Transcripts For FBC Varney Company 20131119

Update, theres more trouble. The website will not be 100 ready november 30th. Students getting cancellations numbers now and youll hear testimony today that hacking your personal information is childs play. Varney company is about to begin. Ya know, with new fedex one rate you can fill that box and pay one flat rate. I didnt know the coal thing was real. Its very real. David rivera. Rivera, david. [ male announcer ] fedex one rate. Simple, flat rate shipping with the reliability of fedex. The president s signature achievement back under the microscope back on capitol hill in the next hour, we will show you whats going on, but first, just take a look at the new poll numbers from the Washington Post and theyre bad. 57 say they now oppose obamacare. Flatout. And a whopping 63 say they disapprove of the president s handling of that rollout. And now, weve got news this morning of, yes, another wave of cancellations. College students with School Sponsored Bare Bones Health plans are losing that coverage. These plans dont meet the standards of obamacare and now students across the country are forced to ditch cheap coverage and buy more expensive insurance that they dont want, dont need and cant afford. Its going to be tough to get those all important youngsters signed up to put money into obamacare. The economics are collapsing from within. More headlines for you, quickly, lets go. Online Storage Company drop box looking to raise 250 million. If successful, dropbox would be valued at 8 billion. Double the level of 2011. Walmart is facing charges from the National Labor relations board, says that walmart threatened workers who were striking on black friday last year and judge napitano responds to that. Strong arming by the government. To capitol hill. Topic one, will the exchange be up and running by the end of the month . No, not completely. Number two, how secure is your data if you sign up . Not secure at all. The top of the hour those two hearings. The dow crossing 16,000, but we have a lot of chatter out there talking the markets down, including talk from billionaire investor carl icahn. Well deal with that in a moment. First, a controversial call at the end of the patriots game. Brady to gronkowski, a flag thrown, the refs decided no penalty. Carolina wins 2420 and mr. Brady upset, look at that. . Like, really big. Then expanded . Or their new product tanked . Or not . What if they embrace new technology instead . Imagine a companys future with the future of trading. Company profile. A Research Tool on thinkorswim. From td ameritrade. Well, did you know that just one sheet of bounce outdoor fresh gives you more freshness than two sheets of the leading National Store brand . Who knew . So, how do you get your bounce . With more freshness in a single sheet. So, how do you get your bounce . Sometimes they just drop in. Always obvious. Cme group can help you navigate risks and capture opportunities. We enable you to reach Global Markets and drive forward with broader possibilities. Cme group how the world advances. No two people have the same financial goals. Pnc works with you to understand yours and help plan for your retirement. Visit a branch or call now for your personal retirement review. Ricky dont lose that number you dont want to call nobody else theyre very good at picking the right song with the right lyrics because there are a lot of numbers in the news, obamacare numbers, poll numbers, dow 16,000, alleged manipulated jobs numbers. Were going to talk about all of that today. Lets bring in Scott Shellady from chicago. Now, look, scott, market watch, barons, carl icahn, theyre talking the markets down. Do you listen to the background chatter . No, but some people do. Every now and then the market is allowed to go lower at some point in time, but its a lot different this time around, stuart. Stuart 1996, Alan Greenspans exuberance and Ben Bernankes apathy, where are the media and the news crews . We dont have them. Stuart to you it all goes back to printing money. How much and when do we stop . Thats what its all about, right . Thats what its all about printing the money and its going to continue to happen. Stuart okay, youve got it. Youve been right so far. And the dow industrials have opened ever so slightly lower. Were expecting a gain of 10 or 15 points and were down 3 as we speak, that now up a quarter point. 15,976 is where we are now. And we often use home depot as a kind of economic indicator. The housing recovery has given a profit boost to that company and sales are also on the upside. Nicole, the stock please. Nicole the stock is at a new high. I was looking for the analyst comments as well. The stock is at a new high and both home depot and lowes have been the bright spot. In home depot, the samestore sales on the rise, transaction volume higher and raised their outlook for the year. This is up 3. 1 is , a new high and a dow component. Stuart they were helping the dow move early on, back almost to 16,000. Ive got a couple of retailer stocks to show our viewers, Dicks Sporting Goods made more than the allknowing analysts thought it would make. The stock is up 24 . Down 17 cents this morning. A strong profit at best buy, however, the company warn they might make less money in the holidays because of the competition, look at that. The stock takes a hit. 6 down just because of that warning. 40 bucks on best buy. Perhaps this is why there are rumblings of a tech bubble. Just look at the online Storage Company known as dropbox, it was valued at 4 billion two years ago, now its latest round of fund raising could double that value, 8 billion. And thats you know, its 221 employees, thats it. Dropbox is a cloud company, lets you store your photos and other data and share with other people. Okay, so thats 8 billion dollars for a company with 220 employees. How about that . Look at the other social media stocks. Facebook and twitter on the upside today. They were down big yesterday after barrons warned about that tech bubble, especially the media, internet media companies. So facebook and twitter back up just a little this morning. All right. Moving away from the markets, in the final jobs report before the president ial election last year. The Unemployment Rate fell miraculously from 8. 1 to 7. 8 . Maybe that gave president obama an edge over mitt romney. Shortly before it was released jack welch tweeted this, unbelievable jobs numbers. These chicago guys will do anything, cant debate so the numbers. And quoting an anonymous source, the New York Post now reporting that the numbers were manipulated by the census bureau, its a highly contentious report with Anonymous Sources. I want to bring art laffer into the whole employment picture here. I dont want you to comment on the post report, art. Thats over there, shall we say. But look, the Unemployment Rate did take a dip right before the president ial election and its not recovered i mean, the Unemployment Rate isnt recovered to that low level that we used to have. Give me your comment on this drop right before the president ial election. Well, i have no idea literally why that drop occurred, stuart, but what i do really problem is whenever any aspersions are cast on organizations like the bureau of labor statistics and the census bureaus and government institutions that transcend political partisanship and transcend this president , that president , the other president , whenever they go after these institutions it puts a huge crack in the foundation of america. These insidious politicalization virus thats hitting these things is really a shock to the foundation of what you can and cannot trust coming out of government. You know, its not really, stuart, its really not whether its true or whether its false. Stuart yeah, right. Its whether its plausible and right now with this politics going on, with this white house and this congress, and i really do put it at pelosi and reid on this, but theyve made this political. The mra plausibility is there. Its awful. Stuart remember, art, youve also got the irs