Transcripts For FBC Varney Company 20170512

The way we stop and the way we live as bricks and Mortar Stores retreat. Jn Online Shopping is taking over. Amazon, that one Company Accounts for the retail sales and its interesting, that news that makes headlines in the establishment media is about hatred and contempt for President Trump. The news that affects your everyday life is running all the way to the back burner. Stay right there. Were background to tell you about a surge in college grad salaries, a threedecade low for Unemployment Benefits, a surge in home buying over renting and, yes, those ghost malls. Varney company, the friday edition, about to begin. Hes a showboat, a grandstander. The fbi has been in turmoil. You know that, i know that, Everybody Knows that. You take a look at the fbi a year ago, it was in virtual turmoil. Less than a year ago. It hasnt recovered from that. All right, you heard it, that was President Trump speaking with nbc about the comey firing, directly contradicting what the white house had said a day earlier. The media, well, they have been relentless about the president s actions on comey. A couple of headlines for you today. Washington post, its an opinion piece called a Survival Guide to president ial abuse of power. From the New York Times, the opinion piece, american fascism in 1944 and today. Byron york is with us. I find this media response to the comey story and all other stories, frankly, hysterical. What about you . Well, i think people are hyperventilating a little bit. By the way, that american fascism story in the New York Times written by Henry Wallaces grandson, wallace was the next to the last vicepresident of Franklin Roosevelt and ran for president as a progressive in 1948. And says you know the term fascist cannot be fairly applied to donald trump and american fascism is different from european fascism and they put it in the headline. There are other parts to the story than what you are hearing. Certainly, President Trump was angry about the Russian Investigation, theres no doubt about it, but its also true that the trump team and trump himself were thinking about firing comey from the very beginning, meaning right after the election, during the transition. They were tking about it and some people wanted too it right away on january 21st, so this is a more complicated story than you would understand if you just watched a few Media Outlets. Stuart it goes over everybodys head and i feel like the media is trying to force us into an intellectual straight jacket which denies the legitimacy of President Trump. Its more than that, its personal. I get the impression, there are many people in the media, establishment media who hate them. They are contemptuous of him and they loathe the man, thats what im feeling. One thing that you see a lot in times like this is kind of excessive group think in the media and the similarity in the reporting that youve seen in some of the major Media Outlets has been really, really striking and the ignoring of other things has been striking. For example, yesterday in a meeting of the Senate Judiciary committee, the chairman, charles grassley, the republican, Ranking Member dianne feinstein, the democrat, talked about a time at the earlier hearing when james comey appeared and one democratic senator tried to get comey to acknowledge that President Trump is a quote, target of the Russian Investigation and comey wouldnt say. And grassley came out and said, listen, we were briefed by comey and basically he said trump was not the target of the administration of the investigation. And feinstein agreed with that statement and theres not been a whole lot of coverage of that and im just saying that thats part of the story in addition to Everything Else that youre hearing. Id like to hear the full story, frankly, id like to hear more about the good news about the economy. Byron york, everyone, thank you, sir. Early on a friday morning. Despite the turmoil and venom m the media, stocks havent taken much of a hit or the positive economic signs that were seeing in the economy. Well, they seem to be supporting the overall market. Well be down ever so slightly, the opening bell this morning, we were going to be down about 50 and now we may be down single digits, maybe nine points, but take a look at snap. It dropped what, more than 20 yesterday, weak numbers, stiff competition from facebook and not recovering that morning and snap is at 18 and it went public at 17. The latest retailers to report weak sales, oh, dear, this is retail fancy graphics, i like that. J. C. Penney stock down nearly 7 , nordstrom down nearly, what, 5 1 2 and it was down big time yesterday. Joining us now with the resource group, this is the man on the screen now, coined the expression retail ice age. And these Sales Numbers from the Department Stores, the bricks and mortar people are bad and i think getting worse. I think this is a retail ice age in deep freeze, what do you say . Retail ice age, deep freeze and many more casualties filing for bankruptcy, rick reta retail. Stuart give us names you think are going out, bankruptcy or liquidation. We associate the names in trouble with stock prices trading below 2 a share, that would include bonton group, sears holdings, bonds of Neiman Marcus and and j. Crew and rue 21 is gone and bebe stores are going. Bond prices below 65, and stocks below 2 a share, look out below, theres still power to prosper and areas to make some money. Stuart do you like j. C. Penney, dont you . I like the preferreds, youre right and the ktp dividend of 10. 4 trading below par and and how do i know im going to get it. Its lunch money for you, its 18 a share. [laughter] you say 10. 4 yield trading below par, and im not saying bet the fortune, but 2 to 5 of your portfolio in risk and dillards a preferred stock, ddt, not related to the pesticide. They dont go up and down much, but a great yield, total by total return. Ashley look at nonstore retail, amazon. Com and Home Improvements stores doing well and reflects the Housing Market which is picking up. Stuart you coined the expression retail ice age and we stole it and enhanced it and made it the deep freeze. As they would say, simon bar sinister says freeze. [laughter] now to a different story, some fbi agents not happy with the way the Hillary Clinton email case actually turned out. Here is fbi director, acting director, Andrew Mccabe during Senate Testimony yesterday. Roll tape. Im just saying basically before july 5th, before the first testimony that basically director comey got involved in, prior to that, did you see a change in the morale, yes or no, yes a change or more anxious, more concern . I think morale has always been good, however, we had there were folks within our agency who were frustrated with the outcome of the Hillary Clinton case and some of those folks were very vocal about that, those concerns. Stuart very interesting. Fox news contributor, rachel duffy. It sounds like theyre looking at an opening of the Hillary Clinton. And if donald trump gets somebody to replace comey who is aggressive may open that case. The American People said, fine, youre not going to do anything about it, well take care of it at the ballot box, thats what they did, a reaction to Hillary Clinton and those emails. Stuart that was barely reported. The first time i saw that was early this morning when i walked in, establishing whats going in the show today and whats they i saw it for the first time and that sound bite is from mid day yesterday, i think. Its what you said before, theyre trying to set a narrative and have a deep hatred and shows me theyve learned nothing from the election. They said theyre going to reevaluate and get back in touch with the American People. All the economic stories at the head of the show, i live in Middle America, theyre not talking about comey, there are people in construction, and manufacturing, and Steel Workers and theyre going, hey, this looks pretty good. Stuart youre from wisconsin. I am. Stuart your home base. Yes. Stuart and people there its going over their heads whether its comey or watergate or thats not a factor. No, theyre talking about health care, because that affects their lives, but not talking about comey. Theres no deep love in Middle America for comey. A lot of people dont know who the heck he is. Maybe now they do because of the media, but, yeah, i think it shows theyre still out of touch and theyll pay a price for that. The media and the left. Stuart all right, thank you very much Rachel Campos duffy. Thanks for joining us. Stuart im going to call it a bombshell in the Hillary Clinton scandal. A woman in bangladesh said she was approached for donations while she was serving. And microsoft designed a special watch that could help control the uncontrollable tremors associated with the disease. Well tell you how it works. And the best way to win a cyber war against north korea is to think like winston churchill. Theres a story for you. State right there. Hell make his case right after this. [vo] when it comes to investing, looking from a fresh perspective can make all the difference. It can provide what we call an unlock a realization that often reveals a better path forward. At wells fargo, its our expertise in finding this kind of insight that has lead us to become one of the largest investment and Wealth Management firms in the country. Discover how we can help find your unlock. Now, youre looking at Cyber Security stocks, they went down yesterday. Not much recovery for any of them today. And then remind you that yesterday, President Trump designed an executive order to bolster Cyber Security to protect the nations infrastructure from cyber attacks. And im staying on that subject. Our next guest says President Trump can win a cyber war by following Winston Churchills footsteps. Come in, please. The chair of American Defense international. All right, van. I know what youre going to say, youre going to say that we in america should establish like a benchly park, an organization that alan got through in the world war. I want to solve the Cyber Security problems that we have and to win the cyber war. The fact right now that open Source Intelligence tells us that north korea has a quantum encryption device should be a wakeup call to america. Were talking speed of computer. A computer capability billions of times faster than our current computing capabilities. America needs that technology. Stuart absolutely, youre telling me that the north koreans, whose people are starving, eating grass, they are ahead of us in quantum computing . They have a quantum encryption device, we know that. They recently sent out random number codes. Remember how the nazis would change the code every day, what if you could change the code every couple of seconds, thats what were talking about and today, losing the cyber war is not a optin option just as losi the cyber code, and the enigma code in world war ii. Dont we have the microsoft of the world and apples, symantec and everything, already in place . Unfortunately, quantum computing has not been a priority for our National Institute of technology. Theyre not on top of this, the air force is. Lets bring in the best mathematicians and physicists that we have, these have been the visionaries, the alan tourings of america of this generation and lets do what churchill did. And before he became Prime Minister he got personally engaged and that fits with President Trumps style. He gave them the resources they needed. Losing was not an option and he visited with them to boost morale. And thats what we need. The british bull dog gave us this to achieve victory. Whoever wins the cyber war with dominate in present and future conflicts. Losing the cyber war is not an option. Stuart thats fascinating. Didnt know anything about this until you came along. Good man, thank you. Total change of subject, to southeast asia. The bangladeshy Prime Minister says Hillary Clinton personally pressured her to help a foundation donor. Details. Ashley yeah, apparently she made a call in 2011 to the bangladesh Prime Minister. And for making the call to insist that a dr. Mohammad eunice not be removed as the head of a bank because that bank under dr. Eunice had given between 200,000 to 250,000 to the clinton global initiative. And you take him out of the bank, the donations, you lose the money train. She was told you cant do that you have to be 60 years old and younger and the doctor is now 70 and shouldnt have been there in the first place and she continued to push it have the individual as the head of the bank, which was a Microcredit Bank in bangladesh, but she was rebuffed. Stuart so did either the bank or the bangladeshi Prime Minister contribute money to the Clinton Foundation . They did, during, up to that point. They had and they wanted to main train to continue. Liz the