Is this another knee jerk reaction by analyst well discuss that one. Politics, the wall street journal says some democrats are willing to fund new border structures. Is that a break through . Nancy pelosi says not a dollar for a wall. And now this is important because border wall funding is the issue that decides whether or not the government is shutdown again. Heres where politics get really dramatic. In virginia, the top three state leaders all democrats in decade old scandal that just resurfaced. The fourth person in line for the governship is a republican. There may be more embarrassing documents to undermine senator Elizabeth Warren false claim to be a native american. Heres the the question. If bad behavior is revealed from the very distant past, does that disqualify someone for public l life . It certainly affects virginia and may affect senator wrns president ial aspirations. Money and politics, thats what we do. Varney company is about to begin. Lets start with this. I say a President Trump framed the 2020 race at the state of the Union Message by putting capitalism against rising interest in socialism. Joining us now adam brandon with Freedom Works market watcher rebecca. Adam do you agree that with me, that the president framed the 2020 president ial race when he said america will never be a socialist country . I absolutely i think he did. And i think if you take a step back most of the time state of the union usually forgotten about 48 hours after the event. But this clearly was the first shots fired in the 2020 president ial election when you have democratses talking about medicare for all and freeing energy all a of the rest of that he total set barber like choice in 2020 is about to do we want free market and benefits capitalism and benefits of or mob rule and socialist. Adam before we leave do you think that the today Democrat Party is essentially a socialist party . I look at their base thats what theyre demanding you were talking about europe and recession europes problem is too much government in economy and a if you pull back goth youll leave room for private sector to grow in europe thats a problem for a long time but absolutely today Democratic Party would not have a home in this party. Did you ever thought you would see the day when american president says america will never be a socialist country thats for you brandon. Absolutely. You look at theres just a College Campus all of this has been building up to this point. But the taboos is that if you believe in free markets look at the prosperity it brings people, ill take this fight and it seems every generation we have tick another look at socialism to realize it doesnt work. Yes, sir. With you on that one. Rebecca youre our money person but ill ask you the same political question. Am i right did the president frame the 2020 debate as capitalism versus socialism . There is no doubt that that is exactly why with he did, and he has to because i just wrote a piece about fox business lets be clear about this. The include party is going to socialism. We have a couple of polls that came out last year that showed that 70 of americans are for medicare for all. That millennials have a better opinion of socialism versus capitalism so we have got a huge fund mental shift on how we view economic liberty in our country and we have got to stand up and the president did this. At the state of the union he stood up and said we are a people of liberty and freedom not Government Co herrings and that is the best thing to do because we are fighting socialism lets be clear. Rebecca now youre our money person many this debate at this moment. Lets suppose that the socialist look good heading into 2020. Theyve got a leftiest candidate at the head of the ticket and theyre polling well. Does the market go down . Stu, it cant do anything but go down medicare for all left Wing Institute did economic result study for ten years of meds care for all 32 trillion dollars. 32 trillion for just a decade our entire debt federally for the the since beginning of the republic is 22 trillion right now. We cannot afford medicare for all this is the end of america as we know it economically. So people have got to wake up to realize we are already with the retirement of boomers going for ahead of our economic shortfall medicare for all, free education, universal basic income which are all a of the tenant of a socialist platform it is not economically viable and we will go the way of every other empire upon itself like the roman empire. Take a look at futures this is thursday morning lets have a look how we open up and were not opening up but down. Europe is affecting our markets here. I look europeans have just toned down their growth forecast for this year way, about way down it, in fact, europe is on brink of the recession, and yet they have printed a ton of money theyve got Interest Rates below zero theyve got no left to fix their problem so rebecca are you with me on this . Is europe a part of our problemmed today on wall street . Yes, see thats exactly what it was 1. 9 projected growth to 1. 3 huge, huge l decline about, and, obviously, just like you said, theyre out of tools they have printed the money theyve quantitative ease, they have lo Interest Rates next to nothing. So where do they cut from here what does the ecb do and bank of england do today theyre meeting theresa is going back to brussels we have intersection the in hard brexit also pushing done growth projection so europe is a problem and we dont want that to happen here. Were afar from that but we could have the same thing happen if we doajt normalize to some case so europe and it is slow growth projections we are now projecting First Quarter growth at 1. 3 so we have had a great earning season but. 3 for the u. S. For First Quarter is a problem and it is a global e slowdown that is what had is getting us our low projection now. Ouch. All right adam rebecca both of you thanks very much for joining us always appreciate it. I have two big names you know them and both of them are really moving this morning. Twitter, down chipotle up start with twitter, ash look at it go down 7 lower whats the problem . Upside they beat on top and bottom line rev knew and earnings that was fine but they gave guidance looking ahead and they also said to up their operating cost and spending by 20 . They also say theyre no long per going to report monthly active users after this Current Quarter which kind of go why were they going to change it to what they call monetized daily active users which actually if you think about it maybe a more accurate forecast of, you know, if someone is using their service are they actually spending money and by how much . So i they change to that so it was a goods report and not so good report. I wongd per it was analyst at it again. Because it is out. Revenue and dont like it down it goes. Okay. Chipotle lets see that one again i think last time i saw it chipotle was on the way back there you go. Look at that. [laughter] 8 higher, 44 dollars what are they doing . Basically they are turning thmses truly into a fast food burrito chain now remember are watch this stock action because theyve now retraced their two years qort of food born illnesses that put their shares in the emergency room. You may remember when what happened stuart, the ceo is lead the industry in food safety and brought in new ceo and he changed menu hes doing faster deliveries, faster online orders, hes building new Assembly Lines to handle online, and restaurants nationwide, so hes had also working on new shaking at the menu bringing in bacon to the menu which i always loved. You know, mexican chocolate milk shake so hes saying were not going to talk about you know the platitude but execute and hes executing the digital orders internet orders are coming and really strong for the company. 500 dollars share again. Well take that i guess overall, though, this market is headed south of the opening bell today. A triple digit loss, we were going to be down a bit more than this right now were down about just 100 points and nasdaq down about a half or twothirds of one percentage point. Now were going to have a lot more on President Trumps attack on socialism. Larry kudlow joins us in our next hour did he ever think he would see the day when an about american president needed to say america will never be a social fist country . Larry is on that one. The democrats are reportedly open to funding for barriers on the border. Next, about we have one of the lawmakers who is in those talks, i want to know. Will speakerrer pelosi accept a deal . Bad news here, very sad news actually. Frequent guest on this Prime Minister and a big part of this network has died. Bob was quick to respond any time we needed his voice on real estate, on las vegas, on legal issues he was there. I can honestly say he was one with of the good guys in this business. Bob died after a long battle with cancer. He leaves his wife lynn, three children and six grandchildren. Bob massi our friend was 67. The new Capital One Savor card. Earn 4 cash back on dining and 4 on entertainment. Now when you go out, you cash in. Whats in your wallet . During the fall, everyone who has medicare may be eligible to choose a new Medicare Health plan. But you may be able to choose a new plan right now. If you answer yes to any of these questions are you turning 65 . Do you have both medicare and medicaid . Do you have medicare . And are you losing Employer Health coverage . If you answered yes just once, you may be able to choose a new Medicare Health plan right now. Call humana at the number on your screen to see if you qualify. And well send you this helpful medicare decision guide. The call is free, and theres no obligation. Humana has over 30 years of medicare experience and offers a wide range of allinone Medicare Advantage health plans that include medical and Prescription Drug coverage and valuable extras like a 24hour nurse advice line. The silver sneakers fitness program. And mail order prescription coverage. All for an affordable monthly plan premium. And, in some areas, no plan premium. With humana, youll get more than original medicare alone and have the peace of mind of knowing youre covered for doctor visits and hospital stays. Plus, routine physicals and preventive screenings. And when it comes to prescriptions, in 2017, humanas Medicare Advantage Prescription Drug plan members saved an estimated 6900 on average on their prescription costs. So call a licensed humana sales agent today at the number on your screen, to see if youre eligible to enroll today. And say yes to getting the right Health Care Coverage without having to wait for it. Well, lets have a look at go pro its up. Theyre just posted their first profit in five quarters, the stock is up three and a half percent okay thats just 18 cents. 5 35 is your quote. Kellogg reported a loss, why . Higher cost, ouch down it goes. 5 drop there on kellogg. Venezuela lets get to that. Senator marco rubio says Opposition Leader juan is going to name a board of directors for oil company sitco does that remove money from maduro. It shuts is off from maduro and puts it to juan. Maduro saying hes going to fight this in the course and so is russia are. Russia owns about a 49. 9 about half of the stock as collateral for loans that they gave to sit thrps co oil company has those shares so this is going to be royal possibly in the courts but theyre biting hard it is a big player in refining oil refining industry. This is a move to starve maduro of all cash that he out of the oil sector that he could then use to pay his military backers. So you know when that starts happen whatting theyre starving and you need a quick resolution, and they dont drag it out in the the court the good of that. I want to get to Migrant Caravan because federal and local police in mexico theyre lining up at the border. Some members of the caravan have arrived and you can see whats going on right there. Congressman steven from mississippi the wall street journals says some democrats on committee could back some pupgding to build new barriers on the border is that an accurate are report . Well good morning mr. Varney thats absolutely accurate not only am i hearing that in private but im also hearing it in public. Round, several of the democratic leadership is said that they support physical barriers in certain places so what were seeing right now is a matter of priorities. Theres talk about the the physical barriers, theres talk about additional boots on ground as well as how do we utilize technology to full essex tent some want to spend time on technology and others want to spend it on boots on the ground but i think we need all of the above. It sounds like progress but obvious question is whether or not Speaker Pelosi would accept that kind of deal. I cannot speak for anyone. But i do know that theres been some signals that theyre allowing on the Appropriations Committee to make their decisions to hammer out the details to present a bill to not only democrats in the republicans but also in the house and the senate. Soso far, i feel like everybody is negotiating in good faith and it is up toes us to come up with a bill that has Common Sense Solutions and that can garner bipartisan support and, of course, ultimately be signed into law by the president of the United States. Thats the next