scandal. Thats what i mean. Stuart that was government used to intimidate. And the nsa as well. Its pervasive, this whole politicalization of everything. And that will kill us more than any political party, any obamacare, any of the other stuff. I mean, when we were there, i was in the white house during the Nixon Administration and the one thing we never, never ever questioned was the validity, the value, the concreteness of the numbers that came out from bls, from census, from these. They were rock solid, done with, without bias, without prejudice and done correctly. When you start questioning these organizations youve got the very foundation shaken, to my way of looking at it. Stuart well said, art laffer. Thank you for coming on board, we appreciate it. Thank you very much, stuart. Stuart lets get to obamacare. According to documents released by the house, energy and commerce committee, the Obama Administration was warned as early as march of this year about potential risks with the rollout of healthcare. Gov. Two hearings on this next hour. One about the security of the website itself and your information, and two, the effort to fix the website by november 30th. Congressman leonard lance, republican from new jersey joins us now. Congressman, im saying there is a 30 chance that obamacare will be just fully repealed because it seems to me, it is collapsing from the inside. May i ask what odds you would put on it . I think those are good odds and certainly, i think it should be repealed and replaced and unfortunately, the president does not agree with us on that issue, but the fact that the websste is a complete debacle and beyond that, the substance of obamacare, i dont think its going to work and i think that its becoming more eminent with each passing day, stuart. Stuart now, there are two hearings today. One is going to say, look, hacking into your personal information is childs play, i believe thats a direct quote. And the other suggests by november 30th, the obamacare website will not be fully, 100 operational. This is more damning evidence, isnt it . Certainly the American People should be concerned about our personal security. All of us who are americans and thats a critical issue. Regarding the november 30th deadline, i do not wish for its failure, but i suspect that it will not be fully operational by november 30th and i think it should not have occurred beginning october 1st because we now recognize that private consulting groups indicated to the administration that there would be significant problems regarding the website. Stuart and some people were to be fired, would that in any way satisfy you, sir . That certainly should be examined and let us suppose Chris Christie, my friend and colleague were president of the united states, certainly he would have taken charge and be my estimation that heads would leader who could work with both sides, such as governor christyie has done in new jersey and we need that for the presidency and we dont have that at the moment. Stuart thats a solid plug for Chris Christie and his aspirations in 2016. Im a strong supporter of Chris Christie and i hope he decides to run for president and if he does i will be among his vigorous supporters. Stuart one question, republican tactics as obamacare falls apart. Are you going to stand on the sidelines and watch it implode . We suggested that the mandate delayed for a year and when the business mandate comes online we expect there will be many more americans who will not be able to keep their Health Insurance policies and at the very least, it should be delayed and obviously, i favor its repeal and replacement. Stuart congressman leonard lance, republican, new jersey. Thanks for joining us, sir, we do appreciate it. Thank you, stuart. Stuart so some breaking news from treasury secretary jack lew. Lew tells the wall street journal that the debt ceiling should be raised way in advance of the february deadline and also speaking of the vo called volcker rule that limit what a bank could trade in, lew says when in doubt regulators should e. Rr on the side of more financial regulation. Those comments made at a conference. The ipad air, ipad mini, you can bet they will sell well this holiday season. Which is the smart buy . Our tech geek tells us after the break. You tell me that its evolution well, you know, we all want to change the world when you talk about destruction dont you know that you can count me out clients are always learning more to make their money do more. ann to help me plan my next move, i take scottrades free, inbranch seminars. Plus, their live webinars. I use daily market commentary to improve my strategy. And my local scottrade Office Guides my learning every step of the way. Because they know i dont trade like everybody. I trade like me. Im with scottrade. announcer ranked highest in Investor Satisfaction with selfdirected services by j. D. Power and associates. [announcer]. If you think the best bed for one of you might be a compromise for the other one. [woman]ask me about our tempurpedic. 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Stop taking spiriva and seek immediate medical help if your breathing suddenly worsens, your throat or tongue swells, you get hives, vision changes or eye pain, or problems passing urine. Other side effects include dry mouth and constipation. Nothing can reverse copd. Spiriva helps me breathe better. Does breathing with copd weigh you down . Dont wait to ask your doctor about spiriva. Where is the price of gold this morning . I will tell you, 1,236 per ounce, were up 3 bucks this morning. Got a stock for you, Campbell Soup cut its full year profit forecast after a drop in demand and they take that down 6 , Campbell Soup. Urban outfitters warnings of a tough holiday season. Could be forced to have more discounts. Investors dont like that. Down 2 . Apple releasing two brand new ipad models, i believe, is that right . Are they two brand new ones . Absolutely right. Stuart hold on. Go for it. Stuart ive got this okay. The new full size ipad air and a brand new ipad mini with a High Definition screen. Rush is here, and youve got them with you. That one youre holding there. The air. Stuart thinner, lighter . Lighter, thats the big difference between this ipad and the last ipad and this is the ipad mini with a retina, they call it the super highdef screen. Stuart right, whats the smart buy for our viewers. Its easy, there are two big differences, the ipad mini is cheaper and the difference is the size. Its a question of what are you going to want to carry around every day. Me personally i like carrying around the ipad mini, the size of a kindle, not super heavy, totally easy to slip into any sort of bag. But maybe i have vision problems or Something Like that, not saying about you, but other people maybe. Stuart go ahead, did you hear that . They might want to opt for a larger screen. Stuart in the tablet marketplace, youve got the Microsoft Surface and google is out with the nexis. Samsung the galaxy tablet. Do you think that apple, theyre tablets. Yeah. Stuart with the mini and air, do you think theyll dominate the tablet market . I think they have a good shot. The air is selling well, better than the previous ipad and theres an element of people wanting apple devices, theyre the goto device. Stuart still cool . Absolutely. That being said, google and their, you know, Android Devices are starting to catch up to apple in terms of market share, in terms of that cool factor as you call it. Unfortunately, windows is really microsoft is struggling with the surface. A lot of their eco system is not up to snuff and hoping that the tieins with the xbox later this week will make a difference. Stuart apple, the tablets from tap apple, thats where its at this holiday season. I want to move on to something called dropbox. Youre familiar with it. Absolutely. Stuart theyre raising money and the price at theyve raised it, 8 billion. Theyve got 221 employees and theyre brand new, fresh out of the box. Do you think theyre worth 8 billion . I dont personally think theyre worth that much