corruption scandal. Stuart yes, it was. All right. We cover it all on this program. A sign of economic populism in the Housing Market. Millennials buying homes rather than renting. Now, there is a switch. Weert talking about a whole new generation of home owners. Very good news in my opinion, more varney after this. My business was built with passion. But i keep it growing by making every dollar count. Thats why i have the spark cash card from capital one. With it, i earn unlimited 2 cash back on all of my purchasing. And that unlimited 2 cash back from spark means thousands of dollars each year going back into my business. Which adds fuel to my bottom line. Whats in your wallet . Not much going on with the price of oil this morning, its up to 47 a barrel. Not much going on with the price of gold this morning, it is survey says. Stuart survey says 1230. A generation of renters are starting to buy homes and theres a switch. Tracy is here with the story. Tell us, please. Well, now, the number of new firsttime home owners thats doubled the first three months of the year. Some 854,000 new home owners. Thats double the 365,000 people that are firsttime renters. So there are more options now than ever for these first time home owners. Stuart thats extraordinary, first time home owners 854,000. First time renters, 365,000. Thats a total switch. People dont want to rent. Theyre moving out of their parents homes, these millennials, there are more starter home range prices of homes available for them, you know, builders are i wonder if its something to do with this statistic from korn ferry. The average starting salary for college graduates, 49,785, for the salary and maybe thats why theyve got the money. Absolutely. Stuart theres more homes on the market . The builders have been focusing on the luxury market and realizing that millennials are buying, so theyre building homes in that starter home range so theyre more affordable. Stuart and thats why home depot and lowes and their stock has been doing nicely. Tracy is, your second performance on Varney Company, that was pretty good. Better than the first. Thank you, thank you. Stuart and sounds good. Appreciate it. Stuart where are we going here on the market when it opens in four minutes time . We are going to go down ever so slightly and look at that nasdaq, home and Technology Stocks going to go up again. We will be back. My friends think doing this at my age is scary. I say not if you protect yourself. What is scary . Pneumococcal pneumonia. Its a serious disease. My doctor said the risk is greater now that im over 50 yeah. Yaha. Just one dose of the prevnar 13® vaccine can help protect you from Pneumococcal Pneumonia an illness that can cause coughing, chest pain, difficulty breathing, and may even put you in the hospital. Prevnar 13® is approved for adults 18 and older to help prevent infections from 13 strains of the bacteria that cause Pneumococcal Pneumonia. You should not receive prevnar 13® if you have had a severe allergic reaction to the vaccine or its ingredients. If you have a weakened immune system, you may have a lower response to the vaccine. The most common side effects were pain, redness, and swelling at the injection site, limited arm movement, fatigue, headache, muscle pain, joint pain, less appetite, vomiting, fever, chills, and rash. Get this one done ask about prevnar 13® at your next visit to your Doctors Office or pharmacy. Listen up, heart disease. you too, unnecessary er visits. And hey, unmanaged depression, dont get too comfortable. Were talking to you, cost inefficiencies and data without insights. And fragmented care stop getting in the way of patient recovery and pay attention. Every single one of you is on our list. For those who wont rest until the world is healthier, neither will we. Optum. How well gets done. All right, we will open this market on a friday morning in about 32 seconds time. In the backdrop before we open, ive got positive signs on the number one, its easier to get fulltime jobs, so we are told. Unemployment claims, the lowest level since 1988. Very strong corporate profits up 13 , the best performance in six years and get this, salaries for this Years College grads are at the best level in decades over 49,000 a year and millennials are buying rather than renting homes. Its the last day of the week, were running and down, 21 points. Okay. 21 down at 20,896, but its a very modest loss and i see green opening up on the left side of the screen. Down 25 as we speak. The retailers, we made a big deal on the program about the retail ice age. Its really going into deep freeze. J. C. Penney just opened there, down 6 , its under 5 a share. Nordstrom down late yesterday, down again this morning. And look at snap. This is obviously another retail stocks, but snap down 20 yesterday, thats hardly a recovery. Its still at 18 a share as of this morning. Its always worth checking the fabulous five as we call them. The very, very big Name Technology companies. Ive got facebook at 150. Amazon at 953. Microsoft going up im sorry, down a little bit. Alltime high for apple at 155. 19. This is where the money is still going. Except microsoft which is down 14 cents. Fix that. [laughter] joining us now ashley webster, liz macdonald, Scott Shellady and jeff sica. Im seeing these positive signs. Scott shellady, are you with me, the good things going on beneath the political headlines . I agree with you 100 and were seeing a little bit of inflation in there. Cpi wasnt as good as id like it to have been, but overall, green shoots of activity. The only thing that concerns me still is that bond market telling me we still have enough to worry about, 10year 2. 34. Maybe we need to see more and then the bond market will catch up. Right now, yeah, im glad to see the green shoots. Ashley its holding the pieces in place, what the Economic Data is tell us, what we need to happen is washington d. C. Get on with the business of getting that economic agenda in place, tax cuts, Health Reform and so on. Then were off to the races. Stuart not doing too badly. Liz and the level of job se seekers, the fulltime job is coming up and the spending coming up. Stuart is that a positive. Liz a positive. Stuart plus the percentage of people collecting unemployment is the lowest since 1969. Ashley got to be do you agree with that, jeff sica. I agree, but i have to agree with ashley. A lot of the market is priced that the tax cuts are going to happen, the Infrastructure Spending is going to happen and obamacare reform is going to happen. So if theres a disagreement, position, with tax cuts, we have something to be concerned about. Stuart yes, but, but the underlying economic picture looks pretty good this friday morning. Definitely. Stuart youve got to ignore the stuff about russia and trump and the emails, this, that and the other. That has no relevance to both peoples lives. Wages, jobs, housing, thats whats relevant. Liz and corporate profits. Stuart a huge gain. Moving on. Lets get to the retail ice age. Look at this, sales down at j. C. Penney and the stock is now off 7 , its under 5. Sales down nordstrom. Samestore sales, and that stock is down 7 at 42. Scott, some market watchers tell us that retail will hit bottom soon. Do you think thats going to happen soon . No, i dont. I think weve got a long way to go still. I mean, stuart, lets think about retail sales in aggregate. Only 10 are done online and 90 are bricks and mortar. What does that sector look like when its 5050. If were only just beginning this move, i think weve got a long way to go and i think its going to get uglier, unfortunately. Internet retail sales are up 12 year over year and Department Sales down nearly 4 . This field of dreams, build it they will come attitude with the ghost malls on the rise, theyre stopping with the mall stores, macys cutting back stores and Sales Numbers look good in the future. And that is potentially webben had based sales and Department Stores down. Now, jeff, ive heard many people say that amazon, this is all about amazon. And the stocks about 950 a share, too much for you . No, this is all about amazon and amazon, one of the recent initiatives, amazon getting into the furniture business where theyre offering free furniture delivery in two days . You know, people overlook that. Stuart really . People overlook that, very low under 25. Amazon is doing something now, delivering bulk almost free and that changes a lot of things and people have to understand that, changes the whole landscape now. Stuart you can get a couch, a huge couch delivered in two days for no shipping fees. Liz or a mattress. Stuart no wonder the stock is at 955. Its extraordinary stuff. Sears, the chairman lambert, he says the media has unfairly singled out sears because its struggling and its down another 3 1 2 . Its ridiculous, the fact he would say that, he took it right out of the play book, blame somebody else. Starbucks actually said the same thing, we have too many customers. The fact is the strategy of putting the focus on the media and not looking at the astronomical problems they have is reprehensible. Stuart Scott Shellady, i can hear you breathing heavily in chicago. Get into this, come on, come on, im apoplectic, i agree 100 . Why thats like a coach blaming sports writers. Its ridiculous. Ive got a shockingly great idea for them. Make some money, thats going to make it go away. Make some money. Stuart you were in london far too long. Liz Eddie Lambert bought in 2004 and sliding in 2006 sliding ever since. The stock has been cut in half. Now the debt of series is bigger than the market cap and thats eddie lampert. Theres not one solution offered for sears issues. If i was a sears investor i would be very, very upset right now, not one issue. Blame the media and have you heard the headline on the rampage. We dont need any more customers. Weve got all we need. A better job of keeping them. Yeah, the stock is down. Thats it this morning. Lets get back please to the fabulous 5 as i like to call them. The compete offer of what he is going on in the retail sector. All right, scott, back to you for a second. Do you think these are getting too expensive . Weve got them on the screen. Facebook, microsoft, alphabet, apple, too expensive for you . No, theyre expensive, but for a reason because thats where the action is going to be, theyre going to innovate and create the wealth and thats where we need to be going forward. Theyre expensive and put it this way. Those five stocks, i have a market cap of roughly 3 trillion. About 17 of the total u. S. Gdp. That will give you an idea where the market thinks the important things, and important ways are. Stuart thats incredible. The value of those five is 17 of americas multitrillion dollar theres one company that doesnt deserve to be in that, it should be fabulous four, apple has not innovated. Google, facebook and its a 800 billion stock. Stuart blasphemy. They have not they keep rolling out new versions of old products. They have not innovated. Theyve become ultimately a Cell Phone Company and if they dont innovate, theyre not going to keep up with the other four, in my opinion. Stuart are you still pushing j. C. Penney there . [laughter] got to be honest. Got to be honest. Check that big board. 40 points for the Dow Jones Industrial average, 20,876. Nasdaq still close to an alltime high. Okay, its down 1. 8 points today. Thats. 03 . The s p 500, i think its down just a tiny fraction, where is it . 