Transcripts For FBC Varney Company 20170810

Intensifies, the u. S. Confirms a plan of attack using b1 bombers, north korea has detailed a plan to lob missiles within guam. A load of nonsense say the North Koreans. At this point its a war of words, nobody backing down. Time is running out for divided Republican Party to get anything done and who knows what happens with north korea. This is prime time for vacations and they just teed off to start the pga championship. That guy Jordan Spieth, if he wins, he joins exclusive golfers who won all four majors. Stay right there, Varney Company is about to begin. Stuart did i say the market is a little edgy . I think i can say that seriously. We are going to be down 60odd points when the markets open this morning. All the leading indicators are down. Problems with the republicans, the president and north koreament down we go at the korea, down at the opening bell. Lets get to north korea. I want to bring in former cia Operations Officer brian dean, welcome to the program. Maybe im naive but i cant see the North Koreans firing any missiles at guam . Not a chance, they know if they do, they are gone, the whole country. Stuart thats what general jack keane told us this morning, fourstar retired general. You show them that you can take them and you convince them that youll do it if provoked. Thats where we are, i think. Thats absolutely we are, i think. The next challenge for President Trump what are the next cards to be played. He has four, arguably five, working with tillerson and working with beijing and the next step is targeted strikes, taking out a very select number of Ballistic Missile production facilities, nuclear facilities, maying roads, railroads going into china, disrupt the trade. Stuart that would be a preemptive strike, us firing the first shot. Do you think we dwowld that we would do that . We would do that without provocation. They dont fire the first shot, we do. Do you think we would absolutely do that in something the question is considering. The next step that you look at is decapitation. Taking out kim jong un. Thats working with the chinese because they will have the deal with the repercussions of this, not necessarily the United States. You take out president kim, you will have to work with chinese on who comes next. Stuart this is a frightening prospect youre laying out. Preemptive parton the part of the United States, possibly followed by the decapitation of regime in north korea. Is that the kind of talk that goes on inside the cia . Well stuart if youre allow today tell me. You have to look at the possibilities. We have done sanctions which have gone nowhere. Nuclear has added more Nuclear Missiles or baa list tick capability gone further within reach and more Nuclear Weapons than ever had before so something has to change and thats what President Trump understands, he has clearly no more business as usual. China, help us, if youre not willing to help us, we will help things on your own and much more risky. Stuart youre comfortable with President Trumps stance at this point . I am. Hes doing exactly what he needs to do along with secretary mattis. Youre jeopardizing regime and your people, we will two to war if we have to. Stuart you mentioned secretary of state tillerson, he has gone to guam, right, does he then go to beijing. Im not aware of the travel plans . No, what is happening backchannel conversations and beijing and pyongyang. Stuart brian, thank you very much for joining us. You know what youre talking about. Thanks, brian, appreciate it. We have news on macys, does it mean that retailers hit bottom and obvious question first goes to liz. Liz its not over. Moodies 19 retailers on watch list because they are in the brink of insolvency or distressed balance sheets, nieman marcus, j. Crew, sears is a basket case. 89,000 people retail workers lost their jobs. More than the coal industry. Washington, d. C. Always talks about coal and manufacturing jobs being lost, whats going on is decimating rural areas and flood of people coming out of there to cities, this is a policy issue. Ashley i agree with liz, all theyve done the macys numbers and kohls numbers theyre slowing the bleeding, retail landscape has been forever changed by the ecommerce world and amazon in particular. They are trying to respond but they are only doing it through cutting costs and cutting stores, be honest, their foot track is down 2 when they expected to be down 3 . Is that an improvement . Not really. Stuart i agree with you, ashley. I dont think its its over, we are in early stages. President trump hitting Senate Majority leader mcconnell with another tweet first thing this morning. Can you believe that Mitch Mcconnell who has screamed repeal and replace for seven years couldnt get it done, must repeal and replace obamacare. Joining us now larry oconnor, contributing editor, welcome back, larry. A long time since we saw you. I know, i thought you wanted to talk about the first preseason game in the redskins, nothing going on in washed. Stuart President Trump and leaders of the Republican Senate and we cant afford the split if we want to get something done on tax reform. As much as i agree with the president on him, a totally boneheaded blunder that the president has unreasonable expectations, the fact that you like tax cut and i know, stuart, so do i, i want the funding for the border wall, i want to infrastructure spending, as soon as i see how its layed out, all of that goes through Mitch Mcconnell. Stuart there are reports, i think this is in politico which suggest that the white house is quietly courting moderate democrats, come on over for a chat, i think they are saying to moderate democrats. That worries me because if the democrats get involved in tax reform, i dont think we are going to cut taxes. It depends on which democrats. Listen, there are some democrats who are living and representing counties and states that went for President Trump and theyre up for reelection, in fact, there are certain senators like joe manchi, in that need to show that they are not a nancy pelosi, chuck schumer, Hillary Clinton democrat. Its possible that they could meet the president on certain issues specifically a tax cut which everyone agrees. I really think everyone agrees would be a huge boost to the economy. Stuart Corporate Tax rate cut, i can see some democrats but only with strings, we will cut your Corporate Tax rate, you bring money back from overseas but you cant spend it on more dividends, you cant do stock buybacks, no, you must create jobs, theyll cut taxes with strings, thats my opinion. I agree with you, stuart, isnt it interested that at the same time slamming in effective majority leader Mitch Mcconnell hes reaching out to democrats. Mitch, if you cant get it done, if you cant get own republicans in line to vote as something as simple as repeal of obamacare that you repealed for seven years, maybe i will take the bull by the horns. I agree with you, its not ideal, this is what the president ran on. If mcconnell cant get things done, if ryan cant get things done, hell get things done than republicans have in the past. Stuart thats where we are, its come to this. The only we can get tax cuts is to appeal to democrats who never cut a tax in their life . I would like to think not, stuart. Wouldnt it be nice to see republicans actually moving forward with tax reform. For god sake its august and they are on recess and havent done anything with tax cuts. Why wasnt the first thing out of the gate when they started congress in january . Stuart we have been asking for seven months, larry. Welcome back. Go redskins. Stuart whatever. [laughter] stuart look at. This down a bit more. Minus 69 for the dow industrials when we opened up in 19 and a half minutes. Now look at this, the new york yankees showing off new uniform, no pinstripes, players names will be written on the back but fans stop it, liz, its not that bad. Fans of the original jerseys do not despair, the pinstripes will not be gone forever. Ashley im a traditionalist, i dont like change. Stuart me too. More than 60 women may file a lawsuit against google claiming gender discrimination and sexism, dare i say we called this one on the show yesterday. Lizzie is silent. Liz i have a lot to say about that. Stuart another lawsuit, conservative group suing the city of seattle over plans to tax the rich. The Freedom Foundation, the group thats suing claiming that tax is illegal and, quote, assault on the rule of law. Who should we turn to to ask questions about that . Judge napolitano, of course, hes coming up next. Stay right there. [laughter] allergy pills. Flonase sensimist allergy relief uses unique Mistpro Technology and helps block 6 key inflammatory substances with a gentle mist. Most allergy pills only block one. And 6 is greater than one. Rethink your allergy relief. Flonase sensimist. Stuart blue apron lost money and look at the stock premarket. It went public not so long ago, i cant remember the stock price. Look at it go down now. Five dollars a share. Ashley was it 10. Liz they were thinking 17 and went to 10. Ashley thats right. Stuart how about disney . Big drop yesterday, this morning premarket stabilizing at 102. Snap, premarket this morning, not looking good, but down just a fraction but down nearly 1 , remember that. 60 women, more than 60 women considering a lawsuit against google. They claim sexism and a pay gap. All rise, judge napolitano is here. We talked about this yesterday. Yes, we did. Stuart sill von valley will be taken on in Class Action Lawsuit claiming gender discrimination . Seemed to have been triggered by email that the engineer sent to ten people, two of them sent it to 40,000 people and ended up with dispute. We all know what sexism is and the law doesnt define it and the law doesnt condemn it. The law is a lot more precise, if you pay male and female different salaries for substantially the same work, you may be in violation of a california state law, simple as that. Stuart oranges and oranges. Substantially similar. Thats rather easy to prove statistically. What may happen, here, there will be a huge settlement, a huge to plaintiffs lawyers and divided amongst peanuts per person. Thats the way the class actions happened. I dont know how this one is going to happen. I dont know who is going to be involved. Years before its resolved but thats the standard pattern for these things. They prove a social political philosophical legal point. They rarely compensate the truly injured. Im happy to tell you this that my prior life dismissed many of these because they were a gimmick for lawyers to earn money or prove point and the courtroom is not a place to do it. I would prefer that the individuals who are the victims sue so that if and when they win, they are compensated and they are compensated the compensation they deserve not divided nonsense after the lawyers get their fees. On that we generally agree. Youre in california, the most proplaintiff state of the union, state of the union that the legal machinery is virtually controlled by the plaintiffs trial bar. Stuart thank you for that, judge. Its not good news. It would never happened on the other side of the pond. Stuart actually it would. A lawsuit seattle tax the rich measure violates the states constitution, what say you . You know the story. Tax the rich. The state of washington is the rare state of the union that does not have income tax, Legislature Passed one and the court invalidated it. How happy and an event. Ashley amen. [laughter] i hear your voice saying, i love it, i love it. Theres a clause in the Washington State constitution staying all people must be taxed the same. So you cannot have a progressive tax rate in that state. Stuart but you could have a flat tax . Yes, you could. But thats not what this is. This taxes certainly people and certain amendments based upon what they earn. So i think it will be invalidated. Liz Washington State tax, steve forbes would love that, most progressive liberal area of the country. You know how rare it is for the courts to invalidate a tax . Its a happy time. Stuart Washington State, uber liberal does not have a state income tax. Do you believe that. Ashley i did not know that. Stuart come and join the modern world, guys. Youre suggesting that they do have a state income tax . Ashley no. I bet you will buy seattle real estate this afternoon. Stuart working on developing of a fleet selfdriving delivery trucks. I dont know when we are going to see them on the road. Watch out. Elon musk has cashed in on billions of dollars in government subsidies, one of our guest took mr. Musk to task yesterday. Come on in next larry, commodity trader and a tesla owner. Hes onto defend elon musk and the tesla cars for which he spent so much got you outnumbered. The dinosaurs extinction. Dont listen to them. Not appropriate. Now im mashing these potatoes with my stick of butter. Why dont you sit over here. Find your awesome with the Xfinity Stream app. Included with xfinity tv. More to stream to every screen. 