tv Varney Company FOX Business February 5, 2016 9:00am-12:01pm EST
courtney, charles payne, steve moore, steve cortez. it's now time for "varney & company." stuart varney, it's all yours. ♪ >> our country-- >> i don't think so, the backbone, you know the backbone of our country, people who came here and came here legally. people who came to this country legally and wokked their (bleep) off and made the country break, that's the backbone. stuart: they came here legally and made the country great. legal immigrant, citizen varney. good morning, everyone. now you're talking, a good sanders-clinton debate last night. the gloves came off, hillary was feisty accused. bernie:y -- bernie of a smear: how about this, pay for green transportation projects with a
tax on dirty oil. $10 a barrel. that is the obama team's proposal. and then there's that jobs report, weakness in hiring, that's how i see it. only 151,000 new jobs created last month and that participating rate, who is working, still at a generational low. let's see how the progressives spin this one. yeah, "varney & company," legal immigrant, about to begin. ♪ breaking news, here it is, you saw it a few minutes ago, and we've got a crane collapse in lower manhattan. looks like a huge crane, actually. the address 40 worth street. we understand our affiliate know new york wnyw is saying one death, several injuries. this occurred around 8:15 eastern time.
maybe 45 minutes ago. as you can tell, that happened right in the middle of the office rush hour in lower manhattan and it's quite a scene, that's a huge crane and down it came. we'll bring you more details and pictures, this is a breaking story and we're on it, of course. stocks going to be down about 40-odd points for the dow. oil we have around $31 a barrel. okay, you know that. here is some very important numbers on markets as well. we have the yield of a 10-year treasury. i hate being technical, but that's a very low field. that's a very low interest rate. that is a sign of a troubled economy here and overseas. we don't normally show you premarket stock quotes unless they are dramatic. i've got a dramatic one for you. that would be linkedin, huge hair cut coming at the opening of trading today. they had a weak outlook and some users are not exactly
thrilled about the new site design. it's going to be down what, 30, $40 per share, a big drop. the january jobs report showed, i say it shows weakness, only 151,000 new jobs created, not much. market watcher, jeff is with us, i'm saying that's a weak report. are you with me saying that's another pointer towards a slowing economy, if so, what impact on stocks? >> no question. here is what you have to look at not only does it point to a slowing economy, sending a mixed message. a 5% unemployment rate, this mixed message, according to the fed, according to this report we're near full employment and because this is a lagging indicator, because we have a future of further slowdown, the fed is in a dilemma. they're saying, first of all, they're confused how they're showing that. now they're trying to decide was this--
this rate hike too soon or do they need to take it away or do they need to lower rates. it just leads to more confusion. stuart: they're not talking about raising rates next month or later down the year, that's off the table? >> here is a fed that wanted deflation and got deflation and the only growth they've gotten is anemic at best. what do they do? the markets are going to be confused, that's why the markets are as volatile as they are. stuart: you're still a bear. >> i'm still a bear. stuart: the dow jones industrial average, you say, is still going down more? >> keep in mind i will never underestimate the stupidity of the fed to do something truly desperate to save the stock market. i think we'll have an awful lot of volatility, a-- look at every single rally we had. it's all been behind these acts of desperation from central banks around the world, we're going to continue to have that volatility. stuart: please stay there, we want more coverage for you.
i use the expression, i'll use it again, the gloves came off at the democratic debate, hillary clinton and bernie sanders with ent-- went head to head. watch this. >> one of the things we not only talk the talk, but walk the walk. i am very proud to be the only candidate up here who does not have a superpac, who's not raising money from wall street. >> you will not find that i ever changed a view or a vote because of any donations that i ever received. i think it's time to end the very artful smear that you and your campaign have been carrying out in recent weeks. >> oh. >> and let's talk -- let's talk about the issues. stuart: okay. i said the gloves came off, but you remember, if you watched it, there was no attack from bernie on hillary's worsening e-mail trouble, that was kind of off the table. look at the latest poll.
and he tops clinton in new hampshire. he's 61 is and clinton down at 30. tammy bruce is here. you're the former head of the chapter of n.o.w. >> national organization of women. stuart:. >> i was waiting for hillary to throw an ashtray at him. stuart: how about a lamp? >> you never know. as a feminist, this is a woman not clearly well-liked. you heard the room boo. he raised 5 million more dollars last month than she did, which is an extraordinary thing for him at all, but really, the feminism was not about turning into this. we want a woman to be president, but we want a woman who you can trust, who knows what she's doing, who does not abandon people who are in trouble, who does not stand next to and enable what some people say is a sexual predator. this is a woman who is an example of what not to become and yet, there's a sense of wanting to elevate her.
so this is about leftist policies though-- >> wait a second. she said at the end of the sound bite we just ran, let's talk about the issues. what one issue not mentioned is the elephant in the room and that's return to prosperity and economy. here we are sliding towards, it's a definite slowdown, maybe recession, it goes unmentioned. >> i don't think either one of them really wants to talk about the issues because they've devolved into arguing who is more of a progressive, which is who is going to be more willing to destroy the country. i mean, they can't really talk about the details of the issues because they're the problem. they've been in power for eight years and we've seen this decline. bernie sanders proposals are not only, you can't implement them, but they do destroy countries. her proposals are more of what barack obama's done and look at where we stand. they prefer the fight, prefer the distraction because they actually also think they're going to walk into the white house. woo we have to make sure--
>> i'm smiling because bernie sanders policies, they destroy countries. >> and the policies in education failed. nobody knows-- >> hold on a second, i've got breaking stories, more developments, this is the crane collapse in lower manhattan. new pictures coming up. ashley: here is what we know, this crane came down on a very narrow street, worth near-- this is the financial district right at church and worth street and of course, as we know, people are going to work. they're going to the stock exchange, they're going about their business during the peek commute time. this crane falling, smashing on top of cars, we believe were parked. two people were reported being treated at the scene and others. e.m.s., police are all there
trying to figure out what happened and who could have been injured in this. stuart: what strikes me is the size of at that crane that fills a lot of the street. ashley: you don't know how big that crane is. and how could this happen? we have quite a little snow coming down, but there's not exactly high winds. we'll wait and see why. >> we're going to be grateful that more people aren't injured when we get the actual details of this. stuart: moving on, something that did not come up in last night's debate. president obama's proposed $10 per barrel for clean, green energy. it's always a solution, a tax. ashley: this is on oil imported. $10 a barrel on imported oil not exported oil. what we don't know what about the oil we pump ourselves and use here? will this be subject to the $10 tax? oil companies would pay it, we're told, but we know who ultimately will end up paying
for it, you, i, and everyone else out there. stuart: i don't know where the money really goes to. ashley: it's supposed to go to highway funds, to clean transportation systems, get us off the dependence on oil. of course, what a great timing when the oil industry is being crushed by low prices why don't we throw on a tax on top of that. this is going nowhere, copingal republicans are going to say see you later. stuart: hold on, jeff is here, you've got something to say about a $10 per barrel oil tax? >> yeah, i mean it's adding fuel to the fire for-- we have this massive amount of supply and the way that they're going to deal with supply. this goes to show that the government and every solution that they come up with, it always has the opposite effect. they want inflation, they get deflation, they want to reduce the supply of oil they're going to increase the supply of oil. thank god it's not going to pass congress. stuart: a neat summation there. very good. let me go back to the crane collapse in lower manhattan, new york times says at least
one person is dead. okay. this happened roughly one hour ago. that's when it actually happened. >> yes. stuart: now the reports coming in, new york times says one person is dead. we also have word that several injuries are there. it's at least 15 injuries now reported. it was at what is it, 30, 40 worth street between broadway and church. i'm giving you this precise address because many of our viewers will know exactly where this is. ashley: yes. stuart: this is the financial district of lower manhattan. it came right at the time when office workers are going into work. couldn't have been a worse time for it to happen and that's a massive crane. obviously, more coming up. we're keeping a close eye on it, breaking news, we're on it. we'll tell you all about it in detail. plus, you remember this? martin shkreli making faces on capitol hill pleading the fifth. one of the congressmen on the committee joins us in a moment
>> we kept you up-to-date on the story. the crane collapse in lower manhattan, video right from the scene. one person dead according to wnyw. worth street is where it happened in lower manhattan. 15 injured we are reporting. it happened during rush hour, that's 8:24 a.m. this morning eastern time. deirdre sullivan is on the line with us. deirdre thanks for joining us. i believe you were close to the scene of this collapse. what did you hear? >> we didn't hear anything, but we had been hearing the police and sirens going for about a half hour so i went on twitter to find out what was going on.