2,390 on the s p 500. Here is a group of stocks which are never truly understood, but were talking news, now called the Cyber Security stocks. Yesterday, President Trump signed an executive order to protect america from cyber attacks. Okay. Would you would you buy look at them on the board now, theyre all down yesterday and down again today. I say they are down because they dont work. Were being everybody is being hacked all the time and these are socalled Cyber Security stocks and i dont think theyre protected. Look at the average corporate budget for Cyber Security, that keeps rising exponentially, i think the stocks have a lot of potential, Cyber Security is a main issue, yes, they have a lot of innovation they need to do to keep ahead of the hackers, and the hackers are still a little bit ahead, but i think some of these companies, like fire eye, which i dont own, but like fire eye, i think theyre going to eventually found ways to innovate and solve a lot of these problems as long as they step up. You know, sica, youre running out of goodwill. [laughter] youre not what i love about the president s executive order, he is he saying all of you agencies get on the same page with information technology, and get on the same page for enterprise computing. And what has obama been doing the last eight years, using ancient systems. And he says get in the clouds. Stuart did i hear an exasperated Scott Shellady trying to get in . Now what . Here is what i think, you know, this industry is heavily technologically oriented and theyre telling us about our audits going forward, were going to have to perform penetration tests to see if we can hack our own company. When this starts to trickle out and were going to have to buy those services to help hack our own software, enthis it could be something to go on board. Stuart a good point. Another positive, the u. S. And chinese reached a deal on access for beef and financial services,both sides of the pacific here. I see that as a positive move as in no trade war. What say you, scott . Im 100 agree. It started off bad when he was tweeting in china and when they got together in florida and finally had the meeting and did what they did with the tomahawk missiles, a lot of good out of that and this is the beginning. Stuart we covered a lot of turf in 11 minutes. Thats pretty good. Thanks to jeff and scott. Good stuff indeed. Next case, the left, apoplectic over President Trumps firing of james comey on the verge of hysteria. Youll get my take on that at 10 00, top of the hour coming up. And also top of the hour, ohios Governor John Kasich. Well get his take on james comey and the collapse of obamacare. Varney Company Continues after this. I use whats already inside me to reach my goals. So i liked when my doctor told me i may reach my blood sugar and a1c goals by activating whats within me with onceweekly trulicity. Trulicity is not insulin. 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Taking trulicity with a sulfonylurea or insulin increases your risk for low blood sugar. Common side effects include nausea, diarrhea, vomiting, decreased appetite and indigestion. Some side effects can lead to dehydration, which may make existing kidney problems worse. With trulicity, i click to activate whats within me. If you want help improving your a1c and blood sugar numbers with a noninsulin option, click to activate your within. Ask your doctor about onceweekly trulicity. With a noninsulin option, click to activate your within. So i thought it might be time to talk about a financial strategy. You mean pay him back . So lets Start Talking about your longterm goals. Knowing your future is about more than just you. Its how edward jones makes sense of investing. Its friday morning and 20,877 is where we are. Now this, sprint has reportedly begun preliminary merger talks with tmobile. Nicole, come in with details. Nicole sprint is relatively flat. Its been an unbelievable performer, up over 125 . Theres been speculation about mergers in the Wireless Industry and were watching sprint and watching tmobile. The backers behind them would be softbank and deutsche telekom. And they and the deutsche chief executive said they would be hope to discussions about consolidation. There was a sec talks, everything on hold and now the deals can happen. And stuart, this is happening as tmobile and sprint have had their wireless subscribers on the rise while at t and verizon have been losing those subscribers. All right, we shall see how this thing turns out. Thank you very much indeed on the floor of the exchange there. Technology, our next guest says the economy is poised for an innovation boom of historic proportions. Were talking big stuff here. John michaelson is with us, hes with michaelson Capital Partners, the ceo thereof. Good mornings, stuart. Stuart its john, im sorry, good morning, john. There you go. Were suggesting that were on the verge of a huge leapfrog of technology on our lives, what he is leading this . Weve had innovation the last decade, with amazon and uber, but every prior crash has been followed, like 2008, the 70, the 20s, going back to the 19th century and followed by massive restructuring in the economy and innovation and massive transfers of wealth from the rich to the middle class and the new innovators. It didnt happen after 2008 and thats really the story, why it will happen now. Why will it happen now . The pain levels reached it happened before because you had massive pain following the crash. What we had here was ultra low Interest Rates and preserving the dinosaurs, regulation, putting moats around them and concentration. Massive concentration, the highest profit levels and concentrations in our history. Stuart okay, wait a second. Fast forward. No pain. Stuart no pain. Whats happening in industry after industry is pain levels are becoming unacceptable a. Lets take enterprise software, there you have oracle and sap and others built on 1970s and 1980s platforms and theyre rickety and theyve been adding and patching and dont work anymore. The New York Stock Exchange goes down, United Airlines reservations goes down and date a breaches, cant make them secure, yahoo . Stuart what technologies are going to lead this boom in Innovation Forward . Since the las innovation boom 20 years ago, weve had each decade the thousand times increase in world processing capacity, storage, and bandwidth. So, for two decades a thousand times a thousand or one billion times increase in each of those, and we now have applications coming that will take advantage of that millions times increase. The applications that were using in most places are built on platforms that were very slow, limited storage and limited bandwidth. What happened was there was no pain. Change only compain. Stuart tell me how my life is about to change because of the innovation boom youre talking about . I think youre seeing it as consumers, certainly, and affects you more personally, but in enterprise youll see that companies are spending billions of dollars on systems that dont work as an example and they will have to throw those systems out as they threw them out before and put in oracle and others. And they will allow data mining, which the old systems do know the. Stuart is it just beginning . Its just starting now. It couldnt happen until now. It got postponed because nobody was feeling pain and you dont get change in enterprise without pain. Stuart here is comes. And here is comes. Stuart john michaelson, its a fascinating idea and appreciate you coming on board with us. Stay there, youre not allowed to leave the set while im still talking. [laughter] check our big board, down 24 points, just shy of 20,900. Almost there again. Check this out. A watch from microsoft that helps control parkinsons tremors, well tell you how it works, how about that . In honor of mothers day, we thought wed show you some pictures of our Production Teams moms. Oh. Stuart see weve got a heart here on Varney Company. Back with more in a moment. Three times a lady and i love you yes, youre once, twice, three times a lady and i love you i mean wish i had time to take care of my portfolio, but. Well, what are you doing tomorrow 10am . Staff meeting. Noon . Eating. 3 45 . Uh, compliance training. 6 30 . Sams baseball practice. 8 30 . Tai chi. Yeah, so sounds relaxing. Alright, 9 53 . I usually make their lunches then, and i have a little vegan so wow, you are busy. Wouldnt it be great if you had investments that worked as hard as you do . Yeah. Introducing essential portfolios. The automated investing solution that lets you focus on your life. Well, how about this . Microsoft has debuted a prototype watch which, im not sure whether it eliminates the arm shaking caused by parkinsons, but attempts to control it. Liz what happens in parkinsons, the brain fires off extra signals to the muscles and creates a chaotic feedback loop that causes the arm or muscles to trembler trum e tremors. It focuses on the wrist and a signalling device to interrupt from the brain to the muscle and gets the brain it focus on the action of the wrist. Stuart and dr. Marc siegel is with us now and who knows more about this than i do. That wasnt bad, liz the innovation is fabulous. Parkinsons, a loss of dopamine in the lower part of the brain. One of the first things you have is the tremors and you get rigid, i can diagnose it in the office, but its subtle. It may be a way to look at somebody with parkinsons before we would know it, thats huge. The way we use medication work at suppressing the tremors, but theyve got a lot of side effects and people are dizzy and cant tolerate them. The second thing that liz is talking about here, maybe you could use the brain, with this device, to shot some signals to suppress the tremor, theres history of that in other devices and i remain wary of this. I want to see it work and tested and work in thousands of people before im sure of it, but the idea of it and the Technology Behind it makes a lot of sense. You can use signals from the brain to press tremor absolutely. Stuart the video that we saw was heart warming from microsoft, obviously, but it looks like theres a degree of control when you wear this watch for minor tremors in the arm. And what i like about this is microsoft and the other Technology Companies have a mountain of money. Literally half a trillion dollars the top three of them. If they start putting money into medical devices and medical usage, thats a very welcomed development. You know, you made a point here, when you said minor tremor and most start with a tremor and you can look at that without the medication and with the signaling, this is innovation and where were headed, huge money involved in this much better than a side effectridden medication. Stuart fine piece of news this morning. Dr. Segal. Thank you very much. Thanks, liz, too. Stuart here is what im saying, the left spewing its hatred for President Trump through the Mainstream Media. I think its borderline hysteria and getting worse. My take on that top of the hour. Here we go. [vo] when it comes to investing, looking from a fresh perspective can make all the difference. It can provide what we call an unlock a realization that often reveals a better path forward. At wells fargo, its our expertise in finding this kind of insight that has lead us to become one of the largest investment and Wealth Management firms in the country. Discover how we can help find your unlock. Stuart surely the most Hateful Campaign in recent political history. The left is spewing contempt through it is media allies and President Trump is the target. The attacks verge on hysteria. Frankly the left appears deranged. It is getting worse. Look at opinion pages just today. The washington post, a Survival Guide to the abuse of power. Of course that is President Trump theyre talking about. The New York Times, paul krugman writes in biblical terms. Judas, tax cuts and the great betrayal. Another times headline, who will save the republic . Talk about hysteria. Then there is the grandson of fdrs Vice President who flatout calls our president , a fascist. Abc, nbc, cbs, cnn, msnbc, alphabet soup, they have long since abandoned any attempt at on tivity. Their contempt for president is on display on daily, no, hourly basis. Were in a political straitjacket. Dont try to get out, you must join the hate fest or youre a it haar yourself. You remember a couple days ago a high school used a trump make America Great speech to pump up the Lacrosse Team . The authorities found it necessary to apologize to anyone who might have been offended . Offended . Make America Great again, offensive . What is going on here . First the Mainstream Media is a disgrace, unbalanced and unfair. They are not are informing the public. Second, america has developed an outrageous double standard. What was okay for president obama is not okay for President Trump. That is just not right. Third, the left cant get over its string of electoral losses. The house, the senate, the white house, 900 state legislature seats and countless governorships have all fallen to the republicans. The left is stunned. Theyre filling the void with hatred and contempt. This is not good. It is the left which is dividing our society. It is the left which is holding us back. It is the left, the coastal elites who hold the rest of us in contempt, look down on us and call us names. I dont know about you im not just going to get used to it. Second hour of Varney Company is about to begin. Stuart okay, i will calm down. The big board shows a loss 2points. Latest read of consumer sentiment, lizzie. Liz 97. 