Transcripts For FBC Varney Company 20141113

Look at this. Another record day for stocks. Of 78 wins for the dow. Look at the s p 500. Just a sixpoint game there. We have walmart. It warns about healthcare costs and taxes. Jcpenney, cue the organ, we think we may put this thing back on death watch. Dreamworks animation. A toy Company Wants to buy an animated movie studio. Dreamworks up 16 . 75 a barrel. That is another almost 3 a barrel low. Gas prices probably have another lag down. The Senate Considers a pipeline built. Right now, the house is you ring up. Do not build that pipeline. They will begin to consider this bill this evening. Tomorrow, they will very likely vote on it and then approve it. On tuesday, we get the boat in the senate. The latest from the white house on that, they say we will consider any sort of proposal that congress passes. This one does seem to contradict. Don thank you very much, and hed. Lets get to what josh ernst had to say. We had indicated that he recommend ito legislation like that. Don Monica Crowley is with us. Rarely do you get an issue that is a nobrainer. This is one of those issues. You have republicans supporting it. You have democrats supporting it. Giving us well on our way to energy dependence. It is a nobrainer. President obamas own state department over the last year has approved it. This is a go. It will not have tremendous environmental impact. The president has repeatedly said no. A billionaire that has put tens of millions of dollars into a democratic candidate. They do not want to lose that money and they do not want to alienate that particular part of the base. Don i think it will go through. I think it will be so hedged with terms and conditions and limits. So hedged with limits that he will sign it. That is what i think will happen. Do you think that is maybe why oil is down . It could very well be. The problem is nobody is thinking strategically. You want to be able to export the oil to countries like china. You want them dependent on you. Stuart of course. This line is for you. The arrogance of the liberal elite. Here we go again. A third video of obama insulting voters. A clever basic representation of the american voter. Stuart why are they hostile towards us . Why do they hate us . Who do they really hate . They despise the american middle class. A limousine liberal. The reason why, you have vast numbers of workingclass people vote for Richard Dixon and ronald reagan. What did president obama say . They cleaned to their guns and their religion did they should be telling people what to do because they understand the world so much. It is kind of like looking down at people. The elitist people in the world are these rich, rockefeller republicans. It is not. Stuart i think that you will see more tapes surface. I think they will be used in congressional hearings. The American People did not go out and study what they thought obamacare was about. It is some beauxarts insurance scheme. The current schematic multiplied by a gazillion. It is worse than what we had before. I am not giving the American People all the plane. The American People did not study this thing. Most people stuart who could understand it . That is the problem. The minute you do not understand it is the minute you should vote against president obama. Stuart this huge group of people that have insurance will pay more and they will pay for this group of people. Either way, what you heard from gruber may actually play in. Dont people actually know that there is no free lunch . Stuart we were lied to. Common sense would tell you that it is impossible. Home and sense. Russia sending fresh convoy troops to ukraine. It is threatening to dispatch to the gulf of mexico. I think they are testing. He is our guide. He has been humiliated. He has been kicked around. I do not like to see that. He has asked for it by his own badior. He has invited these kinds of provocative actions. He started moving in Nuclear Capable material hours before he was standing right beside the president of the United States and china. This is about probing the american president. Probing the American Military and think how far he can get. One of his mandate is to change our position in the world to number one of one of the deep. Jimmy carter did not know what he was doing. This guy actually has a policy goal of weakening us. We should no longer be number one. We should be one of many. Stuart lets get to the markets. There is a big name. We all know it. Nicole record highs. Down three and a quarter percent. Revenues dropped. Sales have been slipping. They miss the analyst expectations. They talked about a few things. Slower store traffic. Highend macys, lowend walmart. Target somewhere in between. The numbers were weak. The annual high is 63. They also said that their expenses rose 2. 2 . Stuart i have a homework assignment for you. Check microsoft. I think it is closing in on 50. Everybody knows i own a piece of it. The state with more regulation has fewer jobs. That is a gasparino exclusive. Look at this. That is a weather map of all things. We feel for you. Which goes below zero in the rockies. Forecast highs. Look at the other maps. It is huge wind chills. Minus 35 in denver. We will be back. [ male announcer ] you wouldnt leave your car unprotected. But a lot of us leave our identities unprotected. Nearly half a million cars were stolen in 2012, but for every car stolen, 34 people had their identities stolen. Identity thieves can steal your money, damage your credit, and wreak havoc on your life. Why risk it when you can help protect yourself from Identity Theft with one call to lifelock, the leader in identitytheft protection . Lifelock actively patrols your sensitive, personal information every second of every day, helping to guard your Social Security number, your Bank Accounts and credit, even the equity in your home your valuable personal assets. 