question isnt it . Would the president sign a deal which is not a full wall or cross border everywhere fully funded . Would he sign such a deal it . What do you think . Yet, about i definitely cannot speak for the president of the United States. But we all want the same thing and we want to secure our borders keep americans safe. We want to address the humanitarian crisis, and we with dont want to shut the government down so i think if we can find something in the middle, to make everyone happy, that were going to be successful and do just that. Congressman can i put it like this. What youre saying what journal is reporting sounds positive, sounds like theres constructive discussion going on and that youre edging towards some kind of a deal kind of put it look that and leave it there . Yes, sir, you can. Okay. I was expecting but you have 20 seconds do you want it . Absolutely. I mean, again, you know were in a classified briefing the other day no one said they did not want the secure the beard and protect americans. We have to go, we have to stop the trafficking of humans we have to stop the trafficking of narcotics and criminal aliens coming across our border we want to protect the American People. S thats the one thing unifying uses right now its just a matter of how and when and where we spend money to do so. Yes, sir. Steven thank you very much for taking your very valuable time out to be with us today. We do appreciate it, sir. Thank you. Thank you. Sure thing. Heres a look at where market is expected to open in about what 11 and a half minutes down 120 on the dow. Down 45 and nasdaq. Now this some of your phone apps iphone apps i should say smflt iphone app are reading your every move and sending that information become to the app developer. What a story. Did you know about that one . Were on it. Well deal with it next. Comcast business built the nations largest gigspeed network. Then went beyond. Beyond chasing down network problems. To knowing when and where theres an issue. Beyond network complexity. To a zerotouch, onebox world. Optimizing performance and budget. Beyond having questions. To getting answers. Activecore, hows my network . All sites are green. All of which helps you do more than your customers thought possible. Comcast business. Beyond fast. Theres news on some xans and stocks are moving first off yum, that is the parent of kfc taco bell prison is it a hut profit down revenue falling short stock is down 3. 7 . How about duncan love their coffee. Sales fell short, down nearly 5 on duncan at 65 bucks share. A bunch of iphone apps use a particular firm that is tracking your activity within those apps without you knowing. Thats according to a report in tech crunch. Every or swipe you make in particular apps is sepght become to the developer. In some cases, its your credit card data. Judge Andrew Napolitano is here. Okay thats a broad outline of the story. Is what theyre doing legal . Depends upon where you are. If youre in the e. U. , it is absolutely illegal and a the e. U. Will, the government will pursue you in the United States you have to file a lawsuit. Because theres no legislation to prohibit this. Now, when we look at all of these apps from holding up my iphone i dont think we contemplate that this thing is looking become at me or to be a little bit more precise recording what i am doing with it and sending it it a third Party Without my permission some of these app when is you sign up for them promise you privacy so if theyve done this in violation of that promise, you have cause of action. Others are silent. None of them say by the way were watching you an were selling what youre doing to a third party. And if you dont stop us were going to keep doing it so someone is going to have to bring a lawsuit in the United States and identify these apps and expose them. You represent me judge because this morning i got what happened to you this morning . I got a message from google apps woke up on my phone tboolg app message congestion in lincoln tunnel okay how did they know i used the lincoln every morning. Did you allow grade school to find out where you are did you turn that off . Wait a minute, my settings saying do you want a location revealed . Never and they still knew where you were. So the never is a facade but ive not read fine print in google map app. Okay never done that. Say never and they still find out where you are because they think that i doing you a favor by warning you about traffic how could that be traffic when you go through at 3 30 in the morning . 3 20 but thats [laughter] privacy is gone. I am sorry to say that and you have been pressing that on me for years. The right to privacy still exists, but we mock its violation two years ago this would be scandalous for the the story were talking about today it is like ho hum back letter writing thank you. Go see [laughter] with a quill check the market. [laughter] quill a quill stop it. Wheres your ink . [laughter] if the Dow Jones Industrial average will go down 130 points at the opening bell and nasdaq is off three quarters of one percent it is a down day at least to the open. What do you look for when you trade . I want free access to research. Yep, td ameritrades got that. Free access to every platform. Yeah, that too. I dont want any trade minimums. Yeah, i totally agree, they dont have any of those. I want to know what im paying upfront. Yes, absolutely. Do you just say yes to everything . Hm. Well i say no to kale. Mm. Yeah, they say if you blanch it its better, but that seems like a lot of work. No hidden fees. No platform fees. No trade minimums. And yes, its all at one low price. Td ameritrade. 189 seconding to go and well find out how market open this is thursday morning im pretty sure it is going to go down. I dont know how far down, but were looking at a loss of maybe 120, 130 points to the dow industrials. 70, 75 on nasdaq pretty much across the the board will be down and lets find out for sure here we go were up, running and were down in the very early going were down look at that, 150 odd points. Okay. Thats quite a loss 156 down twothirds of one percent were down 160. Well get to the reason in a moment but suffice to say opened lower across the board the s p 500 is down. About a half percentage point 16 points. The nasdaq composite is down how much lets see it is down. 8 so with losses all across the board do take a look at two big name stocks twitter and chipotle theyre big names theyve both been beaten down recently chipotle on bounceback, twitter on the way down some more. Well deal with this in just a second. Michelle is here, yowl is here, evening host Elizabeth Macdonald is here with a new name and Ashley Webster is with us too. I want to turn to you first, i think europe has something to do request this Early Morning sell. Theyre heading for recession. Theyve been, theyve got below zero Interest Rates theyve printed a ton of money. Theyve got no left to fix their problem. They dont. But i think comparative basis u. S. Is doing great. This benefits our markets and, i mean, theres a reason why were it benefits our markets . The money flows, and so money flows when investors looking globally where do it they put their money . I think longterm this benefits usts u. S. Markets we looking at since christmas a lot of people dont they realize it has been a strong january. This has been the second best market weve had in 90 years since 1928. Second best market. And some stocks funds up 25 since christmas ppg so this is a very various u. S. Pungdz so a very strong market for u. S. And our growth is here and tough growth for not just 6 months or year ago and europe one of the big trouble and massive amount of debt the economy is contracting italian banks are overloaded with debt and a real big issue in the future. But thing is it wont much for there to be positive news but a lot to have extremely positive news that were better than last year. So you kind of think about that who knows europe could be a buy here an ive been saying that for a while now. Not many of our viewers invest in europe unless widely mistaken. Or invest like a fund request some stock in it. Well in europe and couldnt be caught dead in it. To the point tomorrow im closing for our u. S. Small cap fund had is international. So i agree with michelles comments but i think last year the markets were beat up really are badly and i think theres a very good time to get into international markets. Okay. I stand corrected. Great. And im going to be all i can see it coming this way. [laughter] all right, the comeback kids that we mentioned earlier that would be chipotle start with chipotle fresh food menu are seems to be working of a years of the e. Coli problems are they coming become and back on track joe . Ting theyre back on track im not sure it will be a buy but back on track and a lot have left for good but theyll make their way back. Twitter, they were on theback trail until this morning are you buying them . I always say if youre trying to buy a stock like this, or even chipotle you want to buy a small amount speculative but ive always had a soft spot for twitter in my art with a lot of my news that way but we need to remember twitter is hurt because of their change to Forward Guidance and a lot of companieses the past couple of week withs have been hurt by wall street. Their change to Forward Guidance think about what if ceos are being extremely conservative and who knows maybe well have a big surprise on the upside on growth. So you know, im not too worried about about it. From new york next one, big merger between two banks sun trust and bb and t it would create a sixth largest bank in the country. 66 billion dollars qort of all stock merger wait a second, michelle, Maxine Waters she runs her House Financial Services committee could she interrupt this . She might Say Something but i dont think she can actually interrupt it so you know, her big thing is about the financial banks mistake that Financial Companies mistakes in 2008 collapse heres what shes pushing on. Increase mortgage legending to miernghtses so shes Just Launched a Sub Committee on Diversity Inclusion she could haul in a lot of banks including the ceo of these companies, and to say what are you doing in terms of boosting mortgage lepgding and that bad pr but over them all. Got it. I want to talk about the video Game Industry two of the video game makers in particular take two in Electronic Arts both of them were slammed yesterday. Theyre both feeling the heat from fort night which is a enormously successful game, and it is free and you can play it online without a special console but stocks are back up again today. But you know it is very lard to compete with fortnite isnt it . It is free and two, i think that bigger story here stuart is how big the gaming industry is becoming. Particularly in a merging market actually this morning when i was reading, netflix has found that fortnite is bigger competitors for screen time. Thats saying something. I understand that google says fewer people are watching youtube because theyre playing fortnite thats big. That is big. Which i but to initials point when companies are coming out free, theyre competing were eyeballs we sue what happened with whats app they sold put for or 19 billion few years ago with no revenue stroam at that time. So once you have the eyeballs and you have customers, the revenue will come someday facebook same thing. Whats incredible is that twitch which had is amazons platform people can watch by the millions other people play fortnite so a secondary market as well potential theres a way to play it if youre into it and it is microsoft has the cloud for video gaming and google pushing a project stream. For just for gaming so thats a way maybe to play this instead of like getting in at the top or for some of these pfnlgt just incase i ever want to play. Now i know how to i think this is the low of the day but down nearly 170 point as we speak. The dow is at 25,200. Couple of individual stocks here we go. Kellogg reported a loss because of higher costs, it is down nearly 4 . Go posted first profit in four quarters up 4 . Tyson their sales missed the mark, lower pork sales were told down 2 now take a look at apple home pod near the homed to Voice Assistant being way outsold by amazon echo. Does that surprise you, michelle . It doesnt surprise me because i think amazon echo is number one but i was thinking about this this morning were all saying okay, this apple product, no one cares. I felt the same way about those air pods when they came out in 2016 i said everyone is crazy i never want them, and i would never pay 150 dollars for them guess what i have them and i love them who knows. It is home devices what was it called google whats that one called nest . Home pod who has home pod . Google home. The amazon echo right, ask alexa and apple product are. I think most important tech no Technological Development since iphone because thats the computerized home thats what we respond to thats a huge market isnt it . Sure, it is. Well whats the weather going to be . Is that about it . Whats the time . Five grandchildren on cape cod even the threeyearold twins have a home one of thing echo things that says get up it is 8 20. Time to go to school. Or put on your clothes time to go to school. Refer lugessizinging parents. Babysitters. So it has amazing glad they didnt exist in my day. [laughter] parents love them because amazon echo dont you look it is nearly what 9 40 eastern time im sorry joe. Im sorry michelle. Love to have you on long per check the big board because this is the low of the day down 183. 