Transcripts For FBC Varney Company 20170808

Google ceo says he violated company policy. He was dismissed for perpetuating gender stereotypes. Is diversity of opinion allowed . Not if your opinion strays from the company line. He is exploring legal options. Silicon valley and free speech could be headed to court. Relax, everyone, the judges that the shortly. Mary is. Just as important, your money. Will the doubt make it to 10 record in a row . If it goes up today, yes it is and reports in a row. Just the inauguration of President Trump value has gone up to . 3 trillion. Since the election for . 1 trillion. Question, while those rich democrats who hate the president , will they give it all back . Dream on. Great to be back with you all. Varney company is about to begin. Dream to north korea commit serious stuff from u. S. Spy satellite detected north korea voting to antiship cruise missiles on a patrol boat on the countrys east coast days ago. Remember north korea vowed to strike america with thousands fold revenge after the United Nations imposes sanctions in response to a recent missile launch. President trump just treated this this morning. After many years of failure, countries are coming together to finally address the dangers posed by north korea. We must be tough and decisive. More on that in just a moment. First come of this. Google fired the engineer who wrote about diversity policy that can his liberal politics. Employees now saying his exploring all possible legal remedies. All rights, judge napolitano is here. Looks to me like free speech and diversity in holding your own opinion within a corporation is headed to court. I think this is a dynamic story and will reverberate throughout the country and in other venues. California is much as we do here in new jersey that prohibits affecting a persons Employment Status on the basis of political opinions expressed doubts that the work place. Political opinions expressed inside the work as can be the subject of discipline. I have read this memorandum. It is challenging. Theres a lot of psychological terms in there, a lot of psychological leaks in there. It impresses me as more psychobabble than it is politics. Remember the basic rule. The First Amendment restrains the government. It does not restrain private employers. You can invite me to your parlor in silence me if you didnt like what i said there. Might you consider doing that . Absolutely i would. I have no First Amendment claim against you. Thats anyone of us if they did michael resent because this is their own bosses and not the government. Train to a fair point. A company does have a right to censor what is on its own email circus. It is going to go to court and the whole idea that you can surprise diversity of opinion that enhance the diversity of gender race and ethnicity is a contradiction. They want their investment spent litigating issues like this. Did they make a decision consistent with the Northern California culture or with millions and millions of people invested . Stranger thats a good question. The owners of the company, shareholders and what is their collective opinion. Presumably their collective opinion is the management. Presumably if Corporate Governance works properly come and they management and management presumably reflects their biases, which are decidedly different from this person. If engineers that make America Great again and got fired for that, it would be a far easier case than the sword of psychobabble that he has included in this 10 page memo, much of which i would argue is not even understandable by people with less than a phd education. Train to last one. I think its going to court. You . You think he will sue for lost wages . I think hell lose. But it will be dismissed once its filed. I think he would file and probably should file. By the way, he says that they try to shame him into either retracting his position were surprising that, try to shame him. That could be the basis of the lawsuit. Yes, it very well could. Pretty good, barney. Stuart i have a three day weekend. Ive been practicing not. And the caffeine. At least are not there. Stuart okay, everybody. Nine Straight Records for the dow. Consecutive records come in nine of them. 35 records this calendar year. Fox contributor steve cortez. A lot of our viewers are saying look, i make some money in this market. Why did i sell some of my thoughts . Maybe half of my holdings. Leave some in, take the rest out and lock in profits. Is there anything wrong with that . Stuart, he has little faith. There is something wrong with that. Stay the course and here is why. Morning again in america. But trump has unleashed in this country is magnificent. Corporate earnings are wonderful. I was point on your show this type away and which is the ultimate stock because of the combination of defensive infrastructure. Boeing stock was 142 of election day. Its a 240 now, gone up 70 because of italys number one the regulatory rollback has been significant. Very real, very tangible. Stuart i got it all, i understand all about. What is wrong with walking in your profits. Take someone in their late 60s, me for example. What is wrong with walking and not profit . Youve got it. It guarantees. Put it in the bank or put it in something. Give it to the treasury. Whatever it is, you got it. Whats wrong with that . Nothing is wrong if you can personal region, to sleep well at night. The united said that in bowling for instance in 160, 180, 200, 220 and here we are at 240. I happen to believe the American Economy is already accelerated. I believe will get tax cuts despite the entrenches and in frustration the Trump Administration a scene on capitol hill. I believe once they come back from the vacation they dont deserve that they are going to pass serious tax cuts by thanksgiving and by the time we cut the things giving, well see stocks ever higher from here. Stuart eye on microsoft. Do you own boeing . I do not. I wish i did. You would think as much as i talk about it. Trained to use successfully held the hand of anxious viewers and unaffected and to do. Steve cortez, thanks for joining us. North korea, want to bring in mike baker, cofounder of diligence llc. I think the north korea situation comes down to this. Are we america going to shoot down the next missile that they launch . Yeah, you could argue very strongly that we dont have anything else that military options at this point. The u. S. Drafted resolution that was passed 150. That means china back day. Youre not seeing a lot of talk in the media. One thing i would say at the outset of this at the Previous Administration had drafted and had a resolution passed in the u. N. With the backing of china, president Obama Wouldve received another nobel peace prize. Nobodys been talking about this. This is important. Its a win for President Trump. No doubt about it. A very strong move and its important in terms of what china is signaling. Now the problem is if we are at the stage for china itself cant manage north korea, which is what we base all the years upon, the idea that they would keep family name, weve got a real problem and not very come to this issue is do we have any options short of a war. Stuart i think the question is north koreas threat in america with the Nuclear Threat attack. They say that dismissing the new sanctions completely. They are setting themselves up for another launch. We are watching this. Are we in a position to shoot down a missile . We have the technology. Its not proven in the sense we havent had to do it before, but you would argue why weve been developing on this technology if not for a moment like this. Heres the issue. We would need to populate that idea. We would need to do approval. We would need to get support including from china to say that if this happens again, they launch 14 missiles in the past year, and this year alone. If they do that again, what we have to do is send the message ahead of time, saying we are not declaring war in you. Stuart we wouldnt put up a flag and say do it again or we are shooting at down. Japan, south korea, china, dont do it. We need to beat the drum now. Start setting up the message, setting the table to say if you do this again, if you fire up another missile, we will in a defensive posture not degrade more north korea, but we will do this when you start setting the tone with all your allies and with china to say thats what were going to do. Once you do that, we dont know whats going to happen. That is the unknown and whats got everyone with north korea responding. By the way, im very impressed that judge napolitano thinks you have a parlor. Everyone born in england. I was born just outside of london. I have no parlor. Hes deprived. Mike baker. Stuart thank you gave your all right as we say in you can stay. Drug violence. Watch out. If you fight to the wrong place, the military says they will shoot you out of the sky. New report from a big bank. Ups. If airlines switch to sell flying plane come in the industry could save 35 billion a year. The obvious question, would you get on a pilot . Answer, no. Politics. Congresswoman Debbie Wasserman schultz standing by a tech worker arrested for bank fraud while trying to flee the country of pakistan. She says the cops investigating the case are racist. Liberal lunacy, Georgia University now letting students choose their own grades if they feel. Liz you get what you pay for. Stuart the script says you cant make this stuff up. That is very true. More varney after this. Most allergy pills only block one. And 6 is greater than one. Flonase sensimist. With some big news about type 2 diabetes. You have type 2 diabetes, right . Yes. So let me ask you this. How does diabetes affect your heart . It doesnt, does it . Actually, it does. Type 2 diabetes can make you twice as likely to die from a cardiovascular event, like a heart attack or stroke. And with Heart Disease, your risk is even higher. You didnt know that. No. Yeah. But, wait, theres good news for adults who have type 2 diabetes and Heart Disease. Jardiance is the only type 2 diabetes pill with a lifesaving cardiovascular benefit. Jardiance is proven to both significantly reduce the chance of dying from a cardiovascular event in adults who have type 2 diabetes and Heart Disease and lower your a1c. Jardiance can cause serious side effects including dehydration. This may cause you to feel dizzy, faint, or lightheaded, or weak upon standing. Ketoacidosis is a serious side effect that may be fatal. Symptoms include nausea, vomiting, stomach pain, tiredness, and trouble breathing. Stop taking jardiance and call your doctor right away if you have symptoms of ketoacidosis or an allergic reaction. Symptoms of an allergic reaction include rash, swelling, and difficulty breathing or swallowing. Do not take jardiance if you are on dialysis or have severe kidney problems. Other side effects are sudden kidney problems, genital yeast infections, increased bad cholesterol, and urinary tract infections, which may be serious. Taking jardiance with a sulfonylurea or insulin may cause low blood sugar. Tell your doctor about all the medicines you take and if you have any medical conditions. So now that you know all that, what do you think . That its time to think about jardiance. Ask your doctor about jardiance. And get to the heart of what matters. Stuart what ever happened if the world . Are they going to be down about 17 . They lost money in their revenue is down. Not good. Sales down, but profit per out that ralph lauren. A whopping great big gain. Profitability works. Lets get back to politics. The president and congress both on vacation. Im singling out congress which has gone away having said they would stay. Look whos here. A former congressperson, jason chase said. You made the right move fair. Thank you. Its an honor to be here. Stuart whats wrong . They went to Great Lengths in july in a tuesday and said we are going to stay through the middle of august because their calendar is so full. They excused himself on thursday at the same week and they are supposed to be in session this week and now they are not. Youd think he would double down on your efforts and spend more time together. Dreams do why not . They are literally around the globe, but they are not working on things they have to get done. Train to the congressional calendar as you pointed out is only 12 days but the house and the senate is session. If you look at the calendar, six ohs the days are flying in a fly out. Both the mouse or not until 6 30 p. M. They are usually gone by noon. The biggest spotlight that they have in congress, and that feeling, budget, border wall, tax reform. There is not a republican on the planet they wanted to fail on health care and also back until their voters i just voted to raise the debt ceiling. Stuart is it your opinion that we are not going to get Health Care Reform and we are not going to get tax refund this year . Maybe im putting you on the spot. Its the way it looks to everybody. Im an eternal optimist. I hope they look at things at the medical device attacks and say we had a previous vote on that. Lets put that up for vote and try and move back. On the other issues. Just get rid of it. The American People are frustrated about. Remember what fails in the senate, we are supposed to be the most delivered his body the United States senate. They couldnt even pass a 50 vote threshold to have a debate. They didnt even get to the part where they got to introduce an amendment and introduce things. They key thing i hope people et al. Need to watch for, does the rhetoric change from tax reform to tax cut because there is a huge difference between the two when i hope are able to do tax reform as opposed to just a tax. Stuart not a chance. You know there is no chance of a fullscale tax reform. Will you admit that . They are going to do it, are they . You would think they would have this ready to go in december. I would criticize so when the bill came up in september that is whats happening. Thats why im pessimistic about september. I dont know. I hope so. Stuart you jump ship to just the right time. Thanks for joining us. We do appreciate it. Tuesday morning, nine records in a row. Where is the dow going this morning . The rest of the day another story. Heres a little positive news for you. The number of people on food stamps down big since President Trump took office. We have the numbers in the reason behind the drop. After this. So new touch screens. And biometrics. 