Transcripts For FBC Varney Company 20130923

Hollywood ought to be worried. And twitter so confident it may charge for hash tags. Were going to follow the countdown. And three more governors speak, you follow the money, its flowing into technology and you will see as Varney Company starts the new week. Neil and buzz for teaching us that you cant create the future. By clinging to the past. And with that youre history. Instead of looking behind. Delta is looking beyond. 80 thousand of us investing billions. In everything from the best experiences below. To the finest comforts above. Were not simply saluting history. Were making it. A tech takeover driving americas economy and the market, too. Look at this breakdown. The entire stock of apples new iphones sold out in less than 24 hours. 9 million phones all over the weekend, thats a record. 200 million phones now operating on the ios 7 system. Apple telling its customers dont expect to get your hands on one until next month. Ill tell you now, that stock is going straight up. The video game grand theft auto five taking in a billion in sales, thats more than every movie released this year except for ironman 3. That was another favorite. And online streaming winning the entertainment, house of cards the best director award, first major victory for any online video distributor. Twitter may have found a way to monetize itself before the forth coming ipo. Reports it may start charging companies who use hashtags to promote their products. Thats how confident they are. Tech is one pushing the economy forward, i repeat, the geeks shall inherit the earth. While the geeks are in the economy, government cant get it together. Days until a shutdown and nancy pelosi says there are no more cuts that congress could possibly make . Why now . Theres no more cuts to make. Its really important that people understand that. But when the Congress Woman says that lawmakers have to pass obama care to find out whats in it. Now, Liz Macdonald has three things that could easily be cut from a 4 trillion dollar budget. Maybe yours truly knows a thing or two. Brian kilmeade was way off on this one. More on that in our next hour. Moments from now youre going to see technology, how its pulling in the money, apple stock zooming. Stay right there. [ indistinct shouting ] [ indistinct shouting ] [ male announcer ] time and sales data. Splitsecond stats. [ indistinct shouting ] its so close to the options floor. [ indistinct shouting, bell dinging ]. Youll bust your brain box. All onhinkorswim from td ameritrade. [ male announcer ] now, taking care of things at home is just a tap away. Introducing at t digital life. Personalized Home Security and automation. [ lock clicks ]. That lets you be cloto home. Thats so cool. [ male announcer ] get 100 in instant savings when you order digital life smart security. Limited availability in select markets. Limited availability in select markets. Nascar is about excitement. But tracking all the action and hearing everything from our marketing partners, the media and millions of fans on social media can be a challenge. Thats why we partnered with hp to build the new nascar fan and media engagement center. Hps Technology Helps us turn millions of tweets, posts and stories into realte Business Insights that help scar win with our fans. From capital one. Boris earns unlimited rewards for his Small Business. Can i get the smith contract, ease . Thank you. Thats three new paper shredders. [ boris ] put em on my spark card. [ garth ] boris Small Business earns 2 cash back on every pchase every day. Great businesses deserve unlimited rewards. Read back the chickens testimony, please. Buk, buk, bukka [ male announcer ] get the spark Business Card from capital one and earn unlimited rewards. Choose 2 cash back or double miles on every purchase every day. Told you id get half. Whats in your walle time is on my side oh, yeah, time. Were near a Government Shutdown. A congresswoman is with us, is she willing to shut down to defund obama care . And Scott Shellady is it with us, scott, i say that this possible Government Shutdown is not a factor in todays market trading. Am i right . I think youre absolutely right and for one reason. Weve had a lot of Different Things to worry about over the last 18 months. Weve only had two 5 pullbacks and this is not going to affect the government like syria didnt affect the markets and like a lot of other things havent given us the downdraft. They havent ride. Stuart stay this for a second, scott. Im going to read this announcement. Just got it in from the new york fed governor. He says, my quote, we have yet to see any meaningful pickup in the economys forward momentum. Scott shellady, that sound like hes in favor of keeping on printing. I tell you one thing, a lot of investors are tired of being jumped around from every statement from every fed governor every day. Yeah, like the governments going to like to see, and fed needs to see, two or three wrong months in a row of good economic figures. Even if we get a good jobs number. Were going to need to see great in october and december. Were not going to move this month or for the rest of the year. Probably looking sometime maybe the end of First Quarter next year or maybe the end of the Second Quarter next year, but we need to see strong numbers in a row and thats what the feds worry about. 1937 the fed made a mistake and raised rates too early and thats what bernanke is afraid about. Stuart lets get the history into the action. Why not . Scott, we hear you and that statement from mr. Dudley, i dont think it moved the market that much. We were going to be down, we are down, but not by very much. In fact, its a pretty flat opening as opposed to a down opening that we had been expecting. Now, here is the real story of the day. This one is moving money. Pp. Ol 9 mli i atrd. Heut untex mon. Socolerigh from the getgo with are is the stock. This is through anybodys estimate is up 26 now. 493, it was approaching t 500 mark. 9 million iphones, they didnt break it down for the iphone 5 s versus the c and we cant leave out the fastest Software Upgrade in history. Apple added more than 200 million of the new ioperating 7 devices are now running. So, thats huge and the tactful fastest Software Upgrades. Stuart one of the premises of todays program is that money is flowing into technology and apple is the prief example. Stay on that stock for a second. I want to move on. The money is flowing to technology. Take a look at this. Take twos grand theft auto five sold billion dollar worth of product over the weekend, not bad for what, three days. Shares are up 50 this year and the stock is up this morning. Totally different story for blackberry. Old line tech, i guess you could call it that. The company will move away from the Consumer Market and focus on smart phones for government. And nine brokerages have slashed the target price and its down another 4 this morning and blackberry is at 8. A big winner at the emmies, netflix, the first win from a download site. Nicole, net flicks stock please . New high for netflix, who said they hadnt run up enough. The high of the day 320. 