Transcripts For FBC Varney 20240704 : comparemela.com

Transcripts For FBC Varney 20240704

Band. Ive heard them before. Just got paid. An interesting song title, id say. Lauren we got paid yesterday. Stuart yeah, we did. [laughter] lets report that, a shall we in good morning, everyone. Its 10 00 eastern, and wed better get to the money. Not as bad as it was, the dow is down 70, nasdaq down 113. Little bit of a comeback this morning, not much. The 10year treasury yield, we have it well above no, right at, actually, 4. 24 on the 10year. The price of oil, 81 a barrel, 80 right now. Bitcoin, theres the story. Its at 26,200. This time yesterday it was 29,300, so youve had a big drop overnight which we will explain later. Thats the markets, now this. I dont think joe biden is electable. Okay, that is a bold statement. I dont care what the polls say. If its a bidenharris ticket next year, that they will lose. I dont think it will get that far. Almost on a daily basis, democrats hama maneuver to get him out before the end e of the year. Ive never seen anything like this. Podcast King Joe Rogan thinks democrats are leaking the bad news on hunter, democrats doing this, because they see it as a way to get his dad out of to the oval office. I would say all the stuff coming out slowly but surely about biden is on purpose. They want to get rid of him. I think he wants to run again, and i dont think the democrats think he can win. I think theyre right x i think theyre going to slowly but surely expose more of these, like, very clear pieces of evidence of corruption. Stuart sounds a bit like a Conspiracy Theory to me, but rogan has 12 million listeners every day. A minnesota democrats dean phillips, has launched a Public Campaign asking the president , hey, step aside. Democrats are unwilling to face the truth; that is, biden cant win. The Los Angeles Times float ifs the idea of getting Kamala Harris off the ticket by moving her to the senate seat now occupied by the ailing dianne feinstein. That is a long shot. But it speaks volumes about the desperation the democrats feel to change the ticket. And it is desperation. The president s cognitive decline seems to be speeding up, and ask we can all see it. He takes long vacations, calls an early lid very frequently and sometimes just doesnt seem to be there. And look at this. More than half believe his signature bidenomics has made things worse. The democrats are anxious because the bidenharris ticket has loser written all over it. Theres none so anxious as a Political Party heading for defeat. Think of it this way, how many voters will go for a candidate already struggling mentally and physically . Keeping him in the white house until hes 86 with a Vice President who has an even lower approval rating. Its not going to happen. The bidenharris ticket is not electable, and the democrats know it. Second hour of varney is just getting started. Stuart friday morning, that means tammy bruce is with us. This effort by the democrats to push biden aside, its gaining steam. I hear more and more about a it every day. Yes. And i think that theres something to rogans comments, because keep in mind all of in that biden has been involved in, all the bidens, has been known by various people and has been successfully kept quiet, right in the medias not moved on it, nobodys been talking about the republicans certainly havent. So for this to be coming out now seems to be a choice. And certainly i dont think the republicans, you know, theyre still gazing at their naval trying to figure out navel, trying to figure out what to do about trump the, they havent looked at. Stopping bidens destructive policies. My column today looks at the lack of empathy, right . That this is not just or circumstantial, this is a core kind of hole in someones soul. When a tragedy like the maui wildfire cant even call can it a wildfire at this point, but you dont even know what to say or you have no comment, thats not normal, and its not because of dementia or mental cognition issues or its a choice. And weve seen it throughout his decisions. That is what disturbs independents, it does disturb democrats. So it really is about the nature of corruption, but are our lives better and to do the people running this country actually like us or not. Stuart good question. Whats the mechanism by which democrats or anybody could get him out . Well, they could pressure him. Obviously, the system itself, hes got a core of people that want to stay in power, they like running the white house, so theyre maybe not interested in having this change. But and they believe because of their trump derange arement syndrome that, you know, anything, anybody could beat trump. Thats why what theyre thing, theyre thinking the, theyre underestimating him9 and the American People because were not out rioting, but they must understand that we see whats going on. You see it in the polls. The democrats dont want him to run again. But when it comes to everyone theyre as an example empathy, you dont care what other people are thinking. The impact of your policies on people whether its in afghanistan, our troops, people with inflation, food inflation or the maui devastation, it just doesnt matter. So thats joe bidens problem. Other people have to prevail, and the party has to come together and say we are rejecting you. You must step away, and if you do not, we will launch a campaign directly to move someone else ahead of you. So thats what theyve got to do, because hes not going to do it willingly, because he doesnt care about the country. He cares about himself, his personal life indicates that with his alleged corruption and, of course of course, the way hes treated this country in the last two and a half years also is an indication of that. Stuart politics are just fascinating, isnt it . How is it the worst can. Stuart politics today, nateing. How is it that the worst people have the power and are rubbing our faces in it . We can fix that. Stuart okay. I have no clue. [laughter] stuart the taciturn tammy bruce. Not quite. Good word. Stuart