i'm actually going to walk out there right now to see what's happening because we live a block away. stuart: are you holding your phone and i've got video on our screens right now of fire trucks, lots of police, and earlier we showed a very large crane, the one that had collapsed, it was very large indeed. are you in a position right now to tell me what you're looking at? >> you know what? i'm actually in a stairwell of the building and take me a minute to get there you want to call me back. stuart: we'll get back to you shortly. looking right at the scene, that is live pictures from lower manhattan. what you're seeing there is the aftermath of a crane collapse. we're on it, you'll hear all about it. in case you missed it, it was this time yesterday, actually, that martin shkreli, the guy who raised the price of a lifesaving drug 5,000 percent. he was on capitol hill,
smirking and rolling his eyes and then of course pleaded the fifth. roll tape. >> on the advice of council i invoke the fifth amendment privilege. on the advice of council, i invike my fifth amendment private against incrimination and respectfully decline to answer your question. >> i intend to use the advice of my counsel, not yours. stuart: all right, my counsel, not yours. afterwards shkreli went on his youtube account to blast the committee members. roll at that tape. >> the reality is it's pathetic they need me to get publicity for themselves and i think it's transparent, i think it's pathetic. they could have had a closed chamber meeting with me. they didn't want that. they could have given me immunity they didn't want that. the last thing they wanted to do was have me testifying, it would have been embarrassing
for them. stuart: and he also called the committee members imbeciles. and one of the members of the committee yesterday. was it just political theater, congressman? >> obviously not when you raise the price of a drug 5,000 percent, stuart and you have someone like that who is proud of what he's doing, to give him immunity is the last thing that congress inends it-- intends to do. i hope not only what we have is accountability, but obviously when we roll that tape and he will not be as smug as perhaps he was yesterday in that hearing room. stuart: wait a minute, are you going to bring him back or how are you going to get the truth? how are you going to get him to answer questions? >> well, i don't know that we get him to answer questions because of the constitutional nature of invoking the fifth as he did yesterday, but, obviously, we had other executives from his company. i can tell you that type of business model, the days are limited for because part of
this is the fda allows these quasi monopolies to do the small drugs to allow the 5,000 percent. a notice to investors they need to watch out because there's a real laser focus with the fda to make sure what he does doesn't happen again. stuart: okay, mark meadows, i'm sorry we're cutting this short. we've got a lot happening. i think you got right to the point. >> thank you, stuart. stuart: sure. one person dead, at least two others hurt, maybe more than that in the crane collapse in lower manhattan. we'll keep you updated on it, of course, a gigantic crane. more varney after this. you both have a
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switch to liberty mutual and you could save up to $509 call today at see car insurance in a whole new light. liberty mutual insurance. >> more on this breaking story. the crane collapsed in lower manhattan. you're looking at the details. ashley: this happened a few blocks from the world trade center for people not familiar with new york. one of the reporters on the scene for the local fox affiliate appears that the crane snapped in half. that's the only person i heard describ describe it like that. one person dead and others injured. 40 worth exactly an hour ago. ashley: call came in at 8:24.
more news on the european migrant situation. officials say they got tips showing 100 isis members living among the recent refugee migrants. in france a new report shows the number of radical islamists in that country has doubled. tammy bruce with us, former chair of the l.a. n.o.w. chapter. >> don't remind me. stuart: where is the women's movement in europe? here comes an influx what look like misogynists frankly. >> the world right rights and women's rights and civil rights has been hijacked and moved to the left. these are problems because when the left find success they're never really about those issues they're effectively frauds now. people genuinely caring about women's rights and gay rights are pushed to the back. this is about social justice, the preference for chaos and like, wanting this dynamic to
move and so if you really care about civil rights, you're out of luck, not only in europe, but here in new york as well. stuart: so many news operations are ignoring this story. in our opinion, ashley and i are on this and so are you, i think it's the coming breakup of europe because of the migrant influx, no way around it. >> and the left has a narrative they don't want interrupted and it always ruins them and we've got to pick up the pieces. stuart: don't forget the jobs report, participation in the work force is still at a generational low, virtually no impact on the stock market, down about 18, that's it, but look at this, linkedin going to fall out of bed when the market opens, down 30, 40, $50 a share. we're still watching the crane collapse in lower manhattan. the opening bell coming up for you. at ally bank, no branches equals great rates.
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at ally bank, no branches equals great rates. it's a fact. kind of like vacations equal getting carried away. more proactive selling. what do you think michal? i agree. let's get out there. let's meet these people. stuart: dramatic new pictures of a gigantic screen, look at it, this occurred one hour ago in lower manhattan, that is an enormous strain that came crashing down an hour ago. the cars were crushed. one person according to the new york times has been killed. ashley: crushed in that car,
pronounced dead at the scene, two others were rushed to the hospital. stuart: the owner of the green says that it fell from 20 stories that is so big and the impact so strong that it burst a water machine where the accident occurred. terrible tragedy. the market has been opened. it is friday morning. we expect a flat opening. we are down 6 points, very early going. linkedin will be the stock of the day ended is this huge loser down big. 35% down. $67 down. you don't often see a drop like that from a big-name tech stocks like that. week design of the linkedin sight is what they are saying is part of the reason. we will get into is that. joining us ashley webster, liz macdonald, scott shellady, a very big hair cut from linkedin, some say it is because of the
redesign of the site. liz: facebook at work could be launched this year, linkedin at number hundred million users to 1 billion day for facebook, if facebook watches this competitor to the world's largest internet social media job hunting site watch out. linkedin get a majority of its money from companies so companies can say users stay longer on facebook. stuart: facebook at work the name of the new operation killing linkedin. other big-name stocks. we watch every single day. amazon down 20% this year, down in another $11 at 524. netflix another big name tech down 20% this year down another buck this morning, 88. facebook ceo mark zuckerberg told employees he is aiming at 5 billion users by 2013 according to a report at usa today, big time bear jeff siegel still
hangs around, big-time bear on facebook. >> facebook, i was blown away by facebook at earnings, they did a great job opening up all these silos and potential revenue, it is a lot of carnage and technology, facebook has avoided a good part of it but they are not going to be able to hold too much longer because the market is going to bring some down with everybody else. stuart: scott shellady, anything to say on facebook? >> i have to use it for business purposes but at the end of the day i have two word for you. remember what happened to myspace? these things have a tendency to be replaced as technology move quickly but when you get that big is hard to move quickly. agree with jeff. stuart: at apple, talk about being began losing its luster, it lost a
fraction of its share of the smart phone subscriber market. it is a dominant player. do you like apple at 96? >> no. here is the problem. stuart: what a pleasure is to have siegel. cheryl: sounds like an irish mother. >> it is innovation. i listened to every good word tim cook has to say. i love apple, i followed it from the beginning and been in it for a while, they start to lose the smart phone market. if they don't create something to propel revenue going forward, they will be a, ties product. as i said a thousand times, apple rolls out new versions of old products, they need revenue. stuart: this is new. apple, you have an apple phone.
it is bust, you can trade it in for a new one. liz: this is how they keep their revenue. it means keeping the customer happy. and get a new one anywhere from $50 toward a new one or $250, is the first time, microsoft has been doing it, and here is the deal, this could cut it to ebay. lot of people still bust iphones on ebay. ashley: people sell bust iphones on ebay. and i call it a weak report, 150 one thousand jobs, best you can do, looks to me, i say it is another signal that the economy is sliding toward recession. let's go around the block. scott shellady, are we sliding down the road to recession as portrayed by the jobs report? >> the jobs report confirms that
as all the numbers leading up to have confirmed it. i have one big question for whoever's running this economy. how do we inch closer and closer to full implement, all the while gdp goes down and productivity goes down. we are losing great jobs, replacing them with bad jobs, more people working but not making anything, not making any money. no wage inflation. this whole idea about putting people back to work isn't working. stuart: we are sliding, heading south on this economy. liz: politics has a check on the economy, reality check bounced in d.c. seven years ago. doing things like the keystone pipeline. we are talking about nobody saw the housing collapse coming even at the federal reserve. ashley: is this a similar situation? liz: people are not forecasting a recession. it takes a year or longer afford the official body to call a
recession so that is the issue. ashley: listen to people in the transportation industry. there good they're supporting are at levels typical in a recession so that is a warning sign. >> you have to -- the global slowdown is reported, really going to begin to affect -- stuart: scott shellady laughing, the global slowdown is with us is it not? >> i am apoplectic. we have forgotten we raised interest rates and talking two three more. what are they looking at? our numbers are going from upper left to lower right. everything you really want to track is trending lower. how do you miss an expectation of 0.8% gdp. i couldn't believe we missed it. nothing is going well. we don't see any growth and the only thing that will stop the stock market from going down is true growth, not manufacturing
growth. stuart: how about tyson, the chicken company raise their profit forecasts. nicole: chicken, pork, beef up 8.5% hitting a new all-time -- looks like an all-time high, maybe a multi-year hide but i went all the way back 20 years or so. they came out with a profit, boosted their output, the ceo on the conference call talk about people at restaurants and in fact saying there is the 1% increase in food service traffic, at check sizes are going up by 2% so that is good news and also good news on cattle going forward which will translate into better margins for the company. ashley: thank you very much. tyson up in an otherwise down, not so far down day, dow is 55, president obama proposes $10 a barrel tax for clean green transportation projects. with that raise gas prices?