39. House of cards gets an emmy, first emmy ever. Didnt see it on tv and its unbelievable, a whole new way of life. Stuart well, its technology in practice and the mo money is going straight at it. Apple, netflix, take two. Its an extraordinary story, if you couple that with the statement from this fed governor, dudley, you know, we havent seen real signs that the economy is moving forward that well, put it together and we now have a stock market thats going up. Were up 11 points this monday morning. 15,462. We are, of course, on Government Shutdown watch. We have to be. Lets bring in republican congressman diane black and she joins the company, from tennessee. May we get straight at this without the side talk and the gobbledygook. When push comes to shove are you going to vote in the house to defund obama care even though you know it cannot happen . Oh, good morning, stuart, thank you for that direct question. You know, as well as i do, the American People do not want a Government Shutdown, but neither do they want obama care. And thats the reason why the house took action last week where we packed the bill that would continue government funding, but it would defund obama care. So, we know what the people want. We know what direction were going because we know that this bill that the president has called obama care is just wrecking our economy. Stuart okay, hold on a second. Youve passed this bill in the house that says defund obama care, but we will, we will fund the rest of the government. Its gone to the senate. Its highly likely that the senate will strip out the defund obama care deal and send it back to the house fund the government. At that point youve got the choice, do you not fund the government . Because you want to defund obama care . Or do you fund the government and keep it open . At that point what do you vote . Sure. Well, first of all, i dont want to speculate just what will happen in the senate . We dont know for sure. Its good that the senate is able to debate this and give the American People an opportunity to see an honest, transparent debate in the senate. Its good that we finally get them to do that. We have a number of senators up for reelection. Obama care is wildly unpopular and more unpopular as days go by. I dont want to speculate whats going to happen in the senate. Well make that decision at the end of the day when they send us something back. After that decision is made on defunding obama care, after weve done that. We have to go through the process, whether or not were going to get the government borrow more money. The debt ceiling is coming up about mid october. Are you going to consider not allowing the government to borrow more money . Would you consider allowing the federal government to default . Well, i think what we have to make sure that we do, we have to make sure that we have that conversation as well, of how we cut and continue to get in government in a place where we can have a balanced budget and we have done that again in the house. Weve had plans that weve put out there, voted for, that would send us in a direction where we could have prosperity in this nation and get to the point where we dont have to keep borrowing money and thats a conversation that needs to take place as we deal with this very important issue. Stuart i think the media is going to make mince meat of you, and say that republicans have shut down the government, republicans have driven us to the brink of default. Its your fault. Look, i think thats the way its going to come down. Congresswoman, im sorry, we have to move on because we have an interesting market situation today. Come and see us again as this showdown gets closer, thanks for being with us. Id love to see you again. Stuart its a deal. Thank you very much. New at 10 00, here is what weve got for you, pope francis talking about this, and said the Global Economy can no longer be based on a god called money. Were going to highlight that at the top of the hour and discuss. Our theme this monday, tech rules, the geeks shall inherit the earth. They have. Keith fitzgerald from portland joins us, am i right . Thats where the money is flowing, and where you put your money, technology is king . Well, i think that technology is not only king, but one of the things that the government doesnt understand, its immensely profitable. Look at apple, the game world, the tech side, i mean, this is where the money is going. Stuart okay. What about this Government Shutdown . I say its playing no role what well, no, a very limited role in the marketplace this monday morning. What say you . You know, i just, i cant help, but agree with you, stuart. Our government is lurching from one crisis to another, the markets have decided its a none issue. The americans are just dull to the point, not were dull, we are absolutely dull by government incompetence and so we decide to move on and hunt for Profitable Companies which is what every investor should be doing anyway. Got it. That, by the way, is charles paynes point and your point and just look at apple this morning. By the way, weve got the fed governor out of new york, mr. Dudley, and there are three statements from fed governors due today. I dont know what theyre going to say, but theyve got statements there are going to come out. Are you tired of being jerked around by every single statement from every single fed governor comes along, up goes the market, down goes the market, are we not getting tired of this . Thats like the scene in one of the silent films, somebody needs to take a hook and yank them off camera. Theyre so badly out of touch with how the rest of us live, their statements have become dangerously irrelevant and i think its a very interesting point because again, money is falling into tech, money is flowing into defensive stocks and into Global Brands right now. These guys analytics are in touch with the markets of a hundred years ago. Not in touch with todays markets. They have a hard time measuring the value that investors actually find worth their time today. Stuart yeah, weve got a bug on the bottom of the screen that shows apple up 25 as we speak. One last one fast. Angela merkel wins a third term in germany. Do you care . Oh, absolutely. You know, shes pulled a faster here, shes an iron will. The question is if she has somebody to work with. Follow the news, the euro stocks 50 shorts went to 1 is 1. 