money. I think what youre really running into, this is a company that offers a valuable service, which is storage online and share links and files all over the country. And i use it for work. That being said you have companies coming into the space, like microsoft with their take, its called sky drive. Essentially the same thing, but once you start having a lot of Companies Offering essentially the same product, its just brand loyalty at that point. Stuart so ive got my brand new iphone. Well, brand new. Stuart its a 4 s. Maybe a little old. Stuart okay, now if i went and got drop box on this thing i could put my music up there in the clouds, store it there. Sure. Stuart video, photographs, store it up there, i pay for the service and storage . Drop box gives you a free to start with and eventually pay for it. And anybody want to share the music, give them the password and thats part of the tech bubble isnt it. 8 billion for a company. I completely agree its overvalued, but theres a lot of demand for this product in particular. The problem is anyone that has the Service Space and technology know how could do the same thing. Stuart if i upload, is that the expression, upload music into the cloud im not using valuable memory and Storage Space in my little 4 s. You could stream it right to your iphone if you wanted to. Stuart so thats a plus. Thats a plus, a benefit. Stuart you use dropbox all the time. Yeah. Stuart why dont you use the sky drive from microsoft . Its relatively new. Stuart help me. Charles ill work on it, sir. Stuart last question, the xbox from microsoft. Charles youre going to get it. Stuart youre all right, i dont care what they say about you. You can come back. Thank you. Stuart thank you very much indeed. And calling into president obamas credibility, the irs scandal, maybe some bogus numbers from the Labor Department on unemployment and of course, the obamacare rollout disaster, my take on all of that as the dow drops 14 points. How do you like me now how do you like me now, now that im on my way you still think im crazy, standing here today i couldnt make you love me, but always dreamed about living in your radio how do you like me now we know our viewers and we know that you do not like all of this money printing by the fed. Well, in our next hour, one of the architects of the money printing policy says hes sorry. Thats right, a former fed official will apologize, plus, Brian Kilmeade is here talking about his wildly popular book on George Washingtons spies. How much money will we make for him by the number of books that we sell here on varney . I want a piece of the action. Theres something not quite right about last years president ial election. That unease is taking a toll on president obamas popularity and his credibility. Here is my take. Three issues have surfaced that suggest manipulation and deception ahead of last years reelection of president obama. One, the intimidation of conservative groups by the irs. We havent gotten to the bottom of that yet, but there is clear evidence that the president s political opponents were, shall we say, leaned on. It did affect the vote. Two, obamacare, the president knew that millions of people would not be able to keep their health plan they hiked liked. He didnt tell us because it would have cost him a lot of support. His deception clearly affected the vote. Third, today there were reports that the job numbers were manipulation in the president s favor before the election. The Unemployment Rate did indeed drop below the all important 8 level. Add all of this up and you have an election that was affected by what used to be called dirty tricks. Its beginning to rub off on the president. His Approval Rating dropped to a new low for his presidency and his growing signature obamacare. And his credibility is in freefall. His opponents should not be cheering, its not good when americas president loses the trust of the countries. All right, i know this is wishful thinking, but im going to do it anyway, repeal and replace obamacare, cut tax rates, go get the energy, which is ours, return to individual responsibility and freedom. Do all of that, mr. President , and you could bask in the glory of prosperity and liberty, the way america ought to be. My mantra . Family first. But with less energy, moodiness, and a low sex drive, i saw my doctor. A blood test showed it was low testosterone, not age. We talked about axiron. The only underarm low t treatment that can restore t levels to rmal in about 2 weeks in most men. Axiron is not for use in women or anyone younger than8 or men with prostate or breast caer. 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See the ecial psylliumiber in metamucil actually gels to trap some carb to help maintain healthy blood sugar levels. Metucil. 3 amazing benefits in 1 super fiber. Tooth stuart tuesday, november 19th 11 days until the obamacare web site fix and the government is about to admit that, no, it will not be fully ready. But hold on, a lot more where they came from. An apology from the man who first cranked up the printing presses. He says its not helping you. Of hes with us today. The judge details union strong arm tactics to squeeze money from walmart with government help. You can bet hes got a comment on that. So where do the 1 ers live in and around washington, d. C. , the seat of. Weve got a report on that. The Holiday Shopping season, not good says the guy who represents the big retailers, and he will be here. And we have more on the charge that the government manipulated the jobs numbers right before the election. All government, all the time on Varney Company . Oh. [laughter] stuart relax, everybody, weve not gone to the other side. Dont worry. [laughter] whats wrong with the other side . Everything. All right. Two big hearings on obamacare taking place on capitol hill, one will focus on whether or not healthcare. Gov will be ready to go by the end of the month. It wont, of course. The other looking into security flaws within the web site. Heres rich edson. All right, rich, lets deal first of all with the readiness of the obamacare web site by the end of this month. What are they going to tell us today . Reporter well, Administration Officials say theyre working on it, its getting better, and for most people by november 1st it will be operating. But republicans say theyve got a document showing consultants warned officials including hhs secretary Kathleen Sebelius of significant technical problems with healthcare. Gov this april as the administration was promising the site would be up and running by october 1st. The white house says officials acknowledged there were red flags, they never thought it would be this bad. Stuart ill bet they didnt. All right. The second hearing about the privacy of the information you put out there, is it safe . What are we going to hear on that . Reporter well, republicans say they have a hacker testifying, someone who they say works for the good side, he hacks for companies to find vulnerabilities. The hacker believes he found a way to get customers personal information, and hes going to tell us how not exactly how, but tell us somewhat how in the next hour or so. Stuart glad we dont know exactly. [laughter] reporter right. Stuart pay close attention, rich. Thank you very much, indeed, rich edson. To the big board, were up 18 points just shy of 16,000. All kinds of talk about the markets heading down. The word bubble has been used compared to technology stocks, market watch, barrons, carl icahn. Theyre talking the markets down. I want to bring in charles and sandra on this. Sandra, first of all, youre out there in chicago, what do you make of all this talking down the market . Doesnt seem to be working today. Reporter i dont know if you could necessarily say that carl icahn is talking down the markets. I mean, hes really, you know, the voice of the markets this general right now, the voice of investors who have been questioning whether or not we can hold on to such a rally. I mean, were looking at about 3. 