Transcripts For FBC Varney Company 20131105

Journal, young avoid the new health plans. Thats a financial crisis because if they dont pay up, obamacare doesnt work. So, tax the rich . Thats the question in many of the Election Races all around the country today. Varney company is about to begin. You really love, what would you do . [ woman ] id be a writer. [ man ] id be a baker. [ woman ] i wanna be a pie maker. [ man ] i wanna be a pilot. [ woman ] id be an architect. What if i told you someone could pay you and what if that person were you . When you think about it, isnt that what retirement should be, paying ourselves to do what we love . And this park is the inside of your body. See, the special psyllium fir in metamucil actually gels to trap some carbs to help maintain healthy blood sugar levels. Metamucil. 3 amazing benefits in 1 super fiber. If you like your Health Care Plan, youll be able to keep your Health Care Plan, period. Stuart call it a lie, call it a deliberate deception, that was then, this is what the president is saying now. If you have or had one of these plans before the Affordable Care act came into law and you really like that plan, what weve said was you could keep it if it hasnt changed since the law passed. Stuart if your plan didnt change after the law was signed. Thats a very big if, he did not say that back then, did he . The whole question of deception dominates politics this morning and then theres this, young people not signing up for health coverage, look at kentucky where just 24 of enrollees so far are under 35 years of age. Remember, please, young people are crucial to the plan. If they dont sign up, they cant pay for the older people who most certainly will sign up. Look at this, the average age of new enrollees in michigan, 51 years of age. Now, in a couple of minutes, senator Johnnie Isaacson is with us, im going to ask him did the president lie and is obamacare collapsing . More questions that were asking this morning, number one, what is the price of the president s deception . Judge napitano will join us on this. And whats going on inside the oval office right now . Theyre in crisis mode, so who is in the crisis meetings . Doug schoen knows a thing or two about that and hell be with us as well. How much money will go to subsidies . Liz macdonald has crunched the numbers and not good. Were taking a look at kmart, please look at these pictures, would you want to shop at a place that looks like this. Yeah, definitely theyve got low prices, but will kmart stay in business looking like that . Our retail vigilante took the pictures and he joins us coming up. What are you paying for there is a good chance you could find it for somewhere under 3 a gallon. 33 states have at least one place with a two handle. Well tell you all about that one, too.  . . She loves a lot of the same things you do. Its what you love about her. 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Your link to whats next. Help the gulf when we made recover and learn the gulf, bp from what happened so we could be a better, safer energy company. I can tell you safety is at the heart of everything we do. Weve added cuttingedge technology, like a new deepwater well cap and a stateoftheart monitoring center, whe experts watch over all drilling activity twentyfourseven. And were sharing what weve learned, so we can all produce energy more safely. Our commitment has never been stronger. Oh, well, a lot of us did believe what the president said. Were we wrong to believe it. Did he deliberately deceive us when he said yeah, we could keep our Health Care Coverage if we liked it. Johnsy isaacson is coming up with us. Scott shellady is with us. We are going to open 60, 70 points down. You want to tell me why . Do you have a reason du jour . Yeah, you know what we had . We had negative talk overnight from the china how a loose Monetary Policy doesnt work and then the eu came out and downgraded their forecast, but to invoke the president s word, stuart, id like the viewing public to know although its a bumpy ride, if you like your broker you can keep your broker. If you like your pension plan, you can keep your pension plan. Stuart thats cruel. When you start lampooning like that the president is in trouble especially from a man in a cow jacket. Scott shellady indeed. And were opening to the down side and not a huge drop. Remember, please, weve run up nicely recently to well above 15,600. Were pulling back this morning and we expect to see the dow drop maybe 50 points after a couple of minutes worth of business. And then well move on to individual stocks. Can you believe that chipotle hit another all time high . The stock is well above 500 bucks. Its a burrito chain, remember, please. Nicole, the opening price, please. Nicole well, its slightly lower at 534. 93. In the last 24 hours, new alltime high chipotle 536. 56. And stuart, if you like your nyse reporter, keep your nyse reporter. Stuart everybody is jumping on the band wagon, if you like it you can keep it, not. And move on to pandora, thats another winner this morning. I suspect because more people are listening. Nicole its more hours listening for listeners and the stock is up 6 . The active listeners moved to 70. 9 million the end of october. And the hours listed, 1. 47 billion. That was a gain of 18 . And raised the price target to 30 bucks. Stuart we should tell our viewers if you like the New York Stock Exchange reporter you can keep her and listen to her on Xm Satellite Radio channel 113. If youre just leaving the house, youre off to work, channel 113. You can hear Nicole Petallides. Thanks, nicole. Nicole thank you. Stuart two more stocks for you, we always say that content is king and netflix content in the movie business. The company just bought the square, thats an original on the uprising in tahrir square. The film is getting oscar buzz. The stock is down 3, at 334. Strong, dare i say democratic luxury spending giving michael kors a profit boost and remember, thats a Charles Payne pick and the stock is up 3 1 4 , 77 on kors. Back to the obamacare disaster, thats what im calling it. Weve got more numbers for you. The Keiser Family Foundation says nearly 17 million low to middle income americans will be eligible for tax credits to buy obamacare. Elizabeth macdonald is here with us. First of all, this is separate from medicaid, which you get for free, right . And these are subsidies paid to nearly 17 Million People in the form of a tax credit. Right. Stuart is that like cash in the hand . It is like cash. What were seeing here is essentially the tax credits in Health Reform could amount to the cost of the u. S. Taxpayer, could cost about 73 billion a year. The tax credits that are being given out to buy Health Insurance on the exchanges. Were seeing that theyre being done on the honor system, meaning that the states are and the federal government is giving the amount upfront and then doing the audits after the fact to verify whether or not people qualify for it based on income. That reminds me of a mortgage. You say you earn money and you dont earn that