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What good is having insurance if you get punished for using it . News flash nobodys perfect. For drivers with accident forgiveness, Liberty Mutual wont raise your rates due to your first accident. Switch and you could save 782 on home and auto insurance. Call for a free quote today. Liberty stands with you™ Liberty Mutual insurance. Stuart they try to raise 1. 5 billion or a junk bond offering you the stock is up two bucks. 357. More on that later. Michael cores, will you look at that. 17 up for the stock price of michael cores. They see better sales down the road. Look at the jump on that. The opening bell is six and a half minutes. Over a Million People dropped off the food stamp rolls since President Trump took office in january. This is according to usda numbers someone put 1 million. By the drop . Reason number one President Trump threatens to remove funding on the budget for food stamps for next year. Ashley number two, a number of states, georgia and alabama already instituted job requirements for ablebodied people receiving food stamps. And also looking now at time limit goodlooking network requirement. If youre ablebodied, if you do some work to get the food. Stuart another reason. Liz they are great family often to bring in Illegal Immigrants off of the household. This report suggests also that the drop is due to immigrant families not taking their legal relatives to get caught and get supported. Stuart thats interesting the president stand on ilLegal Immigration ripples through. Good stuff. When we open this market in what would be about five minutes time, you will see the dow go down just a little tiny bit. Another record, the ninth in a row 22119. That is the close yesterday. 22,100. We will be back in five minutes. No, less than that. Before i had the shooting, burning of diabetic nerve pain these feet. Liked to style my dog as a kid. And were pumped to open my own salon. But i couldnt bear my diabetic nerve pain any longer. So i talked to my doctor and she prescribed lyrica. Lyrica may cause serious allergic reactions, suicidal thoughts or actions. Tell your doctor right away if you have these, new or worse depression, unusual changes in mood or behavior, swelling, trouble breathing, rash, hives, blisters, muscle pain with fever, tired feeling or blurry vision. Common side effects dizziness, sleepiness, weight gain, swelling of hands, legs, and feet. Dont drink alcohol while taking lyrica. Dont drive or use machinery until you know how lyrica affects you. Those who have had a drug or alcohol problem may be more likely to misuse lyrica. Now i have less diabetic nerve pain. Ask your doctor about lyrica. Thats it. Im calling kohler about their walkin bath. Nah. Not gonna happen. My name is ken. How may i help you . Hi, im calling about kohlers walkin bath. Excellent happy to help. Huh . Hold one moment please. [ finger snaps ] mmm. The kohler walkin bath features an extrawide opening and a low stepin at three inches, which is 25 to 60 lower than some leading competitors. The bath fills and drains quickly, while the heated seat soothes your back, neck and shoulders. Kohler is an expert in bathing, so you can count on a deep soaking experience. Are you seeing this . The kohler walkin bath comes with fully adjustable hydrotherapy jets and our exclusive bubblemassage. Everything is installed in as little as a day by a kohlercertified installer. And its made by kohler americas leading plumbing brand. We need this bath. Yes. Yes you do. A kohler walkin bath provides independence with peace of mind. Call to save 500 off bath walls with your walkin bath or visit kohlerwalkinbath. Com for more info. Stuart Tuesday Morning, heading to the opening bell could one minute away. Can this possibly continue . I have a question for Elizabeth Mcdonald in the 45 seconds remaining. Now, should i sell half of my microsoft come and take the off the table, lock in my profits in what the west ride . Should i do that . No, its in my pension plan. Whats that got to do with it . You stay invested. Stuart covering the opening of the market. Hold on to what youve got. 102nd tier. I ate up a lot of time there as we approach the ninth or d. Opening bell. A slightly lower open. Dow may be 20 points. We are, come on, down 23. Look at that. Just a low 22,100. I cant remember when we had 22,000, but i know we hit 20 to one yesterday. That is the majority of the dow 30 are moving lower in the first few seconds of trading. The dow was down. 14 . The s p 500, does not have a similar drop in air . Let me tell you, yes it does. Down. 17 at nasdaq, tech heavy of course is down as well. Down. 15 . Across the board with open ever so slightly lower on this Tuesday Morning. Who is this me . Ashley, liz of course. Thank you for the great job you did yesterday. Hard work on the internet . Mike murphy is here in so to is scott shellady. Alas my question. Should i sell half of my microsoft to lock in profits ever be made . I think mike said it correctly when he answered her question with a question. When are you going to get back in . When we leave these things up to humans and if you dont need the money right now, the problem as humans tend not to get back on the market. The trend higher. Girardi sold, upset with yourself. If you need the money, go ahead and sell. If you donated money and you are an investor, not a traitor, and everybody is calling a break lower. Until we all stop talking about it it will break. Right now i feel too many people are looking for the downside to happen and its not going to happen right now. Trade for the market has priced in the current earnings improvement twice over, meaning the proper growth did go up, but the earnings multiple is fully priced in twice over. You could be looking for a bit of a pullback. Over the last 100 years from the stock market goes up three out of every four years. So at some point the market will pullback. I dont think any of us who are most experts are qualified to call the pullback can be called when the pullback is over where you can get back in. If you like the company, they are innovating, doing phenomenal. Transfer you can also pull out. Stuart whatever you say, liz. Ashley you can do all of the above. Im not telling. We know the market will go down. Stuart dont do what he says hes going to do. China, in the month of july, i believe its 25 billion. That is a huge amount of money. Scott, is china killing it . Well, it continues to be our fault. That the best answer. Its not killing us, but it hurts us. As much as donald would like to get something done there, it is going to be a problem. It will continue to be a problem and i dont see it getting some simply anytime soon. Stuart u. S. Credit card debt just be a record high that with that back in 2008 at the time the Financial System is on the verge of collapse. We now have as much Credit Card Debt outstanding as we did back in 2008. Mike, is that a danger signal . It is not. When you point to just to does make him anything that happened in late 2007 or early 2008 was bad because it preceded a huge financial collapse in the market. I would argue that it shows people are confident in the economy that people are willing to spend because they no longer just a getting parttime jobs. They get real jobs, paying jobs so they go out and spend money which has a trickledown effect throughout the entire economy. Trade to look at this. Four minutes into the trading session down 30 points. Weve not done many people who think there is a serious fullback coming. We are at a plateau before we start to move higher again. The collective opinion around this table. A long time since we thought in a correction and we are not looking at it as of right now. How about this. A weak forecast for marriott enough to put it down 3. 5 . Cbs, the pharmacy side of the business doing well. The retail side not doing well. A lower customer foot traffic. Sales are down a little and up 2 . Sales down ralph lauren profits up. Look at the stock rose 9 higher in the early going. Michael cores looking down the road in the air up 14 . Different story if the world. Weak revenue last monday, and down 12 . Disney may report profits or whatever after the bell today. Cord cutting still something of a problem for espn. We will see how that is going and also how the resorts are doing so far this year. The movie pipeline has been strong in advance of the official numbers, disney at 107 up 70 cents as of right now. How about this one. Tesla considering at 1. 5 billion junk bond offering. Why is it junk bonds . Liz it is easy to get into the market and raise junk bonds. A billion dollars in cash every quarter by tesla. They are trying to take on the mass market, ford and gm. He only had 80,000 cars sold last year versus gms 10 million. The model x are trying to make it mainstream. 62,000 for the car. That is the uphill battle. Stuart you cant issue morse talk. They cant go to the government for more Green Energy Tax credits because President Trump is in the oval office. All theyve got left is raise money through a bond issue and the stock goes up. Trained to be a convert to tesla . Im not a convert. Elon musk and tesla can go out and borrow money, even though they have to pay higher interest because it is junk bond status. You put up the market multiple on tesla 50 times on the money. Thats a people are betting he can do with the money when he gets it in. Stuart it makes sense. Thank you for the math on that. This one is for you, scott shellady. Google is very the engineer of that gentleman right there, criticizing the diversity initiatives within google. Hes been fired. What do you say to that . Scott shellady london. Once again, the intellectual strike. We love diversity and we love all inclusive things and we are inclusionary. But at the end of the day, if you dont like your ideas, can you imagine if somebody on the left wrote a similar piece of paper and then got canned from google, with the firestorm would be over that . Again, we are okay if you agree with us. When you dont agree with us, we came here. Day of silence him. So they silence the adversaries because they know what to do with your ideas better than you. They know what to do with your money better than you. Stuart have you got a different take on this . Train for Silicon Valleys hypersensitive about the issue because this guy reveals the true spirit 80 are men and they are either white or asian. Hes revealing what is typical about Silicon Valley. Google is saying, you know, we are committed to fighting pay disparity, but they are giving the data over. The dll is going after google. I mean yes, the loneliness of the female coder for sure. Is it right . Is it wrong . Women should be offered any job they so desire. Stuart he is out because he linked biology to the discrepancy. Liz hes out because he violated googles own policy about bias. You cannot have free speech like that in a country on Train Company if have free speech like that. The expression something about generous types. He had further gendered stereotypes. As the judge pointed out, you dont have free speech and the corporations have policies like that. You wouldnt get fired if there was something written from the left, some point of view was equally the full amount of tension. Would he be canned . Absolutely not. You dont know that. He mightve been. Stuart diversity, ethnicity, gender or race. Not opinion. Trade for their own labor force shows theyre not diverse. Thats why Jesse Jackson went over there a few years ago. Saying hey, what are you doing . We are in agreement. Stuart okay, we will take that. Ive got a question. Big bank says the Aviation Industry could save 35 billion a year if it moved to planes. Who among us would get on a pilotless plane . Youd be the first. I need a pilot. Hash . No way. Last word to you. Would you get on a pilotless plane . On a long layover in singapore, a little too few at the bar. He said he hated flying. Taking off is an option. Landing is not. So i would not take off in a plane that stuart why would i feel hes getting ready [inaudible] good start to a tuesday. Check the big board, holding with the Minor Leagues glossary just dropped fractionally below 22,100. Obama carries unraveling. The latest example Health Insurer into pulling out of nevada. Question, why is congress on vacation and not in d. C. Fixing this obamacare mess . Mcdonalds make it a big investment in china, announcing plans to open thousands of new restaurants in that country over the next five years. We will be back. Its a highly contagious disease that can be really serious. Especially for my precious new grandchild. Its whooping cough. Every Family Member, including those around new babies, should talk to their doctor or pharmacist about getting vaccinated. Im. Im so in love with you. Whatever you want to do. Is alright with me. Ooo baby lets. Lets stay together. Stuart ninetieths where we are. Make donald adding thousands, i believe 2000 restaurants in china. That is a huge expansion. More on this nicole. Absolutely. What you see when you walk around china by the user browse going to mimic donald, starbucks, mcdonalds, starbucks because they are going to be adding one a day of about 5000 unit they are. Now they are saying 2000 is the vision. Outside the u. S. In the next five years. That would bring the total in Mainland China to about 4500. They have a partner in all of that. The new outlets will help drive the growth. Double digits for the next several years. They are loving the idea to make more money. Stuart i like that. We are loving it. Nicole, thank you indeed. The pharmacy benefit manager express scripts have outlined a new opioid prescription limit might make it more difficult for people to get their hands on a lot of opioids. What the limit . Seven days. The data pilot study of this tested it saved a limited with a dramatic drop in opioid use. They are saying they do not want to create addicts. That is what express script is saying. More than 1000 people a day in the u. S. Are treated in Emergency Rooms for abusing opioids. This is an outofcontrol crisis. Express script is washed in the industry. A middleman between cbs and the government like medicaid and medicare. This is a big, big shot across her opioid abuse in this country. Stuart fascinating story. Nevada helps ensure it invalid a lot of the states 28 teen individual insurance exchanges on the Affordable Care act. Tommy thompson is with us. Former health and Human Services guy. We