 1500. Then i said 1600. We are now forecasting 1800 by the end of this year. Stuart by the end of this year . 1800 . Why . Theres a big shift coming from equities into hard assets such as real estate, commodities, gold, oil. Stuart out of stocks into real estate, gold, oil, land. Hard assets. Why the shift out of stocks . Weve had ten years of one of the best stock markets i have seen in my 30year career. We have always had recessions every seven years. Its also one of the few times we can borrow money at dont forget, the s p 500 has almost doubled in the last ten years stuart is this coming to an end . Its not coming to an end but it definitely feels topheavy. I think theres a correction coming. I think smart money is moving into commodities and real estate. Those would be the two biggest gainers. When you can borrow money at 3 , 4 and get a 12 return, that 8 spread is implied inflation. Stuart where do i get that return . Youve had it in the stock market over the last five, six years. Stuart okay. Let me focus on gold. Because a lot of our guests, a lot of our viewers are very interested in gold. They want to know how to invest in it. Seems to me there are three choices. You can buy gold mining shares, thats easy. You can do an etf, a basket of gold mining shares, if you like, or you can buy the actual coins. Buy the gold itself, handle it, feel it and keep it. Which way do you recommend . For our viewers, that is . So let me tell you. If you look at both sides of the gold, gold essentially has had in the last 30 years two or three big bull cycles. There was one in the mid 90s, there was one in 1980 when gold hit 1,000 an ounce. Then there was one from 2003 to 2014, and i think the next gold bull cycle is starting now. It already started in april of this year, its going to last four to five years. In all these cycles, the best return has been stocks. If you buy gold say at 1500, it goes to 2,000, you get a 20 return. The stocks will go up five times, four times stuart gold mining stocks. Especially junior intermediate stocks. The major stocks will go up 20 , 30 . This ought to follow the indices, the gold price, but the junior intermediate stocks get a lot of leverage. We have seen that. They go up ten times. I can give you an example. When i, in 03 when i got into one of my first gold companies, it was called desert sun, we started at 40 cents a share and sold it to a major gold producer at over 7 a share five years later. The potential is very good. Stuart thats very good. I will give you that. I will give you that. We had several examples of that but you have to pick the cycles. In a bad cycle, the opposite is true. Gold stocks have been down sf70 80 in the last five years. Stuart your advice to our viewers is maybe get out of some of your regular stocks and go into gold mining shares because you think the big rally in gold is starting now, 1800 an ounce by the end of the year. Buy gold mining shares now. Im also saying take 5 to 10 of your portfolio and some people like to be more secure, they want to buy gold coins, but for the bulk of the younger, intermediate, middleaged people that have 10, 20 years before retirement, i would definitely buy some junior and intermediate gold stocks. Stuart got it. Stan, thank you very much. Cleancut. Good advice. We take that. Thank you. Good stuff. All right. Check the dow 30. I keep saying it. We are still inverted. Here we are, quite significantly so. The market doesnt care about that this week. We are up 120 points for the dow industrials. Next one. A lot of young people will be starting college for the first time this week. Next, we have a guest who says that for about half of those youngsters, its a rotten investment. College is a rotten investment. The man who said that is a professor or was a professor. Introducing the allnew chevy silverado. With fifty industryfirsts. Its the strongest, most advanced silverado ever. Doprevagen is the number oneild mempharmacistrecommendeding . Memory support brand. You can find it in the vitamin aisle in stores everywhere. Prevagen. Healthier brain. Better life. Stuart papa johns, look at the stock, it is up 6 . It has named arbys president bob lynch as their new ceo and this is a pizza chain and they partnered with the nba star shaquille oneal. Theres a star. Hes on this show. Shaq on this show, tomorrow morning around about this time. Tune in, please. Heres a headline from market watch. Quote, u. S. Spends too much on higher education. Peter morici wrote that and hes with us now. Im still alive. Stuart amazing. Amazing. Now, you say that about half of the College Students who are going to college this week are making a lousy investment. Right from the getgo, tell us why youre saying that. Well, the Graduation Rate is so low. Its like about 60 is the average Graduation Rate, okay . Then you have about a quarter of the people that actually graduate dont earn any more than the average high school graduate. They end up at starbucks. Its not a temporary situation. Its permanent, or they are selling cell phones at verizon. So if you put those two groups together, remember, they dont give you your money back if you dont get a good job. A lot of people go for a year or two, pile up 10, 20, 30,000 worth of debt, even more at a private school. Other people spend all four years, pile up even more debt. The students that dont do well tend to pile up the most debt because they get the least amount of financial aid. For them, college, they would have been better off buying gold. Stuart youre right. Buying those coins, burying them in the backyard and digging them up when theyre 40, too old to squander them. Stuart hold on a second. Im going to ask our producers to put up on the screen a list of the most valuable College Majors and the least valuable. Starting with the most valuable. Naval architecture, nuclear engineering, pharmaceuticals, genetics, electrical engineering. Those are valuable degrees. These are the least valuable. Drama, theater, linguistics, comparative language, fine arts. This is kind of obvious stuff, isnt it . If you notice a lot of them in the humanities. Used to be you would major in english and learn to think. It was a good preparation for law school. Now you go to school and go to the humanities college, you learn to demonstrate. Stuart i think youre right. About 40 of College Graduates cannot pass a generic exam in critical thinking. Heres a set of facts, heres a question, would you please answer this question based on these facts. Which means, and other examinations show the colleges have no value added, that the students are about as dumb as they were going out as when they came in or as bright as they were coming in. It isnt always correlated with the prestige of the school. Some little colleges in the middle of nowhere do a great job and some very prestigious schools that charge a lot of tuition and whose degree carries a lot of fancy, they dont add a lot of value. So these humanities colleges, basically they teach ecofeminism and they prepare them to work on the aoc campaigns but theres only so many jobs on capitol hill for hysterical liberals. Stuart wait a second. Youre not still a practicing professor, are you . You are professor emeritus, is it . Thats right. I am in the catalog. I could advise a doctoral dissertation and so forth. I go to school to get my mail at night, okay. I try to wear dark clothes. And i do it not just at night but like on weekends or when school is out or things like that. Because they are very angry with me. Stuart ill bet they are. Look, the president of the college i went to when i wrote an article like this last, he unsubscribed from the mailing list because he didnt want to hear about it. Stuart im not surprised, peter. We are out of time. These are facts. This is statistically based. Stuart come back and tell us more at a later date. Peter morici. If i survive. Stuart you will. Wisconsin, top dairy state in the nation, now it leads the nation in farm bankruptcies. Whats wrong with dairy farming in wisconsin . The former Governor Scott walker will join us on that one in the 11 00 hour. Forget about millenials. We have a guest who says the republicans need to focus on the very youngest voters, 18 to 24yearolds. Generation z voters. What do they want in 2020 . We will ask them. And the left stays silent after bill maher says hes glad david koch died. Wheres the outrage . Got that story for you coming up in our next hour. Stay there. Managingaudreys on it. S . Eating right and staying active . On it audrey thinks shes doing all she can to manage her type 2 diabetes and heart disease, but is her treatment doing enough to lower her heart risk . Maybe not. Jardiance can reduce the risk of cardiovascular death for adults who also have known heart disease. So it could help save your life from a heart attack or stroke. And it lowers a1c. Jardiance can cause serious side effects. Bacterial infection. In the skin of the perineum could occur. Stop taking jardiance and call your doctor right away if you have symptoms of this bacterial infection,. Ketoacidosis, or an allergic reaction. Do not take jardiance if you are on dialysis or have severe kidney problems. Taking jardiance with a sulfonylurea or insulin may cause low blood sugar. Lower a1c and lower risk of a fatal heart attack . On it with jardiance. Ask your doctor about jardiance. Stuart make a note of this. The dow industrials are up about 100 points as we get the latest on Consumer Confidence. This is an important number especially at this particular time when a lot of people are suggesting that this inverted yield curve will give us a recession couple years down the road. So we want to check where is Consumer Confidence . Is it up, down or sideways. We got the number. Were getting through the fine print so to speak. Ashley it is another good number. 135. 1. Doesnt mean anything to anyone note the expectation was 129. 