money. Its the same with this kind of tax credit for a subsidy on obamacare, isnt it . Thats why you can lie essentially. Thats where theres concern at the fbi. The fbi talking to fox business. Agents there telling fox business there is concern that fraud will grow after Health Reform, that there will be a lot of crime in Health Reform, in the exchanges. Right now, for example, the earned income tax credit, a lot of fraud there. About 25 of that program is fraud. If you use those same rates, 20, 25 youre talking 20 billion a year potential fraud in tax credits given out under Health Reform. Stuart thats obamacare and thats fraud possibly within obamacare. Correct. Stuart now youve got numbers on fraud within medicare and medicaid. Youve got the numbers from the fbi. From the fbi as well. And they have dated it back to 2009. Thats the best data they can get. Theyre saying anywhere, and its a huge range, anywhere from 75 billion to 250 billion in existing health programs. Stuart thats medicare and medicaid. Thats correct. Stuart forget obamacare. And other Government Health programs, correct. 75 billion to 250 billion. Stuart to a quarter trillion liz right now Health Reform buried into the law, theyre going to spend 350 million in taxpayer money to police Health Reform, to battle corruption and fraud and abuse in the system. Stuart okay liz theyre going to be auditing. Stuart this just rolls on, doesnt it . Stay there, please, liz, a lot more coming. Im going to stay on health care or Health Reform i should say. Look at the insurer. Nicole, show me one insurer that shows the story. Nicole id like to show you one with an up arrow. Unitedhealth group a great example down over 1 2 a percent and were seeing aetna, wellpoint, cigna humana, down, down, down. And that chart actually tells the story because they fell off a cliff in middle of october and coming into november. Thats precisely the time when the Obamacare Exchanges were rolling out with enormous amounts of trouble. So the Health Insurers are getting hit. Nicole, stay right there. Thanks indeed. Ive got a developing story for you. This is something on the bright side, its a positive. What you pay at the pump, gas prices below 3, if you look carefully in 33 states. All right. Liz, oil dropped to 94 a barrel and actually touched 93 this morning, can we see more of this . Yeah, i think you could. We havent seen oil breaking above 100 a barrel since mid october and here is whats going on. The u. S. Governments eia, Energy Information Administration Says basically gas prices are dropping because Oil Inventories are nearing record highs. Why . Raymond james and other wall street analysts saying u. S. Oil production are nearing highs. U. S. Oil production are offsetting mideast problems in places like libya. Stuart in a sea of negatives, gas prices dropping below 3 is a big plus in my book. And oil dropping as well. No longer can the mideast use it as a political, when it rams up. Below 3 thats good for holiday spending. Stuart thank you, liz, for brightening our day liz sure. Stuart back to capitol hill, senator Johnnie Isaacson, the senator from georgia. We know it, this is the big story of the day, the president promised americans that they can keep their health plans if they like them and now people are being dropped right, left and center from the plans. Tell us the truth here, do you think he deliberately deceived us . Well, the president s representation in 2009 was totally incorrect and obviously, has proven to be very misleading. As of yesterday, the insurance commissioner in my state estimated 400,000 gore georgians, lost what they had as a result of obamacare. Stuart i see it as a political crisis because ive got a new much bigger number from a Duke University economist who says maybe up to 129 middle americans will lose the coverage which theyve got now and which they like, thats the vast american middle class will be shoved away from the policies that they like, directly contradicting what the president told us. I see that as a huge political problem for the democrats. And you . Well, it is. Its like trying to put a square peg in a round hole. It just does not work. Ive been saying for months that in my opinion as a businessman who rolled out products that i tried to sell to the public in georgia when i ran my business, if it doesnt work, you cancel it and start over. This is going to implode under its own weight eventually. Stuart so you dont want ten democrats in the senate want an extension of the signup deadline beyond march 31st. Its not in the republicans interest to go with that is it . Your interest lies in letting this thing fall apart by itself . First of all, my first responsibility is to represent the people of georgia and if theyre discriminated against on the employer mandate versus the employee mandate that probably should be fixed. As a public servant, im not going to play politics with this, i want to get it right or out of the way. I think it needs to get out of the way. Stuart do you think its collapsing under its own weight right now . I think were watching it unfold right now. I dont know its fixable. Shutting down the website an hour or two every night trying to tinker with it, security lapses taking place, and information going where it shouldnt be going. Its going to eventually collapse under its own weight whether its two months or two years. Stuart what are you going to do about obamacare, you, sir, in the senate. We need to right the problems, there was a problem with Health Insurance and we should have the private sector do it not turn it into a government bureaucracy. Im going to try and find solutions to the problem, the heart of success of our country. Stuart thank you for joining us on a very big day. Thanks, stuart. Stuart appreciate it, thank you, senator. Check the big board, where are we . Yeah, weve opened lower. 78 points down, but look at the level, 15,561. Lets get to another market thats very active, oil. 94 a barrel. Down again today. We actually touched 93 at one brief stage this morning and gas prices are down. Our retail vigilante, hes at it again. Now hes here at kmart snapping pictures of a store that doesnt look too inviting to shop in rather than invest in. What you shop there because of the prices . Is kmart close to demise . Thats next. Roxanne you dont have to wear that dress tonight, walking the streets for money, you dont care if its wrong or if its right announcer at scottrade, our clients trade and invest exactly how they want. With scottrades online banking, i get one view of my bank and brokerage accounts with one login. To easily move my money when i need to. Plus, when i call my local scottrade office, i can talk to someone who knows how i trade. Because i dont trade like everybody. I trade like me. Im with scottrade. announcer scottradeproud to be ranked best overall client experience. Sometimes they just drop in. Always obvious. Cme group can help you navigate risks and capture opportunities. We enable you to reach Global Markets and drive forward with broader possibilities. Cme group how the world advances. 