always have this debate. Absolutely. Its very hard to do it. Thank you very much, stuart. Winer thinks congress on recess when obamacare is falling to pieces and a promise to do something about it . They are making a mistake. People in the United States won action. They want something done in health care. They know obama carries absolutely collapsing as you said. Other Insurance Companies are. People are going to get hurt. Stuart where is the fault here . Is this the Republican Party can the United States senate comes some members of the senate who dont like resident trump . Whats going on . I think its all hoopla. Its very complex. Treated to what is the failure. Its a. At the failure of republicans not passing something. They have to get it done. As a republican im an avid supporter for many years. Its time for congress to come back, get the job done and has health care. Stuart do you put salt on any particular senator . I really dont. I think theres a multiplicity of reasons. Health care itself is very complex and may have a guy that plan to put things together. They shouldve had one coming in and now they need to get one pass because america is waiting for it. You are talking about it forever in a thank you for doing it. America wants a health care revision plan and they want it now. Stuart i cant see it getting done because they are in recess. When they come back, theyve got 12 days to do the debt doing in the budget. They are working right now. They are working back and forth and hopefully theyll come together to some sort of conclusion. Even a skinny bill. Lets get something done. Stuart you are republican. You see this from the inside. What is the chance of getting them to come back and do something . I pay 20 . I think the fact that america and people are out talking to senators come and get something done. Go back and get something done. Republicans ran on this. They need to come back to washington with a coordinated view in get something fast. Stuart what you make the governor of west virginia, democrat switching to republican. I think its wonderful. Stuart you are republican governor. U. S. A. Republican. His parents were republican. Not as dear as you would like, but the truth of the matter as he was a democratic governor west virginia. He sees that the Republican Party has ideas to go forward. They need something done in health care, tax reform, infrastructure. If they could do that come Republican Party could be the Majority Party for many years to come. Trade two minus were democrats. Be my guest, huge minus. When they have governors studying im not going to be a democrat anymore, im going to be a republican, that hurts. Youve got a strong person insane i no longer want to be a member of your family. That hurts. That really gets to you. Dreams do we love having you on the set. Tommy thompson, everyone. Quick check of the market. We are 19 minutes in. Down 27 points. A little bit of green on the lefthand side. Also this. How about a College Student is stressed out, gets a bad grade on a test. At the university of georgia, the student can email the professor and get the great change. What . We will be back. Who knew that phones would start doing everything . Entertaining us, getting us back on track and finding us dates. Phones really have changed. So why hasnt the way we pay for them . Introducing Xfinity Mobile. You only pay for data and can easily switch between pay per gig and unlimited. No one else lets you do that. See how much you can save when you choose by the gig or unlimited. Call or go to xfinitymobile. Com. Xfinity mobile. Its a new kind of network, designed to save you money. 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 well, heres the no i think everybody knows. See world 12 bucks a share is a record low. He reported weak revenue and lost money. Down it goes 10 . Then we have dean foods. Touched a fiveyear low. It too reported weak profit to go down nearly 19 . Im going to show you this again. The president treated about our show last tuesday. Operations have never made as much money as they do now. Thank you Stuart Varney at fox and friends. Next to guess even use that treating this market watch. Van dorn if it does. If you say that President Trump is right about record corporate profits, i was right about it. What about the future . Are we still going to go record to record profits in america . Good morning, stuart. Wall street Analysts Expect it to continue. They expect an 11 increase in earnings next year and a further 9. 6 in earnings per share for the s p 500 in 2019. We are in it. We are at a record level. Earnings have to keep steady records to keep the bull market going. We are eight years then. Stocks trading for 1820 times the consensus. 2008 earnings estimate as high as its been by this measure since 2002. We have to keep setting records. Stuart if we do keep setting records stand, open slowly to higher than the 22,000 novel. Is that your conclusion . Yes, i would expect that. This market went through an earnings recession. Five quarters of the s p 500, which ended a year ago. And now weve tried for quarters of impressive earnings increases from the market as a whole. If we continue this, it certainly supports higher stock prices in my opinion. Penetrated her you a curve, but how about this one. The stock market goes to record highs. Corporate profits at record levels. What about the ordinary guy . Does it come down the food chain to every man, does it . No, it does not come down the food chain to every man. Hopefully every man has a way of participating in the stock market, possibly the plan. A lot of efficiency improvement are coming at the expense of employees. No question about it. Stuart phil, thanks for joining us. It was short, sharp, but to the point to me like that. Things are joining us. Well see you again soon. Full disclosure, you are about to hear my opinion. The New York Times launching what i think is an allout attack on our president. Three negative opinion headlines on the front page. My take on the Mainstream Media antitrump Propaganda Machine just a couple of minutes away. Hi. When you clock out, ill clock in. Sensing and automatically adjusting to your every move. There. I can also help with this. Does your bed do that . Im the new sleep number 360 smart bed. Lets meet at a sleep number store. Stuart at 3 00, this morning, yeah i do get up early, i check my phone first thing every day. I go through all the newspapers and all news websites. There is one thing that often stands out to me. This morning it jumped right off the page. The New York Times has become the opposition party. Its primary purpose is not news, it is opinion, negative opinion on negative trump. Look at this headline. Headline number one. Scientists fear trump will dismiss Climate Change report. This is a leak. Government scientists, obama era people, who expect Climate Change to rook havoc on america. The times reports their opinion. Number two. Trump loves cia chief but the agency is wary. That is north look. Insiders at the cia expressing opinion about the new chief, again undermining the new president. Number three. Trumps stalled trade Agenda Leaves Industries in the lurch. The times makes the judgment, value judgment that trade policy is stalled and selectively uses executives who support that opinion. All of this of course follows the article of the weekend suggesting mike pence was gearing up to out of President Trump at the next election. That amounted to malicious goes sip designed again to undermine the president. In short the times has taken over the role of a political party. The democrat party, should be the opposition offering their own opinions but they are leaderless and lack a coherent policy alternative. So the times jumps right in. Strongly supported by the washington post, abc, nbc, cbs, cnn, msnbc, news week and just about every other media outlet. Its a long list. And thats what you wake up to every day and so do i. In my opinion, the media has become the Propaganda Machine for the coastal elites. Lets be clear, this, Varney Company is an opinion show. We support Economic Growth, we want america to succeed, we want to return to prosperity and we dont think undermining the president for clearly political purposes is the proper job of the media. The second hour of Varney Company is about to begin. Stuart were only 10 points down this Tuesday Morning after 32 minutes worth of business. Were at 22,100. Big tech names, mixed bag. Apple ever so slightly higher. The rest, amazon, alphabet, facebook, microsoft down again but the losses are minimal right there. Michael kors, they see better sales down the road. That works wonders for the stock. It is up 17 . Maybe that is helping other retailers. Foot locker up 4 . Jcpenney up nearly three . Childrens place up nearly 2 1 2 . Chicos fas, that is up nearly 3 . I will leave it at that. Urban outfitters, finish line, weve not seen retailers do quite this well. A lot are up. Congresswoman Debbie Wasserman schultz stands by her tech worker who was arrested while trying to least country. Katie pavlich, town hall editor, Fox News Contributor is with us now. Katie, Debbie Wasserman schultz has an excuse why she didnt fire this guy way back. Whats the excuse . Debbie Wasserman Schultz is accusing the Capitol Police and fbi of islamophobia. She argues that the reason why she didnt fire her staffer who tried to leave the country after funneling hundreds of thousands of dollars to pakistan, who has been charged with bank fraud for Double Charging taxpayers for a house equipment, she says she didnt fire you him like ever other democrat on the hill in february until july because she thought that he was being targeted because of his race, and because of his religion. Stuart well, i think this is emerging as what could be, repeat, could be as big of a scandal as russia, russia, russia. What say you . There is a thing, something we need to Pay Attention here is that Debbie Wasserman schultz had an interest in protecting this guy. She threaten the Capitol Police during committee hearting about their funding, said they didnt give her back her laptop there would be consequences for that. The laptop was confiscated by police as a result of this investigation. Seems Debbie Wasserman schultz is far more interested in protecting the staffer because he knows too much. Makes no sense she is only one that kept him on board after allegations came up. It wasnt just him. His brother was involved in doublecharging taxpayers for house equipment, for possible bank fraud. There is very serious questions on end of National Security implications whether this guy was able to get access to National Security secrets, and i dont know, funnel them somehow to pakistan. I think there is something going on here i dont think weve gotten to the bottom of it by any means. Right. Stuart if these three pakistani brothers had access to members of democrats on the House Intelligence Committee that is a very big deal and access they did have. I dont think weve pot to the bottom of it by a half. The media sure hasnt covered it the way they should. They have been covering russia months on end, fine. This is very big deal that has very serious National Security implications. Debbie Wasserman Schultz put up with it for months, allowed this guy to hang around. He was banned from accesses house computers in the i. T. System. Yet now she is accusing fbi agents and Police Officers of islamophobia for daring to investigate why he fleeced taxpayers why potentially disseminated National Security information he should not have access to. Stuart katie, at the top of the hour i issued my editorial and i said the New York Times has become the Propaganda Machine leading the democrat party. It has become in itself a political party, acting like as a political party. Am i going too far . I also read all of the headlines you laid out, look this is the difference between your show and the New York Times. You openly laid out the goals, objectives of your show whereas newspapers like the New York Times, and washington post, now has this ridiculous slogan, democracy dies in darkness after we find out they were colluding with the department of justice to kill the Loretta Lynch, bill clinton tarmac story, at least youre honest. Conservative outalso are honest where they are coming from. You have newspapers with bunch of journalists parading around like theyre objective when we all know they have a political agenda. Jim acosta of cnn is another perfect example acts like theyre objective, deep down theyre liberal activists covering stories they think are important to their causes, we wish, American People wishing they would be honest where theyre coming from. Stuart their numbers are down. Ours are up. Dont you love it . Indeed. Stuart katie pavlich, thanks for joining us. Thanks, stuart. Stuart days after being hit with new sanctions north korea threatens to use Nuclear Weapons against the United States. Joining us congressman lee lee sellen on house far rin affairs committee. Good to see you. Stuart this is my opinion. Let me lay this out. Well give some time to see if the sanctions bite as theyre supposed to. If there is another launch of an icbm, i think well have to make the cities in america do we shoot it down or not. What say you . Well, first off, we cant possibly understate the significance of what President Trump just pulled off at the United Nations, getting russia and china to vote for the sanction package. It is not anything small. 