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Call now, and try lifelock riskfree for 60 days. Act now, and get this document shredder free. Thats a 29 value. Or go to lifelock. Com go. Try lifelock riskfree for 60 days and get this document shredder free a 29 value when you use promo code go. Call now. Stuart we still have a rally. Not as big as it was. Look at this. That is microsoft. Retarded territory, charlie. I told to. I told to. I told you. Look at apple, please. That is another new high right there. You have to look at a map at those states. A new study said stop the rags and you gain jobs. Charlie gasparino prod us this exclusive story. It is from douglas holt eakin. Longtime economist. He looked at a bunch of states where they actually cut regulations. You sought to set wage growth. He did a study. Doug is a good economist. There is a margin of error. This one looks pretty solid. It is unequivocal. If you make your stay more business friendly, everything goes up. Look at that map. It is fascinating. There was one state that got crushed. They are on the rise again. That is the lesson here. Look at new york state. All andrew cuomo has done is talking good game on a few issues. Upstate new york is in a depression. Stuart more on that later. I will interrupt for some breaking news. Send it democrat leaders say they have a role for Elizabeth Warren and the new congress. No formal title for her position. She will be front and center. Stop laughing, charlie. A true david versus the life story. Suing the start up for what they are calling deceptive advertising. They make in a glass bead in public without the eggs, you should not be able to call your product may all. Josh makes his second appearance on varney company. You guys, you are messing around with the word mayonnaise. You cannot do that. What is your response . We feel really good about being on the right side of the legal issue. We call it this for a reason. You asked me who our market is. I told you it was mainstream. I think this proves a point. I think it is a big reason why we are seeing what we are seeing right now. Stuart it must contain eggs. You are saying you are not putting out mayonnaise. You are not in contradiction with them. Right. It is correct. There is a much bigger story to tell around this. You have to think about different approaches to feed people better, stuart. Stuart are you some kind of revolutionary . We have to change everything. No. I am a person that believes that regular people should eat better without paying more for it. We have to figure out ways to do that. We have to figure out how to solve our food issues. Lets make normal things a little bit better for people that is more affordable. I think that is part of the reason we are seeing some that apply in the horse and buggy days. Stuart how is the sales growth . I will give you a number that was cited. 50 of the people that purchase our product formally purchased helminths. There it is, stuart. What do you think . Stuart i am not in the business of doing commercials. I will reserve judgment. Okay. Stuart send me more. I have used up all that you have sent me. [laughter] stuart thank you very much. The fox news exclusive with the man that killed osama bin laden. Peter ducey delivers. I remember a quote from george w. Bush. Freedom itself was attacked this morning. Freedom will be defended. I kind of got goosebumps. How in the world did i just remember that . Stuart the ratings are in for the first part of the fox news special the man who killed osama bin laden. Last night we came to hear exactly how members came to face osama bin laden. Roll tape. A sort of grabbed him and tackled them. He laid on top of them assuming they would blow up. He gave his life. I had my hand and i kind of pushed him down the hallway. I turned to the right. With his hands on his wife shoulders behind her was the face i had seen thousands of times. Stuart we will play more from that special. We will create some of your reactions. Check the big board. Backed off just a little bit. I have a big deal. Warren Buffetts Berkshire hathaway buying duracell. The price tag is 3 billion. They wanted to make duracell a standalone company. Two paintings by andy warhol selling for. Box. This is called triple elvis. 7foot tall. Estimated value 60 million. A near 7foot high picture painted in 1966, estimated 60 million. Combine the two. 151. 5 million. The Keystone Pipeline. That is a political football. Democrats are a flooring the will of the people. We will have more from the gop after this. Politics are not involved. Clearly, reid did not care about the jobs created for the families that are struggling. He did care about the leverage jobs. Yo, bro, you on woowoo . Are you kidding me . Everybodys on woowoo [elevator bell rings] woowoo . Lock and load, people were going all in on woowoo mark comp us up a profile page susie write us some posts i want sponsored woos. I want targeted woos. We need an ethnically ambiguous woowoo mascot. Dude. Are you still on woowoo . Naaaahh, man, my moms on woowoo. Iprise asked people a simple question in retirement, will you outlive your money . Uhhh. No, that cant happen. Thats the thing, you dont know how long it has to last. Everyone has retirement questions. So ameriprise created the exclusive. Confident retirement approach. Now you and your ameripise advisor can get the real answers you need. Well, knowing gives you confidence. Start building your confident retirement today. The rally is moderating. We were above 177 earlier. Dow stocks hitting alltime highs. Nike, 3 m, walmart. You probably own some of these stocks. You have a piece of this very nice action. As for oil, 75 a barrel. That suggests that the downside in gas prices will continue. Todays National Average is 291. Where is the cheapest gas in the land . It is still in spring, texas. I want to repeat the breaking news to you. A liberal liaison to liberal groups. No title yet. What title would you give her . I do not know why they are all laughing. Melissa blackburn joins us. No strings attached. Just get on with it. Get on with it. Get it moving. How about that. Elections make a difference. Stuart you will pass the bill tomorrow. The senate will pass its version next week. Then present something to the president. Josh earnest says in all probability, he will veto it. I think it will be wonderful when we override the president s veto. Stuart the votes in the senate . Really . The American People are sick and tired of the games. The American People want to see something done. The American People are tired of Higher Energy prices. They are tired of this. What they want to do is see something done. They do not want china to have access. They want those in the u. S. 40,000 u. S. Jobs direct and indirect combines. Lets get this done. I think you will see it on the president desk very quickly. Stuart okay. I just want to get your take on what senator Mary Landrieu said. They are taking my name off of this bill. This is not about credit. It is not about glory. It is not about politics. It is about getting our work done. Stuart it is not about politics. What do you say . It took politics to force the senate to take this up. It certainly took politics to force the issue of bringing this forward. Now, if she wants to say it is not about politics, that sounds derogative. Elections matter. It is helping us once again to pass it in the house. Stuart welcome back to the show. Good to see you again. A third video of obamacare architect Jonathan Gruber bashing the american voter. A liberal academic elitists that nobody voted for. Calling voters stupid. Guess who is here. Judge andrew napolitano. I would rather be governed by the first 2000 named in any telephone book fan annie at harvard and yelled. Stuart you went to princeton. I know. What i am saying is, we should not be surprised that he believes this. The fact that he has said it has opened up such a can of worms for the democrats on this issue. This statute is before the Supreme Court of the United States. Stuart professor gruber will be called to testify on capitol hill. Even though his words will not be in front of the Supreme Court, the Supreme Court will know that the author of the bill claims it was written with ambiguous language. Whether or not the irs is permitted to grant tax credits to people that live in states that did not set up exchanges. The law can be read either way. If the Supreme Court says no, the irs cannot grant tax credits. It is all over. The project is unsustainable. If you looked at the Affordable Care act as written, it was 1900 pages. 