Transcripts For FBC Varney Company 20240713

Goldman sachs talking up a Strong Economy for 2020. Jpmorgan talking up another market rally next year. And our longterm guest is again talking about a market melt up. Look what we have right now. We will open the dow slightly lower, maybe 40 points down, but the s p is going to go up a fraction and the nasdaq is going to go up about a quarter of 1 percent. Now this, the down side of Americas Energy independence. We are producing so much oil and gas that chevron has had to write down its shale assets to the tune of 10 billion dollars. We are energy independent, that is good, and gas is cheap and getting cheaper, and thats very good, yes, it is, another trump win. Big show as usual. Varney company is about to begin. Im not sure about that animation right there. It is kind of wrong, but i believe weve got a sound bite for you. Are we going to play that one . Yes. There was and never has been any evidence of collusion, and yet this campaign and the president S Administration has been dominated by this investigation into what turns out to be completely baseless. Stuart strong stuff there from william barr, attorney general, talking about impeachment. Now the president , he also had something to say about it at his keep America Great rally in pennsylvania last night. Roll that tape. And the reason they announced it on the same day, one hour later, they announced impeachment they announced impeachment and then an hour later, she announced that shes going to do usmca. You know why . It is a huge deal and it plays down the impeachment because they are embarrassed by the impeachment and our poll numbers have gone through the roof because of her stupid impeachment. Stuart we need to talk about this i do declare. Here is liz peek, columnist from foxnews. Com. Political madness the president called it. Go on, have at it. I think hes completely right. Look the democrats failed to make their case. This has to be the saddest little impeachment ever. They had two articles of impeachment that they could agree on because they have not any facts for any kind of more powerful or robust case. I think the democrats are wanting to get this done, get it beyond the cameras and get out of town as quickly as possible. And that says a great deal. It says among other things, that the republicans have done a very good job of highlighting the unfairness of the process, the weakness of the evidence. One of the charges by the way is abuse of congress, which i have to say most americans would probably applaud, but in any case, abuse of congress because there is no way they could say im sorry obstruction of congress. They couldnt claim obstruction of justice because Congress Democrats didnt want to pursue the witnesses and go through the Court Procedures necessary to actually build a body of evidence. What does that tell you . They are scared to death of this entire proceeding. You can see it on Nancy Pelosis face yesterday and you could see it by who she had next to her. She had people who are very safe democrat districts, Carol Maloney from the Upper East Side of new york, she is not in jeopardy because of impeachment. There are probably 30 or so democrats who are in jeopardy. Stuart that leads me to my next point. There are reports that ten moderate democrats, maybe out of 31, from trumpleading districts, they want censure as opposed to impeachment. That could mean nancy pelosi does not get the votes for impeachment that she wants. Although she wouldnt go into a vote knowing she didnt have the votes. They are not there yet. They are going to be marking this up the next two days apparently. And theres been considerable speculation and i will call it speculation, though i think it may be true, that shes been trading votes on usmca for those with those people who are reluctant impeachment votes. So, you know, she will get the votes, im quite sure but shes had to do some armtwisting to get there. In those trump districts people are saying wait a minute. The most telling polls recently are not the quinnipiac it is in key swing states including ohio and pennsylvania where trump beats every one of his opponents. Stuart i saw that. It is a big deal. It is a big deal. It wasnt the case a month ago. Michigan, ohio and pennsylvania. Stuart headtohead against all challengers, he wins. Exactly, that is bad news for democrats. Stuart it sure is. Great to have you on the show. Thank you. Stuart liz, thank you very much indeed. Lets get to the market, please. Were in a bit of a Holding Pattern right now because theres a fed announcement coming up today, although pretty much were sure exactly what they are going to say. And there is of course the threat of tariffs holding over us on sunday, but otherwise, apart from that, the bulls are on the loose. Goldman sachs says the economy ready to take off again. Jpmorgan says the s p will rally 8 next year. And our next guest says no, it will go up 10 . Come on in our longterm guest. Okay, so youre looking for a meltup at the end of the year . Not quite by the end of the year, stu, but i think certainly into the First Quarter. Im looking for a rise of both the dow, the s p, and the nasdaq of about 10 . I dont think its going to take all year in 2020 to see that. I think the First Quarter is going to prove very positive for stocks. I think the fundamentals are there. Theres nowhere else to put your money. Yields are incredibly low across the board in terms of fixed income. The United States economy is doing absolutely perfectly well. The trend is beautiful, close to 2 to 3 percent. And i think it is going to do better in the First Quarter. The Fourth Quarter is the best quarter of the year, in terms of sales, in terms of consumer spending. I think were going to see some good numbers, in spite of the fact we have six fewer days between thanksgiving and christmas, i think we will see robust numbers. I think the market will love that. Theres nothing but blue skies. I dont see any impediments. Stuart you have been saying this ever since you went on our show when we started this show what is it seven or eight years ago you have been on as a regular and i think you have always said watch out this market especially in the trump era is just going to keep on going up. Are you as surprised about this long long rally as i am . No, im really not. And again, ive been saying and calling for the market to continue to go higher. I do get cautious at times when i see the market go a little sideways and looks like it wants to go down because there are pressures on it, such as, the recession narrative kind of spooks investors, maybe consumers. I think the market and consumers are over that false narrative and were back on track moving forward. Consumers are back moving forward and spending and investors are coming back into the market. That means theres plenty of fuel in the market. Theres a lot of people on the side lines, a lot of Institutional Investors on the side lines. So much dry powder to drive stocks higher that it is probably about 1. 2 to 1. 5 trillion dollars worth of money on the side lines. We have that behind us. We have positive Economic News behind us. The impeachment is an absolute nonevent for investors. It is a mere side show. And the market again has nothing else to do, nowhere else to go but up. Stuart wow, okay. Stay there, please, because i know you have something to say about microsoft in a moment. I want to hear that, okay. Lets get to Americas Energy independence. We have achieved it. But that is actually hitting the bottom line of a company like dow component chevron. Its writing down the value of its shale assets by about, what, 10 billion dollars. Grady trimble in chicago with us now. They are doing this because we are swimming in oil and gas, thats right, isnt it . Exactly. There is so much gas right now, which is driving prices down, good for you and me, but bad for these oil energy companies. And so as a result, this gas glut, its particularly pronounced in north america, so chevron announced that it plans to sell assets in natural gas operations in Appalachian Region as well as assets in canada. Its book value is in in other words higher than its market value, so thats why they are having the 10 billion dollars writedown, which would be one of the largest ever in the energy sector. And of course, chevron as a result is down in premarket trading. Stuart . Stuart it is a glut, grady, thank you very much. Couple of individual stocks, the head of the faa just saying that the 737 max jet will be recertified for air this calendar will not, will not, be recertified for air this calendar year. He just said that. The market shows boeing down 5 bucks. Peloton shares were down again after a down day yesterday. Theyre down premarket. The short seller, he says that stock is going down to 5 a share. Thats quite a headline. The stock is down this morning. Googles deal to buy fitbit getting a closer look from the Justice Department. Do you want google to have your health and fitness information . Thats the question were going to ask all day long. And now look at game stocks. Cue the music. After it cut its forecast, weak demands for game consoles, consumers shifted to downloading games, that stock is down nearly 20 premarket. Heres a winner, come back well, yeah, here it is, there it is. The trumpets are worthwhile. Come on in shah because youre telling us to my great delight that microsoft is the stock of the decade. Make your case, please. Stu, i remember when we met i think seven eight years ago, you asked me off camera what i thought of microsoft. I think it was around 27, 28 dollars and i said it is going to 35 which would be about 25 gain. You looked at me and say how could a stock that big move that much . And i said its got nothing to do with the actual size of the company. It has to do with the growth potential. The fundamentals of microsoft have always been solid. When they went to 35, you asked me again, i said it is going to 50. You asked me how. I said because i think theres going to be a Management Change. I had been waiting for a Management Change for sometime. I was not a fan of [inaudible] great guy i thought he was more of a shepherd of the stock and the company a gatekeeper if you will for his own personal wealth. This is exactly what the company needed. It was moved hard and fast in the direction it needed to go. What have we seen since then . We have seen megagrowth. This big cap company that was considered to be old tech is now a growth stock again. Its been a growth stock for the last five, six years. It is going to continue to be a growth stock. It is hitting it out of the park, making new highs all the time. It has a ton of cash. Its in all of the right areas of technology. Stuart i hate to cut you off because i would love to let you keep going on this one because it is very much in my interest. [laughter] stuart by the way, we celebrate our tenth anniversary in the third week of january. Shah gilani has been with us from the very start. How about that. Shah, thank you very much indeed, sir. Thank you stuart. Stuart check futures, down a little on the dow at the opening bell but up slightly on the s p and up slightly on the nasdaq. Michael bloomberg coming out swinging against far left democrats. He says they dont have a chance of beating the president. Is this going to be a billionaires race then . We have ron paul on that question in our 11 00 hour. Some House Democrats [inaudible] how about that, democrats rushing to help the rich. Were going to see what our guest thinks of it. The bulls yes they are on the loose. Jpmorgan sees the market rallying. Goldman loves the economy. All that for next year. How bullish is art lapper . We will be asking him after this. Im your 70lb st. Bernard puppy, and my lack of impulse control, is about to become your problem. Ahh no, come on. I saw you eating poop earlier. Hey my focus is on the road, and thats saving me cash with drivewise. Whos the dummy now . Whoof whoof so get allstate where good drivers save 40 for avoiding mayhem, like me. Sorry hes a baby most people think as a reliable phone company. But to businesses, were a reliable partner. 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Yes, slicing it to just around a range of 3 1 2 to maybe 4 percent. The market was looking for something closer to 4. 3 percent. Today is analyst day so i guess home depot wanted to get ahead of the news. Last time around, last earnings quarter, they missed on sales and on revenue, profits. However, in terms of how much people spend per bill, when they walk into home depot was higher then a year ago. This is a stock that could do no wrong for a while. It is down, though and declining this month by 2 . Stuart as you say it is analyst day. What is with apple this morning . Is it up or down . Its up. There is a positive analyst call on apple. What do we have on that, gerri willis . We see a really good Holiday Quarter for the company, the price target is getting boosted to 305. The stock is only trading as i looked at it a moment ago at 268. A big bump there. B of a also raising its price target on the stock. Evercore says we believe the air pods pro iphone 11 are going to boost holiday sales tremendously. Revenue growth will be 6 in the quarter. Remember last year this time we were talking about what a loser stock apple was and how they could never grow the services idea, what nonsense that was. They are up 70 this year. 70 this year. Back to you. Stuart 70 , thats big. Even i can acknowledge that one. Thanks. Goldman sachs says the economy will accelerate again next year. Jpmorgan says the s p will go up 8 next year. Former reagan economist art lapper with us now. First of all, deal with the economy. How bullish are you . What rate of growth do we get for the economy next year . You know, i think were growing at a right rate, 2 1 2, 3 percent would be great for next year. I think thats really reasonable and can be done. Youre coming up on the cusp of your tenth anniversary. I mean, look at the record you have had, stuart. Right when you started, now you have created this huge prosperity. I have been with you all the way too. [laughter] stuart yes, you have. We thank you for that. [laughter] stuart okay, 2 1 2 i love it. Stuart 2 1 2, 3 percent growth for the economy next year, thats strong. How about jpmorgan saying the s p will be up 8 . The market rallies again next year. Are you with that . You know, im much less im much less confident on my forecast of the stock prices than i am of the gdp. But yeah, i think 8 is reasonable. I think the stock market has been up so much since trump took office, and you know, when you look at the history of all of this, stuart, it is so nice to look at it in retrospect because you have none of the uncertainties of living daytoday, hour by hour, you know, but looking at