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 782 on home and auto insurance. Call for a free quote today. Liberty stands with you™ Liberty Mutual insurance. Stuart lets talk tesla. Yesterday one of our guests from the tax Taxpayers Alliance unloaded on elon musk. Watch this. I think some people are wising up to it that hes just kind of sucking off the government. Listen, this guy created paypal, he was responsible for paypal which was a great privatesector, freemarket sort of thing. Something happened after he sold it. He went to us, the taxpayers to finance every one of his Business Venture, theres not a Business Venture that he has done that has not received a taxpayer subsidy. Tesla, solar city, spacex all getting money to the tune of millions of dollars. Stuart sucking off the government. Larry, has two teslas and big fan of the company, are you going to defend elon musk on the attack of larry . A lot of your viewers are entrepreneurs, people who have started companies, run successfully companies, theres nothing wrong with using other peoples government and if the government allows that to happen and if they dont close hoop legals, whats wrong with elon mufng doing musk doing that. Disney did that and its really the same thing. Thats what entrepreneurs do, they try not to use their own money. Elon musk has plenty of money. Hes trying to better the world and a lot of people dont realize that. Stuart i never think of you as a green visionary but i will take you on the basis. You really do love your two tesla cars, tell us. They really are amazing vehicles, the most fun cars i have ever driven, theyre so much better than any car ive had and the fastest cars as you and i discussed a couple of years ago, my car does 0 to 60 and its electric, i wake up the next day and its all charged up. If if you have elon musk way, you have solar roof and you get it from the sun, you feed your car every day and no cost of energy, thats what hes trying to accomplish. Stuart larry, we understand and we would like to hear from you, come with us in the opening in four and a half minutes. We are going to see the market go down. 60odd points in the opening bell. I think the market is edgy about north korea and the republican divide on tax cuts. Rewould be back copd makes it hard to breathe. So to breathe better, i go with anoro. Go your own way copd tries to say, go this way. I say, ill go my own way with anoro. Go your own way oncedaily anoro contains two medicines called bronchodilators, that Work Together to significantly improve lung function all day and all night. Anoro is not for asthma. It contains a type of medicine that increases risk of death in people with asthma. The risk is unknown in copd. Anoro wont replace rescue inhalers for sudden symptoms and should not be used more than once a day. Tell your doctor if you have a heart condition, high blood pressure, glaucoma, prostate, bladder, or urinary problems. These may worsen with anoro. Call your doctor if you have worsened breathing, chest pain, mouth or tongue swelling, problems urinating, vision changes, or eye pain while taking anoro. Ask your doctor about anoro. Go your own way get your first prescription free at anoro. Com. Stuart 15 seconds to the opening bell. I think this market looks a little shaky, if you look at futures right as we start the trading session, youll see that we are going to be down, what, 60 points maybe as the bell rings. It is now ringing, trading has begun and we are down 60, there you go. 63 points lower, 64, that puts us below 22,000 and i see an awful lot of red on lefthand side of the screen as all the dow 30 stocks open up, in fact, the vast majority of dow stocks are down and dow industrials themselves down total of 76 points as we speak. All i see is exxon and chevron, only two dow winners, they are, of course, Oil Companies and by the way, the price of oil hit 50 bucks a barrel early this morning. The dow is down a third of a percent. S p 500 down. 4 , how about the nasdaq . I think theres an even bigger loss there, down. 6 . We are down across the board. Virtually all sectors of this market are down in the early going and dow down nearly a 100 points, got it. Macys liz pretty decent. They hung in there. Stuart kohls is down, at issue here is the retail ice age, we will get into that. Disney, well, they took a hit yesterday, they announced they would end deal with netflix, they will get into the streaming business, down yesterday, down a fraction this morning. Netflix down yesterday on the streaming news from disney, down again this morning, a buck 43 lower. 174 per share. Here is a big mover, blue apron, they went public a coupling of months ago around 10. Now they are at 5, opening 16 lower this morning. Alltime low on blue apron. Here we go. A minute into and a half into the session, here is who is going to cover the action for us, liz, ashley, scott martin, i say the markets are edgy because of north korea and whats going on in dc, what say you . I think edgy is the word, stuart, i have to tell you, this could be a tough double punch kind for the markets here because you have no noko acting up and something thats going to protend more dangerous in the pacific and you have the malaise in dc that frankly by the day is getting less and less possible. The market is starting to take notice. Now, there are things you can do as investor. We talk about the tech stocks and how we like them all of the time on the show, dont hesitate to add on the gold as the kids say as a side piece to portfolio, gold and things like that will do well when theres geopolitical texass. Stuart best winners among s p 500, are largely Energy Companies on the lefthand side of the screen and we do see gold at twomonth high. Larry, whats your explanation for todays pullback for stocks across the board . There is some risks, right, north korea is in front of us and thats unknown situation and i think if hopefully that clears up and goes away, then theres some risks but theres been a good buying opportunity. If it doesnt go away, soon, theyll be more risks. I like what scott said, i think gold is a Good Opportunity right now to get into hedge yourself a little bit or if you have equity positions make sure you have stocks that are relatively close. You have to be ready for it. Liz august and september, historically slippery ride for investors. Markets usually have a seesaw action. Goldman sachs saying the selloff was muted in the asian markets despite the rising tensions and muted pretty much here. Stuart three minutes in, four minutes in, down 72. Got it, look at facebook. Its got a new home for original programming. It is called watch. All right, larry, seems to me that facebook looking to the future wants to compete with ewe to be, have i got that right . Absolutely. Facebook is in perfect position to become a content provider, they have the eyeballs, they can make it exclusive just to viewers, so, yeah, they really can do whatever they want. We saw about the virtual reality, their own content, really whatever they want, they have the power. Stuart youre big into virtual reality, what happened to that . Ive heard nothing since christmas when it was supposed to be the big new thing . I still play with it all of the time. I enjoy it. Virtual reality, the coolest thing in the world, stuart, its the way all pilots will be trained in four or five years, thats really a neat thing. Ashley you want larry on your plane if something goes wrong. [laughter] stuart what was that take the head set off. [laughter] stuart larry comes to the rescue. Now much more serious subject and thats the retail ice age, we have macys profits and kohls profits reported earlier this morning, decent as you characterized, liz, decent. Macys made 116 million profit and its down, the stock price is down and kohls is down as well. How about dillards, they really lost big money and thats down big, another Department Store chain, down 13 as we see. Now, scott, come back in again, please. Is the retail ice age, has it hit bottom, do you think . It doesnt look like from the stock prices . No, its interesting, you see the numbers. The dillards one was kind of funny, they were expecting to make money and they lost because of inventory and people with respect filling the stores and buying stuff. I will channel my inner jeff, i do miss you, jeff, theres going to be a time, hes always talking about buying retail, theres going to be a point that things have so bad thats good, thats probably a couple more quarters where everybody is throwing out stocks and expectations out of the window and thats when you step in and find value here. Stuart left hand side of the screen, all of them showing red arrows top to bottom including walmart. Check the big board. Low of the morning so far. We are now down 87 points, that puts us at 21,960. By the way, nordstrom, they released profits after the bell today, baring in mind whats happened to the other retailers, they are down before they report their numbers. Nordstrom back to 45. Higher profit, better sales ammunition maker visa vista, distinctive red patch, all the rage, the company says many retailers are specifically asking them to accelerate shipments so they can get their product on the floor earlier. That works for the stock price, its up 4 . How about snap . Now they report their numbers, again, after the bell today as you walk up to that report, the stock is up 2 . 13 bucks a share on snap. How about this one . Oprah and kraft heinz teaming up on a new food line, tell me more. Liz thats good. You know, wow, oprah is so smart. Here is what shes doing. You know what, you like mash potatoes. Im going to show you how to make it not fattening, mix it with [laughter] liz yes, i can. Five dollars per soup or 4. 50 for a side. I think oprah dominates and she knows what women want and this is a baby boomers want to eat nutritious. Stuart i thought we were going to all fresh all of the time . Liz we did that with chipotle and look what happened. Stuart more serious subject now, more than 60 women are considering a suit against google. They claim sexism and a pay gap. Okay, supposing this becomes a bigtime class action suit and all of Silicon Valley Technology Companies are involved, do you think scott martin, do you think it gets big enough, serious enough, pressing enough to hurt the stock price of the big Technology Companies out of Silicon Valley . I dont think so, stuart, because the degree that this affects business model, its probably slim, this does paint a little bit of a dark color on Silicon Valley, doesnt it . That was the paradise versus wall street area which was the bad run in 2008 and all the hiring things that were going on back then. Now its like Silicon Valley is being drawn into this. Is this a google problem, facebook, other things going on at some of the other tech companies, how this plays out in the other parts of the space will be interesting, but it doesnt make my particularly worried about the stocks just yet. Stuart lizzie, they are not worried, if it becomes a Class Action Lawsuit, it looks like its going to go forward, that would be my impression. My read of that as well. The ceo of youtube, shes a women, shes out with her own column and opinions about it saying, the whole thing about biological differences between men and women, what if you swapped out those words and put in words white and black or white and hispanic, so shes saying even if theres selfselection with women, it is prohibited, shes saying in silicon dealing with the all male club there. Stuart suit goes forward by the looks of it. All right, thank you very much, indeed. Larry and scott, thank you for being on the show, great performance specially the tesla guy. I want to go from 0 to 50 in seconds, load of the day. Yes, it is, 92 points down, 21,956. How about this . Nearly 150,000 people sign a petition, they want former nfl quarterback Colin Kaepernick signed to a team but no team wants him, why . Again, its because of the baggage over the National Anthem and protest thereon. We are on that story. We are about to show you a graphic, what if i told you this, apple has a lot more cash on hand than jpmorgan. 