25,200 thats where we are. Were down today. Larry kudlow capitalist kind of guy. Joining us next hour to talk about the state of the union and the need to condemn and oppose socialism. Who would have thought we would need our president to do that . As he did who would have thought . We also have this, katy frequent guest on the program and a spokes fern for the rnc. She has her Instagram Account suspended for posting a fir of Elizabeth Warrens Registration Form. They called it harassment and bullying. Katy will be on the show 11 00 this morning. Can you believe that . No. Why bother mastering something . Because when you want to create an entirely new feeling, the difference between excellence and mastery, is all the difference in the world. Introducing the allnew lexus es. A product of mastery. Experience amazing at your lexus dealer. This is not quite the low of the day but surely down down twothirds of one percent down 170 point for the Dow Jones Industrial average. Next case. A nationwide outage at wells fargo sounds serious christina what happened . Wells fargo customers not get a break because right now online applications are not working as well as on the cell phones too so i called the company i call thed Automated Service seeing i can get somebody they said no right now. You cannot access any of your online data for wells fargo customer we have one employee told us host a customer to and able to go on to website to see how much money he has but once he tries to click anywhere else it doesnt work and this isnt first tile just this month alone wells fargo apologized on february first because they also had a system outage. We have a reached out to wells fargo to get a statement but at the a moment, we dont know whats going on. And another outage 2018 was a tough year and involved with a lot of improper practices and now, another outage. Got it. Theres one more story which i hope you can handle. This a cryptocurrency mystery 136 Million Dollars worth of customer holdings stuck. Somewhere tell me. Should be a movie out of it online Cryptocurrency Program to exchange a cash as well as cryptocurrency where it is based headquarters. You have a situation where the founder of the company who is very cautious about security unfortunately passed away complications he wrote all of the information to his wife all of his assets and thats where things get murky out of other some are saying even three million. You said 136. Ive seen 145. Reach out to canadian report rs, money that has gone missing because it is encrypted he was the only within with the password because he was so didnt he put passwords in the will . Did not. So all of these investigators researching, his wife doesnt know how to answer it and then you have over 360,000 customers that use this plat 909,000 that havent received their money or cryptocurrency now conspiracies. Is it missing . Is it offline . Did he steal it . Is he really dead or somewhere smtion because he passed away in india theres also a possibility you have a real problem accountability of cryptocurrency. I reached out to journalist they say theyre not responsible regulating the cryptocurrency. Wild, wild wetion. Thank you very much. Not good if youre a cryptokind of or founder but well said. Back to that state of the Union Message. Man, thats waves, President Trump play up his economic success, but the democrats were having none of it. Pat on the hands basically joining us now is former chief economist with the office of management and budget, sir, i think i messed up your name there repeat it please. Joe. Thank you very much indeed i do apologize joe i really do. Okay. We talked 28 years ago stuart. [laughter] we did when i was at the office of manager and budget. Those are the days. [laughter] thank you. Sorry i had to throw that in. I am a veteran and thats the truth. Now, tell me about about the democrats and their response to the very good Economic News which the president delivered at the state of the union. They sat on their hands. How do you account for that . Well, as you know stuart, the good old days were always really wonderful. I can recall some pretty difficult tomb it is in the early years of the administration i served. When the economy was doing pretty well, and it was hard to communicate that message and some people werent really willing to accept it. At the same time, you know, the world is changing in some ways, i would, i believe in unfortunate direction instangt media, instant communication does suggest that often times the most outrageous come to the front of the cue and get the most attention. Its unfortunate that the economy in many respects is doing very well. Im surprised the president didnt talk about it more in the state of the union. But youre correct in many cases the good news was not received in the fashion you might have expected. I guess the state of the Union Message is a tv event. The cameras all over the place looking for reaction. I dont think that was the case a few years ago. But it surgery the case now. And i think see if you agree with me on this. I think Television Made the democrat it is look bad actually because if their response to some very good Economic News from the president. I do wonder you know about when the knicks the various camera feeds do they choose something that might, might be noteworthy in the sense of being untoured outrageous whatever. Its hard to say. But as you know, you know, turn the clocks back. We think about the legendary friendship between ronald rage began and tip oneal. There were harsh words going in both directions at times. I think that difference may be the most significant difference may be that back then when we had a National Need they would sit down and try to solve the problem. Were getting to the point now where our elected policymakers dont talks. And that is, i think, unfortunate. My how times changed not always for the better. Joseph i do remember 28 years ago. [laughter] not totally lost my memory. Youssef thanks very much for joining us about, sir. Appreciate it stuart. Good to see you. Check that big board not quite low of the day but off 169 points ive got 27 of the dow 30 in the red. Look at that. Were just Getting Started her on Varney Company big day for politics and money and we have big names coming up. Kudlow and picture on a promo graphic on Varney Company, you know youve made it. [laughter] obesity on rise for millennials doc marc siegel is here. Define obesity. Based on height versus weight called a bmi that index is how tall are you and how wide are you and podcast a certain point, it is called obesity but heres the bigger point twothirds of all americans are overweight twothirds. Onethird are obese. Which is vastly overweight and then grossly over whanch is overweight what is it . Well, it has to do with being several pounds more than you should be for your given height. Theres a standard of this. You know, like what height are you six foot heres what your expected weight is supposed to be. If youre 170 pounds, thats overweight if youre 189 thats obese these are real numbers. Wait six foot tall okay 160 pounds. But your okay at that. Right are. Okay giving you that is an example. We do these index based on height and what weight is expected to be for that height. Now you guys want us to be rail thin. Heres why, you know what happens when youre overweight . You build up inflammation in your belly in your abdomen, you build up chemicals that body makes from fat that cause inflammation you know inflammation leads to, cancer. And did you know what they found out in this study from the american cancer society, they found out that you 60 greater chance of getting endometrial cancer when youre age 25 to 49 than you used to have because of weight. Same thing with gallbladder cancer 40 more likely to have of gallbladder overweight or obese 30 to 40 more likely to have colon cancer. These are very common cancers colon cancer is extremely common cancer top two killers in the United States among cancers right now. So what happens is you gain weight. Your body me metabolizes into fladges chemicals that then leads to cancer. So we really should be rail thin to guard against these risks. Thats really what we ought to be. Im going to change that message a little ill say it is not just that but lifestyle we need to exercise more and have a proper diet. Heres the problem with this study. The problem is it doesnt look at what thin people actually eat versus what overweight people eat and thin people are eating for fruit and vegetables theyre eating more fiber theyre eating more nuts berries more fish so overweight group is eat more dairy and eating more stuff thats causing cancer. So cancer is due to being sedentary and due to eating wrong foods and then it is due to fladges of being overweight. Certain kinds of cancer but ones i worry about i would add Breast Cancer to that too colon, with Breast Cancer of the womb. We have 20 seconds im scaring you you 165 pounds am i overweight . Youre gorgeous yes you are overweight and liz is not ashley me and stuart have to lose about 20, 30 pounds and our cancer risk goes down. Liz is perfect. I know. Kidding. But doctor good stuff. This is serious. Everyone out there lose weight get on that it tread mel, eat a better diet Fruit Vegetable and nuts please and fish. The diet begins now. Now this, nothing you do or say will ever go away certainly not in this digital era. And it could come back to bite you. Especially in politics now were seeing that on the National Stage right now, my take on that, next. Stuart did you do anything 20 or 30 years ago that makes you cringe now . And if what you did is revealed now, what penalty should you pay . Good questions and very relevant at this weeks extraordinary political developments. The governor of virginia chronically embarrassed by a racially charged photo that appeared on his yearbook page 30 years ago. Strangely, there was no embarrassment about his approval of infanticide but thats for another discussion. Then the Lieutenant Governor of virginia had to answer Sexual Assault allegations from 15 years ago. Then virginias attorney general revealed he had appeared in blackface in 1980 when he was 19. The states top three leaders caught in scandal from their youth. What should be done with them . Now theres joy behar, the rabid antitrumper on the view. Decades ago she had darkened her face and appeared as a beautiful african woman at a halloween party. What should be done with her . And senator Elizabeth Warrens tortured past has come back to haunt her. In 1986, on a Registration Form for the texas bar, she stated her race handwritten, american indian. She is not a native american. There may be other documents that demonstrate what amounts to cultural appropriation. Senator warren was widely expected to launch her president ial bid saturday. Will she . After this . I dont have answers to the questions i have raised. I dont know what should be done with people who did embarrassing, shameful, awful things a long time ago. But i do know this. In the digital era, everything you do, say or write will never go away and will almost certainly resurface many years from now when your behavior may be viewed in a very different light. The second hour of Varney Company is about to begin. Stuart well, 10 00 eastern time, that means mortgage rates. Ashley im all ready to go. They came in this week, 4. 41 . It is continuing to drop. It was 4. 46 . The lowest level, by the way, in ten months. This is good for people wanting to get into the Housing Market, especially we can get past winter. Once we get into spring, the Housing Market picks up, of course, and with the low Interest Rates it may open possibilities for people. Stuart this is the 30year fixed rate loan, classic ashley 4. 