5. We were up 135 in july, which was a massive upside beat. So bottom line is, Consumer Confidence numbers very strong, critical to the u. S. Economy. As much as 70 of this economy is consumer driven. So that is a very strong number indeed. Stuart no response on the market. Were still up 90 odd points. Bring in scott shellady. What do you make of the Consumer Confidence number, scott . A lot of people say well get a recession couple years down the road because of the inverted yield curve . Now we got a strong confidence number. What do you make of all this . I just lost you, sorry. Stuart scott shellady. There we go. I got you. Came back. Stuart did you hear the question, scott . No, i did not, go ahead, sorry. Stuart we got strong Consumer Confidence. At the same time we got people forecasting a recession because of the inverted yield curve. What is your analysis . You know what i think . Obviously the consumer is going to be strong. They should be strong, things are going well, number of one. Inverted yield curve is perverted yield curve. We cant be worry about that anymore. We are not facing signs of recession. The way numbers come across the tape we havent gone with recession with earning where they are. This is lot of bunk. Not something there to be worried about. With the amount of debt priced to the negative, stuart, the argument should be why shouldnt the yield curve be negative . That is what i say. Stuart i think the market is i saying to the fed, hey, lower rates. With an inverted yield curve, you have to do something about that, lower rates. That is why i think the market is up a little bit because i think the fed is under pressure here. What do you say . Maybe they will lower rate. Maybe they will not lower them as fast as President Trump would like but they are going to ease that problem. It will be hard for us to get out in front of the problem. We could have inverted yield curve for a very long time. Inverted yield curve in rate cut environment, im not worried about it. With all the weight, debt, 30 years out there, weighing on the yield curve. It will be very difficult for us not to have the inverted yield curve. That will not be the problem. Here is the problem. The problem is that weve got equities still doing very well. Close to alltime record highs. 5 off, whatever the number is today. At the same time we got, the fed worrying about cutting rates. And, the economy may be looking to be faltering a tad. You know what . Growing slower is not a bad thing. Growing slower is okay. I think everything looks okay to me. Im not worried about a recession. Forget about just remember inverted is perverted. Forget about it. Stuart okay i will quote you. But i dont know how you guys trade a market which is highly susceptible to the latest headlines. It could be a errant tweet from the president t could be a nasty tweet from the we broke solid Consumer Confidence number. Now you better listen to what bill maher had to say about the passing of david koch. Shake your head on this one, roll tape. c he and his brother have done more than anybody to Fund Climate Science deniers for decades so [bleep]. The amazon is burning up. Im glad he is dead. I hope [cheers and applause] what a great show. Stuart wow. Wall street Journal Editorial Board guy bill mcgurn is with us. Where is the outrage . The real outrage should be he is not alone. If you go on twitter, search koch and profits, it is unbelievable how, how disgusting a lot of comments are about a man passed away. Stuart conservative, if i, or anybody had said Something Like that, i mean i would be out of a job. I would be escorted from this building at 4 00 this afternoon, never come back. Today i wrote a column on this. My column is saying, a lot of people defending david koch, do it on basis of his charity. Give a lot of his money away. Look. As a businessman, just as a businessman, the jobs that he created, we had the Business Roundtable talk about stakeholders and so forth. If you look at the Koch Industries principles, they talk about satisfying customers. Pleasing employees, attract them, keep them. Helping the community. He did a lot of great things just as businessman of this very, very large american company. And there is very few products that have had the impact on Living Standards that fossil fuels have had too. He is demonized for two reasons. He was in the energyc business, fossil fuel business, and he made a profit out of it. For that they cant forgive him. Stuart just cant forgive him. I will move on. If that is okay with you, i was disgusted by that. Crowds of supporters for Elizabeth Warren clearly growing. I think he she turned out 12,000 people. A new poll shows Elizabeth Warren and Bernie Sanders have overtaken joe biden in this, this is monmouth poll were showing you. You know. It seems to me that joe bidens fading . I think he has been fading for a while. If you look at, if you look at his lead, people said his lead has gone up after the debates. That is mostly because Bernie Sanders has dropped, not because he has gained things. To make a football analogy, im a notre dame guy. This feels like one of the notre dame games we come up six points ahead, you know you are going to lose. You feel youre going to lose. He doesnt excite the party. His wife even gave this endorsement. It is like a phrase my dad used to use. Close enough for government work . Stuart i used that one myself. Actually its a good point. That is the selling point. I think now, again im not a person that believes gaffs always hurt you. Sometimes they humanize you. With this gaps late, knowing is in new hampshire, not vermont,c think he was Vice President , that looks like youre out of it. I think it is really hurting him. I dont see him getting the nomination. People are excited on the right. People dont understand this, because they regard Elizabeth Warren as an extreme it, but she excites a lot of people in the Democratic Party. She is fighting. Stuart in your judgment, if it is Elizabeth Warren who is the democrat nominee, can she win . I think she can win, because she fights, i think it is not likely. I think donald trump beats her. When there is headtohead match. We havent really had, really tough warren biden headtohead yet. That may be coming in the next debate. Stuart i think so. The next debate is not just that far away. Bill mcgurn, thank you very much. Thank you. Stuart check the market real fast. Were still where we were top of the hour. Dow industrials are up, 94 points as we speak, just shy of 26,000. Now this. There are several high schools near where i live. Over the years ive noticed a decline in number of youngsters out on the football field for practice. Soccer practice full. Football, not. Okay, that was just my own personal observation. Well now, there is a real scientific study, it shows im on the right track. The National Federation of State High School associations found 31,000 fewer High School Football players in the 201819 season. The first decl[ne in 30 years. Is the culture shifting away from injuryprone Contact Sports . I dont want to make too much of this. It is only a small decline, other tough sports like lacrosse are growing rapidly. There seems to be something about football that is turning kids and their parents off. I cant help but think of andrew luck, the brilliant quarterback, who dramatically announced his very early retirement. He couldnt take the pain that injuries and surgeries inflicted on him. He turned downs in future income because he didnt want to horrible around for the rest of his life. There is a message here. It aint worth it. The concussion story rolls on. A sport defined by hard contact causes angst with parents. Brain injuries . Who needs that . Aint worth it. Maybe there is an image problem too. At this moment in our culture, ultimate mass can lynnty is not promoted something to aspire to. Maybe Colin Kaepernick and kneelers are turning away people from the sport. Football has a problem. I dont see what can be done about it. It is a contact sport and always will be. It is aggressive, i define it, masculine and always will be. A week from thursday night i will watch my team, the packers play the bears. I bet on saturday morning, as many kidsc will watch english soccer as High Schoolers playing football. There you have it. Ashley wow. Stuart this is the second hour of Varney Company. I thought it was one of these animation things. I made a mistake. Brian kilmeade will respond to my take later this hour. Now i can tell you more. Asking him about this, unhappy colts fans booing andrew luck when news of his early retirement broke. We got that coming up for you. Also ahead the 26yearold from illinois, billing herself as antiaoc. Her name is catalina raul. What does she stand for . She is on the show next. Generation z. The age group of the younger than millenials. A lot of them will be voting for the first time in 2020. We have a guest who says they are not as socialistically inclined as a lot of people think. Hour two just getting started. We trust usaa more than any other company out there. They give us excellent customer service, every time. Our 18 year old was in an accident. Usaa took care of her car rental, and getting her car towed. All i had to take care of was making sure that my daughter was ok. If i met another veteran, and they were with another Insurance Company, i would tell them, you need to join usaa because they have better rates, and better service. Were the gomez family. Were the rivera family. Were the kirby family, and we are usaa members for life. Get your Auto Insurance quote today. They feel like they have to drink a lot of water. Patients that i see that complain about dry mouth, medications seem to be the number one cause for dry mouth. Dry mouth can cause increased cavities, bad breath, oral irritation. I like to recommend biotene. Biotene has a full array of products that replenishes the moisture in your mouth. Biotene definitely works. It makes patients so much happier. Stuart ladies and gentlemen, the yield curve is still inverted . The dow is still up close to 100 points. There you have it. 25,992 on dow industrials. Where is the price of gold this morning up slightly. 1541. Where is the bitcoin . Still around 10,000. It is 10,151. Our next guest, here she comes. She bills herself as the antiaoc. Running for congress in illinois. She is republican, only 26 years old. If she is elected, she would be the youngest person ever elected to congress. Catalina ralf is on our show. Thanks, stuart for having me. Stuart you bill yourself as antiaoc candidate. If youre antiaoc what are you in favor of, what do you stand for . Im not anthony anyone. Im pro america. If there is contrast, im fiercely driven by a love for my country. Im not driven by a hate for everything it stands for, like aoc and like her friends on the other side. Stuart what kinds of policies do you favor . Im a huge free market conservative. I think we should have a free market principles, socialism rhetoric on the otherc side iso detriment and so unamerican, that we need to get back to a framework constitution stands. Allowing. They want a climate plan. Where do you stand on Climate Change . Sure, i think, we need to talk more on the economy and in a broader sense. I think Climate Change should be addressed but, the, the policies that the other side are trying to implement, are completely ludicrous. I mean think about, the amount of money that they want to spend on, on that. Just doesnt make sense. There are other policies that are way more paramount in importance. I think that millenials need to recognize that. Stuart now you are the lawsuit i believe of a legal immigrant. I think that is accurate in saying that . Yeah. Stuart where do you stand on the whole immigration issue . Because if someone like me said, look, i want something done about the 11 to 15 million illegals living in this im branded as a racist pretty fast. How about you . Where do you stand about this. No. S racism talk has got toc end. Because