261billion for apple, 21 billion for jpmorgan, i pose the question, is apple an undervalued bank . Stuart almost the low of the day. Actually it is the low of the day. We are down over 105 points now. 21,943. And then theres tesla reportedly developing a selfdrive all electric truck. Whoa. When can we expect to see this, nicole . Nicole here is the thing. We heard from elon musk, he tweeted in april that there would be a truck and that would be in september it would be revealed. He reiterated that in Shareholder Meeting in june but he didnt say whether or not that would be autonomous, meaning selfdriving and the question is whether or not the trucks that we are expecting to see in september, is that the one that we are reading about . Do you know that tesla has been working between the department of Motor Vehicle between nevada and california, because they want to get long haul semitrucks on the road, wait for it, not one at a time, several trucks in a row thanked would eliminate need for drivers in every truck and they want to test this out so they have been working closely with the department of Motor Vehicle so they can cross state lines and have zero drivers and the ones that are in the truck can actually rest while the trucks are doing the long haul on the interstate. A glimpse into our future. Stuart wow. Its got a convoy, one truck after another, convoy. Theres a song about that some. Where nicole, we will be back to you shortly. Thank you very much, indeed. I want to talk apple specifically the huge mountain of cash which they have, 261 billion. Come on in, our goto guy on all things banking dick, we brought you in, dick, because any company with a mountain of cash, 261 billion strong should surely qualify as a bank, is apple an undervalued bank . Well, i wish i could tell you anything about apple but i dont. If the company has 261 billion in cash what i would be asking what type of return are they getting on that cash because we have been doing a lot of studies lately of what banks are paying corporations for their money and looks like they are paying somewhere between 10 basis points and 45 basis points when they take that money in from those corporations, they are turning around and lending it at 116 basis points and that gap is phenomenal, so at some point these corporations are going to say, hey, im not getting enough money from you from what im giving you and therefore you bertin creas what youre paying me and when that happens its going to hit Bank Earnings really hard. Stuart well, if and when apple, for example, ever bring money back to the United States, they will do that if its a much lower tax rate on the mountain of cash. If there is a lower tax rate on that mountain of cash, do you think apple would bring that money back . Oh, yeah, i think they would. I still believe this economy is the best in the world and its one of the best places to invest, you know, money when you have excess funds as apple does and therefore, i think, it makes a great deal of sense for them to bring it back. Stuart all right, lets talk banks and financial companies. I own a limited number of shares of the xlf im sorry, etf known as xlf, as you know its a basket of financial stocks. I make some money on it, now you know whats going on in the Banking Industry and the banking world, should i sell some of my xlf now, take the money off the table and leave some in the market to play . Yes. I think that weve gone through one of the most fascinating summers, if you will, in Bank Analysis that you can imagine. Essentially, in the beginning of the summer or in the spring when we said to start backing away from these stocks, you had five Bank Conferences in which hundreds of banks said things are great and you had all the banks passing stress test and you had increase in dividends and stock buybacks and then you had the market going up and then you had every punneddant getting on tv indicating that they want to buy financial stocks, they want to buy stocks, guess what happens, xlf today is selling tinny hair below than it was selling march first of this year when we talked about backing away from this industry. You have to ask yourself, whats going on. Everything that could go positive for this entry has gone positive all through this summer from the standpoint of the pundits, everybody thinks the stocks should be bought and the stocks are not going up. You then have to get back to the basics, why are they not attractive stocks . Theyre not attractive because they are not selling anything. In other words, they have to sell loans and they have to sell loans at very high margins to show their earnings going up. Theyre not selling loans, they are not getting the high margins and theyre at huge risk because the average big bank in this country is paying 10 or 11 basis points as i just mentioned from money and they are turning around and theyre selling it at 116 basis points and someone is going to wake up and say, hey, this is crazy, these banks are not paying enough for the money that we are giving them. I say get away from the xlf. Stuart okay, i have been warmed. See you again soon. Check the markets. Look at the dow 30. That puts the dow below 22,000. Now this, the new york yankees updating their uniforms, ditching the pinstripes and putting players names on the back of the jersey, dont worry. Im told its not permanent, a hundred years of tradition safe for now, the pinstripes are coming back, we understand. More on that in a moment. Inflammatory substances with a gentle mist. Most allergy pills only block one. And 6 is greater than one. Flonase sensimist. Stuart 21st century fox is the participant of this parent of this network and the stock is up 2. 7 , 28 on 21st century fox. Now this, thousands of football fans nationwide threatening to boycott the nfl this season if Colin Kaepernick doesnt sign with a team. Jared max fox news radio with us now. Jared my heart bleeds for them, stuart. Stuart nobody wants them. Jared its a business. Stuart he has too much baggage. Jared he has a lot team players and owners and coaches would have to answer to and, again, they are running a business. On football alone, he believes he belongs in the nfl right now. 16 touchdowns. Stuart on his ability. Jared reportedly he told representatives, i dont want to sign League Minimum of 900,000, no back up money. Imagine this a guy who is fighting about oppression of the United States, i dont want a oneyear 900,000dollar contract. The rally protest rally to clog streets of manhattan during rush hour, they spelled his name wrong, kape instead of kaep. Stuart nothing comes of this petition. Kaepernick will not be signed by any team. Is that the bottom line . Jared i think so. I dont think he wants to play in the nfl. You look at the things he has said about the nfl, his girlfriend recently sent out a tweet that compared the Baltimore Ravens owner to slave owner. Does he want to be part of this . Stuart pushing himself away. Iar jar michael vic said you should cut your hair and respond today michael vic, youre a victim of stockholm syndrome that you fallen to your abusers and so does he really want to play in the nfl, i dont think so. Stuart new uniforms, whats behind the story . Jared there wont be pinstripes but the yankees are one of 30 Major League Team and every team for player weekend, august 25th to 27th, goofy names, judge, all rise. He can pick whatever he wants. Stuart all teams on one weekend and then they go back after that to pinstripes and Everything Else . Jared back to pinstripes and all. Right now theres complaint because mlb hasnt issued merchandise for women. Thatll be in time for the weekend. Stuart dont be such a stranger. Jared any time, stuart. Stuart a feelgood story, it is. Former Michigan State player, wide receiver, standing toddes miami Miami Dolphins Training Camp, red, ready to work and will work for free. Tomorrow find out his story and if he got a job because he is on this program. Thats tomorrow. Serious note, secretary of Defense James Mattis warns north korea, any action that could lead to the end of it, north korea regime. White house Sebastian Gorka up t today, were out here with some big news about type 2 diabetes. You have type 2 diabetes, right . Yes. So let me ask you this. How does diabetes affect your heart . It doesnt, does it . Actually, it does. Type 2 diabetes can make you twice as likely to die from a cardiovascular event, like a heart attack or stroke. And with heart disease, your risk is even higher. You didnt know that. No. Yeah. But, wait, theres good news for adults who have type 2 diabetes and heart disease. Jardiance is the only type 2 diabetes pill with a lifesaving cardiovascular benefit. Genital yeast infections, increased bad cholesterol, and urinary tract infections, which may be serious. Taking jardiance with a sulfonylurea or insulin may cause low blood sugar. Tell your doctor about all the medicines you take and if you have any medical conditions. So now that you know all that, what do you think . That its time to think about jardiance. Ask your doctor about jardiance. And get to the heart of what matters. Is everything ok . Adt, i could hear crackling in the walls, and my mind went totally blank. All i remember saying was, my boyfriends beating me and she took it from there. When a fire is going on, youre running around, youre not thinking clearly, so they called the Fire Department for us. And all of this occurred in four minutes or less. Within five minutes. I am absolutely grateful we all made it out safely. Its kind of one of those things you cant even. You cant even thank somebody. People you dont know actually care about you. To protect what you love, call 1800adtcares stuart have there ever been a time when the two parties has divided as they are now . Has there ever been a time when this country needs unity as it needs it now . Start with the the democrats. Senators feinstein and schumer sharply criticized the president over the language he used on north korea. Think about this. A rogue foreign power armed with a nuke and a missile Delivery System directly threatens to attack america and the left objects to the president s tone. Ben rhodes, the architect of president obamas appeasement policy calls mr. Trump a liar. You would think we would come together at a time like this but no. Internally senators Bernie Sanders and Elizabeth Warren divided democrats over a abortion, socialized medicine and the endless tax the rich idea. That is a pretty big division. As for the republicans where do you start . The Senate Republican leader openly criticizes the republican president. Republican john mccain returns to d. C. Just in time to sink the Republican Health care plan. And if you think there is agreement among republicans on tax reform, dream on. Is there an adult somewhere in congress on either side of the aisle who will stand up and say enough . Obamacare is collapsing. Millions are hurting, fixing it. We need economic growth. Get tax cuts done. A lunatic with a nuke is threating an attack. Unite against him the second hour of Varney Company is about to begin. Stuart attention homebuyers, we got the latest read on mortgage rates. Liz florida, down a little from 3. 93. Still bargain mortgage interest rates. Stuart i laugh because every week we give the number. It is below 4 and ashley and i remember paying double digits way back when. Ashley four times that. Stuart what did you pay . Ashley 19 in 1982. Stuart i paid 12 1 2 in 1977. Liz ever thursday is the is the sad trombone moment. Wrong music. Stuart you dont know how good you got it. Moving on. This is the low of the day. Two minutes past 10. In business for 32 minutes. Were down 113 points. 21,900 is where we are. The price of gold moving up a little bit more. This is a twomonth high. 1292 per ounce. How about the retailers . Retail ice age still with us, dillards, kohls, jcpenney. Look at dillard, down another 15 . Blue apron, they are down 15 , 5 a share for blue apron. I cant remember the ipo price. Liz 10. Stuart 10. Just couple months ago. Caterpillar, former senator kelly ayote will join the board of directors. No impact on the stock. It is at 113. Lets get to north korea. Listen to what general Thomas Mcinerney said about the standoff on this program yesterday. Roll tape. Right now, stuart, he ought to be preparing for war for the next six months to a year. He has that much time. We can take out that artillery today with conventional weapons. I liken to a thousand crews missiles in the air at one time. Over 200 stealth aircraft attacking. We can do that. We have that capability. We need six months to a year to do it. That is how much time we have but we must be prepared to do this. Stuart well, that was strong stuff, the words prepare for war, very prominent in that interview. Joining us now, Sebastian Gorka, Deputy Assistant to President Trump. Sir, your response to what we heard from general mcinerney . Mcinerney is a great american, a patriot. We thank him for his service. This Administration Made very clear its message to north korea. They have painted themselves into a corner. They have no friend left, stuart. Think about what happened on the weekend. Unanimous 150 vote on u. N. Security council. Even china, russia, said enough is enough. No more nuclear blackmail, this president , President Trump will take whatever measures necessary to protect this great nation and its citizens. Stuart retired fourstar general, general jack keane told us earlier this morning we should, america should show them, show them you can take them, then convince them you will actually do it. Is that where we stand . We dont give our gameplan away. That is what the last administration did. Not a good idea playing poker to show your hand. It is a very bad when youre doing geostrategy with pariah stalinist state like north korea. Secretary mattis was very clear, anybody who goes up against the United States of america, anyone will lose. That definitely includes north korea. Stuart but we are showing them, arent we . We have deemployed b1 bombers over the korean