ashley: ultimately we will pay for that, $10 per barrel on every barrel of imported oil, not exported, unclear whether the oil we produce in this country will receive this $10 a barrel tax as well. oil companies according to mr. obama will pay the tax but it will trickle down to us no doubt about it. comes at a time when it is crushed by low prices, it will never get through congress, and he will play -- pay for green alternatives, get us off the dependence on oil. stuart: i want to go back to the collapsed cream in lower manhattan. we brought this story earlier, a local resident joining us on the phone. described, what did you hear, what did you see? >> i didn't see anything at first. i heard out loud noise that shook me out of bed. i ran to my balcony of my building and looked off of my
tears and all i could make out was snowfall, the snow fall cleared and then i could see this huge crane i was looking at the other day completed over into the street, looked like it was over four city blocks. stuart: our viewers are looking at that green as we speak and is gigantic. we have pictures of crushed cars. >> i'm looking at several cars. is definitely going over the entire block, sitting on four cars on the north side of the street. i live on a 38th floor, pretty and real. stuart: can you get out of your house? >> i could get out of my house, there is no point leaving the views. stuart: thank you for being an eyewitness or audio witness to it. pictures make us understand why
it was a great crash, absolute tragedy in lower manhattan. the owner of the crane, the area where the cream was working says it dropped off the 20th story. ashley: working as high as 20 stores, is uncertain how high the crane was but certainly at a huge structure coming down. stuart: jeb bush making it a family affair in new hampshire. the bushes to the rescue, more after this.
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stuart: you are looking at a mess in lower manhattan, a crane collapsed, one of our viewers said he heard a gigantic crash as this cream came down crushing cars beneath it. anything leak? ashley: a water main break, there are concerns of a gas leak, hopefully that is not the case, one dead, two in the hospital with more to follow, 100 firefighters and emergency crews and of trying to sort through the mess on the wreckage. stuart: big chunk of the financial district cordoned off, can't get in. thanks very much, we are following it of course. she is with the -- let's see. i want to check the big board, we are down 56 points for the dow jones industrial average. let's get to new hampshire, the campaign. jeb bush bringing up reinforcements, his family, that would be the reinforcements.
barbara bush made an appearance in support for sun's white house bid. george w. bush appeared in ads. why is jeb following on his famous family? here is the glue. >> i think the next president needs to be a lot quieter, would send a signal that we are prepared to act in national security interests of this country. pleases. stuart: that did not go down well. former senator norm coleman is a jeb supporter. this is make or break for a jeb. he checked everything into the pot. he has got to do well now or what? he is out? >> he has got to do well. people are angry as they should be, 75% of americans think the country is moving in the wrong direction living paycheck to
paycheck worried about isis, vladimir putin. and hungry for leadership, someone with a record of leadership, jeb has got fat. this is his moment. you will produce that. stuart: is the projected. that scene where he asked for applause he just looks bad and it doesn't look like that dynamic -- >> i have been to a lot of them, is something that should move people, can you applaud, that is a touching moment. jeb has been humility but also the ability to lead and in these dangerous times, frightening times that is what people looking for. she read a lot more to that clip than those who are sitting or those who had that moment. stuart: if he has the qualities you say he has got why is he only pulling in 4% or 5% of the vote? >> let's see what happens tuesday. we started this cycle with a lot of rifle a anger out there.
i always said if you want somebody to reflect your a anger vote for donald trump but if you want someone to solve the problems that are causing you to be a angry weather is the economy or national security jeb bush is the guy with the record. we need president hurricane. he presided over tweet perkins, four tropical storms with compassion, strong leadership, that is what america is looking for, see what happens tuesday. and 6% of total delegates, and people are reflective and leadership demonstrated, that is jeb bush. stuart: if he doesn't come in the first three do you think he should get out? >> it doesn't come in the first three that won't be a good night. say it up front, he needs to be
up there, no question but he should be. stuart: thanks for joining us. it is a very important moment. thanks for being here. breaking news you are about to look at the mess that is lower manhattan this morning, the financial district, a crane has collapsed, what a mess. cars crushed, enormous disruption, lower manhattan. more updates coming up for you. you both have a
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stuart: a crane collapsed in lower manhattan, gigantic green crushing cars, one did, many injuries this morning. ashley: pedestrians on the street going about their day to work. we understand as a crane collapsed it bounced off some buildings which now those buildings will have to be checked to insure they are structurally safe. that will slow down the ability to clean this area of hand they have to figure out how on earth this crane collapsed. stuart: look to the future. what is the future for these gigantic cranes on the top of skyscrapers in manhattan? they are everywhere. liz: subways testing stops in this area. that means people who live in that area will have trouble. stuart: this is a very big deal,
happened in 90 minutes ago. the aftermath is considerable. the financial district is cordoned off. more coming up. let's go to linkedin. you rarely see a big name tech stock lose as much as this, down $78, about 41%. facebook coming on strong with competition in the future and that is destroying linkedin stock this morning. you may think if you are doing sports is all about the super bowl. we are different here. it is the phoenix open, and i am going to be watching. this is golf the way it should be in the future. i know you thought it would be super bowl but i will spring this on you. this is an extraordinary tournament, crowds, it is like a football game. >> i was there last year. i got to see the happy gilmore
attitude and everything going on. stuart: is so different. the golf -- stuart: look at that. on screen is like a grand stand around the green. it is like a football stadium. at it is very well received. >> probably the night before comment and 80s party. it was michael jackson, cindy lopper. they get down over is there. stuart: i wanted to surprise you about the phoenix open. you have already been. the superbowl. what have you got? >> everyone's heart says denver but i have carolina. stuart: why? >> they are a team that ways and on. they have a good defense. cam newton.
i think denver will have problems trying to stop that offense. stuart: why is your heart in denver? >> manning. that is really. stuart: you are speechless almost. >> for patent i would love him to win, a great guy. i have known him for a long time and the rest of america feels the same way, 80% of it. i would think carolina is a powerful team and great offense with a great quarterback. stuart: i am going to surprise everybody, bring in the under over line. if i was a gambling man i would play the under over line which is now 45 and i would tell you right up front i would pay the thunder on the grounds that both teams have good defense, it would be a relatively low scoring game. >> making calls like that.
stuart: i you with me on this. i played the under. you would do it? >> if i was a betting man i would play the under. two good defenses and is kind of like giants/new england when they won in 2007, defense derails tom brady because they said mike tyson, quote, when you punch someone in the mouth or in the face they are going to fall. stuart: you think it is a defensive game, what about the point spread, panthers 5-1/2 points? >> if -- they score on the points. they score on everybody. they have gotten big leave and all of a sudden the other team comes in like seattle, another quarter, who knows? they might have won that game because they ran out of time. stuart: do you like would play and beyonce? >> why not?
lady gaga is doing -- it is a good mix. stuart: what do you think of lady gaga doing the national anthem? what is she going to where? >> being rude, has the -- stuart: glad you are with me on the under over line. thank you very much. former nfl safety john. has been named finalists for the hall of fame. he will be joining us later on this program. another look at the collapsed crane in lower manhattan, obviously we will be updating this story which is expanding in terms of importance, that rain may have damaged buildings surrounding it on the way down raising a question about their structural integrity and the long-term future of big screens in manhattan. big story. hour two coming up. on the floor! everybody down! nobody move! on the floor!
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collapsed in lower manhattan, happened an hour and a half ago, one dead, 15 injured, the real story after the tragic event is that the cream hit other buildings on the way down, so now they have to check out those buildings are they structurally sound? ashley: a utility companies responding to reports of order of gas leak. stuart: liz reported subway stops are going past that stopped. the thing about structural integrity of the buildings is very important because if you damage a huge building what do you do? ashley: look at the shot coming in, part of it is resting against a building a strong enough to burst a water main, tremendous force. liz: real serious issue for development, manhattan and the tristate area, look and see cranes on buildings all over the place in manhattan. stuart: sarah holland back is on
of phone. you heard the collapse, described it. >> reporter: i was walking on west broadway and right after i crossed i turned around and i saw the crane come out. it looks like it was intentionally brought down slowly and then sped up and the entire thing crashed. stuart: you actually saw the crane come down. that is very interesting. >> very scary is what it is. stuart: i presume there was an enormous crash. >> there was an enormous crash. everybody started -- people turning around taking pictures at that moment, many of us realize we just walked under that. stuart: how much did you miss the falling crane? >> i don't know if it was already falling when i was walking under but i don't know.