we want safe and secure borders. Because there should be a process and, we should promote legal immigration, how is that illogical to ask . My mother, my family came here in a way that was respecting the laws. I think a lot of hispanicamericans agree who also respected the laws. Stuart catalina lauf. Thank you very much for joining us. Great pleasure to have you on the show. Come back soon. We appreciate it very much. Thank you, stuart. Stuart got it. Remember the Business Roundtable. That is a group of ceos including tim cook, amazons jeff bezos. They say profit should not be the main goal of Public Companies. They want to prioritize social responsibility. Where does the average voter stand on this . We have a guy who has crunched numbers for us coming up, well give you the numbers. Move over baby boomers, this year millenials take over as largest voting group bloc i should say. They are choosing a lot of things how we eat. Details on that coming up as well. Big show. Here we go. At comcast, we didnt build the nations largest gigspeed network just to make businesses run faster. We built it to help them go beyond. Because beyond risk. Welcome to the neighborhood, guys. There is reward. Beyond work and life. Who else could he be . There is the moment. Beyond technology. There is human ingenuity. Every day, comcast business is helping businesses go beyond the expected, to do the extraordinary. Take your business beyond. Stuart Consumer Confidence strong. The yield curve still inverted. Who cares . The dow is still up 100 points. Weve been there for the last half hour. We have kfc teaming up with beyond meat. They will tis, wait for it, plantbased chicken. Okay . Beyond meat ashley yum. Stuart how about Philip Morris . They have confirmed theyre in discussions, they have had discussions with the altria group regarding potentially allstock merger of equals. Allaltria up, other guys down. That be quite a deal. Johnson johnson is up four bucks after the a judge in oklahoma ordered them to pay 500 million for helping fuel the opioid crisis. More coming up shortly. Millenials will become the largest generation this year, surpassing baby boomers. Theyre changing the way we think about a whole line of products, food included. Lauren simonetti joins us now. How are Companies Responding to the millenials . Generation of 73 million. What the Food Companies are in some way, be a do good company to this audience. They like to eat small quantities of things, snacks. They also like to indulge. Star kiss, the tuna people, they came out with a tuna fish with red curry coconut. Stuart do you cook it or squeeze it out . I think you squeeze it out or put it on your bread . Ashley tofu. You tried it . Ashley i like red curry. All right. He is not a millenial. Sun maid the people. No added sugar. Tiny boxes with different flavors. General mills cereal this is tough one, you might feel alienated if youre young and if you are heart healthy. Theyre going after the older generation. We see millenials eating breakfast for dinner. Ashley my boys like that. Stuart im an oldster. Im a senior citizen. You like your brand cereal. Stuart my generation was not really that much into food. Were not. My children are all foodies. All six of my kids, theyre foodies. Ashley when you grow up in england you will never be a foodie atc least . Our era. Meat and potatoes. Maybe it is not a trend. The whole plant based movement with Kentucky Fried Chicken it is big. Stuart i snack like a millenial. Snack all day long. Dont eat, fruit, crackers and cheese and tomatoes. Ashley nice. Good snacks. Stuart stuff like that. Occasionally burger. Going to get sugar at 10 50. Lauren, that was fascinating. How we eat. Stuart interesting to see im part of the millenial trend. Look at you. Something in common with them after all. Stuart show you video. It is good stuff. Nypd released, diamond heist happened across the street from our studio. Guys obviously in disguise. Stole a Million Dollars. Theyre looking for the crooks obviously. This took place in broad daylight. Well talk about the heist and video coming up. Johnson johnson, appeal five Million Dollar opioid ruling. What does that due for lawsuits. The stock is up four bucks. Hey, who are you . Oh, hey jeff, im a car thief. What . im here to steal your car because, well, thats my job. What . What . . What . laughing what . . What . what . [crash] what . haha, it happens. And if youve got cutrate car insurance, paying for this could feel like getting robbed twice. So get allstate. And be better protected from mayhem. Like me. Hard days night and ive been working like a dog ashley working like a dog. Stuart its a classic. You know exactly what song it is. Away you go. I like it. Okay. Do you remember President Trumps state visit to britain earlier this year . You remember that one . Well, Queen Elizabeth complaining about President Trumps helicopter. Tell me. Ashley absolutely outrageous. She is very upset, mr. Trump one day landed marine one, two separate times on her lawn, which she prides a lot, buckingham gardens. Stuart get off my lawn ashley scored much it, created big divots, so much so the australian Prime Minister visited took him outside, look at my lawn. It is ruined. That particular area is the centerpiece of the queens annual garden parties. Now it has scorch marks and divots left behind by thec president s helicopter. There you go. Stuart you have the entire resources of the British Treasury to fix your lawn. Ashley yes you do, mr. Trump leaving his mark at buckingham palace. Stuart whose side are you on, ash . Ashley i think the queen can afford to do anything she wants. Fixing some lawn is not a big deal. Stuart youre a diplomat. Ashley i think that is true. Stuart okay. Ashley she has got the money. Stuart okay. The dow industrials are up 73 points, the yield curve is still inverted. S no difference these days apparently. A survey conducted by the Brunswick Group, it found that people want, a lot of people want publiclytraded companies to be socially responsible. That is right in line with the Business Roundtable. They said be more socially responsible. Dont dwell on profit all the time. The guy with research. Robert moran, Brunswick Group partner. Robert, run through the numbers. Tell me how many people think that Public Companies should be more socially responsible . We went into the field with survey after the brt announcement, 80 of americans agree with the ideas put out in the statement from the brt. Stuart wait a minute, brt, Business Roundtable . Got it. In d. C. People call it the brt. Stuart 80 . For the audience. This is the most important story you havent heard about. Soc 60 of americans heard something about the greenland purchase story last week. Only 23 of americans heard about this story. In a nutshell the Business Roundtable, which is an association of american ceos came out with a statement that said, they wanted to deliver value to all corporate stakeholders, including shareholders. And that is, there is somewhat of a debate going on in the Business Community and theoretically for the past 30 years about, do you, have and only shareholder view of the corporation, where you maximize value for shareholder . Do you have a stakeholder view where you maximize value for all stakeholders including employees, customers, communities, et cetera. It is somewhat of a false choice. We actually believe you need to put the Customer First but the Business Roundtable came out with this. 80 agreed with the statement. 68 of americans said they wanted to take the ceos at face value and, you know, see how they operate. So stuart as things stand now, american corporations focus on profit. I think that will be true to say that. Right. Yes. Stuart i dont know why, people dont approve of that . Is this, people take a negative view of the modern corporation . Right. So the argument goes like this. Say focus on maximizing value for the shareholder in terms of profit and value of the company. The other says that if you want to have a longterm license to operate in this society you need to take into account all of the views of a range of stakeholders, including the communities you operate in, your employees, your supply chain. And, et cetera. Stuart ive got a problem with that, it is my money. Right. Stuart when i buy a piece of stock in a company i want it to make money. Im putting my money at risk. I think i should be the priority. Exactly. Now what, what you have just raised is the fundamental debate between these two, these two ideas. Shareholder value versus stakeholder value. The brt ceos, have said shareholders should be prioritized for value but within a much wider range of stakeholders. Now, my reading of this is that these ceos are reacting to a couple things. They are reacting to generational shifts and ideas about capitalism and the market. Theyre trying to defend capitalism. Theyre looking at 2020 and at warren and sanders and thinking about how they sort of defend rhetorically against that. What theyre trying to do is hedge a little bit to defend against warren and sanders, trying toudlfend capitalism broadly in the United States. Stuart i have a minute left. I want you to tell me about lithium. Lithium very important making batteries going into electric cars, a lot of other things too. You say chile is sitting on a gold mine of lithium. Tell me more. You actually need to look at lithium, copper and cobalt. Lithium and copper are dominated by chile. Chile has 52 of the proven resources of lithium in the world. In fact 27 of all lithium reserves are in one valley salt flat in chile. Just one salt flat. Chile could become in time essentially the saudi arabia of lithium. And the saudi arabia of when we move to electric cars, the key strategic country with that mineral. Stuart that is fascinating. Robert moran. You always come up with good stuff. That lithium thing was really cool. Thank you, robert. Well see you real soon. I am interrupting this. Because we got a president ial tweet. A tweet about brazils new president bolsonaro. Here it is. I have gotten to know president bolsonaro well in our dealings with brazil. He is working hard with the amazon fires. He is doing great job for the peel of brazil. Not easy. He and his country have the full and complete support of the usa i shall tag that byc reminding people this morning bolsonaro said no thanks to the 20 million that the g7 offered to fix the amazon fires. Ashley thats right. Stuart hence the president ial tweet. Big story today in corporate world. Oklahoma judge ruled Johnson Johnson liable for fueling the Opioid Epidemic, ordering them to pay 572 million as a settlement. Grady trimble is with us. This morning j j said they are appealing. Is that correct . Reporter that is correct. Right after the judge made his decision attorneys for Johnson Johnson called the ruling flawed. They said right away we will appeal this because throughout this sevenweek trial they denied any