peninsula. That is demonstration what we can do. We are in fact showing them, is that correct, sir . Were taking certain necessary steps but it doesnt matter what those steps are. You just open a book on our capabilities, you look at the forces available to us, conventional, strategic, overt, covert, and it is just not a good idea to against the most powerful nation the world has ever seen. We are not a superpower, stuart, we are a hyperpower. North korea has the ball in their court. As Rex Tillerson said they can deescalate any moment by sending a clear message, no more Nuclear Testing, more Ballistic Missiles. That is what were waiting to see. Stuart what do you make of two leading democrats criticizing the language President Trump used . Senator feinstein calls it bombastic. Senator schumer calls it reckless rhetoric. Your reaction to that sir. Im sad aned that they want to make political hay. This is the democrat party, bill clinton, obama, got us to where we are today, world on fire, bad guys facilitated, whether north korea, whether iran with a disasterous jcpoa deal, whether isis rising out of the ashes of the arab spring. The democrats are in large part responsible with their policies for the catastrophic situations we see around the world today and also lets not forget, the bottom line here. This is about america. Not about the democrat party. If you cant stand with your president whether he is a democrat or republican you should look yourself in the mirror and ask you self are you allowing Party Politics and partisan interests to trump the National Security of all americans. Stuart yesterday we reported on the attack in france of a driver who plowed into, i believe it was six he french soldiers as they walked out of their bar racks. I have not heard anymore about it in the establishment media in the United States. Virtually nothing. Why . What the press covers and what they dont cover as my friend chris plante often said, one of the most insidious powers the Mainstream Media has is to choose what they do not cover, whether hillary scandals, whether john podesta scandals, the consequences of the Foreign Policy of obama, rhodes, and carl, that is what we you should be talking about. When were talking about terrorism there is agenda in some cases to sweep things under the rug, not talk about the truth, have some idealogical spin for very sears are events. Hopefully sooner or later these media organs will understand that the American People know the truth and arent interested in fake news anymore. Stuart Sebastian Gorka, always strong stuff. Thanks for joining us, sir, we appreciate it. My pleasure, stuart. God bless. Stuart yes, sir. The theme on this program is the retail ice age. Today four big retailers are selling off even more. Look at that. Dillards, kohls, macy, jcpenney, all of them down big time. Jack hough with us, Senior Editor at barrons. I thought maybe the retail ice age was winding down. Maybe the Department Stores and retailers hit some kind of bottom. Doesnts look like it now, does it . You listed four names there. What if two were gone tomorrow. There would be loss of jobs. But for the american shopper do we need as many chains we have today, does that mean we need as many stores today. That is the issue. Were over stocked as more shopping is going on line. I talked with chiefs of most of the chains, everyone told me we omni channel strategy. Internet is a great thing for us. Well do it better than amazon. Were turning our stores into warehouses. It is just not working so far. Stuart a real change in consumer america, is it . I dont think we got to grips with the impact of this. Weve seen ghost malls, that kind of thing. The way youre talking this gets worse. There are some stores that can continue to do well but the key is, of course it is about amazon, right. We have to mention them. You have to sell something that amazon doesnt which is why the chains that have the best chance stuart not easy to do. Chains have best chance trying to get into private label merchandise, if you want to call apple a retailer, it sells its own goods. You cant replicate that somewhere else. You have a sports chain there struggling, theyre benefiting because some of their competitors are going bust. Theyre using window of opportunity, lets do private label yoga pants, private label this or that. Lets see if this will work long term. Stuart i doesnt fool like driving to the mall, parking, standing in line to give them my money, struggling, to get to the car, walking out. I dont feel like that. My computer, amazon tomorrow. Thank you very much. Ashley stu in his bunny slippers ordering stuff. Stuart watch it. Facebook, jack i want to talk to you about this. First the details. Facebook is launching a video tab. It is called watch. What is that about, ash . Ashley it is interesting. Opens to select people, who were picked im not sure. It will go National Later this year. It will promise a wide range of shows, reality shows, comedy, to sporting events. They say it will be professionally produced. Theyre bankrolling a lot of money for this. One of the bigged a advantages, people can watch episodes, really for Binge Watching too. They can talk to other people on facebook as the episode is playing, creating new communities of people for individual shows. Stuart sound to me, jack hough, that on your screen is competitor to youtube . Definitely. Youtube owns internet video. It is a lucrative business. Facebook wants in. They will be able to do it. There is duopoly for money moving online, for advertising. Alphabet and facebook own it. I think this will be successful. Alphabet talks about explosive growth in youtube. Not people using the phone. On television. Apps, settop boxes. Our cover story on barons is about sports rights and tv. Tv owns them for several years in most cases. Watch for bigname sports to start being bought by amazon, facebook and alphabet in the future. That is a big problem for network television. Stuart sports drifts away from television, goes online . I think well come to a day soon you will watch the super bowl on facebook. Stuart fascinating. Liz facebook saying people can chat with each other about the same program theyre watching. Speak to the binge watchers out there. Stuart okay. Jack hough, thank you very much. President trumps childhood home is on airbnb. It is tudorstyle home. Being offered for 725 a night. Has five bedrooms, but pets and smoking, cant do it. Nonos. Next the president calls out Senate Majority leader Mitch Mcconnell once again, rao peel and replace obamacare, he says. You had seven years. Whose side are you on . Were asking the question. It is officially a fight for dean hellers senate seat in nevada. Businessman Dan Tarkanian challenging him. He joins us later this hour. Youre watching the second hour of Varney Company. Honey, remember to slaughter the tomatoes with the nun. screaming remember to water the tomatoes when youre done. [announcer] sometimes, hearing isnt easy. Lick a carp. Lookin sharp. [announcer] but now, theres a simple way to enhance it because now theres eargo plus. The virtually invisible hearing aid with amazing sound quality. Designed with patented flexi fibers, so theyre suspended completely inside the ear canal. And so small, that theyre virtually invisible. Just pop them in and tap each ear to find the right setting for you. A single nighttime charge will last you an entire day. Sauerkraut the slum lord. Watch out for the skateboard. [announcer] dont wait, call or go online now for a free sample pair to experience the incredible comfort and invisibility of eargo plus for yourself. Stuart this is the he low of the day and it keeps on going down. Were off 140 points now. That is a selloff. Look at that, we have 26 of 30 dow stocks in the red. We have only a couple of them in the green. Canada goose going the other way. No, canada goose is down. This is surprising. Canada goose, their management put out a conference call, hey, you retailers, well speed up delivery because you want us to get our jackets on your floor space earlier. I would have thought that was a good sign but the stock is down 2 1 2 . How about live nation, higher profits, better sales, up 10 , theyre the withins making money out of music today. How about the price of oil, 50 bucks a barrel, are we there yet . We hit it earlier. 50 bucks a barrel, why Oil Companies and Energy Stocks are up today, the only successful performers thus far today. Oprah partnering with kraftheinz on a new line of soups and side dishes. Emac. Liz just in time for the holidays, healthy comfort food from oprah in aisle four. What is happening oprah is opening up a new line of food line of soups, four soups, four sides. Here is the kicker, she is showing people how to eat comfort food nutritious. Mashed potatoes mixed with cauliflower. Parmesan, soups with white beans ashley is all over this one. Ashley im on it. Liz two years ago when oprah out a stake in Weight Watchers 43 million, now more than 290 million. She he knows what she is doing. She is speaking to the nutritious crowd. Stuart will her name added to craft heinz enhance kraftheinz sales and stock price . That is the he question. Ashley she has the midas touch. Stuart look at that, Weight Watchers way up during the period oprah had a big stake in the company. Liz thats correct. Stuart President Trump continues to criticize Senate Majority leader Mitch Mcconnell. We first heard about the phone call where the president ripped him apparently, ripped him bigtime we hear, comes this tweet this morning. Quote can you believe Mitch Mcconnell who screamed repeal and replace for seven years couldnt get it done. Must repeal and replace obamacare. Kristin tate from the hill, on our program today. Whose side are you on, mcconnell, youre a libertarian. I ask this question because you are a libertarian. Thats true. Stuart free markets, individual freedom. Are you on the side of the president or mcconnell . Im on the side of the president and i think most people are. Trump is the only one you out there actually fighting for what the American People want which is repeal and replacement of obamacare and that is exactly what these pinheads in congress ran on. So apparently Republican Voters had excessive expectations when they voted in people like mcconnell who promised to do this and then didnt. It is totally disappointing. I think congress has gotten nothing done. Stuart whether youre libertarian or not, i think that is the way most people are looking at the Republican Party at this point, you failed. We want to know why you failed. Yeah. Stuart let me move on to senator john mccain. He is critical of President Trumps language which the president used, fire and fury, in the north korea crisis. I dont think we have the sound bite but he said, i dont approve of this. We dont want this. This is not a good thing. Whose side are you on here, mccain or the president . Once again im on trumps side. Mccain seems to suggest that previous president s never made threats that they couldnt follow through on. That is exactly what happened with obama and his red line. Trumps comments were not making a red line. Trump made it very clear when it comes to north korea all options are on the table that includes military action. Everything about trump makes these predictable politicians like john mccain really nervous but you know what, stuart . I say good. Time we give President Trump a chance because previous president s like bill clinton have only enriched north korea. Bill clinton gave billions of dollars to north korea in exchange for a promise that they bo stop building Nuclear Weapons. I mean what a fool. The only thing that thugs like kim jongun understand is strength. We need to lead with strength and i think that is what trumps rhetoric is doing. It is projecting power. Neil you are raising the rhetorical level there. Are you not . We caught the personalized comments. Thanks for joining us. Big day today. Thanks for being with us. Thank you, stuart. Stuart you remember the infamous white bronco, the slow chase from o. J. . It will go up for sale. His former agent mike gilbert will appear on pawn stars on monday. The asking price, half a million dollars. The agent bought it after the car chase in 1994. Remember it well. Snapchat reporting today after the bell. It has been a dog of a stock ever since it ipod. Here is the question, will it ever, ever, reach facebooklike status . Well take you there. Rethink whats possible. Rethink your allergy pills. Flonase sensimist allergy relief helps block 6 key inflammatory substances with a gentle mist. Most allergy pills only block one. And 6 is greater than one. Flonase sensimist. Track your pack. Set a curfew, or two. Make dinnertime device free. [ music stops ] [ music plays again ] a smarter way to wifi is awesome. Introducing xfinity xfi. Amazing speed, coverage and control. Change the way you wifi. Xfinity. The future of awesome. Stuart uhoh, look at snap. Continues to trade near its lows. I dont know what relation to the ipo price. Half the ipo price. Certainly way, way down. Ashley yeah. Stuart jack hough, 1was ipo price. Snap was credit at one time a rival of facebook, will it ever get there . Just because it is down doesnt mean it is cheap. This is facebook road kill. The reason all money flowing on to facebook and google, if youre an advertiser, you can make your own audience. Google knows videos and searches. E facebook knows personal details of your life. Snap doesnt that big audience. Were in the golden age of twitter. It is not very good for twitter. I think both companies are heading same direction long term. Stuart ouch. Thank you, jacques hough, barrons guy. Coming up, Trump Administration considering sending 5500 private security contractors, basically private soldiers to afghanistan. Were on that story. Democrats becoming the Opposition Party, not even uniting behind the president against north korea. A democrat will respond. He is next. Hey, im the internet i know a bunch of people who would love that. The internet loves what youre doing. So build a better website in under an hour with. Gocentral from godaddy. The internet is waiting. Start for free today at godaddy. Stuart penny lane, knew it well. Listened to it when i was in east africa young man, mid 1960s. Stock alert. Here we go. Not quite the low of the day but pretty close. 