7 and this says that the bear have given up and we could see a nice market led by none other than germany. Stuart keith, good to see you. Check the big board, im going to call it flat. 3 points, thats it. Ben bernanke, im saying hes the most powerful man in the world. After the break, we pull back the curtin and show you why. Announcer where can an investor be a name and not a number . Scottrade. Ron im never alone with scottrade. I can always call or stop by my local office. Theyre nearby and ready to help. So when i have questions, i can talk to someone who knows exactly how i trade. Because i dont trade like everybody. I trade like me. Thats why im with scottrade. Announcer scottrade proud to be ranked best overall client experience. Amelia. Neil and buzz for teaching us that you cant create the future. 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Starting at 29,900. train horn vo wherever our trains go, the economy comes to life. Norfolk southern. One line, infinite possibilities. Okay. Look at the price of gold. Its down this morningment weve got two fed governors, two fed governors who suggested maybe we keep on printing. No effect on gold. In fact, its down 9, 1322. Big change for the dow going into effect today. Bank of america, hewlettpackard, alcoa, they are out. Nike, visa, goldman, they are in. Those three stocks, by the way, down today so far. You always hear about ben or the Federal Reserve, very much in the news. How much do you really know about the Federal Reserve . One film maker sets out to answer that question. Check this out. Across the world, the fed is the symbol of the integrity and the reliability of our Financial System and the decisions of feds affect the livelihood of all americans. The fed is supposed to be the guardian, preventing chaos in markets. Now, usually it can do that. In the summer of 2008 it doesnt do that. We did get chaos. Oh, okay. Lets bring in jim bruce. He is the director and the producer of that movie money for nothing inside the Federal Reserve. Jim, welcome to the program. Ive often said that i think that ben bernanke is the most powerful man in the world. Most americans dont know much about the Federal Reserve. Is your movie critical of the fed . We do take a critical look at the fed. We try to have a balances perspective and try to get the fed credit during different times in its history. When it got things right, but if you look at fed history there are a number of times its gotten things wrong and we take a hard look at that and try to show people the impact of fed policy, you know, not just on our economy, but on peoples lives. Do you take a position whether or not the fed should be apolished. A lot of libertarians want it gone. They dont like this thing. Do you take a position on that . I think we dont, we dont call for the end of the fed, but we do question its current policies and question whether theyre on the right path. Whether theyre creating another perhaps bigger problem, if you look at the last 15 years, since the stock bubbled in the 90s, each time the fed responded to a crisis theyve created a new larger crisis. So, we definitely call into question the path theyre on and what theyre doing, but i think if you look right now at the role the fed is playing in the stock market, theyre the biggest player in the Mortgage Market and the biggest player, they own more Government Debt, almost twice that of china. If you say lets get rid of the fed, thats a tricky question. Youre not right for ap abolition, you dont like the current policy. Thats your position . Yeah, we look at the ill effects of fed intervention and we question that and we, you know, the goal of the fed, you know, theyre trying to smooth out the economy, smooth out markets and if you look at the markets and the economy the last 15 years the results arent good. The trouble is if the fed were more open and people knew a great deal more about the fed. If they were elected, for example, youd have real trouble, wouldnt you. Whats happening now, any fed govern or her mouth and says anything and the stock market is jumped around all over the place and the poor individual investor left in the dirt because they cant anticipate what theyre going to say. I mean, theres a do you really want the fed to be much more overt and tell everybody exactly what theyre doing . You want that . I mean, i think what we call for in the film is really for the fed to try to do less. I think with the fed intervening in markets as aggressively as they have in recent years, i think you question whether we have a market. Do we have a stock market if all investors are doing is reacting to government policy . Thing one of the things the film calls for is a return to more market based economies in the different sectors the fed is involved in, whether its Government Debt or housing, theyre printle 500 billion a year for mortgages. Do we have a Housing Market or are we sort of moving toward a centrally planned economy with the fed playing this bigger and bigger role in i think they say theyve gotten it wrong so we should be wary of a small group of people trying to really determine these big, you know, these big markets. Stuart welcome to the debate. Its a debate we have fr frequently on Varney Company and youre now part of it. We wish you the best. Thanks for having me. Stuart okay, forget what russias president Vladimir Putin says. After the break, why america is an exceptional nation, my take on that is next. Last week we showed you the long lines. Maybe a bit of a pr stunt. I dont know. Theyve