41 . Stuart your Monthly Payments never change for 30 years. Ashley unbelievable. Its a beautiful thing. Stuart its a beautiful thing. Lets have a look at some individual stocks that are in the news and moving. First up, boeing. Wheres that after hitting alltime highs for two days in a row, its down just a buck, 407 on boeing. Chipotle, that stock still up big today. The new ceo there really turning things around. The stock is up 13 , 71 higher. Chipotle is closing in on 600 a share. Twitter down big, despite record revenue. Theyre spending a lot of money and investors dont care for that. That thing is down nearly 10 . Big tech names, you have to check them. Thats where the money is. Big tech today is all down. Facebook, 168. Amazon, 1610. Apple, 172. Alphabet, 1103. Microsoft, 105. All down. Back to my editorial on the Political Drama in virginia, and elsewhere. Come in, tammy bruce, independent womens voice president and fox news contributor. Good morning. Stuart good morning, good morning. I dont think we have worked out how to react to scandal 20, 30 years ago when it surfaces now. What do we do with the people involved . Because whats happening now i dont think is organic, right. Youve got a Political Party that has weaponized this particular kind of issue so before, you think well, what were you doing in high school and was it dumb to do something in college, but now you have as we have seen with the democrats versus the republicans, any dynamic involving race or any other issue that uses a weapon then becomes politicized, becomes effectively something to use against someone. I think it is also a reflection of the issue of transparency. So with the democrats as an example, they have created this environment to some degree but then they also campaign on, like with the last campaign for Governor Northam as an example, used the issue of race and accused others of racism. So when we see certain behavior that was not discussed but then you see them standing against it now, there becomes a question about legitimacy or seriousness and whether or not they are hypocritical and fair. Stuart there are several different standards here. Yes, there are. Stuart joy behar darkens her face, appears as a beautiful african woman, i doubt very much she will have to resign or leave the view whereas mr. Northam, governor of virginia, maybe was or was not in blackface in a racist picture. He may have to go. Yeah. But see, theres also people say look, if all of these people were conservatives or republicans, there would be no question. Stuart gone. Youre gone. There would be no questions. This is where the American People are looking at this and thinking wait a minute, why is this political, there are genuine issues at stake here about how individuals feel, the nature of the mocking of africanamericans and the history of blackface and all of that, so this is what i think we are getting a little tired of is the and the inappropriateness of it being used as a weapon when it can be and should be a legitimate issue that we can all trust and understand in the conversation. Same with Sexual Harassment and the path that for so long, say Harvey Weinstein and others, if you are on a certain side, no one notices or looks and you abandon the issue and abandon women, then on the other hand, it is only applied to certain kinds of people, that only certain women are to be believed and only certain people are to be held accountable for certain kinds of actions. Americans want consistency and fairness and due process. Stuart well said. I have Something Else for you. I want to check the market first of all. Down nearly 200 points as we speak. In my opinion there are some problems over in europe. They are going into recession, the central bank has no tools to deal with it. I think thats part of our problem over here. Gary kaltbaum, kaltbaum Capital Management president , what do you say . Do you think this european problem is now this morning our problem . Correctamundo. This has been going on for months now and i do think it is a worrisome sign. I have been saying for awhile they still have negative Interest Rates over there. They were supposed to stop printing money and theyre not. And theres no ammo left and i do believe germany contracted last quarter, italy is in big trouble with debt and i think other areas there, the uk is topping out also. That is a worry. What happens over there does affect what happens over here. Something to watch, especially with asia not doing so well. Stuart what do we do if we slow down dramatically, we heard towards recession im not suggesting this is going to happen. When it happens, it will happen at some point, do we have any tools left in the Federal Reserve box to fix this . It can lower rates again and i think whats helped our markets in the last few weeks is our central bank doing a 180 and basically stating we can lower rates as well as raise rates. I think thats back on the table and thats what helped markets. But i must tell you, throughout this fiveweek, sixweek rally, im looking at earnings, earnings are not that great. Guidance is not that great. Im seeing some stocks go up on bad guidance. I dont know if that can last. So im watching closely. On this show january 4th, i came off my bearish stance. Today im not necessarily back on my bearish stance but i think we are probably hitting a wall here and i think the upside will be very limited at least for the next few weeks. Stuart is Gary Kaltbaum ambivalent on the markets . Im quite neutral to a little bit on the negative side right now. Stuart okay. I can understand that. Gary, thank you very much indeed. Very sorry to keep it short. No problem, stu. Stuart tammy bruce, i want to discuss her headline from the Washington Times which reads the democrats green new hoax. Yeah. Little bit of a play on the Green New Deal, right . This is i dont know if this is a scoop, but representative ocasiocortez has put a resolution out with a broad outline of what this deal is supposed to be but what it reveals is it doesnt exist. This is something 70 Top Democrats have signed on to, have endorsed, but there are no real specifics. Its an idea and i contend in my column that this is really get out the vote effort. Her resolution to gain support, very broadbased in things like we need to create access to nature and you know, end the carbon based society with no specifics. No policy. Stuart the deal is that you finish using fossil fuels in ten years, you spend trillions of government money to go super all green, you give a guaranteed job for everybody and you tax the rich out of existence. Yeah, and its more than that. She also mentions in this resolution, this letter to her colleagues, she doesnt use the word reparations specifically but its about stopping current unfairness in society and now and in the future, its a lot of platitudes, its like a wish list. The only thing missing is a unicorn. Whats interesting, i think its important for the democratic base, republicans know what its like to be misled and i think the democrats, especially young democrats, realize and should know and because they will be disappointed that right now they are being misled about the intentions of what the democrats will accomplish whand what they intend to do. Stuart sharpedged tammy bruce. Thank you. Love it. Big hour coming up. Its thursday. Still one of my favorite moments from the state of the union is when the president declared that socialism has no place in america. I got up and cheered. I imagine larry kudlow did the same. He will be with me later this hour. I also want to know what his thoughts are on the democrats inability to applaud economic success. Kudlow is coming up. We have been following the gaming revolution on the show. Multibillion dollar business. Now all the game makers are getting slammed because they missed out on fortnite, biggest game of them all. Plus, did you know israel is one of the biggest hubs for cybersecurity. They are real good at it. One company is betting millions to bring it here to new york city. Youre watching the second hour of Varney Company. Obvious. Sometimes, they just drop in. Cme group can help you navigate risks and capture opportunities. We enable you to reach Global Markets and drive forward with broader possibilities. Cme group how the world advances. Stuart we started way down, we have come back a bit. I have no clue how we are going to close but right now, the dow is down a half percentage point, thats 138 points. 25,200 is the level. Check yum, the parent of kfc, taco bell, pizza hut. Profit down, revenue fell short. Its down only 1 on yum brands. How about dunkin . Love their coffee. Sales fell short. The stock down over 3 . How about grubb hub, food delivery service. Profits missed, however active diners up 22 . That doesnt count there. They are down 18 on that stock. Thats a big drop. The gaming industry, we cover it a lot because its expanding dramatically. Electronic arts and take two, both video game makers, both reported disappointing profits and both of them have been slammed. In part, this is because of the rise of fortnite, the all conquering game. John wang with us again. Okay. Have i got this right, fortnite is huge, is free, and that really hurts the other game makers who charge for their game. Is that it . Simple as that . Yeah, absolutely. We always talk about the revenues for fortnite and it again rated over 4 billion last year. Because the game was so wildly successful its been eating into the profits of every other video game developer that is not like ten cent. Its interesting, the stocks have plummeted and fortnite is definitely a big reason for it but there is also another reason as well and its because the competition in the video Game Industry has become so fierce now that its getting to the point where its paralleling the Entertainment Industry, where he who has the highest Quality Content is king. And if you think about the implications of that, that means that Video Game Developers have to spend more money into their development cycles, which leads to increasing costs but that doesnt always translate into higher revenues. Stuart as i understand it, a lot of people are spending so much time on fortnite theyre not watching, say, youtube, a unit of google alphabet. Is that accurate . Yeah. Fortnite is such a beast, it doesnt affect just the gaming industry, it actually affects the Entertainment Industry in general. It cuts into the revenue of netflix as well as hbo because the reality is that the gaming industry and Entertainment Industries are both markets that involve peoples time. You only have 24 hours in the day to actually accomplish things. Stuart this is true. I think you spend a lot of hours during your day doing this. Okay. Would you just look down the road for us for a second . What kind of new video games are going to come on the scene . I ask the question because look, i dont know much about the video game business but seems to me a lot of them are shoot em ups, military kind of things, or a world that you get into and create your own world. Is there something brand new thats really different coming down the pike . Well, this is the thing. Because fortnite has been so insanely successful, the battle r royale genre has exploded. Thats one of the things you can expect to see this year. There was a new game that came out recently for ea. Its actually doing surprisingly well given very little marketing called apex legends. Its a game thats a Battle Royale type of game and this genre will really get tacked on to other games that will come out this year. In terms of other big titles, expect to see mortal combat 11, a very gory fighting game franchise that will sell very well. Theres a long history behind it. There is also some games that may or may not come out toward the end of the year that will be pretty big but in general, when it comes to ea, they have a very big game coming up called anthem. That will be their marquee product for the First Quarter of this year. They really need something to hit well because their stocks have not been doing particularly well. Stuart i have 20 seconds left. Can you tell me if there is such a thing as a romance based, a romantic video game . Is there such a thing . A romantic based video game . Stuart no . In some games, for a game as violent as mortal combat, the last version held a very cute take about a family reuniting, believe it or not. Stuart thats all you got. Always a pleasure. Thank you, sir. Appreciate it. Thank you. Stuart now this. We could be getting closer to a deal, Border Security funding. Democrats are considering at least money for barriers on the border. If they were to get a deal, would that deal get 60 votes in the senate . In the next hour, we will talk to two prominent senators, portman and cassidy, on that subject. The dow industrials down 150,. 6 . Well be back with more. This isnt just any moving day. This is moving day with the best inhome wifi experience and millions of wifi hotspots to help you stay connected. And this is moving day with Reliable Service appointments in a twohour window so youre up and running in no time. Show me decorating shows. This is staying connected with xfinity to make moving. Simple. Easy. Awesome. Stay connected while you move with the best wifi experience and twohour appointment windows. Click, call or visit a store today. Stuart tapestry, maker of high end shoes, handbags, missed the mark on profits, down 17 . Update on venezuela. President maduro has blocked a bridge on the countrys border with colombia. Tell me more. Liz they are using shipping containers, tankers, hes deploying the military to block humanitarian aid, food aid, nutritional biscuits. Juan guaido is saying hundreds of thousands of people will starve if they dont get this food immediately. Stuart foods on the border. Liz maduro wont let it in. Hes starving his own people. Hes saying this is a cover for a u. S. Coup. Stuart okay. What is security guy john bolton saying . I think hes trying to hive off the military guys. Liz thats correct. Hes saying any venezuelan senior military officer, if you stand up for democracy and recognize the Constitutional Government of president juan guaido, you will not face u. S. Sanctions. So maduro is firing back, is john bolton now venezuelas military chief. Youre right. The game is the military. The more countries recognize juan guaido, the more the military will peel off, and the more the suffocation of the oil sector in venezuela occurs, less cash will go to that military. Stuart it hasnt happened yet but we are hearing reports one by one, they are starting to defect to the opposition but there has to get that point of capitulation. Thats when the whole deck of cards comes down. Lou thats right. Stuart thats the news im waiting for. Now this. President trump says socialism has no place in america. Alexandria ocasiocortez responds to that, saying trump is scared. I dont think so. I imagine larry kudlow agrees with me on this one, too. Hes going to join me in just a moment. Remember when president obama said trump would need a magic wand to bring back manufacturing jobs . Well, trump says his administration has added 600,000 of those jobs. I dont see no magic wand. We will give you the story in a moment. Driverless cars. All ground personnel please clear the hangar. Trips to mars. 4. 