21,929. More importantly the retail, look at those declines for the big names dillards down 14 . 8 down kohls. Macys down 7 . On top much the retail ice age, the results thereof weve already seen, down again for retailers today. The white house reportedly considering a plan to privatize the war in afghanistan, or at least much of it. There is a proposal, 5500 private contractors, private soldiers basically, would advise afghan combat forces. And a 90plane private air force would provide air support. Joining us now, captain roger hill, former u. S. Army captain knows a thing or two about this. Are you a lot of people say look, theyre mercenaries. You will flood afghanistan to do the job of regular army. Are you in favor . About i can even get to a discussion about whether im in favor of sending private contractors or more u. S. Troops i cant get past the number were discussing. 5500 is a drop in the bucket. I almost would say it is laughable because, it barely recovers the amount that weve withdrawn over last couple years. Stuart that would be an initial down payment so to speak of 5500. I mean there is always opportunity possibility of more to come, but what do you say in principle of withdrawing regular troops and putting in place, people who are called mercenaries . Are they officially called mercenaries . Stuart not officially. Private contractors, whatever you want to call them, are you in favor of using them . Yeah, im not opposed to the idea right now, and i think most of the folks you would see sign up, most of the folks that serve in those types of companies are former veterans. Theyre patriotic americans. They understand the evil that were faced with in afghanistan and much of the middle east. They want to see the evil stamped out. I couldnt think of better group of people. Stuart active servicemembers right now might consider doing Something Like this when the term of regular service with the army is over . Are you asking would they consider it . Stuart yes. Of course they would. That is the stuart that is talked about in the military . Well i dont know that it is talked about in the military. Guys over there are pretty busy fighting. Once theyre out of the military theyre looking for employment. I think this would be a viable option. But again before we can get to that, we need to be in a tough discussion about how many folks we send over. Our own doctrine speaks to the need of a 20 to one ratio. 20 peacekeeping forces to one person of population in the host nation country. For afghanistan, alone, according to our own counterinsure again he sy doctrine, that would require half a million boots on the ground. We need to talk first things first before we talk about whether were going to send private contractors to do the job or more soldiers or more marines. Stuart let me close it with this, do you want do people in the military want a large presence in afghanistan for the foreseeable future or is there some sentiment, cut your losses and leave . Which is it. I have to preface that what i just said. If were willing to go in with the right number of troops and resource, coop in mind the troops that do fighting should not be same troops you send in to do rebuilding. Those are two forces. You may end up doubling or tripling number on order of million to 1. 5 million boots on the ground. Combination of troops doing fighting and people doing reconstruction and nationbuilding, if were unwilling if the country does not have the national will to provide those level of resources we need to pull out. Stuart thank you, captain. We appreciate it. Good stuff. Yes, thank you. Stuart at the top of the hour i said the democrats are a party divided. Karl rove writing in the wall street journal agrees, he says this, democrats failed to flip a single republican congressional seat in this years special elections. If democrats were wise, they would stop obsessing about the president and focus on what their party must do to appeal to middle america. That is karl rove. Doug schoen, fox news contributor, and former clinton pollster. Still a democrat. Yes, sir. Stuart let me first of all ask you about senator schumer, and senator feinstein, who did not like the language President Trump has been using about north korea, fire and fury. Sure. Stuart do you think maybe Senate Democrats should cool it in terms of criticizing the president at this particular moment . Here is what i would say. When were facing an external, potentially existential threat from a nation like north korea, we need to stand together and whatever problems one might have democrat or republican with what the president said, best to support our nation, support our president and leave the politics aside. Stuart so youre essentially saying, pipe down a little . It would be right thing, not only pipe down but pull together. Stuart pull together, with republicans with the president . Yes. Stuart to face a unified response. Of course. Stuart got it, moderate democrats, i think there are 20, they have been ensited to the white house, lets Exchange Ideas on tax reform. Correct. Stuart what tax cut would any democrat in the senate actually agree to without strings . Sure. A middle class tax cut for the few moderate democrats that are left that think like me. I think most democrats in that position would be thrilled with that. Now you need a broader package. You also need Corporate Tax reduction. Stuart what is a middle class tax cut . What is it . Reducing rate, pure and simple. Stuart but not the top rate . Im for that. I dont think the party would be but im for it, yeah. Stuart no democrat apart from yourself john f. Kennedy. Stuart okay. In 86 we went from 50 odd percent to 28 . So it can be done, stuart. Stuart yes, but i dont know of a single democrat in the senate or the house who at this moment would be prepared to lower top rate of tax on individuals. They should, stuart. Stuart but they dont. They dont. Thats right. Stuart so inviting the democrats over for a chat on tax cuts, that doesnt provide us with tax cuts. No. But provides a basis to discuss a way to go forward. Which this president needs to do. And i think you would agree, i hope you would, to not talk to the Opposition Party when you have narrow majorities in the senate, a bigger majority in the house, but not a dispositive one, is a good thing to do. It is sound politics and policy. Stuart i see as failure of the Republican Party. Disagree on that one. Stuart this is failure of the Republican Party. They cant get together and organize a tax cut. So the president has to appeal to democrats who hate him that maybe they will contribute some numbers in the senate. So maybe we could get a tiny little tax cut somewhere. I think youre being a little too pessimistic. On policy grounds i think much of what the president has done has broader appeal. I think you just dont write off a group because quote, they hate him. I think what you do compromise. Ronald reagan and tip oneill compromised quite well. We got the civil rights legislation through because of compromise. We would be better as a country and bet policy would be more cooperation. Stuart you realized what happened. You are a democrat calling me a pessimist. Im saying that youre an expansive man with a big heart. I would like to see that in politics. Stuart expensive or expansive, thats right. Stuart ill take that. Now this, nearly 150,000 people have signed a petition calling for nfl boycott of Colin Kaepernick. Wait a minute, they will boycott the nfl if kaepernick isnt signed to a team. What is this . Ashley that is exactly accurate. 130,000 if not more. They want to get to a million signatures. Basically if he he doesnt get signed, they will boycott the nfl, not go to games if person, not watch on tv, not buy any merchandise. On top of that they will start badgering sponsors of nfl, gatorade, nike, a whole long list. This comment came from people that organized it. Colin kaepernick is first athlete in our generation to risk his multimilliondollar career and stand up for the injust is to people of color and police brutality. Stuart doug schoen, whos side are you on, fans or nfl. I think im on the sign of the fans. If were not going to signed him because he didnt stand up. These are Football Players. Get politics out of it. Lets concentrate on the game. Stuart youre talking to kaepernick, arent you, bet politics out. Kaepernick would be best to say for himself and league, stop this. I am a quarter book who has prove ren can deliver at highest levels. I want to do that. Cut the politics. Stuart doug, sometimes you get it right. Thank you very much. Youre welcome. Thank you. Stuart check please, the five Huge Tech Companies which we check all the time. Look at them. All of them down. Liz all of them down but Goldman Sachs is out with a new report. Watch this, stuart. Tech stocks are considered a safe haven defensive play in market downturns sort of like theyre saying utilities or consumer staples. They have never been this tightly correlated with those safe haven plays at any point in the last 15 years. Goldman sachs says traders are looking at the tech stocks in a whole brand new way, trading them like safe haven defensive plays because they seem to continue to go up even when there are shocks in the market. Ashley put your money in gold or facebook. Stuart what a switch. Ashley yes. Stuart these were the gogo growth companies. Now theyre a defensive play. Liz safe haven play. Stuart okay, thats interesting. Now this. I poses the question at the top of the hour, has there ever been a time when both parties have been as divided as they are now . Next, one Senate Candidate whose challenging the republican establishment. He says, we can never make America Great again unless we support and unite around President Trump. Well be back. Ashley with huge cash pile of 261 billion is apple an undervalued bank . Last hour we asked Raferty Capital Markets dick bove what he thinks. Roll tape. If the company has 261 billion in cash what i would be asking is what type of return are they getting on that cash. Weve been doing a lot of studies lately what banks are paying corporations for their money. Looks like theyre paying somewhere between 10 basis points and 45 basis points, when they take that money in from those corporations, theyre turning around an lending it at 116 basis point. And that gap is phenomenal. So at some point these corporations are going to say, hey, im not getting enough money from you from what im giving you. Therefore you better increase what youre paying me. When that happens, it is going to hit Bank Earnings very hard. Stuart Parent Company of chiles is brinker international. The stock is up. I will call that dead flat again. The point is brinker is the Parent Company of chiles. I bet you didnt know that. Treasury yield down to 2. 21 . That is a sixweek he low. This is dangerous time in the world. A lot of hot money goes to safety. Nothing safe with the u. S. Treasury bond. As the money goes in, the price goes up and yield, 2. 