2700 pages. Stuart 2700 pages. Is that what all modern legislation looks like . No. This was extraordinary. Both houses not to read what they vote on. They often have the contentious aspects left out. The professor grubers of this world that right this stuff. Yes. They do not know and they dont care. They have a law and they will enforce it. Stuart this annoys me. Nobody voted for him. He is the guy that wrote this stuff down and deceived us. He was paid the same salary as the president of the United States. Now the democrats are trying to distance themselves from that. He was there when it was crafted. Stuart another example of why you do not like government. Listen to nancy pelosi. Answering questions about professor gruber. Interesting set of observations. One that you skipped is that mr. Grubers comments were a year old. You do not have it in your narrative. That is really important. He is not even advocating the position that he was at some conference instead. [laughter] stuart i do not taint that it is good that we laugh out loud at the former speaker of the United States. She authorized the payment. She and her team hired him. Now they want to making it sound like a youthful and gretchen. I actually met one thing got things to you. Do you think that roberts goes along with the conservative majority . Does he backstab the conservatives on this . I think, just a guess, just a guess from my general knowledge and the way the court works, i think it will be though for conservatives plus chief roberts. Then it is history. If you cannot get that subsidy this is the functional equivalent. They found their constitutional because it was a tax. That is the issue of that ambiguity. Stuart another good segment for the record books. Dramatic events playing out near wall street. Window washers dangling by a single cable. Would you risk your life for 40,000 a year . Father Jonathan Morris on the business of that age old question does money make you happy . So i can reach ally bank 24 7, but there are no branches . 24 7 its just im a little reluctant to try new things. Whats wrong with trying new things . Feel that in your muscles . Yeah. I do. Try a new way to bank, where no branches equals great rates. 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. And cialis for daily use helps you be Ready Anytime the moment is right. Cialis is also the only daily ed tablet approved to treat symptoms of bph, like needing to go frequently. Tell your doctor about all your medical conditions and medicines, and ask if your heart is healthy enough for sex. Do not take cialis if you take nitrates for chest pain, as it may cause an unsafe drop in blood pressure. Do not drink alcohol in excess. Side effects may include headache, upset stomach, delayed backache or muscle ache. To avoid long term injury, get medical help right away for an erection lasting more than four hours. If you have any sudden decrease or loss in hearing or vision, or any allergic reactions like rash, hives, swelling of the lips, tongue or throat, or difficulty breathing or swallowing, stop taking cialis and get medical help right away. Ask your doctor about cialis for daily use and a free 30tablet trial. Nicole i am Nicole Petallides with your fox business brief. The dow and the s p 500 each hit record highs. The dow right now of 20 points. The s p pulling back. Walmart came out with their numbers. Cisco pete the street with numbers and has been very conservative lately. Shrek meets my little pony. Hasbro has been in talks to buy dreamworks. No exact number has been put on this. Starbucks. The new starbucks card is out. Dont worry, it is only 200. The stock is that 77. 70. Stuart dramatic scene at new yorks freedom tower. The scaffold they were on malfunction. New york city firefighters cut a hole in the window. They pulled the guys to safety. Took them to the hospital. We want to know how much you get paid to get on one of those things. We went to window washer salary. Com. There is such a thing. 46,000 a year. Charles this is why i am for privatesector unions. My dad worked on the world trade center, the first one. Not sure how high he went up. Construction work is very dangerous. Unions do help with this stuff. I think they should get paid more, but it does give you the benefits. My father almost lost his life three or four times. You name it. Lots of injuries. Unions are good when there is very difficult and dangerous work involved. Stuart keep those guys safe. All right. Thanks, charlie. Does money buy happiness . New Research Finds people like giving money more than keeping it for themselves. If they do spend it, they rather spend it on and experience rather than something material. Look who is here. Father morris. Does money buy happiness . There is a guy that said have you ever seen a guy frown on a jet ski . [laughter] money does not buy happiness, but it buys things that make you happy. I would say, yes, money and they use can give us pleasure. Pleasure is a part of happiness. It is not. This of happiness. We were created to flourish on every single level. Sense, but also on personal fulfillment. Not even success. Not even success or just money. It cannot make us truly, truly, deep down happy. That was not the answer i was expect ding. Stuart i was expecting a far more spiritual answer. You are at one with you and your lord. Your savior. That is happiness. You are shocking me. Mr. Money man here. You are exactly right. This is very theological. In heaven we call it the internal embrace of god. Our being is completely united with god. That is ecstasy. That is the attitude did that is us at our very best levels. Stuart i will prompt you one more time for a better answer. Shortly we believe as christians that you get back 10 times what you give. I will live for others. That is me at my best. Not just happiness, but joy. Joy. Finally. You are being forced to do it. Stuart he is good. I do not even know who that is. Stuart asked to leave his place of residence. Charlie gasparino and i reminisce. That request [ hoof beats ] i wish. Please, please, please, please, please. [ male announcer ] the wish we wish above all. Is health. So we quit selling cigarettes in our cvs pharmacies. Expanded minuteclinic, for walkin medical care. And created programs that encourage people to take their medications regularly. Introducing cvs health. A new purpose. A new promise. To help all those wishes come true. Cvs health. Because health is everything. I have 40,ney do you have in your pocket right now . 