the economy from the future perspective, i think the trump era will be seen as one of the greatest periods of prosperity in u. S. History, including the stock market, including real gdp growth, including employment, including the drop in the Unemployment Rate, including all of these wonderful things that have been happening. When you are at the end of the boom, when you have been in a boom for five years, it is much harder to squeeze out higher growth rates than it is right at the trough, you know, which obama got in there in 2009, but trump is doing an amazing job of continuing this prosperity. Its really difficult to do. Stuart right. We have usmca on the table. Here it comes. Can you quantify how good it is for americas economy . I think usmca is good for the american economy. I dont think it is going to be a huge like percentage change, but i think usmca sets the table for the deal with china, for the deal with japan, south korea, europe, and then if Boris Johnson wins in england, if that happens, then we could have a really Free Trade Agreement with england, and that would be absolutely that would really move the needle. All of those combined would move the needle a great deal. China as i have said on this show i think a number of times 3, 4,000 points on the dow. Stuart wow, okay. Im glad you are with us in the first 20 minutes of the show today because thats a really very positive outlook, and we just love it. Art laffer, thanks for being with us all these years. Dont be a stranger in the future. Okay . I wont be. Im here for you every day if you want me. Stuart you are a good man. Thanks, art. Have a good day. Stuart i will. Britains general election is tomorrow. Boris johnson headtohead with Jeremy Corbin, hes a socialist. Johnson is not. Ashley webster is over in london for us. Boris is going to win, isnt he . Come on, ashley, no hedging here. Boris is going to win, isnt he . Ashley no hedging. He is going to win, although everyones getting a bit of here, because the polls are tightening. He has a 9 lead, stu. Hes going to win we think somewhere around 26 seats but they have to vote tomorrow of course. The margin of victory could be more than that. But just very quickly, the difference between johnson and corbin, compared to donald trump and Elizabeth Warren and sanders, it is a grand canyonsized difference. Boris johnson a capitalist, free enterprise, low tax, low regulations. Jeremy corbin, you think that bernie is to the left, Jeremy Corbin is halfway to moscow, he would nationalize everything. Give much more power to the unions, it is the 70s u. K. , we know how that worked out. It was miserable. Stuart that was when i left, as a matter of fact. Ashley, well be back with you soon. I want to try and see if we can get that shot of Boris Johnson driving a tractor through a brexit wall. It was really cool. We will get that soon. Thanks, ashley. Look at futures, please. Down for the dow. Maybe theres a couple of dow components which are bringing that indicator down, like boeing, for example. But the s p is going to be up and the nasdaq also going to be up. Peloton stock, its down. Thats premarket. It is down, in part because of the outcry over that holiday commercial, but weve got a rising competitor. Uhhuh. Stuart on your screen. It is called the echelon bike. Its a fraction of the cost of peloton. The ceo is on the show this morning. In our 11 00 hour. Do we have somebody riding that thing . I think we do. It looks fantastic doing it. Stuart okay, we will be back. May your holidays glow bright and all your dreams take flight. Lease the c 300 sedan for just 399 a month at the mercedesbenz winter event. Hurry in today. shaq chime magenta . 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Now, according to ubs, if they do go ahead with the plantbased burger plt plant lettuce tomato thats currently testing in Ontario Canada right now. Would be worth about 150 million, so maybe 300 Million Dollars in sales. Thats pretty good. We have beyond being sold in 23,000 restaurants across the country. And they say that this is pretty good because in the future, on the menus of all these fastfood chains, it could represent 5 to 10 percent for plant based burgers in the future. Stuart what stood out for me was the plt as opposed to the blt. Thats the point. Stuart was it, plant lettuce tomato . Yes. Stuart i want one maybe. Breaking news here on huawei. Whats this, an update on the courts this is the lady who was the daughter, cfo of huawei. She was detained in canada while trying to board a plane in vancouver. The news is right now shes in the midst of extradition trials in canada. The u. S. Wants her extradited here to the u. S. To face a judge. The lawyers have sought to prove that the u. S. And canada conspired to wrongfully detain question and arrest the huawei cfo. It looks like the judge says they have found the claims to have an air of reality. They have ordered the attorney general to turn over all documents related to the arrest. This could be a delay. This may have an impact on the findings, but traditionally, canada has sided with the u. S. In these extradition cases in 75 of them. Stuart okay. It is the worlds biggest ipo, saudi aramco went public with a value around 1. 8 trillion dollars. Grady trimble, you have precisely 30 seconds to make me care about this. Stuart, this is the biggest ipo ever at 25. 6 billion dollars and now saudi aramca is officially the most valuable publicly traded company ever at 1. 88 trillion dollars, which is awfully close to the crown princes target valuation of 2 trillion dollars. Aramcos stock surged immediately on the Saudi Exchange opening up 10 and hitting 9. 39 per share. Investors holding on to their shares with turnovers low, and american investors and western investors have really steered clear of this stock saying it is overvalued, but the question is, will this strong ipo change their mind . Stuart . Stuart i care because saudi aramco is worth more than apple and microsoft. Its another trillion dollars company. Thats why i care. Okay . 18 seconds to go, and the market opens this wednesday morning. The bulls are running. We might see the s p go up. Might see the nasdaq go up. Technology is doing just fine and dandy. We will probably see the dow go down at the opening bell. I suspect thats because of boeing, in part at least because of boeing. Here we go. Were off running 9 30 on a wednesday morning. Where are we running to . Well, its a split decision on the big board at the moment. Look at the dow 30, about half up, about half down. The dow opened with a 27 point loss 40 points down as we speak. Thats the dow. Look at the s p, please. Im pretty sure thats on the upside, yes, it is, but only just 3 points higher. Now check the nasdaq, i think thats up nicely so, yes, it is. Not bad. 15 points up. That is. 18 . Joining us this morning mike murphy and of course susan lee is here. All right, mike, here we go. Bullish calls on the economy from goldman sachs. A bullish call on the market from jpmorgan. Our own shah gilani says were going up in the next year, 2020. The bulls are running. Are you with them . Im with them. I have been with them. We have talked about this all year. The backdrop, the economy in the United States is doing great, as good as we could expect at this point in the cycle, so you want to be invested. Stay invested. There will be ups and downs. Instead of trying to time those, stuart, stay long the u. S. Stuart everybody thinks the rates are not going up, they are not going down. They have cut a quarter point for the last three meetings, and people are expecting them to hold steady. Whats important is their forecast for the next year and what they plan to do with monetary policy. Most people expect them to not do much, but there is no inflation. I think that was proved this morning once again with the latest Inflation Numbers and the dollar is holding steady. Stuart i missed that. On your screen boeing and home depot both dow stocks i believe thats why the dow industrials overall are down. Boeing is down 7 points. Home depot is down 4. That accounts for i think 57, 58 points off the dow industrials. So without those two stocks, the dow would be dead flat. And thats the whole drop in the dow, but look at boeing. Boeings been a good trading stock, been in this range, stuart, from 330, 340 range, getting back up to 370, 375, for any traders watching at home. Stuart you buy it at 340, you run it up to 360, sell it and people like me jump in and we lose our shirts. Do you want to be on this show for the next ten years . Sure, lets do it. Stuart sure. I was going to Say Something about home depot, again, three weeks after cutting its 2019 sales forecast, doing it again for 2020, and people are concerned that maybe the slowdown and the weakness in the Housing Market is finally hitting home depot because for a while, this was a stock that could do no wrong. Stuart i have an article out of barrons magazine that says disneys mojo lies with its parks and not necessarily with its streaming service. Baby yoda was in the teleprompter. Stuart if i say that one more time. We love it. [laughter] parks is a big revenue driver right now, and they say it is the forgotten piece of the walt disney success, and the stock is rocketing this year. And it contributes parks by the way contribute to about 6 3 4 billion dollars to its earnings. The tv units remember with e spn, abc network was the long time sales driver, bringing in 7 1 2. What basically wall street is saying that in the future parks will be one of the biggest money makers for disney, 10 billion dollars expected in 2024, whi which heres the thing, streaming for disney, the new Disney Plus Streaming Service is huge for the stock, not only because people will be using it but that will now as your kids are watching these programs on streaming, they will now go to the parks. And then when they are in the parks, they will want to buy the merchandise. It is a nice circle that disney has going. Stuart it is an ecosystem. It is an e ecosystem, the question was on disney, do people care about mickey mouse . Will the new kids care about that . They have so many programs out there that the new generation does love them. Even though its had a nice run, it is a great stock. Stuart wait, you are telling me that maybe kids dont care so much about mickey mouse who came along in the 30s, but they will care about baby yoda. Youre saying that on this program . No, nothing to do with yoda. It is the superheroes. A quick note here Credit Suisse has increased their expectations for those on the subscribers for the disney tv plus subscribers, up to 20 million by the end of this year. Stuart this year . Yeah. Stuart three weeks left in the year. Yes. Stuart they are going to get 20 million subscribers . According to Credit Suisse. Stuart okay the stock is at 147 right now. Theres a headache for peloton. Somebody is betting against the stock and warning theres a lot more affordable competition coming on. Andrew thinks it is going down to 5 a share. Hes talking up his own book because hes shorting that thing. Thank you for pointing that out. It is a great company, innovative company. One of the ipos thats performed very well since they came public about six weeks ago. I think the long game for peloton is they have recurring revenue. Wall street will give that a higher multiple. I disagree respectfully with them and their short call. Stuart so do i. I think peloton is a very Interesting Company and interesting exercise bike. It is an ecosystem to some degree. Right. Stuart it will make money. Also it is more hardware. It is devices basically if you want to think about it as an exercise device and people are concerned that hey why not a techno gym could come in here and produce their own bikes and their own classes. Stuart right hand side of your screen, hidden behind the Christmas Tree, a young lady on i think it is called the echelon bike. Thats correct. Stuart the ceo of that bike company is on the show later on today. That would be lower price competition for peloton. The echelon person will be on the show in the 11 00 hour. Youve got a peloton . I do. Stuart you do, dont you . We have two pelotons. Stuart two pelotons. Two pelotons. Heres the thing, the big picture is that fitness is here to stay. So people being healthy, here to stay. The thing with peloton i think stuart is that when you pay for the peloton bike, you are very few people are then disconnecting the service. They are still then paying the 30 or 40 dollars per month. Thats a big driver. 90 retention. Stuart you are the guy who lost 30 pounds in order to run in a marathon in new york city. I did, yes. Stuart was it 30 . It was 29 to be exact. Stuart did you use the peloton . I did. I ran. I did the bike. Stuart is this a commercial for peloton in. It may be. I thought i would be riding the new bike. Stuart all right. Check out the big board, please. We are 7 minutes into the trading session. We are down only 26 points on the dow industrials, despite a big drop for boeing and home depot, which would have dragged the dow down even more. Boeing is down 7 bucks, 2 . There you have it. On capitol hill today, by the way, the faa head will testify about the 737 max, and its down 2 . American eagle weak guidance for christmas, thats because they are in the malls and people are not going to the malls very much. That stock is down 6 1 2 . Now an interesting indicator, the tenyear treasury, i say this every day, holding right there at 1. 82 . Kind of neutral. Uhhuh. Stuart how about the price of gold . Still well below 1500, 1471. How about the price of oil . The opec meeting is over. 59 a barrel. Now look at game stock. Cue the death watch music. It is looking grim. Weak demand for game consoles. Consumers shifting to digital down loads. The stock down nearly 16 . Were we right to put it on death watch . Mike . I think yes we were. As you know, stuart we invest in Early Stage Companies through our Venture Capital funds, technology has changed the way kids are playing the games. They are down loading the games. They no longer need to walk into a game stop. If they dont innovate or find a new way to drive traffic into the stores, you are right to have it in death watch. Stuart i remember the first person who had come up to me, this is maybe 30 years ago and said are you surfing the net . And i didnt know what she was talking about. No idea. Stuart this was mid 90s. Thats when i was zbintroduced i still dont know what it is all about. My own problem, isnt it . Googles deal to buy fit bit getting a closer look from the Justice Department whats with that, susan . The doj which was interesting they are taking a closer look at this 2. 