7, better than expected. Elevated optimism. Fivemonth average. January read something best in 13 years. The Financial Outlook for individual households is at 50 plus. That is the highest in 15 years. Meaning people who are feeling better about their finances. Remember the gdp read was coming in a little low . People feeling better about the finances and Consumer Spending powers the economy, this is a good read. Stuart a solid read, optimism, confidence still have at very strong highs . Liz that is correct. Stuart no impact on the big board, were down 25, 30 points as we speak. Were just sigh of 20,900. How about this, lower sales at jcpenney, lower sales at nordstrom. Bricks and Mortar Stores showing weakness. Jcpenney down . Same as nordstrom, down 8 . Let me check the big name Technology Stocks we check every day. Apple another alltime high at apple. It is at 155 as we speak. Amazon, 953. All of them close to or at alltime highs. Want to get back to the my take editorial near the top of the hour. Im saying that allies of the left and Mainstream Media are just spewing contempt on President Trump. Joining us now, republican governor of ohio, he is the author of the book, two paths, Governor John Kasich joins us now. Governor, welcome to the program. You have a smile on your face because i suspect you do not agree with my editorial about the left spewing contempt on our president. Go ahead. Stuart, no, what im saying is, look, the media has responsibility, right . If youre going to write a news article, dont make it an editorial. If youre writing editorials, then you have to sift around and figure out what you belief. For me i consume enormous amount of information every day to try to find out what i conclude from reading everything, but i think it is very important as i mention in my book, the media has a big responsibility. I look at the last election they made a lot of money. Stuart do you think theyre livingp to their responsibility . I have never seen anything like weve seen the last six month . Some are and some arent. I have never known an Ad Administration that didnt think the media was after them, not one. You know the obama administration, clinton administration, bush administration. Look, when you hold these jobs, stuart, like im the governor here, right . I get attacked all the time, and so the question is, how do you deal with it . Do you try to be patient, explain your point of view. But at the end it is, like what harry truman said, if you cant stand the heat you got to get out of the kitchen. I feel though there have been things written about me that are cheap shots. I have to do my job, not let it get to me. I let my press people deal with it too. There are growing numbers of americans, growing numbers of americans who dont think theyre getting honest news an, it is a concern. It literally is because these are people who are highlyessful. They share some of the views that you have. This is the problem. Stuart governor, i have never seen it as personal as this. Mainstream media loathes this president , loathes him. I, stuart i will not have a debit the media. I told you what i think. I think you should not be doing editorials as a, calling that news articles. Leave editorials on the editorial pages. There is leftwing, there is rightwing, there is all kinds of stuff. We went for a long time in this country where there were big group of people who said that barack obama was not born in america, you know . That he is some muslim or something. I mean it is everywhere. All it does, all it does, lets get to the bottom line on this, stuart, it divides us as people. Stuart yes. And our country is never going to be strong if all were doing is fighting with one another. Frankly, i will tell you, and i point this out in my book, that why, what we need to be more concerned about is what is happening in our own families. What is happening in the house next door to us. Not focused on this policy and that policy in washington because even though they after fact us, most things that directly affect us each and every day is what happens next door. And so im also a believer that we need to learn again, to love our neighbor as we want our neighbor to love us. If a media person will act, think about what it would be like if somebody attacking their son or daughter themselves. I think this values question about us being able to unify is important. Doesnt mean we have to give up what we believe. I think you need to talk to these people that you dont agree with, look, i dont think youre carrying out the responsibility. Have a civil discussion. Stuart now i have known you for many years, governor. I know that you are a christian, a practicing christian. You are a believer. Well i fail every day but trying to be a man of faith. Stuart of course we do. Not you as much. Im a number one failure. Stuart stop it. Flattery is the mothers milk of television, sir. Does your christianity, your faith, your belief does it infuse your politics . Not really. I dont read the bible to figure out how i am going to make a decision. I will tell you, as a result of looking at what, you know, i think all the religions would basically agree, that you cant ignore the least of those in your society. That doesnt mean you tear down the people at the top in order to help the people that are down below but they need to be, we need to be concerned about them. So there is things that make me, you know he, im very concerned about people who live in the shadows. Does that come from, you know my faith . Part of it does. Part of it comes from the fact that i want people to be healthy. I want them to have a chance to rise. Whether Ronald Reagan or john kennedy, a rising tide lifts all boat, give everybody a shot in your society. Doesnt mean a hand out but a hand up. Stuart yes, sir. Governor im afraid were out of time. Always good to talk to you, stuart. I havent talked to you for a while. Youre something, man. By the way i do want to tell you, i do want to tell you this. We do have a revenue problem in our state and all across the country. We need to have deep, strong Economic Growth. Stuart yes. I do like that section of the president s tax cut proposal that helps Small Businesses very, very important. And in dealing with the corporate rates. I think top rates, marginal rate, im not as concerned about frankly as i am corporate rate and also those provisions that help small business. I think that would help our economy to grow and help people. Stuart governor, im very glad we got to that. Dont be such a stranger to Varney Company. A lot of people watch us. I wont be, stuart, thank you. Stuart thank you, governor, appreciate it. Lets get to the firing of james comey, shall we . The media is relentless about the president s action and the president is tweeting this morning about it. Here we go. Again the story there was collusion between the russians and Trump Campaign was fabricated by dems as an excuse for losing the election. He continues. The fake media is working overtime today. Christian tate joins us, government gone wild. She is the author of that book. I like the title by the way. Thank you. Stuart libertarian, right . Yes, yes. Stuart what is a libertarians view of this brouhaha about the russians and President Trump and comey . Give me your take. The bottom line the media will do anything in their power to take trump down. This is the height of hypocrisy. In the fall the media was horrified comey is staying. Now theyre horrified he is going to be fired. Does anyone in this country really take the media seriously . Anymore. They dont try to hyde their bias. They are flagrant and open about it. A lot of these outlets basically just arms of the Democratic Party. If you want to talk about the campaign, 91 of their coverage towards the Trump Campaign was negative. 97 of Media Campaign donations went to Hillary Clinton. I think has gotten a lot worse since he got into office. Stuart my problem is, the media is very, very strong. We all consume media. We all watch television. We all read newspapers, or we get it in on our facebook feed, whatever. They are defining and controlling the culture. I really object to that. Theyre making these things into collect tiffists . You know, stuart, the American People are not stupid. They know exactly what is going on. Why only 32 of Americans Trust the media today. The more this bias continues, the less influence these outlets have. The New York Times, theyre not changing anyones mind. The only people who read that anymore are lattesipping liberals on Upper East Side already deep in the Democratic Party. New york times, washington post, a lot of these outlets basically become spinoffs of mother jones. Thankfully for us conservatives we have diverse pool of Media Outlets to choose from, fox, things online. There are all kinds of voices can will come at the table now. Stuart youre right on all counts but youre wrong on one. It is lattesipping liberals of upper west side, not Upper East Side. I live on Upper East Side. There are a lot up there. Stuart take your word for it. I live in new jersey. Kristin, thanks for being here. Thanks for having me. Stuart all right. The President Trump will give the commencement at, Liberty University this weekend. This as Commencement Speakers become increasingly politicized. All over the country. Libertys president will join us next. At crowne plaza we know Business Travel isnt just business. Theres this. a bit of this. Why not . Your hotel should make it easy to do all the things you do. Which is what we do. Crowne plaza. Were all business, mostly. Listen up, heart disease. you too, unnecessary er visits. And hey, unmanaged depression, dont get too comfortable. Were talking to you, cost inefficiencies and data without insights. And fragmented care stop getting in the way of patient recovery and pay attention. Every single one of you is on our list. For those who wont rest until the world is healthier, neither will we. Optum. How well gets done. I am honored to become a while cat. [booing] wildcat. Its a real honor and privilege to be with you as we celebrate the Bethunecookman University of class of 2017. Stuart you could hear it, education secretary betsy devos booed by students during her commencement speech at an historic black college. President trump will speak at Liberty Universitys graduation. Here he is, jerry falwell, jr. , the president of Liberty University. Why did you invite President Trump, sir . Good to be with you, stuart. I invited President Trump back in december. I got the acceptance in march. Were just so honored as a university to have sitting u. S. President to do first commencement speech at liberty. For generations tradition was first president to do his first speech at notre dame. There were protests there this year. It is so disrespectful, these universities, many elitist universities, we have high regard to be notre dame. We inspired to be for evangelicals what notre dame is for catholics. Places like berkeley and ivy league, liberals used to defend free speech. They used to be about Academic Freedom and Free Exchange of ideas. Now they seem to be fascists. They want to shut down any view pint they dont he dont agree with and disinvite speakers. Mayor bloomberg spoke at harvard and part of his speech was chastisthe ivy league because, 96 of their staff voted contributed to the Obama Campaign the year before. Stuart what would you do if some student at Liberty University if they booed or turned their back on the president or in some way insulted him . Would you do anything to those students . Absolutely not. And you know, im so proud of our students. They treated Bernie Sanders with utmost respect even though most of them didnt agree with a thing he said. And there might be a few that there that dont agree with Donald Trumps policies but, i really expect them to show the same respect they showed to Bernie Sanders. And i wish other universities had that same decorum. I remember when my father was back in the 80s, i traveled with him when i was in law school. He spoke at a lot of ivy league schools. Back then they would welcome conservative speakers. They would pack the auditorium out and they would boo and his some, but at least then, they didnt try to disinvite them or kick them off campus. So it has really gotten worse since the 80s ive noticed. It is sad. Stuart Liberty University is the home of he evangelicals primarily, i believe. What do you make of pope, of President Trump visiting pope francis during the gsummit . G7 summit . I think its a good move for him. Pope francis has more in common politically with obama than he does with President Trump but i think they can maybe work past some of those differences. Seems to me like the pope is more of a socialist than than any pope weve had recently but, i think, i think President Trump will make some inroads there. I hope he, i hope he does. Stuart jerry falwell, jr. , well be interested to see what President Trump says at the commencement speech this weekend. Thank you for being on the that he today. Good to be with you, stuart. Stuart thank you. Stuart next case, liberal lunacy on examples, other campuses. University of arizona paying students to rat on their peers. Can you believe that . Theyre doing it. University of boulder creating a dorm for black identifying students, as selfsegregation. Were all over this one. Well be back. You always pay your insurance on time. Tap one little bumper, and up go your rates. What good is having insurance if