wrongdoing causing the Opioid Epidemic in oklahoma or elsewhere in the United States. They reit raided that in a press conference after that judge made his decision yesterday. Take a listen. We are disappointed and disagree with the judges decision. Johnson johnson did not cause the opioid abuse crisis here in oklahoma or anywhere in this country. Stuart opioid lawsuits. What does this mean for other opioid lawsuits . Its ac precedentsetting ruling yesterday. There are 2000 cases that are about to go before a federal judge in ohio. Those cases have been consolidated as one. He, that judge in ohio, has been pushing for them to settle outside of court. The question now is, does this ruling embolden those local municipalities, states, bringing lawsuits, taking them to trial, a ruling larger than a settlement would be. Stuart answer to that question is yes. Grady trimble, thank you very much. See you soon. Coming up we have a guest that says generation z, younger than millenials, generation z will be a crucial voting bloc in 2020. Our next guest tells us what generation z wants. I dont know. New survey, finds millenials are far less patriotic than older generations. Well get a reaction from a real patriot, pete hegseth, he loves america so much he got the constitution tattooed on his arm. Im really into this car, but how do i know if im getting a good deal . I tell truecar my zip and which car i want and truecar shows the range of prices people in my area actually paid for the same car so i know if im getting a great price. This is how car buying was always meant to be. This is truecar. Join us for a walk . Id love to, but my legs and feet are so tired and achy. Walter, you need revitive its the circulation booster it really got me moving. I use my revitive every day to relieve my aching legs and feet. Its so easy. Drug free. And its electrical muscle stimulation really improves the circulation in my legs. Im back walking this guy everywhere. Check it out online. Revitive. Fda cleared. Clinically tested. Only revitive relieves aches and pains, increases oxygen rich blood, and strengthens leg muscles. Weve gotta do this. Dont suffer any longer order revitive medic with a 60 day money back guarantee. With Free Shipping and free returns. Someone got revitive. Order now and well send you our most popular treatment boosting accessories. A 50 value absolutely free go to revitive. Com or call. Get moving today stuart all right. Were holding on to a small gain. 70 points up for the dow industrials. 25,967. Here we go. Another president ial tweet. He is tweeting about those rumors about his doral resort in florida. Here is the tweet. No bedbugs at doral. The radical left democrats upon hearing that it would be perfectly located for the next g7, doral national, miami, was under consideration for the next g7 spread false and nasty rumor. Not it at that another president ial tweet. It really does. Those voters will be 18 to 24 years old a lot voting for the first time. They said theyre a very Important Group to target in the election. Hanna blair, real clear politics opinion writer. Hannah, you studied 18 to 24yearolds, you studied them, what will they respond to . I not only studied them. I am part of that generation. I wrote the article for real clear politics. I wrote that my generation were overlooked and misunderstood, by people on right, well make up 1 10 of the 2020 electorate. Young people always have a major influence driving culture. To understand t generation you have to look what shaped us, right . We grew up during the Great Recession and war on terrorism this was during our formative years which instilled instability and skepticism that remains with us today. As 2020 democrat hopefuls are pushing socially, fiscally radical proposals like reparations, free college, canceled student debt and 93 trilliondollar green new deal, open borders and so on, it is no wonder my generation is shifting towards the stability of conservatism. Stuart i always think younger people have socialist inclinations because young people tend to be idealistic. That was true of most of us when we were young. Youre saying 18 to 24yearold group is not socialistically inclined, not idealistic as older people. Is that true . What we have to realize is that, you know, there are con i can flicking polls out there, conflicting studies showing what genz actually believes. Polls say gen z favors socialism. The left has done a good job stigmatizing conserveativism and capitalism. Gen z are digitally native generation. They have been bombarded withc volumes of Digital Information before they even learn to talk. They are experts filtering out disingenuine messages. They are rejecting platforms that push false narratives, fake news. They are turning towards social media platforms that allow them to create their own content, right . Like ticktock and snapchat. Only 9 of them use facebook. Which pushes fake news. So they, theyre not giving in to the fake news of socialism. They know how to do their own research. And once they look beyond the label of socialism and get beyond the labels they are actually able to use their own discernment and they may like the word socialism but their principles are more fiscally conservative. Stuart us taxpayers are pleased to hear that you dont necessarily want free stuff. Hanna blair, thanks for joining us many im sure we will see a lot of you in the future. Thanks for having me. Stuart next, Brian Kilmeade. Im asking him, what i was talking about at the top of the hour, our editorial, are youngsters playing less football, and they are, because theyre more likely to get hurt. Were asking brian in just a moment. Theres a company thats talked to even more real people than me jd power. 448,134 to be exact. They answered 410 questions in 8 categories about vehicle quality. And when they were done, chevy earned more j. D. Power quality awards across cars, trucks and suvs than any other brand over the last four years. So on behalf of chevrolet, i want to say thank you, real people. Youre welcome. Were gonna need a bigger room. 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. Stuart the market story of the morning is, stocks are still up even though we still have an inverted yield curve. Doesnt look to make much difference these days. Ashley none. Stuart joining us live on the radio, Brian Kilmeade, host of the Brian Kilmeade radio show. Brian, bear with me for a second here. We have a new president ial trump tweet. Here we go. The g7 was a Great Success for the usa and all lame Media Coverage brian im inclined to agree with the president , how about you . Everything i read is 100 right. For example, i go on drudge, i see this story, says macron tames trump. Im thinking where did this come from. Let me see what the point of view is. The whole story is how macron went out of his way to make sure the president achieved his objectives. He said can we meet oneonone without staff . They did. This meeting went on three hours. Both feel like they gained from it. Listen when it comes to Climate Change, i get that is not your thing is trade. Im worried about iran situation. I asked the foreign minister stop by, if i can work out something . Sure. He is not taming trump. He is working with trump. He is the host. What do you want him to do . Okay you can host the g7 . That is what he is for. Macron has nicer suits of the he is a little bit younger. The president got the better country with the better economy and better military. I will take that tradeoff. Stuart that says it all. Talk sports with you. At the top of the hour i had an editorial 31,000 fewer high schoolkids are playing football than in last year. It is the first decline in 30 years. I think it is because itj5n a contact sport and parents and kids are afraid of injury. What say you . Well overall, Sports Participation is down slightly from 43 to 38 . I think we discussed that in real life. Im not sure if it was on television. I dont think i know the difference anymore but i do think this, kids are getting distracted to do other things, couple things. Coaches are getting way too serious. I brought a team, i was with my daughters and sons team in england. I was amazed no parent showed up to any game. The kids doing goals down themselves. They went to the clubhouse where parents pick them up in the end. In america, not only do parents come, they stay. They talk to coach about playing. After a while big push on television you have seen commercials, you have 8yearold kid retiring from sports because of the pressure put on him. Number two is the price. Things are getting very pricey for those in club sports. Got to write a 3,000dollar check. If i tell my parents i need 3,000 to play soccer. Congratulations youre not playing soccer. Play in the front yard. It would have been impossible to play. When it comes to football, a lot of publicity about head injuries, real or not, concussion protocal gets parents worried. They can compete but they dont need to necessarily put their kids in jeopardy. Stuart what do you make of the indianapolis coltsc priest sean game where andrew luck was booed because of early retirement . That is absolutely i think out of bounds. The young man is entitled to make the decision he made. That is a good one. That is where im coming from. 29 years old, lacerated kidney, separated cartilage of his ribs. Torn labrum of his throwing shoulder. He had a problem with his ankle. Going through rehab last three or four years. I dont want to do it anymore. He got a 15 milliondollar payout. He was looking at 500 million. This guy, andrew luck who is intellectual. He went to stanford. He is as curious as anybody. Almost as if football got in the way of his science degree. He does not want to play anymore. He loved the sport but cant take rehab. What happened, the indianapolis fans find out because of Adam Schechter breaks the story before finding out. They started booing this point in the preseason. Get a perspective. He is given everything to the franchise. Were on kaepernick for taking a knee. Were upset about certain things that happened in sports with megan rapinoe. Were mad when athletes decide they dont want to go to the white house. Take a knee with the national anthem. What about a fan code of conduct . You also have to show some class. Stuart yes. It goes both ways. Stuart itc does. Just because you pay a ticket, doesnt mean you have to act rude. That is exactly what i was witnessing on a state which is known to be nice, i still say theyre the nicest people in the midwest, indianapolis especially. That was no class. You owe that guy an apology. Stuart three subjects, 100 agreement on all three between varney and kilmeade. Unbelievable. Go down in the annals of history. Never happened. Stuart did today. Brian, thanks very much. See you soon. Got it. Thanks for having me. Stuart well talk to one of our market watchers who says it is time for the fed to lower Interest Rates to near zero. He will make his case. He is a famous guy too. Plus, judge Jeanine Pirro has a book. She says the left is trying to remake america all because theyre ticked off that President Trump won the election. I think shes right. I want to know more about this one. Judge pirro coming up. Wall street journal doug through sanders climate plan, it will truly surprise you. Trillions of dollars to earmark, for example, weatherize and retrofit Small Businesses to help families buy a new electric car. Can you believe this . I think it makes him unelectable frankly. My take is next. 