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Good news for you. A couple big names that you know. More people are buying prescriptions, prescription drugs i should say, at cvs. Thats good for the stock up 2 . And tesla reports after the bell today. Remember, please, tesla is up 400 this year and up again in anticipation of that Financial Report later. Up 2 , nearly 178 right now. All right. Two weeks ago, it was sears. And now, brian brought his camera to kmart and show you pictures therein. There was a time when kmart youre the man with the camera and out you go, you take nasty pictures of sears, their stores and now youve got kmart on the hook. What are you saying here, theyre going out . Well, i think when kmart was relevant i probably wouldnt have thought because i wasnt born yet. What im seeing is unkept, untidy stores. Kmart is supposed to be one of the low priced leaders, with target and walmart. Because the store is dirty and not invested in, as a consumer can you trust they offer the best price . And is the product safe as some of the pictures we took . Wait a second, lets keep running the picture during the interviews, i want to see viewers to see what the interior of a kmart looks like. Cover your eyes. Stuart attention some kmart shoppers, words some people never heard. People dont go to kmart for the atmosphere. They dont go for nice looking store shelves and clean carpet and floors. They go because they walk in and they see a price which is is very, very low. What they dont know, if its low, because of the stores are so basically unkept. You cant trust theyre the best possible price and secondarily some pictures we took, look at the coolers, lights out. Is the food expired . You look at the battery section, the most atrocious thing youve ever seen covering Retail Companies in over ten years. Stuart battery acid. Battery acid on the floor of the diehard section. And what if im a dad and i have children crawling around. Is it going to last a year. Two weeks ago you came on board the show and showed us pretty bad pictures on the inside of sears. The stock went up. Explain it . With he will, these are things that are going to build over time. So, over time youve seen sears become more irrelevant, youre going to see kmart become more irrelevant and in fact, kmart is irrelevant now, you look at samestore sales down for eight straight quarters and that did not happen. Despite sears insertion, might be some macys consultant. Theyre not investing in their stores and thats showing up in the factual financials. Stuart repeat that, eight consecutive quarters, and negative sales and kmart down. A sad fact, in 2005, kmarts operating margin was 4 , last year minus 1. 4 . And all of these things may not show up in the stock price today, but five to enit years the Companies May not be in business because of what theyre doing in the stores. Stuart youre saying with that prediction . And sears riding it out and a historical note. Absolutely. Stuart youre popular in some quarters . Were just getting started. Stuart its interesting, a new style of analysis. Thank you. Stuart you with a nt you want to tell us where youre going next. Theres a tease, a tease on sunday, and out on monday morning. Stuart your site is, bell list capital. Stuart our retail vigilante, thank you, brian. There are three big races across the country this election day, theyre foregone are they foregone conclusions . Probably not, but pretty much. They tell a story today of major trends in politics. Ill be discussing that in my take, which is next. Big names you know in the news. The educational toy maker, sleep frog, cut its sales forecast, thats a nono, down 8 . Hey, please look at microsoft, which i own, the biggest winner on the dow. 52week high, 36. 46 thats retirement territory almost. Weve gone almost 40 minutes and we havent mentioned twitter yet. Dont worry we have another twitter bull in the next hour and we found a hidden value in twitter that even facebook doesnt have. And the reality, hard core pawn,s got crazy stories from his shop in detroit. Its election day, here is my take on content that set the tone and trend of the nation. Number one, new york city will almost certainly elect bill deblasio as the next mayor. Hes beat up the banks and worst of call, suppress School Choice and supports the return of acorn, such is the state of politics in our figure cities. Thats a terrible trend. The truth is productive people everywhere are swamped at the voting booth by the angry handout brigade. And number two, democrat may beat cuccinelli in virginia, and the press says cuccinelli theres enough support from the right, to hand the election to the left, the democrat. Thats the lesson from virginia, split the right and the collectivists walk to victory. Chris christie is likely to win another term in new jersey. Thats fascinating, jersey is deep blue. Christy is a republican. Hes taken on the sacred cows of the left and beaten them. He wont raise taxes on the rich, but he wins new jersey. Incredible. Here is the question, is he the kind of republican who can win nationally . In my opinion, a big win today makes Chris Christie the front runner for the republican nomination in 2016. Ive got one last one for and its colorado. Voters there will decide whether to raise taxes on people making more than 75,000 a year, that qualifies as rich in colorado. They keep lowering the threshold, dont they . My bet is it that the headlines tomorrow will be all about the evils of the tea party and a surge in tax the rich sentiment. The media will be able to turn away from the catastrophe of obamacare and get back to what they do best, bashing those americans who work hard and love freedom. I hope im wrong. [man]ask me. [announcer]. Every wish for a bed that could feel perfect under every part of your body. 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Ian days twitter goes public with our guest says this social network is a very big winner. China is in the news. Are they going to beat us . Is this fair century . Our guest says nonsense to that. War stories from the porn shop in bankrupt detroit. Here we go. If you like your Health Care Plan you will be able to keep your Health Care Plan, period. Stuart you heard the president. If you like youre playing your can keep it, that is far from the truth as several Million People have already been told they cannot keep the plan they like. The president is accused of deliberate deception. His harshest critics say he lied. Judge Andrew Napolitano i believe is one of those harsh critics. All rise. The judge is here. Is the liar . Judge napolitano line is intentional deception. It appears he intentionally deceive ended appears because we now know from emails that have been revealed that this issue was debated in the white house between policy wonks and political wonks. The political wonks, people who advised him and manipulate his public image wanted him to be people to say you can keep your doctor, you cant keep your insurance policy period. When you say the word period, you are saying to your