you get punished for using it . News flash nobodys perfect. For drivers with accident forgiveness, Liberty Mutual wont raise your rates due to your first accident. Switch and you could save 509 on auto insurance. Call for a free quote today. Liberty stands with you™ Liberty Mutual insurance. Stuart look at this. Pandora, the stock is ups nicely. Money manager Steven Cohens firm taken reportedly a 5 stake in it. That is good enough for 4 1 2 gain for the stock. Look at this. Political commentator, boy a darling of the left, noam chomsky is attacking the republican party. Here is the headline from the Washington Times quoting chomsky. Republican party, the mess Dangerous Organization in Human History. Overstatement perhaps . Kirsten tate is still with us. Republicans, noam chomsky, this is a guy i remember back in the 60s and 70s. He says be republicans are more dangerous than isis and north korea. Liberals are starting to go off the deepened comparing republicans to isis. I dont remember republicans chopping the heads of christians raping women they make the comparisons and get away with it. The media hasnt reported on this story much. Stuart if there were something similar said about president obama at any point in his eight years, i suspect the reaction to be completely different. You would be done for. Whoever said that would have career ruined, called racist. Ashley actually. You know why theyre the most Dangerous Organization in the history of, Human History . Climate change. Stuart that is his reason. Ashley Climate Change. Liz republicans are backwards on Climate Change. He equated this to terrorism as well. That is the theme that republicans want to wipe out the planet because theyre not serious about Climate Change. Stuart noam chomsky, wrote about language and how children learn language from leftist perspective. I remember this back in the 60s. Ashley sure. Stuart now Climate Change because republicans are not on board with legislation. Ashley americans only country in the world under republican as who deny it. The u. S. Is alone against the rest of the world. That is why gop is so dangerous. Liz republicans dont decline Climate Change. Cheney says its happening. Mccain says it is happening. This is broad generalization. Stuart republicans have the problem are way we deal with it. Liz that is the issue. Or extent were causing it. Ashley yeah. These are comments when democrats say this stuff, people roll their eyes. They lose their credibility. This is ridiculous statement. Stuart yes it is, kristin. Thanks for being with us today. Thanks for having me. Stuart dems in disarray, continuing to make wild claims. One says a paul revere moment is coming. You wont believe it, but we do have the story and you will hear it in a moment. Hi, im mindy kearns. Its great to finally meet you. Nice to meet you too. Your parents have been talking about you for years. Sorry about that. Theyre all about me saving for a house, or starting a college fund for my son. Actually, i want to know what youre thinking. Have a seat. Knowing that the most important goals are yours. Multiplied by 14,000 financial advisors, its a big deal. And its how edward jones makes sense of investing. Stuart wait i was trying to get into this, this is the beatles. I do kind of a like the beatles. That was a fine, fine song. Happy mothers day from everyone here at Varney Company. Here are some of my producers with their moms. This is sample of them coming on your screens. Ashley very young. Stuart right. From some time ago. Happy mothers day. It is sunday, all good stuff. Now this. President trumps lawyer making a statement about the president as tax returns. Were quoting from the Associated Press . Ashley says the trump lawyer says tax returns from past 10 years show no quote, income of any type from russian sources, unquote, with few exceptions. Stuart no income of any type from russian sources with few exceptions from the president s tax returns of last 10 years. Ashley correct. Liz ashleys point, what the lawyer is saying, russians dont own stock in any trump entity nor does the trump empire owe any debt with the exception of Miss Universe pageant in moscow, income from there. 95 million from the sale of trumpss house in florida to a russian fertilizer king, a billionaire. In 2008. Stuart that is what the lawyer says looking at the tax returns. That will not satisfy the democrats. It will not. However they said it. Check your money please. The dow jones average down 40 points, just shy of 20,900. Look at the fabulous five. Particularly ones at bottom of your screen, apple. Hit alltime record of 156. 42 a few moments ago. Still holding at 155. Marginal, fractional moves down for facebook and microsoft and alphabet. Theyre still way up there, are they not. Now a couple of headlines for you from, this is happening on College Campuses in the United States of america. The university of colorado at boulder creates dorms, segregated for blackonly students and their allies. Thats their choice. Segregation. University, or Arizona University paying students 10 an hour to report bias incidents on campus. That would be campus snitches, isnt that right . Charlie hurt joins us. You see him frequently on this program. Founder of turning point usa. You have been appearing here for many, many years you acknowledged nonsense on campus and it looks like it is getting worse . I would blame the negative trend from trumps election. The left is overplaying their hand. They look at campuses the battleground. If the left lose stranglehold on this what influence do they have . All their influence in culture originates in academia. If there is equal lick bream restored on College Campuses you will see conservatives do much better for 40 or 50 years. Tennessee passed state legislation statewide gets rid of free speech zones. Stuart really . Pockets of the country going well. Berkeley not so much. Stuart on College Campus there is is certain zone, can say what you like. Isolated. Size of a couple parking lots. For viewers dont know, free speech zones. You can only speak freely on campus within those zones during certain hours after preapproval and you get a license from the administration. Stuart youre kidding me . Not making this up. You have to get approval from the administration. Stuart what youre going to say,. What youre going to say or do or advocate. If you talk outside of the free speech zone, then youre subject towards, you could be reprimanded. You can be brought into the office for having trigger warnings or microaggressions. Now what is the most concerning thing, on College Campuses administrators are teaching students that being offended is a form of assault. Think about that. Like being punched in the jaw is the same as you said something that really offended me. As an example if you say the term radical islam and a Muslim Student says that offends me, that is assaulting to me. They can literally censor speech because of that. Of course never towards conservative students. Stuart never ever, ever. In tennessee they say stop that. State legislature. Thats right, they passed an incredible bill i hope the federal level looks at closely and other states where they say, no more free speech zones. University does not have the a ability to disinvite a speaker a Student Group wants to invite on campus. This is something that everyone should support but unfortunately, the left doesnt want free speech. They want protected speech. Stuart charlie, thanks very much for coming on board with a report like this. Im on the front lines of this every day. Stuart turning point usa. Thank you. Stuart youre still going to be president in 2040, whatever it is . I dont know about that but well change campuses in the meantime. Stuart kirk, youre all right. Thanks for joining us. Now this. Democrat, literally hysterical over the firing of james comey. Listen to senator cory booker on the clinton news network, cnn roll tape. Donald trump clearly has not taken this seriously, what should be a paul revere moment for our country where people are talking about the russians are coming, theyre intending not only to attack this past election but intending to continue this behavior, what will our response be . Right now it is wholly unsatisfactory from this administration. Stuart the russians are coming, the russians are coming. Look at that man, smiling now. Well see if he smiles two minutes time. Lawrence jones joins us from the blaze. What do you say, brother, the russians are coming . All i want to know, stuart, where were the democrats back in 2012 when mitt romney was talking about russia . They made fun of him. Media made fun of him. Now all of sudden were supposed to stop what were doing, russians will take over america. Donald trump is double agent for russia. Stuart [laughter]. Not smiling now. Seems to me, that the response of the left to this whole story about the russians and emails and hacking all the rest of it, it verges on his tear you yaw. It is personal hysteria. It is personal. I feel they loathe President Trump. How about you . I feel like they loathe him you but also are straight up lying. Weve heard a lot of them, reports and the media of course say, hey, fbi director was requesting more resources. Acting fbi director said that is not true. Donald trump is under investigation when really campaign but it is not donald trump. That was confirmed by chuck grassley. Dianne feinstein also a democrat, and president himself, so were seeing a lot of rhetoric back and forth, back and forth but it is not the truth. Stuart do you think it will calm down at all in the immediate future . Oh, no, because theyre banking on this. This is their rallying, rallying call to get democrats involved, to enlighten their base. But what they forget is, donald trump has a direct connection with the American People. Sometimes i want him to stop tweeting but sometimes i think he connects very well with the people and so theyre not, so concerned what the press or democrats are saying. Stuart speaking of tweeting, listen to this. President trump trolls Rosie Odonnell on twitter, after she called for james comeys firing months ago. This is the tweet from mr. Trump. We finally agree on something, rosie. Your reaction . This is funny. That is why i like about donald trump. Calling out the hypocrisy. It was not just Rosie Odonnell, a lot of democrats calling for him to resign. Calling for him to be fired. All of sudden because donald trump did it, they want to question the timing. Stuart i have to ask you, youre a black guy. Youre relatively conservative. You like free markets. Youre do you catch hell for it because of what you say and who you are . Yeah. Well, stuart, first of all im not black, im chocolate. I embrace my inner chocolateness. Stuart what am i, chalk . [laughter]. I love everything about being a blackamerican. I love being american. I connect very well with my community. There is a lot of people on social media that want to send death threats. I connect with my people. I try to expose the left what they do and give my community a better option. We know the Democratic Party failed my community for many, many years. Im fred fed up with it. Stuart lawrence, let me tell you something, to me youre not a victim. Thats right, thats right, sir. Stuart you can come back anytime you like, okay . Anytime you like. I hope to see you in new york soon, brother. Stuart youre on your way i hope. Lawrence jones, thanks for joining us. See you real an soon. Thanks, brother. Stuart we have a breaking news story. Streaming Music Service none known as spotify. Theyre going public . Ashley theyre going public, but do it in a unusual way. They will direct list. There are no underwriting or set price for the shares. Go to the New York Stock Exchange and list them for sale to the public. It has been done before just like that. Sometime later this year or early next year. Liz you can get into it. Usually set aside shares for friends and family. Stuart one day they front up on the exchange i have shares for sale, who wants to buy and what price . Ashley that is direct listing. An interesting twist on going public. Stuart that really is. I never heard of that before, never ever. Liz interesting stuff. I think 8 billion valuation on this one, pretty high. Ashley it is pretty high. Stuart love it. Thank you. Ashley sure. Stuart Physicist Stephen Hawking says humans must colonize another planet in 100 years or we face extinction. Up next a guest who says hawking is just play wrong. Usaa gives me the peace of mind and the security just like the marines did. The process through usaa is so effortless, that you feel like youre a part of the family. I love that i can pass the membership to my children. Were the williams family, and were usaa members for life. Brtry new Flonase Sensimists. Allergy relief instead of allergy pills. It delivers