got big numbers now. Apple sold 9 million new iphones over the weekend. The stock is up. The Financial Times reports citigroup is taking in less money from trading. Could hurt profits. Investors dont like it. And thats the Third Largest bank in america. The new york giants laid yesterday, Brian Kilmeade picked them to win. Well check our picks from last week, guess who won, myself or brian . Plus the irs scandal not going away, but do not tell that to the Mainstream Media. Stunning numbers how little theyve covered the scandal, nothing for months. Is measured america an exceptional country . Here is my take, yes, it is. I dont care what putin says. I have the experience of my own the evidence of my own experience to go on. I have lived in this exceptional country for 40 years. You could say that i am proof of this exceptionalism. Tell me, where else in the world can a guy with a very foreign accent, someone who was clearly born and raised someplace else go on tv and tell people whats going on in their country . Try that in germany, china, japan, or france. America is exceptional because it has a rule book, the constitution, designed around the principles of liberty and freedom and america has stuck to those rules, above all, america is exceptional because it allows individuals the freedom to make what they can of themselves. Ive lived in england, australia, east africa, hong kong. Step ashore in america and you can see the freedom, the inclusion of people like me. In 2011 a pew poll asked europeans and americans will individual freedom versus state guarantees that nobodys in need. 58 of americans wanted individual freedom. 60 of europeans went with welfare security. The same poll asked if success in life is determined by outside forces beyond the individuals control. In germany, twothirds said, yes, we are in the grip of larger forces. In america, twothirds said, no, the individual still calls the shots. And here is my concern, yes, in my opinion, america is an exceptional country, but does that poll from 2011 still hold in we are led by an administration that doesnt seem to be passionate about individual liberty. We have policies that make the state the arbiter of freedom and the provider of a massive welfare safety net. Our sense of what we are may be shifting. Thats not good. [ woman ] if you have the audacity to believe your Financial Advisor should focus on your longterm goals, not their shortterm agenda. [ woman ] if you have the nerve to believe that cookie cutters should be for cookies, not your investment strategy. If you believe in the sheer brilliance of a simple explanation. [ male announcer ] join the nearly 7 million investors who think like you do face time and think time make a difference. Join us. [ male announcer ] at edward jones, its how we make sense of investing. Amelia. Neil and buzz for teaching us that you cant create the future. By clinging to the past. And with that youre history. Instead of looking behind. Delta is looking beyond. 80 thousand of us investing billions. In everything from the best experiences below. To the finest comforts above. Were not simply saluting history. Were making it. How old is the oldest person youve known . We gave people a sticker and had them show us. We learned a lot of us have known someone whos lived well into their 90s. And thats a great thing. But even though were living longer, one thing that hasnt changed much is the official retirement age. The question is how do you make sure you have the money you need to enjoy all of these years. Pope talks money. It gives you dig it be but money is not a god. Obamacare is reshaping the work place and it is not good. The broadcast Networks Ignore the irs scandal over the summer nothing changes. Grand theft auto 51 billion in sales as the entertainment leader and a foreigner gets the ball right . He thought the giants would win but he will be back with us today incredibly. Checking Dow Jones Industrial average virtually flat now look at apple. 9 million space phones sold over the weekend and sold out until next month. 200 million downloads of the operating system 480 on apple. Three fed governors speak today and anyone could move the market. When the new york fed jerry hinting or she thinks they should keep the Printing Presses rolling walk meanwhile we learn more the kind of chairman g and the eln apparently has a more strict managerial style if she became the chairman. Do you think she would crack down on the fed governors talking of removing the market . The market is planning more of the same if it is yellen she was one of the architects of the quantitative easing the fed is employing some not only is expected to continue that policy but she is also out or the dovish to push the stock market to the alltime highs so traders expect to see more of the same if it is her. Stuart item no hall of the small investor should compete with the daily statements from fed governors speaking about printing. How are they supposed to react . You are headed the game what about the small one . They are not participating in the rally. That is the problem. The little guy has not even got into the rally yet because they are so scared is artificial the feds Monetary Policy is pushing them back to where they are. The individual investors are waiting for fundamentals to catch up in that never happened so he has not benefited. If you ask how they deal with these intraday swings they are not that is part of the problem. Stuart think you very much it is a flat line right now with two big names are moving right now netflix and the stock is over 300. Did did move this morning as soon as he felt they got in any for house of cards it is Netflix Netflix own programming will lead to a new high of 320 it has pulled back but what a performer up 230 with. Stuart that is still above 300. Microsoft will try to crack the tab the market with the surface to Everybody Knows i own that stock and how was it doing . It is not making any dramatic moves today but they are moving ahead with the surface to we know how well the first one did, not that well they have 4 percent of the Global Market in this area. He essentially says put people at the heart of the system, not many. He says work is dignity. Get people jobs unemployment was 50 percent so that is a big number. Stuart i follow many i like to make many i want to see it move freely