21 . That is what is happening. That is a safe haven play. Chipotle lowest stock price in four years. Business insider are closing that location in dallas where mice were seen. Down 2 at the moment, down seven bucks. Our next guest announced he is challenging senator dean hello are in nevada as republican primary next year. Danny tarkanian joins us now. Is this all about dean hellers vote not to reform an repeal obamacare, keep obamacare in place . Is that why youre challenging . That is not it. That is part of it but not it at all. I think we have Incredible Opportunity here in america because we have a president willing to make great change in our congress. We have a Republican Controlled Congress and gnat, were not getting it passed, senators in office dont support the president and dont support american first agenda. Dean hello are was first never trump per and opposing the President Trumps agenda. Stuart as dean heller first surfaced who would not vote immediately repeal obamacare. The world came down and he was threatened with being primaried. That is what you are doing. Is it going to happen with other senators who dont go along with Obamacare Repeal . Youre only missing the point. If you focus on Obamacare Repeal that is issue relevant or important to voters in jon. Dean heller broken promise to people of nevada on numerous occasions. He campaigned on being strict against illegal immigration. He is one of the senators that led the charge to give citizenship to illegal immigrants. He warranted to defund planned parenthood. He got caught on tape saying he would protect the funding planned parenthood. You have his promise to repeal obamacare, his vote against it when President Trump would sign it. This is history of this. This is what made people sick and tired of politicians. Theyre sick and tired of politicians who say one thing when they campaign and do the exact opposite when they are elected. Stuart is there any objective poll released thus far to show whether or not dean heller is popular and you are polar . Any such poll at this time . Numerous polls show dean heller upsidedown with the Approval Rating with republican primary voters. There was done released monday, eight point below, more disapproval than approval. Had me in headtohead matchup with dean heller i was down four point within the margin of error. We havent even got started. He is 30year establishment politician. Neil what do you make of Mitch Mcconnell, the president has called him, berated him, because mcconnell criticized the him on obamacare. We have a tweet directed at Mitch Mcconnell. Whose side are you on on this one . As President Trump says we should repeal obama care and Mitch Mcconnell says he has too high of expectations. Why would that be too High Expectations when two years ago most of the same gop senators voted to repeal isnt why would it think too High Expectations to vote on it now that you have a senate to sign it . Of course the support the president s position. Stuart danny tar takennian, i know your name from the basketball world do i . Why he you do. My wife has been a political commentator on your show many times that is true. She is better than i am on tv. Stuart danny, thank you very much. We know you got up real early there in nevada. Thank you for having me on. Stuart how about this . Singlepayer, governmentrun health care, socialized medicine. Do you want that . I believe were getting closer to it. Back in a moment. Potsch you each drive a ford pickup, right . in unison russ, leland, gary yes. Gary i have a ford f150. Michael ive always been a ford guy. Potsch then i have a real treat for you today. Michael awesome. Potsch im going to show you a next generation pickup. Michael lets do this. Potsch this new truck now has a cornerstep built right into the bumper. Gary super cool. Potsch the bed is made of highstrength steel, which is less susceptible to punctures than aluminum. Jim aluminum is great for a lot of things, but maybe not the bed of a truck. Potsch and best of all, this new truck is actually gary all laughing oh my. Potsch the current chevy silverado. Gary im speechless. Gary this puts my ford truck to shame. James ill tell you, i might be a chevy guy now. laughing ch baby crying eat fly me to the moon and let me play jet engine white noise airline ding bell mnemonic itwhats possible. Nk rethink the experience. Rethink your allergy pills. Flonase sensimist allergy relief uses unique Mistpro Technology and helps block 6 key inflammatory substances with a gentle mist. Most allergy pills only block one. And 6 is greater than one. Rethink your allergy relief. Flonase sensimist. So it only made sense to create a network that keeps up. Introducing Xfinity Mobile. It combines americas largest, most reliable 4g lte with the most wifi hotspots nationwide. Saving you money wherever you check your phone. Yeah, even there. See how much you can save when you choose by the gig or unlimited. Call, or go to xfinitymobile. Com. Xfinity mobile. Its a new kind of network designed to save you money. 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 782 on home and auto insurance. Call for a free quote today. Liberty stands with you™ Liberty Mutual insurance. Our new president has not been in this line of work before and i think had excessive expectations about how quickly things happen. Stuart that was senator Mitch Mcconnell, excessive expectations. That was a critique of President Trump clearly. And a lot of viewers not happy about that critique of President Trump from mr. Mcconnell. Here is this from james. Mcconnell and ryan have both shown they cant lead. They should step down from their offices. Rosalind says, i have been saying miserable mitch for years. I have never heard anything positive from him. Strong stuff from our viewers. They really dont like Mitch Mcconnell. Do you think he should step down. Ashley well, based on what weve seen so far, yes. President trump had a great tweet in response to what Mitch Mcconnell said, basically youve had all of the years of the Obama Administration with six months into my administration, youve done nothing. I think what it shows is, he is tone deaf, Mitch Mcconnell, to why President Trump got elected in the first place. He sounds like the king of the swamp. Stuart okay. Liz i love that, ashley. I dont think he should step down. I think senator mcconnell is blunt and pragmatic and common sense. I dont think what he was saying is so blithering. He is laying it out. This is the way gears slowly work in the d. C. Swamp. He needed to add this message though. If you want to silence Bernie Sanders and socialists and likes of Elizabeth Warren you need policies that encourage growth in order to pay for the welfare state everybody else want. Stuart if you cant get republicans in the senate to vote for a growth plan, what do you do if youre leader of Republican Senate. Liz we dont have a senator sam rayburn or tip oneill leadership with vision to grab the president s agenda. The president doesnt help with his rebukes and constant insults. Stuart true. How is Mitch Mcconnell supposed to deal with the three republican senators who voted, keep obamacare in place . Ashley right. Stuart mccain comes back from his serious medical problems, just to keep obamacare in place. How is mcconnell supposed to deal with that . Liz i agree. Bailing out Insurance Industries for obamacare is totally wrong. They should give tax credits to people. If you have 50 billion lay around money, give tax credits instead of bailing out insurers. I hear you. Stuart you think he should go . Ashley he has failed. Stuart split decision. All right, everybody. Split decision it is. But we will all be back. Stuart the white house has issued an invitation to moderate democrats, come on over, have a chat, lets talk about tax reform. Time to get worried, you bet. Republicans are so divided and incompetent that donald trump might need some democrat votes to get anything done. What will democrats go for . A cut in Corporate Tax rates, yes, but there would be Strings Attached like corporations only get a tax cut if they spend the extra money the way the left once it spent, couldnt go to shareholders, no extra dividends or stock buybacks. Some growth plan. The left thinks it is their money. Tax cuts for individuals, not if they are in the top 1 of income earners, Many Democrats want a tax increase for them. Some growth plan. Reform Social Security, yes, by raising Social Security taxes on more of your income. Some growth plan. Reform obamacare but keep obamacare taxes on the rich, etc. Etc. This is what happens when the party that was elected to cut taxes fails, or looks like it is failing. Democrats are not in favor of cutting taxes period. This is not John Kennedys Democratic Party. They are being invited to chat because republicans cant get it done. This is not a good sign. If you want growth, get nervous. The third hour of varney and company is about to begin. Stuart i know the voice. Bruno mars. I dont know the tune of the song, but a great voice. Did i say that . I am not going to speak french but i will check the big board. Look at this. A lot of red as you can see and the dow is down 116, slightly improved from a half an hour ago when it was about 130 but we are down triple digits. Come in, scott shellady, joining us as usual from london. Why are investors on edge. What is the key factor you can point to why this market is down . We dont have investors on edge but dont have traders on edge very much, that flows into where indices are trading because as far as percentages we are not down that much, markets are allowed to go lower. If we are trading up, a 10 move is 2000 points that we have to keep things in perspective. Investors are concerned because we have had other conflict before, iraq being one of them but this has the Nuclear Component and that is why everyone is on edge and an easy but what traders are thinking is it is a dark way to think about how they think. They if you want to make a bet that the world is going to blow up, if you win that bet, what do you win . There is always going to be the trader mentality that wants to pick up a cheap price is because they think ultimately things will pass when they blow over and away we go. Those are the two mindsets. Stuart a traders market. How about the white house talking or wanting to talk to moderate democrats about tax reform . If they got something going it will be a watereddown tax reform package, would that help the economy . Not as much if we would do it the way we wanted to do it in the first place. I heard you speaking about whether Mitch Mcconnell should go or not. If he was a middle manager i would fire him. This isnt bad listening to democrats or inviting them in, this is admitting abject failure. If you have to do that with what we send to congress with majority we have and the president that weve got, the idea that you have to invite in democrats for help, where is the embarrassment start . Went we look at ourselves in the mirror, are you kidding me . 7 years to do something and havent been able to get the ball over the touchline once . I wonder at what point in time people get embarrassed about the people they sent to washington. Stuart we are not there yet but with this kind of pressure you have to ask surely, surely you are going to get something, everyone is saying what you are saying, this is an embarrassment. That pushes them to the point something is done. Exactly. This makes everybody so frustrated. You have been asking for something for 7 years and we have given you more than you have asked for and said get it done and in the first 6 months you fall all over your self. Clearly you didnt have a plan, didnt have an idea and didnt have any mental resources to get this ball over the line so it is embarrassing and Going Forward there has to be somebody that will lead us through this. The fact that we are inviting democrats in is abject failure. There can be no other way to spin that. Stuart great way to start the 11 00 hour. That was good stuff, scott shellady, thank you as ever. Lets move on to north korea, strong words from Deputy Assistant Sebastian Gorka on this program in the last hour, roll tape. We are not a superpower, we are a hyperpower, north korea, they can deescalate at any moment by sending a clear message, no more Nuclear Testing or Ballistic Missiles. That is what we are waiting to see. Stuart chairman of the American Defense international, welcome back to the program. That is strong talk from the president s man. What do you say . We are seeing American Leadership in north korea for the first time. The fact is this president s predecessors, clinton, bush and obama failed the American People in north korea. They kept kicking that can down the road. We are at the end of that road. They left this president with no good options but for the first time in years we are seeing an american president exert American Leadership and that is why we saw the chinese do what they did at the un security council, they realized this president is different, he means business and when this administration has a policy that we will not allow a Nuclear Armed north korea capable of striking the United States to exist, that is our policy, this president means business. Stuart earlier this morning retired four star general jack keane suggested the policy is and should be show them, the North Koreans, that you can take them and convince them that you are serious and you will do it. That seems to be an accurate statement of where we are. I am a big fan of general keane. A couple days ago, kim jong un said he wants to attack guam. Look what he said today, the north korean media is reported today his military is drawing up plans not for an icbm but an intermediate range missile not to hit guam but to come within 25 miles. What is telling is yesterday the Mainstream Media interview a retired air force Nuclear Watch officer, who supported Hillary Clinton for president. They asked what do you think of this president and were surprised by the answer. He said this president is getting into the helmets of the North Koreans and putting the fear of god in the mend that is a good thing. Stuart do you think of the North Koreans launch another rocket, another missile, we should shoot it down . We will shoot it down . Would we do that . Japan has said, japan has that Ballistic Missile defense capabilities it came from the United States, they stated today they can and will take down anything that kim jong un fires at guam. This president has several more cards to play but we are in the 59th minute of the 11th hour and the clock is ticking. Stuart thanks for being here. See you again soon. Check price of oil, earlier today we move above 50 nro, we are up, we are at 49 a barrel and that is why you see Energy Stocks and the only big winners today. Price of gasoline keeps going up. We are at 2. 