6 Earnings Growth for the s p 500 this quarter versus last quarter. Charles payne is going to argue that renders the stock market rally that weve seen. Stuart, however, carl icahns point is taken very seriously, and that is that the low Interest Rate environment is largely helping out the stock market rather than the management of these companies in particular. So hes just questioning whether or not the feds easy money policy has artificially brought us to this point in the stock market which is a reasonable question to be asking at this point. Stuart yes, it is, sandra. Whats your response b be, charles . Sandra already answered for me, but ill try. Carl icahn said that that easy money was manipulating the bottom lines. I dont connect those dots. I dont know how the if im selling pizza how easy, fed easy money is manipulating the bottom line. So if the im lumber liquidators, how the fed easy money is manipulating bottom lines, or if im operating a restaurant, cracker barrel, how does the fed easy money manipulate my earnings per share . I dont know how that work withs. I dont know how carl icahn came to that. Also i disagree with sandra as far as him being the voice of individual investors. Individual investors are not giddy about this market. This is the most unloved stealth rally in the history of the market certainly since ive been watching it and, of course, anyone could say of course it could come down. Of course it could come down. Its going to come down at some point. But what about all the people that have spooked people out . My biggest beef is someones going to try to take a victory lap after theyre missed 10,000 dow points but also ignore the point that they kept millions of americans out of this market because theyve equated the market simply to the fed when theres so much more to corporations and business in general. Stuart well said, charles. Lets get tesla. I think its up a little bit this morning, but its still way down from its high, isnt it . Reporter well, thats right. The high was at nearly 200, now its at 125. 60. Theres a gain today of 3. 3 percent but, of course, this could be a little bounceback. Number one, the stock is down 20 for the month of november. Number two, elon musk has come out with strong words about the safety of tesla and continues to talk about its safety overall despite the fact that nhtsa which is the national Highway Traffic Safety Administration opening a limb their look, a preliminary investigation as to why there were three tesla fires in six weeks. Stuart hold on a second, nicole, because i want to tell our viewers exactly what elon musk, the guy behind tesla, heres what he tweeted just a few minutes ago. Why does a tesla fire with no injury get more media headlines than 100,000 gas car fires that kill hundreds of people per year . What do you say to that, charles . Theres a lot of reasons for that. First of all, theres a lot of animosity. When someone is big like that, elon musk, hes on the cover of magazines. In america we like to build be people up, break them down and let them come back to life. I find that these professional shorters have a lot of friends in the media. They have ways of getting negative stories out there when theyre heavy short positions that tend to hurt stocks from time to time that get them out there all the time. And i see them with you look in any stock with a short position over 30 , and youll find an extraordinarily large amount of negative media coverage. Stuart really . Yes. Stuart we dont do that on Varney Company. Never close to that. Weve discovered this thing called fair and balance a while back. And and if we stray, the judge will set us straight. Stuart were going to get to the judge right now, i do declare. Sit up straight. [laughter] yes, father. Stuart the national be Labor Relations board says walmart unlawfully threatened its employees after taking part in a walkout on black friday last year. Walmart will probably end up settling. The money they pay out looks like look, it looks to me like a politicized prosecution of an unpopular company by the government. All rise, the judge is here. What do you think . Well, i say that the nlrb is such a blatantly political body, no matter which president is in office. Under this president it is filled with nominees from labor unions. Under george w. Bush it was filled with nominees from management, and it shouldnt be that way. The purpose of the nlrb is to provide a neutral forum for Labor Management disputes. Thats the baseline. The forum is no longer neutral. The forum now mirrors the ideology of whoever the president is. Now, in this walmart case do they have the right to black out on walk out on black friday . Absolutely not. Does walmart have the ability to discipline them . Of course it does. Do they have the right to march many front of the building and engage in prounion labor activities even though walmart is probably the largest nongovernment employer in the country that is not unionized . Yes, they do have that right, and they cannot be punished for it. But when the nlrb is deciding what theyre being pubbished punished for, refusing to work on black friday, theres no intellectual credibility to that judgment. Stuart its entirely politicized. Precisely. Stuart walmarts unpopular with the unions, with the administration walmart is loathed by the nlrb. Let me tell you something, if the judge hates one of the litigants, the judge has to get off the case. When the nlrb starts out disliking walmart because there are no unionization, it cant be fair to walmart. Stuart do you agree walmart will almost certainly settle, the money will go to, i guess, what, the individuals . The nlrb cannot award damages, it can only award back pay. So if walmart did not pay or docked the pay of hundreds or thousands of workers who walked out on black friday, the nlrb can order them paid for work they didnt perform. Now, you could argue that thats damages, but its really pay, and theyre going to be taxed on it. They cannot award [inaudible conversations] yes, yes, it does encourage it almost legalizes walkouts. Under this nlrb, yes. Under a more neutral nlrb it wouldnt and shouldnt. Even though i oppose the administrative and regulatory state, the concept of a fair the nlrw was a decent idea because it removed from the courts which take a long time to resolve these thing and put it in the hands of experts the ability to resolve quickly and definitively these disputes. But when it becomes so onesided, always prounion, always promanagement, nobody gives it credibility, and the people who win rejoice, and the people who lose say we didnt get a fair shot. Stuart this administration is always antiprivate enterprise. Yes. Stuart tail beat up on the banks, the investment firms, health care insurers, Drug Companies and walmart. And one of the weapons of doing that beating up is the nlrb. Stuart its the machinery of government which they will employ in a partisan way, and it should not be applied in a partisan way. Thats an opinion. But i dont think thatll change because the republicans want to be able to do it when theyre in power, and the democrats want to be able to do it when theyre in power, so the law is written so that the president can put anybody he wants there. Suiter stuart i think youve gone over to the other styled. What do you speak of . Stuart i cant define it. Anybody who disagrees with me. [laughter] in other words, a real crowded space. Yes. Stuart you want to qualify my opinion . Never. Stuart thank you, judge. Pleasure. Stuart red flags went up after the Labor Department announced a huge drop in up employment from august to september in 2012. It was the final jobs report before the election. Shortly after the number was released, jack welsh, no less, tweeted this unbelievable jobs numbers. These chicago guys will do anything. Cant debate, so change numbers. Varney company regular ed bear tow sky had this to say back then. When you have 600,000 people that are counted as employed when theyre really either parttime workers or volunteers, that ticked that number down. I dont think you going to see that replicated in this number again. Stuart