3 billion worth of exports from north korea, this is over 1 3 of that total amount. So this is significant economic pressure, multilateral diplomatic efforts taking place. There is no, i cant think of any large are victory that has taken place in the effort against north korea in a long time. Stuart true. As far as north korea goes the red line isnt them actually launching a Nuclear Warhead at the United States. The red line needs to be them having the ability to place a Nuclear Warhead on an icbm to reach the United States. As far as what we have in our capabilities i dont see it is outline whatsoever for us to show our ability to shoot down an icbm if we so choose. To your specific point i have no problem with that. I think it would be an important show to the North Koreans and others of our capabilities but i also dont want us to just rush to that military option without giving President Trump the ability to continue to, this momentum with the economic pressure and diplomatic an progress weve seen over the last few days and weeks. Stuart i think that decision will have to be made fairly soon because i think they will continue to testing bigtime missiles. I think that decision comes at some point relatively in the near future. Do we shoot it down or dont we. I have to ask you, congressman, about the congressional calendar. As we told our viewers many times, only 12 days in september when the house is in session, 12 days before the debt ceiling deadline. Doesnt look to us there is enough time to get anything done like tax reform, tax cuts, or obamacare repeal. I mean the can door wont allow for it, will it . On the house side it is going to get done. We have passed hundreds of bills so far this year. Hundreds of those bills have been signed by the president. When we come back next month well take care of the debt limit issue. We will resolve the government funding which is until the end of september. We will pass tax reform. I think that is timeline is october, november. Stuart really . That is a very rosy outlook, congressman. I realize you have to take positive here but it is highly unlikely, highly unlikely, isnt it . No. Were going to get it done. We have to get, the debt limit is due next month, and government funding is due next month. So it has to get done. As far as tax reform bows, my understanding of the timeline is octobernovember. I really believe that is going to happen. We could has on the house side a bill on the floor over the course of an hour that might take the Senate Two Weeks through the senate process. Then at the end of the day where we might need 218 votes on particular bill, they might require 60 in their house, on tax reform through budget reconciliation they only require 51. The calendar issue is a huge issue over in the senate. Well get this done in the house. Stuart we hear you. August the 8th, congressman lee zelden on tape said well get this done. Be careful. Congressman, we appreciate you being with us. Thank you, stu. Stuart google has fired that engineer who wrote an essay questioning the liberal bias of googles management. We have more detail on firing please. Liz he says he will hit back. He is upset about it. Heres the thing as judge Andrew Napolitano pointed out, it guying fells policy, youre not supposed to display any kind of bias whatsoever. He may have a tough go of it. What he is revealing though is the obvious selfevident truth that Silicon Valley is lack of diversity. Silicon valley is notably hypersensitive that 80 of its, theyre men who work there and mostly white. Stuart i think he is going further than that. Some of the discrepancy between them, men in coding and women has something to do with biology. That is what he is saying. Google says you cant say that. Liz right. Stuart he is saying the gentleman who has been fired, he is saying google is biased. Google is not diverse in its opinions. Liz idealogical opinions, differences of thought. Stuart google fired him implying you can not have diversity of opinion within google. That is interesting. Liz he puts out his own personal manifesto. The judge is right, googles policy youre not supposed to do that. Stuart thats true. They have the right to fire him. This will go to court. Get much bigger. Liz yeah. Stuart more on the google diversity memo coming up on the program. Were about to show you new video. This is Teslas Gigafactory in sparks nevada. The drone took a footage. It is six million square foot facility. Is that the right gigafactory . Liz yeah. Stuart one which will be in new york. Pleased to hear that. Later this hour, brand new tough sanctions on north korea, sanctions that depend on chinas cooperation. Here is the question, will china step up to the plate and cooperate . Were on it. University of georgia professor letting students pick their grades if they feel stressed out. Youre watching the second hour of Varney Company. Copd makes it hard to breathe. So to breathe better, i go with anoro. Go your own way copd tries to say, go this way. I say, ill go my own way with anoro. Go your own way oncedaily anoro contains two medicines called bronchodilators, that Work Together to significantly improve lung function all day and all night. Anoro is not for asthma. It contains a type of medicine that increases risk of death in people with asthma. The risk is unknown in copd. Anoro wont replace rescue inhalers for sudden symptoms and should not be used more than once a day. Tell your doctor if you have a heart condition, high blood pressure, glaucoma, prostate, bladder, or urinary problems. These may worsen with anoro. Call your doctor if you have worsened breathing, chest pain, mouth or tongue swelling, problems urinating, vision changes, or eye pain while taking anoro. Ask your doctor about anoro. Go your own way get your first prescription free at anoro. Com. Stuart when i saw this headline, i was shocked bit. Here is the headline. The fda is launching a campaign against ecigarettes. Ashley among the youth of this country, estimated two million middle and High School Student use ecigarettes or vaping devices. No, there is no tobacco in these things, there is no combustion involved, however there are small amounts of carcinogens. If has been shown to impair lung function. The longterm conclusion is unknown what this does to you. Because of that theyre trying to stop youngsters in this country using ecigarettes. Emac was talking about, this could be a gateway to regular cigarettes. They are launching a Campaign Next year the fda. Stuart i thought currently two million teens Smoke Cigarettes which is a lot worse and cigarette is a way out of that. I would have thought a go at that one. Ashley you would think but no. Stuart very interesting story. I want to get back to the Google Engineer fired for writing a controversial memo on diversity. Alley is from the blaze. Welcome back. The guy was fired whether he questioned biology was had something to do the poor representation of women in technology and critical of google for not allowing diversity of opinion. What is your take . He is fired. What were seeing google and Companies Like google value superficial diversity when it comes to things like race, gender, even Sexual Orientation but they dont value diversity of opinion, diversity of politics or diversity of ideology. Supposed to be leader not just in technology but productive under lex wall dialogue. They are showing they are openly hostile to any idea that brushes up against their preconceived notion how they believe the world should work which i think is the definition of bigotry the things they say they stand against, i think google will be successful being able to fire the gentleman because he violated company policy. Yes. Stuart i got that. But if this issue is litigated in court, suddenly you have got sunlight zeroing right in on the socalled diversity of technology companies, and that will expose all kinds of problems for Silicon Valley. That is my take. Do you agree . Yes. I do think that they have a right to fire him but essentially what he did was saying hey, google, youre violating your own policy. The policy is you shouldnt have bias. You are showing bias. You are overcompensating here, trying to make the company more diverse. Youre discriminating against people who are qualified for these positions. Thats bias. That is damaging. So he might actually have a case there. Stuart message to google, if youre a conservative, shut up basically, thats it. Exactly. Stuart ali, i have to ask you this one, i think youre connected to this one, business professor at university of georgia offers a course that allows students to pick their own grades. The professor said it is an effort to reduce stress levels. Right. Stuart im asking you this question, if you feel stress, tell your professor, teacher, you can have your grade changed, i cant he believe it. Im asking you about this, your husband went to the university of georgia, correct . He did. My husband went to the university of georgia. Not only that he went to Terry College of business which is in the top 50 business colleges in the United States. Im so glad he escaped this nonsense or else he would have been wholly unprepared for the real world. That is exactly is going to happen to students in that cast room. Theyre going to be unprepared for real world unless they work one of two places, their moms basement or apparently google. This professor is creating a safe space in the classroom almost totally unparalleled in the real world. Guess what, at work you will have to endure public criticism, the quality of your work is not going to be subjective to what you think. Youre not going to be able to quit a project just because you think it is stressful. Well see bunch of overgrown preschoolers. That is what the world is coming to. Stuart you brought it nicely full circle. Got us back to google in the first place. Ally, that was booed. Thank you, stuart. Stuart look at this. Hit north alltime high for the dow industrials. Liz confetti. Ashley been doing that every six minutes. Stuart running out of confetti. There you have it, ladies and gentlemen. Look at this. Little cesars unveiling what they call the pizza portal, this is interesting. Once customers download the app, order the food, they go to caesars, type in a three digit code, open the hot box, take the pizza out, take it home. They never have to speak to another human being. Dont you love that . I want it. I want it. Only in the tucson area, ladies and gentlemen. Coming up hbo was hacked, scripts of its hit show game of thrones were stolen. That is not what all the hackers were after, well explain fully in a moment. Got you outnumbered. The dinosaurs extinction. Dont listen to them. Not appropriate. Now im mashing these potatoes with my stick of butter. Why dont you sit over here. Find your awesome with the Xfinity Stream app. Included with xfinity tv. More to stream to every screen. Youre searching for something. Whoooo. Like the perfect deal. On the perfect hotel. So wouldnt it be perfect if. There was a single site. Where you could find the. Right hotel for you at the best price . There is. Because tripadvisor now compares. Prices from over 200 booking. Sites. To save you up to 30 . On the hotel you want. Trust this birds words. Tripadvisor. The latest reviews. The lowest prices. Stuart big hack at hbo the hackers are now demanding millions in ransom. Hillary vaughn joins us with more. Hillary, how much money are they asking for . Reporter about 6 million, stuart. They spelled out their demands in a ransom note asking for six months salary. They claim they make 12 million a year. That works out to 6 million. They want it in bitcoin or else they say the leaks wont stop. The demands came with another data dump. The hackers leaked the fourth episode of game of thrones last week but this time the data is personal. Releasing more upcoming scripts from game of thrown episodes, they leaked internal documents from hbos vp of film programing the gigabyte dumped had a spreadsheet of legal claims against the network, job offer letters to execs and 3thousand emails. These additional leaks are not a surprised to the network. They released a statement that they expected more data would be released after confirming the breach, saying in part it is reported a number of emails have been made public, the review to date has not given us a reason to believe the email system as a whole is compromised. Hackers took six months to break into hbos data network and got away with 1. 6 terabytes and if true this would be the largest hack in history. Stuart everybody is nervous. Hillary vaughn. Congress on vacation. They said they would stay to work it all out. What happened . They skipped town already. We are on it. Stuart i dont know the title but george harrison, am i right . What was it again . Got my mend set on you. I was right. Few moments ago we hit another alltime high, 22,126s, i think it was. 22,100. Who would have thought. Marriott taking it on the chin, down four bucks, that is 3. 8 . Now this. Congress still on vacation. The white house claims tax reform will get done this year. Listen to gary cohn, top advisor to the president. Look what he said on our show last week. It looks like a slimmed down tax cut plan, slimmed down maybe tax cuts for individuals and tax cuts for corporations. And it is not going to be paid for, is that how it is shaping up . No. I dont agree with that whatsoever. The way were going to do taxes, the way we have to do it, it will have to balance. We need to do permanent tax reform in the United States. Stuart okay. Permanent tax reform. That is more than just a couple of cuts here and there, tax reform, big picture. He says we can do it. Peter morici, economist and business professor says, i think you will say, no, we cant do big picture tax reform, is that correct . Not without some Revenue Source which he has taken off the table. Suppose you get rid of exemptions and deductions with regard to corporations to just lower the rates, you get down to 25 that way. Think about who will shelf out to k street because they are paying a lot more taxes . On average the tax take is the same. Big oil companies, companies undertake a lot of r d, folks like google for example, will be showing up, god bless them. So it will be very difficult to do that in that environment. You have to come up with a source of revenue so that you can lower the effective rate overall. Bored are tax adjustments would have done that but the Koch Brothers showed up at white house and nixed it. I dont see how he gets out of the woods. Their statement of principles, previous statements over and over again indicate they are simply ignoring facts of tax reform, generating revenue and political realities on capitol hill. Stuart seems to me the stock market accepts that we dont get tax cuts this year. Forlorn hope we dont get tax cuts. You agree with that. Everybody wants tax reform. Everybody understands that this system is disadvantageous. The french are already talking about lowering taxes and their rates are lower than ours. This is not so much the trump rally, this is the not ton rally. Think of it, suppose the democrats won the election and all things she promised to do that was all priced in. Corporate profits were priced in when i wrote about this, were getting a dividend from that. On historic basis the s p is not overvalued, selling at pe of 25, that is the historical average for last 25 years. This is very good time to