Transcripts For FBC Varney Company 20170612

Treat the selloff as a buying opportunity or is this a signal that the whole market is due for a drop and big tech was just the start . We will watch this unfold. Now, here is a dilemma for democrats. Is it time to rein in the extreme and now obscene criticism of President Trump . Outrageous examples of both this weekend. At taxpayer expense, shakespeare in the park, showed a trump look alike being stabbed to death. Two pulled back and one did not. And gillibrant used an fbomb as she described the poles. And so welcome to the show. Are you buying the dip or the increasingly vicious attacks on our president . Varney company is about to begin. I can see people selling at those very high prices on the fabulous five and rolling some money into lower technology companies, which havent yet had the pop. Well, that was me on friday, suggesting that maybe the big name tech stocks would be big selling point, as people moved their money into other stocks. That did happen. Big tech names, they took a huge hit on friday, apple, amazon, facebook, alphabet, microsoft, netflix. More in just a moment. Suffice it to say theyre going to open lower about 27 minutes from now, as we start the new week. Ive got big Corporate News for you to get things loving. Jeff immelt will step down as ceo of general electric. Hes been there 16 years. Here is ge stock price premarket, its up a buck, thats 4 . Details on the leaving. Liz hes being replaced by a 30year veteran, john flanker flan flan flanery. Its beaten the indices since the financial collapse its been underwater in terms of when he started. I tell you, theyve been hitting their eps targets with stock buybacks, but negative class flows. And placed a bet on oil before it plunged and spin off the media business. He has no sacred cows, can he move that stock price to start in the green direction. Stuart hes had 16 years. Liz jeff immelt has. Stuart a troubled period in ge. I want to get back to that later. I want to get to the big tech names, theyre going to take a haircut at the opening well. Former reagan economist art laffer. I dont want to suggest that the show moves the market, but we did discuss rotating out of the big ones during the show. I want to blow my handwritten. Youre way too cool. I follow you immensely on this. Stuart is this the dip or the start of a big selloff over the whole market . I dont think its a big sell i dont have over the whole market. It may be a fairly large dip. These stocks have done extraordinarily well for long time and you get down turns now and then. I dont see anything fundamental in the marketplace that would tell me were in for a huge down turn in the evera everall overall stock market. Ive been wrong before. Stuart youre going against david, who says it could drop 35 , thats a selloff and and a half. He says wall street is not ragsal. Why dont you respond to him . Hes been saying that for ten years. Every now and then even a blind pig kinds an acorn and sooner or later hell be right and hell claim victory. The tut truth is, i dont see the evidence that says this economy is in trouble. I think the historical norms are below where they should be, if we get this boom i think is going to come with trump policies and taxes and already some has been put in, i dont see the market going down in the future. Stuart i want to add this as a last minute caveat. Yes, sir. Stuart we get the boom if we get the tax cut, the infrastructure and cutting of red tape, correct . Thats true. Thats for sure, but weve already had a lot of changes, by the way. Just not imposing new rules is wonderful for the market and not kicking it and beating it like obama did every year. Just stopping and hurting the market will do good for the market and give us somewhat of an increase and then if you have positive policies added on top of that, my goodness, this market has no place to go, but up. Stuart okay, well right there, art. Because i think our viewers will like to hear that, this market has nowhere to go, but up. Art laffer on videotape. See you soon. Okay, sir. Stuart Dianne Feinstein wants Loretta Lynch investigated. Watch this. I would have a queasy feel, too though, to be candid with you. I think we need to know more about that and theres only one way to know about it and thats to have the Judiciary Committee took at that. Judge napolitano is here. Thats a front. She didnt say to have the senate look at it, to have the Judiciary Committee look at it. Why did she say that . Because theres a turf battle between the intelligence and judiciary. Judiciary have serious cross examiners on it and the others dont. Stuart the whole point she raises is that jim comey accused Loretta Lynch of a crime called misconduct in Office Making a decision as the chief federal Law Enforcement officer in the land based upon the political wishes of the president and the democratic candidate for president. Stuart so i would interpret that, thats legalese. I would interpret that as this is interference in the political process by the nations top Law Enforcement official in the election last year and for the Obama Administration. This is interference in the Law Enforcement, investigatory process for political purposes by the chief Law Enforcement officer of the land and this is the first time weve seen it articulated. Now, we knew that she told him to call it a matter. We knew that because fbi agents were teasing him. Youre now the director of the federal bureau of matters. He got sick of the teasing and dropped the matter and went on National Television and said its a criminal investigation,thats what we do, plain and simple, after calling it a matter for months, but he realized that this matter, this use of the word matter, and other phrases that she requested of him mirrored the phrases used by the clinton campaign, pardon me, to characterize what the fbi was doing. Stuart so, its not all going the democrats way. No. Stuart the comey hearings were rough on President Trump. You just ran a clip from senator Dianne Feinstein, senior ranking democrat on the senate Judiciary Committee, who wants to investigate whether or not the democratic attorney general, Loretta Lynch, got instructions from the democratic president , barack obama to put a spin on the investigation into Hillary Clinton. Stuart its not all bad to the republicans. Its not all republicans. But sad that an adds to the perception that Law Enforcement is political, very, very bad. Stuart it adds to my perception that the Obama Administration on several occasions interfered with the political process and used the machinery of government against republicans when youre talking irs and Loretta Lynch. Correct, and she condemned and said she took herself out of the hierarchy of the Justice Department because the meeting on the tarmac with bill clinton and bill clinton and Hillary Clinton herself were the political changing. Its interesting to hear from chuck grassley. Stuart thats why its top of the show. Oh. Stuart and ive got some geewhiz stuff for you from faebs. Wait for it. Theyre working on a way to let you type with your mind. On facebook. You think of a word and facebook types it out for you, no more keyboards. I have no idea how it works, mind waves, maybe . But were going to get into it. Thats dangerous. Stuart sure is. And sports, big time for the Pittsburgh Penguins, beat the Nashville Predators 20. And the Pittsburgh Penguins win back to back for the first time sense 1998. And Evander Holyfield inducted into the boxing hall of fame over the weekend, there he is, and look who is walking into our studio, yes, the man himself. Liz woo hoo the champion Evander Holyfield. Hes behind me, ladies and gentlemen, how is this . Listen up, heart disease. you too, unnecessary er visits. And hey, unmanaged depression, dont get too comfortable. Were talking to you, cost inefficiencies and data without insights. And fragmented care stop getting in the way of patient recovery and pay attention. Every single one of you is on our list. For those who wont rest until the world is healthier, neither will we. Optum. How well gets done. At crowne plaza we know Business Travel isnt just business. Theres this. a bit of this. Why not . Your hotel should make it easy to do all the things you do. Which is what we do. Crowne plaza. Were all business, mostly. Is this a big deal . The stock is going to be down a bit this morning. Were talking microsoft. Theyve got a new xbox one x console. 499 a pop, 100 more than the sony high end station pro. Watch the microsoft stock down a bit more. Big weekend for the boxer evand Evander Holyfield inducted in the boxing hall of fame. This is a big deal. It is. Stuart you knocked out mike tyson. Sure did. Stuart you were champion of the world four times. Four times. Stuart nobody else has done that. The best. Stuart youre making a lot of money out of this. Here is my point, it seems like boxing, classic boxing, marquis of queensbury rules, and who has taken over, mma, what does the boxer Evander Holyfield say to that. I dont think its taken over, were not publicized as much. So, people believe what they see on tv. Were not on television as much as we used to be. Stuart trouble is, i dont know who the current world boxing champion is, who is it . Joshua, the guy from alabama, cant believe it slips my mind. Deontea, the champion and whats the other guy out of england. Stuart oh an englishman, all right, well, em a im an american, but, you know, the champion of the world, you were a household name. Everybody knew your name. Everybody knew that you were the world champ and now, you cant even tell me who the mma champ the boxing champ is. I told you josh and deante are two of them, and parker. Liz youre talking about anthony joshua, right. Yes. Liz thats the worlds heavy weight, sorry. Stuart never heard of him, im sorry. Really . Wow. Stuart never heard of him. When i was a kid early 1960s, my dad and i use today watch a show bbc, black and white, big fight in america from Madison Square in america, its on decline, evander. Its not, but its because people dont talk as much the america ran the thing. Howard cosell use today talk about everybody. Stuart he did. Youve got a new agent, i believe, rep for endorsements. Yes. Stuart are you going to make some money . All about, a lot of things, i have the real deal promotion and iconic show, and so, its all about helping men to tell the people, you know, pretty much about Health Products and stuff like that. Stuart okay. What was your greatest fight . Id say the greatest fight, dwight in 1986, 15round fight and i won, but the toughest fight ive been in. Stuart he knocked you out. No. Stuart he didnt knock you out, but he really hurt you . No, i lost 15 pounds in that fight and youre kidding. Yeah, after that fight i would tell my manager, i dont know if i want to fight again. I kind of felt you lost 15 pounds in 15 rounds. Sure. 15 rounds. Stuart what was your worst fight . Well, raddic bow and the first loss against reddick bow, first time a guy hit so many times, but i came back and beat him and, yeah. Stuart do you train still and put the gloves on and hit the bag . I hit the bag, but dont get hit anymore. Stuart thank you for being on the show, good luck and im sure youll make millions and millions of dollars. Im sure. And the ceo of uber, he may be forced to take time, and well have more on varney after this. Will you be ready when the moment turns romantic . Cialis for daily use treats ed and the urinary symptoms of bph. Tell your doctor about your medicines, and ask if your heart is healthy enough for sex. Do not take cialis if you take nitrates for chest pain, or adempas® for pulmonary hypertension, as this may cause an unsafe drop in blood pressure. Do not drink alcohol in excess. To avoid longterm injury, get medical help right away for an erection lasting more than four hours. If you have a sudden decrease or loss of hearing or vision, or an allergic reaction, stop taking cialis and get medical help right away. Ask your doctor about cialis. Looking from a fresh perspective can make all the difference. And get medical help right away. 