1 billion dollars fitbit acquisition and actually taking control from the ftc, which usually looks into these googlerelated issues initially. And this is about privacy, your health data, since we know theres an antitrust case the doj is also looking into as well, whether or not google has way too much control over the internet search and advertising. But, you know, in this era of antitrusts and big tech under scrutiny, these billion dollars deals including a 2. 1 billion dollars deal also will get a closer look under the microscope. Stuart im not sure whether i want them to have a look at my personal medical. Thats another story. I want to thank mike murphy for bringing some viewers in who are joining us from california. We cant get the camera on them. We do have a studio audience today. These folks are from california. They watch this program. They watch it regularly. They are huge fans of the Varney Company show. Stuart in california . In california. Theres a lot of them out there, stuart. You dont hear about them often. We will bring more back next time. Stuart i want a crowd of california viewers. I want the bleachers full of california viewers. We can make that stuart thats a revelation. Thank you very much, murphy. I think you are all right. Thank you. Stuart we are down a mere 26 points on the dow industrials. Theres this, a record contract with the yankees. Were going to tell you how much hes got coming at him in the next hour. Students are suing the university of california to drop the sat and the act. They say standardized test scores discriminate against low income students. Do they have a case . I will ask the judge. And President Trump says usmca is the Silver Lining to the democrats impeachment push. Arizona congressman andy biggs reacts to that next. But you dont feel good. With polycythemia vera, pv, symptoms can change so slowly over time you might not notice. But new or changing symptoms can mean your pv is changing. Lets change the way we see pv. You track and discuss blood counts with your doctor. But its just as vital to discuss changing symptoms as well. Take notice and take action. Discuss counts and symptoms with your doctor. Visit takeactionpv. Com start your next chapter with a legend. Give her an Engagement Ring that says, our love is legendary. Our love is a diamond. The Marilyn Monroe collection of fine jewellery. Exclusively at zales, the diamonds are a girls best friend store. Can you tell me the story again . Every family has their own unique story. Give your family the chance to discover theirs this holiday season, with ancestry. Think of it this way also, the Silver Lining of impeachment and this witch hunt, thats the reason they approved usmca, so thats okay with me because they approved it, and theyre very happy to have it. Stuart that was the president at the rally last night in pennsylvania, battleground state. He really let them have it. Come on in, that was in pennsylvania. Come on in andy biggs, the gentleman on the far right of your screen. Andy, before we discuss what the president had to say about impeachment, let me throw this at you, im hearing reports that there are up to 10 moderate democrats in the house who dont want to impeach, wont vote for impeachment, but would go for censure. That would break Nancy Pelosis lock on the vote. Yeah, and im hearing that too, stuart. In fact, the number i heard yesterday was 8. By last night i heard it was somewhere between 10 and 12. The idea for censure is kind of picking up steam. I dont think there should be a censure. I dont think there should be impeachment, but you know what . It really will show the Political Force behind the impeachment rather than actual wrongdoing. Stuart i think it is fading, andy. Yes. Stuart i can point to some headtohead polls, and i think it is ohio and wisconsin and pennsylvania, im not seeing any polls on polling on the impeachment, but i do suspect that the public is not really going for this. Thats exactly right. You see it particularly in wisconsin, michigan, pennsylvania, those battleground states, youre seeing it in the 31 districts that where you have these people who are the moderates, who said they would be moderate, but they came out and havent been so moderate. They have done everything the leadership wants them to. The result is they are in danger if they vote for impeachment, they are in danger of losing that seat all together. But at the same time, the left the far left of the democrats are running primaries against some of those people, so they are kind of caught in this box, and thats why you may not get 31 to break, but you might see i think 10 to 15 right now the number looks to be 10 to 12. Stuart i have to go back to one of these articles of impeachment, and that is obstruction of congress. That seems to me to be so thin, so weak. You charge impeachment on the grounds that the president wouldnt allow some members of the administration to appear before congress, so you impeach him . That is simply weak in the extreme. Oh, yeah, this is the thinnest ever but i will tell you why it is so weak. They had access to process when i say they, i mean the democrats. If they thought they were depositions were correct, if they thought the president had wrongfully exercised privilege, they could go to the third branch, and the third branch would have said well this subpoena is dubious, this one is not. The privilege is dubious, or they could have limited the privilege. They didnt do any of that. Instead they said and adam schiff said this, he said were in too big of a hurry to go to court. That is a real problem, and its unconstitutional. Stuart now, in the face of impeachment, Speaker Pelosi is going to allow a vote on usmca. Do you think she will go further with a vote on legislation for prescription drugs . I mean, try to give back what shes taken away with impeachment . Shes going to today you will see a vote on giving amnesty ag worker bill. You will see usmca probably next week. You are going to see probably hr 3, which is the drug bill. You should see that my guess is you will see that before we get out of here next weekend. Plus you are going to see a spending bill. Shes going to try to say that they can do multiple things at once. Dont forget, shes trying to take credit for usmca. The only reason she held it up for 13 months is because she didnt want President Trump to get a political victory, and now shes trying to use this as a lever to kind of rehabilitate the democrats, and the only thing the democrats did to this bill was make it worse, with usmca. Anything they got in there made usmca worse for america, and they did that for political purposes. Stuart andy biggs, thanks for being with us on a very important and extremely busy day, especially for you. We appreciate it, andy. Thank you, sir. Thanks stuart. Stuart big board, down a mere 16 points. Now look at auto zone, higher sales, better profits. The stock is now in record territory. 1254 a share. In the old days stocks split. These days they dont. Check tesla, plans to increase imported model 3 prices in china. Gerri willis on the floor of the exchange. More on this please thats right. We dont know how much prices will be raised in china, but these are model 3s sold in china. Theyre producing at a shanghai factory that they started building last fall. They are hoping to produce a thousand a week there. If they continue this track today, they will have their fourth straight day of gains in the k to in the stock. Investors like this idea that prices are going up. More money for tesla, back to you. Stuart a nicelooking chart, a steady march to higher there. Good stuff. Gerri thank you very much. Facebooks very popular messaging app its whats app will soon be unavailable to million of users worldwide. Thats a big deal. 1 1 2 billion use whats app, a few hundred million will be kicked off of it because you need a newer iphone or newer android. Please tell me you have a newer iphone than an iphone 5. Stuart i do. There you go. Thats what you need. You need at least an iphone 5 or earlier. Whats app wont work on those phones anymore. It will be locked out permanently on windows phone. I dont know anyone who has a windows operated phone. Also the androids, above 4. 0 which is the Ice Cream Sandwich operating system that they launched. Stuart a couple hundred Million People need to upgrade their phone. Yes, more importantly is the encryption. We had facebook fighting with william barr on this. He wants a back route. You are shielding terrorists, pornographers, etc. , but Facebook Says were not doing that. Stuart checking the big board. Were down a mere 7, 8, 9 points, thats all weve got. Way more than half of the dow 30 are in the green. The white houses top economic guy larry kudlow has hinted that the president is working on tax cuts 2. 0. It wont happen before the next election, but were on it. Well be back. What i love most about being a scientist at 3m is that im part of a community of problem solvers. We make ideas grow. From an everyday solution. To one that can take on a bigger challenge. We are solving problems that improve lives. Most people think take as a reliable phone company. But to businesses, were a reliable partner. We Keep Companies ready for whats next. man we weave security into their business. second man virtualize their operations. woman and build ai customer experiences. second woman we also keep them ready for the next big opportunity. Like 5g. Almost all of the fortune 500 partner with us. woman when it comes to digital transformation. Verizon keeps business ready. Stuart larry kudlow talking about the president working on tax cuts 2. 0. Thats interesting. Joining us now is tax attorney bill smith. Welcome to the program. Thank you very much, stuart. Stuart heres my opinion, tax cuts 2. 0 not a prayer before the next election. In fact, there will be no tax cuts of any kind before the next election. As a tax attorney, are you with me . You are absolutely right. I guess the show is over. [laughter] stuart let me move on to the next point. Thats it . Stuart zero chance for tax cuts next year but what happens if the president wins reelection, what kind of tax cuts could we expect . The problem there is unless the house flips, all tax legislation has to start in the house by the constitution, and we have the same problem we have right now. It will be status quo. Stuart its an uphill struggle. Absolutely. Stuart tax cuts 2. 0. It is. Stuart maybe a middle class tax cut, couldnt that find some sympathy among House Democrats . Even the bills that have bipartisan support right now in the tax world are going nowhere because of the animosity. So even if you develop some sympathy on the house side, its highly unlikely that anythings going to happen. Stuart a strong firm opinion. This is pretty good from a tax guy. Okay. Now what happens if the democrats, a democrat wins in 2020 . What kind of tax increases would you expect . Well, i can tell you what tax increases would be proposed, but unless on the flip side they take the senate, nothing is going to happen. Stuart really . Okay. Because they can propose all they want, even if they have the administration, but theyre going to have to get passage through the senate, which is going to be very difficult, and theres never going to be anything where theres a veto, override, or anything like that. They have got to get it through the senate, and if they dont take the senate, regardless of what they propose, its going to die a natural death. Stuart thats fascinating. I always thought if a democrat wins, taxes go up, not necessarily so. Not necessarily. Stuart trump wins, taxes go down, not necessarily so. Good stuff. Bill smith, if you are not careful, you will be invited back. Oh no. Stuart oh, yes sir. Thanks for joining us. Thank you. Stuart lets talk about peloton in the last couple of weeks. However, another Fitness Company wants to change, trying to give peloton a run for its money, by offering a much less expensive bike, echelon. A young lady is working on it right now in our studios. We have the ceo of echelon on the show in the 11 00 hour. We have another challenger to an industry staple, Uncle Nearest premium whiskey, thats its name taking on jack daniels in the whiskey business. Can they compete with a household name . Are they better than jack . Good question. Boris johnson drives a tractor through a wall in British Election tomorrow. This is a mirror image of what were look at here in 2020. I will explain that in my take which comes your way after this. But this season, a more thrilling journey is calling. Defy the laws of human nature. At the season of audi sales event. Look, this isnt my first rodeo. 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Tax cuts, growth and prosperity versus tax hikes and recession. Okay that is my opinion, but i can back it up. Our current growth and prosperity really got rolling right after the president cut taxes and cut red tape. If any of the current crop of democrat candidates gets in, taxes go up, draconian regulations come back and the economy goes down. Thats my opinion. Every single democrat now in the race, favors higher taxes to reduce inequality and expensive regulations to combat Climate Change. Thats the choice. Capitalism versus some form of socialism, private enterprise versus all governmental the time now, the british will face a somewhat similar choice tomorrow this is Boris Johnson, a trump like figure, who this morning, drove a tractor through a wall to show how he would get brexit done. Hes the capitalist in the british race. The socialistic is Jeremy Korbin , who would nationalize whole industries, give away a lot of stuff and of course raise taxes on everybody. At this point, it looks like boris wins, even over there, socialism are well known. I hope that is a pointer for our election, next year. The second hour of Varney Company is about to begin. Capitalism versus socialism. Business versus all governmental the time. John tapper is with us ideally suited to address that issue. Do you see it shaping up like that, capitalism versus socialism, business versus all government . I do, stuart, and in my travels across the country and im in the heartland of america, very very often, people have not forgotten what it was like before these tax cuts. People have not forgotten the amount of taxes they were paying stagnant rising income levels, so peoples memories are long. The people and im going to get in trouble for saying this. The people that i see at the socialisticbased events tend to be the ones that are not really working to be honest with you stuart. Those who are engaging in the workplace today are seeing income rising, employment opportunities. Im in the Hospitality Industry were the largest employer in america other than the federal governmentment were hiring like crazy. Were not only hiring were promoting like crazy, so even with efficiencies, were surrounded by opportunity and that did not happen before these tax cuts. Stuart