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. Trulicity is for people with type 2 diabetes. Its not insulin. I take it once a week. It starts acting in my body from the first dose. Trulicity isnt for people with type 1 diabetes or diabetic ketoacidosis. Dont take trulicity if youre allergic to it, you or your family have medullary thyroid cancer, or have multiple endocrine neoplasia syndrome type 2. Stop trulicity and call your doctor right away if you have an allergic reaction, a lump or swelling in your neck, or severe stomach pain. Serious side effects may include pancreatitis. Taking trulicity with a sulfonylurea or insulin increases low blood sugar risk. Side effects include nausea, diarrhea, vomiting, belly pain and decreased appetite, which lead to dehydration and may worsen kidney problems. I have it within me to lower my a1c. Ask your doctor about trulicity. Their medicare options. Ere people go to learn about before theyre on medicare. Come on in. Youre turning 65 soon . Yep. And youre retiring at 67 . Thats the plan well, youve come to the right place. Its also a great time to learn about an aarp Medicare Supplement insurance plan, insured by Unitedhealthcare Insurance Company. Heres why. Medicare part b doesnt pay for everything. Only about 80 of your medical costs. This part is up to you. Yeah, everyones a little surprised to learn that one. A Medicare Supplement plan helps pay for some of what medicare doesnt. That could help cut down on those outofyourpocket medical costs. Call Unitedhealthcare Insurance Company today. To request this free, and very helpful, decision guide. And learn about the only Medicare Supplement plans endorsed by aarp. Selected for meeting their high standards of quality and service. This type of plan lets you say yes to any doctor or hospital that accepts medicare patients. There are no networks or referrals to worry about. Do you accept medicare patients . I sure do see . Youre able to stick with him. Like to travel . This kind of plan goes with you anywhere you travel in the country. So go ahead, spend winter somewhere warm. If youre turning 65 soon or over 65 and planning to retire, find out more about the plans that live up to their name. Thumbs up to that remember, the time to prepare is before you go on medicare dont wait. Get started today. Call unitedhealthcare and ask for your free decision guide. Learn more about aarp Medicare Supplement plan options and rates to fit your needs oh, and happy birthday. Or retirement. In advance. Stuart no wonder the democrats canceled the candidates debate on climate. Just take one look at Bernie Sanders climate plan and youll see why the Party Bureaucrats are so alarmed. Its not much different from aocs fantasyland green new deal. In 2020, if they run with this plan or anything remotely like it, they lose. Now, im indebted to the wall street journal which read all of bernies plan. Here are some of the highlights. All Power Generation and all transportation must switch to renewable forms of energy in 2030. Only ten years away. All got to switch. No coal, no oil, no nat gas, no nuclear power. Gee, wouldnt Energy Prices go up dramatically . Thats what youd think, right . No, says bernie. After 2035, electricity would be quote, virtually free because its provided by the sun. And the wind. And all the people working with fossil fuels, out of a job . No, says bernie. They will be transitioned to this brave new renewable world. Besides, he says, his plan will end unemployment by creating 20 million jobs. Lets get to all the spending his plan requires and by the way, it is your money that he will be spending. 2. 2 trillion to weatherize and retrofit small business. 2. 2 trillion. 2. 1 trillion for switching to electric cars. I would love a tesla so long as someone else pays. 527 billion for Free Universal School Meals and to expand food stamps. Whats that got to do with climate . I dont know. Heres a real doozy. 36 billion to help people transform their lawns into foodproducing or reforested spaces. Look, i could go on. Consider the 16 trillion price tag. This economydestroying pie in the sky dreaming will be paid for by you. This is the kind of plan being seriously proposed by the progressive wing of the democrat party. Which is now gaining traction. My conclusion is this. The frontrunners are unelectable. The moderates are desperate. They are losing control of the party. The climate warriors, the socialists, are leaving them over the electoral cliff. The third hour of Varney Company is about to begin. Stuart i said that many times. Every picture tells a story. Why are we playing that . Not because of my editorial. We will get to that in a moment. We are playing the song for mark grant, who is with us on the program today. This song is in your note this morning. You topped your daily note with that song and you related it to Interest Rates. Give me the story, please. People dont understand what has actually happened in the world. They want to blame inverted yield curves, they want to talk about what investors are doing. The fact that we have 17 trillion in negative yielding debt is caused by one thing and one thing only and its by the nations of europe that have directed the ecb, the ecb has no independence like the fed does. They have directed the ecb to make pixie dust money which they have. They have 1. 2 trillion more than the fed and theyre spending it buying sovereign debt and Corporate Bonds in europe and thats driven yields, for instance in germany, they have negative yields from zero to 30 years and most of the other European Countries have negative yields, five years and in, and the fed, who is the central bank of the United States, not the central bank of the world, is going to have to respond so i would say every picture tells a story, you have to see clearly what it is, and the feds got to lower Interest Rates close to zero to respond to this, in my humble opinion. Stuart your opinion is never humble, mark. But its often right. Thank you, stuart. Stuart thats okay. Tell me about these negative Interest Rates in europe. You have been writing about this for a long time. My question is, is it working . I presume they are doing this, a, to pay for all their social programs which they cant otherwise pay for, they are just printing money and b, they want to stimulate the economy. Is it working . The first part, its working, stuart. Their Interest Rates in europe, switzerland, the european union, even japan, are incredibly low, way lower than the yields in the United States which is almost unreal, and the reason is because they keep buying up all the debt with this pixie dust money, so that part is working. Their Interest Rates are just off of zero, 1 . Matter of fact, today, i dont see it at the exact moment but the tenyear treasury in the United States is 1. 5 , 1. 51 , and i think its going lower because all the european Money Managers and everyone in europe is buying up american debt so i think no matter what the fed does, our Interest Rates are going lower still, which will help borrowers of any sort, obviously, but it puts a great deal of strain on savers, retirees and Pension Funds and i think eventually we will get into some kind of crisis where we see Pension Funds going bust and people that are retired screaming that they cant get any yields. Stuart i was thinking of retiring, but i guess ill stay working. Keep the cash flow coming. Know millenial hater, keep going. Stuart i didnt know you watched the show as well, mark. I will be very careful what i say. Yes, i do. Yes, i do. Stuart mark grant, youre all right. See you again soon. Thank you, sir. Appreciate it. Thank you, stuart. Stuart couple of stocks want to look at real closely. Uber and lyft. Theres a new report and it says these two companies are pocketing more money from drivers fares than they have been reporting. Uber said they were only taking 21 of a rides fare. Lyft said it was 26 . This report found on average, uber took 35 and lyft took 38 . Both stocks, up this morning. There is some good news for lyft, though. Analysts at guggenheim are saying they will be able to turn a profit in just two years. They are raising the price target for lyft to 60 a share. Which i think would still be below the ipo price. How about grub hub and dine brands. They are partnering to offer delivery to more than 3,000 ab wi applebees and ihop locations. This is more of the delivery wars which are not going away. Let me recap my editorial. The president ial frontrunners on the left are in my opinion, unelectable. The moderates desperate. The climate warriors and socialists are leading them over the electoral cliff. More on that. We have a new study claims millenials care less about patriotism, we lidreligion and as previous generations. What does capital america, pete hegseth, think about that . Hes on the show next and well ask him. 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 . Content on their endless quest, to nowhere. S, run hopelessly in their cage. But perhaps this year, a more exhilarating endeavor awaits. Defy the laws of human nature,at the summer of audi sales event. Get exceptional offers now. Stuart Bernie Sanders, he wants to revive what he calls real journalism. Hes going after facebook and google. Deirdre . Deirdre i feel like i should sing a little tune from cher, if i could turn back time. Thats what hes trying to do. No, please dont. Hes trying to block future media mergers, bring back old fcc rules that limit newspaper and tv ownership in the same market and tax google and facebook because they have gobbled up all the ad money that used to go to newspapers. That is whats happening but i think thats just the modern evolution of the industry, and the only way to try to curtail that is to bring back old regulations but they are foerld a reason. They are out of date. Hes trying to drag everybody back a couple decades. Stuart a reactionary . I dont know about that. Dont say that, stuart. Still on bernie, i know just the man to respond to my editorial about bernies mammoth 16 trillion climate plan. Pete hegseth, who else. Fox Friends Weekend cohost. You saw my editorial. You heard it. 2. 