21. Could something that small make an impact on something as big as your retirement . I dont think so. 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I have a lifetime of experience. So i know how important that is. Stuart today is a very special occasion, he was asked to remove himself from his place of president s. Our producers think i am felix and Charlie Gasparino is oscar. I agree. You are a slob. You are slaw. Id take showers, brush my teeth a lot, my office, oscar use to let cookies and catch up. I have seen every single one of these episodes and what is great about this is it was a takeoff of a good movie, but the tv show eclipse the movie. When you think of the odd couple you dont think of great actors, you think of tony randall and jack lemmon. Stuart we have some more odd couples. What have we got here . President obama to have we got here . Peter barnes and rich edson. Charles peter barnes is not sloppy. Stuart who is that . Liz macdonald and charles. The whole picture of charles payne, the teenager right there. Charles i wonder if Liz Macdonald is really stuart i yankees fan. Voters rejected the tax and spend ways of the democrats. Morning again in america . New age of growth and prosperity, dont we all wish . Our 2 moments away. Tein in jellyfish, impact Life Expectancy in the u. S. , real estate in hong kong, and the optics industry in germany . At t. Rowe price, we understand the connections of a complex, global economy. Its just one reason over 70 of our mutual funds beat their 10year lipper average. T. Rowe price. Invest with confidence. Request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. Stuart hope springs eternal on varney and company. It has been so bad for so long we hope the turning point has been reached. We hope the turning point was last weeks election results. It seems to us that the tax and spend borrow even may have run its course. If we are turning away from several generations of failure, that would be a cause to celebrate, wouldnt it . The old guard is digging in its heels, all last desperate tend to rally the left by ignoring the election and ignoring the will of the people and president obama will fight to the last to preserve what is left of his progress of legacy. The writing is on the wall. Failure is failure. People have spoken. Turning point has been reached. Things are looking up. We have real hope for real change. Stuart it is still a rally, not much of one. Now we are up 32 points, we will take it. Six stocks hit record highs, here they are. 90, 3 m, walmart, johnson and johnson, United Health, home depot, six dow stocks, please look at microsoft, a new high, 49. 33. 50 is retirement country for me. Avalanche new high earlier reaching 113 a share. Stocks up pretty much. Look at oil, goes down, 75 a barrel. Gas is down again too. National average coming in at 2. 91. Look at the 2 club. These are the states where the average price of regular is under 3 a gallon, 29 states are in that list. That is not the list of the 2 club. Now for the big story this hour. Dan henninger with us from the wall street journal editorial board, one of president obamas sharpest critics. Your column today basically says the democrat model, the democrat plan is finished. I think so. It goes as far back as the 1930s when fdr at a confidante who said we will tax and tax, spend and spend and elect and elect and it has worked for them for a very long time. What they forgot about was cost of government every year kept going up and up and up so the taxes had to keep going up and up and up. All of a sudden we wake up you have four. States, with republican governors. How did it come to pass the all the states with union workers, blue collar workers, elect republican governors . The problem is to pay for the cost of government, public union costs, transfer payments, first they raised taxes on the wealthy, then they raise taxes on big business, started to impose fees on Small Business and everyone would go so what . Lately in the last ten years they have been imposing fee after fee after feet, birth certificates, license plates, hunting certificates, home transfers and the like and those have been coming straight out of the middle class. In maryland, the republican governor candidate counted up 40 taxes or fees that Martin Omalley raised throughout two terms and the middle class finally said uncle, we cannot pay this cost the way they have been extracting it from us. Stuart you think it really is over . The left is going to try to make a come back, borrow the money so we could pay it out. They cant get away with that. They have to balance their budget and they reached the breaking point. This data that can carry in the mine shaft for the federal government and notice what they did with obamacare . To finance obamacare that wall was filled with an endless number of fees and taxes, the device tax, a cadillac tax on highcost insurance, theres a reinsurance feet with employer transfers their Insurance Company to another company. There is an endless number of fees and taxes in obamacare. The Enrollment Period is starting again this weekend and if the Software Program works, people see the premiums are very high for obamacare. These are not taxes on wealthy. These are taxes on the middle class and the lower middle class. Stuart if you are right and it is a turning point and the model, tax, spend an elected and elected and taxandspend again, if you are right, is really over, we reach that turning point you are looking at a period of real Economic Freedom and significant growth. Is that optimistic . I am optimistic because republicans like larry hogan, just elected governor of maryland, scott walker in wisconsin, rick snyder in michigan. The quality of the republican candidates has risen and they are able to articulate these things. More importantly the democrats had no plan b to what they have been doing. They could restructure the government and rationalize the costs to make it affordable. They wont do that. They are thrown back on the fact this will rollovers them. Stuart what a pleasure it is to entertain, while the positive. Wall street journal, dan henninger, good to see you. The house vote on the Keystone Pipeline has been pushed back until tomorrow. Why has it been pushed back to tomorrow . Is there any significance . Any doubt that it will pass . It is an issue of having the right debate and discussion. The American People can see the house of representatives is out of that. Stuart you are going to vote tomorrow, and go ahead and build that thing and the senate will vote and say the same thing and the two bills will be rationalized in committee and it will go to the president s desk and the president is hinting i will veto this thing. Can you override the veto . I dont know. Is beyond me to think the president at this point is still not listening to the American People. Clearly the election that took place was a referendum on the president and his failed policies. It is time for all of us to come together on this issue and move forward for the American People. Stuart earlier in the program marcia blackburn, republican from tennessee, right where you stand in an hour ago and she said look, the president will probably veto the final bill, but she thinks there are 67 votes in the senate which would override that veto. Very confident of that. I was surprised to hear that but what do you think . We know there are democrats in the senate that are in favor of this, harry reid could have brought this note and elected not to. Now he is electing to move forward again for political reasons. I think the American People are tired of this and i hope the president will come to work with us on all these issues moving forward. I hope it is a new day. Stuart do you think when he gets a new day for tax rates for corporations . I hope so. A tax reform package to move forward for the American People. As you point out it is time to look forward to a growing of positive help the economy. Stuart thanks for joining us. We appreciate it. Stuart two items of breaking news, they have reached an agreement, a new agreement with amazon. The two companies have been battling with the pricing of ebooks, terms of the deal not disclosed. Check the share price of amazon, blackberry announcing the partnership with samsung to provide mobile security for samsungs android phones. The share price of blackberry is supple little bit, 11 on blackberry. Walmart stock hit a new high after an unusual rise in u. S. Sales. Walmart also said healthcare costs are eating into profits but the stock is up 3. 5 . Cheryl casone is here with us now. What is going on with the rise in sales . Rise in sales was decent, 1 2 , neighborhood markets, smaller urban Stores Opening have been doing well. You talking with the congresswomen about the Corporate Tax reform, that was a big piece of the earnings call. I was on the phone with a company, the effective tax rate, very uncertain about what congress was going to do and how it would affect the business. The key quote is historically eric axley tends to moderate towards the end of the fiscal year but the what happens with regard to changes in tax law, administrative audits and these could affect our rate. They are waiting on congress. This is walmart. For the Third Quarter their effective tax rate, 32 to 34 was better than expected but the Fourth Quarter they cant forecast or tell wall street anything because the tax extenders a big thing. Stuart they think there is a shot at some form of Corporate Tax reform, the tax rate could be changed to. Of course they have lobbyists in washington that will be going to their congressmen and women and talk about this. For the quick, lower gas prices. I know you talked about that. That is helping them and making them positive about Holiday Shopping season and there is an issue, a lot of competition. They know they will sell a lot of tvs and also cut prices on them and that will be a problem as well. It will not be a slamdunk for anybody this year. Stuart 82 caseloads. Stuart good stuff. You have another story for us. Cheryl and amazing house to show you towards myself and im bringing you the picture exclusively. Stuart lets move on to the millennials and student debt, two numbers for you. The average amount of student debt is nearly 27,000 for graduates of the class of 2012. Average debt 27 grand a. Nearly a quarter, 24 of those millennials think their Student Loans will be forgiven. Millennials, she is of millennial putting herself through harvard law. A quarter of millennials think they have to repay their Student Loans. It is an astonishing number and you millennials voted for democrats because you think the democrats will give you a bailout. That is what happened, isnt it . Those 24 of millennials have reason to believe their Student Loans will be forgiven because there president said some much, executive action in june basically implemented Student Loan Debt forgiveness program. The encouraging part is 20 think their loans will be forgiven, but 3fourths dont think they will be forgiven. That is a high number, significant number and millennials, i have a Student Loan Debts and i will graduate with 60,000 in debt. I expect to pay that back into that on knowing you have to pay it back, i dont expect it to be forgiven. Stuart you are going to harvard law and when you walk out of harvard law unless you are down market in the tv world you will make half a Million Dollars in your first year and you dont have a problem. That is true but id made a smart calculated decision and at the end of the day, you are responsible for what you take out and i have this inherent repulsion to dependence on government and that is what this is when your loan is forgiven. Stuart i saw some numbers the other day taken from the erection. In some races in different parts of the country young people 20 somethings actually broke for republicans. It was like 6040 democrats in many races but it is the highest proportion of young peoples vote going to the right that have seen a long time. May be is that a turning point do you think gorgeous wishful ri because millennials voted for democrats to the tune of 11 , it was 13 in the midterm. The important point is in swing states, it increased for republicans. In ohio millennials voted for him by 15 . They voted for the democrats by 10 , but 25 point swing. Encouraging to cease democrats depend on breaking for the republicans. Bernard when you are in boston right now. The backdrop is downtown boston. Get back to your College Classes and make some money for us. Back to the books. Stuart after the break we have a gop rally. Not so fast says president reagans former budget director, rally in the stock market. David stockman in line for correction, he says. Stuart there is a big deal in the works. Tell us about dreamworks and the nation. I dont know if you expect the top of these companies but reports are has pronate be interested in buying dreamworks. This is my little pony and sh k shrek. We have not learned the numbers or prices. Has bro was working on a deal with the softbank which fell through. When you look at the two charts, dreamworks is storing up 16. 