now we have got a highly contentious report citing Anonymous Sources now i saying that jobs report right before the election was manipulated. What do you say to that, charles . Ive got to tell you, the author of this article, fantastic. They talk about one guy this particular, a guy named Julius Buckman who was caught, i guess, faking some of this data, but apparently he said he was told to make up information by higherups at census. It sounds eerily like some of the other scandals that weve heard where pressure came from higherups to do stuart but thats only one person. Thats only one person stuart he does not name the higherups who allegedly told him the source does say, quote, hes not the only one s. Its one of these things where the source is anonymous. I think the bottom line is weve got some reporting thats matching what we all call common sense. So its all kind of dovetailing together, but its after the fact. Its almost like Everything Else leading up to the election stuart hold on, you could also say that the decline in the Unemployment Rate was the direct result of hundreds of thousands if not millions of people dropping out of the work force. Thats what pushed the rate down, not so much manipulation of the numbers. Although, you know, when you make up numbers and you make up numbers in a way your bosses would like, that helps as well. Yeah, we know the economic miracle of our lower Unemployment Rate has been millions of people abandoning the job market. Stuart do you want to make a comment, judge . Yes. Depending on the format in which he released those numbers, he may well have committed a crime because if he swore to the act accuracy of them, he committed perjury. Knowing they were wrong but believing his bosses one of whom was running for reelection he committed a crime. Suiter stuart thats interesting. And guess who decides whether or not to prosecute . Your favorite attorney general, mr. Holder. [laughter] dont hold your breath. Stuart judge, thank you very much, indeed. A new study by Harvard University and the university of pennsylvania finds that College Students who cheat are more likely to go to work for the government. [laughter] you making this up . Stuart no, im not. Researchers asked students to roll a pair of dice and report back the numbers. Those students would be paid more if the numbers they rolled were higher. They found that those p students with abnormally high numbers were more likely to want to pursue a career in government. Make of that what you will, but its from harvard and the university of pennsylvania which are pretty good institutions, judge. They are. Stuart thats all youve got to say. [laughter] smart guy. The warning are out. First, morgan stanley, then the National Retail federation itself. You wont be spending as much year on your Holiday Shopping. Thats what they say. We go straight to the source after break. You really love, what would you do . Woman ]you really love, whatid be a writer. [ man ] id be a baker. [ woman ] i wanna be a pie maker. [ man ] i wanna be a pilot. [ woman ] id be an architect. What if i told you someone could pay you and what if that person were you . When you think about it, isnt that what retirement should be, paying ourselves to do what we love . Paying ourselves to do what we love . Stick with innovation. Stick with power. Stick with technology. Get the flexcare platinum. New from philips sonicare. Yep. Got all the cozies. [ grandma ] with n fedex one rate, i could ll a box and ship it r one flat rate. So i kn untilt was full. Youd be crazy not to. Is tt nana . [ male announcer ] fedex one rate. Simple, flat rate shipping with the reliability of fedex. Hmm. Mmhmm. [ engine revs ] [ male announcer ] oh what fun it is to ride. Get the mercedesbenz on your wish list at the winter event going on now but hurry, the offer ends soon. [ santa ] ho, ho, ho [ male announcer ] lease the 2014 ml350 for 599 a month at your local mercedesbenz dealer. For 599 a month [ bagpipes and drums playing over ] [ music transitions to rock ] make it happen with the allnew fidelity active trader pro. Its one more innovative reason serious investors are choosing fidelity. Get 200 free trades when you open an account. Stuart walmart is upping the black frie a week in advance, matching competitors deals a week early. At 8 a. M. On this friday, walmart will cut prices of some of the most popular toys and electronics to match the offers from target, toys r us and best buy. And if you buy something at walmart, then you find it cheaper someplace else, show walmart the ad, can and you get a gift card with the difference. One of the reasons why best buy is down today, the company is making it will make less money this quarter just to keep up with promotions like you just heard look at it go down 9 . Thats a huge drop for that stock. The National Retail federation has predicted that fewer people will trek out this year versus last year for the Holiday Shopping period. The National Retail federations Vice President dan butler is with us this morning. Thanks very much for diswoin joining us. A lot of these numbers can be wooly, and trends can be difficult to get to grips with. Are you telling us that this Holiday Shopping season we will spend less money than we spent last Holiday Shopping season . Well, when we polled our consumers, the consumers told us that they intend to spend slightly less. But what weve also seen in previous years as most years, the consumer actually spends more than they plan or they actually hope to, and so what we think youre going to see is a airily promotional heavily promotional holiday season. Retailers are starting earlier because there are six days less between thanksgiving and christmas this year. Retailers plan for that, and theyre really hoping to entice the consumer to spend more. Were still looking at a 3. 9 increase over last years holiday sales, and we think thats still very healthy. Suiter stuart okay. Im getting a mixed message here. Do you think that the discounts being offered are bigger than last year, and theyre offered earlier than last year . Well, i think theres more promotion, but i think what you have to remember is its not necessarily about the biggest markdown or the lowest price. The consumers looking for the value they get for the price they pay for the product. So the consumer is much more savvy than ever before, they have more information thanks to their access to the internet, and theyre making wiser choices and theyre more discerning. Its really more about the price and value equation, if you will, than just the lowest price or the biggest markdown. Stuart really dont you think for some popular items Like Electronics especially theres a straightforward price deal . Ill buy my ipad where i get it cheapest, its as simple as that, isnt it . Well, sometimes on a specific item it can be that way, but generally across the board the consumers looking at all items whether its something that they really need as a basic need or a luxury item. Theyre looking for the best value for the price they pay. So it depends on what theyre looking for out of that particular product. And you do have key loss leaders or key items that are maybe put out for the public at a lower price in order to draw them in the store with the hope that buy other things in the store and do some additional shopping this the store. Its not just about the individual items if theyre geared toward bringing you in the store. Stuart we used to call those loss leaders back in the old days. Let me sum it up, you are looking for a 3. 