95. Hydroponic farms. Robotic arms. 4. 95. Delivery drones or the latest phones. No matter what you trade, at fidelity its just 4. 95 per online u. S. Equity trade. Stuart its Getting Better all the time. I want to play early beatles. Paul was upbeat, lively. Thats what i want on the show. Liz this is Getting Better all the time. Thats upbeat. Stuart check the big board, why dont we. The dow, oh, we are coming back. Ashley we are, see . Stuart only down 90 points, one third of 1 . 25,300 right there, straight at it. Big tech names, apple down, amazon, facebook, alphabet, microsoft, all of them down. Not by much, but all of them on the down side. Big bank merger. Sun trust and bb t are merging in a 66 billion all stock deal. Both stocks up. Facebook are going to award bonuses to employees who do social good. Ashley oh, yeah . Stuart how do you decide what is social good . Liz i think zuckerberg wants to purposely put us all into a diabetic coma with these kinds of stories. I dont know how you define social good. Im looking at it, studying it. Is it going to be on election interference, stopping that, Building Products that improve peoples lives. Ashley stuart and i rolling our eyes. Liz facebook is under multiple investigations. Stuart lets suppose i came out and said i think these late term abortions are absolutely unconscionable. Liz you would be blocked. Stuart i think its a form of infanticide. Should that be rewarded as a social good because im doing some good for somebody . Liz you might be blocked on facebook. Ashley you definitely would. Liz are they going to attack fake news or hate speech . Stuart i think we should have a whopping great big tax cut for everybody on the ground because that would restore prosperity. Ashley that would be social good. Stuart everybody gets a job. Ashley that would be good. Stuart would i get a bonus for that . No. Absolutely not. But i like it. Where does this leave us . Liz the context is facebook still faces federal and state investigations for all sorts of bad behavior. Stuart right. Okay. They are censors. Thats what they are. Ashley gate keepers. Stuart they dont like me, they dont like conservatives. They are censors, thats all it is. Liz this is a fun segment. Thank you for that clarity. Stuart feel better now . Say it again . I have just been told to shut up and move on. Okay, okay, okay. Big moves from twitter and chipotle. I want to see that, please. These are two stocks that have been beaten down. Ashley they have. Stuart start with chipotle, really bouncing. Look at that. 600 a share, up 75. Lets deal with this for a second. Chipotle, what have they done right . Liz what they are doing right is being a fast food Burrito Company and being what they are. In other words, the stock has retraced its food borne illness losses. Remember all the platitudes, we will lead the industry in food safety but the e. Coli problems continued . They really ramped up online ordering and mastered food delivery, hooking up with door dash, is mixing up the menu, putting bacon and mexican chocolate milkshakes. That sounds fabulous. Hes being what it is. A fast food Burrito Company. Stuart online ordering really is growing rapidly. Im totally out of touch. Obviously completely out of touch. Have you ever on your mobile, have you ever preordered something . Liz no. Stuart gone in and picked it up . Have you ever done that . Ashley never. But im probably not the right age group. Liz neither am i. Stuart look who im asking. Do we have mr. Kudlow with us . Not yet . Okay. Look at the big board for a moment, please. We were down close to 200 points not that many minutes ago. We are coming back bigtime. Now we are down 87 points. Thats one third of 1 . We are back to 25,300, down 89 as we speak. I have got to say the technology stocks, almost all of them are down today. The big techs especially. Liz nasdaq went into correction. We are still like around 1,000 points off of our alltime highs for the dow. Stuart hes here. Back to the state of the Union Message. Heres what President Trump said about the rise of socialism. Roll tape. Here in the United States, we are alarmed by the new calls to adopt socialism in our country. Tonight, we renew our resolve that america will never be a socialist country. Stuart i like to lay red meat on the table for my friend, larry kudlow, who is also National Economic council director. Larry, when i heard the president say that, i stood up and cheered. Thats what im all about. I guess you did, too. Go at it, please. Absolutely. I just think it was great that he dealt with that issue headon. Many of us have suggested to him that we should Say Something about all these crazy antigrowth, antiincentive, antibusiness, antireward policies coming out of the opposition party, and we should have a generic statement at a minimum. There you have it, regarding socialism. I want to carry that forward. You know, you and i have talked about this awhile back, but i want to raise this issue. One of the great things President Trump has done in a relatively short period of time but he started right off the bat, his policies basically ended the war on business, and the Prior Administration was conducting a war on business. Not only in terms of overregulation and taxing, which is bad enough, but in terms of attitudes. You know, what you say about businesses and i dont want to go deep into the partisanship here. Thats not my intent. But what im saying is i believe President Trump really changed the whole psychology of large and Small Business men and women, and that thats one of the reasons his plan has paid off and that were growing above 3 which as you know, virtually nobody thought would be possible. So i think the psychology here is so important, hence the statement he makes on socialism is another reassurance that we will not go down that path and that we, america, have always been, we have always been a nation of entrepreneurs who thrive from freedom and growth. Stuart thats why when the president spoke about the economic miracle, the democrats could not respond positively because they are still the antibusiness party and i think they are the socialist party. I dont think im going too far there. Their leading lights all want a degree of Government Control over all aspects of your life and they all want a degree of taking, seizing private property. I think they are the socialist party of america. Am i going too far . Well, look it, no, not really. I certainly wouldnt argue against it. I would just say this. You know, you can have we used to have a term, what was our term, way back when in the good old days when we were fighting soviet communism, i think there was a term called creeping socialism. Remember that, creeping socialism . Stuart i do. I do. Your point is well taken in that respect. I mean, i was just going through this morning, no private Health Insurance, medicare for all, this Green New Deal in ten years, we are going to be completely carbonneutral which would really destroy entire chunks of the economy, big tax increases, government telling businesses how to invest and where to invest and so forth, and the tax story, oh, they dont pay their fair share so, i love this, the top 1 , the top 1 pay 39 of the taxes, top 5 , 60 of the taxes. The top 10 pay 70 and the top 25 pay 87 of the taxes. 87 . The top 1 actually pay more than the bottom 90 . This business about not paying their of course its successful men and women in business who pay the taxes in this country, but the key point, let me come back, we do not want to blunt incentives. We want to reward success. We do not want to have prosperity killing, job killing, incentive killing policies and we want to make it clear that the war on business, the war on energy, the war on entrepreneurs, is over. Thats what we have to make absolutely clear. That was President Trumps great contribution to the psychology. The whole atmosphere has changed. We must not roll that back. Must not. Stuart i do need to talk to you about europe. Looks like theyre heading towards recession. Some European Countries are in recession. And they are heading towards that downturn even though they have still got negative Interest Rates and have printed up a storm, trillions of euros. I put it to you, larry. They dont have any tools left in their central bank box to fix what is a growing problem. Theyre in trouble. Well, yeah, the numbers are very disappointing. I dont know if its all in recession but i think their growth is probably hovering around 1 . I agree with your major point. Money printing, money printing is not the solution. We should have learned that. We should have learned it 40 years ago but we are always learning it. In the last ten years, we see money printing heres what matters. Heres what matters. The levers that drive Economic Growth are tax levers and regulatory levers, incentives to work, invest, save, take risks, take a rip at the ball because we will not punish success, so i wish my european friends and we talk to them every day because we are trying to work through some important trade deals, they really ought to take a look at their whole tax structure, stu. I dont see articles about this in the paper. They should be dropping their Corporate Tax rate but they have a vat tax, they have an income tax, they have high payroll taxes. They should be doing that and i think they should take deregulatory measures. Its not money printing as you argue, and i agree, they should go the fiscal side. Thats the lever that really affects Economic Growth. You are quite right. Stuart they have to go bust first before they turn to the real solution to the problem. If there were a meeting even announced of a meeting between President Trump and xi jinping, i think the market would go up significantly because you dont have a meeting about trade at a summit level and walk away with no deal whatsoever. Can you give us any news on the likelihood or possibility of a trump xi jinping meeting . Well, look, the president has said looking down the road that that is a likely meeting. No date has been set, no time, no place, no nothing at the moment. But he has said it is likely that that meeting will take place and i might add, the president has indicated that hes optimistic with respect to a potential china trade deal. But, but but but but, weve got a pretty sizeable distance to go here to quote a colleague of mine. We have miles to go before we sleep. That was a joke. Anyway, the point is, mr. Mnuchin and mr. Lighthizer are going to china next week to continue the discussions that we had last week, and those discussions, as ive said, had a good vibe to them and we covered a tremendous amount of ground and all the major issues, the technology issues, the ownership issues, especially, especially, especially the evaluation issues, how do you confirm how do we judge whether the chinese are playing by the rules, so all of those things were on the table and discussed in some detail. I think those conversations are going to continue. Stuart am i right in saying that now they are putting it down on paper . They seem to have a verbal agreement, a conversational agreement when the chinese vice premier appeared with the president at the white house. Are they now going to beijing, mr. Mnuchin and lighthizer, are they going to put it on paper, to thrash it out on paper, which would be a prelude to a xi jinping trump summit . Well, its a good thought. Its a good question. I dont want to get ahead of the story. When those two gentlemen, they are very experienced folks, when they get there, well see. At the moment we have not had the papering of any of these discussions. So as i say, they are going to be probing and continuing conversations. I come back to the theme of enforcement. Ambassador lighthizer talked to me at some depth. Thats really going to be very important and all the other socalled technological structural issues and dont forget the commodity issues are there. We dont want to set targets or targets havent been set but tariff and nontariff areas, for heavens sakes, if the chinese let us export, we will export a ton, a ton, or ten tons or 20 tons of anything. We are the most competitive economy in the world. By the way, vice premier liu he did acknowledge american beef and steak is far superior to chinese beef. I was in beijing last may and had a chinese beef experience and i want to confirm that american beef is vastly superior to chinese steak and therefore, they should open the door, drop all tariffs and we will sell them tons and tons of cattle, absolutely cattle. Stuart i just think you moved the Cattle Market substantially. Im telling you. I wanted to get that out. It hasnt had enough exposure. Thats what the vice premier said. Im just quoting him. That was in the meeting. My jaw dropped. I dont eat steak that much. Im more fish and chicken. Steak is very important. Stuart i thought for a second you were going to say fish and chips. I just thought you were going to say that. In your honor, stuart. Stuart im american, larry. Come on. You are more american than the rest of us. Stuart i thake that as a compliment. Im out of time but thank you very much for being with us. Appreciate it very much. Thank you. When we went into that interview, the dow was down 89. At the end of it we are down 117. I hope the interview did not have an impact on the market. Thanks to mr. Kudlow for showing up for us. Appreciate that. President trump talked about the Manufacturing Sector during his state of the Union Address. Lets roll that tape, too. We have created 5. 