continue gradually buying in. Stuart i given up hope of a tax cut at least until last year. Something small. They can do something. It will have to be temporary because of reconciliation. Stuart exactly. Or it will be small and not going to be consequential. Stuart what a shame. I want to know you as business professor thinking about this, Credit Card Debt is above a trillion dollars. Back to the level it was in 2008. Should i consider that a danger signal or is that a plus about the economy . I wouldnt consider a dank are signal simply because consumers dont have a lot of other debt. Back in 2008, they also had, second and third mortgages so they could by a fourth or fifth suv were not seeing that this time around. Probably this level of Credit Card Debt is handable. What it indicates we really need a tax cut because consumers cant grow spending much more than say two, 2 1 2 a year if theyre carrying a credit card burden, as they have been lately, behaving more prudently. Stuart one question were asking on the show this morning is, if you made money in the market, you have done well, why not sell half your holdings so you keep your profit, take it off the table and do that . Anything wrong with that . Yeah i think it is. If youre under 50, my advice always been to gradually buy in, be diversified. I like indexing. Were a good economists. We like indexing in the economics department. If you miss out on the table you will miss the next rally. That implies you can time the market. Stuart you believe there is another leg up to come . Doesnt matter whether there is another rally next six months. What matters is six, 12, 18 years. Stuart what about me, in my late 60s. Im in my late 60s too. Folks in the late 60s, depending on mortgage and other financial requirements should have cash to see them through a down market. If they have that, they dont need to take it off the table. After all your Life Expectancy takes you into early 80s. If youre married wife is about the same age, there is decent likelihood one of you will make it to 90. You still have a longterm horizon. I told you this before, stu, 30 years from now, you and i will still be doing the show. You have a life sentence with me. Stuart oh, you got me worried. Morici, thank you very much indeed. See you real soon. Take care. Stuart come own in, brian kilmeade, host of kilmeade and friends on the radio. The first question to you, brian kilmeade, on our screens a gentleman just been fired by google because he suggested there was a link between biology and the lack of women in high jobs in technology, and he also suggested that at google, they like diversity but not diversity of opinion. Well that man has been fired. Brian kilmeade, what do you say to that . They said it was because of his view on diversity and male and female, not about his conservative views. That hasnt stopped conservative media, hey, we got your back. This guy is gone. He has no union to protect him. He is serves at the will of the employer so he is out of there. It is amazing. You dont have freedom of speech. It is up to the many employer to make that decision. The days of saying men do this, women do that, not being standup comedian are over. I know that to be reality. Weve taken a lot of diversity courses at fox, regardless of my opinion of men and women im not going to say anything especially in the work place anymore. Let alone write it down in a manifesto. Right or wrong, that is todays climate. If i was to write that i dont think i would have job here either. Stuart what can you say or not say. Believe it or not. I havent read a manifesto. I should read more manifestos. I got through most of it, i dont think, nor would benefit me at all to write it down. I would see a therapist. Theyre sworn to secrecy. Stuart i will leave it at that one right there, brian. I have to talk to you about football. Yes, i will broach the issue of football. The miami dolphins, their starting quarterback got hurt, they signed a quarterback, jay cutler, to a one year, 10 milliondollar deal. There was speculation they would hire Colin Kaepernick but they didnt. Did they not hire kaepernick because he brings baggage about the national anthem. Couple things. Mike tanenbaum used to run the jets, disciple of bill parcels. Mike tanenbaum, turned around the franchise, one of top five teams in the afc maybe contend with the patriots who knows. They lose to a starter. Why not go to a guy that knows the coach and system, jay cutler. Yeah he retired around broadcaster for about a week. He comes back into the league. A smart player with a great arm, who maybe never achieved his potential. Colin kaepernick is still a runfirst quarterback. He is scrambler first. Does not have the accurate arm this guy has. This is simple. Not only kaepernick bring baggage, he doesnt fit their system. Talk about going to the ravens, they should get kaepernick. Listen i will not be a distraction, harbaugh family knows him. He was, brother was list coach with 49ers. Jim harbaugh is cope of ravens that makes sense. For the dolphins, they made a right choice for the dolphins. Dont make it more complicated than it is. Stuart i am so glad you really sorted through all of that and explained why kaepernick was not hired by the miami dolphins. Thank you, brian kilmeade. Next time we do this im asking you financial questions. I have 20 in my pocket. Any other questions im probably out of my depth. Stuart should i sell half microsoft stock and lock in profits i already made . Yes he . Stuart im not going to. Brian kilmeade you have a radio show. Thanks for sharing our audience. Appreciate it. Stuart tough new sanctions imposed on north korea. Next a guest who says those sanctions were big win for the Trump Administration. Next question will china play along with them. Well be back. Today, were out here with some big news about type 2 diabetes. You have type 2 diabetes, right . Yes. So let me ask you this. How does diabetes affect your heart . It doesnt, does it . Actually, it does. Type 2 diabetes can make you twice as likely to die from a cardiovascular event, like a heart attack or stroke. And with Heart Disease, your risk is even higher. You didnt know that. No. Yeah. But, wait, theres good news for adults who have type 2 diabetes and Heart Disease. Jardiance is the only type 2 diabetes pill with a lifesaving cardiovascular benefit. Jardiance is proven to both significantly reduce the chance of dying from a cardiovascular event in adults who have type 2 diabetes and Heart Disease and lower your a1c. Jardiance can cause serious side effects including dehydration. This may cause you to feel dizzy, faint, or lightheaded, or weak upon standing. Ketoacidosis is a serious side effect that may be fatal. Symptoms include nausea, vomiting, stomach pain, tiredness, and trouble breathing. Stop taking jardiance and call your doctor right away if you have symptoms of ketoacidosis or an allergic reaction. Symptoms of an allergic reaction include rash, swelling, and difficulty breathing or swallowing. Do not take jardiance if you are on dialysis or have severe kidney problems. Other side effects are sudden kidney problems, genital yeast infections, increased bad cholesterol, and urinary tract infections, which may be serious. Taking jardiance with a sulfonylurea or insulin may cause low blood sugar. Tell your doctor about all the medicines you take and if you have any medical conditions. So now that you know all that, what do you think . That its time to think about jardiance. Ask your doctor about jardiance. And get to the heart of what matters. Ashley congress and senate, guess what theyre on vacation. Still lots of work to be done in washington. Last hour we spoke with former utah congressman Fox News Contributor jason chaffetz. Here is what he had to say about it all. Roll tape. Stuart only 12 days where the house and senate are in session. That is before the debt ceiling deadline. Remember, if you look at that calendar six of those 12 days are flyin and flyout today. On flyin days the votes in house are not until 6 00 p. M. And own flyout days they are gone by noon. Biggest gauntlet they have budget, funding the government, border wall. Tax reform. Stuart you cant get it done. There is not a republican on the planet wants to fail on health care and go back to tell their voters, well i just voted to raise the debt ceiling. 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. Stuart you are looking yet north alltime high for the dow industrials. I dont believe we ever hit 22,130 before. That is where we are right now. Earlier this morning President Trump tweeted about north korea. Here it is. After many years of failure countries are coming together to finally address the dangers posed by north korea. We must be tough and decisive. Walter meade, professor at bard college, distinguished fellow at the hudson institute. Walter, the United Nations passed these tough sanctions but can we rely on china to follow through with these tough sanctions . That is a good question. The chinese are being deliberately cagey by voting for the sanctions at the security council, they sent a very positive signal but at the same time, theyre hosting large military drills off the korean peninsula. So theyre deliberately i think sending mixed signals. Stuart do you think we are telling japan, shout cree, and china, that maybe at some point in the near future were going to shoot down the next missile that flies out of north korea and over the sea of japan . It is hard to guess what people are saying behind the scenes but it does seem that the United States has been to ram home to china the belief that the United States is much more serious this time than weve been in the past about whats happening in north korea. Stuart that is the leverage, is it . If china doesnt go along with u. N. Sanctions on north korea, we will take action and shoot down those missiles . Is that the leverage which we have here . Essentially, yes. Our ultimate card with china is, if they dont help us avoid a war with north korea, they could face a massive crisis on their own frontier. Stuart do you think it is shaping up like that . Were talking almost cataclysmic terms here, shooting down a missile, big buildup on the border. Is it coming to that do you think . I hope not. But, North Koreans are very hard to predict. They seemed very focus about this missile program. As the crisis has gone deeper their rhetoric has gotten tougher. It is very hard to know who is bluffing. Stuart do you know whether or not we are in a position to shoot down one of their missiles . We have some of the most sophisticated weaponry in the world. Shooting down missiles is not an easy thing to do. Stuart well, can we do it, do you know . I think we could. Whether we, in theory yes. Whether with a particular at a particular moment, that is another question. Stuart my question to you, i need a value judgment here. Should we shoed down a missile . There may welcome the time when that is the most prudent choice. Stuart we would all say President Trump is a warmonger, right . Some might, some might not. I think the best defense of President Trump at this point, this is crisis his predecessors at least since the time of president bill clinton have been kicking the can down the road. President trump is in the white house where there isnt much road left. Stuart you cant ignore it, can you . If a foreign power says well blast america with a nuclear weapon, you cant just walk away an ignore it . You cant. You cant. It is true that the worry is the japanese would feel that if the u. S. Is threatened by north Koreas Nuclear devices, we wont protect japan. At which point even japan might start thinking of developing Nuclear Weapons. Not a good development. Stuart walter mead, you speak in sound bites which is huge attribute in television. Thanks for being with us, professor. Good to be with you. Stuart sound bites. Makes good television. Cofounder of uber says former Ceo Travis Kalanick will not return to the company. What is this . Ashley he put out an email to the staff. It is kind of not funny, if youre kalanick you wouldnt be laughing. Eric camp put this out. He said travis is not returning as ceo he says in the email. We are committed to hiring a new world class ceo to lead uber. Does that mean that kalanick is not world class . Uber must evolve and mature as we improve our culture and practices. There was speculation that Travis Kalanick might come back. He was pushed out in june. We understand, according to unconfirmed reports that there are a short list of three people, included in that would be former ge ceo jeff immelt. Stuart jeff immelt . Ashley very much grownup in charge of the company. He is a on the short list. Stuart not wildly successful at ge. Ashley leave it at that. A big name, put it that way. Stuart thank you very much, ashley. Ashley youre welcome. Stuart a new survey says airlines could save billions a year if they went without pilots. Tell me liz billions spending money on you know, pie lots. Stuart a bank says this. Liz ubs. But that same ubs report found more than half of the people they surveyed, 8,000 people would not fly a robotic pilotless plane. Less than 1 5 would. Ashley gone years without customer service, so why not a pilot. Oh. Stuart oh, good line. We have chelsea handler, leftist comedienne, says there should be a law against people who think racism is funny. Not quite sure about that law. Larry elder brought us the story. He is next. Actually next hour. Here is the issue, free speech anyone . Track your pack. Set a curfew, or two. Make dinnertime device free. [ music stops ] [ music plays again ] a smarter way to wifi is awesome. Introducing xfinity xfi. Amazing speed, coverage and control. Change the way you wifi. Xfinity. The future of awesome. 