but i dont worship at. There is a confusion just because you want a vigorous dynamic capitalistic system based on profit does not mean the worst of money were shipped many. But at the heart of socialism and communism we see more mass killing in the extreme poverty under communism and socialism so id like to see those comments i think he would agree. I went to confession friday night for the first time in the priest said are you sure you are done . [laughter] i said the you charge commission . [laughter] the jesus applauded those with money. Then it is one to see more comments about what works Even Harvard University said socialism and communism cause extreme poverty and mass killings over the last century. Stuart i would like to see christian leaders say at of the economics of politics. He talks about defending the pour also. Stuart i think we are in agreement. The Mainstream Media completely ignoring one of the biggest news stories of the year with zero mentions of the irs targetting scandal since july. Media Research Center joins the company. Is that accurate . They have not even mentioned it theft . It is fascinating because if you look at the scandal compared to watergate there is no comparison. You have one of the greatest abuses of federal power ever review use the most feared arm of government against the people and you see one revelation after another that the irs gives promotions and the evidence that they are going after the tea party. We saw the evidence lois lerner who pled the fifth insisted it was cincinnati operatives when in fact, the email said do not give it to them but their higher ups they were illegally getting files promising to return them and destroy them but now keeping them. We learned never going aftertax exempt organizations mentioning obamacare. Get the last time cbs covered any of this was 60 days ago. Nbc was june 27th, 88 days ago. Abc, june 26, 89 days ago. None of them have covered anything i just mentioned. Stuart moving to obamacare to decent to defunded how is the media treating this story . What about the many . The many that republicans will cause a shutdown of the government but in fact, if you look at the actual language as passed by the house it funds everything in the government except obamacare. It would be the senate that would cause the shutdown of the democrats, not the republicans. You are getting it wrong. Stuart what i say is if the government is shut down it is the republicans that get blamed because the established media will make it so. That is the case but it is a selffulfilling prophecy. It will happen but the republicans will always live under that but the reality is for republicans it is something the majority of americans want so where is the risk . Stuart in my opinion if we should down the government we are dead right to say the established media will blame the republicans and they will pay a political price and that will be paid in 2014. I want to win in 2014 to reverse economic policies that are restricting the private sector. But there rewriting history saying the republicans will have tremendous losses even after the shutdown even though it was bill clinton they lost two house seats. To. But republicans pledged to do this they are in the majority because they promised and theres something about principle that matters when this is your last shot and ask any republican who doesnt white the idea what is your other plan . I think it will collapse on itself no federal government and history has ever collapsed on itself. Stuart i take your point to the extent the discussion mirs my household my wife is on your side. [laughter] we will live to fight another day. Blackberry to be put this on deathwatch . Well get it now. There really has been under pressure and friday was as halfday for shareholders trading was halted only later to find out they will take a 1 billion charge for the latest quarter that was atrocious. All be in the west today one day late to flash the target the latest phone did not meet expectations they can now with a 30 but they will drive the company away from the consumer going straight to businesses because that is there best drinks with stability and reliability also highsecurity for e mails than they will try to go with that 578 per share. Obamacare changes the way businesses operate. Not an a good way. After the break and a perfect excuse to play of speaker policy. You have to pass the bill to find out what is a net away from the fog of the controversy [ male announcer ] now, taking care of things at home is just a tap away. Introducing at t digital life. Personalized Home Security and automation. [ lock clicks ]. That lets you be cloto home. Thats so cool. [ male announcer ] get 100 in instant savings when you order digital life smart security. Limited availability in select markets. Stuart wait until you hear this authorities seized more than 1 ton of pure cocaine from a flight arriving from venezuela to was packed in 36 cases with the estimated street to value of 270 million. French officials call this the biggest bust ever in paris. Why would they do put a ton of cocaine in 36 cases . Unless they thought the airline is so bad with security. Becketts my attention. Of big change for the dow today with the Dow Jones Industrial average bank of america, hewlettpackard is out the be set and Goldman Sachs are all down today. More proof obamacare is bad for the economy killing growth 71 of all smallbusiness owners say odours it is less likely to make them hire in not crossing over the 50 employees threshold. Right now the ceo of express some poignant from Kansas City Fed chairman welcome back. I want you to go through how obamacare changes the workplace. Number one is that creating more parttime jobs . It is. Because of the factor. That is what we do. We have 400,000 temporary employees but the industry is growing because the company say we will make a commitment of the fulltime employees to put them on a temporary basis. Stuart you are one of the biggest in america and you were telling me employers are going for parttime people under 30 hours the obama is used that way . Thats correct. Stuart what happens if they bump up against the 50 threshold . They will put number 51 04 52 on a temporary payroll that is why our industry grows so quickly. Stuart do they really say i have 40 collins more . They say you take all employees