listeners everything that preceded the word i guarantee is the absolute truth, yet we know some of these policy people want him this is not going to be the case for millions of people but they chose to make a statement any way, seriously questioning whether it was true. Stuart had he told the complete unvarnished truth back then, maybe obamacare would not have been enacted andld have done far worse in the 2010 elections and his reelection in 2012. Judge napolitano correct. He faces the problem of obviously having lied and democrats fleeing for cover from him because they have to run for reelection. The entire house this year and one third of the senate this year do not want to be tarnished with this. The interesting thing to me is this is the same government that prosecute people for lying. Why is it that if we lie to the government like Martha Stewart about whether or not she made certain phone call on a certain share of stock, in a conversation with an fbi agent wasnt under oath to a judge or jury during the course of which the fbi agent lied to her the fbi agent kept the job and she went to jail, why is it that if we lie to the government we can be prosecuted but the Supreme Court is expressly held that the government can wise to us with impunity . Stuart not with impunity. Judge napolitano legal impunity. Stuart theres a political price to be paid. Judge napolitano he will pitch that price if he is unable to govern especially if democrats plea from him because they have to face the voters again and cannot do so with a straight face embracing a lie. Stuart would you use the word . Are you comfortable i am an immigrant, i love this country. I am uncomfortable calling the president of my adopted country liar. Judge napolitano clearly he uttered an untruth, knowing the and truth, he has attempted to change it after he uttered it. It was a centerpiece of his campaign in 2008, centerpiece of his campaign to get this passed. Last night you and i were on with meghan kelly. Her producers assembled almost all the times he said that. He got blue in the face you heard it so many times. He said it so many times in so many different venues but always the same way. If you like your policy you can keep it, if you like your doctor you can keep and looking in the camera as saying period. You cannot do that unless you know with certainty what youre saying is the truth. Stuart but he knew at the time, his administration knew at the time it wasnt true. Charles to the judges point, to your point, what republican will come out now and say the president wide . I agree with you. Judge napolitano republicans are hurting because of the manner in which they are perceived by the public after the shutdown of last month. In a couple months the shutdown will be forgotten and republicans like pundits have been doing, how can we believe you . Were you lying then or are you lying now . Stuart if any prominent republican comes out and says the president is a lawyer, then they suffer the political fallout for having used that harsh word about the president s. No republican will do it. Judge napolitano when the harsh word is true and demonstrably true republicans should not fear to articulate it. Stuart how about immigrants . Judge napolitano nicely put. Stuart thank you so much. New this hour, a testified under senate panel on obamacare, runs medicare and mckay and blame the web site at so years on contractors last week. What will she say today . Probably the same thing. Here are the headlines as she takes the oath again. 1 twentynine Million People, sixtyeight of the population will not be able to keep the Health Insurance they have. The new and much higher number from the Duke University economist and young people are not signing up for health coverage. Look at kentucky. 24 enrollees a under 35 years of age. Please remember young people are crucial to the plan. They cant pay for the older people who will definitely sign up. The average age of new enrollees in michigan is 51 years of age. This has been called a death spiral in reference to the Insurance Industry because it is going down in a vicious circle. You agree . Charles it is a death spiral. For the Insurance Industry, a death spiral for obamacare. Coming out of the, the gate opens and you crumble right then and there. I cant wait until we start to see numbers at, enrollees under 27. Those kind of things. From michigan, you would have thought the funds would have been jam than the average person would have been 22. It is a broken city. Stuart it is the fall apart as i speak. They join me . Charles the irony is everytime theres a small fix they will take a victory lap. Everytime they put a little piece together, the sad part is they circumvented the normal way of doing business because they took 29 months longer, would have done right thing instead of having four choices and brought in more people, more consultants because the president wanted to have it at a specific time, that was october 1st, gigantic mistake with the web site itself. Stuart you would still have had these mass cancellations because of the structure of obamacare. Charles it was sold to us as a way of getting thirty Million People healthinsurance. Now is being resold as cheaper is this, less that, people changing policies, everything was not sold as. Stuart the rental store is the Economic Impact it has on the american economy. Stuart no investment by business big or small. Stuart stocks pulling back after hitting new highss recently. We are down 95 points close to the low of the day. One stock is a winner, gt dance technologies up huge as this day. It was one of his picks, want to take the victory lap now . Charles less for the phones could deal with apple. And my sons phone is so cracked and broken. They do make the glass. You cant take a second victory lap. Michael quarters. Tell us how good is this morning. Nicole it could take another victory lap, okay with me. Michael scores of 4. 8 . Stock is doing really well. I know we talked so much, you may remember coach at intense competition. Michael course makes handbags and accessories and watches and the like and they have been doing really well. We saw their revenue from a rise raising the problem, north american samestore sales doing well, what is not to love. Stuart that is a big gain. E. U. Holding on . Charles i dont know. I am grappling. The story is so phenomenal they may become victims of their own success. Europe samestore sales up 45 . Stuart i thought they were broke. Charles the numbers brocas the think the job. I am grappling with it. Stuart twitter shares will be starting to trade on the market. Social ceo, very bullish on twitter. You are not bullish on the stock. You are not a stock walker. I am coming at it from a perspective where Second Screen is the biggest thing happening, turned on its head, a campaign that dead. I will give the example. If you are watching television chances are you have an audit at open or iphone you are following the conversation on twitter. It is compelling, the new way of advertising. For the leukemia and lymphoma society, some