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You know, there really is a lot going on with uber. The companys considering a leave of absence for this gentleman, Travis Kalanick, Top Executive. Theyre going to bring in an independent executive on the board to face these multiple scandals that theyve got within the company. James freeman, wall street journal editorial guy joins us now. Can you put it in a nutshell . Whats going on with uber . Theres a big challenge here. You have basically a company, a fastgrowing startup. Valued highly, but unprofitable, trying to figure out where it fits in with this new world of technology and its basically been accused of having a cultural problem, which is resulting in a lot of executives leaving and perhaps people at the very top now eventually move on. Stuart is it bad behavior by the executives, risque behavior, bordering on harassment, that sort of thing . Allegations of harassment since february from a former employee and also a scandal in india where they were one executive fired recently, trying to get or did get information on a rape victim. I guess he thought it was some effort to smear the company. So, you also have a federal investigation. Maybe theyve been too aggressive in going into new markets. Local politicians hate them because theyve been breaking up the bureaucratic world of taxi cabs. Stuart but users like uber. And nobody says im not going to touch them with a 10foot pole. They have a cultural problem and need to behave better. If the manage amount behave better, they know how to operate a ride service. Stuart they will have to delay any plans to go public. I know theyre valued at 68 billion. I dont think theyll risk that valuation by going public in this climate and saying investors say yes or no. Its a tricky time. They lose 3 billion a year and what Travis Kalanick said an exsten sh exst exstential threat. If they decide to launch on an ipo road show, i think it will get a lot of questions. I do, too, if they decide to launch on that road show. James, stay with us, please. The big name tech stocks, huge losses friday and a real break in their upside move and more losses at the opening bell today for all six of the bigname Technology Stocks that we follow very, very closely. Overall the dow will be down and the big names down significantly more. Back in a moment. Whoa thats amazing. Hey, im the internet i know a bunch of people who would love that. The internet loves what youre doing. So build a better website in under an hour with. Gocentral from godaddy. Type in your idea. Select from designs tailored just for you and publish your site with just a few clickseven from your. Mobile phone. The internet is waiting start for free today at godaddy. All right. Weve got 45 seconds to go and this market will open this monday morning. All eyes on the big name Technology Stocks. As weve said many times over the last couple of years, its the big name Technology Stocks all americans have been raking in the money, investors money and stock market prices have gone up and up and up. On any setbacks, up and up and up until friday and all of them came down big and i mean big time, 4, 5 drops, some of the biggest names anywhere in the world in technology. How are we going to open up this morning. In four seconds, the market opens and our first check is the big techs. 9 30 monday morning, whats going on here . Were down just a fraction on the Dow Jones Industrial average. Were down 17 points and plenty of red on the lefthand side of your screen, ive got that. Look at the nasdaq, how did that open . A whooping great big drop on friday and down another 55 points right now. Almost another 1 drop. So, technology across the board taking it on the chin. S p 500 is down a me quarter of 1 , its a broaderbased market index. Now, look at, before we go to the big techs, look at ge, immelt, as in jeffrey, stepping down. Hes been there 16 years and the market likes it, rewarding with a 4 1 2 gain. The big story of the day, the big name Technology Stocks as they open this monday morning and will you look at that . Apple is down 5. 143 on apple. Last week it was 155. Amazon down to 965. Last week it was 1012. Facebook was 153, down another 2 bucks this morning at 147. Let me see alphabet. Microsoft, netflix, another these are more of the huge gainers, big Name Technology alphabet, thats google. Down 17 at 952. It reached 1,000 last week. Microsoft was 72, and now 68. Netflix also on the down side. Here is the story, the big name tech stocks, they are the big story of the day and the selloff is continuing. Big stuff. Joining us now, elizabeth macdonald. James freeman, scott shellady. Im starting with the tech selloff. Is this the dip or a sign of really big selling still to come. Scott shellady . You know what . Slow you roll and stay in your lane here. Two words for you here, lazy money. When they chase it up, on a momentum, and theyre really not just by justified being in the stock in the first place, these are the first people comings out. Thats whats happening. This is them on the exit as they took the stock higher on momentum plays and no right being in the stock in the first place. Stuart let me see how big the selloff is. Nearly 100 billion paper losses on friday. Stuart just friday. Liz just friday. What scott is talking about. Theyre responsible, the stocks, 2 5 of the s p 500 gain and adding market value to the overall s p 500. So its a lot of money at stake here, hes absolutely right. 600 billion equal to south africa and others combined. Paper gains so far this year for the stocks, so theyre up 600 million. Stuart paper gains of 600 billion, friday, 100 billion loss more losses today and probably 50, 60 billion as we speak. Liz possibly. Stuart james, youre not a stock market analyst, but im asking you a stock market question. Is this a dip or start of a selloff broadly based . Youre still sitting on gains if youre an investor. Earnings have been getting better, thats great. The stock has been rising faster than the earnings, has been increasing, so, you know, markets fluctuate and maybe this is a natural dialing down, given the huge runup lately . My question is, will investors start to jump in. If amazon is now 957, 955 as you see on the board there, will they jump in and expect it to go back to 1,000. Liz which stocks, microsoft is up sweetly. Could that be the breakout. Stuart do investors come back on the dip and buy because they think its a buying opportunities and its going up by the end of the day . Are they going to do that . You have to be optimistic about future growth. This gets into the debates how fast the economy is going to grow. If youre looking at fundamental analysis, theyre tough stocks to say theyre a bargain though, after recent drops, amazon is probably 170 times earnings or Something Like that, so, its really, its kind of a belief in how they grow in the future and they have been growing very fast and how fast the economy grows. Stuart now, the big winner among the dow stocks is general electric. Why is ge up nearly 5 . Thats a whopping great big gain for that particular company. Jeff immelt out at ge, the ceo for 16 years, hes done and scott shellady, was his tenure that bad for the stock for the company . In a word, yes. Look at the performance of that stock over the last 15 years. Its horrible, a bad loser on the dow and going forward, big investors, they lost their confidence. When they lose confidence, they op and finally, jack welch is always going to be a tough act to follow, too. He had a couple of bad things going his way, 15, 16 years later. This is what happened. Was it the Economic Times that did in ge and jeff immelt. Or him, what he did to the company . And he did have some challenges, a financial crisis, obviously, ge in the middle of it couldnt roll their commercial paper. Stuart they were a Financial Company during the crisis. I think maybe if we want to say, i know its been not the run that investors wanted, certainly not what the jack welch era was, but one thing thats nice, here is an executive who did learn from the financial crisis and decided he didnt want to be a too big to fail company anymore and didnt want ge to be that way and theyve become a more focused company and i know its been rough on shareholders at times, but taxpayers, i think youve got to appreciate that somebody didnt want that federal safety net and changed his company. Stuart well, there are people buying it right now on the expectation that it bounces back, nearly a 5 gain. And other stories that weve been following, retail ice age. Listen to this, a study from cornerstone capital, it seems like exaggeration, at least 6 million retail jobs are in jeopardy and by the way, moodys lifts 22 retailers at risk of bankruptcy and only listed 19 of risk of bankruptcy during the height of the crisis. These kind of studies, theyre looking at jobs that they think will go away because of technology and theyre generally not understanding the new ones that will be created. Obviously, very challenging for retail, but some people have figured it out. You look at best buy, given up for dead a while ago and they figured out that manufacturers of Big Electronics equipment want a showroom and theyre willing to support a company thats going to be there and not simply online. So, and you definitely, you have to have a creative strategy, but i think its probably pessimistic. Liz the stores up for bankruptcy according to moodies, looked like they carved out a niche. Theyre so underwater with debt. Charming charlie. Nine west shoes, neiman more cuss and true religion, now theyre at risk of bankruptcy . Its only just started. Stuart hold on a second, i want to turn to you, scott. Youre our european correspondent these days. [laughter], yeah, you are, look it or not. Aldy and lidle, German Companies going to build stores and sell creep groceries, do you think thats a threat to the walmarts of the world in america . What do you say, scott . Maybe not in the beginning, stuart, but what i can say is this, having been here now a while, the landed gentry and who you would hang around with here, they are slowly, but surely sneaking into those places under darkness because they like the stores better. Theyve gotten a lot of play here with the upper crust going to those places and kind of solidifying the market entrance. They could be a force to be dealt with down the road. Once people get familiar with them, theyre here to stay. Stuart the germans are coming, the germans are coming. Theyve thrown that at me all these years, the british are coming. By the way, the losses in ap and microsoft count for a whole lot. And by way, microsoft announced a new xbox xone console, 499 100 more than the sony. And theres a downgrade to apple and theyre concerned that the iphone 8 the enthusiasm around it is built into the price of the stock ap its down 4 . 143 on apple. Here is a story i want to get to. Geewhiz tech. Facebook is trying to get together so it types what youre thinking in your mind. Brain waves. Dont laugh, scott gentleman somebody tweeted me, the Democratic Party better not get on here, theres a lot of vulgarity delay. Its a delayed send. Its the idea na its a headband. Somehow flash a light into your eye and see what part of your brain is active and try to guess which words youre thinking of and then fine tune it with the help of 60 scientists to do thought texting, thought emailing. Its Science Fiction stuff, i dont know if its plausible. Stuart its dangerous. Liz dangerous for sure. Need a delay on the send button. I need a brain implant for sure. Stuart were ten minutes into the session, were down 16, 17 points, the story of the day is the huge drop still going on in those big Name Technology companies. Ive got to say goodbye to scott and to james. Thank you very much indeed. Monday morning, big show, off to a great start. Yes, thanks for being with us. Lets get back to amazon, the amazon is 20 dollars lower. President trump and daughter ivanka pushing a new plan for jobs and bringing back manufacturing and they say a Fouryear College degree may not be the right path for everyone. They want someone learning a tradein stead. Thats interesting. Apprenticeships, anyone . All right. What weve got here is a big board that shows a 33 point loss for the dow industrials. By the way, look at the bottom righthand corner of your screen, the nasdaq, the home of technology is down a whopping 82 points, way more than 1 . So i can tell you clearly that the selloff in big tech continues. Amazon reportedly plans to sell cars in europe. Tell me more, please, nicole. Nicole are they going to be the only company left in america, we buy our goods from them, they move to groceries and get everything in an instant. Now reportedly moving to cars in europe pushing some showers abroad in the United Kingdom under pressure and there are reports and theres one trade publication in germany, in particular, thats noting this, that they have already done the test market in italy, that they are planning to expand in the u. K. , and luxembourg and theyve now took an industry specialist, Chris Moehler to put him in charge of business car sales. Not only are they now talking about this . Theyre in the midst of hiring car sales executives so they can have european Car Dealerships for amazon. Right now, you see the stock is down 28. We know that tech overall has been under pressure. This is a whole new development for amazon and cars in europe. Stuart that stock is down 60 bucks in a couple of days. Thank you very much indeed. I want to focus on manufacturing. Look to is with us, drew gre greenblatt, the ceo of marlin steel. Ive got my pet theory here shall the way to bring manufacturing jobs back to america is to create the situation where youve got very cheap electricity. Am i on track with a good idea there . Its a critical element. You know, electricity, energy in general, its about we use about 40 , manufacturers. So theres a huge input and theres a big impact. The fact that were having all of this fracking and natural gas exploration, its driving the price of fuel and energy down and making a huge competitive marketplace advantage for american manufacturers, compared to korea and china and europe where they have much more expensive energy. So its a big benefit for american manufacturers. Stuart the president s whole Energy Policy is bring down the cost. Create it domestically and bring down the cost. Get rid of the Paris Climate Accord and encourage fracking. Do you see Real Progress in opening up the Energy Market and getting juice costs down . Absolutely. Because its, again, a big input cost for a lot of factories and these manufacturers, theyre competing with mexico. Theyre competing with china and