5 and have those pulling back 4. 7 but the acquirer and dree yesterdays close just reading that the shares of dreamworks had a market value of 1. 9 billion so this will continue to follow. It will be an interesting tied up. When i rubbed my eyes and fought earlier this morning, dreamworks together, an interesting thing. Stuart it is natural, toys and animated movies. This is an old one, working girls with melanie griffith. She made a tie up that seemed so obvious. Stuart could be. Thank you. Look at the big board. We are up 47 points awful high of the day which is above 177. I want to bring in former reagan budget director david stockman, frequent guest in this program who has predicted a great big market crash. Welcome back. Smile on his face. If i had taken your advice over the recent years when you were saying here come the crash, i would miss the great big rally. Are you still saying each and every day the Central Banks in the world get more out of control fuelling a bubble the likes of which we have never seen in modern times if ever. The question you asked me could have been posed in 2005 i would have said the Central Banks, i would control Interest Rates at 1 . The Housing Market is being fuelled by easy money, i would have missed the s p 500 going from 1200 to 1550. A few months later it was 6. 60. Markets go up slowly, 5, 6, 7 years, until the bubble reaches and unsustainable point, not the real economy of the world which is in doing that well. The bubbles finally break and then there is stuart i got you. That is the crash. I use saying the next crash is going to be so big of far bigger catastrophe. Far bigger than the last one. The Central Banks are doing it to a degree never seen before. Look at the bank of japan, printing money. The bank of japan last week indicated they will print money at what would be a 3 trillion annual rate in the u. S. Economy given our sides. Their Balance Sheet is already at 50 gdp, they are trashing the yen. Rampant inflation. It leads is going to lead to a race to the bottom. Already the yen is collapsing, it is going to fall through 120. It is teddy for 140. The economy is of east asia cannot compete at that level. There are going to have to be values come as they devalue, there will be a tidal wave of deflationary spreading around the globe, corporate profits are going to be nailed. Stuart what do i do . Get out of harms way. You sell your stocks and bonds and get into cash and put your head down and the dollar is the one thing in the world that will go up as we get into this currency war and this race to the bottom. It is going to be which shirt is the cleanest in the dirty laundry where all of the Central Banks take the currency. Stuart what do you do with someone who has a couple million bucks . You are not going to do that. They are adults, they know what they are doing, the point is we have never been here before. You have never seen a centralbank like ours, interestrate and zero to 17 months, you never see people in Central Banks like the bank of japan with 2 inflation, hell or high water, trash the currency, you by 100 of the debt being created. Bernard when you got to tell me when is it 7 . We can predict it if you had asked me in the spring of 2007 or the fall of 2007 when the market is going to happen. Suddenly where did cds squares come from, or the credit default swaps come about. Which came out of months or two earlier stuart when you cant tell me when. I think it is nearby because we had gone to step change in the desperate of Central Banks. Stuart i have a huge problem n. You can always be bearish because theres always a crash that happens. You can be bullish if you believe Central Banks which have your back, they keep the bobble going, and Central Banks are incompetent, and are run today by mad men, corona is a certifiable madman, stuart when you make the case, but i am not prepared to go to the matters with you. David stockman, appreciate you being with us. Up next your reaction to peter d du ducis interview with a man who killed usama bin laden. What you have to say about this. The reason we went on the mission knowing we are probably going to die in the compound, was for the single mom that went to work on Tuesday Morning and later that morning she made a conscious decision to jump to her death because it is better than burning alive. So ally bank really has no hidden fees on savings accounts . Thats right. Its just that im worried about you know hidden things. Ok, whys that . No hidden fees, from the bank where no branches equals great rates. Does your mouth often feel dry . Multiple medications, a dry mouth can be a side effect of many medications. But it can also lead to tooth decay and bad breath. Thats why theres biotene, available as an oral rinse, toothpaste, spray or gel. Biotene can provide soothing relief and it helps keep your mouth healthy too. Remember, while your medication is doing you good, a dry mouth isnt. Biotene, for people who suffer from a dry mouth. I have 40,ney do you have in your pocket right now . 21. Could something that small make an impact on something as big as your retirement . I dont think so. Well if you start putting that towards your retirement every week and let it grow over time, for twenty to thirty years, that retirement challenge might not seem so big after all. Stuart reuters report an unnamed top general says the u. S. Will need 80,000 competent troops recaptured territory lost to isis. President obama has pledged 1500 additional troops to train the iraqi army. The general says he need 80,000. I want to play you more sound from Robert Oneill and his interview with peter ducci on the moment he killed usama bin laden. The he staggered . He just fell. How long from the second you saw him until he was lying dead less than a second. Probably have a second. Just walked in and shot him. He had to be wearing a suicide fast as a thread. I with my rules of engagement, he is not surrendering. How much time was there between shots . I would guess again the two shots the third shot is how long it takes a person to fall on the floor. Stuart we promoted our interview with peter ducci and her face book and twitter pages. Flooded with comments on the two our special. Barbs as definitely gives you a great sense of American Pride watching this show and also in this navy seal. Big thanks to him and the team that took down the terrorists. Patricia called it truly one of the most compelling stories i have ever heard. Bruce added i support Robert Oneill 100 . Thanks to all of you for your comments. Thanks for coming. Strike iii for obamacare architect Jonathan Gruber. Another sound bite revealing what the left is all about, we are talking wealth redistribution. Sheila you see this ball control . You see this right . Its 80 confidence and 64 knee brace. Thats more. Shh. I know thats more than 100 . But thats what winners give. Now bicycle kick your old 401 k into an ira. I know, i know. Listen, just get td ameritrades rollover consultants on the horn. Theyll guide you through the whole process. Its simple. Even she could do it. Whatever, janet. For all the confidence you need. Td ameritrade. You got this. Ghave a nice flight r bag right here. Traveling can feel like one big mystery. Youre never quite sure what is coming your way. But when youve got an entire company who knows that the most ontime flights are nothing if we cant get your things there too. Its no wonder more People Choose delta than any other airline. Stuart fox news reported first last night president obamas is about to give amnesty to 4. 