day, today, a campaign was launching during that show, silverback live as the commercial aired was engaging in a conversation as the leukemia and lymphoma society, as people were in ingesting the show on television the were prepping and having a conversation about the commercial about to be launched, they knew the campaign and we were having a conversation on twitter with millions of viewers that reinvesting it while they were watching the show. Nothing else out there. It has ultimately changed. The dynamic is different because people can engage in a conversation in realtime and different clients and agencies can now parachute into the conversation. Stuart you are saying twitter as a platform for advertising. The most compelling advertising platform out there as a realtime conversation and examples like i just listed for sports events, as content is breaking, as information is breaking, oreo cookies during the super bowl and the blackout happen all the sudden within minutes, 20 to 30 minutes the attic and the oreo cookies, that is the direction the campaign is going. Charles what makes it so fantastic is there arent any big commercial interruptions right now. As you start to get that stuff into monetize it, contract visit to the user . It becomes part of the culture. People used to lament about facebook, it will never have as many results or eds, people will grumble about it and acquiesce because this is the platform of choice and the reason i approach twitter and aim bullish is silverback his platform agnostic and Software Agnostic but we plan kelsos of the platforms that are compelling on behalf of brand partner is. Mmhmm jeter plus years, twitter, facebook, google plus, when we are trying to figure out what will have the most compelling conversion event and conversations so that brent can connect to 1 billion people on social platforms twitter has to be part of that. Stuart the pop up things that pop up a different. Stuart were you sick yesterday . And not getting any better. So twitter become all. It is because the immediate has changed. I am on the bandwagon and bullish on twitter. Stuart extraordinary so. You told me a lot that it did not know, thank you very much indeed. With a second. Got it. Look at the thank you very much. Charles, welcome back. Another big nanny and though, lower profits, is the stock down . This is a terrible stock, down 24 , doing better than it was earlier, coming of the lows but they faced more costs, that is not good news and also have cheap tickets under their umbrella but stock is down 23 . Stuart we have a bone to pick with this one. No more victory laps. Lets turn to charles because you like that. Charles that was up big. Time site is 2020. Im thinking of that old song two out of three and bad. Or real brokendown, real quick for the audience, stocks under 10, it is a lot riskier when they used to be a lot higher, 40 stock is under 10 like orbits or a sock that has never been over 10 but climbing so just a little bit of a learning lesson but im holding on to it because i think it has enough going for it that eventually it will be acquired north of 12 but is a big loser. Stuart when you are loyal, arent you. Charles loyal or stupid or combination of both. Stuart we are going to take you inside the oval office. What happens when the white house is in crisis mode . Doug shoen should know. He joins us to talk about spin like this. The law doesnt say to the Insurance Industry you drop coverage. The Insurance Industry decides, it will make money. Whether private companies decided they will draw people put them in the exchange you blame president obama. He is not responsible for that. [ male announcer ] how could a luminous protein in jellyfish, impact Life Expectancy in the u. S. , real estate in hong kong, and the optics industry in germany . At t. Rowe price, we understand the connections of a complex, global economy. Its just one reason over 70 of our mutuafunds beat their 10year lipper average. T. Rowe price. Invest with confidence. Request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. With investment information, risks, fees and expenses help the gulf when we made recover and learn the gulf, bp from what happened so we could be a better, safer energy company. I can tell you safety is at the heart of everything we do. Weve added cuttingedge technology, like a new deepwater well cap and a stateoftheart monitoring center, whe experts watch over all drilling activity twentyfourseven. And were sharing what weve learned, so we can all produce energy more safely. Our commitment has never been stronger. Pop in the drum of any machine. To wash any size load. It dissolves in any temperature, even cold. Tideod pop in. Stand out. Stuart charles says he can make us some money with a home builder. Charles the street hits home builders. A great number for of them. The footprint they have. And accompanied the report and an amazing number. I think was the stock of the day. All the same stage, concrete sales were up 17 . Aggregates were up significantly. These are all the things that are underpinnings of the Housing Market and residentials making it, rental equipment to buildings, that stock is going through the roof. A lot of evidence the street is missing something. Significantly oversold. This ought to go up 30 or 40 . Stuart so far you have had two out of three, the third was a dreadful loser and now you are trying to make a come back. Charles every day. Stuart the white house doing some damage control. Dont blame the president , blamed those nasty Insurance Companies who dropped you. Doug shoen knows a thing or two about crisis mode in the white house and joins us now. Tell us, what is going on in the white house right now . To put it simply and directly, the obama team is trying to save the Obama Presidency and they are doing everything and anything they can to deflect blame from the president , a president who has made statements as you and others have said that have proven just not to be true about obamacare. Stuart are they sitting in the oval office with the president and Valerie Jarrett and who else is there . Second place in the oval office . Absolutely. The director, press secretary jay carney, they are trying to figure out a way out of a mess of their own creation and bottom line, there dont appear to be obvious answers. Stuart are they doing, what kind of job are they doing . They are blaming the insurance blaming everybody. The American People are forgiving. If you explain we thought we were right, we got it wrong, theres a slight alteration, we feel badly but what we said before isnt strictly speaking the case, okay but they are not doing that. Believing the insurance company, parsing words, making arguments that just arent true for political reasons. One thing theyre not doing is reaching out to the republicans. Stuart that is true. I said earlier today that i think obamacare is falling apart, collapsing. Can they save the presidency . If im right and obamacare is falling to pieces, and they say that . Not with the strategy they are using because if you are right and you may