korea and when their costs are higher, theyre going to lose and were going to win more and thats great for the American Worker and thats what i care about. We need more American Manufacturing jobs. Stuart yes, we do. The average wage is 83,000 a year and when energy costs are thats the average wage in your steel factories, 83,000 a year . That includes benefits, and if the factory is an exporter averaging the mid 90s, so its a tremendous benefit for the American Worker when energy costs are low because that really differentiates the American Workers opportunity versus the chinese or korean employee. Stuart i want you to deal with this one, drew. Ivanka trump is calling for work force development. Listen to this tape. Theres a viable path other than a Fouryear College experience, so really investing in vocational education, skillbased training. There are 6 million available american jobs, so were constantly hearing from ceos that they have job openings, but they dont have workers with the skillset they need to fill those jobs. So really bridging that gap and bringing experiencebased education to the forefront. Stuart drew, i think ivanka trump is talking about apprenticeships. Your reaction . Shes spot on. We have a disconnect. We have a big skills gap in america where we have colleges pumping out students that have abilities that dont match the needs of american factories and American Business in general. And also, not every High School Kid should go to college. Some, its better for them to get a vocational trade. Theyll do better. Again, in manufacturing, you could be earning, 60, 70, 80, 90 grand a year without a college degree. This is a path for some people, not all, and i think shes nailed it and right now the problem is that we have 40something different Government Entities spending billions of dollars and its diffused and its got to be organized and streamlined and weve got to get College Administrators im sorry, High School Administrators and guidance counsellors to realize that a path for everybody should be including vocational tech. Stuart we dont need student debt around some youngsters neck either. Drew greenblatt, appreciate it. Im moving fast because ive got two items up for auction at christies. Do you know what that is . That is is an enigma. A genuine enigma. German generals used to coordinate and hitler with that machine and its up for auction. On the front here, thats the first apple computer. One of the first Apple Computers built by jobs and wozniak. Both up for auction. Thats 1976. 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Remember, Medicare Supplement plans help cover some of what medicare doesnt pay. Youll be able to choose any doctor or hospital that accepts medicare patients. Whether youre on medicare now or turning 65 soon, its a good time to get your ducks in a row. Duck quack call to request your free decision guide now. Because the time to think about tomorrow is today. This youve got to see, it could be history and you could open it, a 1944 enigma machine and youre also going to see right now a 1976 apple one both items up for auction this thursday, the 15th of june. The auctioneer, peter from christies. Thanks for having me. Stuart ive got to start with the enigma machine. I was brought up on stories on this. Its a real one. Yes, its an enigma machine boy the forces. Stuart german navy. Specifically to communicate with uboats e this is the machine that they broke at the park and a movie was made of the game. How much. 300 to 500,000. Stuart i think thats cheap on the ground that this was central to world war ii and the british cracking the code was central to winning world war ii. Cheap, maybe, you could get the price up from there. And it works. Stuart it works . It does. Stuart turn it on. Very simple. Stuart and that turns a clog. That turns this clog to this one and this one and to the fourth, reflector back. Something like 159 billion, billion combinations. Stuart keep cheap, cheap, cheap. Next one, 1976 apple one computer. And you cant reach out, does it work . It works. It was purchased by the present owner in 1978 expanded to 12k. Originally had 4k ram, it plays chess, its a wonderful little thing. Stuart who would buy that and why . We have, ever since, you know, the computer revolution has brought about many, many tech billionaires and they love this stuff because this is the burst of the home computing age and brought us everything we have today. Stuart im looking at it, its made of steel. It is. When you bought the apple one, all you got was the logic board. Everything else you had to supply, the keyboard and monitor. Stuart all i would get in 1976 is the mother board, the keyboard i would have to get . That was considered revolutionary for the time. Stuart how much . We have an estimate 300 to 500,000 as well. Stuart the bargain is the enigma. If its the same place as the enigma. Ive got to say the bargain is the enigenigma. This is an online auction. Live and auction. Stuart youll have people in the audience with paddles and online. And joined by letters with lincoln and washington. We have a washington letter discussing espionage and specifically invisible ink. Stuart now, i want the enigma. You come back and tell us the selling price of the enigma because i want to hear that. Absolutely. Stuart peter, thank you for joining us. No, thank you for having us. Stuart different subject entirely, not good. Shakespeare in the park, summer tradition in new york took an ugly turn. The play, julius seize caesar, dressed like donald trump, stabbed to death on stage. I call that ugly. My take in three minutes. Often reveals a better path forward. At wells fargo, its our expertise in finding this kind of insight that has lead us to become one of the largest investment and Wealth Management firms in the country. Discover how we can help find your unlock. Also in new york, the puerto rican day parade, big guest, a terrorist, who manufactured bombs, there is no americans. He had been released by president obama. Some democrats. Actually embraced him. More from new york. Kirsten gillibrand. While describing President Trump proposes owe. Media called the demonstrators antiislam. That was not so. Very interesting, that the New York Times has a piece today, pointing out that extremists on the left are hurting the democrat party, gee, you think . Maybe moderates in the trying to understand violent resistance to all things trump will not attract voters. Maybe there are voices within the party who understand he is not going to be impeached. It should be evident that the contempt shown for our president encourages violence. They will not listen. Enough is enough. Youre not helping your cause and you are not helping america. The second hour of Varney Company is about too begin. When it comes to the tapes and it comes to testifying he ought to say what he means and if he does, well take him up on each case. I would like to invite the president to testify before the senate. I think we could work out a way that it could be dignified, public, with questions. Stuart now were going to deal with the democrats and President Trump in just a moment but right now im showing you the money side of the program today, which is a downside move for the dow industrials down 70 as we speak. Here is why. Big tech stocks, biggest of big names are down again and down significantly again. Look at this, apple is down nearly 3, 4 . Amazon back to to 950. Look at alphabet, formerly known as google, look at microsoft, netflix, all of them way, way down, big percentage drops all over again. I will bring this to your attention, ges jeff immelt stepping down as ceo after 16 years. The market likes it. The stock is up 3 and 1 3 . One more technology stock, snap hitting alltime low. It is back to 17. I want to get back to my editorial at the top of the hour. We call it my take. The democrats, theyre split and violent antitrump left appears to be taking the party over. Listen to senator Kirsten Gillibrand using an obscenity giving a speech at new york university. Roll tape. Has he kept any of these promises . No. [bleep] no. [laughter] instead [applause] instead, sorry, i understand this is younger audience. This is okay. Fundamentally, if we are not helping people, we should go [bleep] them . Stuart what did i just hear . I understand younger audience it is okay . What . I didnt know that. I did not see that particular, i did not know that. That was a shock. Sorry, that was a shock. Let me move on. Check this headline out from the New York Times, it read, and im quoting directly, democrats in split screen. The base wants it all. The party wants to win. There is a lot to go at for Fox News Contributor tammy bruce. First of all, i know its a young audience so that is okay, so you can drop an fbomb on young sisters. Someone advised her to do this, that is mistake, right . She was surprised she did it herself. She did it during an interview in front of an audience in front of magazine, almost exactly same line, almost like hillarys deplorable line, she used it in a script in variety of arenas. They think young people will relate to them if they sound sloppy or edgy. That is not going to happen. That is big mistake. All of us sometimes use swearing. Stuart we do. Sloppy way of speaking, certainly were not u. S. Senators in front of an audience in public. Like a child looking for attention. It worked. Weve seen her now in the news a lot, havent we . Stuart at the top of the hour i said enough is enough. This utter contempt for our president is leading to violence, is leading to a violent reaction against the president , witness shakespeare in the park. Yes. Stuart am i going too far . No. When you see this kind of dynamic people become inured to it. They see violence is natural, almost like terrorism, the left wants you to see terrorism as nuisance which is john kerrys word. It become as regular part of your day, when you see it, you dont have shocked rejecting reaction we normally would. When you have the scene in that play is remarkable. Even though the audience seemed to like it, a number of people spoke to press afterwards saying well, this was a little shocking and maybe we shouldnt be doing it. In the back of a new york city mind of an audience they didnt like it. The shakespeare in the park is supported by companies. The tickets are free. Theyre given out in lottery way but donors get tickets and guaranteed seating, you have thntire swamping of regular new yorkers in a beautiful scenario watching the murder effectively of a man who looks like donald trump, gory and aggressive, physical. I think that it is about normalizing and making it even romantic in a way attacking the president. Stuart im shocked to see it come a few days after the severed head of Kathy Griffin and other extraordinary developments in terms of the public demeanor of the left. Im liz totally incompetent. Tammy is right, you can not win over the rust belt, midwest voter who the Democrat Union worker, with swearing or gory displays like this. Stuart hold on a second because i have to move there is a lot of stuff to cover this morning and i want to get to it. Attorney general Jeff Sessions is scheduled to testify before the Senate Intelligence committee tomorrow about the russian investigation. Senator John Barrasso joins us now. Even with all the drama in d. C. , are you guys still able to make progress repeating obamacare and taxes . I want to press the point because so often we heard on this program yes, were making progress, yes, were getting it done. Can you guarranty it, senator . I am very committed to it, stuart. We are going to get it done. I agree, enough is enough. I was in wyoming, people want to focus on things important to their lives at home in terms of jobs, the economy, National Security and of course health care. So tax reform is important and critical that we get it done. The reason it is important so that we can actually get more people working and, bring back jobs from overseas. Bring back money from overseas, in terms of repatriation. Those are the things that we have to do, make product we create in this country more available to be sold overseas and more competitive. There are real reasons to get these things done. It is not just checking something off. It is getting it done to get the country going again. Stuart one more for you, senator, upgrading the infrastructure. That obviously is a big priority for you. Is this an area where congress can get things done quickly . There is bipartisan support, is this the one issue that you can really get to grips for them to do . There is absolutely bipartisan support. I chair the environment and Public Works Committee that oversees a lot of this. I met with every member of the committee. Theyre committed to getting things done. You talk about getting things done quicker, we need to make it easier to make the permits easier to get the job done. President donald trump a excellent speech on friday, it is 10 years to get the permits. We need to shorten that dramatically. Look the way they built the Empire State Building or pentagon less than two years. You cant even get permits to do that sort of work so there is a lot of work to be done. Donald trump can do at lot. The president can do it with his pen as he has done it before, regulation, getting rid offing arelations. People in wyoming are very happy with the things President Trump has done to the move the economy ahead. We need to do more and infrastructure is a big part of it. Stuart real fast, senator, would you favor doing away with the filibuster entirely, so everything before the senate gets 51vote massessage, would you do that, would you favor it . I was willing to do that with the Supreme Court. You asked the question should we do that on legislation . If they had done that, when president obama was in the white house, and nancy pelosi was speaker of the house and harry reid and harry reid was leader in the senate, what we would have now are higher taxes, we would have singlepayer health care in this country and we have legalized sanctuary cities all across america. It was republicans slowing that down through use of the filibuster that prevented us as a country to have run amok. Stuart so the answer is no, keep the filibuster . Okay. That is fair point. Fair point. Senator, im so sorry im out of time. As usual it is a rapidfire news day but thanks for joining us, senator. Thanks for having me. Stuart yes, sir, thank you. Uber facing some serious problems. A Top Executive planning to resign and the companys ceo may take a leave of absence. What more do we have on this, liz . Liz threemonth leave of absence. What the board investigation found, it was led by former attorney general eric holder Travis Kalanick, had a lot of autonomy, a lot of independence, set a freewheeling, brash, looked like out of out of control culter. 