1 trillion for families who wish to switch to electric cars. You would love a tesla for free, wouldnt you . For free, sure. Yeah. Know what . You just talked about turning back time, you said it properly. Thats precisely what he wants to do. Find me one scenario where these ideas have ever worked. Listen, if the market wants to move toward renewable energy, great. We all want a cleaner environment. Thats a good thing. But when you force it on people with government intervention, of course you make peoples lives worse, you make things more inefficient and peoples lives tangibly get worse. I go to the gas station, i drive my car that i choose to get from a to b and you are telling me by 2030, you are going to get rid of all of that . Its pipe dream lunacy. The problem is he really wants to do it. Hes the frontrunner of the democrat party. Stuart surely he knows people will not vote for this or am i out of line here . I cant see people voting for this. They wont, but in his mind, good intentions matter better than good results. So capitalism is evil because of profit and profiteers. I care more about you and want to give you free things, therefore, im better than the other side. Except as history shows us, ive got more prosperity in this iphone given to me by capitalism than anything socialism has ever given anybody. Problem is, young kids coming out of colleges are being baptized in these views. These are socialist world views so they like it and are tempted to be for it. Stuart you dont even have to wind up pete hegseth. Just put him on and off he goes. Hes pretty good, ive got to say. Heres another one for you. Got this new survey. Wall street journal says millenials, far less patriotic than older people. 80 of those 55 or older, they think patriotism is important. Only 42 of millenials. Explain that. I cant. I can. I mean, first of all, as you get older, you get wiser, you learn the ways of the world and learn what really matters. Things like flag, things like faith, things like family, that you discount younger in life because youve got fantastical ideas about whatevers been pumped into your head. This all goes back to education. It really does. Are schools saying the pledge of allegiance . Are we teaching civics and economics . If were not, think about it, earth day is usually celebrated more actively and vibrantly at elementary and junior high schools than veterans day, than any other patriotic holiday on the calendar because we cant talk about jingoistic or nationalistic to talk about the flag so we will talk about recycling. That creates a bunch of people obsessed with Climate Change and not willing to stand for the values america has always stood for. It all translates. Abraham lincoln once says the philosophy of the school room in one generation becomes the flows philosophy of government in the next. Thats what we are seeing. Its not just the ivory towers of the ivy league. Its your local high school captured by washington, d. C. Left wing interests and they are ramming it down their throat. By the way, we removed bibles from schools a long time ago and wonder why we dont understand the cultural narrative of the western civilization which is the bible. Stuart you are absolutely right. I have one more for you. I can wind you up on this one. Beyond meat, you have heard about beyond meat. Yes, of course. Fake meat. Stuart they are partnering with Kentucky Fried Chicken, kfc as they are now known, to do fake chicken. They are going to test fake chicken. Now, i saw you on fox friends this morning grilling up a cheeseburger. So i presume you are not very much in favor of this. I was hoping you would address me as the fox friends World Champion of grilling which i did achieve this morning. Ashley congratulations. Stuart what a title. It is the title, they gave it to me so im going to keep it. You think Bernie Sanders is jumping the shark . Chickenless chicken . Kfc without chicken . What is it . Stuart i dont know. Plants. Plantbased food. Plants. I would start a garden and i would eat plants. I want fried chicken. Stuart you are saving the planet. Didnt you know that . Go to plantbased food, save the planet. Come on, hegseth. Where you been . Forget about the planet. I want good fried chicken. Im fine with chickens caged. Caged or cagefree, either way. Stuart it was the 101st airborne, wasnt it . I will never make the mistake again. I know you wont. Which we used to call the chokin chicken. Brings it full circle. Stuart what do you do after this . Go take a nap . I go have a cheeseburger. Stuart you are a great guest. We prsappreciate you being on. All right. While were at it, check the price of gold. Why not . Hegseth, gold, bitcoin, why not. Gold bitcoin, bitcoin is down 171. Sorry about that. Youre still holding. 10,137. Have we got the price of gold . Yes. 1549, its up 12 bucks as of now. We are watching the price of oil. Thats still hovering around 54 a barrel. 54. 10, to be precise. Look at gas. Down again. The National Average for regular is 2. 58 and falling as we speak. Eddie murphy back on saturday night live. Hes going to host the show for the First Time Since 1984. Of course, we will tell you when in a moment. First, though, the highest paid woman in music no longer beyonce. In fact, this person made 100 million more than beyonce. Ashley wow. Stuart we will tell you who it is in a moment. Were carvana, the company who invented car vending machines and buying a car 100 online. Now weve created a brand new way for you to sell your car. Whether its a year old or a few years old, we want to buy your car. So go to carvana and enter your license plate, answer a few questions, and our technowizardry calculates your cars value and gives you a real offer in seconds. When youre ready, well come to you, pay you on the spot, and pick up your car. Thats it. So ditch the old way of selling your car, and say hello to the new way at carvana. From the 5am wakers, to the 6am sleepers. Everyone uses their phone differently and in different places. Thats why Xfinity Mobile created a Wireless Network that auto connects you to millions of secure wifi hot spots. And the best lte everywhere else. Xfinity mobile is a different kind of Wireless Network designed to save you money. Save up to 400 a year on your wireless bill. Plus get 250 back when you buy an eligible phone. Click, call or visit a store today. Stuart i know this. Ive got this. Ive got this. Okay. Thats taylor swift, of course. She released her latest album last friday. Shes the highest paid woman in the music industry. She beat out beyonce. Ms. Swift took in 185 million over the past year. Thats thanks to her recent stadium tour. Compare that to beyonces 81 million, rounding out the top five rihanna, katy perry and pink. Now, we are still talking about taylor swift because you can catch her on the newest season of saturday night live premieres next month along with eddie murphy, who is making a longawaited return. Deirdre he is going to host apparently on december 21st which is a big show for that show, right before the holiday season. But the first one since 1984. If you watched at that time, you may remember he had a bunch of famous characters, mr. Robinsons neighborhood, buckwheat, gumby. He had a lot of hits that ended up feeding his big screen career. He went on to do a lot of movies which actually, i think hes on snl to promote if im a cynic. He will probably sign a deal with netflix worth 70 million, if im correct. Chris rock had one that was 40 million for two episodes. Dave chappell, 60 million for three episodes. Its not quite clear if this is signed between eddie murphy and netflix, also not clear if hes going to do two or three or four episodes. But 70 million is the number being talked about. Some of his peers have gotten it for two or three episodes. Stuart big number. Whats this about coming to america . I remember that movie. Ashley back in 1988, 31 years ago, they are making coming to america 2. If you remember in the original, murphy plays this african prince, comes to new york city to escape an arranged marriage. In this one, hes poised to become the new king of his homeland when he finds out he has a son in new york, so he comes back to find his son. Tracy morgan will be in it. Leslie jones, who is terrific, from snl will be in it. Its going to be very good. Stuart eddie murphy back in the headlines. Well take it. Now, then, what do we have next . We have a mystery guest. A mystery guest coming into the studio shortly. Someone who works closely with all of us. He will join us momentarily. Stay there, please. If your gums bleed when you brush, you may have gingivitis. And the clock could be ticking towards bad breath, receding gums, and possibly. Tooth loss. Help turn back the clock on gingivitis with parodontax. Leave bleeding gums behind. Parodontax. What about him . Lets do it. Come on. This summer, add a new member to the family. Hurry in and lease the glc 300 suv for just 419 a month with credit toward your first months payment at the mercedesbenz summer event. Going on now. In the last year, of cybercrime every second. When a criminal has your personal information, they can do all sorts of things in your name. Criminals can use ransomware, spyware, or malware to gain access to information like your name, your birthday, and even your Social Security number. [announcer] thats why norton and lifelock are now part of one company, providing an all in one membership for your cyber safety that gives you identify theft protection, device security, a vpn for online privacy, and more. And if you have an Identity Theft problem, well work to fix it with our Million Dollar protection package. There are new Cyber Threats out there everyday, so protecting yourself isnt a one time job, its an ongoing need. Now is the time to make sure that you have the right plan in place. Dont wait. [announcer] norton 360 with lifelock. Use promo code get25 to save 25 off your first year and get a free shredder with annual membership. Call now to start your membership or visit lifelock. Com tv stuart now we have turned south for the market, down just 20 points, but the reason for this is really Interest Rates. So look, ash, youve got your computer open. Give me the yield on the twoyear. Ashley the twoyear is 1. 526 . Stuart the tenyear . Ashley 1. 483 . It stayed inverted all morning. Stuart now it counts for something, because rates are falling so sharply. Ashley they are. Stuart 1. 48 on the tenyear . Ashley check out the 30year. 1. 96 . Going down and down. Stuart thats an historic low or very close to it. To me, the bottom line here is that the sharp drop in Interest Rates that we have just seen in the last hour or two, thats kind of upsetting the market. But the bright side is when we report Mortgage Rates, we will have real good news to report. Ashley certainly hope so. Stuart i think we will get to 3. 