a gentle mist experience to help block six key inflammatory substances. Most allergy pills only block one. New Flonase Sensimist changes everything. Ashley listen to this, john michalson, ceo of michalson Capital Partners says innovation boom is quote, happening now. Roll tape. Weve had innovation in the last decade. You can see it in the consumer with amazon and uber. But every prior crash has been followed like 2008, the 70, 20s, going back to the 19th century followed by massive restructuring in the economy and massive innovation and massive transfers of wealth from the rich to the middle class and new innovators. It didnt happen after 2008, and that is really the story why it will happen now. Think your Large Cap Equity Fund has exposure to Energy Infrastructure mlps . Think again. Its time to shake up your lineup. The alerian mlp etf can diversify your equity portfolio and add potential income. Bring amlp into the game. Before investing, consider the Funds Investment objectives, risks, charges, and expenses. Read the prospectus carefully at alpsfunds. Com amlp stuart sure youre familiar with Stephen Hawking a very famous physicist. He issued a warning, humans have only 100 years left on this earth, then they have to colonize another planet. He says our planet, the earth is doomed. Our next guest says he got it all wrong. Here is the quote from our guest, here it is, look for the adventure i go to mars this minute. For refuge, no thanks, stephen. I plan to stick around hoping to leave a better place than i found it. Here is michael gillian, author of upcoming book, the nul prophecy. Where is hawking so totally wrong that the either is doomed within 100 years . Listen, good morning, stuart, the man is entitled to his opinion and were entitled to not to take him seriously. The problem es Stephen Hawking is using his scientific credentials to make statements not at all scientific. He knows, i know, that science does a lot of things but it does not have the power to look into the distant future and predict a specific outcome. He of all people he should note this, when he was 21 years old, doctors diagnosed him with lou gehrig disease. When they looked into all the latest mical sence, yoknow you will not survive beyond 25. Now he is over 70 years old. He can make sensational prognostication, if he does he should leave university of cambridge and join the psychic hotline or better yet hogwarts, become a professor of clairvoyance. Stuart he is basing his gloom and doom forecast essentially on Climate Change. That is what it is all about. Not just that. Overpopulation. He is worried about these nearearth objects, objects that come perilously close to impacting the earth. He is talking about drug resistant diseases, there is whole laundry list, believe me, im on board. We have a lot of problems but, again, where i fault him is to make this very specific prediction 100 years from now the clock is ticking since last november, he said with near certainty, those were his words we had 1000 words. So what changed . Stuart brings discredit on whole idea of scientific prognosis looking into the future. Exactly. Stuart discredits look into the future. Look, weve got, we found some scientists found unexpected source of, what some are calling climate cooling. Yeah. Stuart i want to know what you think about that. Arctic waters absorbing vast amounts of Carbon Dioxide. That creates they say a cooling effect many times larger than the warming emitted by methane gas. To many of us that is gobbledygook, can you put it into perspective, please . This was published in the National Academy of scientists last week. Author a guy from the usgs, geological survey, very credentialed worked with people in norway and germany but here was the gist. We hear a lot about Climate Change. That is subject become very, very politicized, so very difficult to tease out what is true and whats not but here is the thing, very exciting. And that is people hear about Carbon Dioxide being the bad guy, that more Carbon Dioxide gets into the atmosphere hotter it is, indeed, Carbon Dioxide is what we call a Greenhouse Gas, it causes the earth to warm up, even worse than that, 30 times worse than that is methane. Methane molecule for molecule 30 times more potent as a Greenhouse Gas than Carbon Dioxide. We worried a lot about places in the ocean all over the earth where we see methane welling up from the surface of the oceans. So these scientists went to the arctic, just off the coast of some norwegian islands, expecting to measure how terrible this was, that this methane was the coming up from the surface, bottom of the arctic orb shun there, going into the atmosphere and causing warming. What did they find . But that for reasons that we dont know yet, this is what make this is story so very interesting, is that yes, they did find some methane as they expected coming up, but they found Carbon Dioxide was being suckedded in at enormous rate. Carbon monoxide was being removed and net effect was that the cooling resulting from the rye move of the Carbon Monoxide at these locations is 200 times for more cooling due to removal of the Carbon Monoxide than the heating being caused by the methane. So this turns the narrative completely upsidedown. Stuart michael, ive got to leave you but i have not heard about Global Cooling since it was either Time Magazine or newsweek put it on the front cover back in the 1970s. I do remember that. Michael gillian, author of the book, the null prophecy. Always a pleasure, stuart. Stuart how about this. We reported a story for some time. Chaos in venezuela, more violent protests. They turned deadly. Late of the news,. Liz liz it is getting worse. Maduro treating people in the protests like enemy combatants. He is putting them before military tribunals. Meaning theyre inciting rebellion. He is already treating his opposition as if theyre committing terrorism. But now, these regular moms and pops and students are being put before judges from the military, and theyre sent to prison. So 120 people in prison right now, im talking farmers, mechanics, entire family was sent to prison from military courts of justice in the tight grip of maduro. More news is coming out. Maduro fired his Health Minister for publishing infant and maternal mother mortality statistics. Stuart which are through the roof. Liz through the roof. 39 people dead in six weeks of unrest. Stuart dreadful situation. Collapse of socialism. Never put that way in the establishment media. Collapse of socialism. Liz thats correct. Stuart everywhere you look, contempt for President Trump in the media. There are plenty of positive things happening in this country. Economic optimism is here. Well show you numbers. My take at top of the hour at 11 00. More varney after this. Because as we live longer. And markets continue to rise and fall. Predictable is one thing you need in retirement to help protect what youve earned and ensure it lasts. Introducing brighthouse financial. A new company established by metlife to specialize in annuities life insurance. Talk to your advisor about a brighter financial future. Stuart well listen to that. Interesting music choice i would say. One of our viewers wrote in about our music selections. He doesnt like the music that we play. This is from phil. Here we go. I am writing in regard to a minor issue and a mild irritant at least to me. The peeve is the music played when the show goes to a break. This music targets much younger crowd than those who watch varney. Whoever the producer in charge should have a good talking to and be told he or she is annoying a lot of viewers with his or her misjudged belief what we would prefer to hear. Nothing would be better. Ashley and liz are laughing and i dont know why. Liz i say it is better than, better than the funeral music you hear at msnbc. What you play at the breaks. Stuart wellsaid, liz. I knew i liked you. Ash . Ashley nothing wrong with little young or pep, markets are up. We cant always be doing old school music. Life is variety is the spice of life. That is true with music as well. I understand things he is saying what the heck is that . You have to take it all, enjoy it. Liz you have said that. Ashley quite frequently, as stuart. Stuart you dont like the beatles, is that it . Ashley i love the beatles. Cant play it every day. Stuart Rolling Stones fan. What is that other one liz led zeppelin. Nothing but led songs. Beatles are the first boy band arent they . Stuart stop it, stop it right now modern music, on this program, and thats what were going to do. Take not say take it or leave it. He might leave it. Welcome abod, everybody, new brand of music on this program. We hope you like it. We will be bark with more of it. Stuart ive been talking all morning about the current hate filled political environment, politics has indeed turned very ugly. But, please, lets not ignore all the good things that are happening in the economy. Item one, new claims for Unemployment Benefits are at a near 30year low. The firing trend is done. Employers are gearing up for expansion. This is very good. Two, corporate profits are the best in six years and lets get over the lefts idea that profits are bad. You need profit to invest for more jobs and better pay, thats very good. Three, starting salaries for this Years College grads average 49,785, the best in decades. Number four, youngsters just starting out on now buying homes rather than renting. Double the number of firsttime buyers over firsttime renters, pretty good. You will not hear much of this in the Mainstream Media, they are far too busy drumming up hatred for our president , make no mistake, it is President Trump who has inspired this good economic news. He has a growth plan and the left does not. Lets please remember, what effects your life more, the firing of james comey or a job, a house, a 49,000dollar a year fresh out of stuart okay, you got your point of view and im glad you shared it with us. How about retail ice age, you know thats the story that we feel very strongly. Im going to give you two companies right now, jc penny and nordstrom, their sales are down over the previous year, we had berg on the program earlier, hes the guy who coined the phrase retail ice age. Theyre going to be many more casualties filing for bankruptcy, liquidation, retail rationalization. I have a shocking idea, make some money, thats going to make it all going away. Stuart the guy in the cow jacket, he was talking about sears, we have too many customers as the stock goes down and down and down. Leanor, whats your take of bricks and mortar of our economy . It ssight at the intersections of two investing things, the cash dropped consumer, the reality is that Household Income today is below where it was in 2000 and real wage growth since the financial crisis has been relatively nonexistent. Families are pinching their pennies and a heck of a lot easier to compare prices by whipping smartphone and online and getting on the car and spending any to try to find the best deal. Stuart are there any groups of stocks like the big Technology Companies on our screens right now, some of them, that you would buy . At these prices im hesitant to hop into anything. We have the s p 500 right now, two standard in deviations above where it normally is. Right now stocks are really priced high and the highflyer stocks, theres only six stocks that have accounted for about 40 to year to date gain. Stuart that is true. I hope you have a very good weekend. You too. Stuart i hope the people who you manage money for are watching the program and listening to what you had to say and i hope you didnt miss 10 rally since the election of President Trump. Not at all and i like your music. [laughter] stuart manages money both here and europe and we appreciate you being with us, thanks, leonere. Thanks. Stuart come on in, please, radio host larry oconnor, the weekly standards online editor. Larry, you talk to people every day, my premise is that all the stuff about comey and political turmoil, it goes peoples head and ignore whats happening in their lives, much say positive, what say you . Its made for manhattan kind of story and as a new yorker im impressed actually as a new yorker that you can look beyond that. I can tell from your thick queens accent that you have a new yorker. Its true. Actually you left one out and that is all of the job openings and the manufacturing base, we heard about that on wednesday. Thats a huge thing for all voters that were overlooked in michigan, wisconsin and pennsylvania and the democrats and the media are making the same mistake that they made during the election, they are focusing on hatred of donald trump instead of focusing on policy and prove positive is this, you ask any hillary supporter or democrat what is your objective opinion of james comey as fbi director and theyll say they hated the guy, so this all all of the hysteria over james comey doesnt resinate with voters because most Trump Supporters and most hillary supporters both agree on one thing, even Rosie Odonnell and donald trump agree on it. Comey was not a good fbi director. Stuart what strikes me is the personal nature of the attacks on President Trump and his administration. It is personal. They loathe this guy. Do you pick this too . Republicans and establishment share in that. He alienated a lot of the republican establishment here. Not Republican Voters and not only is it personal but also staking their claim on the high negative ratings of donald trump, again, exactly what they did in the election, they think that the American Voter cant pull the lever and actually support a politician who they may personally not like but at the same time they like their policies and i think thats a real miscalculation. Stuart dont be such a stranger to the short, we want to bring you shortly. Stuart, i love coming on kanye and company. Stuart im going to call this a warning sign economically, its a record amount of debt held by millennials, give me the story. Liz a third of the nations consumer net, 1. 