10 to thirty-second, whatever it takes to walk that walk. stuart: you should play the lottery. >> i feel very alive. stuart: are you still in the neighborhood, in the area of the collapse? >> i just left, had breakfast, you could see the subways i shutdown, a lot of them -- stuart: we have viewers all across the country. am i right in saying where the train came down is pretty much in the financial district and the financial district is disrupted? >> actually is just north, residential neighborhood, a lot of preschools, that was my first concern. if it fell be the direction it would have fallen off free school. it is all residential, just north of the financial district. is of very residential neighborhood, lots of children going to school. that was my first thought. stuart: when you saw it come down and there was the great
crash was there an element of panic among the people around you as they saw it come down? >> i panicked. i saw some panic but i think people were just not sure what was happening but then obviously right after that you start to see people running around, stopping in their tracks, you don't know what to do with a crane crashes down next to you. stuart: we appreciate you being with us, you saw it happen, we like that, thank you, good stuff. we will be back to this story as developments occur, you are looking at it right now. check the big board, there was a ho hum jobs report 151,000 new jobs created not a big impact on the stock market, price of oil still a factor, oil is down 30 one dollars a barrel, oil down, stocks down. let's get to hillary's latest on hillary's e-mails.
report from the state department says colin powell and top staffers for condoleezza rice also received classified information through their personal e-mail account. congressman chris stewart is with us on the house intelligence committee. essentially democrats are going to say and they are saying everybody did it. what is the big deal about hillary? and you say? >> this is an example, the state department doing what they've been doing for a while which is trying to protect secretary clinton. i don't want to make this a partisan issue. it is about national security. what the secretary is saying is not true when she says these e-mails have been classified, i have read them. i read every one of the. they contain the most classified information i have ever seen in my experience as an air force pilot and sitting on the intel committee and when she calls for their release it is a slate of hand. we could not release the e-mails, she knows we couldn't release these e-mails, is political cover. stuart: if anybody read these
e-mails as you have could there be any mistake that was not classified or not important? >> absolutely not. there is no question about it and i would challenge anyone especially anonymous sources who say these aren't classified, i challenge them to sit down with me and reviewed these. oh my heavens. i am not exaggerating when i say as my 14 years of experience at years experience on intel committee this is the most highly classified stuff i have never been exposed to. it truly does reveal our sources, our methods and in some cases our human assets. how could anyone look at that and say this is a case of overclassification key is simply not true. stuart: if somebody, a hacker got their hands on the e-mails you have read, that would damage our security? would it put lives at risk? >> there is a reason of eye and not republicans, the obama administration classified these as top secret and the definition
of top-secret is they could potentially expose by exposing the information it would be potentially grave damage to u.s. security. this isn't -- to your point exactly, if someone read this, if these were exposing the difference between colin powell, that was on a government server, secretary clinton's case it was on a server is that was sitting in her basement, privately held server that was not secure. that is a difference that needs to be acknowledged. stuart: we appreciate you being with us to elucidate a very important subject. i want to get to the january jobs report, came out at 8:40 eastern time, 150,000 new jobs created. some more details. liz: we are seeing basically this was the jobs report where the survey was done before the blizzard. the job growth was cut in half. from december, nearly cut in half at 292 k for december.
what the question is, is this a signal that there is a slowdown in the u.s. economy? when you look at manufacturing slowing down and service slowing down now economists on wall street are saying the two sectors are linked, you can have strong service economy without a strong manufacturing economy. that is why regulatory policy has linked them both. stuart: thank you very much. let's bring in austan goolsbee, former economic adviser to president obama. welcome back to the show. let's not fight about past policy. let's take a look at the future. what do you say about the trend in this economy? i said we are slowing down. maybe and i mean maybe going towards recession and you say what? >> i don't disagree with that on either count. we have been slowing. when i have been on your show before i have been saying i was worried about the fed moving too quickly because the rest of the
world's borderline meltdown was going to have implications for the u.s. we were likely to slow down. you can't rule out the possibility that we go even into recession if they had a really hard landing in china and europe deteriorated. i am not that surprised you would see this number slow down. stuart: what is the answer here? i want to characterize the democrats as saying raise taxes and spend a lot of money. >> you always want to characterize it as that. i don't think that is fair. stuart: okay. i am going to say -- on the left there is intense desire to raise government spending, have the government get us out of the slow down and raise taxes to pay for it. i think that is an accurate characterization of the left. the right, tax cuts on individual and corporate basis to stimulate the private sector economy. i think -- >> can't pay for it.
stuart: i think the right has a better solution than the left, take me on. >> did it work when george bush did it? stuart: that is a rhetorical question. >> that is a real question. did it work when george bush did it? stuart: an all-time high, regulation is intense. >> that is not true at all. stuart: revenue from taxation is at an all-time high. we are taxed significantly. if we took that tax money, take it away from the government and give it to private enterprise, the private sector i say that is a better solution to this impending recession than taking more tax money and spending more government money. why am i so wrong on this? >> it is not that in spirit you are wrong, it is that you are mischaracterizing the positions of both sides of the policy sphere. first, democrats are not for let's just raise all taxes and spend money on nothing that is
important for growth and the republicans have not proposed anything like the judicious pro-growth policies you are describing. if you look at the republican presidential candidates tax plan, they are literally 5 and even $10 trillion of increased to the deficit going to high income tax cuts to very -- people with the very highest income levels which we saw in the 2,000s did not stimulate growth. stuart: i don't think i am. i think tax cuts would stimulate the economy and give us more growth than tax increases and more government spending. >> i know you do think that. i would point you to the historical evidence that -- we cut high income people's taxes -- stuart: point towards ronald reagan. cut taxes across the board and
stimulate the economy for a terrific rate of growth. >> it was the second-best in u.s. economic history. followed -- following the first best which was under clinton when they raise high-income taxes. stuart: the economy took off when newt gingrich controlled spending in congress. >> you know the we are friends and i am normally a fan that you are going to attribute the boom of the 90s to newt gingrich. >> not entirely. the internet had a role to play, capital gains from the internet bubble, all that had a role to play. >> george bush comes in, we have a popped bubble, and his rationale for high income tax cuts, that is how we will lead the economy to grow, get rid of regulations and cut taxes. it doesn't happen. we don't grow and it is followed
by massive -- >> obama capt. those tax cuts. >> we grew slower than we have grown now. stuart: austan goolsbee wants to raise taxes on the rich to invest in growth and keep regulating those wicked capitalists because they are just bad guys all over and that will give us growth. you know is not true. you know is not true, don't you? >> i don't advocate that and what i want you to do is start looking around the world and you and i plot how to protect this country. from the collapse of china and europe. stuart: i tell you what we do. we unleash the great engine of american capitalism and we beat the world into a real recovery with real growth. twenty-second, that is all i got. >> i am for you and let's do that. let's just make sure we get some
human capital and education while we do. stuart: cut my taxes because i owe 60% and i don't like that. thank you for joining us. i must bring you back to that fatal crane collapsed in lower manhattan. ashley: new york post reporting interesting facts according to them. they say the person killed was a man standing on the street when the crane fell on him. another person in critical condition. it was according to the post the crane was swinging and toppled over at 8:24 this morning when the call came in and this is the result, smashing cars that were parked on the streets and this company was involved in the collapse in midtown last year that injured ten people. stuart: looking at cranes working in manhattan from here on out. you got the story and we will bring it to you, more in a moment.
stuart: there was a great deal of reaction to a weak jobs report early this morning, look at this, higher profits, higher sales, semantic, they make security software, they are up 6%, the crane collapsed, we have a news conference. stuart: new york mayor bill deblasio is on the scene and hopefully will get more information on him. stuart: i want him to deliver the latest factual information on what exactly happened two hours ago. during pharmaceuticals chief martin shkreli for the fifth on capitol hill yesterday, showed contempt for the entire proceedings, that was the congressional hearing. listen to what he said on youtube. >> the reality is it is pathetic they need me to get publicity
for themselves, it is transparent, pathetic, they could have had a closed chamber meeting with me, they could have given me infinity, they didn't want that. last thing they want me to do is testify because they would have been embarrassed. stuart: he told the congressional panel in the seals in the tweet right after words. judge alex for rare is with us, very sorry. you are a judge. this guy is the poster boy for bad guys in pharmaceuticals. and he is seeing, they wanted me to testify, they don't want me to answer questions they just want to go at me. >> i'm not a fan of any congressional hearings, their pompous and very rarely lead to anything good. trey gowdy is good.
a few asked good questions but most couldn't cross-examine a 4-year-old. stuart: you don't like either side. >> his lawyer has a pr problem, like saying isis has a pr problem. he has this huge indictment for securities fraud, wire fud, nspicy, lot yea in pron, osendicentsre not picay brght the feral vernnt uess ey ha gotou a theusuay do ha youecau theare per ses,t isll dumend so you n't ve cdibity o tness asuch. stua: thsepate iue o s algedllootg hiown mpanon wch hhas en chard wi fra is para fromis appearance on drug prices. >>omplety relad buthey waed h thereor tt. strt: is ying havbeen inctedn a fraud charge about my own company because i have an unpopular image with drug prices. he has a point.