9 increase in the amount of money consumers spend this holiday season, and that to you would be a so so season, correct . Well, we actually think thats a healthy, respectful increase over last years sales. Thats a healthy number and a number that the retailers would be happy with. Stuart well, most of them are up today except best buy. Thanks so much, indeed, dan butler, appreciate it. Charles, whats this . Youre going to make us some money with a company thats based in china . Yeah. For the longest time we were using things like caterpillar as a proxy for china. This is a different kind of china, its not about building bullet trains, but really internal demand. One of the areas i think is going to do really well is the Life Insurance industry. The first half of business was absolutely phenomenal. They found a great business, up 225 yearoveryear, individual businesses up 8 this is a very well run company, they added almost 10,000 extra employees, theyve lowered their acquisition costs, their administration expenses, and its run conservatively, you know . Its a real company in a place where wealth is starting to spread and people want quality Life Insurance. Stuart youve just recommended this company, you like the stock, today its already up 3. Youre saying that the numbers are really good, the outlook is really good, itll go up some more above and beyond absolutely. Stuart the 3 gain today. Absolutely. Stuart its not too late to chase its not too late. Im asking subscribers to buy and hold. Stuart a lot of our viewers see something go up 3 , oh, thats it. If its a trading play, yeah. But anything be i mention on the show i think is going to be a minimum of a 10 move. Suiter stuart really . Yeah. Institute institute now he tells us. The online Storage Company drop box, could it be worth 8 billion after barrons warned that a tech bubble is coming or were in it already . Well discuss dropbox, a phenom, next. [ female announcer ] tide pods threeinone detergent. Pop in the drum of any machine. To wash any size load. It dissolves in any temperature, even cold. Tideod pop in. Stand out. Stuart moveing a little bit heighter ae speak, 16,010 is where we are now. Good numbers at salesforce. Com, the stocks moving lower, its been up 30 this year, now its down 3 percent. All right. Be are we in a tech bubble . Look at online Storage Company dropbox. It was valued at 4 billion that was two years ago. Now its got some fundraising going on that values the company at 8 billion, and we understand its got only 221 employees. Liz . Yeah. This sure feels bubbly. I cover corporate accounting scandals at the wall street journal. I still talk to my sources in the i have and on wall street. They say theres a selective bubble, tiny little bubbles breaking out in tech. So dropbox, 250 million in sales, applied valuation is now 8 billion. We saw, charles and i were just talking at the break, how hp bought a competitor for a fraction of that, hp bought a competitor at just two billion be. The valuation were talking about with dropbox, its about 40 times the valuation was. They had the same revenues as dropbox, but dropbecomes valuation is 40 times stuart because its now. Were in the bubble. Right. Stuart so everybody understands, so i do too, if ive got my little iphone right here and ive got my music on it, hi pictures, my i videos, etc. , etc. , i can store all of that up there in the cloud, and other people if they wish and i wish they can have access to my music, videos and photos. Yeah. Stuart dropbox is storing it for me. Now, they charge me, but other people have access to it be i want them to. Right. Its an exciting business model. Thats thrilling, right . Amazon, google, microsoft, also coming into this space as well. So the deal is how do you make money off this . Listen, weve got cheerleaders on the air on our competitors who drive me nuts when they say, this is great. Buy in this ipo. If its good if you get in on the first floor, not on the fifth floor. Stuart do you say that facebook and twitter are highly inflated . I say well, the markets taking off some of those floors put in both those stocks. What im saying is this, for a tech company to turn itself into a verb like googling, it as to be a necessity. It cant be based on ephemeral, fickle teenagers who move to the next thing and who do not have the purchasing power to buy, you know, tvs or cars or even white ware like washing machines. So cool as a business model, its always dicey when you have competition breathing down your neck. Stuart inflated values, charles . Im talking about dropbox at 8 billion, twitter, facebook, do you think its inflated . It is inflated. The argument is how fast would it take these guys to get to the bottom line numbers that would justify it. Traditionally, the market is a forwardlooking device. Youre buying future earnings and profits and, of course, theyre not going to get there in a traditional amount of time. Its going to take them a lot longer. But, you know, it is a game and, you know, we were talking, e. Mac and i, about the fax that there arent fact that there arent so many out there and its slated at these kind of high fliers. Maybe as we do get these ipos, maybe the market will correct itself. I dont know if well ever get to the stage where we have snapchatting as a verb stuart that was 3 billion. They rejected it. They want more. Thats right. They want more, right. The advertising universe is finite, its small. You can get a chunk of the online ad revenues but with the twitter valuation, that was coming in at a third of the 120 billion in online ad revenue. So, you know, thats really striking. Stuart the one point id like to make is these highflying technology companies, all american, they concentrate wealth. Snapchat has, what, 20 employees, and its worth 2, 4 billion . 221 employees. Stuart for dropbox, about 20 for snapchat. Thats the concentration of wealth. Its not the creation of mass employment. Yeah. Its got to make policymakers crazy because manufacturing is where you make job growth. Where you have smaller Tech Companies with tiny work forces, right . Popping out all over the place, youve twot the rethink the business model. Stuart its so exciting. King lud is coming out again. Stuart me . Smashinn machinery in the youre right though. Listen, its a legitimate question where were going in this country because even with the 3d printer, you think about 20 years from now how advanced that will be, do you really need production lines i actually like your new name, ned varney. [laughter] hes upset. I apologize. Stuart you cant upset me. [laughter] all right, the feds keep on printing, dont they . The markets keep on rallying, dont they . After the break one fed official saying hes sorry the money printing didnt work. Hes going to, plain himself after this. No two people have the same financial goals. Pnc works with you to understand yours and help plan for your retirement. Visit a branch or call now for your personal retirement review. Stuart back to one of the big stories f the day, youre going to hear a hot about this, congress holding two hearings on the obamacare web sites security and its failed rollout. First, though, look at these new numbers weve just gotten in from the Washington Post. 57 a whopping number now say they oppose flat out obamacare, and 63 say they disapprove of the president s handling of that rollout. What do you thats a political statement, essentially. Thats got political reverberations. What do you say . You know, listen, i agree a thousand percent, and it seems though that the administration has gone down this line even with the press conference last week, the president sort of alluded to his apology which was, you know, in the middle of an interview with one guy, and he was being pressed. It wasnt the same sort of, hey, rose garden celebration, this is the greatest thing in the world, or, hey, lets have that 8 00 at night address to the nation. Wheres the true, honest mea culpa . The president still is like you picked something that was substart, im going to pick something better, and every day something more comes out. How about mckenzie saying you guys are making a mistake stuart they said it in march. Early this year. Stuart and they said it in meetings with the people at the top of the tree. I mean, the i should have their names. They had, um im sorry, ive lost my notes here. But, essentially, it was the top people in the administration who were being told in march of this year this thing aint ready for prime time. Ideology and ego has driven this entire process, and even people who may be your fans understand that