well be, you are not heading in the right direction. They need to reach out, get the website fixed but more than that make sure the program delivers the benefits and right now with people being dropped, young people as you said not signing up, they are in crisis mode, playing politics rather than trying to fix a broken system. Stuart this white house never reaches out to the republicans. Charles they reach out when they put this thing together. I will tell you a little story. I know lots of political people and they are always proud to say i get calls from the white house or this or that. And none of them here from the president and air men. It is the narrow group. They are not reaching out technologically, substantively, politically. It is a white house in isolation in crisis. Charles do you sense with the election in virginia today that everyone is going to sort of start to focus within your party on the clintons again . Distance ourselves from the president , hillary will be the nominee, bill is helping people get elected. Is there a sense everyone should no sense in trying. The president is unresponsive to everybody. Lets be very clear. If and when Terry Mcauliffe whins in virginia today in a red stain, bottom line this is a victory for bill and hillary clinton, in a certain sense it is a robust for obama even though he campaigned this weekend, this is a reprieve for the clintons of their fundraising and political clout. Stuart must be tents in the oval office. I have been there during the Government Shutdown in 95 and 96 and the Monica Lewinsky scandal. It has got to be tense because they just didnt tell the full truth, they havent reached out and they havent been straight with the American People. Hard to make policy when that happens. Stuart thanks for taking us back to the center of the action. Someone writes a book about the ceo of amazon and the company and a ceos life goes on amazon and trashes the book. Great stuff. Auld details next with the dow down 92. Stuart look at the big board. We are down 85. 86. That is where we are. How is this . Healthcare, the top percentage loser on the s p 500, costs up, profits down, stock up 10 . That is the property for obamacare. Look at jacobi, the brio joined in a new alltime high of 537 backed up the little. This is chipotle at 5 35. Amazon. Com allows negative product reviews from consumers. It just got one from none other than the wife of the amazon founder jefferies those, she gives a one star review to the everything store. She goes on to say this. Numerous factual inaccuracies are certainly troubling in a book promoted as opposed to jealously research definitive history they are not the biggest problem here. The book is also full of techniques which stressed the boundaries of nonfiction and the result is a lopsided and misleading portrait of the people and culture at amazon. Amazon is a statement calling stone secretive saying he was given many opportunities to bring a more balanced viewpoint to the book. I dont think he ever actually interviewed geoff bass us the right to give the greatest innovator of the century. Charles he is in the top 5. I just said i love you. You took a Company Public and told wall street you are going to do this your way and he has done it his way. As far as this stone guys concerned he will make minor changes to the book based on this party to review but what a wife. Every husband want their wife to come to their defense. In an eloquent way, my wife wrote a book, someone trashed the book about my wife i couldnt have said all my tweets would have been four letters and cross outs, so eloquently. Stuart on amazon. Charles yes. Stuart did she say obnoxious things personally or was it just charles i dont know. It feels like maybe he ruffled some feathers. Got to remember he met his wife along time ago. She is pretty defensive but she did it more intelligently than i would have. Stuart some telling election seems on this election day. Democrat bill de blasio is a shoe in in new york to replace michael bloomberg. He is a hard left and very much tax the rich kind of guy. And colorado voting on a measure that define the rich as anyone making more than 75,000 or more. 75 grand makes you rich in colorado . Charles imagine that. Of all states, their leading the way with marijuana and Everything Else but we have a serious problem where people forgot how we became the greatest country in the world and jealousy, envy, hatred, stirred by politicians beginning in the highest office of this country will have major ramifications. Our dna is still there. We have people who believe in this country, bobby been entrepreneurship and accountability but more and more success is a four letter word, more and more being extraordinary is a bad thing. Stuart tax the rich looks like a Successful Program in some parts of the country. New york, this guy will win in new york by 40 points. He is all about taxing the rich. Charles a crazy race, in seattle, going to the furthest left. If you look at all these places, whether it is washington dc or new york, city or state, income inequality has gotten worse. The higher the taxes have gone the social welfare has gone up, the wider income inequality it becomes the cause you get a group of people and say we will reward you for mediocrity and anything that happens in your life is not your fault. In the meantime we will punish the rich. Rich people have a way of finding ways around obstacles. They will pay more taxes but they will find a way to make it up somewhere but the person you are trying to make comfortable with an extra cellphone is not going to move the needle in their life. Stuart when is gold is back with us, the star of hardcore porn. He has some story for us, were stories, you name it from the life of a pawnbroker in d 4. Stories like this one. Zombie apocalypse is coming. Pretty sure. The weather is changing. Meteors falling from the sky. 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You are calling that a peer that . He is trying to put that on fat, get the Health Care Reform and all the problems with healthcare. Gov off of the front page by a meeting with eight ceos to talk about immigration reform, also remember the politics of this, the president and the democrats trying to protect their constituency with hispanic voters. Stuart he is not going to white obamacare of the front page. There is a News Conference in a couple of hours. I want you to listen to what happened yesterday. You said you can bypass the website and applied by phone and in person and it can be done in 25 minutes that these memos sad an end of the day we are stuck in the same queue because they go through the same portal. The first person who calls isnt the one who continues to wait after the application is filled. The president said you could apply in 25 minutes but that was not true. It goes through healthcare. Gov but you have done the work i give a. Stuart our viewers were watching the turning of the establishment media of against obama and obamacare. Will we get more of the same today . Absolutely. That has been happening every