250 sexual harrassment claims. Think foiled government regulators from taking rides with uber. Whether uber can reset and reboot, they face 68 potential valuation ipo. Wall street is taking a close look at that that number could come down. Stuart i suspect it would, thank you, lizzie. One, one Winning Ticket for the weekend powerball jackpot, it was sold in california. The grand prize . 447 million. Got it. Also ahead, we have the man hine the effort to get conservatives to move from california to texas. Wouldnt that dilute the dozen or so conservatives who are still in california . I dont know. We have the man who is promoting that. He is on the show. One princeton physicist says Global Warming is rubbish. The earth is actually cooling. He is with us later this hour. Oh, yes, you are watching the second hour of Varney Company. Times up, insufficient were on prenatal care. Es. And administrative paperwork. Your days of drowning people are numbered. Same goes for you, budget overruns. And rising costs, wipe that smile off your face. Were coming for you, too. For those who wont rest until the world is healthier, neither will we. Optum. How well gets done. Stuart big news out of general electric. Longtime Ceo Jeff Immelt is stepping down. The market likes it. Gerri willis with more on what is going on. Thats right, stuart. This company struggled with the winning wall street approval. He started out well enough. Take a look at stock screens comparing their stock to what is going on with the broader markets, both s p and dow. That company did well until about 2009. In the wake of that, the stock, well, it didnt do as well as the broader markets. Stuart when he took over the stock was about 40. When leaves it is under 30. I have to tell you they are under pressure from Companies Like triad fund management, look, you have to cut costs, you have to do better. Two moves they made not liked by wall street. Giving away nbc. That is the general take selling half of the company to comcast. They sold it way undermarket value. Way under what they thought it should have been sold for. Look at baker hughes. That deal, the company expecting some kind of a big boom in oil prices. Weve seen a gain but were still not back through 100 a barrel. So real concern, real issues with this. I have to say, this has been a disappointment for wall street, what immelt has been able to do with this company over the last 16 years. Stuart then again i would not be wishing to take over a company which previously been run bit great jack welch. It would be different cut, wouldnt isnt. That would be difficult this is a 300 milliondollar market cap, its a massive and huge company but where do you drive it in the Technology Area . What do you do for a living . What makes money . What makes sense . Still struggling some ways to defined that. Stuart stuart wellsaid, gerri, thank you. Now this, our next guest he is helping conservative families move to conservative areas of the country especially texas. Paul chabot, founder of conservativemove. Com. Paul, i disapprove. How will you win, how will republicans ever win in place like california or new york state with all the conservatives move to texas where theyre already winning . I think that would make quite difficulty, youre correct on that assumption. Look, im a father. I have got four kids, ages nine, eight, seven, four. My wife and i were born and raised in california. 43 years. I was in the Law Enforcement, military. California is no longer same state were raised in. Crime is out of control, taxes, lack of goodpaying jobs. Illegal immigration is now a problem. We decided no longer a place to raise our family. This idea came as accident. At going away party, a lot of people asked us about moving to texas as well. Weve been in texas five months. Love it. Great state to raise a family. We launched a business which is national model, helping families relocate from liberal areas into conservative areas of country starting in north texas. Stuart tell me the response so far. Give me the business response. How many customers have you signed up . Yeah. Stuart if youre relocation service, how many families have you helped . Over 1000 families have signed up. Weve been in business for eight days. Stuart eight days. Eight days. It has exploded on national level. So were pleased but what it shows, stuart, what we want people to understand, not only are we a business, a capitalist idea, we get that. But we want people to have broader conversation about what makes up a good community, the Safe Community with conservative values. Great schools, great jobs, low crime. Those things dont exist in the liberal bastions of california wees caped from. Stuart so far you talked about california. Are you encouraging people to move from new york or new jersey or connecticut or massachusetts for heavens sake . I take it you favor a move from any blue state . We absolutely will. We now have families from 40 different states looking at our corporation to help them, and i will say well be expanding beyond north texas into many other regions and states across this country. This was just a grassroots local movement but exploded quickly. Stuart paul, real fast, do you find them a job . Do you find them a home . That is critical. We have realtor on the back end, front end, conservative realtors on the knows regions well. We have links where people can find jobs. North texas is booming. Tons of greatpaying jobs out in this region. Stuart perhaps we should have the other way around, encouraging liberal folks to move to california . We would like to start a liberal move as well. Stuart, maybe we can work on that together. Stuart i think you should. Good business. Paul, thank you for joining us. Thanks for having me. Stuart different. Antisharia law protests in several cities over the weekend. Masked leftists clashed with them. The media played it all as an attack on islam. You wont believe this, but well deal with it in a moment. Stuart the big story of this day on wall street is more Technology Stocks on the downside joining the big five also on the downside big time. Look at that, netflix, adobe, twitter, yahoo , all off percentage terms. Twitter at 16. We have the share price of fedex. It is down just a fraction. Earlier it touched 208 a share. That was an alltime high. We have an Investment Firm saying it will hit 216, backing off just a little at this moment. Now this, antisharia law rallies took place in two dozen cities across the country this weekend. Counterdemonstrators called the rallies antiislam, stopped them, basically, threw a few punches. Tammy bruce is back with us. Im astonished here. How is it that you can protest against the mutilation, general knit tall mutilation, you can protest against burning of homosexuals and subjugation of women and youre called a racist. American muslims dont want this dynamic into their cities. 100 girls in michigan. Feds are making female genital mutilation, homosexuals thrown off buildings in middle east. No one wants that in the United States, certainly not american muslims. It is little ironic, theyre effecting confirming this is something muslims want. That muslims should, many have been supporting this move to make sure that that kind of, not even fundamentalists but this twisting of the religion in order to subjugate people were seeing around the world this, is actually promuslim, certainly americanmuslim, prowomen, everything the left supposedly says they stand for. Stuart they said it was antiislam. Almost uniformly, not antisharia law, no, antiislam. There are many conservatives and Trump Supporters in the group. Anything that might make the president look good they have to be against. This is problem where theyre digging themselves a hole in this country. Stuart bringing violence into it. Pretty extraordinary what is going on in this country. Thanks very much indeed, tammy. Serious stuff going on. Sure is. Stuart sponsors pulling out of shakespeare in the park production of julius caesar. Instead of caesar being stabbed a character who looked like President Trump dies on stage. A great deal of blood. Were all over that story. President trump considering paying for the border wall with solar panels. The functioning of the wall would be paid for with solar panels. One Company Actually made that proposal. Were talking to that company next. [vo] when it comes to investing, looking from a fresh perspective can make all the difference. It can provide what we call an unlock a realization that often reveals a better path forward. At wells fargo, its our expertise in finding this kind of insight that has lead us to become one of the largest investment and Wealth Management firms in the country. Discover how we can help find your unlock. Stuart okay. Check that big board, down 40 points. The loss in the dow is accounted for by big losses in those Big Technology companies. Bottom righthand corner of your screen, the nasdaq done a whopping, 67, 68 points, big tech names. Apple down another 3 . Alphabet down another 1 . Ftse back to 950. Netflix at 150. Bottom line, big tech way down again in the early going in the first hour of business this month morning. Outrage growing about a new york shakespeare in the park production of julius caesar. The main character is a President Trump lookalike. He gets stabbed to death on stage. Delta, bank of america dropped sponsorship of the play. Others have not dropped their sponsorship. Fox news media buzz howard kurtz joins us now. Howard, i have to say, i think enough is enough. I think this kind of public display of violence directed towards our president , encourages violence. What say you . Not sure if it encourages violence but certainly is, just a new low in a culture, in an entertainment world, stuart, feels free to do any vicious depiction of President Trump. This makes Kathy Griffin look like a girl scout. This is repulsive idea to have this clearly trumplike character, stabbed to death in front of a American Flag by a bunch of senators, call it art is perversion of shakespeare. Stuart what about the media . Same thing is happening in the mood he yaw. I think that is the encouragement to violence. Well you know, it is interesting, isnt it, one of the sponsors of this new york Public Theater of rendition of trump as caesar is the New York Times. I will be surprised if New York Times follows lead of delta and bank of america, pulls its support. New york times extremely stuart they are taking their time like cnn they fired the host who tweeted obscenities about President Trump following the terror attack in london. This is what he tweeted, this piece of, im not going to say it, you know what it is, this piece of is not just an embarassment to america but embarrassment to humankind. It took days to get rid of this guy. I think the establishment media is, police it in this contempt for our president which leads to violence. That is my premise. There is a lot of contempt, not in every single corner of the Mainstream Media but certainly in a lot. Here cnn, which is, airs a lot of antitrump commentary and even tilting against the president in reporting it took a week and seemed to put out this very mild statement,well, this was never appropriate and aztlan apologized. As pressure built, quietly on friday afternoon which is when the government tries to bury its bad news quietly, dumped the guy as host of one of the it is shows. Stuart weve called the media on this i have been quite extreme about it frankly. Has anybody else . Well you know, when the Kathy Griffin thing happened there was a National Wave of repulsion against her which pressured cnn into dropping her. This story about shakespeare in the park starting to get some traction. By and large there are some folks in the media that have outright disdain for President Trump, that it doesnt strike them that this is a terrible thing. You know, again, you can disagree, you can challenge him personally, politically, professionally, but this sort of violent depictions can, calling him a piece of