3 million new jobs and importantly, added 600,000 new manufacturing jobs, something which almost everyone said was impossible to do, but the fact is, we are just Getting Started. Stuart come on, National Association of manufacturers president and ceo. Good morning. Stuart good morning to you. 600,000 new jobs, says the president , manufacturing jobs, says the president. Can you confirm that . I can tell you the president is exactly right. Manufacturers are very optimistic. In fact, over the course of the last year, we have had our highest level of optimism throughout our quarterly surveys at the n. A. M. Than we have had in the last 20 years. A lot of that is because of exactly what larry said, just a few minutes ago. The Business Environment is very certain and very strong because of tax reform and regulatory certainty. Thats what manufacturers respond to. Stuart jay, when i think of manufacturing jobs, i think of the assembly line. But is that a way manufacturing jobs come down these days . Is that what a manufacturing job is these days . Thats part of it. Stuart whats the rest of it . You think about also jobs that some might associate with technology or you think of the pharmaceutical sector. Every Prescription Drug that is produced is actually manufactured in the United States. I was getting a kick out of larrys note about cattle. Some of our largest manufacturers in this country are food and beverage manufacturers, so you think about all the things that are made in this country, thats what manufacturing is all about. Stuart now, i know we have got a favorable tax situation, favorable regulatory situation. I also think, im told that we have very favorable energy prices. The price of electricity which is really fundamental to manufacturing, a major part of the cost, is much cheaper here than it is, say, in germany, europe, japan. Is that accurate . Its very much affordable in the United States now. A lot of that is because of new technologies that have been enabled through research and development of Energy Companies here in the United States. Think about, think about our supply of natural gas which just ten years ago, if we would have been having this conversation, we would have been lamenting the incredibly high cost of natural gas and of course, manufacturers use onethird of the Nations Energy supply. That is not the case today and in fact, we are poised to become a net exporter of energy in the United States for the first time i think in my lifetime, and i think that is an incredible story of success for the United States. Stuart jay timmons, thank you very much indeed for sharing that story with us today. We do appreciate it, sir. Thanks, stuart. Stuart now this. Did you know israel is one of the biggest hubs and most important hubs for cybersecurity . They are good at it. One company is betting a lot of money bringing those skills here, actually to new york city. Got the story for you. This an outrageous story. Next hour, i will talk to the rncs kayleigh mcinerney. She posted a picture of senator Elizabeth Warrens application to the texas bar, the one where she identified herself as american indian. Instagram took it down, said it was harassment. How about that . We will take you through that story. Oh, yes, we will. This is loma linda, a place with one of the highest life expectancies in the country. You see so many people Walking Around here in their hundreds. So how do you stay financially well for all those extra years . Well, you have to start planning as early as possible. We all need to plan, for 18 years or more, of retirement. I dont have a whole lot saved up, but im working on it now. I will do whatever i need to do. Plan your Financial Life with prudential. Bring your challenges. Stuart white house adviser larry kudlow says there is a pretty sizeable distance to go in u. S. china trade talks. He said that to us literally five minutes ago. When he said it, the dow was down 90. After he said it, the dow plunged and were now down 207. I think larry kudlow moved the markets. Now to israel. You might not know this, but that country is big into technology and cybersecurity in particular. Our guest is trying to bring Israeli Tech Companies here to new york city. He is jerusalem Venture Partners founder and chairman. Now, jerusalem Venture Partners, thats a fund. You bring the money together and then you invest in Startup Companies like in cybersecurity, that correct . Right. We created a national hub for cybersecurity in israel and in jerusalem, and now because of the nature of whats going on around the world, banks, insurance companies, finance, media companies, health care, everything needs protection. New york is the Business Center of the world, and now together with israel, if it wants to give the west coast a run for its money, it needs to become the cybersecurity hub of the world as well, together with columbia university, cornell, nyu and cuny. We are creating a big hub downtown and would love young people to be involved. Stuart you got a building . Weve got a building on broadway stuart it is a hub. Yes. Yes. Stuart the hub is there. Its the first step. A lot of israeli companies, lot of west coast companies, lot of European Companies are coming here because thats where you need to solve the big business problems. If you are going to put your personal identity on biometrics on the web, you want to know that you are protected because the threats this year were about 600 billion around the world. Stuart and you are putting money into Startup Companies in new york city. Thats what your fund does . Exactly. We are creating a big hub for starting companies stuart tell me, how good is israeli cybersecurity . Well, you know stuart dont be afraid to boast. I want to know. I dont like to boast. I just want to say when you have smart young dynamic people, you give them and you create a company and its worth 10 million and then a few billion, you make a nice return. Stuart yes, you do. So are you the best in the world, are israeli guys the best in the world at cybersecurity . We are proud to be partners with americans. I think that together, we are building great things. By the way stuart you are not answering the question. No, were good. Stuart are you the guys who got inside Irans Nuclear plant you want me to be able to go to my country . I will tell you this. Cybersecuritys a Serious Business. You speak about iran, the regime has 11 companies attacking the United States, europe and others on infrastructure, on health care, on finance, on everything. So this is a Serious Business of government sponsored attacks, and anybody who thinks its just in the cyberworld, think again. It could affect our flights, could affect our health care system. It was an attack that was here on a dam that could flood, it could affect anything that is physical as well as virtual. If businesses are going to be moving to the digital age, a lot of the traditional businesses, then it needs to be protected so that our lives can be secure, and if new york wants to give a run for the money to San Francisco and i know you meant that, it needs to partner with israel because San Francisco is the u. S. Technology center. New york and israel can create the International Technology center. Stuart welcome to new york. We can use your help. You are best in the world. Jerusalem Venture Partners. Thank you, sir. The battle lines, theyre drawn. 2020 will be about, in my opinion, capitalism versus socialism. My take on that, top of the next hour. Incomparable design makes it beautiful. State of the Art Technology makes it brilliant. The lexus nx, experience the crossover in its most visionary form. Experience amazing at your lexus dealer. President trump said it very clearly, america will never be a socialist country. He was pointed out that the democrats are now leading so far to the left that they have become a socialist party. He thinks he will beat them and save the country from a disastrous far left turn. To be clear, the leading lights of the Democratic Party are indeed pushing socialist ideas. Lets not get bogged down in venezuelan socialism versus european socialism. Policies now being pushed by the democrats are based on Government Control of all aspects of your life and appropriations that is the seizures of private property. They would abolish capitalism as we know it. We have laid up the massive tax hikes demanded by some candidates. This is socialist style legal theft. Income tax rate 70 or higher. Even an extra Social Security tax on high incomes. Just take it off. Youll hear the rich dont need that money, thats the kind of thing that socialist actually say. Move on to medicare for all proposal, that is a socialist power grab. Private Health Insurance will be replaced, banned by a vast government bureaucracy that would decide the drugs to be used in the treatment to be offered. Even the pay that doctors would receive. The socialists want the power that socialized medicine gives them. Move on to the control of business. Senator worn demand that you get an license to operate and you dont get that license unless you run the company the way the socialists want. How about the Green New Deal . In ten years, no more oil gas or coal, trillions in new taxes and a guaranteed job for everybody. How do we get there . Alexandria ocasiocortez wants a select committee for Green New Deal. As the wall street journal says, thats like a soviet five year plan. Twentytwo months until the next president ial election and the lines are being drawn. Its capitalism, trump versus socialism, democrats. The only way is if joe biden wins in runs and wins the domination. The third hour is about to beg begin. Im calming down, but i do believe the 2020 races boiling down to capitalism versus socialism. Rnc spokesperson is with us. I want you with this first, am i right . Your exactly right. When they hold democrats, democrats say 60 have a positive view of socialism. These radical proposals they used to just be bernie sponsors the proposals was zero sponsors now the entire democratic field sponsors that. I want to get to your story. You posted a picture of senator Elizabeth Warrens texas bar card. You posted on instagram. The actual card was not photoshop. Instagram took it down. Simply because that document it said, Elizabeth Warren, indian, american indian. She had hand written that. Instagram took it down on the grounds that what . You are harassing them . According to them i bullied, blackmailed. I need to get the instagram response. We incorrectly remove this image for including personal information, in this case the home address of someone else which is not allowed on instagram. A secondary review we confirmed the image include an Office Address and not a personal home address. The content has been restored and we apologize for the mistake. Do you accept that explanation and apology . What i want to know is was this an automated sensor of what i put out there or human being that decided to censor what was a massive new story. Washington post reported, this image was everywhere. When i put it on instagram, its removed. I accept the apology, but we need more answers. Did they say why theyre taking it down. Nothing other than i had bullied, harassed or bullied Elizabeth Warren. Until i said i want accepted again they said i wasnt allowed on instagram. The algorithm can it distinguish between an Office Address and home address . Sounds like that was a judgment call. It does sound like it. You cant prove it. It sounds like censorship of even mildly conservative you. We have seen this broadly, not just on instagram, twitter, shadow band, other conservatives, what i feel badly is conservatives who dont have a platform or Party Apparatus to stand up and dont have a means to fight it. Thank you for joining us. Great story. Were glad youre back. Stuart check out the big board. The low of the day, white house advisor, or larry kudlow said about 20 minutes ago, theres a sizable distance to go in u. S. China trade talks. As soon as you said that, the market headed south an hour down to 33. The s p 500 is down 1 . Thats a bigger decline than the dow. How about the nasdaq . It is down 1. 1 , an even bigger decline. So, larry move the market. How about the come back kids that would be twitter and chipotle . Both have come back strongly from recent losses, except twitter which is down three today following disappointing earnings reports where they said theyre spending a lot of money. Chipotle, all the way back up, 74. 