theres a time to step back and consider the end user, in this case the american public. Stuart well, hes paying a price for it. You know, im always going on how the Federal Reserve just wont stop printing money anytime soon, that is my opinion. Were joined by a former fed official who says andrew, welcome to the program. Thank you. Stuart you executed that operation, i believe, you helped execute it, and now you say youre sorry. Why . Well, its my first apology to america, hopefully, itll be my last. [laughter] stuart we hear you. But in all seriousness, the reason why i apologize is because five years ago i believe we had a major wakeup call in this country with respect to the structure of our economy and the Banking Sector that has gotten too big, and five years later the structure of our economy looks eerily similar. We have 2 of banks controlling 70 of assets in this country. And i believe ultimately the fed and i in helping the fed, we helped squander a very critical opportunity to tool our economy. Stuart tooth okay. Lets go back to day one. The start of the moneyprinting operation. You cranked up the presses, you put the money into the Banking System. At first wasnt that successful this stabilizing the Banking System . That was a success at the time. Yes. Stuart so why having youve gotten mild success there. Why did you keep on printing two, three trillion more dollars . What was the thinking behind that . So to your point exactly, at the beginning you have to realize where the economy was. We were still in a freefall. Two million americans had lost their jobs in the Fourth Quarter of 2008, 2 gdp contraction. Qe1 had two purposes, to help the banks delever by buying bonds off their Balance Sheets stuart and it worked. It worked. Stuart you stabilized the system. So why print another two or three trillion . The other issue was it was supposed to help average consumer by getting credit into their hands, making credit more accessible to them. And what i what i talk about in my piece is that we saw that that wasnt working. And so, you know, there had been a net decrease in lending, in mortgage lending the program i worked on, during the time i worked on it for the 15 months. And so i believe at this point thats where the mistake was made. Continuing q with qe. Stuart but why was it making . If it wasnt getting the economy moving, what was the thinking behind keeping printing . So, you know, we live in a crisisdriven political system at this point. Structural changes probably need to happen, but congress is gridlocked. So i believe the fed thinks that its the only game in town here and that it really needs to help create growth, and even though it isnt perfect, its the only one that has some ability to try to influence the situation. Heres the frustration, and by the way, ive heard bernanke sort of echo what youre saying, like if we can get any fiscal help, maybe we wouldnt have to take these crazy monetary risks. But from a main street perspective, why do we have to put so much money into saving a handful of big banks . Why are they buying 45 billion a month in junk from banks . Why do they keep coming ahead of the american lick, yet we all risk an implosion if the feds Balance Sheet boils over . I believe in the fed, and i believe they are smart, well intentioned why do banks come ahead of main street . The fed can only work through the Banking System, so by pumping money into the banking is sector, it is hoping to have this impact on the economy. And the issue stuart okay. Real fast now, when do you think theyre going to quit printing . I think its an open question. I think a taper may happen, theyre talking about march at this point, but the idea of putting this tool away with a economy thats chronically underperforming, we could be looking at this indefinitely haening. Stuart ah. All right. We watch the market go up. Thank so much indeed, andrew. Thank you for having me. Stuart its called George Washingtons secret six, the spy ring that saved the american revolution. Its brian killmys new book, and hes going to be with us about that book, next. vo you are a busins 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 in the 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. Became big business overnight . Like, really big. Then expanded . Or their new product tanked . Or not . What if they embrace new technology instead . Imagine a companys future with the future of trading. Company profile. A Research Tool on thinkorswim. From td ameritrade. Stuart the national Highway Traffic Safety Administration announcing it will be launching an investigation into recent fires that destroyed two tesla model s sedans. Teslas chief, elon musk, down playing the fires saying theres no reason if for a recall. Teslas stock is at 125, way below its high. Google agreeing to pay 17 million to 37 states and the District Of Columbia to settle charges that it tracks customers on line without their knowledge. Google says it discontinued the racks early last year, is working hard to get privacy right. Check the stock, googles down 63 cents at 1,030. Some Retail Stocks in the news, look at best buy down big. The company worried about competing with deals from competitors like walmart in the christmas season. Best buy down 9 . That is a huge drop. Home depot, a dow stock, up 2 . [ male announce] imagine this te blob is metamucil. And this park is the inside of your body. See the special psyllium fiber in metamucil actually gels. And that gelling helps to lower some cholesterol. Metamucil. 3 amazing benefits in 1 super fiber. Stuart Brian Kilmeade is with us, hes got a new book out called George Washingtons secret six, and it is climbing the New York Times best sellers list. Good to have you with us today. Can you hear me okay . Stuart, i hear you great. Thank you very much for the slow. Stuart ive got some rapidfire questions. First of all, how much does the book cost if i buy it on amazon . Im not sure because when it became a best seller, it got decreased by, i believe, 21. Barnes and noble, about 31. But if you order from my web site, ill autograph and send it to you. Stuart okay. How much do you actually get for each copy of this book that is sold . You personally . Not much. Stuart okay. And for every extra book that we sell through Varney Company, what will be my commission . I will put it towards your wardrobe budget. [laughter] and thats what im going to do. Im going to upgrade the personal im going to give that tailor the tip they need, because Stuart Varney so big, they show up with a bunch of swatches, and they say, imagine, mr. Varney if any of these squares of material could become a suit, and he puts his head up to the sky and imagines Stuart Varney in a beautiful, tailored suit. With my book revenues selling so well, we can afford it at varney and company, and the crew can all get raises, a round of applause for the crew who i believe are underpaid. [laughter] stuart enough of this. Going nowhere. This is a true story, isnt it . This really was George Washingtons secret service. He had them, right . Yeah, he did. And and it was called secret service, but i thought secret service to us means security. And we think about keeping somebody safe. These, this was a group of people who were asked to be spy and spy on the british. See, there was one decisive in the war, it was the battle of week lin, and it was so bad for washington, he knew he could never face up with your british trips again head to head. He had to outthink them, outsmart them. Sos able to escape miraculously, and i chronicle with this fog that came out of nowhere that allowed him to get on a bunch of civilian crafts and get into manhattan. He said ive got to get new york back. We are right now, but i cant do it by outfighting the british, because were outnumbered nine to one, and you guy withs were much more experienced, and were essentially a bunch of well meaning, tough farmers and merchants who just wanted their freedom, so he said i have to anticipate them. So they had to put spies in manhattan. They were able to look at the correspondence