he will not be in the Government Resources the Human Resource businesses they cannot afford the government regulations for the overhead so they say take them all and we say that is not in your best interest the kgb the core values of your permanent employees. Stuart they say take them all . What do they want you to do . They want to make them all temporary employees and consequently they dont have to have the Obamacare Health care cost. Stuart tell me why the Participation Rate of those who could work but are not why is that rate down so far . Led deals have quit looking for work they have been discouraged if you look at the taxpayer financial benefit programs they make more money by staying at home then going to work so consequently theyre not looking any more in the baby boomers carla king did not have the skill level needed to come back. Stuart no work and they are not looking. But it is going to the older people because they have the skills . And a good work ethic we are challenged with younger people do not have a good work ethic. Stuart are you saying they are lazy . No. They just have not learned how to work in a normal business environment. And consequently they have trouble passing the drug test coming getting their ontime, and the work ethic is not there in has not been taught but the staffing industry is the tried before you buy system so we try to help them to teach them what they need to be successful in the business world. Stuart this is fascinating. Come back again. Watch out hollywood there is a new kid on the block. Grand theft auto just sold 1 billion in a few days. That story in a moment. vo you are a business pro. Maestro of project management. Baron of the buildout. You need a permit. To be this awesome. And you. Rent from national. Because only national lets you choose any car ithe aisle. And go. You can even take a fullsize or above, and still pay the midsize price. aaron purrrft. vo meeeow, business pro. Meeeow. Go national. Go like a pro. Theyre the days to take care of business. When possibilities become reality. With centurylink as your trusted partner, our visionary Cloud Infrastructure and Global Broadband network free you to focus on what matters. With Custom Communications solutions and responsive, dedicated support, we constantly evolve to meet your needs. Every day of the week. Centurylink® your link to whats next. Amelia. Neil and buzz for teaching us that you cant create the future. By clinging to the past. And with that youre history. Instead of looking behind. Delta is looking beyond. 80 thousand of us investing billions. In everything from the best experiences below. To the finest comforts above. Were not simply saluting history. Were making it. Bjorn earns unlimited rewas for his Small Business take theseags to room 12 please. [ garth ] bjors small busiss earns double miles on every purchase every day. Producdelivery. [ bjorn ] just put it on my spark card. [ garth why settle for less . Ahh, oh [ garth ] great businesses deserve limited reward heres your wake up call. [ male announcer ] get the spark Business Card from capital one and earn unlimited rewards. Choose double miles or 2 cash back on every purchase every day. Whats in your wallet . [ crows ] now wheres the Snooze Button . Stuart apple the stock of the day pulling back from the opening high. Is sold 9 million dash ounce of the weekend. That is a record and soldout and telmex month now 200 million phones use the i was operating system. Netflix stock opened at a new high now it has pulled back. Why . Talking to traders people just take profits it is not a huge fluctuations and it is a 300 stock so moved up to new highs but since it has pulled back but the biggest news is the fact it is television delivered online receiving the first and the ever in this format. We are used to hbo breaking bad actually credited netflix the least some of their success anybody that missed the episodes go back to check it out. Stuart streaming has arrived in his American Technology police in the money. Case closed. Grand theft auto five pulled in 1 billion in sales of less than one week more than every single blockbuster in hollywood released this year what lessons can tolerate hollywood learn . I overglazing gold your name. [laughter] i am sorry. Paul,. That is perfect. Stuart what lessons can hollywood learn from the video Game Industry . It has to look in their Rearview Mirror the movie industry is so used to being out in front in december was up record breaker but still a video game earnings week 1 billion in three days but the price point is higher for each individual game but the 250 Million Development cost it is extremely violent, it looks almost like a movie the way the develop the games to look like movies the light is blurred it is amazing. Stuart it looks so lifelike and you control the characters. It is now winning at this moment. Chinese billionaire announced plans to build the Worlds Largest movie studio he broke ground and bring in the biggest names in hollywood at the groundbreaking will now beijing give hollywood and bollywood a run for its money . They could. The development of content is all over the world but the good news is it can be distributed by all types of Delivery Systems talking about netflix and streaming it is a very important component in the way to bring this to everybody because you dont necessarily have to go to a Movie Theater although i do believe that is the best way to see that content. But smaller filmmakers it is a way to get content seen by a lot of people. We have so many options. It depends how you want to view it, a delivery system, the options are almost endless so lets get the apple iphones. People are looking at the being on their iphone, movies, the Movie Theater, television, and now today you have more options than ever before. But if youre going to see a real movie go see it in the Movie Theater. That is the best way. Stuart are you hollywood. Com . [laughter] i do have a dog in that fight. [laughter] stuart the chinese billionaires spent 50 million to get those stars mini a list the actors he spent 50 million getting them to the Ground Breaking studio for that yvette yvette. It could. I say that i think if we can develop content from anywhere if somebody wants to invest 50 million of 500 million in a new studio it is good for the industry with more competition if you