600 per share. The ceo appears to be doing a great makeover. How about square . Im not sure what that is . I know it is, its the mobile payment venture from twitters chief, jack dorsey. A mobile payment operation. Right now the stock is down 1 . Scott martin is with us. Fox news contributor, but, he likes square. Are you telling our audience to buy it . Yes. We own square, love the payment processors. You nailed that description. We like square and paypal, lets face it, cash is 2017. Square, the paypal had a good year. I think this will be another good year for the payment process. Reporter do you like it because of the jack dorsey connection . Originally, yes. That was a good reason to invest. Jack has good ideas aside from twitter, today. If you just look at the growth that square seen in the permeation into businesses, theres a lot of growth ahead. Stuart you also like in video. That company went straight up and then straight down. Is down to 148. I remember it well over 200 a share. You like it . You gonna buy it . We do. We own it. Your point, this is a stock well above 200 months ago. He got trashed and then certainly still has a good business. If you look at a company that is still struggling to find it sea legs and attack rally, i think that is it. Stuart one more you like, why do you like them . Back to the comment on cash. Lisa has a great domestic business. Internationally is growing well. Not so much like a mastercard bast on evaluation. Visa has a better scenario going for. We own visa, also. Stuart square, nvidia, visa, thank you very much. Will check up later and see how you do. President trump is going to bar and storm force of order order wall. Hes going to texas on monday, maybe working. Were seeing possible compromise from the democrats. If there is a deal can they get the 60 vote they need to build the wall . With the rising popularity of socialism policies from the far left seems like capitalism is posing a serious challenge for the first time. Were talking to special reports brett bear on that. This is the third hour of the varney co. What . Its a sensible gift. Protection for you and your family, nationwide has all the tools to help you find the right coverage. Tiny baby shoes. So close. peyton makes no sense. Babies cant even walk. Should have been a Life Insurance policy. Plus it would have been a great song. Think about it, the lyrics, the beneficiaries. Brad, where are you going . Stuart i think it larry kudlow on this program a few minutes ago may have blue the markets. Hes the white house advisor and said literally, there is a pretty sizable distance to go in u. S. China trade talks. When he said that, the market headed south. Now were down to 50 points. We have a story that hasnt been picked up by other channels. South carolina residents are about to pick up the tab for 9 billiondollar hole that was doug just to be filled back in. It was supposed to be a Nuclear Reactor site. Thanks to poor leadership and mishandling of Government Funds the project was scrapped. Now this, President Trump barnstorming for his border wall. Hes headed to el paso, texas and holding a rally there on monday. Come on in senator rob portman of ohio. We have got some news that may be a compromise in that Bipartisan Committee is looking at funding for a border wall. If we get a deal, compromise deal, do you think we get 60 votes in the senate to actually get the wall built . I do. I dont think youre that far apart, nor have we been. Except in rhetoric. The president s plan is a reasonable plan talking about 234 miles of additional barriers of some type. Some fencing, some are barriers for vehicles. The president said it should be done consistent with the Border Security improvement plan. Thats what democrats are asking for. The experts will decide what kind of barrier and where. Its hard to believe that we couldnt figure out a way to come up with Common Ground and move forward with better security. Stuart Speaker Pelosi is backed into a corner by his far left. It wouldnt allow will a wall or structure, fence, or any funding of any kind. You have to get over that hurdle, as well. That is part of the rhetoric. The problem is, the experts on the border say we need more structures including fencing. Second, she and others have supported it in the past. In the obama administration, the george w. Bush administration. So, this is something democrats and republicans alike have supported. It is part of a broader plan. The president also wants more technology. Of course he wants more screening at the ports of entry. He wants to help with trafficking. Today the guest speaker was an expert on trafficking. Im wearing my shine a light on trafficking in that i got. People should care about it. Its happening at the border. What the president has proposed as a comprehensive plan. My hope is, the small group of people in the Conference Committee can come up with an agreement. There we can get 60 votes or more in the senate. To think President Trump won the debate on border wall, Border Security financing in his state of the Union Message . He came on strong but with a smiley face. I think that was important. Its important to talk about a comprehensive plan. Many people didnt know about that. Its not a wall from sea to shining sea. He talked about taxes and is good that hes going to el paso. In texas there only 100 miles of fencing. Its 1200 miles of the border. Its most of the border and yet of the six or 700 miles of existing fencing, most is in california, new mexico, arizona, very little in texas. They needed there. 40 of the crossings are in the valley. The Border Patrol experts on the ground are saying, we need help here. Yes, we also need cameras, remote sensing, drones, better screening of the ports of entry, but we also need these fences to keep people from coming in and to keep the drugs out in the trafficking from being such a big problem. Stuart thank you for joining us. Lets see how it goes. Check out the big board. Were doing this because we are way down and heading further south. That is the first law of the day, down to 60 points. Just a little more than 1 as we speak. Could be that larry kudlow on this program move the market when he said theres distance to go. Check apple please. Some of your phone apps are reportedly reading your moves, every move and then setting the information back to the developer. Not much response on the stock in a down day. Apple is down 2 up 1. 72. First an estate in miami silver 50 million breaking a new record for Single Family home. As previously sold for in 2012 was sold for 47 million. Now its gone for 50. Ten bedrooms, 14 bathrooms, a hundred foot pool and cabana, and outdoor beach with pink sand imported from the bahamas. The Chicago Auto Show starts on saturday. We get a preview today. Jeff is in the supercar gallery. Well head over to him, next. I cant tell you who i am or what i witnessed, but i can tell you Liberty Mutual customized my Car Insurance so i only pay for what i need. Oh no, no, no, no, no, no, no. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. And the army taught me a lot about commitment. Which i apply to my life and my work. At comcast were commited to delivering the best experience possible, by being on time everytime. And if we are ever late, well give you a automatic twenty dollar credit. My name is antonio and im a technician at comcast. Were working to make things simple, easy and awesome. And our shirts from custom ink help bring us together. We order custom ink to welcome new employees, personalize team shirts, and even for company events. The design lab is so easy to use. We just upload out logo and if we have any questions, Customer Service is there to help. Seeing our Team Together in custom ink gear is an amazing reminder of how far weve come as a business. [narrator] custom ink has hundreds of products to help you look and feel like a team. Upload your logo or start your design today at customink. Com stuart we want to keep you in touch with the market. We headed further south for radio listeners, we are down 272. That is about 1. 1 . Then this, the Chicago Auto Show kicks off saturday. Look is there area jeff locke, looking at the supercars. This is the of the show. Thats a rollsroyce. 440,000. So then i give you the phantom, 609,000. We 12 and june. I look for a supercar van, i know you like vans. They dont have them. But, they do have an suv. That is the bentley suv. You can get into that for 165,000. What a bargain. In the lamborghini years, thats 237,000 because hundred 90 miles an hour. If youre late for soccer practice with the kids, you can go on that one. Now, perhaps folks are gathered around the lamborghini. This is 608,000, 770horsepower. Goes to 270 miles per hour. Now, i leave you with the last one. This is the bugatti, do you have any idea how much it sells for . Stuart a million. You are way off. This goes 261 miles an hour, 1400horsepower, and it sells for 3. 4 million. Stuart wow. Thank you, jeff. Give the side view there. You cant get in there and its too low. Stuart i like the lamborghini, just dont like lime green. Im sure youll be on air all day long with cars like that. Thank you. Now this, new report from several iphone apps use a firm that is tracking your activity within the apps without you knowing. Theyre watching every tap, every sweat, theyre sending it back to the developer. So much for privacy. Were talking to a market watcher investing in 5g. He said its a race between america and china. He wants america to get there first. Hell make his case on 5g, in a moment. The firstofitskind lexus ux and ux f sport, with the latest Safety System standard, bestinclass turn radius and bestinclass mpg. Experience amazing at your lexus dealer. Heading further south were down nearly 300 points. Every single one with the sole exception of walmart is down. Now, this has something to do with Larry Kudlows appearance. What exactly did he say. It was the only line i wrote down. It stuck out. Pretty sizable distance to go in trade negotiations with china. I think that was enough for the markets to go, that doesnt sound optimistic. I asked if he could give me news on the trump and chinese meeting which he cannot. Then, he followed up with this Long Distance apart. Thus to the point where the market started to decline. Now down to 94. Thats 1. 1 . Big losses in the s p, as well. Breaking news. Ford announced they will spend 1 billion on their chicago plans. That is creating 500 new jobs in the area. Theyre going to build the explorer, the lincoln navigator, and the Police Interceptor in the chicago area. The stock is not responding. They are spending a billion dollars in america. The stock is down four and half percent. How soon before we get a president ial suite on that . Stuart that news was just release seconds ago. Maybe that will disseminate make a difference for the stock price. We will see. 1 billion spent in america. Our next guest said hes investing, based on the president stated the Union Message, cumming, ben phillips. Now, the president is looking to invest in the 5g expansion. That is what you are interested in. Tell me how i can invest in 5g. I think its the next big thing. Of corsica by our policy. But, the names that were looking to invest in are some of the equipment providers. You can think nokia, ericsson, siena which is a miniature version. Then ticker why five in some cell tower companies, American Tower and crown castle. Even a verizon we like. Few different ways to play that. We like owning a basket of those stocks. Stuart at t said they got kind of 5g. They really dont. When are we going to get the real deal . 5g coming to a phone near me. Is going to take time. We have to upgrade the infrastructure. The interesting thing about 5g is that it requires more network density. You have to have nodes closer together. Theyre just starting that deployment. Thats why were constructive on a multiyear basis. 5g is happening. It has to happen. The u. S. Has to be first in the western world. We will see more push from the fcc and the trump administration, Even Congress unlocking some potential value letting that rollout happen quicker. 