do people really know it yeah they do, stuart. Stuart because socialism does seem to be, you know, relatively popular free stuff is definitely popular. You really think that people remember what it was like before trump . You know, william f. Buckley once said the voter isnt done, they tend to get it right and i think this is a case of that. I think were seeing it with the impeachment hearings and trumps ratings going up while this negative pressure is on him and his brand. I think that people are smart enough to get it when were moving forward at the rate that were moving forward now, and it is, dare i say, trickling down, and we are seeing it impacting the American Family, the american worker, theyre seeing it impact the American Family and the worker. I believe the voter is smart enough to see that and is not going to take a step backwards. I just dont believe that in what i see stuart. Stuart john stay there, please ive got more stuff for you still to come. I want to look at whats going on with money this morning. Remember today is decision day from the Federal Reserve but nobody expects rates to go up or down. They are expecting it to stay right where they are, and the forecast for next year is going to be more important. I want to bring in market watch er jim awod whose with us this morning jim welcome back. Thank you, my pleasure. Stuart weve got all kinds of bullish sentiment being expressed, jpmorgan, goldman sachs, some of our own people on the show looking towards a very good year in 2020 but i think youre beginning to, youve got that look on your face, are you getting a little cautious . No what im saying sia degree with the bulls. We are in good shape. The economy appears to be re accelerating and the fed is on hold, valuations are such that if profits go up and i expect them to go up stocks can go up with profits. We have a clear runway and the impeachment issue is going to come and go and well have a very good first half in 2020. I think some time around the summer of 2020, it would be a time to pause and take a look and what i want to look at is if the economy is reaccelerating here are we looking at increasing Interest Rates at that point, whose the democratic nominee, what does the economy look like, what are the chances of a left wing democrat getting elected, so all im saying is i expect a very good run here, and then rather than just put on blindfolders set a marker and say some time between memorial day and labor day, i want to take a look at the critical variables that are in stake and if the economy is good, if inflation stays low, and the fed remains on hold, and it looks like the elections are not going to be a disaster the market willpower through it. If something happens, they always say the voters vote based on their last 30 days of economic experience and anything could happen, i would say the odds are good but that would be a good time to reassess. Stuart i just kind it astonishing theres only two weeks left in the decade. Well technically, i guess the decade doesnt end until next december 31, but look, were in 2019. Were sitting on, i think its now a 10 year bull market run . Yes. Stuart i find that absolutely incredible and weve got folks like you, market professionals saying it aint over. Its not over. You know what you have to watch. Youve got to watch the triple c credit market to make sure that they stay stable so the credit markets continue to fund growth. We know we have a federal deficit thats too big and any rise in Interest Rates would create a problem. We know what could go wrong but right now it looks like there are all risks out there none of which are triggered unless theres some sort of geo political accident, and so we have no room in this bull market stuart we celebrate our tenth anniversary in the third week of january next year. I hope youre with us for another 10 years. Ill be here as long as youre here well grow old together. Stuart okay, whatever you say. Mr. Awad, thank you very much, sir. My pleasure. Stuart its happening right now on capitol hill, the head of the federal Aviation Administration testifying on the boeing 737 max jet. Hillary vaughn coming into tell us what he has already said. Stuart, what were expecting him to respond to is an internal report at his own administration in 2018 that showed 737 max would without agency intervention would be prone to a fatal crash every two to three years. After the faa received that internal report, they still let the 737 max fly, and were also going to hear from the whistleblower who was here in this room, edward pierceon, who says he raised Major Concerns with his managers and the head of the 737 program saying that his plant in Washington State turned into a factory in chaos after they pressured workers to turn out and work faster essentially and turn out more 737 maxes, so thats what were expecting to hear moments from now, stuart . Stuart sounds like a negative for boeing and the stock is indeed down. Hillary thank you very much indeed. Ive got a little ill right now , tesla, wants to use lasers, wait a minute, to clean your windshield . So imagine teslas with laser s mounted on their hoods in the future, sounds very terminator but apparently tesla has filed patents to do this and it makes sense because they want these pulse laser cleaning of debris off glass particles in the vehicles especially when they are trying to automate a lot of the car and the driving and you need a lot of sensors right to tell you where youre going, but its so smart. You have to give it to elon musk , the stock is up 47 over the past three months and i was looking into their marketing spend. You know ford and gm spend about 30 billion on advertising promotions each year. Guess how much tesla spends in comparison . Stuart not much . 70 million in comparison but look at all of the free advertising he gets from cyber and the unveil. Stuart hes the man of the future and the idea of using lasers to clean your windshield is not farfetched. Its not and they will likely get this patent since 50 filed have been improved. Stuart and he is a serial patent approval guy. Hes also a man that gets us talking doesnt he . Stuart he does and the stock is up 47 in three months thats extraordinary through, susan. The brits, yeah they head to the polls tomorrow for their general election, a second one actually. Will this election finally bring the brits out of the European Union . Will they get their brexit . Later this hour, well have a report from london, of course. Two students suing the university of california, they say they want the school to drop s. A. T. And a. C. T. Exams because it discriminate against low income students. Judge napolitano will discuss that one in a moment but next, another west coast out rage story for you. The city of portland, oregon wants private Property Owners to create mandatory spaces for homeless people. Well break it down for you, in a moment. Theres a lot of talk about value out there. But at fidelity, value is more than just talk. We offer commissionfree online u. S. 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Stuart the big board shows a minor league gain loss on the breakeven point, were at 27, 880. Weve put game stop on death watch. Its a weak forecast with weak demand for game consoles and consumers are downloading games and its killing game stop, the stock is down 14. 5 . Software giant, dare i call them old tech . Probably not. They wouldnt like that. Theyre not happy with San Francisco, theyre moving their annual open world conference to las vegas, next year. Why . Well, because San Francisco to them has deteriorated, tour street conditions and thats the reason why theyre moving. They dont want their 60,000 attendees at open world each and every year, they dont want them walking over used needles, animal human feces in downtown San Francisco, so theyve had enough after 20 years, they are moving to las vegas for the next three years, and San Francisco travel Association Says its going to hurt San Francisco like to the tune of around 64 million or so, but you know, San Francisco has pretty high hotel rates. Number four in the country, according to cheaphotels. Org, and they spike when theres an event in town so they also want to make it more affordable as well because on average the hotel rates in San Francisco according to this website is 214 for a double room in a three star hotel and in las vegas its only 69 and more affordable. Stuart if you gamble they will give you the room for free. Thats right. San francisco needs to clean up their act. Stuart they do. Well the city of portland, oregon is demanding that private Property Owners add rest spaces for the homeless. Its mandatory in New Buildings that is. Eric fruits is with us with the Cascade Policy Institute in portland. Eric make sure ive got this right. New buildings, portland, oregon must have spaces where the homeless can rest and hang out. Is that accurate . Well thats the way things are looking. The idea is that they want to have spaces where you can not only just rest but you can rest and feel welcome, and that includes things like benches that you can sleep on and even spaces to pitch a tent if the Planning Commission has their way. Stuart i think youre a libertarian. What do you think about that . I am, and what i dont like about this is essentially the city is drafting private Property Owners to turn over part of their space for essentially homeless camps, and that just, i mean, it harms not just the Property Owner but also the businesses and the residents that might be located in those. Can you imagine having a restaurant thats next to what doubles as a homeless tent . Stuart no, i cant. It seems to be out of the question, but i dont think anybody has yet come up with any kind of answer what to do with this massive homeless problem. I can see how portland is trying do you think it would work if they got these rest spaces . Would it in a way work . I dont think it would work. I think that the problem you have is the city of portland is in its fifth year of what they call a housing emergency and weve approved over almost 1 billion in bonds to deal with the homeless and affordability problem and guess what the more we spend the worse it gets so maybe what we need to do is look back and say what were doing isnt working and one of the first rules of hitting yourself with a hammer is it feels so good when you stop. Maybe we should stop doing that. Stuart has portland at this point imposed this mandatory space for the homeless or just talking about it . Theyre just talking about it and the city has tried to backtrack whether they wrote this really cryptic email saying that oh, its not set in stone yet, but the way that the city works, its pretty clear that this is something they really want. Its a real feel good measure. Its one of those thins that can help them with their virtue seem that they are doing something and roping in the private community into doing something to help deal with the homeless ness but really a way of saying theyve given up on solving the problem and not trying to figure out a way to accommodate what is a growing problem. The longer the emergency goes the worse it gets and the more money they spend the worse it gets. Stuart eric ive got 30 seconds left. Can you give me your solution to portlands homeless problem . Yeah, i think what we need to do is have more emergency shelters because once you have more emergency shelters, the police are free to sweep the streets. Theres a court ruling that says if theres no shelter Space Available you cant kick them off the streets. I think what we need to do is get those available so we could do more to cleanup our camps. Stuart got it. Eric fruits thanks for joining us sir, interesting story. My pleasure. Stuart next case, Dollar General. Their stock is selling cbd products. Okay thats Dollar General, what kind of cbd . Well so they talked to us before and they said they would start selling the cbd, creams, bath bombs, bath salts and face masks and they will increase this 20 of the cbd products will be available in 1,100 of the 16,000 stores they operate in tennessee and kentucky and they also stuart wait, wait, wait, surely there are not 16,000dollar General Stores in kentucky and tennessee . Yes, there are. Stuart 16,000 in just those two states . Yes, in those two states. Stuart i didnt know that. Look Dollar General is a big company and has a big footprint so they also plan to expand the availability of the cbd products in colorado, florida, indiana, oregon, south carolina, texas and vermont as well. Stuart forgive me for interrupting you like that but that blew me away. Thats okay. The number of stores they have . Stuart yes because they made a big deal yesterday when we announced that Dollar General is going to open 2,000 new stores next year. I thought that was an enormous number. It is. Stuart they already got 16,000 in tennessee and kentucky its not such a big number. I think anything that has 1,000 at the end of it especially in brickandmortar is a big number. Can i also point out that the cbd market is exploding at this point and we have bds analytics predicting itll grow to 20 billion by the year 2024 so just five short years its going to, its growing at doubledigit s each year. Stuart i hear it. Thank you, susan. Yesterday we told you about free agent baseball player garrett co le, he did score his big deal its a nineyear record contract , 324 million with the new york yankees well tell you more about it. Next though, john tap is back telling us about his new restaurant chain, im going to put it to him. Youve got to be pretty bullish on the economy if youre starting a new business. 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Whats your idea . I put it out there with a godaddy website. Make the world you want. Stuart straight from President Trump just in here it is. Wow all of our priorities have made it into the final National Defense authorization act, pay raise for our troops, rebuilding our military, paid parental leave, Border Security and space force. Congress, dont delay this any more. I will sign this historic defense legislation immediately. That just in. Come on back in again, john tap per, because i want to talk to you about your new restaurant chain called tappers tavern. What do you got there, five locations in georgia to start with . You got to be pretty bullish on the economy. Well we do. We have 60 in various stages of development. Its not just the economy, stuart. You know, people said recession recession a few months ago so that didnt happen. You can even see watching this program, the outlook is strong, but its a different business model. In the Restaurant Industry today were all terrified about labor. Were terrified for three reasons. One, labor costs are going up because were approaching 15 wages that in some states are 2. 