excrement and all of that is beyond the pale. Have some minimum respect for the office. Stuart why do you think it is this group of people, i will call them the elites, this is true throughout the western world, utterly contemptuous of conservatives, free markets, capitalism and donald trump especially. Why is that . I think those who fall into this category are even more contemptuous of donald trump because he is not a establishment conservative, somebody who does things traditionally, even though they might disagree idealogically. There is builtin disdain for a guy who they dont think ever should have been president. They cant believe he is in president. They dont like the way he, sort of pugilistic style to the presidency. Even if youre a commentator, there are lines of decency you shouldnt cross. Zooms like one of these comes up every day, stuart. Stuart did you see it coming, howard, last question, ive got 30 seconds, did you see this coming . I thought there would be a lot of media opposition to donald trump. I did not believe there would be this level of viciousness and cultural disdain for the president , his family. It really has gone too far. I think those of us in the press need to recognize that. Stuart wellsaid. Howard kurtz, thanks for joining thus morning. Good o see you, stuart. Stuart yes, thank you. Now this, President Trump reportedly considering putting solar panels on top of his planned border wall as a way to help offset the cost. Joining us bruce blakeman, he is from sustainable technologies, llc, and it was your idea, bruce, was it not . Well, yes,yes. Not just me. It was our group of designers, engineers, investors, Homeland Security experts. We have a very eclectic group of people involved in this. Stuart you think you can get all these people together, build the wall and pay for the building of the wall and operation of the wall just with solar panels . That is a bit of a stretch, bruce . I dont think it would finance the whole border barrier but certainly most of it. Basically if you look at the cali. Nte model, 6,000acre solar farm, with he produce the same kind of energy. Stuart that is is the design on the screen. That would look like that all the way along a vast solar panel display. The top would be the note voltaic energy gathering component and bottom is steel mesh, 30 feet in height, exceed department of sescations of Homeland Security and General Services administration. Stuart you will produce all the electricity from the border wall, that is enough money to pay for it to be built and pay for it to operate . It wont pay for all of it but pay for substantial part. Stuart how much would it generate, how much electricity would it generate per year and how much would that be of value . We think it would generate two million megawatt hours per year. Stuart how much . I have no idea. Lets take a look at the current market which is between 30 and 50. Youre talking about 120 million that it could potentially generate. Stuart wait a minute. The thing costs a couple of billion to build . Between 3 and 4 billion. But you would finance between bond financing. Stuart okay. You guys, sustainable technologies, you would issue bonds and say, right, were going to build the wall, buy a bond, contribute to building the wall, well pay you interest on the bond with the electricity funding . Correct. Stuart thats it. Guaranteed by the federal government that they will purchase our electricity. Stuart so the taxpayer has to guarranty they will purchase your juice at certain price . They have build it anyway, they have to pay for it. We think we can knock off between a onethird and half of the price. Stuart did you get to the president before he made that sort of semiannouncement thinking of solar panels. The rumor he saw us on fox business news, he saw our design and that he in fact started talking about it as a viable idea. I dont know that to be a fact but that is a rumor. Stuart has anybody from the administration contacted you . Not as of yet. Stuart have you submitted your stein as a wallbuilder . Yes. We submitted our design, but we are getting the traditional pushback from the gsa wants to do it traditional way, here is rfp. Companies will build the wall if you pay for it. We want to build the wall and construct it in Component Parts in the rust belt, selleck tryst to the grids and southwest United States and mexico so mexico pace for part of the wall. Stuart would you agree your idea is a bit of a stretch . It is eminently doable especially with this president who challenged us all to think out of box. Stuart how much have you spent on the design . Our investors put in couple hundred thousand of his own money. Well generate interest from this show and other shows. Stuart one investor. Yeah. Stuart kill will you tell me who that person is . Dr. Malcolm herzog a entrepreneur from city of chicago, illinois. Stuart, fascinating stuff. You might want to come back talk to us a little more. I would love to. Stuart thank you, brad. New Jersey High School photoshopping, protrump slogans out of yearbook photos. Tammy what is your reaction . That is is the High School Photo he wanted in yearbook. That is the one he actually got. Two examples of high school. One father of one of these young men was that they have seen in the past obama shirts were in the yearbook. There is one photograph in the current yearbook of a reaganbush tshirt that was not photo shopped. What they want for these yearbooks to be reprinted because for these young men, first election they were interested in. They were very excited about it. And they checked on if there was any dress codes. There werent. And so they want to reissuing of those yearbooks so that these young men have their appropriate history. Liz doesnt that cost money to do all this . Isnt this extra costs to do things. Stuart whose side are you on . Liz im saying no censorship, it costs money to do censorship who is footing bill . That is where people look, through the pocketbook. Stuart tells the story that trump is verboten in our high schools . Liz yes. Stuart in Education Today you may not be a trump supporter and certainly may not show it. Just like reagan in the 70s and 80s. Stuart worse with trump. Somebody made a choice to do it direct blatant way, when they paid for pictures, got individual pictures, the pictures were not changed. They were only changed in the yearbook. So it means that somebody was making that choice. That person frankly we should know who that was. Stuart i would like to know that. Bring them on the show. Why did you do that. Liz free speech. Stuart the pittsburgh pen penguins won the stanley cup, First Time Since 1998 to win backtoback titles. There is the trophy. Coming up one princeton physicist the whole basis of the lefts alarm on global warning is is flawed. He took on bill nye, the science guy. He will join us. Im Lauren Simonetti live from the nasdaq marketsite where were seeing nasdaq after suffering its worst week of the year last week continuing to sell off this monday morning. Apple getting a second downgrade in a week, this time from mizuho, iphone 8 is already priced into the stock. Look at facebook, amazon, netflix, microsoft, alphabet, all down sharply in pullback territory. Not just social Media Companies and gadget makers are selling off today. Applied materials, nvidia, theyre down sharply too. That is the latest from the nasdaq marketsite. Im Lauren Simonetti. Stuart varney continues with varney and co. Carbon dioxide is perfectly natural gas. It is just like water vapor. Muchs a i love youre doing disservice, having one Climate Change skeptic and not 97 or 98 scientist. The whole basis for alarm ill is not true. It is based on flawed computer model egg. That is completely wrong. Stuart you heard a short part of it there. Scientist bill nye and physicists William Harper a exchange on Climate Change on cnn. Mr. Happer, who is a professor at princeton joins us now. You believe that the earth is not warming . It is in fact cooling, that accurate, sir . No. I, you know, you can look at various data sets and you can see that the earth actually is warming very slightly, you know he. The surface base data show more warming than satellites but the warming is much, much less than the computer models have predicted. So that is the point. You know the way you tell the truth in science is not by voting on it. You compare your theory of how science works with observations and if the theory agrees with observations, its, that is a good sign. May still not be right but at least not wrong on that basis. Stuart but you dont you dont very often get a public forum to state your case, and bill nye didnt want you on the program with him. Well, that is pretty typical of, you know, movements like this. Theyre quasireligious, and like stating, you know, a religious heresy. Stuart im not a scientist. Our audience is not necessarily a scientific audience, were presented 97 of all the climate scientists believe the earth is warming and humans who are to blame. How do we respond . I mean, how do you respond to Something Like that when you say the science is in . What are we supposed to say . Well, first thing you should do is check where that figure comes from. It is complete nonsense. The surveys have been discredited many times, but the second thing is, as i say, science is not determined by vote. You know, were very proud at princeton of James Madison who helped write the u. S. Constitution and one of the points he made in arguing for the constitution, i will read it for you, i have it right here, it says no man is allowed to be a judge in his own cause because his interests would certainly bias his judgment and not improbably corrupt his integrity. With equal, with nay, greater reason body of men are both unfit to be judges and parties at the same time. So the climate scientists they want toking judges and parties of the same time of their story. Stuart i got to tell you, professor, we dont often have princeton professors quoting the constitution on this program or any other but we would love it. We love it. I have to throw one more at you. President trump takes america out of the paris climate agreement. We got that. Now the french are trying to hire u. S. Climate scientists. Perhaps those who see things their way. Your reaction to that . Well, im an experimentalist. I think we should test it. So i hope some scientists will apply for a job in france. You know im willing to apply for one. I have some time now that i retired. Writing a book. Stuart you wouldnt get the job, would you. You wouldnt get the job. . Not likely. Stuart professor, william happer, princeton what a pleasure to have you on the show. You can quote the constitution any day you would like on this program. Thanks very much, indeed, professor. Thank you, stuart. Stuart see you again. Were keeping eye on various groups of stocks in particular the airlines at this moment. Got red arrows across the board, all down, one, two, 3 . That is a big drop for airlines. Maybe that has something to do with the price of oil which bounced back 1 today. Here is the other big stock story, that is the continuing decline of those bigName Technology companies. Apple, amazon, facebook on your screens right now, all of them down again with big drops on friday. More for you, alphabet, formerly known as google, microsoft, netflix, down again. Again they follow big drops of friday last week. Tech stocks under continuing pressure. Next case, iran kills the terrorist behind last weeks attack in tehran. Liz havent revealed his name in mountainous region southern part of iran. Five people were killed. They think mastermind behind that attack killed 17 in iran. It was an assault on parliament and also on the ayatollahs gravesite. In possession they found weapons, explosives and isis flag. So the fear is, iranian kurds could be hooking up with isis to infiltrate iran. Stuart got it, thanks, liz. President trump will hold his first full Cabinet Meeting in the next hour. We expect the president to Say Something at the top of the meeting well bring it to you when it happens. This is the second hour of Varney Company. Your Insurance Company wont replace the full value of your totaled new car. The guy says you picked the wrong insurance plan. No, i picked the wrong Insurance Company. With Liberty Mutual new car replacement™, you wont have to worry about replacing your car because youll get the full value back including depreciation. Switch and you could save 782 on home and auto insurance. Call for a free quote today. Liberty stands with you™. Liberty mutual insurance. Stuart could be a little bit of history and you could own it. That is 1944 enigma machine and 1976 apple computer. The auctioneer, Peter Cornett from christie es. Thank you for having me. Stuart i have to start with the enanythingma machine. I was brought up with stories about this. This genuine one . This is m4. Special enigma machine used by Naval Service specifically to communicate with uboats. Stuart this was the machine which the british broke at leslie park, it was made into a movie called the imitation game. It was. Stuart how much for this. 300 to 500,000. Stuart i think that may be cheap. On grounds this machine was central to world war ii, british cracking it, cracking the code was central to winning world war ii. Very much so. Stuart cheap, baby. Come on, you can get the price up from there. Yes and it does. It works. Stuart it works . It works. Very simple. Stuart that turns a clog. This turning this clog into this one, and into the fourth it is reflector back. Something about 159 quintillion combinations. Stuart cheap, cheap, 300,000. Thats right. Stuart nix one, the 1976 apple one computer. Yes. Stuart you cant reach over, but does it work . It does, it works. It was purchased in 19, by the present owner in 1978. It was expanded to 12k. Originally had 4k ram. It plays chess. It is a wonderful little thing. Stuart but, who would buy that and why . We have, ever since the computer revolution has brought about many, many tech billionaires, they love this this is the birth of the home computing age, this brought everything we have today. Stuart the big money story that we focused on for the last 18 months is the rise of the fabulous five as we call them. Big American Technology Companies Whose stock prices have literally gone through the roof. To put it mildly, they have come off of those highs. Most people who have any investment in the market have a piece of this action. Those people are clearly and reliably and righteously anxious. While, this is now, amazon, apple, facebook and microsoft all of them down this morning. We dont predict the market, we leave that to the people that are paid to predict the market. But for what it is worth, thats my opinion. Theyre in these tech stocks for the longterm, most of them, i think, will stay in waiting things out. They have made big gains, they dont want to pay the tax if they sell. Then there are traders, these are the people that buy and sell by the minute, if not by the second. They have probably been doing some selling but will be eager to buy back in to catch any rebound. Bottom line, this is very different from the. Com bubble. The success of the fabulous five is based on real profits and real growth and the prospects are much more to come. Countless dot coms went belly up. The fear that happening again is live and well and keeps things in check. Its a dip and not a bust. In a few minutesly ask someone with actual skin in the game if he agrees with that assessment. The third hour of Varney Company is about to begin. Yes, we are all about money in this program and we will get to money but i want to take a look at the white house where President Trump is holding full Cabinet Meeting. We will bring you any headlines from that meeting. We expect the president to Say Something on camera. We will, of course, bring you that immediately as we get hold of it. Check the big board. Dow industrials down 30 minutes, most of it is caused by the bigname Technologies Companies which are way down again. Look at that, we have apple, amazon and microsoft down percentage points. Googles Parent Company microsoft and netflix, all of them are down as well, all of them coming back a fraction from the losses of maybe five, ten minutes ago. Is there this a repeat of the dot com selloff or what is it . The the answer to the second question, this is where the growth is happening and this is where the growth will happen. Stuart our viewers are investors, many of them, all have a small piece, they have a piece of this action, ul not advice panic selling at this point, correct, keith . I wouldnt advice panic selling. Its a different thing if you need the money but buy and must be. Buy and manage, you go where the companies are. The world needs what they produce. That to me says you know what, you bite your tongue and wait in. Stuart dagen stockman, former reagan budget director says the s p 500 could be in 35 selloff and also says wall street is not rational right now. People have been make those predictions since the dawn of time, stuart, particularly the perma bears. You have to take that with a huge grain of salt, if youre managing what we just talked about, we are going to be just fine. Panic is not what you want to do. You have to look carefully. A lot of these guys talk their own book, this is a lot of whats driving the sales. Goldman came out and said these things are overvalued. Some element was probably short before they released report. I have to ask you general electric, longtime ceo immelt will step down. Flannery will take his place, shares up on that news. Now, would you step in and buy some ge now at 28, 29 a share bearing in mind that under immelt stock has gone from 40 to under 30. Its very attempting but the reason i wouldnt step in, stuart, i dont think the company know what is it wants to be when it grows up. Under josh welsh you knew what it was going to be. Stuart thanks for holding everyones hand through maybe a panic period. We appreciate it. Keith, everyone. Some liberals are leading a violent opposition to President Trump. Thats causing tension in the democrat party. Fox news contributor Mercedes Schlapp joins us now. I think its producing element of violence. I say enough is enough, what say, mercedes . All the celebrities in hollywood who obviously the American Public are watching and theyre seeing them take on this role that goes almost beyond it takes a Resistance Movement to the next level which is clearly to the point of indicating, planting seeds of violence. We saw Maxine Waters in event in california and you saw what griffin did with her photo or image. We saw the case in new york where you had this play where you they were pretending to as is nate donald assassinate donald trump. I think its something that the Democratic Party need to be careful that they dont produce this environment where the Resistance Movement gets to appoint that it leads individuals, part of their base to say, you know what, what if you do perform a violent act against the president and move forward on Something Like that . What about kristin, democrat senator from new york which over the weekend speaking to a college audience used the frecord and followed it up by saying, thats okay, because i know this is a young audience. I just get the feeling that middleamerica, average america is about done with this. It does not like it. I had a friend how difficult it is from individuals not graduating from college that is the messages from democrats is dark and negative and antiamerican because their whole focus is to be so highly critical of the president and you also saw the Dnc Tom Perez use the fword and simply like they cannot control their temper and anger and i really think that the American Voters are going to read see through them and basically realize that if they go in this Resistance Movement where theres no solution to policy and no willingness to work with republicans and the president , i think its going to be very hurtful for the party if all they focus on is justenergizing their liberal base by saying the Resistance Movement is the only way to go. Stuart one big move from the president on taxes would clear the air and hear a lot less from this stuff from the left. 20 seconds, do you agree with me . I do agree with you. I dont think its not just about talking about tax reform but finding a solution for obamacare. You know, i really believe its talking about jobs. This week is about workforce development, apprenticeship, all he needs to focus on, primary focus is to bringing jobs to the communities. If he stays on the economic message which he did during the campaign it could be a winning message come midterm elections. Stuart the economy is doing quite well and will do better if we get a tax cut. Much appreciated. James comey told smat Intelligence Committee that the fbi lied. The president is right, listen what he said on the program a month ago. How would you describe fbi morale at this point . I guess its going to be a lot better because they really were starved for leadership. D. At wells fargo, its our expertise in finding this kind of insight that has lead us to become one of the largest investment and Wealth Management firms in the country. Discover how we can help find your unlock. I did active duty 11 years. My in july of 98. And two in the reserves. Our 18 year old was in an accident. When i call usaa it was that voice asking me, is your daughter ok . Thats where i felt relief. It actually helped to know that somebody else cared and wanted make sure that i was okay. That was really great. Were the rivera family, and we will be with usaa for life. Usaa. We know what it means to serve. Call today to talk about your insurance needs. Although the law required no reason at all to fire an fbi director. The administration then chose to defame me and more importantly the fbi by saying that the organization was in disarray, that it was poorly led that the workforce had lost confidence in its leader, those were lies plain and simple. Stuart that was the headline from the comey hearing, the president lied. Lets backtrack a little. President trump said that morale of the fbi was low, comey then said that is a lie, lets bring in someone who knows what hes talking about on this, former fbi assistant director james. Was it a lie . I dont think it was a lie. I think he disgraced hymn. His actions disgraced himself. When he had that that referral come over and say you cant call it an investigation and by the way you cant have a grand jury, thats the day he should have stood up for the American People and resigned. And tell people and he didnt and danced with the devil and kept danced with the devil and the muis stopped on that day when he had the press release in which he was so far out of bounce and far beyond the rules and ended up with a ridiculous statement that Hillary Clinton could not had no intent because she didnt know what was going on. Thats just a pathetic answer that really infuriated the agents. Stuart would you hold on for a second. I have breaking news and this concerns the testimony of attorney general william Jeff Sessions. Liz, what do we have on this . Liz hes going to testify before Senate Intelligence offered to do that before Intelligence Committee and he was going to testify in front of appropriations committee. Now he wants to possibly rebud James Comey Testimony last week about the nature of that meeting between james comey and the president and also james comey raised the issue that possibly there could have been a third undisclosed meeting between Jeff Sessions and the russian embassador. We are going to watch to see if Jeff Sessions rebuts that and senate intel accepts opensession testimony. Stuart thats important. The public can watch on television . Liz 2 30 eastern time tomorrow. Stuart thats very important. One more for james kallstrom. It was comey felt queasy when lynch told him to call the investigation a matter and not a criminal investigation. Listen to what Dianne Feinstein had to say about that. I would have a queasy feeling too, though, to be candid with you. I think we need to know more about that and theres only one way to know about it and thats have the Judiciary Committee take a look at that. Stuart let me put this in context. The highest Law Enforcement official in the land tells the director of the fbi, thats not a criminal investigation, you refer today that as a matter. That i believe, is political interference in the fbis business and they have no right to do that and you say what . I counteragree more. Strange guy with this great education and zero common sense in my view. Its just weak. Hes just a weak person. Hes getting queasy because somebody hands him, you know, a grenade and hi accepts. You know, he accepts it from her without being furious that hes not representing the people of the country just like when he shut down the investigation into the clinton foundation. Did he write a memo then, i dont think so. Stuart should the president of the United States hold a oneonone meeting with the fbi director and hint to him that maybe b drop that investigation, walk away from it, move on from it, the president shouldnt have have held the meeting in the first place, should he . I would have had liked to have someone nels the room with him and talk about these things. I dont think he went over the top. This guy was a war hero, this general, i mean, did he make a mistake, yes, but there wasnt even a criminal investigation. It was a counterintelligence investigation s. This guy going ruined for life, i dont know why he didnt tell the truth to the Vice President , its kind of crazy. I dont think the president went over the line. I think comey he went over the line and hes playing political cards that we are finding out now hes been playing for a long, long time. Stuart james, always a pleasure to know somebody who knows what they are talking about from h years experience. And youve got it, thank you, sir. Thank you, sir. Stuart all right, right now President Trump is Holding First full Cabinet Meeting, we will bring you headlines of that meeting as soon as they come in. Big night for Pittsburgh Penguins. They Beat National predators, game six, two nothing, back to back wins, Daniel Burger won the ed esm st. June classic. Ten under the win the cup. Take a look at how it closed out. It would give outright lead at 15. The leftedge put. [applause] what a pleasure, thank you. Stuart you can watch this, video of jimmy carter on a commercial delta flight going from washington, d. C. To atlanta. This was last thursday, made an effort to shake hands with everybody on the plane. A very popular president now. Hes a good man. Hes 93 years old and recovered from brain cancer. Liz 93. Stuart what a man. How much would you pay to have lunch with ceo warren buffet, 2. 