day. If not john carl from abc news it is another reporter or colleague from fox news, chuck todd from nbc has been tough on jay carney and these briefings and i am in there for a number of them and they are getting pretty heated. Stuart we want to hear all about it. Take a look at some tech stocks, blackberry, the day after we put this on deathwatch look at bill up 3 . Always happens. Aol profits down 90 but stocks rally because it wasnt as bad as the experts thought it would be and we have pandora, listeners up, the stock is up 3 . All right, everybody. You have been waiting for this. Pun is going to regale us with stories of his pawnshop in bankrupt they troy to. Welcome back. I take it the business is good . Is always good. If we dont get it one way, if people dont partner merchandize which were seeing happening because the economy in detroit is Getting Better so we see an uptick in the retail. It could have gotten worse. It was still bad but the way detroit is coming back, dan builders, nations coming in, buying the streets, it is coming back. Stuart i was not looking for spin but that is what i am getting but i am looking for some stories. We gave our viewers, the guy about the zombies. That is a crazy story. You got a couple sad stories. There are always sad stories. When people a desperate they will do anything. In 1968 world series champion, there Championship Ring because he needed to make ends meet. He was out of work, a little bit older now, had a health issue so he needed some money. That is the sad story, an iconic figure when i was a kid. Stuart i you a nice enough guy to give him an extra good deal because of who he was . We did. We gave him 40 more than the item was actually worth. We are upon shop so people on their he didnt sell it, he pawned it. We are shortterm lenders so utilize our services. Stuart some have the stories. Enough of the sadness. We have a reality show that happens to be on tuesday night on true tv. And we are on all over the world so we have a lot of work, were very recognizable, people stop us on the seat. Stuart less gold. You have tourists from overseas who track to detroit to see you in your pawnshop . Spain, italy, australia, they come from everywhere, now pawnshops are mainstream. People come in 4 deals. You dont have to go to your mall Jewelry Store to buy his watch. He can come pecan come to the pawnshop and we offered gold down 25 . Legal on the price of the metal. Stuart you are telling me pawnshops nowadays are retail establishments. People now have gone mainstream into pawn shops. People all over the world go to local pawn shops and walking with christmas lists. They come in with christmas lists and on our website, pawnshops have web sites, we really focus on retail end love it because we have gone mainstream. Such rate deals, you dont have to go to the internet, dont have to go to your local mall. Go to your local pawn shop come to detroit you will save money. Stuart somebody comes into upon something, you got to give a low price so that you can resell that item and make a significant profit at retail. Let me tell you how it works. We give approximately 60 of the number we have in mind what the item is worth so we want you to come back, we talked about it before, 90 of people come back to their merchandize but the 10 that do not we need to sell it. We need to get a lowmargin, 10 , 15 . Charles is still a countereconomic indicator. You are not generating economic activity. No one is making the watch, selling the watch, the buyer benefits. It is a counterindicator because im trying to save money. Watch you are wearing that you bought yesterday and the watch i could sell you purchase six weeks ago, we give warranties, still give, make sure the item is working correctly whether it is electronics or computer or a watch or a diamond. Charles the economy growing at 7 gdp, your business would go down. That is part of it. We have so many we have so many indicators because when the economy is bad our online gets longer. When the economy is better it gets shorter and retail gets better but if you have a credit card stuart they queued the heart because they never saw i am going to. I will take out of here if i am allowed to do this on Live Television a 20 bill. Id bet that you make more money from your tv show do i win my bottom line . I have to understand, are we including people who come in from the show . Stuart total gross profits generated by your show are greater than the total gross profits made in detroit. 20 bucks says the show is the greater profit place. You got to prove it. When you have me on next i will bring you the numbers. When tv goes away i will still be doing okay because we have a pawn shop. That is the reason. Dont misunderstand me. Tv now allows people to come in and understand the importance of saving money purchasing merchandise from us. Stuart i have been told legal just been on to me, not allowed to gamble on television. Good excuse. I tell you another good story. Redeye comes in the other day with a vintage hundred dollar bill. From 1928. He thinks it is worth 1,000. He wants 5 and the dollar or 600 to buy. It meant so much that i took and pond for 90. A 100 bill. That is the prime indicator of a story you would never have expected to hear today. Stuart less bold, walking charity. Observe, everybody. Paying him. This tape of this. Are you coming back . Anytime. Stuart when you got to prove it. I will never see again. Great stuff. Thank you for having me. Stuart are we losing economic ground to china . Are they going to be us . Absolutely no way. He laughs at statements like that and this. Forgive that. Dont ask. announcer at scottrade, our clients trade and invest exactly how they want. With scottrades online banking, i get one view of my bank and brokerage accounts with one login. To easily move my money when i need to. Plus, when i call my local scottrade office, i can talk to someone who knows how i trade. Because i dont trade like everybody. I trade like me. Im with scottrade. announcer scottradeproud to be ranked best overall client experience. Stuart testifying before a Senate Committee facing questions on the rollout of obamacare. Kathleen sebelius testifies again tomorrow. Here are obamacare headlines, twentynine Million People, sixtyeight of the population will not be able to keep the Health Insurance they have, that from the Duke University economist. Kaiser Family Foundation says seventeen million middleincome americans will be eligible for tax credits to reduce the cost of their insurance under obamacare. With all this news on obamacare look at the Health Insurers, not good. They were down in the past week, down again today as obamacare runs into trouble. Coming back a little, we were down triple digits at the top of the hour, down 61 points, oil down. No the fumbling around with rotating categories card. Its not the etting blindsided by limits card. Its the nogameplaying, noearninglimithaving, deepbombthrowing, givemetheballandilltake ittothehouse, cash back card. This is the quicksilver cash card from capital one. Unlimited 1. 