between washington and these spies and reconstruct three and a half years of the war, and, stuart, ive been working on it since 1992, since we got the deal two years ago with don yeager, ive been trying to hash it out. And i think we brought new intelligence and new information to it. Stuart yeah. And i was just fascinated to pursue it. Stuart look, brian, congratulations. I didnt realize you had such a broad range of interests. I knew you were big in sports and allaround news coverage, youre big on that. I did not know you were a historian at the same time. Congratulations. Now, the book really its a great story. Thank you. Stuart and the book really is up there in the charts, the bestseller list, isst it . I mean, im just stunned. I knew, i wanted it to sell, i hoped it would sell, but i never had any idea buzz like this. The frustrating thing is that pension wish sentinel, we were all caught by surprise, so just be a little bit patient. Thousands are flooding into the stores, and the holidays arent even here yet, but by the end of the week, were going to get them out front and center. The its a good problem to have. Stuart real fast, give me 20 seconds on how you found out about George Washingtons spies. I actually saw they were commemorating when George Washington came to long island to thank his spies in 1890, and i asked the guy to retrace the path. I said, or what are you doing . He said my paint washes away, and were just doing this quarter mile. And he told me about the spy ring, he pointed to another historian, i went to the library, and and aye been pursuing it whenever i could ever since and talking to some great people who are historians who really know this stuff inside and out. Stuart you know, i might just get out there and buy one and read it. Thats a very good story, brian. Congratulations, just terrific. Thanks for being with us. Thanks so much to you, stuart, i appreciate it. Stuart ill take the Commission Check later. Thank you very much. You got it. Stuart all right. You might think the 1 , they all live around wall street, dont they . Big bankers, the hedge fund millionaires, you might be surprised so know where the fastestgrowing section of one percenters really is. Hint, it is not in downtown manhattan. Well be with you with the details next. On the need to fix our broken immigration system, there are signs both Political Parties in washington get it washington is lagging behind the country on this. This issue has been around far too long. And yet, we wait. Reforming our immigration system would dramatically reduce our nations debt. Grow the economy by 5. 4 . And take bold steps to secure our borders. On this, both parties say they agree democrats. We are very very strongly in favor of moving immigration reform. And republicans. We do want to make some progress in reforming our broken immigration system. And yet, we wait. Americans are tired of empty rhetoric. It is time for every leader to come through on their promise. And fix our broken immigration system Tell Congress the time is now. Fix americas broken immigration system. Dow 16,000. Now we know it can be done, weve got to keep it. Wall street legend, bestselling author jim rogers on the idea that its still not too late to buy in. Join us tonight, 7 eastern. Stuart in the last decade, the d. C. Metro area added more than 20,000 households in the top 1 of income. Far more than any other area in the country. Why would that be . Government contracts and lobbying wealth. Aint that right, charles . Its right. I mean, listen, d. C. , they dont make anything. Its not like the economic miracle of north dakota or texas with low taxes and job creation both from the private sector. This is just bringing a bunch of tax money, and youve got a bunch of people fighting over how to divvy it up. We were promised this would go away, but, obviously stuart its worse than ever. The numbers are shocking. 31,000 households 21,000 households in the top 1 . Washington, d. C. , a high tax area, the worst income inequality in the area. You take the bottom quintile, the average the bottom 20 , they make an average of 9,000. The top 20 make an average of 259,000. I mean, this is amazing. So all this money is coming in, all these smart people are coming in, but the locals, people who have lived there for two decades, three decades, theyre getting crumbs, if anything at all. Its amazing. Stuart and the three counties with the highest Median Income in the united states, theres three counties, are basically suburbs of washington d. C. Louden, balls church and fairfax. Finish so its just absolutely remarkable. Theyve got 19 of the population living below the poverty line, and ive got to tell you, people who keep voting for this kind of stuff better with careful. Youre not helping. It does not help. This is a crazy situation. We need to curtail government spending. Stuart well said. Good last word there. Your take on president obamas credibility problem. Now, thats next. Hi honey, did you get e toaster cozy . Yep. Got all the cozies. [ grandma ] with n fedex one rate, i could ll a box and ship it r one flat rate. So i kn untilt was full. Youd be crazy not to. Is tt nana . [ male announcer ] fedex one rate. Simple, flat rate shipping with the reliability of fedex. Wow. Look at you. Ive always tried to give it my best shot. These days im living with a higher risk of stroke due to afib, a type of irregular heartbeat, not caused by a heart valve problem. At first, i took warfarin, but i wondered, could i up my game . My doctor told me about eliquis. And three Important Reasons to take eliquis instead. One, in a clinical trial, eliquis was proven to reduce the risk of stroke better than warfarin. Two, eliquis had less major bleeding than warfarin. And three. Unlike warfarin, theres no routine blood testing. [ male announcer ] dont stop taking eliquis unless your doctor tells you to, as stopping increases your risk of having a stroke. Eliquis can cause serious and in rare cases fatal bleeding. Dont take eliquis ifyou have an artificial heart valve abnormal bleing. While taking eliquis, yomay bruise more easily and it m take longer than usual for any bleeding to stop. Seek immediate medical care for sudden signs of bleeding, like unusual bruising. Eliquis may increase your bleeding risk if you take certain medicines. Tell your doctor about all planned medical or dental procedures. Ive got three Important Reasons to up my game with eliquis. [ male announcer ] ask your doctor today if eliquis is right for you. The issues are intimidation of gross by the irs, in limitation of care, and the alleged manipulation of jobs numbers i had of the election. Heres what you had to say about all of this. The g. O. P. Does not seem to have the will to stand up to it. Saying is so steeped in ideology, he will go down with his sinking ship. We are seeing signs he will not taking america with him. And a leopard never changes his spots, he is slick. He lets people think he is changing but in the end he is the same, obama. A lot of people are asking why obama chose not to attend the 150th anniversary of the gettysburg address today. When one person asked white house medications the mac communications, he said this. Oh, i dont know, there is this whole website thing somebody suggested might cease trying the democratic party. That was kind of snarky. Wasnt it . Charles as of the president himself is working on the fix. Give me a break. It does not even begin to describe what we just saw a right there. Stuart you are on a roll. It is yours. Dagen we had kim burns on. Learn the address initiative, every living president including president obama recorded it and it is online. Kyle just reported it as well. Carl icahn throws a cold, wet towel on a hot market. Who is buying what he is selling . Your private information on the obamacare website, some lawmakers want to know how safe it is. And Adjustable Rate Mortgage save money on your monthly home. And selfies word of the year for 2013. Maybe we can convince Connell Mcshane to take one of himself coming up on this hour of markets now. Connell