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 why on earth is congress on recess when obamacare is falling to pieces and they promised to do something about it . I think, stuart, theyre making a mistake. I think people in the United States want action. They want something done in health care. Obamacare is sco lapsing. Anthem is pulling out. People wit got hurt this fall and next year you without having insurance coverage. Stuart who is at fault, tommy . The Republican Party. The United States senate . Some members of the senate who dont like President Trump . What is going on . I think all the above. Health care is complex. Stuart you it is failure of the Republican Party. You it is failure of republicans not passing something. They have to get it done. As a republican, been avid supporter of the republican cause for many years it is time for congress to come back, get the job done, lets pass health care. Stuart do you put fault on any particular senator or any particular wing . You dont . I really dont. I think there is multiplicity of reasons. Health care in of itself is very complex. They havent got a plan to put things together. They should have had one coming in. Now they need one passed because america is waiting for it. You know this you are talking about it forever. I thank you for doing that. America wants health care revision plan. They want it now. Stuart i cant see it getting done because theyre on recess. When they come back, they have got 12 days to do the budget, the debt ceiling, and a budget. They have 12 days to do that. Theyre working right now. Theyre working back and forth. Hopefully come together with some sort of a conclusion. Even if its a sun any bill, lets get something done. Get the process moving. Stuart youre a republican. You see this from the inside. Right. Stuart what is the shot, what is a chance of getting a comeback, to do something . 10 . I think, i would say 20 . Stuart 20 . I think double that. I think america and people will be out talking to their senators and congressman saying get something done. Bo back and get something done. Republicans ran on this they need to come back to washington with a coordinated view and get something passed. Rethink the experience. Rethink your allergy pills. Flonase sensimist allergy relief uses unique Mistpro Technology and helps block 6 key inflammatory substances with a gentle mist. Most allergy pills only block one. And 6 is greater than one. Rethink your allergy relief. Flonase sensimist. Stuart this is day 201 of the trump presidency, and were told by the media that he has achieved virtually nothing. Well, please consider this by going after ilLegal Immigration, illegal border crossings were down 64 in may. No other president has been able to do that. On energy, the president has made america the dominant energy power. Oil and gas drilling permits speeded up, fracking encouraged. Its america that holds the key to oil prices, not to opec. In syria and iraq, isis has seen its territory shrink by onethird. The president said he would destroy isis. Hes clearly making progress. On north korea, mr. Trumps team has secured the most biting sanctions either, and hes assembled a military force thats probably capable of shooting down noko missiles. Havent seen that before. Lets not forget the appointment of neil gorsuch to the president and legislation to make it easier to fire people at the veterans department. Since the inauguration, the value of stocks has gone up 2. 3 trillion. Since the election, 4. 1 trillion. And since the inauguration, over one million new jobs. The next time you hear that we have a tonothing congress a donothing congress, nod your head in agreement, because thats accurate. And next time you hear President Trump has accomplished nothing, tell em to watch this show. Well set em straight. The third hour of Varney Company is about to begin. [laughter] stuart oh, yes, oh, yes, i do know that song. [laughter] and look at this, were giving it to you right now. That is yet another alltime high, put it on the screen, please. That is another alltime high for the dow industrials. For those listening to us on radio, 22,163 is the level, 44 points higher, 45 points higher. A sea of green amongst the dow 30. Markets hitting record after record after record. So here is the question weve asked frequently this morning, how about selling half of your stocks so you keep the gains but you leave the rest still in the game . Why not ask New York Times best selling author american mojo lost and found, his name is peter kiernan. And heres the question, ill ask it, why not sell half of what you got so you keep your gains, but youre still in the market . Well, lets take a second to imagine where we are. I go back to the spring of 2009. The dow at the time was 6,500. Stuart yep. And we were wondering, its got to go up from here. But no one, certainly myself included, thought maybe wed get to 10,000, 15,000. 18,000, are you crazy . 22,000 . Theyd think you were in a marijuana state. [laughter] they basically would not think that is possible. So here we are, weve come a very long way. Its hard for me sometimes to evaluate what a 22,000 dow is. So lets step back and look at one number. For the last 22 years if you took the total stock market as a percentage of the total economy, its averaged about one to one, 100 . Stuart all right. Yesterday the total stock market as a percentage of the total economy is at an alltime, historic high, 150 . What does that say . Thats saying anticipation. What are they anticipating . They are certainly anticipating Infrastructure Spending and regulation cuts. Theyre definitely looking for tax relief. Whats motivating it . Wonderful earnings and earnings growth, wonderful Revenue Growth and worldwide growth. Chinas growing, indias growing, japans growing, europes growing, even the emerging markets are i growing. So it tells me that if President Trump can do some of what he promised on the big three infrastructure stuart okay. Regulation, tax reform, youcan hold and the anticipation will pay off. If he fails to deliver on some of that, youre at 150 alltime, record high relatively k and so im right mow a holder. Stuart so youre telling me, stuart, do not cash in your profits on microsoft. Hold it, stay there. Thats what youre saying . Thats what im saying. Ill tell you, every one of these bull markets has a chosen bunch of stocks. In the 60s it was the nifty fifty including sears and simplicity pattern and polaroid. These things dont last forever. They were the red hot stocks in the 60s, cant go wrong. [laughter] so i would be most uneasy about the fang and microsoft stocks because they have come so far. Theyve been most of the gain in the market. Those would be reasonable. Stuart i want to talk to you about profits, john lonski, senior economist, on the show yesterday. He said profits are driving the rally. Listen to him, roll tape. The last time stocks fell sharply, that would be late 2015, early 2016, they were down 16 from their highs. We did have an outright contraction of profits. In order for the market to get hit hard, we have to have profits shrink yet again. Do i think thats going to happen anytime soon . No. Stuart so hes saying the reason why if you get a pullback, the reason would be lower profits, and he doesnt expect that to happen. So youre in line with him. Im stuart no pullback because profits keep growing. As long as profits keep growing. The one thing i would say, honest to god im on a bunch of boards, how can you get 10 improvement in your margins . Only one way. Tax cuts. If you dont get that, youre going to have to grind against with costs and everything else. So it would be a great wind in our sails to achieve what hes talking about, to have tax relief especially at the corporate level, and its up to the president. Hes got to sell that. Reagan did it in the last six months of his term. He was six years in when he went after tax reform. And he focused on almost nothing else. The president has got to focus on almost nothing else if he wants to get tax reform. Stuart okay. Lets see if we get any kind of tax cut doesnt have to be heroic, just something. Stuart something. Cut corporate taxes. That will be a big deal. Both sides of the aisle seem to agree on that. Absolutely. And it doesnt have to go all the way to 15 . Take it from 35 to 25, thats 10 . That helps employees, customers, shareholders and anybody who owns stocks in a pension or 401 k is helped by that. Stuart stay there, peter, hold on for a second. Ive got to turn to whats going on in venezuela. Utter chaos. I mean, the word turmoil hardly describes it. These are common place seens in caracas scenes in caracas. The country is in turmoil, it is virtual civil war. And yet theyve got more oil than just about anybody else. Certainly in the western hemisphere. Come on in, please, steven shock, author of the schaulk report. I dont want to know about where you think the price of oil is going to go, i want to know why it is a country with the biggest oil reserves in turmoil has not had any kind of impact that i can see on the price of oil here in america. Well, absolutely. And this is just because the economy and the infrastructure of the Venezuelan Oil industry is just absolutely decrepit right now. So the world has learned to move on beyond oil, beyond Venezuelan Oil. Now, the turmoil in venezuela, stuart, is actually great news for the United States because this means that exports, venezuelan exports of its most valuable commodity to the United States is about to soar. And im not talking about oil here. So lets consider that over the last decade the pull decade that the cha shes thats were in power, venezuelan immigration to the United States spiked 133 from where it was in the 1990s. So today the amount of venezuelans Holding Green cards for all of south america account for 13 of the share. Now, that is more than double where it was in the 1990s before stuart so youre saying that this turmoil will let loose a wave of people coming to the United States, and you say that is an asset. Absolutely. Now, lets consider political Asylum Seekers. Today, right now, since 2010 venezuela has provided more than half of the political Asylum Seekers coming out of south america. So to put that in perspective, stuart, in 1998 the year before chavez came to power political Asylum Seekers coming out of venezuela accounted for only 4 of the south american share. This means we are getting venezuelas best and brightest. We are getting the real immigrants who are going to be the fuel of the next generation of Economic Growth in this country. Now, last weeks sham election which is maduros kind of nod to hitlers 1933 act will surely enact a new wave of political Asylum Seekers coming to the United States. And at the end of the day, the intellectual capital that we are gaining will pay dividends far longer than a barrel of oil ever could possibly achieve. Stuart steven schork, original thinking there. You know what youre talking about. Thank you, sir. See you again soon. I want to alert the price of gas, im afraid its gone up again. Why do we play trumpets for that . The National Average for a gallon of gas, 2. 35. I was hoping for 2 even. Thats why you were out yesterday, you were looking for 2 gas. [laughter] stuart not true, not true. Let me get to apple. Change the subject, please. Lets get to apple. Again, cue the trumpets stuart that stock just hit an alltime high. I find that interesting. 161 on apple. The other big tech companies, theyve all hit their record high, and now here comes apple. Delaying a little bit, but 161 right there. Go. Can i give you the stat, to peters point . Apple is still bigger than, combined, ibm, united technologies, mcdonalds, American Express and dupont. These are not your parents blue chips. Were in a brave new world of the tech crowd running the show. Stuart and apple is worth as of right now 833 billion. Thats a lot. [laughter] stuart most valuable company in the world, bar none. Hold on, ive got more to do. I want to check credit card stocks. Theres news there. Credit card debt just beat the record that was set back when the Financial System almost collapsed in 2008. Over a trillion dollars is now taken out, borrowed on credit cards. Is that good or bad . Not sure. Some positive news though, the number of people on food stamps way down. Well, down a million since President Trump took office. Weve got the real numbers for you and the reasons behind the drop. Well tell you in a moment. First, were going to head to dallas where congressman Louie Gohmert will join us. What are you doing in texas instead of washington, d. C. Fixing health care . Hes laughing. He wont. [laughter] this. Well be back. [laughter] its a highly contagious disease that can be really serious. Especially for my precious new grandchild. Its whooping cough. Every Family Member, including those around new babies, should talk to their doctor or pharmacist about getting vaccinated. Stuart more than a Million People dropped off the food stamp rolls since the president took office, thats according to the usda. Food stamp participation at the lowest level now since 2010. Why . Well, number one, more states are instituting work requirements. People drop off if they have to work. Miss, President Trump cracking down plus, President Trump cracking down on ilLegal Immigration, so more immigrants are walking away from the food stamp program. Its down over a million. Now this, congress skipped town for the august recess. Theyre putting the growth agenda on hold. Congressman Louie Gohmert, republican from texas, is with us, and hes in dallas. A lot of our viewers are saying, what on earth are you doing . You promised to stay in d. C. , get something done, and here you are from sunny dallas. What are you up to . [laughter] well, it is sunny. And i may have a a smile on my face, but its easy to trace the tracks of my tears. Stuart yep. With respect to donny rivers. Im telling you, we were willing to stay, we are willing to to go back. But its even worse than ive heard anybody acknowledge. We were willing to do that. The senate, theyve still got to do Health Care Reform. If we dont repeal obamacare, at least most of it, then i think the Senate Majority will be lost in the next election. I know there are more democrats up than republicans, but this is a very dangerous time. And tax reform, as you know, it makes it more questionable whether itll get passed stuart ive got to interrupt you because ive got a question which is a difficult question to ask, but ive got to ask it. Okay. Go ahead. Stuart during the campaign, thencandidate donald trump really just wiped the floor with some senate republicans. He just knocked them right out of the ballpark. Rand paul, mr. Mccain was insulted personally. [laughter] do you think that the opposition in the senate to President Trump is a personal thing, that some of those senators who were really insulted in the campaign have not forgiven, have not forgotten, and to them its personal . Is there, is that going on . I dont think, i dont think thats it at all. I think that they get so many pats on the back from the the altleft media like the New York