20 an hour, thats a 600 increase and the second problem is our labor pools are very limited now because of trump, the fact of the matter is most people have jobs, and the third problem is the people we hire are what i call new americans, so they dont always communicate and speak our languages so well, so with those three factors, were really challenged, so ive created a concept with a robotic kitchen. Stuart oh. That reduces labor costs by over 40 , and that economic model changes the entire character of casual dining, so this has been a multiyear project of mine tofuse robotic cooking with a french cooking style to create a really high quality kitchen with only one person in it. Stuart you are one of those fascinating business guys to appear on this program. Youve been really good for us but i want one last question. Coca colas launching a sparkl ing water brand. Not just a couple of bottles here. This is a brand. Sparkling water. Kind of late to the party maybe, what do you think . Well you know, i came in a little late to the party and were doing great. Coke has distribution. They have shelf space. They have Convenience Stores all across the country. They can just reallocate that shelf space and get out in the marketplace pretty quickly. The question is how does the market react . A lot of other brands, stuart, would fight to get on that shelf in the first place. Coke has a great advantage. They will make it to the shelf. Question is does the product make it off the shelf . That we have to see. Stuart good one. Does it make it off the shelf. John youre all right come and see us again please i want progress reports on taffers tavern. You bet. Stuart weve got a couple of students in california to drop the s. A. T. And a. C. T. Exams and they say they discriminate against low income students and judge napolitano breaks it down for us, next. Most people think of verizon as a reliable phone company. But to businesses, were a reliable partner. We Keep Companies ready for whats next. man we weave security into their business. second man virtualize their operations. woman and build ai customer experiences. second woman we also keep them ready for the next big opportunity. Like 5g. Almost all of the fortune 500 partner with us. woman when it comes to digital transformation. Verizon keeps business ready. To work as hard as they do. However, since 2000, the buying power of the dollar has dropped by over 31 that means the dollar is only worth about 68¢ now compared to 2000. Had you owned gold, your value would have increased over 400 and owning gold is easy. With Rosland Capital a trusted leader in helping people acquire precious metals. Gold bullion, lady liberty gold and silver proofs, and our premium coins, can help you preserve your wealth. Call Rosland Capital at 8006308900 to receive your free rosland guide to gold, Gold Precious Metals ira and silver brochures. With rosland, there are no hassles, no gimmicks, and we have the fastest shipping around. Dollar down. Gold up. Pretty clear. Make gold your new standard. Call Rosland Capital today at 8006308900. 8006308900. Thats 8006308900. Stuart susan . [laughter] this is not one of the five songs that i know. Stuart youve never heard this one . Will you still need me when im 64 . That was wrote when he was 16 years old. Wow. Stuart how long ago were you 16 that was a long time. [laughter] stuart settle down. Look what weve got. Well have oil inventories, oh, thats important. How much oil did we take out of storage all right . Well it looks like we have a build of 322000barrels in the week expecting a drawdown of 2. 8 millionbarrels so theres more supply than anticipated and this goes with the American Petroleum institute, so Oil Prices Still have a twomonth high. Stuart you got out of that real fast because theres not much news there oil is down 0. 40 at 58. Netflix, new numbers on to the irishmen. How many times was it viewed in its first week . Wait, in its fist week how many viewers did it have compared to that other one . The other one, bird box . Stuart thats fine. So in the first week, 26. 4 million subscribers watched the irishmen, compared to sandra bullocks bird box last year 45. 3 million in the first week so pretty much half of the viewers for the blockbuster. Stuart if you insist one of your stars an overt trump hater, i wouldnt expect it. But its 3. 5 hours and spent 175 million on this film and the head of content of netflix says he expects maybe 40 million netflix viewers over the first month but still look at these numbers and say its pretty disappointing for the amount of money that you spent. Stuart compared to the box office if its regular cinema attendance, 26 million views but anyway i digressed too long. [laughter] Stuart Stephen beck is with us the founder of cg 42 a Management Consulting company and this man is an expert on streaming. Aint that right . Thats right. Stuart dont contradict. Whatever you say stuart. Stuart who do you think are the big winners in streaming because its a crowded field. Its very crowded and getting more crowded every day. At the end of the day netflix is still the big dog with the most subscribers and also have the most to lose and are the most vulnerable because they are los ing a lot of their acquired content so friends is the biggest show people watch on netflix and its going away. Stuart still . Still. They obviously invested billions in original content. The original content only equates all those billions only equates to around 30 of what the folks on netflix view. Stuart netflix is still a big dog . They are still a big dog. Stuart vulnerable . On the screen i have disney and apple. Disney, watch out because they are just in the beginning. They already have 20 million subscribers already. Just in one month in. Stuart thats extraordinary. It is. Credit suisse was predicting 20 million, so it was a surprise then if you want to talk about content, look at the mande lorean . 45 million type viewers up with bird box kind of numbers and reinvigorating a franchise so its not just about what it does for disney in its current form. Its also rein viega o regulation of the Star Wars Franchise which will pay dividend for years for disney plus. Stuart got it how about apple . Also on the screen. Apple is the really interesting one because apple is , they are in the very beginning stages of getting, building out original content. Their success with that has been very mixed. Their early shows doing okay, but not really breaking through. Obviously what they have is the echosystem. They have all these people with all these devices that are going to give it a try and give it a try. Almost automatically, so will they be around . Yes but their critical challenge is can we actually breakthrough with original content, because as the space gets more crowded, its going to be more and more difficult to acquire content that people are going to want to watch. Stuart the jury is out. Its absolutely out. Stuart thats very interesting tell me some losers not losers because thats the wrong word but also so i think some of the ones that are coming like peacock for example, i think they will have a very very difficult time breaking through. Again, because they dont have that original content that operates at the same level as some of the players like disney, and so while they will garner some interest when they launch, i think their challenge in breaking through is going to be really high. The one that you didnt mention is amazon. The really interesting thing about amazon is their broader play makes them always be part of the mix. The fact that youre a prime subscriber, youre not just getting content from them. Youre leveraging content to have a much broader Value Proposition for amazon so we always expect them to be really vulnerable. Stuart and they have extreme Champions League soccer. Thats right. Cant wait. Cant wait. Stuart by the way i didnt know if you noticed it but bottom left hand corner apple just hit an alltime record high reaching 271. 07 just as stephen was speaking right there. What a guy. Thanks for joining us appreciate it sir. Thank you. Stuart check that big board what are we now one hour and five minutes in, down 2523 points. Sprint check it, please. Fox business has learned that low level statement settlement negotiations between sprint and tmobile have begun, but the court case continues as the talks proceed. Sprint is actually down a tiny fraction on this, no Real Movement there. President trump expected to sign an executive order to fight antisemitism on College Campuses. Blake burman at the white house, will he cutoff federal funding to schools would dont comply with this . Well the focus here stuart is on title 6 of the 1964 Civil Rights Act which says if you are receiving federal funding in this case College Campuses you can not discriminate based on someones race, color or National Origin. Here is what a Senior Administration official said, telling reporters yesterday leading into the president signing this which is expected to be at some point later today, what this does is make clear that title 6 applies to antisemetic discrimination based on race, color, or National Origin however, stuart , that has raised some questions about whether or not the trump adminitration here is saying that judaism should be considered a nationality, for example, the Democratic Center who was jewish is among those echoing the concerns. Here is what he tweeted after the reports came out. My nationality is american. The Republican Jewish Coalition though stuart we should add they are supportive of this executive order the president will be signing today they call it historic. Stuart got it. Blake burman thank you very much indeed. Now this. Two students are suing the university of california to drop the s. A. T. And a. C. T. Exams they say they discriminate against low income students by relying on standardized tests. All rise, judge napolitano is with us. A very good story to follow, what blake burman just told us and they gave a very quite accurate description of the law so if the School Receives federal funds, they cant discriminate on the basis of race, nationality or place of origin, but this is an allegation of discrimination on the basis of wealth, that somehow, these questions, and i dont know how a court could possibly find this, these s. A. T. Questions which measure math skills and english skills, are skewed to help students whose parents have a better income. Thats almost inconceivable. Its saying if youre a poor student you cant do as well on these tests as a wealthy student and therefore, the test should be thrown out, or recast. How could a judge, thats called something thats like how could i judge possibly get to the bottom of this . Stuart and how could you have any kind of test to get you into a university, which doesnt imply winners and losers. Correct. Stuart so the losers sue on the grounds that they are at a disadvantage because they fail the test. In my opinion, the lawsuit is frivolous and the College Board which owns and administers these tests should make a claim for frivolity, youll love this, which means the english rule applies which means the lawyers that brought this case, i saw your face light up, the lawyers that brought this case, if a court finds that, the lawyers, will end up paying the legal fee of the lawyers who resisted the case. Stuart excuse my language, all hell breaks loose if its found to be frivolous and the english rule applies because the english rule is the exception in america i know you think it should be the rule in america but only the rule in the case of another british word, frivolity. Stuart dont do more of this, dear me [laughter] listen i dont know where this is going to go. It should be dismissed out of hand. It probably wont because some judge will say oh, lets see if you can prove your case. Stuart tomorrow maybe we should discuss tomorrow as moore and henry viii. [laughter] stuart judge, thank you. The British Election is tomorrow Ashley Webster is there for us. Are we going to take you there too but first take a look at this movie, love actually. In a campaign ad from Prime Minister Boris Johnson. Watch this. Silent night stuart i absolutely love it no wonder they call him britains donald trump. [laughter] stuart it was great. More varney after this. What i love most about being a scientist at 3m is that im part of a community of problem solvers. We make ideas grow. From an everyday solution. To one that can take on a bigger challenge. From packaging tape. To tape that can bond materials to buildings. And planes. One idea can unlock a breadth of solutions. At 3m, we are solving problems that improve lives. the enchanted disney fine jewelry collection. With exclusive bridal styles at zales. Stuart while we play this song, what is this song . The clash. Stuart the clash what . The band called the clash. Stuart whats the song called . London calling. Stuart oh, okay i guess thats why were playing it thank you, susan were glad youre here. You dont know anything about the beatles but the clash, okay we got it we got it. [laughter] stuart the general election is tomorrow in britain. Ashley webster is there for us, of course. Ashley . Who wins . Ashley well, Boris Johnson and i can not believe you just said the clash what . The clash one of the greatest bands ever. Out of the uk anyway, let me move on. Yes, Boris Johnson up 9 now, should give him a majority of about 26 seats. I wanted to tell you about the mood of the country. There was a survey out that said one of the four words that you most think of when you think of british politic and those four words, divided, angry, confused, broken and boy thats a bit down in the mouth is it not . They were also asked to describe which fictional character best describes Boris Johnson and Jeremy Korbin. Boris johnson supporters said james bond, and his critics said Homer Simpson and Jeremy Korbin was just known as wheres wally, which is a british figure not very flattering indeed. 