i just invented it. It is a great word. Stuart donald trump looking to delay his trial into the alleged election interference. Thats the d. C lauren the jack smith january 6th case. Until april of 2026. But, yeah stuart thats a long way off. Lauren exactly. Ill explain. More than two years after the government is requesting it, january 2nd of 2024, and this is why trumps team says, well, they had two years to prepare, so so we need two years to prepare if. Stuart oh, okay. Lauren thats why you get an extra two years. Stuart its a logical request. Lauren its all a mess. Stuart lets get to the markets, shall we . At this moment the markets are heading south, pretty much across the board weve got red ink. But let me introduce you to a market watcher, mark avalon, youve seen him before, and i believe mark thinks were going to get a a santa claus rally. That would be new highs for the market before with christmas. Is that what youre saying . Thats what im saying, stuart. I think were in a period of pain, but i think the markets are going to recover, and i think we go through this period of volatility and we look out past what is historically a weak part of the market, august, september, october, the worst threemonth stretch, and then we go into year end, and i think its game on and stocks will recover. Stuart what about big tech . Theyve had a dreadful pullback pretty much across the board. Are you looking for a really solid rebound . Yes, we are, and i like the pullback for people who havent been in names like apple and meta which have taken the brunt of it. Some names have held up relatively well, alphabetgoogle held up, but it also didnt run up as much. So what we think is happening is a repricing of some valuations which got a little out of hand. It was an unabated runup in june and july, and the market is looking at these high valuations against higher Interest Rates and pulling back. And better prices present better opportunities for investors. The underlying economy is still strong, and thats why we think after this rocky period things might get a little better. Stuart youre asking for a big lift though, arent you . Because it doesnt look like Interest Rates are going to just stop where they are. They could go a little higher. I keep hearing people saying were doing to get 8 mortgagings. Thats a big problem for stocks, isnt it . Yes. Is and you raise a great point because i think during that junejuly runup that we had in stocks, we were not of watching what was happening at ups, labor unions, united pilots, American Airline pilots, what uaw unions are saying. Wage pressure, Wage Inflation is real. They have a cheerleader in the white house who just thinks that more union wages are, have no net negative on the economy, but they do because then other workers are going to see those wage gains, want the same, and its going to counteract what the feds trying to do which is tame flakes. Ask thats, that is the risk, is that wage costs push inflation late 1970s, really 80s styles, stops the fed from raising rates, and that would be the headwind i would look at. Other than that, i think the underlying economy is Strong Enough to withstand some of this interim noise. Stuart well, mark, im glad youre on the show today because weve got a lot of selling, and youre looking for a santa claus rally. A nice part of the program for a day like this. Mark, well see you again soon, i hope. Thank you very much. Laurens looking at some movers, and weve got marathon digital. Lauren crypto prices are falling today and so are related stockses because bitcoin prices are cropping after the report dropping after the report that elon musks spacex sold its bitcoin stake, marathon is down 6. 6 . Stuart do i see beza homes up there . Lauren theyre also down 6 . Web bush has cut them to neutral. They keep their price target at 32. They see a lack of catalysts. Theres no supply on the market. I think that would be a catalyst for the if home builders, but home stock is up almost 140 this year stuart that says a lot. Far fetch, i think i know them lauren dont look at the prompter. Stuart. Stuart i think theyre an online luxury goods seller. Lauren the stock is down 37 , really gloomy annual sales outlook. It said retailers this is actually bad for the back half of the year, for the fall season and for christmas theyre cutting their wholesale orders. I think just dont see demand. They have all of this inventory left over the from spring and summer, so youll see good deals and not much inevent story for the new stuff inventory for the new stuff, for the new season. Stuart thats the stock market. Lets take a quick look at bitcoin. It fell 9 after elon musks Spacex Company sold or revalued its crypto stake. Is bitcoin headed for a freefall . Good question, were on it. Lawmakers call on the ftc chair to investigate youtube and its Parent Company google. A report revealed its tracking and collecting childrens data. Grady trimble has that story. A republican state senator from georgia wants to impeach the Fulton County District Attorney. He says fani willis is carrying out a political agenda against trump. Are anything come of that . Texas congressman lance gooden takes it on next. Feeling mean no more mr. Nice guy. No more mr. Clean. No more mr. Nice guy wow, you get to watch all your favorite stuff. Its to die for. And its all right here. Streaming was never this easy, you know. This is the way. You really went all out didnt you . Um, its called commitment. Could you turn down the volume . Here, you can try. Get way more into what your into when you stream on the xfinity 10g network. Stuart on the markets this morning, theres still somed red ink, but its not as bad as it was. Dows down 1000 to, s p down 25. 