1 trillion out of the 6 trillion thats out there, Consumer Debt we know is hitting its still at record levels through the roofs. This is a policy issue for washington, d. C. Colleges and universities are nonprofit, skyrocketing tuition debt is gouging middleclass families, this is an Economic Growth issue, when you have the colleges gouging, these students, they cannot make the bigticket items that power the economy forward. Stuart all of them. Thats a problem. Thats one economic negative stacked against one of the positives. Health provider Bluecross Blueshield is partnering with lyft for free rides, whether he tell you why they are doing this . Just a moment. Lets get to venezuela rock bid more violent protests this week, next up we will joined by a man who said President Trump would be the man who save venezuela and we will be back. [vo] when it comes to investing, looking from a fresh perspective can make all the difference. It can provide what we call an unlock a realization that often reveals a better path forward. At wells fargo, its o pertise in finding this kind of insight that has lead us to become one of the largest investment and Wealth Management firms in the country. Discover how we can help find your unlock. Stuart breaking news, trumps tax returns and russia, we have a letter to that effect . Ashley we do. This is from a lawyer and tax preparer of donald trump who the president asked to go back ten years and thoroughly review in federal tax returns and came back and basically said, there is no with few exceptions as detailed below your tax returns do not reflect any income of any type from russian sources. So you ask yourself what were some of the exemptions, a 95 milliondollar property sold to russian billionaire back in 2008 that was the investment that lizzie was talking about in 2013 Miss Universe pageant. Theres no Equity Investments runed by donald trump or debt owed to russian lenders. Would that be enough for the democratic critics . No. Stuart they still want to see tax returns. More violence in venezuela, very ugly, massive crowds to protest socialist government. Theres a way that President Trump could help them, martin, venezuelaamerican Leadership Council president is with us now. How can we help, whats the solution here . Well, good morning, thank you for the invitation. I do believe that President Trump has a great opportunity to help a country which is submerged in a very difficult time, government thats being basically taken over by a drug cartel, a little criminal organization. We have to acknowledge that President Trump start his term and the very next day of the day that he took over the white house the process of designation of Vice President as king pen was requested during president obama and holded and President Trump move forward and approve it with the new secretary of treasury. Action like this can be used to attack this criminal organization is running a country. Im sure most of your viewers have seen the syrian articles, this is the closest to that you can get. Stuart im not sure not quite clear, martin. What should we do, prosecute members of the government on the grounds that theyre drug smugglers or drug people . Well, theres two ways to do it, federal jurisdiction in the United States, florida and new york mainly has been taken care of persecuting those people in the government who is fueling drugs in the United States every day. The other way of action is using legal powers that the government has to move sanctions against the key people who hold the money for this criminal organization. Thats very effective. Stuart should we send any food . Well, the United States government we heard that they are ready preparing to have humanitarian support eventually. The problem you have right now is as long as this criminal Organization Keep running the country, its very hard to do it because they dont want the United States government to come and offer the help, but, yes, at some point it will be very well welcomed by the venezuelans who are dying. Stuart should we have our cia have quiet word with venezuelan and say, dont get on the way, we will change the government . Theres a limit on how far we can change with sanctions or prosecuting drug criminals. At this point, doesnt it come to action, come on, we have a cia, whats it for . Absolutely agree with you. Yesterday director mike pompeo made a good statement in the senate where he basically acknowledged that the Venezuelan Military are allowing colectivos to transfer weapons and use civilians which are basically i think this is a strong message that can be basically delivered by the cia. Stuart good stuff, thanks for joining us, we will see you soon. Thank you very much. Stuart health provider, Bluecross Blueshield partnering with lyft the car service, offering customers free rides to the doctor. Thats new. Ashley this is interesting, they dont have to have the app. So when you make your next doctors appointment theyll find out do you need are you in an area thats not very well served for Public Transportation and they will arrange with lyft have you picked up and taken to the appointment. Stuart who pays . The Doctors Offices are covering the costs with lyft. I think thats a great deal. Stuart great deal. All good . I said it at the top of the hour, every way you look pure content for the president and the media. Later this hour we are joined the former nbc chair bob wright, he knows a thing or two about the Mainstream Media and hes on the show. I want to bring you this, a shot warning in california, dozen of great whites spotted off california coast. Dana point, i know that area very well. A warning to a group of paddle boarders, listen in. Attention in the water, this is the Orange County state department, let you know you are paddle boarding next to 15 great white sharks. Stuart how would you like to hear that . Officials said the number of sitings has increased because of a driving ecosystem in the area, you get it all on Varney Company. Stay right there. [phone ring] hey dad. Hey sweetie, how was your first week . Long. Itll get better. Im at the edward jones office, like sue suggested. Thanks for doing this, dad. So i thought it might be time to talk about a financial strategy. You mean pay him back . Knowing your future is about more than just you. So lets Start Talking about your longterm goals. Multiplied by 14,000 financial advisors, its a big deal. And its how edward jones makes sense of investing. Wont replace the full value of your totaled new car. The guy says you picked the wrong insurance plan. No, i picked the wrong insurance company. With Liberty Mutual new car replacement™, you wont have to worry about replacing your car because youll get the full value back including depreciation. Switch and you could save 509 on auto insurance. Call for a free quote today. Liberty stands with you™. Liberty mutual insurance. Stuart i know it. I do. One love. By the way, ben and jerrys the ice cream people taking inspiration of the song. Banana ice cream mixed with swirls of caramel and cookie and chocolate piece signs. Ben and jerries socialists. Ashley they should go to venezuela. Stuart youre terrible. Unveiled a new watch, people suffering with parkinsons. It may be able to be aware that somebody has parkinsons early on. Thats huge. Stuart i just like to see cash moving to medical arena, research have already started trails. Check out big board we are coming back, a very small loss, though, down 26 points, apple spending a billion dollars to expand their data center in nevada. The tech giant is making a big money from its online services. We are talking storage for your photos, videos, streaming music, thats outshining the sale of their devices, apple is at 156. Now, this california governor jerry brown pulling funding from the university of california after audit revealed the school has been raising tuition despite a big cash pile. Yes, weve got stories on that one for you and President Trump taking heat from Mainstream Media but we are focusing on the positives of the economy, there are plenty, here is one, unemployment fall to go lowest level in almost three decades. We are on it. We will follow it next. Here comes the fun with seadoo. Seadoo has the most affordable watercraft on the market. Starting at just 5,299 and get 0 percent financing. Visit seadoo. Com today. Stuart President Trump is taking a lot of heat from the media but what about all of the signs that the positive signs we are seeing on the economy . Lets bring in michael, Employment Policy instate managing director. Michael, here is my list of positives u unemployment claims lowest in nearly 30 years u profits up 13 , best performance in six years, starting salaries for graduates, 49,000 a year, best in decades, more home firsttime home buyers than firsttime renters. I call that all of positive signs which we are not hearing much about, what say you . I would like to contrast with the approach thats being taken, i think, in left of center stage right now. You look at the National Data and you see that hypotheticallening labor market means more people who want fulltime jobs can find them meanwhile later this month new york city will vote on a bill thats designed to use the heavyhand of government to boost fulltime employment by penalizing employers for making scheduled changes for part time employees. Its another example of Market Forces actually providing the kind of opportunity that people want as oppose to the sort of heavyhanded mandates that we are seeing on the coast. Stuart i think you have done a study of minimum wage hikes and the impact on restaurants, tell us whats happening to them . You know, we have actually been looking at the city of San Francisco, i mean, in the bay area alone, you know, since the fall of last year over 60 restaurants are closed more since the beginning of the year and what we are finding is i think San Francisco sort of thought that tourists and techies would be willing to pay the cost of higher minimum wage. Restaurants there are closing up and other industries are looking for the exit. We are seeing the signs that theres no free lunch in the minimum wage debate. I think its standing as an example for other cities and other states around the country, a warning sign that this is what happens when you embrace the recommendations of the fight for 15. Stuart you made a statement those people who got part time work are looking for fulltime work and they are finding it. Whats the statistical basis for that . I was reading a usa article that looked at the trend over time. I think theres been a lot of concern and you heard a lot of rhetoric specially on the coast about workers who like to be working more hours and so i think the important thing tends to be making sure that employers have the freedom to provide opportunities, seattle, new york and possibly new york city that try and mandate that and specifically do it in the restaurant industry. Stuart thanks for joining us. Looking in the Positive Side of things, we like that. See you soon. Lets get to obamacare, yes, its in a death swirl, insurances pulling out of exchange. Betsy mccoy is with us this morning. Look, this thing is dead. Absolutely, theyll be very few healthy buy nester the fall market. Stuart look, its dying as of now this thing is collapsing and dying, the republicans have to replace it. If they dont replace it, they get the blame for whats going on. Absolutely. Thats why senator mcconnell, majority leader in the senate, must revise his schedule, he said he was going to take months and let his members write a bill from scratch. He does not have that luxury. They must make adjustments in the bill passed by the house and apply it this winter so that the states can revive an individual Insurance Market in time for people to buy coverage otherwise you will have millions and millions of middleclass people who dont get coverage on the job uninsured because they have nothing to buy. Stuart there are some republicans who say let it collapse, obama and democrats will get the blame. The guy sitting in the top will get the blame and thats President Trump. Insurance experts said, even before it was passed, it will collapse because of the pricing mechanism which was so contrary to common sense, everybody said that the healthy would pull out and the Insurance Companies would follow them out of the exit door but nevertheless President Trump is at risk for getting the blame. Stuart you have seen the bill coming out of the house, if thats the version of obamacare, will it fly . I think it should. Im astounded to hear 24 Million People will lose coverage. Thats a complete lie. No one on medicaid will be ripped away from anyone. Slows future enrollment, thats for starters. The infant with the oxygen mask struggling for life, babies who are born with Heart Defects and other problems will be given the full range of care just as theyve always been before obamacare, during obamacare and under the house bill and people with preexisting conditions will be fully protected with 138 billiondollar fund dedicated to protecting people with preexisting conditions. Stuart all right, betsy, pounding the table as usual. You have to get it done or youll take the blame, betsy mccaughey. The white house has a short list of names to replace james comey. Ashley they do. Theres about 11 names on the list. We picked up five of the most recognizable beginning with ray kelly, hes on the list, trey gowdy, john cornyn and on the list Andrew Mccabe because hes the acting fbi director. 