75 of a recent survey in the uk believed that the political system here is currently not fit for purpose. Not only are they angry, they are furious, but looks like they are going to vote for Boris Johnson and maybe, just maybe, stu well get Brexit Donald never have to utter that word again. Stuart just maybe by the way on your screen a moment ago ashley there was Boris Johnson delivering milk before dawn, in the north of england this morning. I love it. Stuart showing he can get brexit done good stuff. Ashley im sure well be talking a lot to you, with you about this brexit tomorrow. Thanks so much. Now, as you heard there, Boris Johnsons lead has been cut in half. His conservative party is still expected to win a majority of seats in parliament, come in telegraph columnist and Boris Johnsons former boss. Welcome back good to see you. Thanks. Stuart i remember youre not on the screen right now but well get you on the screen. I remember you wrote an oped saying americans should root for boris. Tell us why . Well because frankly, the alternative would be disastrous, Jeremy Corbyn, apart from hanging out with various terrorist groups like the ira is profoundly antiamerican, so the transatlantic relationship if Jeremy Corbyn and the election but the thing about the polls here is by no means certain that boris is going to win and there is a possibility that if all the opposition parties, labor, liberal democrats, the scottish nationals get together, that would just about scrape together enough seats in the new commons to put Jeremy Corbyn, so this is not completely off the agenda yet, stuart. Stuart but if boris did not win , if it was put together a parliamenttype whatever it comes out to be, i honestly think that will be a disaster for britain, which would stretch this brexit stuff on forever and ever. Yeah, well your correspondent was just saying hes looking forward to never saying the word brexit again. Well i can tell you if Jeremy Corbyn gets in youll be hearing a lot more about brexit because he wants to get his own deal and then vote against it. This is the nonsense of the labor party position. As i said, there are still strong forces in britain that oppose brexit, and if they were to coalesce into a coalition they could get corbyn in and apart from brexit going on forever, corbyn would just destroy the british economy and britain would become another venezuela. Stuart ive got 20 seconds. Did you like him . Did you like Boris Johnson . Good guy . Yeah, boris is great fun. I used to play rugby with him. Hes a good guy to have around. Hes always got a wise crack. Hes very bright. Hes very entertaining, and he gets things done, so lets just hope he prevails and becomes Prime Minister again tomorrow. Stuart indeed. And he was born in new york no less. Con coufflin, end of argument see you again real soon. U. S. Womens soccer megan rapino won Sports Illustrated sports person of the year award and she got the award. Then she criticized Sports Illustrated. Wait a minute, susan this is the woman who used obscenities to describe the white house and now shes objecting to the magazine which gave an award . Thats right, when youre invited over for dinner you dont go and complain about the food, but thats exactly what she did. It was accepting the sports person of the year award saying Sports Illustrated you dont have enough writers of color, you dont have enough female voices, and as you mentioned this is a woman that knelt by the way, in u. S. Colors, in the uniform, overseas, during the world cup. Stuart yeah, well she lost me. And President Trump wasnt, yeah. Stuart moving on rapidly from there, dont want to touch that one. Nope. Stuart check peloton, the stock this morning i believe its down a bit more, way down, 7 . Theyve got some competition these days. The competition is on the right hand side of your screen. Much cheaper bikes, like the one on your screen, that one is called the echelon, and its a fraction of the cost of the peloton and weve got the ceo on the show as well as a working model and Michael Bloomberg slam ming far left democrats who say they dont stand a chance against President Trump. I talked to the former president ial candidate ron paul about tax chime shaq magenta . I hate cartridges not magenta not magenta. Im not going back to the store. Magenta cartridges are so. buzzer vo the Epson Ecotank. No more cartridges. It comes with an incredible amount of ink that can save you a lot of frustration. The Epson Ecotank. Just fill and chill. Available at. May your holidays glow bright and all your dreams take flight. Lease the c 300 sedan for just 399 a month at the mercedesbenz winter event. Hurry in today. [ dramatic music ]ing ] ahhhh ahhhh elliott. You came back its our most dangerous addiction. And to get the whole world clean . That takes a lot more than an alternative. So we took our worst vice, and turned it into the dna for a better system. Materials made from recycled plastic woven and molded into all the things we consume. We created bionic and put the word out with godaddy. What will you change . Make the world you want. Stuart um, im sorry. Some rhythm and rhyme . Stuart Tennessee Whiskey thats what we were waiting for. Were waiting for that. Tennessee whiskey, okay. When you think Tennessee Whiskey , what brand do you think of . Well jack daniels probably, but theres a new whiskey in town and hes called wake forest, Uncle Nearest whiskey. The companies cofounder joins us now. This, by the way is an american success story. Uncle nearest. How do you get a name like that . [laughter] well it is Uncle Nearest premium whiskey and nearest green was his name. It was his chosen name, so nearest green was originally an enslaved man, and once he became free, he chose his name by all accounts and he chose nearest so we just say nearest and dear its but thats what his kids call him, his grandkids called him so thats what we call him. Stuart tell me, do you think that nearest Uncle Nearest premium whiskey is better than jack . Is it . [laughter] were very different. We are very very different in general, so we have similar consumers, but our products are incredibly different overall. Stuart how long have you been in business . We began in 2017 and were the Fastest Growing independent american whiskey brand in u. S. History, so were doing pretty good here in tennessee. Stuart how much would you charge me for a bottle of it . Ill charge you anywhere between 49. 99 and 120. Stuart so that is a premium brand indeed and youre selling well . Yeah, were selling very well. In two and a half years were already in 50 states in 12 countries outside of the u. S. In 9,000 locations, and its unheard of in this industry for any spirit, let alone whiskey. Stuart Uncle Nearest premium whiskey, an american success story. Thank you very much for being on the show. I never heard of it before but i heard about it now. Thank you. Stuart thank you very much. Good stuff indeed. Next one . Democrat president ial candidate like Elizabeth Warren are they really attack success all the time . Next hour, indiana senator mike braun is with us and now hes a successful business guy. Ill ask him how did you beat these democrats who dont like success . vo the moth without hope, struggles in the spiders web. With every attempt to free itself, it only becomes more entangled. Unaware that an exhilarating escape is just within reach. Defy the laws of human nature. At the season of audi sales event. Stuart trump is winning on immigration. Far fewer border crosses. He just won big on usmca, okay Speaker Pelosi tried to take credit but the new nafta is really trumps winning deal. He won on tax cuts. He won on deregulation and hes made our economy a global winner , but one of his biggest wins has received very little publicity. That is, Energy Independence. In the trump era, america became the big player in the energy world. That is a 180 from just a few years ago and we all benefit from this. First off cheap gas. The average for a gallon of regular is only 2. 57 and falling , in ten states the price of gas averages below 2. 30. Look this is remarkable. A Strong Economy, and gas gets cheaper . Not supposed to be like that but with trumps policies we boosted Oil Production to 12 Million Barrels a day. Thats where cheap gas comes from. And we dont have to bend the knee to people who hiatus like the iranians for example. Youve heard of fracking . Extracting natural gas from shale very deep in the ground . America rules that industry. Thats why theres no inflation in the cost of heating your home this winter. Its also why americas cut its Carbon Emissions more than any other industrial country. Theres far less carbon in nat gas. Energy dominance is a trump win. It is an american win. So why reverse it all . Why throw this president out of the office in the middle of the most prosperous period in years . Impeachment is happening, because the far left has seized control of the democrat party. They detest it, they cant stand it. They are impeaching on the basis of out of control emotion. It is a political mistake. You dont dump prosperity and if you try it, youll lose. The third hour of Varney Company continues. President trump we ended the last Administration War on american energy, the United States is now, and i said it and ill say it all night long, number one producer of oil and natural gas in the world and theres nobody even close. Stuart that was last night in pennsylvania. Obviously touting americas Number One Energy dominance lets get straight at it, moodys chief market economist. I dont know if there is any doubt that we are energy dominant but you tell us how good it is for every day americans. Boy this is a big change from what was true in the past. Were no longer at the mercy of opec, or the political situation i mean, because of Energy Independence, i think we have less Macro Economic risk and were also looking at less inflation risk. Less inflation risk means significantly lower Interest Rates and this Energy Independence has helped to reduce Inflation Expectations and gives the fed more flexibility to cut rates as quickly as needed. Stuart is it also good for manufacturing . Oh, very good. Excellent. Natural gas, petro chemicals, cheaper energy, definitely manufactures in the United States, it gives them a competitive engine Global Market s and speaking about natural gas, you know, we have so much natural gas, we will probably begin to export it, more of it at least maybe to europe and of course that lessen s the political power of russia. Stuart say that please, john ive got more for you in a second but Lauren Simonetti with us with a couple more examples that show america is the best game in town. What were doing is comparing our economy to others around the world best in town. Where else you putting your money, Hedge Fund Manager says just that the u. S. Economy is the best game in town, the billionaire investor said theres a Recession Risk of 75 by the end of next year and guess what thats down to . 35 and you have this dichotomy going on investors boarding cash over 3 trillion but also, they are betting that the economy and the market goes up. I mean the highest prediction ive seen is 15 so the s p 500, 3,600 next year, all that cash with these might come from the sidelines back into the market. Stuart thats fascinating and i know the business round table just put something out, any drama or big headlines . Three headlines, twothirds of the ceos from 140 of the biggest u. S. Companies expect sales to increase in the next six months thats number one. Gdp in the First Quarter of 20202. 1 , but number three, theyre cautious amid a trade war. Stuart they are always cautious john come back in. Wait a minute are we the best game in town . Without a doubt. You have the european economies on average growing by just over 1 , japan, roughly 1 growth, among advanced economies, there is no economy like the United States and were doing better than i think we did previously. Stuart well you spelled it out for us. Labor market its all about the labor marketnd i think that the Unemployment Rate continues to decline that will have very positive implications for the president s reelection. Stuart i opt put you on the spot but can you see the day coming when the Unemployment Rate is below 3 . Is that possible . It is indeed possible. Thats the case in japan its 2. 5 and there is absolutely no sign of Price Inflation in japan , if anything they suffer from price deflation. Stuart love it. Thank you, john. As always, appreciate you being here. My pleasure. Stuart thank you very much. Now, time has released its person of the year. I know who it is, Lauren Simonetti going to tell you. The youngest ever person and female, 16yearold Climate Change activist greta tundberg. Stuart she addressed it . How dare you. Stuart thats right. She said it several times with a very angry face. How dare you. How dare you. I dont think that went down well to be perfectly honest with you. Shes a climate worrier and i dont think she was, i dont think she did her cause much good with that, thats my opinion. She told that gathering of leaders around the world that she should be back, on the other side of the ocean, in school, but instead because of their in ability and their failure to act, she was there lecturing them. Stuart how dare you. I put this out on twitter and thats what a lot of people wrote back to me. How dare you. Stuart now weve also got the business person of the year, deirdre whose that . It is bob iger, as Time Magazine says were against big business, against big media, against big caltech and he managed to have a rock star year thats my phrasing, not Time Magazines and he said this time last year we had not closed the deal for fox entertainment and not opened up the two star wars, and we not launched disney plus or closed the deal for control of you had luxury, he says it is probably one of the most productive years he has had since hes been at the helm in 15 years. By the way i just want to point out, disney profits up 335 since he took over in 2005 if you owned the stock you have returned a 444 , jobs created 70,000 new jobs and by the way, disney has released six of the most profitable films so far this year. Stuart i think iger is the business person of the year. Hes done an excellent job going from old media to new media. Stuart next case, peloton yeah the stock is down today, the short seller, someone who bets that the stock is going down, andrew left said the stocks going to 5 a share. Hes going to be on the show tomorrow, meanwhile peloton stock is down today 7 . On the right hand side of your screen thats a peloton competitor, and cheaper than a peloton and better, they say, well the ceo is on the show, later this hour. First though, weve got to get to the president s rally last night in pennsylvania. Of course he touted energy dominance, of course he slammed impeachment but above all else, he drove home the fact that the economy is simply booming. You wont see that on cnn. Well talk to senator mike braun about it shortly and get his take on the socalled rich socialistic on the left, warren and sanders, apologizing for their past successes, apologiz ing for wealth. I want to know what an indiana businessman whose made it big, says about that. And congress is facing another budget deadline, nine days away, senator rick scott says if you dont come up with a budget they shouldnt get pay. Hes on the show. Third hour of varney just getting started. The whole wide world is raining down on you, brought to you courtesy, of the red, white, and blue think of verizon as a reliable phone company. But to businesses, were a reliable partner. We Keep Companies ready for whats next. man we weave security into their business. second man virtualize their operations. woman and build ai customer experiences. second woman we also keep them ready for the next big opportunity. Like 5g. Almost all of the fortune 500 partner with us. woman when it comes to digital transformation. Verizon keeps business ready. And let me tell you something, rodeo. I wouldnt be here if i thought reverse mortgages took advantage of any american senior, or worse, that it was some way to take your home. 