2014 and that was before this about the aids drug that went from $13 a pill to 751 t bought it. it may not have been because of that. did not take the spotlight off of him and the realities in these cases, wire fraud cases, their defense very issue will be is i had no knowledge or intent to defraud and that turns on the credibility of the individual as well as his character and i can't think of anyone with a more rodent like characters than this guy. every time he does something like taking the fifth, they could have granted me in unity, like heck they are going to grant him immunity. when he does something like this the only hurt his chances and then goes on and call them in the seals and goes on twitter. sunday at judge will decide what the appropriate sentence for him is. stuart: we have not gotten to
the truth about what is raising drug prices, not even close to it. >> i don't think a congressional hearing will lead us there. stuart: judge andrew napolitano said the same thing. >> judge andrew napolitano and i agree sometimes. stuart: judge for rare, thank you for joining us. thank you for joining us. >> is my pleasure, mr. bernie. stuart: ben crane,'s in lower manhattan. on the phone, spokesman for con edison, what do you have for us? >> thanks for taking my call. what we are doing is the utility for new york city, we handle electric gas and steam and we are responding to this crane collapsed in lower manhattan, and what we have just -- stuart: we have reports of people smelling gas. >> that is correct. we started getting reports of
gas odors and what we're doing now is reported to the scene and we are excavating low pressure gas main near west broadway and worth street and excavate and isolate this low pressure gas main so we could stop the leak from happening. stuart: you cordoned the area off, don't let people in and out near a gas leak, i take it that is the case. >> we have to locate where the damage has occurred and in a case like this what will happen is the force of the screen collapse was so great, it could disrupt a lot of that infrastructure in the ground and that is a lot of infrastructure in the ground. in terms of what we provide is it could disrupt steam, electricity, and gas. stuart: we appreciate you
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>> serious incident lower manhattan this morning in a gigantic crane with an indication of how big this thing was by that picture. the whole block dropped into the street. build up last year will be holding a news conference shortly. information on what happened. he will listen in. we will hear the mayor. better bring your attention to the big or good the dow jones average is up 150 points. this is not the price of oil. this is the very weak jobs report and the weakening economy. that is what doing that. about $31 a barrel. that is not the problem today. higher profits of estée lauder
cos medic's got their output but the stock is up a couple bucks and 89. to the latest polls, please. sanders stands at 61% in new hampshire. clinton 30%. >> i think it is time to and very artful smear that you and your campaign have been carrying out in recent weeks. let's talk about the issues that divide us. >> that is important. let's talk about the issues. one issue they did not mention is the weakening economy of what those you about it. what did they say? i am saying where are the answers? i didn't get them last night. >> stuart, do we agree on something? i said yesterday on my talk show
that as democrat, and both the senator sanders and secretary clinton are missing the point but the argument about some things because when we look at poll after poll, voters still as they have for years care about the economy. they need to talk about the economy and how they are going to strengthen the economy, reduce the deficit, create jobs and other issues like national security which we do not see in these debates. stuart: here is where we will have the fight. both front-runners say raise taxes on the rich and both of them they whether it's on free health care or subsidized education. both of them are taxed more, spend more. we are going to fight if you'll tell me that producers grew from the economy. >> we have seen it produce growth in the economy.
they were very robust economy, and it ensured act you would a lucky not entire taxation and spending and we don't see that with hillary clinton. hillary clinton doesn't capitalism here she realizes it's necessary for a robust economy. stuart: she still stands for tax increases. do you think we are going to give 4% growth in this economy by raising taxes, anybody's taxes? 3% growth by raising taxes and spending more government money? can you make the economic argument that we will get 3% growth that we need more taxes and regulation and spending. are you ing to make that argument? >> stuart, i can make the argument that what we've been doing in the years with the tax
breaks for the upper 1% and 2%. new-paragraph in the booming manufacturing the shed. we still see jobs go overseas and not coming back. if they have that, it might've been a different story. we have to try a different way. >> i have to point out for the past seven years we've had intense regulation with government spending and higher taxes on the rich producing a modern rate of growth. the worst recovery since world war ii. we have had seven years of tax and then. there is no reason to believe that another four years will do any better. i'm almost out of time. 30 seconds. >> that is low. of course we would all like it to be lower.
the child support, growth report is not what we would like to see. we have had steady growth as you know so i think we need to stay the course. stuart: that is very interesting. steady growth as i know. no i don't. fourth quarter of last year growth was .7 and hit batting steady growth in the past 10 seconds, go ahead. >> i'm talking about growth with regard to the jobs report specifically, stuart and the growth of the jobs and reduction of unemployment. the economy is better today than it was years ago and even though most americans may not know that camino on paper that is the truth. we need americans to feel that going forward and definitely voters will express that in november. stuart: we do hear you, leslie. we hope you come back and argue with mr. moore. >> i love it. stuart: thank you for being with us. got to get back to the train collapse. more details. >> employee of the new york rank of been involved in this says an
investigation is underway. wouldn't give any other details. we note that this company was involved in another incident that injured 10 people last year here in. we are awaiting us is set for may or bill deblasio to see if we get any more information from him. stuart: was sent that to me other than the drama of the giant crane collapse them into the street is the fact that it reportedly had other buildings on the way down. damaging maybe the structural integrity, damaging skyscrapers. that is a big deal. if that is the case, what you do because men had been sprinkled with them. >> if you know new york city, that is huge. >> that picture tells a big story right here. i do not how big the crane was. >> one person said 15 and 18 stories high. >> we are waiting for mayor
stuck to a press conference. we will take you there if he delivers factual information about precisely what happened. we are on it, listening to it and you will, too. check the price of oil because we are down about dirty $1 a barrel. not down. we are at dirty 180. president obama proposing a $10 per barrel tax on oil to pay for clean transportation projects. jeff flock is with us. >> the president clearly heard you when you complained about the fact that low oil prices are dragging down the economy. it's a 10-dollar tax on oil. it's a great idea. dad arrived on the republican congress. but it does move the debate. why would they propose such a thing? clearly it will be passed along to consumers. the detroit institute said yesterday make no mistake.
this is an energy consumer attacks disguised as an oil company fee. it would only be about 25-cent a gallon. what better time to raise. >> by the way come on the price of oil goes up will still have the extra 29 cents per gallon. whose side are you on? the capitalist or socialist? >> willison comments you want to be inside the gates are out side but the flames. i would like to be a type. stuart: my days on up or gone a long time ago. thanks very much. next week marks the 52nd anniversary of the beatles. first u.s. tv appearance.
an auction house is auctioning off a guitar owned by ringo starr, played by john lennon. >> first of all, let's put on camera to ringo qatar played by john lennon. is that the one in the middle there? how much do you think you'll get? >> this is a $50,000 to $60,000 qatar. had this been john lennon at what it wrought much more. he was identified. >> it was attached to the beatles. the next when you've got is van halen. eddie van halen had unique design guitars did this when he appeared on television playing.
years later they may have mass-produced commercial versions of these, but this was his. >> how much is that going for? >> 60,080,000. stuart: you are telling me that a guitar associated with the great john lennon with the greatest rock band in the history of the world, that is worth less than a guitar by a guy called what? eddie van halen. >> yes. a couple months ago a john lennon guitar broke to point something million dollars. stuart: what are you playing? what song is it? >> panama. >> you know i am right. >> in this option, does cold love in the film their murderer, the principal character is shown
playing the guitar. not only do we have the guitar from the movie, but we had the guitar from the real-life carrie smith, the real murderer. stuart: february 27th. we've got it. thanks very much. back in a moment with more "varney & company." in new york state, we believe tomorrow starts today. all across the state the economy is growing,
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>> the downside down 96 right now. the dow jones industrial average up to the job growth number at 151,000 jobs last month. the s&p 500 down 15. linked in, all those traders talking about this one. i'm almost 40% tracking on the rest of social media. facebook as well. also at a new low. that was weaker than it acted. energies docs under pressure. oil has returned. let's take a look at energy names. under some pressure today down 12% after coming out with weak sales. "fbn:am" we will see you then.
that could be the developing story here. what are we going to do with these giant cranes? we will bring you more when we thought it. some school officials putting up signs this week alerting that staff members could be carrying guns. with me now, republican from oklahoma, congressman steve russell. i'm a big supporter of the second amendment. i am all for the right to bear arms but i've got to tell you commissary. i'm a little troubled the idea of guns in the hands of teachers and schools. you don't share my concern? >> actually, it is good that we finally recognized that we are our own first line of defense when it comes to protecting our lives and protecting our children and families. the school officials can take responsibility by having good proper training. many of the teachers might have had military service or they might serve as reserve officers them on first minute.