5g is much faster than what weve got now. A great deal more you can do with it. Am i right in saying there is some 5g in south korea . Is that accurate . There have been small rollouts. In tests in various markets across the world. There is 5g being deployed in certain areas. We will see that ramp up which is why we started allocating to 5g in october. Was there a test market in america . Im not sure of markets in america. I know there testing on a small scale. The contestant stadiums and things that im not sure if theres a Broader Market test in america yet. Theyre starting to roll out the equipment deployed employment. Is it the next big thing in technology. Is it is because the smart phone, for example. Is really an evolution. Like the 3g 4g transition. This is just the next big upgrade. Its a massive data increase as far as speed. It will cause more necessary deployment of infrastructure and wires. But particularly the rollout of the notes will be the biggest driver for the industry. I take it i need a new one of these. Im holding up an iphone. I have to get a new one when 5g comes out. Usually the phones are ahead of the rollout of the infrastructure. Good news is our phones will probably have the antennas in place well before we can access the network. Stuart come back soon. Im very interested in 5g. Im not sure what its all about. I know its a big, new thing. I want to know when its coming and how i can invest in it. Come back soon. Stuart i have iphone news for you. Several iphone apps use a firm that is tracking your activity within those apps without you knowing. Thats according to a report in techcrunch. Every tap or swipe you make in these apps is sent back to the developers. In some cases it gets your credit card information. Emily, welcome back to the show. Good to see you. Thanks for having me. Stuart how do they get away with this . I dont like this. No one should. Right now theyre getting away with it which is ridiculous. Its a Customer Service Analytics Firm that are recording your swipes. It will include credit card and banking information. In the dissemination of that info, back to the firm and then back to them, thats where not only the data is been hacked and breach but also its in the world and in the cloud. Thats where its been stored. Heres whats troubling. The privacy policies required by the iphone dont require any specificity. The Customer Service firms dont require acknowledgment in the clients privacy policies anyway. Its doing it without me knowing and without my approval. I wonder if i have an example. This morning i woke up and the message was congestion in the lincoln tunnel. Okay, how did they know that i use the lincoln tunnel to get into new york city to work . How did they know that . A lesser taking information from the google map app and then disseminating it. My setting says never disclose my location. 100 . I think the presumption is they know everything rather than the presumption that your data is being secured. At the end of last year democrats push forward a bill, the bottom line is, they are trying to hold Companies Accountable as doctors and lawyers. As with everything going on, there is no agreement with what the language should be, what the punishment should be. These bills are sitting stagnant all at the same time our elected officials are wanting Tech Companies to be at the forefront of data privacy in leading the charge. No one can really agree. My point should be the anger expressed wanting our data to start stopping harvested should be expressed were elected officials so they can legislate this. Stuart the problem is billions of people dont care. The average person in the public, that they still have a facebook account, you still use gmail and theyre reading your gmail. You still using these apps on apple phones. Theyre not going to get rid of the app. Most people except their privacy is gone. Thats a huge problem for those of us who want to restore privacy. Youre not wrong. To me its the weird eternal optimism of each human. Its weird considering were negative on the outside. If you havent been hacked, youre going to be. I dont understand why we continue to use these. But i have a ton of apps on my phones. So what am i doing . But, i will write my senator. Stuart thank you for being with us. Now, big gaming news for you. Ea think they have the game to become a fortnite, its so popular its hurting other videogame profits. The stock is on your screen, its called this new game, apex legends. It was released for free on monday. Within the first eight hours of release, the game clock more than 1 million players. He was the most watched game on twitch, popular videogame streaming site. Take two, they are down big. Not down big yesterday, back up today. In the topic weve been covering. Capitalism versus socialism. For the first time it seems capitalism has a fight on his hands. Well take that on for you. Were also watching the market. Larry kudlow moved the market on this program, today. Were now down 322 points. We will deal with it all in 90 seconds from now. Stuart we are now down over 300 points. That is one and a quarter percent. China trade appears to be the problem of the day. On this program, larry kudlow, senior Economic Advisor to the president said about an hour ago, he said, there is a long way to go in the china trade talks. Theres a big fight over intellectual property stuff. China will not stuart also concerns about global growth. The price of oil is down two bucks. Down more than 3 . I did ask mr. Kudlow about a china meeting with President Trump. He refused to commit to any kind of date for that. And down goes the markets. There you have it. Stuart we talk aboutcalifor. This next story paints a perfect picture as to why we do that. Within the past year, the state passed more than 1,000 new laws that take effect this year. Some are quite simply, ridiculous. Its now illegal to put soda on a kids menu and restaurants. Only milk and water, for them. No more plastic stress. Those are illegal. Governing for the sake of governing, thats what some people think. Back to my editorial. The 2020 president ial race will come down to trump versus the capitalist. Excuse me, trump as a capitalist versus the democrats as in socialists. Brett bear, holster special report joins us now. What you think . It seems to me for the first time capitalism will faces serious political challenge in the form of a very leftist Democrat Party. Have i got it right . I think youre right, in part. I think there be a battle in the democratic primary to see where the future of the party goes. Right now, the power, the real force is on the left, Progressive Side that come as you mentioned alexandria ocasiocortez and others, Bernie Sanders have embraced some democratic socialism. You saw the president in the state of the Union Address mentioned that this country can never become socialist. Most of the chamber stood up, not all. That will be one of the main themes for President Trump. It will be that, immigration, the economy, and likely, abortion and protecting lives. Stuart do you think abortion will play a significant role after what were seeing in virginia, for example . I think virginia is giving the president a lot of boost heading into 2020. Just that state alone and the scandals that have come out. Primarily, how it started with Governor Northam and that description of lateterm abortion in describing that bill that critics call i think you saw it this morning and the president s Prayer Breakfast comments. I think you will see more of that from this president as he has more than 70 of evangelicals supporting him. I was surprised at the democrats response when the president talked about the extraordinary strong u. S. Economy. There is no applauding, no standing up. He was a very dull response. As if theyre not buying a strong economy. I was surprised at that. I think there were a few parts of the speech that had that surprise for folks looking in. If you can say stats that are not political, that are just numbers, that dont have numbers that can be fact checked, its interesting to see that there is not enthusiasm for good numbers. Theres a political aspect to all of it. There were other parts of the speech that got criticism. Namely his pushback on investigations, that democrats have stepped up. Stuart a lot of us in the financial world were hoping the president would make an announcement of the summit with china. This morning we have reuters say that a meeting before the march 1 deadline is unlikely. We have one second. Larry kudlow also telling reporters, that meeting will take place at some point in the distant future. Stuart that really upset the markets, because the market was open for chinese and trump summit that would have some kind of handshake, smiling faces, some kind of deal. Thats why the market is down. Anything to add . This could be a little bit of the art of the deal, trying to get this to where they want it, and then announced the meeting. The hope in the plan was to do it on the back end of the summit in vietnam with kim jongun. And then to then have a meeting with the chinese president. Perhaps, the chinese have not agreed to something that the u. S. Wants desperately. This is part of that negotiating ploy to try to get it before the meeting is set up. Stuart it answers the pressures on both sides. Our market is way down. I would expect chinas market to be way down as well when it opens up. Thank you for being with us. Its a very fluid story. We will see you. Stuart another big day for your money here. Were not likely to see a trump chinese meeting before the march deadline. There is movement on border wall funding talks. Get into that but its not helping the market at all. The latest innovation from xfinity isnt just a store. Its a save more with a new kind of Wireless Network store. Its a look what your wifi can do now store. A get your questions answered by awesome experts store. Its a now theres one store that connects your life like never before store. The xfinity store is here. And its simple, easy, awesome. Stuart the president is heading to el paso, texas on monday to burn storm for the wall, or Border Security. Senator bill cassidy is with us now. Mr. Senator, we asked your collar, rob portman this question earlier. Do you have 60 votes in the senate if we get a border funding deal with the committee that is looking at it . Do we have the 60 votes, sir . Tell me what the deal is. Stuart exactly. Stuart nobody wants a shutdown. Sounds like both sides want to a barrier. We have kids coming up to be sexually traffic. There should be 60 votes for whatever would decrease that. Im hoping there will be, we have to see the deal. I think some kind of Border Security, a structure will be in there. The way things are going. Was being reported from the talks is some democrats are now okay with funding the structure. New structures. Your smiling. Democrats have always been okay with it until now. They voted for it repeatedly. They built it when they were president s. The reality is, democrats and republicans have recognized in certain areas barriers work. Stuart i want to talk about Prescription Drugs. I know thats your area. The administration wants to lower the price of Prescription Drugs. Alex cesar has been on the program saying hes going to do it. Can you actually lower the price of Prescription Drugs without price controls were interfering with private enterprise . Absolutely. One, you return markets to the way they should be. In some cases pharmaceutical companies will arbitrage laws and the use it to squeeze out competition. If you actually change the laws or implement the laws as they should be, you will lower prices through market forces. Pharmacy benefit managers perform an important function. If youre paying cash, you can pay four times with the amount would be in three force of that is a rebate. The last thing is Consumer Reports article, secret shoppers going out to get the cash price and the cash price for a group of generic ranged off the top of my head from like 49 up to 700. Thats because theres no Price Transparency. We can change that. Stuart doesnt take legislation to change it . Or rule change you can do without a vote . The rules are governing medicare maybe medicaid. But, the legislation would cover the commercial market. Im big into Price Transparency in general that would apply to perhaps your blood tests are the xray that has been ordered. Lets give the patient the power of price and let them make the decision thats good for the pocketbook and help. Prices will come down on health will be better. Stuart thats music to my ears. Im tired of paying 1400 for standard issue blood tests. Thank you for joining us. I do appreciate it. Thank you. Stuart checked down the big board. Down 336 points. One and one third . More after this. Stuart if you want to know why the dow industrials are down 357 points, i will give you two words, china trade. Give you more words. About an hour ago on this program the president s advisor on the economy, larry kudlow said, quote, there is a pretty sizable distance to go in u. S. China trade talks. That was taken as a negative and the market started to go down. Then we heard from reuters quoting two administration officials, a meeting between President Trump and xi xinping is unlikely before the march 1st deadline. Went on to say they will meet at some point in the distant future. Same word larry kudlow used, distant and distance. Liz is this angling to get a deal done, showmanship . I dont know. Stuart could be. What happens when the market goes down here, the market will go down there. You have added pressure to come up with something that looks good so you can restore your market and restore your economy. Liz tariffs kick in march 1st, 25 . Stuart that is what did it. Two items of trade news. One on this program. One from reuters. Ashley oil dropped to below 52 bucks. It is heading south. Stuart is that a factor . Ashley it affects market. Stuart neil, it is yours, stuart, no one is blaming you for this selloff. Stuart you can, if you like. Neil im getting email, way to go cavuto, nevertrumper, you getting downturn you wanted. I immediately shot back, varney started it. I had nothing to do with it. Stop writing. It is embarrassing. Thank you very much, my friend. You did it again. That larry kudlow chat you just had that lit up the markets. This is what lit them up. Take a look. The president has indicated he is optimistic with respect to potential china trade deal but, but, but, weve got pretty sizable distance to go here. Neil that is like old miles and