36 a gallon, that is the National Average for regular. Individual stocks making news and real big movers. The retail ice age has struck again. Dillards, kohls, macys, jcpenney down in significant percentage terms. Nordstrom dont record their financial picture until after the closing bell today but as you walk up towards that report they are down 1. 5 . Higher profit and better sales of the ammunitionmaker up 5. 7 , nice gain. Snap report their numbers after the bell, snap is down again, 1. 3 drop, back to 13. Chapala, lowest stock price in four years. Business insider said they closed the store in dallas where mice were seen. 8 down on chipotle. Forecasters say Hurricane Season may be worse than expected raising the expected number of named storms. Right now looking at Hurricane Franklin on mexicos central gulf coast, it has been downgraded. And esteem with us later to give us a full report on what to expect this Hurricane Season. A federal judge is ordering the state department to try again to find emails that Hillary Clinton wrote about the benghazi attack. Judge Andrew Napolitano coming up soon. In washington is getting tense, 10 minute private phone call between the president and Senate Leader mcconnell, the issue, mcconnells criticism of the president at successive expectations for health care reform. The president is more not happy. More varney after this. Im living that yacht life, life, life top speed fifty knots life on the caribbean seas its a champagne and models potpourri on my yacht made of cuban mahogany, gany, gany, gany watch this dont get mad bell mnemonic get e trade and get invested Stuart Donald trump slamming Mitch Mcconnell in another tweet this morning. Can you believe that Mitch Mcconnell who has screamed repeal and replace for 7 years couldnt get it done . Must repeal and replace obamacare. Former restaurant ceo andy pu n pudzn pudzner, should he resign . I hate to get in between them but this is like a Football Game where the quarterback if you lose the game doesnt matter if it was because you didnt have support from your defensive line or your receiver. All they look back at is whether you were correct or lost. Mitch mcconnell did not succeed. The senate had a great bill, it was poorly explained to the public that it was a good bill, paul ryan got a single a bill through the house, the president was ready to sign it, we didnt get it through the senate so for whatever reason if you are the leader you get credit when you succeed and the blame when you dont succeed. They didnt succeed. Stuart the fact is we dont have healthcare repeal and reform and dont have a tax plan. Has it reached the point where the Republican Party understands that you really cannot do this . Do they understand . Enormous pressure, everyone said you cant do this, you got to do something, do they understand yet . They are still on vacation. What has happened in the senate has been deplorable and there are certain republican senators the dont seem to understand politics is a team sport. Look at the democrats, the independents who vote with democrats like Bernie Sanders or joe lieberman, even independents support the democratic positions better than some republicans are reporting republican positions, some republicans i dont know if they claim they are republicans to get elected or what they did, john mccain engaged in what i call a revenge vote for something donald trump said. There are bad things going on in the senate with some republicans, we have 44 republicans, strong supporters of this repeal and replace bill, other senators needed to get on board and they didnt and it is embarrassing. Stuart if you put aside the swamp and put aside the north korea action, look at the economy, i think there is some good news, 6. 2 million jobs, ready to be taken, that is a record high, that is a very optimistic report on the state of the economy. Is there still optimism within the economic community. How many records have we set in the stock exchange, people that are investing look to where they think things are going to go. They dont invest on today, they think the future is very bright. 6. 2 million job openings was the record since the bureau of labor statistics started compiling that data, we have unemployment and the number of people unemployed is under 7 million. It hasnt been under 7 million since may 2007 which is before the recession in december. Real improvements, fulltime jobs created since the beginning of the year, more people are working, working better jobs. The outlook is optimistic and there was a report by one of the associations, that said optimism, had a 16 year high. Things are looking very good. Stuart we believe that for another day. See you again soon. A federal judge ordering the state department try again to find Hillary Clintons lost benghazi emails. Donald trumps childhood home could be yours for a night, it is listed on air b b. It costs more than a room at trump hotel in washington. 5numfour, bottom of the sixth, that rally came on the field, started running through captured by a ground staff, the cat bit him as you can see, carried him away off the field, the next pitch, you will see it. The cardinals hit a grand slam. You get it all on varney and company except the grand slam. Is this a phone . Or a little internet machine . [ phone ringing ] hi mom. It makes you wonder. Shouldnt we get our phones and internet from the same company . Thats why Xfinity Mobile comes with your internet. You get up to 5 lines of talk and text at no extra cost. [ laughing ] so all you pay for is data. See how much you can save. Choose by the gig or unlimited. Call or go to xfinitymobile. Com introducing Xfinity Mobile. A new kind of network designed to save you money. 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 782 on home and auto insurance. Call for a free quote today. Liberty stands with you™. Liberty mutual insurance. Stuart this isnt just any suv but the suv. That is a clip from porn starss forthcoming addition, the ford bronco, remember the chase oj did towards the border will be featured on mondays episode, he reportedly wants nothing, one of his former agents once half 1 million for it. Look at this. A military plane crashed during world war zero back found intact in a river in the pacific, the plane is a longrange japanese spy plane, tourists found it. The childhood home lifting on air b b, 725, tudor style house built by the president s father in 1940, in queens, new york, sold in march for 2. 1 million, the owner did some redecorating, putting a lifesized cardboard cutout of the president in the living room. Scientists discovered a new dinosaur called the titanohsaurus, 46 feet tall, weighed 76 tons. That is as much as the space shuttle. It wasnt as intimidating as it sounds. They moved very slowly because of its size. It will weigh you down. A conservative group suing the city of seattle to raise taxes on the rich. The Freedom Foundation claiming the tax is illegal and, quote, on assault on the rule of law. Action on hillarys lost benghazi emails. A federal judge says find them. We are on it. Stuart led zeppelin, cashmere. Stuart the man from uncle. Check the big board. You see a loss of 105 points. This is not the low of the day. We were down 140. We are at 21941 is our next guest has a new article, has a new article every thursday in the wall street journal. Dan hettinger says liberalism summer of 17, liberals whine about being governed by trump, you are referring to the islands of liberalism known as big american cities, is that what youre talking about . They are running these at least since the 1950s, places like new york, chicago, los angeles, San Francisco, hartford, connecticut, which is on the brink of insolvency. We are going through a period whereas we say, the summer of hell, around the metropolitan region and the infrastructure built when peoples grandparents were alive is falling apart, chicago had 100 people shot over fourth of july, baltimore has had 200 murders, the liberal compact, the idea that urban liberals run cities, you pay us with taxes and we will provide you with service, infrastructure, civil order and economic opportunity, and liberalism, they are not holding up their end of the bargain. You detail how people are leaving these in droves. That is one of the most interesting things happening in recent years. There is black migration out of new york, out of illinois, out of california and where are they going . They are going south to states like georgia, north carolina, florida and texas in search of economic opportunity, the great migration out of the south in the 1940 numplaps50s is being reversed as they recognize they dont have a shot in big northern cities. Stuart do you see any end to this in the foreseeable future . I do not. New york metropolitan area wants 15 billion from the federal government to build a tunnel to the hudson river. We will get our act together. It will be well spent. The Political Class in places like chicago, new york, San Francisco is dysfunctional. They will never change. There is no reason the federal government should be spending 15 billion into a dysfunctional Political Class like we have in the new jersey region. Stuart i want to ask about the white houses invitation to moderate democrats, come on in and talk about tax cuts. Are you confident that any democrat who gets involved in tax reform will want to cut taxes . In the senate. Joe mention of west virginia. Stuart does what he want to cut taxes . Be on that there wont be any democrat and in the house maybe two. The idea that you are going to get moderate democrats to come over to a tax plan that gary cohen or secretary Steve Mnuchin wants that will grow the economy is extremely unlikely, the Democratic Party has moved so far left they will cut taxes and spur growth is very unlikely. Stuart they might cut the Corporate Tax rate but attach strings to how schumer will allow moderate democrats to stray off the reservation and sign on for a progrowth tax cut. Stuart democrats do politics better than republicans. They stay united. Stuart you are all right, appreciate it. A federal judge wants the state department to find Hillary Clintons emails on benghazi, ordering new searches. What do you make of this . Judge napolitano the actual search ats being ordered are state Department Servers for the emails of three of her closest aides. The state department and the Justice Department, the obama, the Trump State Department and the Trump Justice Department sent the same lawyers to this judge to make the same argument that have been made for four years during the obama years that we have already searched and are not going to search anymore. There has been no substantial change in the Rex Tillerson state department or the Jeff Sessions Justice Department about mrs. Clintons emails and obama appointee to the federal bench that i am not buying this argument, you are going to look for those emails, the world turned upside down. Stuart i father judge ordered go find them. Judge napolitano the obama appointed judge rejected the argument of the Trump State Department and that you will look for these emails. It is the Trump State Department that said we dont want to look for hillarys emails. Why are they making the same argument they blasted during the campaign . Judge napolitano stuart you tell me this, is this a step forward . If the state department is being ordered find the emails judge napolitano an area of emails that has never been looked for before, emails that mrs. Clinton sent to her personal aides and they sent to her that did not show up on the ones she decided to surrender to the state department. To find them, to state Department Servers which captured 100 of these aids emails use on that server. Stuart will we see the light of day . Judge napolitano i hope so, we will see how angry i am that the sessions Justice Department and the Tillerson State Department is trying to protect mrs. Clinton. Stuart two more things come you have an article on foxnews. Com called the truth about sanctuary cities and rule of law, chicago is in the center of the latest sanctuary city