Times, washington post, they love getting the pats on back from the liberal media. I dont you know, i would say yes in normal life, but washington is not normal life. And so ive seen people constantly that hate each others guts, and theyll Work Together, theyll do things and go out and have a joint press conference. So thats you would think so if washington were full of normal people, but thats not the case. And let me tell you one other step ive not heard anybody bring up how bad this is. I asked in our last conference in the house before our recess, look, are we at least not going to have pro forma sessions each day so that we go ahead and adjourn so that at least President Trump can make some recess appointments. Hes being held up on his appointments more than anybody else in modern history. And i was told very directly, no, we will not do pro forma be session. Well, it turns out that the senate wanted to go ahead and adjourn for the month of august, and schumer, im told, said, nope, im not going to let you do a unanimous consent, and that means itll take 60 votes, and were not going to let you recess so trump can do appointments. Havent heard anybody else bring that up. But they are so vile in their hate and their desire to stop donald trump, not only are they holding up his con or fir missions, but confirmations, but they wont even let him make recess appointments. Now, he cant do it on a week, obama found that out from the courts, but its outrageous, how much theyre trying to stop everything good hes trying to do for the country. Stuart suffice it to say, what a mess. Louie gohmert weve got to get tax reform done. Weve got to, weve got to. Stuart come back and pound the table for us, please. Thank you. Stuart were going to take a ride on one of those speedboats. That thing goes fast. Heres the question, how much does it cost and how fast does it go . We will tell you, i promise you that. If you want to pursue the american dream, whats the best place to do it in . Which state . Tell you now, it is not new york, and its absolutely not california. Well tell you which state, by the way. But first, check this out. Elon musk, another project. Posting this animation, its a simulation of a Spacex Falcon heavy rocket launch. The real launch schedule is for november. If that launch is successful, itll be the largest rocket ever launched by spacex. Potsch you each drive a ford pickup, right . in unison russ, leland, gary yes. Gary i have a ford f150. Michael ive always been a ford guy. Potsch then i have a real treat for you today. Michael awesome. Potsch im going to show you a next generation pickup. Michael lets do this. Potsch this new truck now has a cornerstep built right into the bumper. Gary super cool. Potsch the bed is made of highstrength steel, which is less susceptible to punctures than aluminum. Jim aluminum is great for a lot of things, but maybe not the bed of a truck. Potsch and best of all, this new truck is actually gary all laughing oh my. Potsch the current chevy silverado. Gary im speechless. Gary this puts my ford truck to shame. James ill tell you, i might be a chevy guy now. laughing i needed something more to help control my type 2 diabetes. My a1c wasnt were it needed to be. So i liked when my doctor told me that i may reach my blood sugar and a1c goals by activating whats within me with onceweekly trulicity. Trulicity is not insulin. It helps activate my body to do what its suppose to do, release its own insulin. I take it once a week, and it works 24 7. It comes in an easytouse pen and i may even lose a little weight. Trulicity is a onceweekly injectable prescription medicine to improve blood sugar in adults with type 2 diabetes when used with diet and exercise. Trulicity is not insulin. It should not be the first medicine to treat diabetes, or for people with type 1 diabetes or diabetic ketoacidosis. Do not take trulicity if you or a Family Member has had medullary thyroid cancer, if youve had multiple endocrine neoplasia syndrome type 2, or if you are allergic to trulicity. Stop trulicity and call your doctor right away if you have a lump or swelling in your neck, severe pain in your stomach, or symptoms such as itching, rash, or trouble breathing. Serious side effects may include pancreatitis, which can be fatal. Taking trulicity with a sulfonylurea or insulin, increases your risk for low blood sugar. Common side effects include nausea, diarrhea, vomiting, decreased appetite and indigestion. Some side effects can lead to dehydration, which may make existing kidney problems worse. Onceweekly trulicity may help me reach my blood sugar goals. With trulicity, i click to activate whats within me. If you want help improving your a1c and blood sugar, activate your within. Ask your doctor about onceweekly trulicity. So it only made sense to create a network that keeps up. Introducing Xfinity Mobile. It combines americas largest, most reliable 4g lte with the most wifi hotspots nationwide. Saving you money wherever you check your phone. Yeah, even there. See how much you can save when you choose by the gig or unlimited. Call, or go to xfinitymobile. Com. Xfinity mobile. Its a new kind of network designed to save you money. Pleasure. Stuart i know that. Michael jacksons thriller. Listen to this, the 3d version of that video will debut this month. Director john landis restored the original film, enhanced the sound and video resolution. He says the team got creative with some 3d effects. He says festivalgoers will be treated to, quote, a rather shocking surprise. Look at this, drone footage of teslas massive gigafactory in nevada. It produces batteries. And get this, its not even finished yet. Construction is still ongoing. Its slated to reach full capacity next year. Musk says when its complete the factory will have the biggest footprint of any building in the world. Before the break we asked you, yes, the best place to pursue the american dream. The answer . Iowa. A new study says affordable housing, low unemployment make millennials its easy for millennials to buy a home. Plus, iowa has jobs in Industries Like manufacturing, agriculture, finance, insurance, bioscience. Iowa, the place for the american dream. No comment from anyone. Very good by the chamber of commerce. Stuart if they could do something about the weather. Individual stocks, theyre moving, here they are. Marriott, weaker forecasts. Its only down 2 , but 2 it is. Cvs, the retail sales section not doing well, much less customer traffic, okay . Down 2 . Sales down but profits are up at ralph lauren. Nice gain, 9 . Not bad for ralph lauren. Now this, were going to show you a street in San Francisco which was bought by a couple. The street has 38 mansions on it, and they bought it for 90,000. Now, that couple can is considering charging residents for parking. [laughter] thats a good idea. Theres money everywhere you can spit in San Francisco. Judge napolitano on that this a moment. And were joined by a guest who says trumps proposed immigration bill will not raise wages more americans as the president said it would. Stay right there, lots more still to come. Rethink whats possible. Rethink your allergy pills. Flonase sensimist allergy relief helps block 6 key inflammatory substances with a gentle mist. Most allergy pills only block one. And 6 is greater than one. Flonase sensimist. When this bell rings. It starts a chain reaction. Thats heard throughout the connected business world. At t Network Security helps protect business, from the largest Financial Markets to the smallest transactions, by sensing cyberattacks in near real time and automatically deploying countermeasures. Keeping the world of business connected and protected. Thats the power of and. Stuart i know this. The name of the song is jump, isnt it . Uhhuh. Stuart who by . Van halen. Stuart of course. Of course, i knew that. Thank you very much, indeed, everyone. Beethoven . [laughter] stuart thats not a good bump in music, unless you do stuart in which case everybody tunes in and watches. Much more up your alley. Stuart absolutely. We hit the mark with lots of green on the lefthand side. Now this, our next guest has an article in the washington post. Heres the title. Trump says the proposed immigration bill will raise wages for americans. It wont. Jeremy robbins wrote it, hes the executive director of new American Economy. So if we cut Legal Immigration from a million to a half million, you say that will not raise wages for americans. Why not . Well, thats right. There are a lot of americans, there are millions of americans struggling. We want to raise wages stuart yeah, okay. Take away americas great competitive advantage. People want to come here, people of working age that are going to make us competitive and grow is not how you do it. Either a job goes to an american or someone else, but thats not how companies or the economy works. We want to grow and compete, and we need skills and people that are going to help. Stuart okay. To you object to the other side of the coin which is weve got a meritbased or were going to have a meritbased immigration system where we pick and choose the people we want and the skills we want . You approve of that. Yeah, absolutely. I thought you were very articulate when you said we have an advantage that people want to come here and we have skills that we need. But there are a lot of skills at the lowskilled end too. We needing a churl workers, a fisheries industry that needs workers. Absolutely, our system is not working. It is broken, and we should be focusing more on skills. But that doesnt mean we need to cut stuart dont cut Legal Immigration. 100 . Stuart are you an open borders kind of guy . Absolutely not. We have to recognize we have to control our borders, take control of who comes here and who doesnt, and we have to protect american workers. But our system right now doesnt attract the talent we need or help american workers. We need to do both. Stuart its going to be a ten tenyear process, isnt it . A long time frame. Right. But youre going to cut off one of americas best economic assets, right . Immigrants have a trillion dollars in spending power. There are six million americans who work at companies founded by immigrants. This will have realworld consequences stuart okay. Is it okay to say to those new immigrants, hey, you cant go on welfare once youre here . One of that, you cant do it . We to that now. We say that legal immigrants cant go on welfare right away. We want people to be contributing to society. And i think the reality is if we can find a way for them to better contribute, then i think we absolutely should do that. Im not saying going on welfare is the way to do that, but absolutely. We should have a system that looks at the economy. Thats not what this bill does. Stuart okay. Jeremy robbins, you passed the test. You speak in sound bites, you are clear i hope we can get our message out. Thank you. Stuart you did. Thank you very much. Which one of varneys producers told you by calling him articulate [laughter] guaranteed to be back on the show . A smart one. [laughter] stuart sorry. Moving swiftly along [laughter] former attorney general Loretta Lynch used an alias to write emails about that meeting, the famous meeting on the tarmac with bill clinton. Napolitano is here. Why would she use an alias if shes got nothing to hide in. I really dont know. Youd really have to ask her. I doubt were going to get the opportunity to do so. There is nothing illegal or unethical about using the alias, but it is odd to, and it does raise the antenna. Now, she did tell the freedom of information act people that she used the alias, but when you ask for emails from you ready for this . Elizabeth carlyle, thats the alias. This is what the emails look like. [laughter] they are blacked out. Stuart so we dont know concern. So we dont know what was many them, even though she really didnt succeed she succeeded in protecting herself not by using the alias, but by these blackouts. Who did the blacking out . Stuart yes, who said that . The Jeff Sessions Justice Department. Thats what has me infuriated. I would have expected the Obama Justice department trying to protect its attorney general. But if she did something untoward with bill clinton and she apparently did, we have the right to know about it. Stuart no wonder the president is angry at Jeff Sessions. Well, i dont know if the president is aware of this kind of blacking out, but this is a violation of the Public Policy that requires transparency. Why is it that the present administration wants to protect its predecessor . Stuart why . So its successor, the Justice Department of president whoever, fill in the blank, wont come after it. Thats dirty little secret of the Justice Department, and its condemn national. We have the right to know whats going on, and people who break the law should be prosecuted no matter whether theyre the predecessor or the present stuart its good to see you back in form, pounding the table there, judge. You asked that i bring these props, and i brought 350 pages of blanks. [laughter] stuart okay, i got it. [laughter] i was going to talk to you about the u. S. Attorney for oregon. He wants local cops to cooperate with federal immigration officials, but im going to bypass that okay. Stuart because i dont think theres any strong opinions to be voiced on that particular issue. Thats whats going on in oregon. I want to talk to you about couple which bought at auction a street in San Francisco, they paid 90,000 for the street and may now charge residents for parking. I wonder be they can charge people for if they can charge people for driving on the street since they now own it. What a cash cow that would stuart thats the street and thats the couple. It is a lovely, beautiful, even magnificent neighborhood. One of the, some of look at that home. Some of highest priced real estate in the city of San Francisco is also a Homeowners Association. The Homeowners Association refused to pay a fee to the city. The city, not realizing it was a public street, sold it to this counsel. This is an onlyincalifornia story. There is a proposal on the ballot this november in california to secede from the union. I hope it passes. [laughter] stuart it will not. But they could theoretically, they could charge for parking. I dont know the answer to this. This is virgin territory. This has never happened before where a city, by mistake or intentionally, sells public property. The public has a rightofway. Can the owner charge people for using that rightofway . I dont think so. These people may have lost the 90,000. Stuart but as a libertarian, you would surely support their right as a libertarian, i believe in private roads, you know that. [laughter] you really want to go there . Stuart no. No, no, no. Youre bitter again. [laughter] stuart youre off to a good start, you know . [laughter] dont mess it up. [laughter] thank you, judge. Thank you very much. Lets get to foxnews. Com automotive editor gary who is today testing a speedboat of all things. Hes on new york citys hudson river. Okay, take it away. At some point tell me how much and how fast. Go. Reporter how much . 