5 Million Immigrants using executive orders. Now the New York Times has caught up reporting the number at 5 million. Check the big board, we are above the closing high, below the intraday high. If you look at individual stoc stocks, six of the 30 dow stocks are hitting alltime highs. Microsoft is at a new high approaching 50 per share. The big story in the market really is the price of oil. 75. 19 right now. That should signal a further drop in gas prices. Last hour we told you seven democrat leaders will give Elizabeth Warren a leadership role in the new congress. She will be a liaison at the base after getting a bigger, higher profile voice. So, we ask you on facebook and twitter what title would you give her. Here are some of the more creative responses. From sam, do you think she could be elected . Chairperson of the liberal bingo association. Donald suggests chief of the you didnt build that counsel. That is my favorite. And supply of coal limited. The trains are being used to ship oil instead. Why dont we build a Keystone Pipeline . Jeff flock at a coal plant. What have you got . I hate to keep making the case for the expansion, but the case keeps getting made. As this plant outside of chicago, stockpiles are very low because as you point out, a train coming through right now, that is how they get the coal here. They cannot get enough coal to the plants in the midwest because of those shipments of oil. That would certainly be helped if you had another pipeline to shift it all. This is competing not only with oil, butcompetition from grain as well. Stuart what is the temperature . 23 if you must know. It is headed your way because i would love to have it out of here. Stuart it is coming our way, believe me. A big pile of coal, we may set it on fire while we wait. Stuart we appreciated, thank you, jeff. Jonathan gruber at it again. Another video of him insulting the americans. Clever exportation of the lack of economic understanding of the american voter. Stuart troy is president of the American Health policy institute. He joins us now and had seen all three of the tapes. The point is he told the truth. It really is an Income Redistribution scheme. You take from this group with insurance and give it to that Group Without insurance. He told the truth but he lied about it in public. He told the truth and nancy pelosi acting like she never heard of him and liberal groups say that is not what happened, but it is a little bit more complicated than that. The other component is it is complicated. They make a law in a complicated way so that people do not see the way they are taking place. Stuart who could see through 2700 pages of legislation . Take a look at what nancy pelosi did say about those gruber tapes earlier this morning. Interesting set of observations, the one you skipped this mr. Grubers comments were ayearold and he had backtracked for most of them. It is important that he is not even advocating the position for some conference. Stuart i think you heard that, the just of it was his comments were made a year ago and not relevant. You say what . She didnt say they were false or wrong or incorrect in any way. Perhaps they were made a year ago, but that does not mean there are any less to today. The catalyst tax which mr. Gruber was talking about, masking it with the american employer pass it on to their employees. We have a new study that there is this out, it is accurate. Stuart it looks to me like chaos, absolute confusing for obamacare going forward, is that an accurate statement . It is problematic. Employers say they cannot make necessary changes because there is so much confusion, uncertainty and they are sitting back waiting to see how it works itself out. Stuart thank you, we do appreciate it. I should tell you the price of oil dropped below 75 per barrel. Albeit briefly. You will see on the bottom righthand side of the screen it dropped 74. 90 and change. Bounced back rapidly 75. 20. That is a new low for the price of oil and it implies lower gas prices still to come. The health foods diet craze more popular may not be as good for you as you think. Dr. Marc siegel on that is next. T begins with the cloud. This is titanfall, the first multiplayer game built and run on microsoft azure. Empowering gamers around the world to interact in ways they never thought possible. This cloud turns data into excitement. This is the microsoft cloud. Nicole the Dow Jones Industrial average jumped 50 points on a recordsetting day on wall street for the dow and s s p 500 hitting lifetime highs. Take a look at the dow components that hit record highs which include nike, 3m, walmart, johnson johnson, United Health care and home depot. Also worth noting apple also hitting a lifetime high today. 113. 35. Aand outperform rating. Looking at some of the retailers looking closely at jcpenney, calls and walmart. All three came out with their numbers. Jcpenney had to cut therefore your numbers and we did see kohls drops in quarterly profit. Nordstrom reporting after the bell, so stay tuned on fox business for that one. We will bring it to you. 80 Million Dollars, and creating 1750 jobs. From long island to all across upstate new york, more businesses are coming to new york. They are paying no property taxes, no Corporate Taxes, and no sales taxes. And with over 300 locations, and 3. 