there's a number of smart ways to approach it. stuart: mayor bill deblasio talking about crane collapse. >> we have one fatality. the individual happened to be sitting in a parked car, not associated with the work being done with the crane. we have three individuals with injuries. too serious, one minor, nonlife threatening as far as we know. none of the workers working on the site were injured in the process. this type of crane is called a crawler crane. it was being moved into a secure position because by the manufacturers instructions as winds topped 20 miles an hour, this particular company, the
instructions were that the crane should be put in a secure position as the winds were approaching 25 miles per hour. that is lower than the typical standard for crane, but for this company that was their standard. in fact committed in the process of securing the crane. they got to the work site at 7:00, recognized the winter in the 20 miles an hour plus range and were perceived to secure the crane, to bring it down to a safe and secure position when this incident occurred. the department of buildings personnel had been on the site yesterday to approve the next steps in the work on that building. they inspected the crane yesterday morning at 6:20 a.m. and reviewed the work being done and had her day. again this morning no work was done on this site because the crew made the decision immediately to bring the crane down into the secure position and this occurred literally as they were lowering the crane to
secure it. we have now some updates on what is being done to secure the area and deal with the aftermath obviously. first and foremost the human effect, our hearts go out to the families of the individual who has been lost in two of those who have been injured. we are concerned for who live are there to make sure they will be saved. the immediate concern is that you have as a result of this in the event. fdny and comment has been sweeping the related buildings. >> viewers are watching mayor bill to blasi of new york city. what he said at the start is the important part of this. the crane was being moved by the time that it toppled into the street. it was being moved because when fed a 20 miles an hour and the company that operates the crane believed and i'll that was
dangerous so is being moved into a secure position. as it was being moved, it toppled. that is what happened. it fell into the street. it's a gigantic crane. we have pictures showing almost an entire block in the mayoress explaining precisely what happened. >> it looks like they feed on this crane look like a tank moving along and obviously the wind are enough to topple it over. as he said, big enough to fill an entire city by crushing a number cars, killing one person. >> one dead, three injured. two serious injury. nyu has evacuated the law school. they will likely suspend all crane activity. that is usually what happens. stuart: that is very important. to suspend crane activity in manhattan when manhattan is littered with decisive crane fell over the place. they are now being suspended here in
>> likely he will announce it. likely be suspended. it's a very big deal in manhattan. it is close to the financial district. it's a residential district. as you heard from the mayor briefly there, someone who had nothing to do with the crane or the affirmation was killed at the crane came crashing down. it's a tragic event in the impact is very significant. to go to the mayor, we have to leave stranded. our congressman, steve russell who was still with us. oklahoma republican. i went to the fonts in the issue of guns in schools. you are john kerry, secretary of state, you want him to explain why $1.7 billion payment was made to iran. tell our audience what this is all about, please. >> the iran financed terrorist act -- terror financier act passed out of the house with a bipartisan majority, a sizable
vote that has dissented. the president has threatened to veto it because he says it could endanger the iranian agreement. simply put, what it does is this. on the joint agreement, there were hundreds of people that would have sanctions lifted. they were members on their cover of terrorist related human rights abated. the president has stated no one would be lifted off of that. we are asking for justification on why 50 people have been lifted off. stuart: all you are asking for justification. explain, please. >> absolutely. you have some very bad actors on there. because spores, revolutionary guard corps. they could build department stores in your neighborhood and they've got sanctions relief. we want to know why. stuart: you want to know why, but you can't stop it, can you? >> we can't top what happened a couple weeks ago. we tried. i've been working on this bill says last summer.
what we can do is hold to account those that should not or were in an urgently placed on sanctions relief. that is what will he working on. >> we are still not with you on guns in schools. i live in new york city and i'm not sure i want to see guns in our schools in new york city but i think we've got a difference of opinion. stuart: steve russell, appreciate you being with us. check out the big ward. we are down quite big. the loss of 1% at 153 points. why are they down? because it was a weak jobs report implying a weakening economy. liz: just back to the crane situation, bill deblasio saying all cranes are forced to be put in a secure position so they are moving to secure all the skyscraper claims in new york city. stuart: big deal. thank you are a match. super bowl place i believe. cheryl casone is there.
what if you got? reporter: good morning to you. we are in the middle of what is called radio row at the nfl experience all about the journalist and celebrities and bars. speaking to stars, advertisers pay $5 million a pop to get their commercials out there. and just for you, i have got it a peek at the commercial you will see going in to halftime. roll the tape, sir. ♪ reporter: so that commercial is part of the theme will see for the halftime show. coldplay are down on the ground in the bay area. doug dionne say, bruno mrsa the place is pretty fabulous going back to bed.
also, user generated commercials. my commercial didn't make it. one of the spots competing to be the breakout of folks commercial on the super bowl. roll the tape. ♪ >> once again, all about the commercials on the money. 118 million viewers last year. we will see what this rings to the super bowl. olap are coming up throughout the day. >> we will be back. there is more "varney & company" coming your way in just a moment.
stuart: mayor bill deblasio saying all cranes will be put into a secure position. that is what we will be doing with this crane when it toppled over. the arm of this thing came down covering one person killed two others seriously injured. >> it came down to a half hours ago. tell us how this went down. what happened? >> actually, as i came to work today, just wondering how safe it is. person a car in front of the building, had a strange feeling about the crane itself, should i park in front of the building. i don't know why i did, but i did give much in my office, sat at my desk and a half hour or so heard a loud rumble. and as soon as it happened, i realized it's probably what happened at the crane came down. me and two of my coworkers ran
outside. a major study to assess the situation and get a look around. found a person stuck in the car. found a lady standing on the streets. she was hit with some shrapnel. we found a gentleman laying in the street unconscious. stuart: can you explain -- i don't think you can, but can you explain how you had a strange feeling before the crane came down as you are very close to it? how did that happen? >> i don't know. it's a strange thing i guess. it just seems so tall. i thought of backing down it would be a problem. when it came down it did cover a block and a half. stuart: mayor deblasio said it was a crawler type grade being moved to avoid the 24 hour wins present at that time. as it was being moved, that was the point at which it toppled. maybe you heard some of the
rumbling as it was being moved. it sounded like an earthquake when it dropped. >> the rumbling was coming down. it was literally about a lock and a half from my office. the base of the crane. when it came down, it was a vote rumble that got louder and louder. thank you indeed for an excellent almost eyewitness account of what happened. dispatch use implications for cranes in manhattan. as you just heard from the mayor. >> they're put in a secure position. >> i should tell you they are cranes everywhere. this has had a huge impact. moving onto politics of course. senator brand paul, the libertarian candidate out of the race for the presidency. that begs the question, who will libertarian so forgive all of the republican candidates.
former texas congressman ron paul joins us now. i'm not asking you to speculate. i wouldn't do that.but who is tn of all the other candidates? republican candidates because i don't think hillary or bernie -- they are not libertarians. >> well, strange as it may seem, on occasion bernie comes up with libertarian views when he talks about taking away the cronyism on wall street. occasionally he voted against bush's hard to find anybody said rand paul is adamant that anyone would take a hard-core libertarian position on privacy in on the war issue and on economic policy. i would say you can search for it not time that you're not going to find anybody republican or democratic primary that comes slightly closed to ever be able
to claim himself a libertarian. stuart: like a free market guide is they are a candidate who do would say is a free-market person? >> i haven't found them because they are set exceptions. you take a guy like trump, a businessman for the free market of course that he's for tariffs on all these other things. that would be sorted out, you take a guy like ted cruz, they think is for the free-market and he's owned by goldman sachs. he and hillary have more in common than we would have in common with either ted cruz or trump or any other name. i just don't think -- they will have to go elsewhere and unfortunately we don't have much democracy in this country because the republicans and democrats dominate. you have to be an interventionist.