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Obviously, the cosponsors of this bill, a democrat from new york and new jersey where you are very highly taxed, they are losing residents because of this and going to florida with all of those lower tax or no tax. Stuart so here youve got the democrats jumping into help the rich voters in new york and new jersey, and no doubt, California Democrats helping the rich . Thats an interesting spin on the story. Stuart well thats the way it works. Ive got to say i want to bring in mike braun, senator, the republican from the great state of indiana. Senator, do you support repeal of salt . No, its ironic that in places that have super high state and local taxes that they need that kind of relief, in places where government really works, and its a good value like indiana, its not even a discussion. I would always be for reducing tax loads, and in this case, i think they ought to consider lowering their state and local taxes so they dont run into that federal threshold. I think thats what most people from main street america would say about that. Not much sympathy. Stuart yeah, no i think youre right there too. Now, President Trump had the big speech last night and he was really trumpeting the economy, a big success. Just take a quick listen to this , please, here is mr. Trump on the economy. President trump and as i said, African American, hispanic american, asian american, unemployment, the lowestever in the history of our country, the lowest Unemployment Rates, wages below income workers have gone up more than 10 . Nobody thought that was possible theyre one of the biggest in terms of the group, one of the biggest beneficiaries. This year, 40 million American Families will benefit from he dt Household Incomes have gone up nearly 5,000 bucks a family in less than three years, only went up 1,000 per family in the 16 years of the bush and Obama Administration that we know had higher taxes and more regulation s so the economy is as hot as its ever been. Ive been doing it 37 years before i got here, and when you talk about some of the crazy stuff thats being talked about to derail it, that is what worries me most. Now this is an economy thats benefiting everyone, especially small businesses. When they pass pass the tax reform that actually impacted ll cs and subss, the job creators in this country, that is whats behind this big drive, along with getting rid of a lot of regulations that just are unnecessary. Stuart but we have the democrat s targeting success they dont like success on the 2020 campaign trail and in congress, they seem to object to success, especially in business, and now youre a very successful business guy yourself, and youre in the senate. How do you fight back, im going to call it a war on success. How do you beat it . I think that is about as naive a thing as you can say, because implicit and explicit in that, is that government is the driver. What they want is more of a broken institution that currently doesnt pay for itself anyway and then, theophano de ride the folks that actually move and shake in this country to pay the bills. We are at the sweet spot of how government revenues are going to be generated and theyre up nearly 4 , only offset by the fact that we cant reign in spending and with the tax cut, at lower rates, were generating record revenues. Ive been working on the cbo to be honest, whereas they said it was going to hurt revenues over a 10 year period. Thats not correct, and thank goodness weve got somebody in the white house that is creating the conditions to make this country move again. Stuart always glad to see you mr. Senator, mike braun, republican indiana, thanks foreseeing us. You bet. Stuart weve got tesla in the news. The cyber truck can you see this really burning rubber on the streets of los angeles this week , what acceleration that thing goes like a rocket. Rumor has it that elon musk himself is often behind the wheel. I thought we would show you that video, great acceleration but what about phased out maybe with all of this electric buzz not even close. Chevy has unveiled a line of brand new suvs big new suburban involved there too. Well show them to you, next. Are the color cartridges in your printer ready for another school year . What does cyan mean . It means cyanara, honor roll. imitates shell fire, laughs the ink daaaad daaaad im so hosed. Yeah. You are. shaq the Epson Ecotank printer. 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We believe in an all electric future because we believe in the science of Global Warming and we think transition ing to ev is a very important part of General Motors plan for the products going forward, and i do believe that electric vehicles can be very significant in the marketplace, if you focus on the customer, what the customer wants, and one of the key things is making sure those vehicles are high quality, reliable and affordable. Stuart that was pretty clear ive got to say that was gms chief mary barra on the show she is clearly all in with electric vehicles, fox news. Com automotive editor is joining us now. Chevrolet is a unit of General Motors and chevy has just introduced a whopping great big line of brand new gas guzzlers including huge suburban. What gives . V8 engines and a Diesel Engine if you can believe that, those are going to be the options on this. I talked to the Vice President of product development, yesterday and he said we considered everything, this is where we landed and this is what the customers want right now in a chevy suv. Now we know General Motors is working on an electric pickup related to this. Theres a good chance when the else kanye west laid version of these comes out pretty soon in fact well hear that will be election trifid thats a rumor thats the case, but the bread and butter ones the money makers is a huge market, chevrolet dominates this, 2 1 sales, 3 4 last year so they need these new trucks. Stuart gms line of bigger suv s outsells fords line of su vs and small trucks 2 1 . For the chevrolet versus the ford, right so far this year. Stuart thats huge. They are big in this and where they make their money along with pickup trucks and they are investing a lot of money and they need to make that money to invest right now, and this is how theyre doing it with popular products. Stuart thats where the money is and where the huge profits are in big suvs, period, thats it. Absolutely and remember even though these are based on the pickup trucks they are very different but based on them so those across both of them they can make a lot of profits on these. Stuart if the price of gasoline ever went back up to 4 a gallon and it was at 4 a gallon a few years ago i suspect the market for suvs would come way way down and the market for electric s would take off . Not as much as it used to. Last time everybody really freaked out and then months later they realized that this isnt quite as bad as we thought it was going to be. I think when they saw 4 they thought its going to go to 6 pretty soon and it never did. If the price goes up to 3 and 4, you can spend that in california right now. Stuart yes you can thats true. This market wont die. Were going to see electrification eventually. That diesel will get well over 30 miles per gallon, and its offered in the silver add o today. Stuart i just dont think that all electric is coming that fast for General Motors, unless you get 10 a gallon gasoline. Theyve got a plan. Its two years away before they even start with this, they have the truck, and a cadillac and then it will start more slowly and taking the time with the bolt contact car which isnt a big seller and they are picking up the market and they dont want to lose a lot of money right now but the cost of the batteries come down with this new factory in ohio. Stuart good stuff, next one, mike bloomberg. He went on offense last night against other 2020 democrats and he says President Trump would eat them all alive. What does that say about the state of the Democrat Field . Well we will ask ron paul about it and also get his take on a governmentrun supermarket. Local socialism in action basically. Where do you think it is . California, no. New york, no. Its in the Florida Panhandle and were going to take you there to see it, next. No, its not in my records. Youve got a lot on your plate. Deliveries. Billy, come in. Shift times. I just need to know if its there. Compliance. Can i get your 20 . For 100 drivers. Doug. Doug . And where is doug . He should be sleeping. So should you. Just because youre married to my sister, you could lose this job, billy this isnt working. Introducing samsung connected fleet solutions. With the galaxy tab active2, you can track driver shifts and timesheets and meet eld compliance, all from one device. Samsung business solutions. Stuart two hours into the trading day on a wednesday, and were down a mere 30 points for the dow industrials modest gains for the s p and the nasdac. Mike bloomberg spent 100 million on campaign ads so far, and hes slamming the rest of the Democrat Field. He says they dont stand a chance against President Trump. Watch this. I think trump is getting stronger and i think he would just eat alive the candidates, because they dont have plans that i think are practical, that can be implemented, they dont have Management Experience and the president s job is a management job, for 1 Million People to manage and if you dont have a lot of Management Experience this not a job where you take training wheels. This is the future of the world. Stuart okay, the gentleman on the right hand side of the screen is former congressman ron paul. Great to have you back, mr. Paul do you think thank you. Stuart do you think that as things stand now President Trump would eat alive the rest of the Democrat Field . I think so, the way it is now it sure looks that way and it may be even better as time goes on, but i dont think that the goal of government or of a president should be whose the best manager of people, you know , thats not what we want because i think both sides do too much management of people, but what we want and i think trump has already provided is to allow people a better chance to manage themselves and thats why the tax reduction and the regulation reductions has been helpful, but its still way too much other things going on too much spending too much Printing Press money, too much involvement, that to have somebody that can manage people better, i dont think, i want somebody there to understand the importance of private Property Ownership and contracts and volunteerism and continue to cut taxes. Stuart wouldnt that be nice but what do you feel about bloomberg has spent what 100 million on ads already. Look some people are saying the man is buying the election. Whats your response to that . I think that its not true. I think id encourage him to spend more, because then he will be more equal to others, and have less money to deal with, so no, i think a few things that we have seen is that money isnt automatic. These millionaires now billionaires when they dont come through with automatic success and this might be an example. Bloomberg doesnt look like hes doing that well, so i would like to think our elections are more to it than somebody whose out there bying elections but thats been the case, so much i think the way our system works, and how money does buy election even if its not their own money, but thats because government has so much to sell, they are too much involved. If youre looking for somebody to protect liberty you dont have to have a ton of money if they do believe in Less Government and personal liberty and Civil Liberties you dont have to buy them whether its their own money or not, so i think let bloomberg spend all his money and maybe he will be more like us. Stuart real fast, i went out on a limb the other day and i said i think bloomberg has a very good chance at being the democrat nominee. In fact i think i said he will be the democrat nominee. Your comment . Well, i think youre more optimistic about that new yorker than i am, but maybe mine is more wishful thinking, because it would be such a disaster. Stuart okay. But no, i think that i wouldnt make that prediction now, but like i say, it may be that i would see him as the very much opposed to Civil Liberties and the way he manages things. He likes to manage people. I dont want people to manage, i want more liberty and Less Government and we still have plenty of problems to deal with. Stuart ron would you just stay there for a second because ive got breaking news i just got to deal with this. The ceo of toyota stepping down. Any details on this . Hes been with the company for 38 years. He is stepping down, effective april 1, april fools day succeeding him will be the toyota chief operating officer so big changes at the top of toyota. Stuart and a significant move for the stock price a modest fractional gain right there and now ill introduce the story which i want ron paul to comment on in just a moment. The only Grocery Store, in a very small town in florida, closed down, so the towns government took action. Jonathan suri is with us in baldwin, florida. Jonathan what did the government do . Well, they are running a governmentrun Grocery Store but make no mistake both city officials and residents say this is not a socialistic experiment and it is fulfilling a basic need that has not been met. For years, in fact for decades, this very store was run by private entrepreneurs, compan ies, but as the grocery market becomes increasingly consolidated, serving these remote areas becomes less profitable and also since the recession, over the past decade, theres been a decline in independent grocery owners, so when this store closed shop last year, the mayor and city council decided to step in, take over the store, run it so that folks, elderly folks, poor people with limited access to transportation wouldnt have to drive 10 miles to the next Grocery Store just to get Fresh Produce and fresh meat. They really see this as a public utility. This is the Natural Resource that the public needs and this store is like water works so the Electric Company providing food to local residents, as they see it, it is taking care of their own. Stuart . Stuart jonathan we hear you lets come back with ron paul, two questions, ron. A, should the government be running