7 million square feet available, theres a place that is is right for your business. See if startupny can work for you. Go to startup. Ny. Gov. We were created as human beings to flourish at every single level both on level of sins but also personal fulfillment. Stuart that was father Jonathan Morris answer the question does money buy happiness. A big theme on the Fox Business Network all the way through today. Next hour Deirdre Bolton has the founder of the company that is trying to use crowd funding to provide health care to every person on the planet. Coming up. I hate to say it but we had to put jcpenney back on deathwatch after disappointing numbers, we cant help ourselves, it is down 8 . David nelson is here. Are we crazy to put jcpenney on deathwatch westmark maybe not crazy, it is pretty tough. Retailers may be the most Competitive Industry on the planet, tough even for the greatest Companies Like macys or target to compete for consumer dollars. The revenue has steadily declining and they are way behind on their own plan. I dont see anything i like, they will not make any money for at least two or three more years. Hard for me as an investor to get excited about that. Stuart the reason we put them on deathwatch was that report is pretty bad. The idea sooner or later somebody is going to be squeezed out of retailing. If they can take it, have not looked at the debt structure. If it is going to be under, it will be the debtholders that determine that. Stuart i want you to listen to this soundbite from internal market bear who was on earlier on the show. Rollback tape. The Central Banks numeral get more out of control, fueling a bubble to the likes of which we have never seen in modern times. It could have been posed 2 05, the Central Banks are out of control, Interest Rates are 1 . Stuart he says it will be soon, you say what. I have interviewed david, it has not changed over the last five years. Some of that is correct. It is determining if qe was a success. Companies are making tons of money not because of federal reserve, theyre making it because they create great products people want. To say the market will crash, that kind of rhetoric has kept people out of the market for the last five years, 20 years, 50 years. Stuart you missed one, you missed a great run. Eating healthy is good for you until it becomes an obsession and then you might develop a condition that some experts have referred to as leading to malnutrition. Dr. Marc siegel is with us now. If you eat all healthy all the time to excessive obsessive degree, you will end up malnourished . The goal is not to lose weight, but because you think you have to have the perfect diet. An obsession like you dont believe in gluten. Without even knowing if you have a gluten sensitivity. You think gluten is bad, wheat is bad, sugar is bad, organic is all you can eat, some sort of restriction leading you to eat less than you should. Stuart is this condition common . I brought up gluten, only 15 have a gluten sensitivity. But those who dont want to eat gluten is more like 50 . I think it is becoming an increasing problem. People obsessed with certain type of eating spending hours per day procuring the right kind of a diet. Stuart why . Why are people going nuts about food and assessing . First have a form of obsessive compulsive problem to with. Second, the media is fueling this. Health food eating, certain kinds of eating, organic. We have talked about this before. Stuart this generation has produced this enormous number of people who are obsessing over the food they eat. It is not the media. The next thing we know, your diet a little bit of salmon on toast is beautiful. Nobody knows that unless we tell them. Nonfat yogurt, unflavored. Here is a big tradeoff problem. You get rid of the fat, you get sugar. Decrease your sugar content. Stuart i eat that everyday, that is what i have eaten every day for at least a quarter century. Am i obsessing . No, youre just crating regular it in your life. If you spend two to three hours preparing it or growing it in your backyard, looking up grapefruit recipes online, that would be obsessing. Stuart grapefruit just does not grow very well in new jersey. In this day and age you can get fresh grapefruit almost year round. It used to be a season november through march or april. Now it is year round. Want some . The key to the problem here is not obsessing. You have your regular diet, you are fit as a fiddle. Stuart thank you. I will not give you much business as a doctor. Exercise regularly. Do you do that . Stuart i do. I walk a lot. Great pleasure to have you with us on the show today. Coaster rico, tropical paradise but not just for vacation, but putting money into real estate. A full report on that coming up. How can power consumption in china, impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u. S. . At t. Rowe price, we understand the connections of a complex, global economy. Its just one reason over 70 of r mutual funds beat their 10year lipper average. T. Rowe price. Invest with confidence. Request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. Stuart make them an offer they cant refuse on this house. On new yorks staten island. Technically only the homes exterior is shown in the film of the current owner bought it for 1. 7 million has remodeled the inside to look like more of the movie scenes. Not a bad idea. Beach loving americans are buying up real estate in costa rica and reselling it to other americans. Cheryl casone, well that works for a couple of hours, taxdeductible entire vacation and have a house. Thank you for giving me a tax tip. Lot of american investors not just in the new york area but oregon, florida, many of them going down and buying property and reselling it to other americans. Stuart you go through the hassle of buying a property in a foreign country, and then you get paid for all of that hassle by selling it at a nice profit to americans. This is about 6000 square feet of living space, it is a stunning home. Four bedrooms, four bathrooms. It has a pool, satellite dish, all the amenities and when i was standing there i thought i was in malibu, california. Guess how much this house is . When i walked in, 670,000 being sold by century 21. Stuart title, free and clear, no messing around h. You can remodel, without a lot of the hassle you had, that is why it is becoming so attractive for american investors to go down and start to build, remodel homes. I met a couple of new yorkers. I need another vacation without new yorkers, actually. Stuart thank you very much. More varney coming up for you next. Whats wrong with trying new things . Feel that in your muscles . Yeah. I do. Try a new way to bank, where no branches equals great rates. My motheits delicious. Toffee in the world. So now weve turned her toffee into a business. My goal was to take an idea and make it happen. Im janet long and i formed my Toffee Company through legalzoom. I never really thought i would make money doing what i love. We created legalzoom to help people start their business and launch their dreams. Go to legalzoom. Com today and make your business dream a reality. At legalzoom. Com we put the law on your side. Stuart my time is up. Here is Deirdre Bolton. The era of free digital use it is weaning. What it means for you as a fan and business. Former apple ceo says urgency comes in innovation. He shares what he learned with working with the latest steve jobs. My little pony, hasbro may buy dreamworks animation. He cowrote todays story. Is this about taking on disney . Disney has had a lot of success