showdown in the story. Judge napolitano the Justice Department is attempting to attach strings to the distribution of federal funds that did not exist when the funds were distributed. The money to Jeff Sessions whats to stop flowing to chicago was budgeted by the obama people. They cant put new strings in until the new trump budget of any is passed, then they put the strings income you want this cash . You cooperate with immigration authorities. Stuart they are not allowed to go into the Cook County Jail and not allowed to find illegal criminals. Taken out, the mayor of chicago says no, got to release them into chicago. Judge napolitano if he take the money under the trump budget he will have to agree in writing before he gets the cash, Chicago Police cooperate with ice. The earliest trump budget could be october 1st of this year. Stuart in seattle the city council proposed a tax the rich measure, raise some money by taxing the rich in that city, there is no state income tax, what is the problem. Judge napolitano a clause in the thanks be to god in the Washington State constitution, selective taxation and requires the same tax rate for everyone. You cant impose a tax on somebody because of money they earned. That is not what is voted for, the legislature keeps rejecting that. Where is the legislature . Stuart they are in Washington State which is the one of the ubers judge napolitano you are right. Stuart are we done . Thank you very much. Blue apron, they lost money, 14 lower, a new all time low. Disney, down big yesterday, and no particular reason other than it is a down market. Snap reports their financial position after the closing bell, the share price of the drugmaker para go, the best performers in the s p 500, strong sales of the generic drug business sector and the Company Raised its profit forecast, investors love that, it is up 20 . Now this, federal forecasters say Hurricane Season may be worse than expected. Hurricane franklin churning on mexicos central gulf coast, janice dean coming up soon on that. Healthcare on this program, we warned about democrats pushing for a single payer system. Up next we are joined by former deputy secretary alex czar, former president of lily, he says hold on, you are not headed toward a singlepayer system, not at this moment. Back in a moment. Nicole a key move, just watching videos, original content, something new from facebook. This is a video section. A new tab called watch, short episodes, original videos all on facebook and a special tab and dont forget facebook, apple and google dominate 60 of the time and 80 of the ad dollars on mobile and they are competing with youto but and mark the greg said to his staff dont let pride get in the way. We already saw that with Instagram Stories taking that from snap. Take a look sidebyside, google on the left, very similar, Major League Baseball game. [brother] any last words . [boy] karma, danny. Karma [vo] progress is seizing the moment. Your summer moment awaits you, now that the summer of audi sales event is here. Audi will cover your first months lease payment on select models during the summer of audi sales event. Stuart dark, doesnt it . That is netflix releasing a new trailer for the next season of the crown. These 2 focuses on Queen Elizabeths rain in the 50s and 60s, they will be available for streaming december 8th. I will the to get into that. We spoke to beating obamacare author betsy mccoy about Democrats Health reform plan. She had a warning about the democrats proposal for a singlepayer system. Watch this. Democrats are rolling in what they call medicare for all or medicare for more meanie people in their 50s but when you have to compete with the younger population for healthcare they will be pushed to the back of the line as they are in a singlepayer country. Stuart joining us, formerly the president of lily us a. I think the singlepayer system in some form is coming. That is staring us in the face. You dont agree with it. The notion of medicare for all simply cant pass for three reasons. Somebody has got to pay for it and as Margaret Thatcher said the problem with socialism is at some point you run out of other peoples money, our existing Medicare Program is and even sustainable with the current population. Do you take a whole segment, 55 to 65 that are paying into medicare, make the recipients of the medicare subsidy, doesnt work. The math doesnt work. The other problem is it would wreak havoc in the rest of the insurance system, the rest of us with commercial insurance are subsidizing medicare because it is not paying its bills, pays . 80 on the dollar. It will drive up commercial insurance for the rest of us and it is a monopoly. Why do we want another monopoly . Judge napolitano you are right on all counts and make good economic sense but you are forgetting politics. I think there is a majority in this country, a majority of voters who wants to go down the singlepayer road. I say that because you couldnt even get 50 republicans to rein in the growth rate of medicaid. They are representing voters who want a subsidy for all kinds of people in their health care. The political tides are against you. They are for singlepayer. Lets not underestimate how hard it is to repeal and entitlement was given so yes, it failed. Going into a european socialist monopoly Healthcare System in the United States, i still dont think it is going to happen. I dont think americans want to become charlie gard, the bedrock of our system is the exit rights we have. If we do not like our Health Insurance we can choose another that meets our needs. Reminds me of the comedian lenny bruce who had a line about socialism. He said it is like putting the phone company, the old phone company in charge of everything on earth. If you have a complaint you end up like a schmuck with a dixie cup on a string. You dont have choice. Stuart i pray that you are right on this occasion. Tell me about collapsing obamacare. I understand premiums are going to keep going up. Is that accurate . Just keep going up as long as that system is in place. They have got to go up because the risk pool is broken in how the statute was written. They way they created the regulation of premiums, they forced the young and healthy out of insurance, they would rather pay the penalty than astronomical premiums to subsidize the older and less healthy. The pool keeps getting thicker and older and premiums have to keep going up. Stuart disaster, just awful. We cant do something about that . Unbelievable. You know what you are talking about, come again soon. Who is next . Janice dean on Hurricane Season. How bad will it be . She forecasts coming up next. Its time to rethink whats possible. Rethink the experience. Rethink your allergy pills. Flonase sensimist allergy relief uses unique Mistpro Technology and helps block 6 key inflammatory substances with a gentle mist. Most allergy pills only block one. And 6 is greater than one. Rethink your allergy relief. Flonase sensimist. Whoa thats amazing. Hey, im the internet i know a bunch of people who would love that. The internet loves what youre doing. So build a better website in under an hour with. Gocentral from godaddy. Type in your idea. Select from designs tailored just for you and publish your site with just a few clickseven from your. Mobile phone. The internet is waiting start for free today at godaddy. Who knew that phones would starentertaining us,ng . Getting us back on track and finding us dates. Phones really have changed. So why hasnt the way we pay for them . Introducing Xfinity Mobile. You only pay for data and can easily switch between pay per gig and unlimited. No one else lets you do that. See how much you can save when you choose by the gig or unlimited. Call or go to xfinitymobile. Com. Xfinity mobile. Its a new kind of network, designed to save you money. Stuart Hurricane Franklin slammed into mexicos gulf coast, the First Atlantic hurricane of the season. Federal forecasters say we will see a lot more of them. Meteorologist janice dean joins us. How bad is it going to be . How many storms did a forecast coming our way . Quite a few and they just upped their forecast yesterday. Here is franklin, what is left of franklin, our First Official hurricane of the season. It is now just remnants because it has lost its fuel source, the gulf of mexico. It strengthened very quickly in the gulf of mexico from Tropical Storm to a hurricane and now it is just an area of low pressure but with that the potential for heavy flooding across eastern portions of mexico, flash floods are a concern. A lot of heavy rain in the next 12 to 24 hours. We are watching some areas of concern in the atlantic. This area of low pressure where we think it will curve, computer models dont show it making landfall, that is the good sign but we are watching this area of disturbed weather off the coast of florida. These are the areas we look at into august and september, some strengthening of an area of low pressure very quickly. This is what we were talking about, 40 chance of development and the models, only a couple of them develop this and curve it out to see. That is the good news. Here is the big take away, yesterday the National Hurricane center said if you live across areas of the Atlantic Coast or the gulf of mexico you need to pay close attention because we are expecting 14 to 19 named storms, we had 6, the average is 12, hurricanes, we only had one, that was franklin but they are predicting 5 to 9 hurricanes. Heres the big take away, major hurricanes, category 3 or higher, two to five. We have not had a category 3 hit the us in over a decade. The National Hurricane center is saying pay attention. We think all the ingredients will come together for an active Hurricane Season. Does this mean we will have a landfalling hurricane . That we cannot tell you but we can tell you conditions are ripe for development. See surface activity above average for all the important areas. Right now we look around the caribbean but later run into august and september we watch these areas of low pressure, waves off of the coast of africa called the cape verde a season and that is where we see the strong hurricanes as they make their track across the atlantic. Stuart i am listening to you but i want to add one think of the forecasters, the feds have been wrong before, havent they . This is just a forecast. Anything could happen. We could have 9 hurricanes in the Atlantic Basin but none of them come close to home. I would rather people be prepared and expect a busy Hurricane Season, make your preparations, know what to do, have your escape route in your head. If we dont get hit that is awesome. At least people are prepared. Stuart you have the only job in the world where you can be consistently wrong and still keep your job. The producer told me to say that. Lets bring her back. Janice, come on, janice has a new forecast. Only reason im sticking around. Stuart i will promo this. Freddie the frogcast and the flash flood, waiting for nine copies for my grandchildren. They are yours. You are so special, the first anchor on Fox News Channel or foxbusiness to promote freddie the frogcast and the flash flood and you can tease me and i let you do this. Stuart do not be a stranger, see you soon. Now this, tomorrow at this time, you will hear from this man, former Michigan State Football Player garrett kings junior, wide receiver outside the Miami Dolphins Training Camp holding a sign saying ready to work, will work for free. Tomorrow find out the end game. Did he get a job . Find out. He is on this program tomorrow, this time, more varney after this. It starts a chain reaction. Thats heard throughout the connected business world. At t Network Security helps protect business, from the largest Financial Markets to the smallest transactions, by sensing cyberattacks in near real time and automatically deploying countermeasures. Keeping the world of business connected and protected. Thats the power of and. Stuart i have got one minute left, and the block. Favorite story of the day, liz . Liz from additional comfort food from oprah, cauliflower, mashed potatoes. Just in time for holidays. I love it. The giant dinosaur, about the size after shopping mall, just as extinct. Liz that was funny. Stuart that thing is 120 feet tall. It is big. My favorite story is, Jordan Spieth. The pga championship well kicked off, teed off today. Im hoping that Jordan Spieth wins. If he does, he joins an exclusive club, only man or one of six to win all four majors in his career. Liz that is exciting. Come on. Stuart ladies and gentlemen, i will be glued. Okay . Connell mcshane in for neil. It is all yours. Connell how do i make this work . Golf, dinosaurs. Stuart oprah. Connell and oprah to north korea. Stuart. And Everything Else. The reports now that north korean missiles could reach guam in just 14 minutes if they so chose. Guams governor is urging calm and trying to calm fears. Lets start there. There is concern and worry but there is no panic. This bellicose statements, this is something no different than what he has been doing since 2013