1 million. 950,000, basically. How fast . 180 miles per hour. Recordsetting, world record holding. The hull boat is boat by outer limits in rhode island, its powered by two Mercury Marine engines from wisconsin. 2700 horsepower, stuart. I dont care if youre in a car or an airplane or a boat or a chariot, theres nothing like having that many horses at your disposal. This things a rocket. Its a lot of fun. It is expensive, but you know what . The boating industry is back bigtime. Power boat sales are up the past seven years, and theyre just getting stronger, about a quarter million every year, 95 of which are made in the usa just like this one is. Stuart all right, gary, i think we got the gist of that. Nearly a Million Dollar theres, it goes 180 miles watch out if youre kayaking on the hudson. Stuart keep that video up. Do you need a license to drive a boat that goes 180 miles an hour . Thats a good question. There must be speed limits on the river. Gary would know that stuart gary, can you hear me . Do you need a special license for not a different license. No, you know, the waterways have different rules, but right here we could take this thing up to 100 if we wanted to. Hey, stuart, the fun thing about this, Mercury Marine sells a car version of this engine. You could put it into your minivan with 1350 horsepower. [laughter] stuart very funny, gary. Drive in your flipflops. Stuart let me remind our viewers flipflops on the stuart i drive a town and country van. Any comment on that, gary . No comment. Stuart its four years old. Im up for a renewal. Take it easy there, lad, were insuring you, i think. Well see you shortly. On the hudson river, how about that . Chelsea handler, lefty comedienne, says there should be a law against people who think racism is funny. Not quite sure what kind of law. How about free speech . Larry elder sent us the story. He will address it. How about one . Affirmative action based on income, not race or ethnic background. Oh, no. Weve got larry you elder on tht one as well. Dows up 38, new high. Well be back. Liberty mutual stood with me when this guy got a flat tire in the middle of the night. Hold on dad. Liberty did what . Yeah, Liberty Mutual 24hour roadside assistance helped him to fix his flat so he could get home safely. My dad says our insurance doesnt have that. Dont worry i know what a lug wrench is, dad. Is this a lug wrench . Maybe . You can leave worry behind when liberty stands with you™. Liberty stands with you™. Liberty mutual insurance. Im Nicole Petallides with your fox business brief. Cbs is stepping up its Digital Strategy as viewers habits are changing. The stock is up this morning about 1. 5 . Saying it is now ramping up and expanding its streaming service worldwide. In fact, les moonves says itll start in the canada first and then expand to all access abroad. And also launching a new digital sports network. The stock has done very well over the last 52 weeks, its up almost 25 . And well also watch for everything mayweather mcgregor. That is on the 26th of august in las vegas are. Cbs says a payperview will have that directly available to the consumers through the showtime app. You can stream that. And also keep it here on fox business to watch for disney. It reports after the bell. 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. Stuart comedienne chelsea handler, she suggested there should be laws against, quote, people who think racism is funny. Larry elder, salem radio nationallysyndicated talk show host, is with us now. I dont know what she proposes, but it sounds like [laughter] i dont know why youre laughing, larry. I mean, she sounds like she wants to censor free speech. Is that right . It sounds like that to me too. She said wouldnt it be great if we had a law against people who think racisming is funny. That sounds like suppressing thought, to me. And if thats going to be a law, she better hope its not retroactive, because she made some cracks about melania that one could argue were pretty politically incorrect if not racist stuart theyve gone about her not being able to speak english. Pardon . Stuart theyve got this in europe. You are not allowed to say what the authorities interpret as islamophobia, for example. You may not criticize islam, and if you do, youre out of bounds. Thats against the law. I dont know whether you could lose your job or get fired, i dont know what happens to you, but theyve got those laws in place there, and i think its directly opposite free speech. Of course it is. They also, by the way, had laws like that before nazi germany that suppressed free speech, and the nazis argued they were a persecuted minority and used those laws to argue that they were being suppressed by the state. So those laws did not prevent the rise of nazi germany. I dont know why it is we think that the antidote for bad speech is to eliminate it. The antidote for bad speech is good speech. Stuart yeah. You put it very well. I think youre absolutely right. I want to talk affirmative action for a moment. The Justice Departments looking into a lawsuit that claims the program discriminates against College Students from some racial backgrounds. Some people say affirmative action should be based on income, not race. I dont know how that would work, but what do you say about it . Well, the problem with lowering standards for any reason is once you lower the standards, you increase the chances of the student flunking out. Weve had racebased preferences now for decades, and it turns out that black and brown students that are admitted with lower standards are dropping out at a much higher rate hand white and black and brown students admitted under normal criteria. And it also turns out that in california when we got rid of racebased preferences about 21 years ago, it turns out that the asian students that got into the more competitive campuses at ucberkeley and ucla were getting in at a higher rate after affirmative action than before. Which means black and brown students less qualified were getting in over Better Qualified asian students. Its not fair. I thought the whole point was to make up for racism and jim crow happening to black people. Its not fair. I thought we were all about a color blind society, you know . Based on character, not on skin color. Stuart well, what about this idea of affirmative action based on income . I guess that would be much more difficult for wealthier students to get in than poor students. But again, thats messing with the criteria for getting into an inte leg chul environment intellectual environment. Thats right. And there are thousands of colleges and universities everywhere from Community College to harvard that can match your skills. And regarding money, the poorer you are the more money there is available. It is a myth that college is so expensive that poor people cant go. Theres also a college or university that can match you and match your abilities, and theres all sorts of money thats available for people who are disadvantaged. Stuart what do you make of the google guy who was fired because be he objected to googles, whats the word, diversity operation which he said was not diverse in terms of opinion . He was fired. What do you make of this . Outrageous. All he said was im in favor of diversity, i just dont want it crammed down our throats. It turns out some women dont want to go into sciences, and some men are interested in working jobs they dont like. Thats all he said. For that reason, he got canned. My goodness, sounds like liberal fascism to me. [laughter] stuart you say that with a smile on your face. Well, im in california, stuart, you have to smile. Stuart yes, you do. All right, larry, thanks for joining us. As always, great stuff. My pleasure. Stuart now this, Charles Smith, the largest independent winemaker in the state of washington, is with us next. And hes got some news that he will break on this program. That a man has won all kinds of awards for his wines. Big surprise coming after this. Approaching medicare eligibility . You may think you can put off checking out your Medicare Options until youre sixtyfive, but now is a good time to get the ball rolling. Keep in mind, medicare only covers about eighty percent of part b medical costs. The rest is up to you. Thats where aarp Medicare Supplement insurance plans insured by Unitedhealthcare Insurance Company come in. Like all standardized Medicare Supplement insurance plans, they could help pay some of what medicare doesnt, saving you in outofpocket medical costs. 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Call now, request your free decision guide and start gathering the information you need to help you keep rolling with confidence. Go long™. Stuart well, look whos here, the man himself. This is Charles Smith [laughter] made a name for himself in the Wine Industry turning out a wine called kung fu girl. That was your label. Wildly successful. You won all kinds of awards. I know youre good, because my sons a winemaker, he says youre good. And now youve got a surprise for us. What is the surprise . Well, today i am rebranding my winery. You know, i started with kay vintner, small winery, and i grew and eventually became Charles Smith wines, and then here again i find myself needing a new name to embody all that i do, encapsulating the idea that everybody should have access to good wine. And the name that i thought that would embody this most is wines of substance. Stuart wines of substance. Thats nowhere near as good as kung fu girl. [laughter] well, kung fu girl was under Charles Smith wines. Youre right. Kung fu girl is so much better than the name Charles Smith wines, but it embodies it all, and Charles Smith wines was the umbrella. Here went get wines of substance that means every wine within my portfolio has a reason to exist and comes with a true substance, which is the quality stuart what do you mean, hold on. What is true substance . What are you talking about . Well, substance is the quality of of being valid, significant and important. And i think that the wines that we produce whether they be a reasonable price or at the very high end should embody all of that. Its really about integrity, and wines of substance embodies that. Stuart you really did take off, didnt you . You were unknown, i think what, 25 years ago. Absolutely. Stuart now youre literally winning world prizes all over the place. I know this for a fact. Yeah, wouldnt you know . Who would think . [laughter] stuart we thought you were going to come on with an announcement that you were going to get your haircut actually, this morning i considered chopping off a little bit for you this morning [laughter] but i decided i should continue as i go. My little girl says nobody will recognize you. Stuart everybody says the same thing, dont they . You come on, youre a world class winemaker, and youve got hair that makes you look like a refugee from the grateful dead. Thats a little unusual. Were not used to that kind of thing, are we . Well, in the world of wine, we are. As we said before, theres a lot of free spirits in the world of wine from one end of the spectrum to the other. The one thing that draws us together is our passion for wine. And, you know n doing so, you know, we will make wild labels, well push the boundaries of wine, and well also represent ourselves in our most true form because really the artist can be in any form. He could be in a buttondown suit or have big hair or come in in ripped jeanses and a tshirt. Integrity is integrity, truth is truth, and i think thats what i kind of embody. I do my thing, and what i do is i make wine for the people. And i think thats whats most important. Stuart when you taste a wine, you do the tasting thing, do you spit it out or do you swallow it and get a buzz . For me . Most of the time swallow it and get a buzz. [laughter] why not . Stuart its the hair that makes it. Thats what its all about. Yeah. Also we have a lot of events at winery as well. For example, at the end of this month, i have two headlining bands, and we have 18 producers from germany and from the u. S. , and, you know, i imagine the people that are going to come are going to pretty much swallow most of the wine. And im wearing this button that says free, and its not a political statement today, nor do i care to make one. Since im rebranding my winery, i thought itd be a great idea to give free tickets away. So the first hundred people that email me, charles wines of substance. Com, will receive two tickets to the riesling revolution on august 26th at my Charles Smith wines jet city. Stuart you are good. Ill give you that, young man. [laughter] thank you very much, stuart. Stuart give us that email address again, why not . Go ahead. Sure, its charles winesofsubstance. Com. And just email me there, and well get back in touch with you and hope to see you out here in seattle. Today its going to be 85 degrees, clear or blue sky and, stuart, youre welcome to come out and visit me anytime. Stuart youre killing me. [laughter] Charles Smith, you always do well on this program. Thank you very much, indeed. Congratulations thank you for having me. Stuart good luck now. Almost out of time, but there thereby a fraction for varney after this. Stuart we gradually upon up right since the opening bell which is what, about 2 1 2 hours ago. Were now at alltime high for the dow, 22,173 and rising as we speak. Lets see if the rally continues with Connell Mcshane sitting in for neil. The. Connell thank you, stuart. The North Koreans threaten to make the u. S. , quote, unquote pay for the sanctions. Ambassador nikki haley saying the world is on board getting kim jongun on line. Basically what you saw all the countries come together saying this has got to stop. This is not something we think can be reckless and casually dealt with. That is what he has done