can afford to get the new stores stars, why not . It is the marketplace. Stuart si see you again soon. Forget about Vladimir Putin america is the exceptional nation and the judge will react to that we are exceptional because we have a rule book designed around the principles of liberty and freedom. America has stuck to those rules and above all america is exceptional because it allowed individuals the freedom to make what they can and of themselves. Nice car. Sure is. Make a deal with me, kid, and you can have the car and everything that goes along with it. [ thunder crashes, tires squeal ] so, what do you say . Thanks. But i think i got this. [ male announcer ] the allnew cla. Starting at 29,900. Stuart my argument against Vladimir Putin america is an exceptional nation because we have a rule book called the constitution and we stick to our principles. Sounds like a top bid for none other the man who is laughing. He will take peon and things that i made mistakes. I see we are exceptional because we have rulebook and we have stuck to the rules say you dont think so . The nsa knows we havent because they know what you said as you were typing your statement before you even hit send because they can capture the keystrokes on your computer in violation of the constitution and in violation of federal bodies and their charter but yet they can get away with it and do so in the name of keeping a safe because the government has hoisted the canard by giving and freedoms we will be safe and therefore we should disregard the constitution. Stuart any other examples where we are less of an exceptional country . Usually goes you may recall one of the reasons we fought against your ancestors because youre british could write on their own search warrant they would authorize themselves to interfere with no judge. We wrote the Fourth Amendment because of the patriot back does it lets the agents write their own search warrants. It is not easy to defend Vladimir Putin he is of trainmaster and a killer in as far as we believe he has murdered people but even a stopped clock can be right to times a day if he means the idea that by geology and geography and history and values the Company Country is exceptional i agree but human beings who are born here have more right than anybody else said dick cheney version than that is to be condemned. We all have the same rights they recognize more rights than russia but we dont have more human rights or sense of morality than russians theyre just more repressed. Stuart any time in American History when the constitution was followed to the letter as he wanted . Unfortunately it was the old one that authorized the slave trade and so when that jefferson and Jackson Administration and later the Grover Cleveland the administration it was but today one could not seriously argue in your story is a Great Success story because the fact that you speak differently you still have triumphed in your work shows and open this year that does not exist elsewhere. But that has nothing to do with a government that is the attitude of people. The government wants us to conform. You say the way the constitution was applied back then. When we did have slavery but in that era the Commerce Clause was narrowed interpret lead when dash interpreted loosely because they could not regulate the conditions of the factories where they were produced. Stuart we will not go back to a day where there is no income tax or Federal Reserve. We need to pull back from where we are because we are marching to totalitarianism myth the nsa can continue to get away with spying and sharing the information with other governments and with other entities like the fbi and the irs then it is just a piece of paper because it is not a rule book spirit people to say that nsa has to respond to congress but their real problem is the contractors that work for the nsa. The real problem is the nsa has been authorized by a secret gaggle in congress the intelligence committees by law are prohibited from telling us what they know to engage of massive violations of the Fourth Amendment and have coopted the judges on a secret court to do this. Congress has never debated in the court is afraid to discuss in public because they allow People Like Us to no. That is what the discussion of the constitution has become. Stuart if we find out how the new is because of government surveillance and spying we will get rid of it and deflate the problem in this country will go gungho to make sure we spy on citizens. But every which went finds a which and when unrestrained. Stuart i see your point. It leads to totalitarianism. Stuart be practical. A newt is a new is a new peace 1 million dead. The odds are so small you want to give up everybodys freedoms . Tell me when they have found the new. Stuart in the future of will certainly we will have very high style powers who have a newt to have powers over a. What you just said the constitution that you just praised as a rule book if you dont care we dont follow it. There should be a way around the problem of surveillance of citizens to discover a new and do it constitutionally. The most uniquely american part of the constitution the far the Fourth Amendment the right to be left alone you want to get rid of . A way to get around directly intruding who are not under suspicion. There would be a way around it. Dont tell the lawyers cannot find a way around so it is constitutionally sound but that is a defect because it should restrain the government. Stuart discovering a new car before it goes off as a strength. Having a freedom is the greatest weakness. You always get the last word [laughter] one of the best conversations we have had in a couple of years. Stuart really . Viewers . What do you think . Been if there was so many corbels quotations. Thank you very much. Actually knowing something about nfl football . But who got a wrong . We will follow up after the break. They made fun of me. If you have a problem you think the redskins will beat detroit . I think they will win because the redskins are still not win hedger . The detroit people have a highpowered offense. You are wrong. Dont laugh. Stop laughing at my picks. [ male announcer ] imagine this cute blob is metamucil. And this pk is the inside of your body. See, the special psyllium fiber in metamucil actually gels. And that gelling hes to lower some cholesterol. Metacil. 