you have to be an economic planner. you have to do all these things in order to get to the top spot because that's what they established. otherwise you can't finance all this debt that the democrats and republicans run out. stuart: a real fast question about hampshire. the license plate is live free or die. i personally love the license plate. if that is the case, have you asked wayne bernie sanders? the man is a socialist and he is way out in front to new hampshire. how do you explain that? >> propaganda's are very efficient. the politicians are very good at it. a lot of people comment here and i commented when i campaigned with a wonderful slogan for new hampshire. there is a disconnect between what people pretend they are and what they say they are and they are controlled by the money and that is why so important to find out where the money is coming
from. stuart: new hampshire, live free or die. crazy stuff. ron paul, always a pleasure to have you on the show. appreciate it. >> thank you very much. stuart: i want to bring you john stossel. his show is called the free or die. tell me how this works. a socialist leads the pack among democrats in new hampshire. >> it is a 100 euros logan and they no longer believe that. they support obamacare, want to increase the minimum wage, went to increase background checks to buy a gun. this is not a libertarian conservative city. stuart: i don't think they've got a state sales tax either. >> adults can drive and they don't have to wear a seatbelt and you don't have to wear motorcycle helmet. it is bernie sanders. stuart: it is a lot of people
who go into southern new hampshire and say, you know, i like this live free or die stuff, but i really, really like no taxes. >> but there's this free state project were libertarian civic get 20,000 people to agree to move there. we can change the politics in a just regard. stuart: they wanted, don't they? >> these are libertarians. they want to move there and have enough of us to say let's get rid of these rules and we will show the rest of the country in the world how good government can work. stuart: are you moving? >> well, it's cold. stuart: you have a special that airs on fox news this weekend. it is called the tech revolution 8:00 p.m. sunday at the fox news channel. i'll give you 20 seconds. >> i get to drive a robot car
could look mom, no hands. we like it had youtube has changed music and entertainment. but how ted cruz use new technologies to win iowa. he's way ahead of the republicans coming to doing what obama did last time. it's the tech revolution. stuart: a relevant. you are going to win. thank you very much indeed. check the big board. we are falling further. the dow was down 190-point. i am going to get down to real weakness in the economy. i displayed in the jobs report this morning the price of oil is not a factor at the moment. it is only down 3 cents or so you can't blame the stock selloff on the price of oil. i blame it on a weakening economy. there's another story and that is a $10 per barrel tax that president obama wants to stick on oil prices. he wants to pay for other clean transportation investments the
president would like to see. ten dollars a barrel on all of oil imported, not exported. the question is does it get put on the oil? the president says oil companies will pay the fee. you know who would really pay for it? we are. stuart: gas is going to go what. jo ling kent is with us. we are looking at linkedin. i think it has fallen out of bed because facebook is coming up with a big-time competitor to linkedin down the road. i think that is why it's down in no disagree with me. >> i will disagree because the real serious reason, the output, the prediction for how much they will make right now is down significantly and that's why you see the stock having its worst day ever. people collectively have lost $10 billion of value in this
company because of this weak outlook and basically do see they predicted a 55-cent profit and they are only going to get 55 cents. that is really bad. stuart: nothing to do with facebook at work? >> maybe in terms of the long-term outlook, the facebook hasn't launched the product yet and it's not yet publicized. there is a concern about the health of the company. what you see the cfo and you're doing,, they are streamlining product and they are blaming the international environment for this current drop. they say the current global economic situation is not good. stuart: bottom line is down 40%. thank you very much. appreciate it. the u.s. may be entering a recession. angela sloan is here. if the collective view is that we really are slowing down and the recession is indeed a
possibility, why would i put my money into the stock market at this time? >> stuart, i think if you are selected there are some bright spots out there. one bright spot in my opinion is tuesday. disney is down 8% year-to-date. it is down 15% for the latest three months. it's probably a very good price and there's three reasons when i think disney is a bright spot. "star wars" or $700 million in sales to disable milkfat for years to come. and they've got the theme park in shanghai, china were 12 million visitors have visited the part. webpage there is finished they expected to go to 40 million visitors. the third one is the marvelous cinematic of the highest franchise of all time. disney owns it. they had 112 million in revenue this year. yesterday disney closed at 95. i expect it to go from 112-2115 by the end of the year.
stuart: good but because it down today. apple, you say you like it. make your case real fast. >> is that a good price right now. they are looking at software for android and millions of retailers. also expected to become the largest public company by market capitalization. stuart: google is the most viable company in the world. >> it is right now. >> they are expected to do that. it will be interesting to see what happens. it's a very good price right now. stuart: disney apple. angela sloan, thank you. >> thank you, stuart. good to be here. a black wives matter activists. question, is that what baltimore really needs? following the breaking story out of manhattan. crane collapse, one dead.
stuart: lions gate is a movie producer don at the providence tales -- it is revisiting a merger talks. down nearly 30%. that's a big draw. hanes brands, the underwear people at issue in a week sale for this current year are down 12%. we are talking percentages here. the newest mayoral candidates in baltimore is an activist known for his work with buckley's matter. david clark is here. good to see you. what do you make of this? a black wives matter activists on the frontlines in baltimore and ferguson running for mayor. your comments. >> let me see if i can do this. stuart, when stuart, wended activism becomes a legitimate career in the united states? the more legitimate than some of the inning on a corner begging
for money. i would like to know who is sending checks to see without agitating communities. here's the thing. if he is a professional at anything, he is a professional troublemaker. he has claims of racial discourse and poisons the well everywhere he goes. baltimore cannot follow up one disasters since they now have another one i can. i'm confident the good people of baltimore are ready for this guy and they will not see him. stuart: when you make these comments, and you often do, are you popular within the black community? did you get hate mail, abuse or not you? >> i don't do this her popularity. what i'm trying to do in the black community is bring a better quality of life. lower crime, better schools for kids. i want to help black people find meaningful work in the obama economy. if that puts a target on my back
like whatever his
name is, so be it. stuart: hillary clinton laid aside features attorney general eric holder. i just want to roll that tape. >> i've known her for almost 25 years. this is a woman who's got her whole life, children to protect voting rights. today hillary is pushing hard for tougher gun laws and accountability. if you want to mix or republicans don't take us backward, help hillary move us forward. stuart: this is your tweet. a perfect accomplice, this is bill clinton committee on the attorney general to be in contempt of congress. you're getting awfully political. you are on the right politically, aren't you? >> yeah. if the shoe fits, wear it. are you running for which office? >> i'm not wearing -- running for anything.
these two are peas in a pod. they both have a history of not turning over documents as required by law. the congress is holding fast and furious, dan ghazi and the e-mail server. she is pandering. she has a deficiency dilemma. if she doesn't turn out voters in record numbers that will doom her hopes and become the next president of the united states. who better to put out there that one of the most race-based attorney generals in the history of the united states. i will add that eric holder is the only sitting cabinet member, the only attorney general in the history of the united states to be found in contempt of congress. these who think they are above the law. stuart: in recent elections, black folks have voted democrat 92, 93%. do you see any sign that proportion of black voters going for the democrats is going to decline significantly in the
next election? >> sure. i'm not going to predict. but if she doesn't turn up the volume of black voters that barack obama or john kerry did, she has no emotional connection to the black community anywhere in the united states sector has been dead and because of that she's got to go pander. she's got to get into bed with some of these race hustlers. waiting for al sharpton to show why. stuart: we know exactly where you stand. that is why you run the show. good stuff. the mac thank you. bernie sanders, hillary clinton debating the issues within that bottle. the big issue of the economy outside the bottle. my take on that is next. [plumber] i need to be where the pipes are.
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of the bubble. money in politics, health care, and of course intense hostility to wall street is what they talked about. they spent their passion on anything but our economic troubles. this may satisfy the increasingly leftist democrat but it doesn't address the despair in middle america. the middle class is shrinking and now no better off than it was eight years ago. by some nature it is worse off. that is at the root of our discontent. classmate sanderson clinton had no realistic solutions. they fail to address the economy directly. political debates go these days, that is kind of normal but it was strikingly different from democratic debates in previous elections. the slogan it the economy. it is a loser today. don't mention it now because for seven years of democrat pol is a comedy economy is sliding towards recession.
we were left with last night's debate and attempt to change the subject to steer voters away from reality to the happy land, a free college, free health care and revenge of the wicked bankers. that may work for now, but it won't last. as the economy slides, it cannot be ignored. the debate will have to break out of that bubble and then we'll find out just how much president obama has changed america.
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>> following the deadly crane collapse in lower manhattan. joining us on the phone now is retired new york fighter pilot lieutenant frank. here is what i want to know about. the crane as it came down damage some buildings we are told damage the structural integrity of those buildings. did the fire department had to close those things down when you investigate this? >> yeah, and it's got shoved it into the damage you have to protect the people in the building. we tried to evacuate. everyone is going to be different. stuart: what i'm getting at is the impact of this trench collapse. it's quite significant night. >> everything is different. we were very fortunate the direction it valid.
mostly to be a tide of the building. you are correct. they have to take a good hard look at those buildings. stuart: the fire department in charge of making sure other cranky manhattanites cured. >> yeah, the dob is going to have to really take a look at everything out there now. reactionary. stuart: thanks so much for jumping on the phone. we appreciate it. i tried to give our viewers the idea of what the impact of this thing and throughout manhattan and all very. thanks for joining us. much obliged to you. breaking away from the crane collapse. we've got a selloff on our hands. a 200-point loss because the economy appears to be weakening followed the jobs report this morning. big name stocks are truly getting clobbered. i was there with amazon.