100. We are less than a week from the first Republican Debate and, of course, it is on fox news. Congressman lance gooden, republican from texas, joins me now. Congressman, i cant see how mre sidelines and watch others debate republican policy. I think hes, hes got an itch to get into it. Would you urge him to get into the debate . I would urge him to do whatever he feels like he wants to do. [laughter] obviously, youre going to say that because you work for fox news, and thats where this debate stuart no, no, no, i want to hear from him. Sure. Stuart i find him brilliantly entertaining, this guy. It will be entertaining, but from a strategic standpoint, i dont think the other members of that debate stage have, frankly, earned the right to stand next to him and debate him. The American People know what donald trump stands for, they know his leadership style, frankly, they know his debate style. They know what hes all about. Theyre either for him or theyre not at this point, and according to the polls, theyre very much for him. Hes leading by over 50 in every poll. It seems like a waste of a night, but if he wants to do it, i think he should do it. Im not going to say is he needs to do it, because he certainly doesnt. Stuart do you think mr. Trump is gaining ground with all these indictments in the latest poll that i saw showed him slipping a little. What say you . I do think hes gaining ground. I do think his supporters, by constituents, myself, members of congress that are behind him, we see right through this. I think the American People are disgusted with the way the Justice System has been weaponized not only against him, but every american in the conservative movement but especially donald trump. Hes really become the poster child for the weaponization of this government by this administration. And with respect to that debate next week, ive also heard that he may be planning some alternative programming. It wouldnt surprise me a bit. Im certain that whatever he decides, it will be in the best interests of his polling numbers which are continuing to climb. Stuart earlier on the show a republican state senator from georgia said he wants to investigate the Fulton County District Attorney. He joined the program earlier. Roll tape, lets hear what he said. We have a District Attorney who is using taxpayer funds to make political prisoners, and and donald trump and these 18 others, they were simply using their First Amendment right to question the integrity of the election. Some of these charges have nothinged to do with nothing more than a tweet. Its absolutely ridiculous. Thats why im calling this special session, because we have to take action now. Lets have this investigation, and and when the corruption is shown, its time to impeach her. Stuart state senator colton moore who says that fani willis is conducting a politically motivated campaign against trump. Shes the one that wants to put him on trial in georgia. Do you agree with that in. Absolutely. I applaud him. I think hes doing a great job. I wish the governor would jump onboard and join him. We see that when republicans, especially conservatives, step up and question anything with respect to an election, theyre called traitors, theyre investigated. In the case of donald trump, theyre indicted. I filed a lawsuit against Dallas County after the last election because they wouldnt let my poll watchers in the room, and they were misusing some of the covid regulations. They broke the law. Should i be locked up because i challenged the way an election was handled . Thats the message that these indictments and these prosecutions are s p sending, and what are sending, and what that state senator in georgia is doing is great. I think we in congress will be looking into some of these judges and some of the prosecutions that were seeing at the federal level. I know youll see the that on our House Judiciary Committee hearings this fall. We do not intend to just sit idly by while this government is weaponized against donald trump, and i really look forward to him getting back to the white house so we can stop this once and for all. Stuart match lance good, i believe youre one of the earliest trump supporters, way back when. Thanks for being on the show. Take care. Stuart yes, sir, thank you. Some members of congress are are demanding the ftc, federal trade commission, investigate youtube and google. They want answers after a report showed youtube has been tracking and targeting children online. Grady trimble with me. Take me through the latest on this, please, grady. Reporter stu, this is a bipartisan push. Republican senator marsha blackburn, democrat senator ed markey are calling for this ftc probe into youtube and its Parent Company, google. It comes after a report from the new york timeses and the Firm Analytics identified more than 39000 brands for 300 brands for ads for adult products like cars on nearly 100 youtube have videos for kids. It also found youtube ads on childrens channels that contained violent content, things likic motions, sniper rifles and car crashes. The time says some ads on childrens channels took users who werent logged in to withdrew talking about to bran web sites that then placed cookies or trackers on their browsers. In their letter to the ftc, senators blackburn and markeverything y say youtube anding google cannot continue treating young peoples day as an unprotected commodity from which to profit without abandon. Congress must also pass legislation to protect young peoples privacy online and finally ban 25rg9ed advertising to kids and teens. Youtube and it Parent Company have been fined before back in 202199 2019 to settle accusations they illegal wily collected kids personal info, but the company is strongly refuting this latest report calling it deeply flawed and misleading. Google goes on to say personalized advertising has never been allowed on youtube kids, and in january 2020 we expanded this to anyone watching made for kids content on youtube regardless of their age. The report makes completely false claims and draws uninformed conclusion based solely on the presence of cookies which are widely used in these contexts for the purposes of fraud detection and frequency tapping, both of which are permitted under the childrens Online Privacy protection act. As for the ftc a

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