3 amazing benefits in 1 super fiber. Stuart Airline Passengers could be playing a krieger that take off according to the New York Times as a panel is preparing to implement new rules allowing the use of personal Electronic Devices during takeoff and landing. They to go into effect next year. Military forces mounting an assault in nairobi a group of terrorists armed with grenades stormed on saturday leaving at least 60 dead and 150 wounded. The latest diaphone is lacking in that department to square trade that provided damage insurance tested the new phone finding it did not hold up to every day abuse as well as the previous model. Nfl picks bathetic. A back in a moment. Me by clinging to the past. And with that youre history. Instead of looking behind. Delta is looking beyond. 80 thousand of us investing billions. In everything from the best experiences below. To the finest comforts above. Were not simply saluting history. Were making it. Stuart who knows more about football . The brits on soccer or the American Sports guy . Brian joins us now. Last friday he made three picks for the weekend Football Games and suggested the giants would win the. [laughter] how could you get it so wrong . It was just weeks number one of the marathon season we will wear servile tshirts during these picks so the first game the giants lose to carolina they barely lost it was a heartbreaker. Okay they lost 38 o. But to be useless offensive play but i am flabbergasted. I am stunned that the loss. Stuart did we get the rest of your picks . What else did you get wrong . I got right the point spread. The redskins over the lions . I got that right. I do this. And that is truly pathetic. I have not watched might entire life watching sports i grant i am one out of three in you hailing from of the case spending more time from new zealand coming out to three games . This is just one week i thought he could run out of the packet and with the game that we embrace but it hasnt happened nothing is working at the gridiron capitol hill or happened in fair. Please make three more disastrous picks . Am i going against the company or party . I am not. A passing interest in chelsea but my real interest is american football. Is not true. In next week i will run the table i guarantee. Do i have to tell you everything . M i a missionary . That was fun. I will see you again on friday. Think you for turning on the. [laughter] stuart go earn some money. Just a few days away from the government shut down in ms. Nancy pelosi says there is nothing left to cut from the budget. Is just their coverage. That is what she says. [ male announcer ] now, taking care of things at home is just a tap away. Introducing at t digital life. Personalized Home Security and automation. [ lock clicks ]. That lets you be cloto home. Thats so cool. [ male announcer ] get 100 in instant savings when you order digital life smart security. Limited availability in select markets. As president obama considers meeting with the new iranian president. We have the prospects of those stocks with high rates and tonight at 7 00 p. M. Eastern. Join us. Stuart that is called sarcasm. Do you want to cut the budget allotted republicans want to make cuts in to the 4 trillion spending bill but according to dnc policy there is nothing left to cut there is no more cuts to make. It is important that people understand that. Stuart du understand that . Liz has three areas to make big cuts right now. 900 billion of federal Office Buildings of empty buildings even the white house said there are 14,000 federal buildings including warehouses that could be sold that they did not sell at the top of the market they could sell them to walmart or target. Stuart 14,000 . Even the white house shows that on its own web site. 200 billion of government waste and duplication spread across all agencies defense, energy, labor, disl ocation and so cut that out bring that out of the cash register. Is 63 we have spending of the menu to eaton things on the planet of mars or Climate Change musicals. Also the 21st century pork barrel tax code. Stuart none of this will happen in the . This is still the alternative world with more tax hikes and spending because that america is growing at the teaser rate so why not borrow and spend more . Stuart we do have more in just a moment. We promise. Peace of mind is important when youre running a successful business. So we provide it services you can rely on. With centurylink as your trusted it partner, youll experience reliable uptime for the network and services you depend on. Multilayered Security Solutions keep your information safe, and secure. And responsive dedicated support meets your needs, and eases your mind. Centurylink. Your link to whats next. She took an early spring break thanks to her double miles from the capital one venture card. Now what was mrs. Davis teaching . Spelling. Thats not a subject, right . I mean, spell check. Thats a program. Algebra. Okay. Persons a and b are flying to the bahamas. How fast will they get there . Dont you need distance, rate and. No, all it takes i double miles. [ all ] whoa. Yeah. [ male announcer ] get away fast with unlimited double miles from the capital one venture card. Youre the worlds best teacher. This is so unexpected. Whats in your wallet . Stuart earlier i gave you my take on whether or not america is truly an exceptional country. Here is what some of you wanted to know. You talk nfl picks, but what about city . You are referring to the shock of the soccer wor. Why is there so much emphasis on sports on a Financial Program . Football alone is ten again dollarndusy. That ihurud i ntesd in. Liz, you are still here. Are you proud of me . I think this is a onetime event. Stuart that is a slam. How dare you. No one in this audience is smart enough to put their money where their mouth is. I just proved you wrong. That was a brilliant performance. We are out of time. Dagen thank you very much, stuart. New york Federal Reserve president phil dudley is the latest to talk on the economy. Republicans try to cut off the spigot to obamacare. The Big Companies who pay their employees the most. That did not take long, the first reported hack on the new iphone. All that and more on this hour of market now. Dagen connell is not here, unfortunately. He is already at the imus golf outing. Time to go to nicole petallides