11 names on the list but those are the five that stick out that we know. Stuart that we know. Ive got a story about california, governor jerry brown is pulling funding from the university of california, an audit reveal that had the school has been secretly stashing money. Give me the full story. Liz 175 million in secret reserves, this was found by a state audit. So jerry brown is saying, wait a second. We, my office is going to withhold 50 million of that, Janet Napolitano and uc california until you get together with finances. The secret reserve was set up and they were raising tuition and asking the state of california for more money so they found that 32 million of that secret stash could have gone toing tuition. So now this is a fight between Top Democrats in the state of california, jerry brown, quote, said i want to hold their feet to the fire. Stuart check the big board, we are down 13 points, coming back a little bit there. We are at 20,900, back to that mark. Nasdaq very close to another alltime high. Thats the nasdaq, home of the many, many Technology Companies, up 3 points now. 6,119, who would have thought . S p 500 again near an alltime high, down a little this morning but 2,391 on the s p. Again, who would have thought six months ago . Today pope francis travels to fatima, portugal to commemorate 100th anniversary to one of the mostwell known miracles, a vision of the virgin mary, pope francis plans to observe anniversary for canonizing the two young. They stayed there during the first world tour in 1964, it is up for rent and you will not believe how much theyre charging, i was astonished by this, not for how much but how little it is. Im giving it away. Its a tease. I cant give it away. Something completely different. That man coming down the hall, there he is. Bob wright, media legend. You will get his take on the Mainstream Medias content for the president , here he comes. This could be good. Nicole im Nicole Petallides with your fox business brief. Dow jones industrial average down 18 points, s p 500 down fractionally and we also see that the nasdaq, though, has an up arrow, the stocks are mixed for the week. The nasdaq is the winner for the week. Apple hit an alltime high today. Mcdonalds also working closely with franchisees ready to fork over some doug to revamp franchisees and make it better for the company. Gold is up nearly 5, you could see the gold miners. New gold to the upside and watching also spotify, spotify saying that they are going to have direct listing with nyse, eliminate ban of brokers to underwrite and start at 5 00 a. M. , i will see you there. Stuart you know ive been on the rant all morning long about the medias coverage of President Trump, i think its just full of venom, hatred and content and i dont like it, our next guest is a media mogul, bob wright. I have an idea for you to try to reestablish and help the president out. I think we should defer tax cuts, defer tax cuts and instead institute at least two more congressional investigations into russia. [laughter] stuart you practiced. Thats good. Appoint a special prosecutor who will examine in washington anybody thats met or talked to a russian [laughter] stuart this is really classic stuff. You knew it was coming. That would make it seven special prosecutors. Stuart you have the answer for the establishment media which is full of content. I think thats a disgrace and your answer is . Its just unfortunate but doesnt seem to be hurting. I saw wilbur ross this morning, this trade agreement with china, thats usually a fouryear discussion. To get Something Like that moving, the things that are happening, you know, hitting that surplus, billions and billions of dollars. Stuart more deflection. Am i right, am i right that the establishment media is going after the president in very personal terms, in extreme terms and i dont think thats very healthy and i dont think the media is doing its job. Well, theres very little you can do about it except ignore it or work through it. His level of accomplishment is what sets him aside right now and its very unfortunate. I agree with you. And its everywhere. Stuart its not bad, its not bad. [laughter] stuart i want to talk to you about pancreatic cancer, a cause that youre closely associated with. I want you to tell us if theres any progress in the fight against pancreatic cancer . Yes, we have made progress. People that have been involved in the medical industry for many years, ive had discussions with our newly appointed health and Human Services price. Im scheduled to meet with the Vice President the following week on 24 to talk about we have come up with an idea, its being supported at the health and Human Services to create an advance Research Project agency. This is something that exists in the department of defense its called dapra and the department of defense 3 billiondollar a year and its where they its where they take so seriously the development of new technologies and actually has its where the first Weather Satellite came out of darpra. Stuart you want to apply their expertise to pancreatic cancer . Its selfsufficient very well funded attack on a particular scientific issue and its president bush, created in 1958 for the department of defense and in 2007, president bush did it for energy and it operates independently. They have deadlines on things that have to get done very fast and get accomplishments, they are contracts and not grants, you can be fired or pushed off if you dont make your numbers. Stuart you suggested this . The response is positive about lets see how we put this together. Ive got some foundations interested in doing it and we create it. Its sort of inside the health and Human Services but it is autonomous and it has it has shortterms on it. Its not tenyear projects and have to turn this over in a couple of three years and you bring in the very best, its large scale, 2030 milliondollar operation and its quite frankly i wish that the nci had been doing that but they havent. This is the finest use of money that they could possibly put into pancreatic, thats what we are working on. Stuart youre a good man. This is a good cause and we all know it and i hope youre successful. Thank you very much for being on the shown deflecting my criticism of your former industry. I promise you thats unfortunate. [laughter] stuart bob wright, youre all right. We will see you soon. I just want to say one last thing that i know you talk a lot about health care, one thing that i wanted to say, we have 291 million americans that are on single payer right now, you have 55 million on medicare and 77 million on medicaid and 159 million on employer based and those are single payer because none of those people have the right stuart the difference between single payer that youre talking about as in britain or canada i am. Im just saying that we already we already are in this game up to our neck and we have 20 Million People that are on the exchange and if fox stopped offering medical here, then liz would be on the exchange. Stuart very good. And you and i would not. We would be on medicare. [laughter] stuart i have extra 90 seconds. [laughter] stuart i say it again, youre all right. Thank you very much. Stuart london apartment where George Harrison once lived can be yours. Whats the rent . Ashley 1400 pounds a week which by Todays Exchange rate about 1,800 a week, 7200 a month stuart thats a bargain, a threebedroom apartment. If you had that same apartment in Upper East Side of new york thats 25,000 a month. Ashley probably. Stuart i do not get that. Thats out of whack. Thats just me. Back to positive signs on the economy. Housing market, millennials buying homes instead of renting, theres a switch. We are talking about a whole new generation of homeowners, thats very good news. More varney after this. Stuart now hear this, a generation of renters is becoming a generation of home buyers, Tracy Carrasco has the story which fascinating me, go. According to some data from the Census Bureau they are saying that 854,000 new owner households in the first three months of the year, thats more than doubled, 365,000 new renter households. Stuart whoa. Look at that. Ive got it on the screen. First quarter of this year. 854,000 firsttime newly formed high schools new homeowners. Stuart 365 were renters. Builders are making it more appealing for millennials to buying homes. They are designing homes with millennials in mind, they have the features they are looking for, if a new home wants to rent out another room, theyve got separate bedrooms, bathrooms to help supplement the stuart i thought the last few years it was renting, renting made sense apparently but now its not . No, millennials are making more money, so they want to invest. Home is a good place to invest. Stuart ladies and gentlemen, i bring you good news. Thats a positive. Liz yeah. Ashley about time. Stuart stop living in your mom and dads basement and buy a house. Are you a millennial . Im at the cusp, tailend of the millennials. Stuart go buy a house, thanks, tracee. In honor of mothers day coming up on sunday, we thought we should show you a picture of Production Team moms and grand moms, we will scroll through them. Take a look. R. Would be great. Being proactive. Its how edward jones makes sense of investing. Welcome to holiday inn thank you wait, i have something for you making every stay a special stay. Holiday inn, smiles ahead. Whether for big meetings or little getaways, member always save more at holidayinn. Com. Stuart it is mothers day on sunday. May the 14th. I thought we would close out the show with a mom story of my own. Now my mom lived to be 9years of age. She was born in 1907 in england of course. One day, 10 or 12 years ago, i asked her what is your earliest memory . She came back very quickly and said, the sinking of the titanic. What . The sinking of the titanic . She said yes. I was about four years, eight or nine months old, when it happened. She remembers looking out of the window and seeing news boys, extra, extra, read all about it. The news boy was mobbed by people. Women were wearing long dresses. They all wanted a copy of the newspaper about the sinking of the titanic. Liz what a memory. Stuart huge news in britain at the time. Of course. Stuart that is my moms earlier memory. Liz nothing about the birth of you . Stuart that was misdemeanorrable but ashley didnt forget that. Stuart didnt bring it up very often. Fortunately out of time. Ashley, liz. Neil, it is yours. Wait for it. Neil so your mom lived to 98 . Stuart almost 98. Neil and youre in your 60s . Stuart me . Neil you. Stuart 69 in couple months. We have at least another 30 years. [laughter]. Just doing the math in my head. Lucky you, neil. Neil all right. Happy mothers day. It is a beautiful story. Were all looking at this. Footnote on mothers day versus fathers day. We spend five times more on our moms than we do our dads. The theory goes Something Like this, most believe dads get off easily and mhers do all the