25 . Ashley also screaming to the fed make sure you cut rates. Stuart exactly. Make sure you cut rates. You got to do it. Lets get to our mystery guest. Hes not on the screen yet. Deirdre its not kim jongun. Stuart officials in china, thats him. There he is. Officials in china say they dont know anything about those phone calls that President Trump mentioned over the weekend, offered to rekindle trade talks. Get your head out of that phone, young man. Youre on. Im looking at the latest. The latest is yes, the chinese, spokesman for the Chinese Foreign ministry saying they dont know anything about the phone calls this past weekend. However the deputy level, they talked last thursday so there were phone calls and they are ongoing calls. There is supposed to be a call between the premier, vice premier and the u. S. Trade representative today or tomorrow. Thats coming soon. Stuart as i understand it, the Chinese Foreign Ministry Said the u. S. Needs to stop all wrongful actions, i think they said that, and they are pushing back against us, saying we are the instigators of the dispute. So they are taking a harder line in response to President Trump at the g7. That about right . Thats about right. Thats whats been happening. Every time we push, the chinese push back using tariffs, using other measures to push back against us within the country there. So yeah, thats exactly whats happening. They are not backing down. They are not coming to the table. They are waiting for us to make phone calls and say hey, come talk with us. So theyre not really reaching out. Its kind of a stalemate at this moment. They are waiting for something, some sign, i think. Stuart ive got to think xi jinping is in trouble with his politburo which is split. The economy in china is in trouble. Its a global game of economic chicken. Chinas economy falling south, can it fall fast enough to where they will come to the table and say we need something. Stuart this is a headlinedriven market. As soon as you guys get a headline, report it, the algorithms kick in and the market is that will be the next, there will be a phone call and they will set up facetoface meetings. The 13th round in washington, d. C. In september. Stuart edward, thanks for being with us in new york today. You do great stuff for us. We appreciate it. Lets bring in dan clifton, an analyst at strategas. I read your stuff. You are saying its not russia thats going to interfere in the 2020 elections, its china. Make your case. Yeah. So sometime in midapril of this year, the chinese just made a decision they can wait President Trump out, that they werent going to do a deal, and they basically took a very good trade deal that was 90 agreed to and pulled that back. So their belief is that by not doing a trade deal, there can be greater economic pressures that will make it harder for trump to get reelected. Thats whats causing some of the strain. I wouldnt blame it all on the chinese. I would say the Federal Reserve has to respond to what youre seeing in the inverted yield curves as you just referenced and be able to cut rates, provide the liquidity, because ultimately, the chinese are devaluing their currency, the dollar is strengthening and manufacturing is beginning to weaken here. So we need to see some offset from u. S. Monetary policy. Stuart i think the markets putting pressure on the Federal Reserve and saying hey, look, with the yield on the twoyear treasury at 1. 55 , or no yeah, 1. 52 at the moment, the markets saying hey, you, the fed, lower rates and do it right now. Thats what theyre saying, isnt it . Thats exactly what theyre saying. The fed is too slow of an institution to respond to all this. The effective fed funds rate is above where we think inflations going to be over the next five years. Bad things happen to the economy if it stays there. Stuart, the good news is that we can just lower the fed funds rate, put it back below where expected inflation is going to be. All it does is require a tweak from the Federal Reserve. They should do a 50 basis point cut to make sure that were there. The fed chairman has been unwilling to move at that speed. Stuart outside of the fed and Interest Rate argument, talk to me about the trade war, the trade dispute with china. You think its not good for President Trump in 2020. Well, theres now bigger risks to the president , right. The president came in and said i promise im going to get a better economy. He deregulated, he cut taxes, he had a very stellar economy in 2018, and the bond market is sending a signal that there is some weakening signs here. Some of it is global, some of it is here in the u. S. Domestically. So what we are starting to see is the bending markets which are not predictive, but they are starting to favor the democrats as the favored to win the election. So the president needs some sort of better Economic News to reassert that or hes going to be in trouble no matter who the democratic candidate is. Stuart as we look towards 2020, what do you make of this poll that shows Bernie Sanders and Elizabeth Warren in a dead heat, and they have actually beaten out joe biden . Joe biden is really fading. What do you make of that . Listen, stuart, i think this is a big story. The betting odds now place Elizabeth Warren as the overwhelming favorite over joe biden. You see joe biden who lacks vision, falling in the polls. Warren who is building a movement, 15,000 people in seattle this week, gaining momentum. I dont think its going to be immediate in all the polls where you see this. As we get closer to iowa in february, shes got a lot of the momentum right now. The challenge for warren is shes got to prove that she can beat trump. If she can prove that, she will start taking some biden voters away. Stuart tell me that again. You are telling me the betting markets, the gamblers, the bookies, they are saying Elizabeth Warren is now the overwhelming favorite to take the democrat nomination . Really . Last night she cracked 30 in a crowded field. Joe biden was at the lowest level since he entered the race at about 24 . Now, that may have changed throughout the course of the day, i havent looked at it the last couple hours. But it was a clear decisive move in the betting markets, where they are taking a forwardlooking view, thinking that warren is now the favorite to be the democratic nominee. Stuart buckle up. Its going to be a wild ride. Dan clifton, good stuff. Thanks for joining us. Thank you. Stuart next case. Irs scammers. Theyve got a new way to poach your information. Not by phone anymore. What are they up to . Deirdre email which is really dangerous because we are all so used to communicating by email and its become such a big part of our lives it doesnt necessarily stand out as the incorrect thing that it is. Officials are warning taxpayers this month if you get an unsolicited email from the irs, its not from the irs. In fact, the irs will never, they say, a lot of these officials, they will never reach out to you by email, text message, social media or by phone. Basically, they will mail you a bill. If you owe the government money, you will hear from the government and it will be in your mailbox. It will not be from any of these other ways. This is concerning. I actually got a phone call saying your Social Security number may have been compromised and the tape sounded very official so just be warned. If the government needs to get in touch with you, it will find you via your mailing address. Stuart thats one good use of the postal service. Its a good one, too. Interesting. Thank you. Next case. Former patriots tight end rob gronkowski, the gronk, i believe hes called, hopping on the cbd band wagon. Ashley announcing a new partnership with cbd medic, which provides topical products that contain cbd which is considered a pain reliever. By the way, cannabis of any kind including cbd is banned in the nfl. Gronkowski said when he left football, he said i was not in a good place, i wish i could have had cbd to relieve the pain when he played. He said i needed to recover and i would have welcomed Something Like this that would have been available but there you go. The latest person to get involved in the business of cbd. Its the extract that does not contain any thc which gets you high. This is considered something that can really help with pain relief, joint pain and even epilepsy. Stuart the gronk likes it. Its not the gronk. Its gronk. Ashley gronk. Stuart new york citys diamond district is right across the street from where im sitting right now. In our studios in new york city. We were just hit with a diamond heist. Looks like it was straight out of a movie. Millions of dollars, stolen. Police obviously looking for the crooks. You will see the heist. We have it on tape. You will see it in just a moment. First, judge jeanine is out front slamming the democrats in her new book. She says the left is trying to remake america and they are still not over President Trump winning the election. She makes her case next. Liberty mutual customizes your car insurance, so you only pay for what you need. I wish i could shake your hand. Granted. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Stuart thats what it says. Im supposed to say that. Kanye west, diamonds, the song, sound track fit for the next story. Bigtime diamond heist right here in new york city. Close to us, actually. Deirdre . Deirdre yeah, it was a wild, wild west right here in midtown. We actually have video to show you. You might see one of the accused bandits who actually had a cowboy hat on. There is that person. So three Armed Bandits at the very least, basically tied up workers, put them in kind of a back room and made off with a lot of diamonds. So the authorities are still looking for the perpetrators, the alleged thieves. 