7 million, thats how much one fan bid to eat with buffet, raised 25 million since it began 18 years ago. Someone in Southern California just won all 448 million of the powerball jackpot, tenth largest lottery price in history. Lucky ticket had all six winning numbers, the odds of getting them right, one in 292 million. Some day soon you may be able to ask alexia for your blood sugar level. Amazon has challenge for developers, get out and find a way for amazon echo speaker toho diabetes. Giver alexa the ability to ask questions, what have you eaten today, did you take your medication, set up calls with the health coach. The price is 125,000 to the developer who can figure out how alexa can ask and cocacola getting rid of cocacola zero. Coke say it is new recipe tastes even more like the original. We remember it well. Right now President Trump is Holding First full cabinet mealing, we will bring you the headlines from the meeting as soon as they come in. By the way, toed the deadline for opponents of president s travel order response, could bit the Supreme Court will rule on the travel ban case, napolitano is next on that at fidelity, trades are now just 4. 95. We cut the price of trades to give investors even more value. And at 4. 95, you can trade with a clear advantage. Fidelity, where smarter investors will always be. And at 4. 95, you can trade with a clear advantage. At angies list, we believe there are certain things you can count on, like what goes down doesnt always come back up. [ toilet flushes ] so when you need a plumber, you can count on us to help you find the right person for the job. Discover all the ways we can help at angies list. The American Dream is back and no where is that more clear than the grand canyon from arizona, we headed from the strip to the desert to explore the new landscape and live the American Dream. Stuart well, im living the American Dream so we figure we show that had clip there from the new season of the property man which adds on fox business. Host is bob macy and joins us on the program. Thank you, stuart. Stuart Mortgage Applications for new homes are 7year high. Mortgage rates below 4 . Housing sales, pretty strong. Home prices on the upside. All of this good news and yet i am told that Home Ownership at the lowest level in 50 years. Do you want to explain this . Very complicated picture. I read this report that its several years of explaining and a lot of different issues. First of all, you credit worthiness issue, people who lost homes have good credit but the question is what are their credit worth, what are their wages, amount of loans that they have that they still have to pay for credit card debt. Things like that. You have millennials dealing with Student Loans and an site you from all the foreclosures and fines and penalties many of them paid. Theres a complicated picture as a result of what we went through in the last ten years. Stuart so we need some impetus, stimulus for people to go and buy those homes. How about this . Supposing they got rid of some aspects of doddfrank so that people like myself and our production team, we dont have to jump through hoops to get the mortgage, how about that . Deregulation i think is good. Im concerned that we dont go too far which im not suggesting suggesting that you feel that either that we allow lenders to police themselves again. I have concerns that if we go too far, we know that developers are complaining, stuart, that theres still too many regulations, too long to get permits which the president has talked about basically cutting back, if you loosen some of those things up, yes, im very concerned for our young people. Young people particularly 30s to 40s right now who want to own and tired of renting, they have a family, they want to have Home Ownership and the American Dream is tough for millennials because of all the issues that we are talking about. Stuart do you think millennials, youngsters will get back to the time when i was at that age where my dream, hope was to get a home on that own. That put me in the American Dream, when are we going to get back to that feeling amongst our youngsters . Well, listen theres a couple things about that. I remember that i rented for many years before i had the money to buy. Theres a length of time oh the young people that feel that they should own too soon at an early anal but saying that they should have the desire to own again, but do i think that these lenders are so paranoid still they will not lend unless they feel their buyer perspectively is going to meet obligation which is a good thing but at the same time the kids need a future and know that they have a stability and they can own and obviously we are going to have to wait and see what the president does and some of the things we are talking about are important issues for these kids to look at. Stuart i feel we are in the cusp of a real buying binge but its not quite there. Congratulations on the new show. Supreme court expect today issue an order on President Trumps socalled travel ban maybe this week. Opponents have until 3 00 p. M. Eastern today to file a response with the Supreme Court. All rise judge andrew napolitano. So we are probably not going to get a ruling this week . I dont think so. I dont think after the ninth circuit. The Supreme Court doesnt like to rule on something while the similar issue is pending in the court below. Two lawsuits, one in maryland, one in hawaii. Each making their way up. They both get to appellate stage. You like what im doing with my hands . Tomorrow its the deadline for submission of documents, june is the busiest month of the year for the Supreme Court. They do not want another case on the october. Theyll decide whether or not to take this one. Stuart far more important than that attorney general Jeff Sessions, hes going to testify in open session tomorrow, the Senate Intelligence committee, i believe, is doing the interviewing. We can all watch it 2 30 in the afternoon. Whats the significance . I think the significance is profound and potentially very dangerous for general sessions. I will tell you about the danger in a minute. Over the weekend heavy duty negotiations went on from the department of justice, independence counsel mueller about parameters, presumably theres some agreement. They are not going to tell us what parameters are. If some senator asks a question, the chair will rule. Here is the danger for general sessions, hes not testifying as the attorney general in charge of these investigations, hes testifying as a witness in the investigations. Stuart whats the difference . He has a terrible dilemma because an answer for him as a witness might harm his boss. He has to choose am i here to defend the president of United States who appointed me or am i here to defend Jeff Sessions, he will be accused from perjury, for this to happen in a public forum while hes a witness is very dangerous but hes apparently willing to take that chance. Stuart dangerous for general sessions but more dangerous for President Trump . Jeff sessions will face with the choice of how do i answer it, do i answer it to protect the president or do i answer this to protect my own legacy, my own tenure as attorney general, my own status as a lawyer with license to practice law because he will be accused of things that would jeopardize all of those. He will be accused of perjury, lying to the senate Judiciary Committee about not telling him first and second and now a third meeting with sergey kislyak. That will be the allegation against him. Stuart itll be very important, key television, we must take a look at everything that happens tomorrow afternoon at 2 30. I love those hand motions. [laughter] stuart one more for you, two more questions. First of all, the attorney general of washington, d. C. And maryland are plan to go sue the president on the grounds that he violated the constitution by acceptance foreign money at trump hotels since taking office. A he hasnt done that, he doesnt own those hotels personally. He owns shares of stock in a corporation that owns them and operates them. Hes receiving dividends on the stock. Stuart so this is nonsense . Correct, this is a political lawsuit because in order to file a case in federal court, they would have to show that the state of maryland and the district of colombia were somehow harmed by this and they cant show. Tossed as soon as its filed. Stuart one more. [laughter] liz youre looking more american by the day. Because of jeremy corbyn. [laughter] stuart officials arrested 19yearold ebbing ecuadorian. Seems to be a dreamer. This is the type of target that president obama prohibited them from going after and that President Trump said, we are really not after this type of person, hes been here hes as american as apple pie and just wasnt born here but fully americanized. I dont know if this was a mistake but its going to become a big deal because they arrested him in front of students and faculty at or right before the senior prom. They could have been more delicate about it. I dont know where its going to go. Is he here illegally, is he here of his own volition, absolutely not. Stuart the circumstances are bad news. They are. Im sure if the president of the United States, secretary kelly knew of this, the boy would not have been arrested. This was either a miscommunication, overzealous prosecution which could be startling to us. Stuart can the president step in and release, we are sorry . Yes, this is an area where the president can absolutely say, i dont want that kid deported. Stuart you think he should . Yes, dreamers like this, children born here as infants fully americanized could happily become productive and happy members of society and shouldnt be involved in the misbehavior of their parents 18 years ago. Stuart judge on this we agree . Stuart i want to thank you very much, indeed, judge. I want to run a sound bite from democrat senator, this was over a weekend. Are you going to bleep anything . Stuart we are going to bleep it. Just watch this, please. As has he kept any of the promises . No. [laughter] instead [applause] sorry. Understand that this is a younger audience, its okay. Fun mentally if we are not helping people, we should go stuart you know, she says, look, i understand this is a young audience so thats okay. Come on. This this shows so much on bitterness resisting the president. Look at the awful things going on, assassination right here in central park. This is all part of the same cultural which knows no limits in its opposition to this man as the president of the United States. It wont confine its limits to political opposition. Stuart judge, im glad that you got to comment on that because im appalled by it. Liz, i know liz yeah, should be the direct opposite, you do not swear in front of anybody specially millennials. Youre supposed to be an example. Stuart i believe that we have fox news chris with us now and chris, im pretty sure you saw the sound bite there from the democrat new york senator. Look, im appalled by it quite frankly, this kind of treatment of our president is a very dangerous thing. Sorry, chris. I know youre going to respond, President Trump is just on tape now, i just want to listen to the president for a moment, please. Good morning. We have much great news to share with the American People today. As we continue to delivery on our promises. Due to a recordlong delay and confirmation and the con fir mags Confirmation Senate democrats which i call the obstructionists, maybe they will change, but they are truly obstructionists, this is the first Cabinet Meeting with the entire cabinet present. The confirmation process has been recordsetting long. I mean, recordsetting long with some of the finest people in the country being delayed and delayed and delayed. But thats much of that is over and now we are going through the regular process with people of other levels of government and thats a very long process including Ethics Committee which has become very difficult to deal with. All of that being said, we now have our cabinet finally approved and i want to welcome secretary of agriculture sunny perdue, secretary of labor alex acosta. Director of nationaliel coats. And your representative robert, incredible talented group of people in this room, generals, governors, congressmen, entrepreneurs, businessmen and many others, i chose each person at this table but i not only chose them because of remarkable experience and success but because theyve all united by one share goal and what they want to do is one very simple but very beautiful goal, serving and defending our beloved nation. Together we are working every day and weve been working very hard together for our country to protect safety and bringing back jobs into the country and putting always America First and when i ran it was make America Great again and thats what we are doing it and we are doing it as a much faster pace than anyone thought. I will say that never has there been a president with few exceptions, in the case of fdr, he had a major depression to handle who has passed more legislation, who has done more things than what we have done, many bills, 34 bills in congress signed, Supreme Court justice who is going to be a great one and be a great Supreme Court justice and many other things weve achieved tremendous success and i think we have been as active as you can possibly be at a just about record setting pace. And we are achieving these goals by eliminating