5 cash back on every purchase, everywhere, every single day. So let me ask you. Ats in your wallet . More than a new interior lighting system. It is more than a hot stone massage. And more than your favorite scent infused into the cabin. It is a completely new era of innovation. And the highest expression of mercedesbenz. Introducing the 2014 sclass. The best or nothing. Introducing the 2014 sclass. Help the gulf when we made recover and learn the gulf, bp from what happened so we could be a better, safer energy company. I can tell you safety is at the heart of everything we do. Weve added cuttingedge technology, like a new deepwater well cap and a stateoftheart monitoring center, whe experts watch over all drilling activity twentyfourseven. And were sharing what weve learned, so we can all produce energy more safely. Our commitment has never been stronger. Stuart Nicole Petallides has the story on target, something theyre doing to get people in stores for christmas shopping. Nicole looking at target because it began old ipad, of the first generation once you got a long time ago, target is running a promotion like walmart where you can bring in your roll back or products and get and give cardboards a new one. Doesnt sound that. 200 worth of gift cards. Doesnt sound terrible, time to upgrade. Stuart it is not moving the stock but it is a good story. Thank you. Charles says he will make us some money and the company he likes is i robot. Charles and interesting company, made a lot of new money, the awards winding down, remarkable job on the home side, to do all the work for you. All these other things you put down and a mop and sweep. Stuart the robot goes after a catch in a quarter. Is that one . Stuart they may not like that commercial. But the home robot business has done well predictably last quarter, internationally up in sales but missed the street, the street overreacted. They have an interesting thing, they have this robot, Time Magazine did an article and it is how to spot on workers, complete you are there, it is video, trying to get costco to help solve this thing. What i like is how the company has been able to segway when things are not going well to Something Else going well. It is more risky than normal because they missed the last quarter but i like it. Stuart they are a spying operation. Charles they can help you find your employee. It is a winner. Stuart 3d systems, a new high being traded heavily. We discussed 3d printing a lot on this program. What is going on . Charles this is a company that printed the rope for us. This is a stock, just got an email from the office earlier matching average daily volume, theres a rumor ibm is interested. I dont buy that but i do think big names in the industry should take a look at these names instead of trying to start this business from scratch. Stuart a 3d printing company. A new report says people with money think that china is going to beat us, overtake us by the end of the decade. Our next guest says not so fast. Michael caine is here. Welcome back to the program. This poll and that is all is shows if you make 50,000 a year you are more likely to think that china beats us. I want to break this into various areas. These people say they will be us on the issue of the deaths. What do you say . First point is right. It is just a pole. It represents notions and perceptions rather infects. We need a few facts on this. In terms of the amount of u. S. Public that theres a huge mess, 100 or 50 , a huge amount, it is 8 . Stuart they only unknown 8 of the debt, u. S. Public does. Charles it is 1 trillion. 1. 2 trillion in the context of 16. 4 trillion it is not 100 and the spelling of that myth out there. Stuart they say they think the chinese are going to beat us militarily by the end of this decade. You hear senator mccain talking about this all the time. China spends 100 billion on defense but the reality is that it is less than 15 of what the u. S. Spends on defense plus it has 1. 2 billion people. Stuart they are not spending very much. We spend a lot more and we are high tech. Brands. Brands in some ways will overtake our brands or swamp our brands. What is that . Their key to the context of soft power. They have 32 of the top brands on the fortune 500 but america owns the top five, apple, ibm, microsoft, they are the top five owned by the u. S. And we got to understand it is not just about a checkbook, it is about access to creative entrepreneurial ship america has over china, access to start of Financial Systems the u. S. Has. It is also access to the cutting Edge University research the u. S. Has over china, aspects of human rights and so on and so forth. Stuart they will not be us. That would be nonsense. We are running out of time. Just a moment, everyone. [ male announcer ] need help keeping your digestive balance in sync . Try align. Its the number one ge recommended probiotic that helps maintain digestive balance. Stay in the groove with align. Marilyn tavenner, who runs medicare and medicaid, testifying before a Senate Hearing today. So far she has said the wait time for the Obamacare Exchanges is Getting Better and she promises they will be fully operational by the end of this month. She is also said that it is still contractors who are to blame for the very poor rollout of the Obamacare Exchanges. Now yesterday we shared with you a story from the wall street journal about a woman with stage 4 gallbladder cancer. Her insurance had been canceled. She cant see the doctors she credits with keeping her alive. She blames obamacare. Now think progress a leftist group wrote up piece debunking her argument. I quoted, she is losing her sunday and doctor because of a business decision her insurer made within the Competitive Dynamics of the California Health market. The piece explains, says, United Health dropped their coverage because they struggle to compete in californias individual market for years and they dont want to pay for sicker patients like sundby. To add insult to injury. White house chief of staff dan pfeiffer tweeted that out. Period i were promised that wouldnt have it. Leftist blaming her. Gutless. Gutless. Dagen. It yours. Dagen thank you so much, stuart. The future of the Republican Party can be boiled down to two governors races to be decided tonight. One in new jersey and the other in virginia. The president trying to qualify about what he said keeping your Current Health plan under obamacare. Who is picking up what he is putting down. Immigration summit underway at the white house. The Administration Says more than a trillion dollars is on the line with the leaders of these companies. Money wellspent for dodge. Wait until you hear how many durangos that dude sold. All that and another anchorman is here. Mr. Connell mcshane on this hour of markets now. Connell stay class sir, southern virginia. Thats it. Dagen mcdowells home state and focus today. Not as an exciting election as maybe, i dont know, last year but, or dagen or new york city. Connell that one is pretty much a foregone conclusion unless every poll is wrong but dagens home state of virginia we