a Grocery Store and b, would you shop there . No, it isnt going to work. I would think that if your a strict states rights person you might say that the federal government ought to stay out of it and not rule on it but its a disaster and it wont work so thats the most important thing but this whole idea that theyre going to provide Better Services and better food is rejecting the whole notion of the free market, so if they claim that, why dont they go, what if i could prove to them that if i can get every individual in that town to get Better Health i want 30 minutes of their time to do proper exercising, it becomes more and more once you accept the idea that the state is there to protect us, from ourselves, you get these crazy schemes were going to change it. Yes theres a problem there but it is going to be much easier solved by the marketplace but the idea that the state should deal with this, but youd hope they would have more sense in that but they showed you federal money obviously. It cant work. Stuart you make so much sense, you really should go back into congress. Ron paul, im sorry were out of time because youre our favorite guest on the show well see you again soon, sir, thank you. Thank you. Stuart big election in britain tomorrow is the general election , signs point to a Boris Johnson victory, Ashley Webster is in london and i want to know, ashley what are the bookies saying about this . Ashley you know i stopped by the bookies every time im here stu just for you. Well Boris Johnson conservative party 5 2 on favorites you have to bet 5 pounds to win 2 and second on that list will be a Hung Parliament no majority thats 94 and then the labor party of Jeremy Korbin 20 1 so thats where the money is going on the conservative not the labor party but whats interesting stu is Boris Johnson is very visible campaigner, unlike Jeremy Corbyn, and he loves a photo opportunity and my word weve had a ton of those and lets not forget on monday he had his picture taken with a fish on the top right, and hes caught going down the wall with a bulldozer and delivered milk all of this saying i can deliver brexit and then on sunday he put out that love actually themed ad , getting a lot of play here, you ran some of it earlier but lets take another quick look. Sleep in heavenly peace, silent night, holy night, ashley how about that, getting a lot of play here and if you know that scene in love actually its classic and Boris Johnson made a pit stop in darby today where he made a beef and ale pie and he said it was oven ready just like brexit and of course he also provided us something, oh, yeah, stu varney. Stuart that is my original hometown. Left it half a century ago but thats my original hometown. Ashley . Thanks very much. Well see you again tomorrow. That and Boris Johnson ad was fantastic. Beef and ale pie . Stuart oh, we, i want to update you on a story we did the other day about watches being up for auction, youve got the update, start with m brandos watch. He engraved it, 1. 95 million stuart thats all . Yeah, i know this watch told an incredible story, the filmmakers didnt want him to wear it and he wore it and it went for 1. 5 million and jack ni cholas 1. 2 million and he wore that for 15 years for 12 of 18 championship titles. Stuart 17 million wasnt it . 17. 8 million and that watch jumped from right where these were from 1 million to 10 million just like that and they got lucky. Stuart i guess they did. We should tell Charles Payne hes a watch collector. Capitol hill, nine days away from yet another possible Government Shutdown. Next we have senator rick scott. Hes fired up. He says if theres no budget, congress should not get paid. They get a lot of sympathy from our viewers and hes next. Stuart lets get fast on this the head guy at toyota stepping down hes a veteran in the business whose taking his place . The current coo, ted ogala, all of this effective april 1 when the current ceo does retire hes 64 years old. Stuart hes been there 38 years now. Hes a veteran. More impact on the stock up 0. 30 thats it. Video game store, gamestop, we put them on death watch sales down 26 in the third quarter. People dont buy actual games, they download them dont they . Yeah, its that and then its a warning from the ceo. He says look one more year of pain because the new consoles arent coming out yet until the end of 2020, so if you couple those two things together, stock s at 5. 30 now there is a price tag of 3 out there. Stuart ouch that hurts all right the government, a Government Shutdown another Government Shutdown may be loom ing. Congress has until december 20 that will obviously be right before christmas to get something done, florida senator rick scott is with us. Mr. Senator, i believe youre saying if you dont get a budget done, you dont get paid, thats verying to be very popular with our viewers. Stuart if you dont do your chores you dont get your allowance. Our first employer said if you dont show up for work you dont get paid. We dont have a budget, so we shouldnt get paid so i have a bill, its real simple. You dont pass a budget, doesnt mean you didnt do your job, you dont get paid. Its real simple maybe people will start focused on getting the budget passed rather than continuing resolution from these fire drills every 30 days. Stuart that would be largely symbolic because you can present a bill but you dont necessarily have it signed. No its a lot of work to get it done. Ill try to get a vote in the Senate Floor Soon and then working with some house members to try to get it done, i think the president will sign it, but its a lot of work to get it done so everybody calls their house and Senate Members and tells them they would like them to support this bill making my life a little bit easier to get this done. Stuart lets see what we can do senator now what about impeachment . Are the republicans in the senate rock solid totally united against a yes vote on impeachment . Absolutely. I mean, think about it. In the senate, you dont get to use hearsay evidence like its a real trial not the fake stuff that the house does or they do in china where they use hearsay evidence. Here you have to have evidence. The only person transparent is trump. He put out the transcript. So i think these are getting hurt right now, because people back home are saying wait a minute. Youre wasting your time doing impeachment and youre not passing the budget, securing the border, reducing drug prices. So i think back home i think the democrats are hearing that people are frustrated and not getting anything done. Stuart whats the state of floridas economy . I ask because its obviously a key state a battleground state. The economy overall is doing well. How is florida because youre a key state in 2020. Well, the economy is doing great. I think trump will have a big win. Everything i see, hes in a similar position he was in 2016 during my recent 2018, and the rnc has a great grassroots effort but the economy is on fire. Tourism is way up, home sales are up, 500,000 people moved to the state last year, so i think that hes going to have a big win and i think on all of his rallies, you got to talk about jobs a little bit more and talk about the economy a little bit more, because Everybody Loves whats happening in this country low unemployment, low African American unemployment, low hispanic unemployment were on fire right now in this country. Stuart got it, mr. Senator as always, thank you very much for taking time out to be with us. Its really appreciated. Thank you, sir. Have a good day, stuart. Stuart yes, sir. Ive got a couple of headlines on of all things, meat. First of all mcdonalds says it might move beyond, beyond meat. Okay so the plt, the plant based patty is being tested at mcdonalds in canada. If it moves over to the United States, beyond meat could be the supplier of that but very rarely outside of coca cola does mcdonalds use just one supplier so it could be several suppliers if youre an investor in beyond meat stock says 75. This is what analysts say takes sales to 1 billion, a partnership with mcdonalds. Stuart and it would. Absolutely and mcdonalds is the king of the hill when it comes tou bars. Id try it. Stuart that would be . Plant based patty. Stuart no pbp . Like a blt . Stuart oh, its the plant. Plant based. Stuart whatever you say. Protein based. Stuart ill take it. Here is another one for you, impossible foods got a big environmental award, who gave them the award . The you knighted nations they won the u. N. Climate award for everything that theyre doing on plant based and i would say, did you know that impossible foods debuted their plant based meat alternative at ces, they Consumer Electronics major trade show back in january stuart no i didnt know that. Yeah its all caltech and they were serving up plant based everything. Stuart so the vegetarians and vegans have taken over now thats very interesting good one , thank you. Now, we have the ceo of Echelon Fitness who are a competitor of peloton. Here is the kicker. Their bike is 1,400 cheaper than the peloton. Were going to talk to him in a moment, were demonstrating one of those echelon bikes right now keep it here, please. Most people think of verizon as a reliable phone company. But to businesses, were a reliable partner. We Keep Companies ready for whats next. man we weave security into their business. second man virtualize their operations. woman and build ai customer experiences. second woman we also keep them ready for the next big opportunity. Like 5g. Almost all of the fortune 500 partner with us. woman when it comes to digital transformation. Verizon keeps business ready. This holiday season, give her the gift that says, you are my icon. You are my diamond. 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Stuart were getting a lot of time to peloton over the past week but i want you to check out a competitor, echelon, who are a cheaper option and the fitness ceo is with us right now. Lou, welcome to the show. Thank you so much. Stuart right hand side of the screen, we have one of the train ers actually using the bike as we speak just behind the Christmas Tree in our studio. Lou, how much cheaper is the ech elon compared to a peloton . Well you can get it for about 800 compared to a peloton its about 2,400 to get it home. Stuart you start at 800 . We go up to about 1,600. The 800 uses your ipad or your google or tablet, android tablet but its a great experience. If youre an apple lover youll love it. Stuart whats the difference between the peloton and the eche lon . Other than price, are they better exercise bike . Would you give them that . Peloton is a great product i wont knock them, but i think weve created something thats very special and is at a similar level but at a Competitive Price we sell to the major retailers and online as well, so were making something that is getting out to the masses when theyre going to the boutiques and these gallery malls and stuff creating these very expensive showrooms were going out to the retailers so weve got a better strategy i think to market. Stuart did you get hit when peloton was hit for the socalled sexism in that ad . Ive never senior ads, but were you hit . We have a lot of social media backlash on it as well for people having skinny people in our commercials. Our big commercial right now is santa claus and we make him skinny but he secretly rides our bike. Stuart you are wicked. We got backlash for people too because santa cant be skinny, but were trying to be healthier here with echelon, and we have a great product that everyone can afford. Stuart can you tell us how many youve sold . Will you tell us . We have about 100,000 members right now, and our stuart does that mean youve sold 100,000 . It means our number is very similar to that and ill tell you one thing, our numbers, were a private company and we have backed by private equity in north Castle Partners but whats exciting about us during the black friday cyber monday our numbers were up five times over last year and at the demand is huge for this category, and interactive, connected fitness, with the media that you have here, we have a similar media experience with a studio in miami and one in chattanooga, tennessee. Its big. People want that boutique fitness right in their home. Stuart thats extraordinary i see nicole pedaling away right there. That looks good i got to say lou thanks very much. Thank you. Stuart we appreciate you being here. Thank you. Stuart now, we have this for you. Are you there . Ive got you. Citron Research Says pelotons price goes down to 5. Tomorrow, the man who made that call, andrew left, he will join us on the show. 5 for peloton, well discuss. Megan rappino back in the spotlight named Sports Illustrated, im sorry sports person of the year and she accepted the award, monday night , but she couldnt help but bite the hand that fed her, well tell you exactly what she said. Garrett cole, pitcher for the astros in the world series, well hes got a deal with the yankees its worth an enormous amount of money and of course, well tell you how much its valued at after this. There goes my hero look, this isnt my first rodeo. And let me tell you something, i wouldnt be here if i thought reverse mortgages took advantage of any american senior, or worse, that it was some way to take your home. Its just a loan designed for older homeowners, and, its helped over a million americans. A reverse Mortgage Loan isnt some kind of trick to take your home. Its a loan, like any other. 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Look, reverse mortgages arent for everyone but i think ive been round long enough to know whats what. Im proud to be a part of aag, i trust em, i think you can too. Trust aag for the best reverse mortgage solutions. So you can. Retire better. Stuart all right, what did megan rapino say when she got the award. Lauren she slammed the magazine for not having enough diversity. She also said shes going to campaign for whoever the democratic nominee is to get President Trump out of office. Stuart see if that helps. Garrett cole, star pitcher trades to yankees for how much . 9year deal, the deal is so long because hes 29 years old. 326 strikeouts last year, by the way. Stuart 36 million a year. Per year. Stuart more than a million per start, how about that . Time is up for stuart. Neil we are following clock tickings here, four days away from deadline, we will know by then whether the administration is ahead of the green to push back those tariff that is were supposed to kick in, 165 billion worth of chinese goods. The guy who investigated what got them going on in the first place and separately you have a lot of ceos talking around the country, including Morgan Stanley or chase morgan ceo with his view of where he see it is economy going, we will get updates on all of the above. Lets go to craig