the jobkilling regulations, unlocking american energy, rebuilding our military, pursuing fair and reciprocal trade deals, achieving massive reductions in illegal immigration, transforming the department of Veterans Affairs and building a new Partnership Among nations to defeat terrorism. In just a very short time, we are seeing amazing results and, in fact, there are a couple of major stories today in the newspapers about miners opening and going back to work, actually pretty big stories. People are surprised and more Small Businesses are planning to hire than at any point in the decade. Last month unemployment felt to lowest point in 16 years. I recently returned from a trip overseas that included deals for more than 350 billion worth of military and Economic Investment in the United States. These deals will bring many thousands of jobs to our country and, in fact, will bring millions of jobs ultimately and help saudi arabia take a greater role in providing stability and security in that region. One of the big things that we did and youre seeing it now with qatar and all of the things that are actually going on in the very positive fashion, we are stopping the funding of terrorism. They are going to stop the funding of terrorism and its not an easy fight but thats a fight we are going to win. We are going to staffer starve the beast, believe me. The house passed a bill, the senate has it right now, Mitch Mcconnell is working very, very hard as are the republican senators. We will have zero backing from the democrats even though they should get in and do something but we expect to get zero. If we had the greatest bill in the history of the world on health care, we wouldnt get one vote from the democrats because they are obstructionists, thats what they want to do, thats the game, they think thats their best political game, they are looking to 18, so far weve had two races and we spent both of the races, they have spent millions of dollars and we have another coming up and we have been doing very well but they are obstructionists and thats sad, but we are coming up with something that i believe will be very good with zero support from the obstructionist democrats, sad. Secretary mnuchin is helping us put together one to have biggest tax cuts, may be the biggest single tax cut in American History and that also includes a great deal of tax reform, simplification and other things. Director mulvaney has led reference to introducing new budget that cuts wasteful washington spending and protects the taxpayer and that will come out and believe me, we will take care to have people that we have to take care of. So thats a first step, but we will be taking care of the people that have to be taken care of on the human basis thats very, very important. Today we are going the hear from secretary tillerson and secretary mattis on the ways that we are combating isis and defeating terrorism. Weve had tremendous success against isis and fight in the middle east where we are doing very, very well. We are going to have a News Conference in two weeks on that fight and you will see numbers that you would have not believed and if you look back to six months you wouldnt have believed it was possible. Secretary will give us update on tremendous work to make sure that our veterans are finally giving the care they deserve, one of the most important things in the campaign trail. We have also been strongly purring for pushing for the va act and if they fail, if passed the senate and the house, its tomorrow. We have a big vote, david, and i think we are going to be in good shape. Thats something thats going to be great for our veat reins. We veterans. We will also hear from secretary acosta. Expanding apprenticeships an getting people back to work. We have the lowest number in terms of unemployment in many, many years, at the same time ive always argued with that number because it doesnt take into account millions and millions of people that have given up looking for jobs and we will be doing something about that and we will get people back to work and its already starting in ohio and its starting in pennsylvania and north carolina, South Carolina and florida. You see numbers and theyre starting. I call them the forgotten men and women but theyre not going to be forgetten much longer, believe me. There are millions of good jobs that lead to great careers, jobs do thats do not require a fouryear degree or massive debt that often comes with those fouryear degrees or even twoyear degrees, these require advanced skills and Technical Training, apprenticeship, a very good word from the trump standpoint, apprentice, apprenticeships are going to be a big, big factor in our country. People with tremendous talent, maybe a mechanical talent, maybe fixing motor. We will help get the young people the Technical Training that they need to pursue really exciting careers and careers that they can make good money, they can really eastern great, great salary and maybe even open Small Businesses. If everyone in this room continues to do their jobs, then we can restore american prosperity and make millions and millions of dollars and we can make for these people and the American Dream come true, make the American Dream come true for a lot of people that will not have had that experience without the Election Results that we had in november 8th. So we are here to change washington, return power to the people, we are here to give people a great shot at a great, great job and even opening Small Businesses and employing other people. I look forward to hearing all of the reports from the different people in the room today. We have done as u about as much despite tremendous opposition from the other side, we have done something thats very special and you see it in the economic numbers because the economic numbers have been incredible. One just came out, almost 4 trillion in work has been created in the stock markets of our country. Just take a look at that. 700,000 jobs have been created in a short period of time since the election. 700,000 jobs, if we would have said that on november 8th, nobody would have believed the numbers. If we would have said that almost 4 trillion in the stock markets has been created, everybody would have laughed at us and said thats ridiculous. Thats what it is. So we are very proud of it. We have a Phenomenal Team of people, a great group of talent and we are really now seeing the early fruits of vary labor, some of them wont be able to kick in because statutorily you have to wait, we will be having some major legislation very soon the dumping of steel in our country which is absolutely killing our workers at our steel company, we are going to be having some very major legislation on the dumping of aluminum and various other things into our country which is killing our workers. We will be announcing that very soon. So i think what we will do, most of you know most of the people around the room but i will start with our Vice President , where is our Vice President . [laughter] there he is. Maybe start with mike and go around and you name your position and then we will ask these folks to go back and have a good day and we are going to discuss our various reports, mike. Thank you, mr. President. And just greatest privilege of my life is to serve a Vice President to a president thats keeping the word to the American People and assembling a team thats bringing real change and real prosperity and real strength. Thank you, mike. Im proud to be here and celebrate this group. We are receiving as you know, im not sure the rest of you fully understand the support of Law Enforcement all over america. They have been very frustrated, they are so thrilled that we have a new idea that we are going to support them and Work Together to properly, lawfully fight the rising crime that we are seeing. Able to serve you in that regard and send exact right message and its being respond around the country. Great success including ms13, they are being thrown out in record numbers rapidly. And theyre being depleted, theyll all be gone pretty soon, so youre right, jeff. Thank you very much. Mr. President , im privileged to be here and deep lie honor and i want to thank you for commitment to the American Workers. This week is a full schedule for you focusing on the American Worker. We are very excited at the department of labor and the Apprenticeship Program that you are going to be announcing i think is going to make a real difference. Thank you, congratulations. Mr. President , an honor to be on the team. This last week i had the great privilege to represent america at the china at the green energy, good times. They needed to hear why america was stepping away from the paris accord and they did and america is not stepping back but we are stepping in place and sending messages that we are still going to be leaders in the world when it comes to climate but not held hostage to some executive order that was old thought out so my hats for you for taking that stance and sending clear message around the world that america is going to continue to lead in the area of energy. Thank you. Thank you. Thank you, mr. President. Its a new day at the United Nations. You know, we now have a very strong voice, people know what the United Nations is for, they know what we are against and they see us leading across the board and so i think the International Community knows we are back. Thank you. Its true. Thanks for the kind words about the budget. You are absolutely right, we will be able to take care of the people who really need it and at the same time with your direction we were also able to focus on the forgotten men and women who are the folks paying those taxes, i appreciate your support and pulling that budget together. Thank you. Good morning, mr. President. Its good to be back in the United States, i actually arrived from italy in g7 summit focused on environment and our message there the United States focusing on growth and environment. It was received well. Good job. Morning, mr. President , the Intelligence Community has never faced such a diversity of threats to our country in our lifetimes. We have men and women who are working 24 7, 7 days a week to make sure that we are on top of all of these threats. Its a joy to be working with the people that i have inherited and we are going to provide you with the very best intelligence we can so you can formulate policies to deal with the issues. Thank you. Mr. President , its a privilege to serve, to serve the students of this country and to work to ensure that every child has an equal opportunity to get a great education and therefore a great future. Thank you. Mr. President , what an incredibly honor it is to lead the department of health and Human Services under your leadership, i cant thank you enough for the privileges and the leadership that youve shown. Seems like theres an International Player to the messages that have being delivered. I had the opportunity to represent the United States in g20 summit in berlin and geneva and i cant tell you how enthusiastic people are. Thank you. Mr. President , as your ceo on your staff thats true. Its an honor to be steward of public land and generator of energy and deeply honored and i am committed and optimistic that we can be both great stewards and be the Worlds Largest producer of energy. And you can do both, thank you very much. Mr. President , thank you for the honor to serve the country. Its a great privilege youve given me. Clearly we are engaged with our allies to ensure that know know where our common interest lie and our expectations are and america will continue to be a leader and they must do more and meet obligations both from a National Security standpoint but also for creating conditions and stability prosperity and for adversaries we are engaging and will engage but engaging from a position of strength to protect Americas National interest and we expect to make progress on resolving some of the differences. Mr. President , its an honor to represent the men and women of the department of defense and we are grateful for the sacrifices our people are making in order to strengthen military as far as diplomats always negotiate from a position of strength. Thank you. Thank you for the opportunity to help fix the trade deficit and other things. The other countries are gradually getting used to the fact that the free rides are somewhat over with and [inaudible] thrilled to have a chance to help you live up to your campaign promises. Thank you. Mr. President , last week was a great week. It was infrastructure week. Thanks so much to coming over to the department of transportation. Hundreds and hundreds of people were just so thrilled hanging out watching the ceremony. I want to thank you for getting this country moving again and also working with you. Thank you very much. Mr. President , proud to be here. Im very proud to represent men and women who celebrate the country in dhs. In the five months that i have been in the job we have gone a long way to facilityate, improved the Legal Movement of commerce across our borders yet at the same time have a long way to safeguarded our borders, particularly the southern borders and working with all of our partners, 70 drop in illegal immigration. While we still welcome legal immigrants to tune of over 2 million a year, we are no longer a friendly environment for illegal border crossings. Thank you. Mr. President , first of all,