2014, by the way, the same store actually suffered a breakin as well. 53,000 stolen. Stuart you have to say alleged when they have three guys ripping off a couple of guys in a Diamond Store . Deirdre we dont know their identity. Stuart allegedly they took some diamonds. In broad daylight. Deirdre around noon on sunday, 47th street. Stuart highly unusual in the wellguarded diamond district. Deirdre i was just going to say, the surveillance camera and all the footage is hopefully going to help. Stuart lets let the judge make an official entry to this show. She made a temporary appearance, reading my script. Our next guest says the left, the socialists on the left have got a mrplot to remake america because they are still ticked off the president won the election in 16. The book is titled radicals, resistance and revenge by none other than the lefts plot to remake america, she points out to me. Youve got some nerve. You really do. Thats why were on television. Talk about that heist. Nou wh you know what amazes me . Its right down the street. When i came in yesterday, there were cops all over the place. It was buzzing. This store was open on a sunday which is very unusual. There arent a lot of people. You can actually park your car on 47th street. They can be waiting for you, you can jump in the car and take off but they are very brazen. You can see the face. Sure, hes probably got a wig on, probably got a hat on. We now know how tall he is based upon the comparison of him to the cabinets. The other guy we see, we are going to get these guys. Make no mistake. Anyway, thats my Law Enforcement talking. I love that stuff. Stuart i should say the alleged thieves. I should, shouldnt i . Theyre thieves. Not alleged. Once we get their names, theyre the alleged thieves. Alleged johnny jones. But they are thieves, period. Take it from me. Stuart i will take it from you. Now lets talk about my book. Stuart wait a second. I agree with you. Because all this stuff we are getting from the left, the name calling, the undermining, all the rest of it, i think its because they just cant get over the loss of the election to donald trump. Thats motivating them. Whats the word . Stuart revenge. Thats exactly what it is. Their hissy fit has turned into revenge. They have resisted everything hes done. They are radicals. This is far beyond barack obama. These are people who want to upend the constitution, the bill of rights. You are no longer presumed innocent if you are a candidate or nominee for the United States supreme court. You are no longer allowed to be believed that you are a man. Listen, a United States senator, hirono from hawaii, i dont know where this woman got educated but all women need to be believed. I ran a d. A. s office. I believe a lot of women. I fought for women. But not every woman needs to be believed. Theres a judgment we all make all the time in terms of prosecuting but more than that, they got to the point where their remaking america is opening the border which is allowing 90 of the heroin to come into this country. The sanctuary cities are allowing illegals and im not talking about the chambermaid or the guy who is mowing your lawn, illegals who are criminals to be in a city where american citizens are at risk. They are now talking about someone giving birth to a child. What about life, liberty and the pursuit of happiness . No. If im a mother, i give birth to a fullterm baby and that baby is born and born alive, she can give the thumbs up or the thumbs down like an emperor in the roman coliseum as to whether or not that baby lives. Thats what ralph northam, that bozo from north carolina, who admitted he was a whackface, the governor and then said it wasnt him. Hes still in the governors mansion. Stuart virginia. Virginia. Care phful how you use those wo. Which words . Stuart im not going to repeat it. Heres the bottom line. They are remaking this country. Millenials are learning things differently. They think socialism is good and capitalism is bad. So its the economics, it is the its the verbiage. You are not allowed to speak. In san francisco, they have got human feces, dirty needles, People Living on the streets, tent city, and they say so what should we do . Lets change the lingo. Now a convicted felon is someone who is a formerly someone justiceinvolved person. A jip. The only jip is on the rest of us. Stuart hold on a second. When can i catch more of you on the Fox News Channel . Well, tomorrow, i will be on fox friends in the morning but my show every saturday night. Stuart you are up real early . I love to work. I do. Thats why i wrote this book. With the first book, it was about the department of justice and the fbi. And the corruption at the top. This is a step back where i look at america and i say its the whole thing they are trying to change, not just the justice system. Shame on them. Stuart you have given me a free copy, autographed it. Inscribed, not autographed. Seriously, judge, love your writing. Love your show. Thank you very much for being with us. I love hiveng to ylistening. I love your accent. Stuart im an american. The president will be tweeting about you any moment. Thank you, judge. Now this. Our next guest says the economy to get the economy really going, to get it really going, we need more tax cuts. Who said that . Scott walker. Hes next. From the couldnt be prouders to the wait did we just winners. Everyone uses their phone differently. Thats why Xfinity Mobile lets you design your own data. Now you can share it between lines. Mix with unlimited, and switch it up at anytime so you only pay for what you need. Its a different kind of Wireless Network designed to save you money. Save up to 400 a year on your wireless bill. Plus get 250 back when you buy a new samsung note. Click, call or visit a store today. Its tsleep numberbiggest sale360 smart bed. N the you can adjust your comfort on both sides your sleep number setting. Can it help us fall asleep faster . Yes, by gently warming your feet. But can it help keep us asleep . Absolutely, it intelligently senses your movements and automatically adjusts to keep you both effortlessly comfortable. So you can really promise better sleep. Not promise. Prove. And now, all beds are on sale save 50 on the 360 sleep Number Limited Edition smart bed. Plus 0 interest for 24 months on all beds. Only for a limited time. Stuart the white house is engulfed in a will they or wont they over a payroll tax cut. Our next guest says we need some kind of tax cut to kickstart the economy. Look whos here. Scott walker, former wisconsin governor. Governor, lets be honest here, sir, youre not going to get any kind of tax cut before the next election, are you . No, but i think its worth pushing out there. I mean, its one of those where we found in wisconsin, we cut taxes by over 8 billion and we have seen more people working than ever before in the history of the state and, and get this, we had a Budget Surplus every year we were in office, all eight years created a Budget Surplus, why, because when you put more money back in the hands of the hardworking people in your state and the country, they put it right back in the economy. Stuart it works, clearly. Im wondering how on earth you get one in the immediate future to kickstart the economy. But i really want to move on to a much more important subject, and thats wisconsin. A dairy state which leads the nation in farm bankruptcies. I didnt know that until i read the notes here. Now, a dairy state in that kind of trouble . Whats the problem . Well, its been a number of issues and its been true for the last few years. Part of its just the simple fact that wisconsin has one of the highest percentages of very small farms, so over the last decade, they have had some real challenges. But you also see it ties into this trade debate. A couple years ago i made the point to President Trump and he really held out on this trade deal with canada and mexico until they fixed this. Under nafta right now, particularly in ontario but all throughout canada, they put in place price controls, they give an unfair advantage to canadian Dairy Farmers over, say, wisconsin or other Dairy Farmers across the United States. Thats one of the things thats in this new trade deal and thats why i really hope for that and a whole bunch of other reasons, Speaker Pelosi will allow the house to bring the bill up hopefully within the next month, because Dairy Farmers not only in wisconsin but across the nation need the new better trade deal we get with canada and mexico once they pass that. Stuart so the fix for Dairy Farmers is in the usmca which replaces nafta. Its in there already . Exactly. Its a big part of it, because if you look at wisconsin and you look other places but particularly wisconsin, the price of milk has been a big challenge. Part of that right now is the fact, in fact, we had a few years ago a number of dairy farms went out specifically because they were previously providing whats called ultrafiltered milk, a special kind of milk, to folks related to canada. They cut that off because the price controls pushed the price down in canada and that had an ill effect on Dairy Farmers right here in wisconsin. Stuart what about almond milk and coconut milk and the other kind of milks that are out there, plantbased, nothing to do with a dairy farm, they are a real challenge, arent they . They are a challenge. The other big challenge, particularly for millenials, i have two of my own, 25 and a 24yearold, is fewer and fewer young people are eating cereal in the morning and that has an impact on dairy farms. As odd as that sounds, its actually a fact out there. We need more people eating cereal. That will help certainly Dairy Farmers. Eat more cheese. All those things help along the way but in a Global Market where milk prices are down its a big challenge when youve got any state, particularly the dairy state like wisconsin. The good news is we are going to get this trade deal passed. We are going to get other trade deals passed. And those will all help farmers not only in wisconsin but across the country. Stuart it will be great to see that. Scott walker, former governor of the great state of wisconsin, thanks for joining us, sir. See you again soon, promise. Thanks, stuart. Stuart take a look at papa johns pizza operation. The stock is up nearly 7 . They named arbys president robert lynch as their new ceo, and this is a pizza chain, theyve got a partnership with the nba star, shaquille oneal, and by the way, shaq will be on this program tomorrow. Deirdre hes probably going to have to duck coming into some of our rooms here. He is a tall guy. Ashley like 72. Will he be in studio . Stuart hes in the studio . Yes, hes in the studio. He will be sitting right there. Ashley wow. Stuart we will have a special set built. Theres a man who has made a great impact in the commercial world. Ashley he has. Stuart hes done commercials for a lot of different companies. Always good. They are quality commercials. Ashley got a good sense of humor. Which always helps. Deirdre we have to line up some electronic dance music. Thats his fave. Not kidding. Stuart okay. Dont expect me or ashley to be dancing here. All right. Ashley dont tempt me. Stuart youre not going to be tempted. More varney after this. Stuart now we have a couple of guys with british accents will talk about the queen of england. Why . Because she complained about President Trumps helicopter. Ashley im not amused. Queen victoria was never amused. Now the queen is never amissed. President trump landed twice during the state visit and it left big divots and ruined my lawn. She was joking to the australian pm. I think ruined her grass but i, it doesnt seem like she was legitimately annoyed. I dont know, you guys have the insight. Stuart no, we dont. I dont think she was that annoyed. Ashley she has enough money to fix it. Stuart he didnt land onc the flowers. He landed on the lawn neil, take it away. Neil were selling off here. What is very interesting about the developments. This is tick by tick based on trade. We have abusive relationship on trade issues. Any whisperings show things looking positive in that direction stocks go up. Any musings from the president , temper tantrums, stocks go down. We have to get over this. Were not getting over this. Were on top of this. Were on top of Interest Rates sliding. Markets are convinced the latest impasse chinese calling into question the statement that the president made that