just a $700 a share last year x.500 now and $30 per share threatening to break 500. microsoft. fifty-six dollars a share the other day. fifty dollars now and maybe dropping below $50. it hits $810. that was tuesday. now it is $100 less. that means -- off the bat is now less valuable than apple imac has happened this week that $40 billion less than apple's value. facebook way, way down. the founder says it's going to have five really in users by 2030. that is an extraordinary prediction but it does not stop it from 5%. >> also down 5% with the broader market there isn't much bad news on these stocks right now. looking at facebook, it is hard
to imagine. right now there's 1.6 billion. the idea is to expand an emerging market. it is called for a basic and can get it on a non-mart phone. the other way they increase users on facebook is bright beaming internet to people from autonomous science. >> i think it's great. >> there's more to the story. stuart: foreign governments will say you are a monopolist that >> or foreign governments to thomas facebook at all. this is a very ambitious target and you have to remember they're already at a billion. there aren't 800 million on facebook messenger. while the numbers added together gave 25 billion. bernie sanders leading hillary clinton in new hampshire. where is all the support coming
from? could be a millennial's. bernie sanders is promising a lot of handouts. college republican chair. alexander, welcome back to the program. >> great to be here. stuart: if i were to say that some millennial spot, freebies, free college, free health care, that is why they vote for bernie sanders. >> college tried to recharacterize what they are saying. when you are hurting and when you are scared, free sound like a really great thing. particularly when it's the only thing you are hearing on campus. bernie sanders takes his message to college-age voters. our party has had trouble doing that. we know they count voters are hungry for the freebies obama promised didn't work out for them. we know that young voters embrace small government values because they vote with it every single day with their pocket
books, how they communicate, using smartphone. all of these things require an open up system to work. >> we don't have free speech on campus. i don't think you as a conservative republican are able to get your message out as the last days. look at me. i'm never invited to make speeches on college campuses and if i was i had to be thrown out. he don't have the level of free speech. you can't get your message. >> it is certainly a challenge on college campuses for college republican groups. their tables get taken down with the student organization and it's a frustrating thing that happens. i will say we've seen over the last eight years the democrats have not benefited from college professors trying to push their ideologies. the sheriff to voters to declare themselves as democrats has declined dramatically.
stuart: that is interesting. the number of youngsters declaring themselves to be democrats is way down. they become independent. that is interesting. a democrat at the last days. alexander cummock thank you for joining us. appreciate it. four days from the new hampshire primary. like urban life in new hampshire. you have the latest polls. what do they show? >> the snow was coming down fast and sideways from every direction kind of like: right now in new hampshire. that's probably the best analogy i can give you. because they come you're so often, the way to look at this is that kind of average everything out. on the democratic side, it is showing bernie sanders with a 20-point lead down the home stretch in new hampshire 57-37. one way or another they are sure to change. the republican side things are bunched up towards the middle but a clear front runner on that
side as well from about one in three republicans here in new hampshire. when you look at who was trailing them is the battle for second. rubio, cruz, kasich, bush, 13, 1110. chris christie who is staking his presidential ambitions on the state not even on the chart. the snow expected to end in two hours. i guarantee you nowhere near where we are in new hampshire. stuart: blake irving, thanks indeed. i did notice jeb bush was way out at the end of the line. he is by the way pulling out all the stops before the primary in new hampshire. he has to do apps in feature his parent and his brother. seems he may need their help. look at what happened at a recent speech. he had to ask for applause.
>> i think the next president is to be a lot quieter to send a signal that we are prepared to act with the national security interest of the country to get back in the business of creating a more peaceful world. please applause. [applause] stuart: zero dear. ed pasquale, come on in. you are a supporter. that video of jeb bush asking for applause made its way around social networks. it's make or break in new hampshire? i don't know. half of the button in the electorate still hasn't decided who they are voting for. it is time now for voters to decide if they want to sit in the oval office. jeb bush has qualifications. stuart: you don't think it's too late? it doesn't perform well in new hampshire. the top four you still don't think it is too late? you could still go wanted when? >> now, i think he will come in
the top four at least and he is really making a good push there. ultimately it is about qualifications. he can distinguish himself through a closing argument this weekend about his qualifications. stuart: it is not. i don't want to disagree head on, but it is not. when voters are looking at these candidates, how about qualifications. they are thinking how a candidate comes across. how does it perform? they've got to see this person on tv every day for four years. they are making a personal judgment about that person. at the moment, the judgment is that jeb is not a good candidate. a good man yes, but not a good candidate. >> i would wait until tuesday night. let me say this. i think he's a good candidate and here is why. there's people who could make an impact on government. we've seen it in florida and he's done that. the personal campaigning going
on in new hampshire fits in far better. stuart: still about $100 million in the bank. isn't that much? >> i don't know if it that much but i do believe the campaign will go one because there's plenty of things for him to say it to be honest at the end of the day it is still about who has to sit in the oval office. the voters get serious about the leather that counts for a lot. stuart: jo ling kent has been following this. you're telling me the turnout has been very strong. >> yeah, likely to be a record turnout according to did secretary of state. that could move to ill for these candidates. stuart: you just heard that could be record turnout to the republican primary. do you think that flat out helps jeb or does them trump? >> just happens to be a cut above, but it does help in the end.
stuart: what about oracle rubio? trump and cruz having go at each other. marco rubio walks right in the middle. >> i would suggest that marco -- we know him from florida. he is a tremendous orator. he will have some momentum. again, the governors have an advantage. they've actually governed it. >> digs for joining us. we do appreciate it. >> thank you. former nfl star john lynch
won a super bowl back in 02. now he's an nfl hall of famer finalist. here's my question and is on the show. what is more, winning the super bowl are getting into the hall of fame.
>> i am nicole petallides with your fox business brief. still plenty of down hours. not a job space jobs added in there so the idea. we will have more rate hikes. the dow down 192. the nasdaq down 121. the nasdaq down 2.7%. s&p 500 down 1.6%. all nine of the 10 technology, consumers, health care really weigh in on the s&p 500. #-number-sign 12%. adobe and paypal losers.
you can fly across welcome town in minutes16, or across the globe in under an hour. whole communities are living on mars and solar satellites provide earth with unlimited clean power. in less than a century, boeing took the world from seaplanes to space planes, across the universe and beyond. and if you thought that was amazing, you just wait. ♪ stuart: the center for disease control issued new guidelines for pregnant women returning from areas affected by the zika virus. >> will, they want to test everybody. ever pregnant women returning from an area.
26 countries have the zika virus to either an absolute no symptoms at all, the recommendation as they should be tested to be sure. >> cdc seem stronger links between zika and microcephaly which affects children and also the transmission seems to be one it is transmitted that the primary way is through the mosquito bites. stuart: got it, thank you. we are down almost 200 points. we have a slowing economy. nothing to do with the price of oil which actually started to move up a little bit. market down big-time 200 points. the super bowl this sunday. my next guest is an nfl hall of fame finalist. come on man, john lynch, former nfl safety and fox sports analyst. obvious question. what is more important to you? winning the super bowl which he did are getting into the hall of fame. please don't say both.
>> well, i think winning the super bowl. when you play this end, that is the ultimate goal to win the grand prize, which these guys, the broncos and panthers play for this week. i will say that the opportunity to be eyeball to be a finalist, to maybe be one of those guys who have done both is pretty special and kind of be the cherry on top to what was an incredible career. >> i really hope you make it. i respect and admire you. first of all, you are a defensive back. you are a safety. so you have to be big and fast. is that correct? >> well, you know, the thing i love about the position is you have to be a little bit of everything. you have to cover the wide receivers can also be able to play in the debate voice, the linebackers and other times you rush the passer. that is something i gravitated towards with the position of safety.
they do a little bit of everything. stuart: she seemed to have come out of it okay. here's an area i don't know much about but i am told the under overline for the super bowl is 45. i am told both teams have a real good defense, therefore i should play the under. how about you? >> well, i don't know for your supposed to be doing this, stuart. no, i would tell you also tell you all so carolina led the league in scoring this year. while they have a good defense, they have a great scoring offense and create a lot of turnovers. you know, i would just maybe say -- i would be thinking maybe the other way. stuart: i hope it's the other way. that is what really makes it happen. are you going to say who's going to win? >> you know, i really felt throughout the course of this or that caroline is the best team in football. i think it's an up hill battle for the broncos.
the narrative i hear is a lot of people think carolina is going to walk. i don't think so. denver has an excellent defense. it's going to be fun. stuart: in our super bowl run-up he answers both questions. i wish you the best of luck. hope you get in the hall of fame. appreciate it. >> thank you, stuart. larry the cable guy is back pitching heart burn fills. try the sack to be precise. he is on the show next. it's always interesting when he is on the show. watch this. you try to imitate an english accent. >> stuart, i love you. stuart: that is what it was like. admit it, larry. >> something about when you say they just sound smarter than the other guys on the show. the dow jones industrials down
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the man he was pitching -- darius. the cable guy himself pitching heart earned hills -- heartburn pills. >> you mentioned the otc, private-sector otc. it's been so long, stuart since we've last laid eyes upon one another. stuart: that is not an english accent. >> stuart, i'm the only guy who couldn't go from stuart varney to jim farney in about five seconds. i've got to tell you. i had a strange thought this morning. i'm glad i'm here. the hotel maid embarrassed me. she walked in on me at 3:00 in the morning. do you believe that? what in the world has been made doing on an elevator at 3:00 in the morning? what is going on?
stuart: you are very entertaining. >> good to see you. i'm excited. i just got back from hanging out with my kids. i know all about it. >> for those who don't know what it is, picture everybody at wal-mart with dave and soothe on. 70 miles an hour. halfway through, somebody's under bridges went flying by my head. i'm like that poor guy. get up and they were mine. stuart: this is not an interview. wait a second. if i take prilosec otc, can i didn't eat eats at 9:00 at night? >> let me tell you something. this is why -- first of all, and before you do anything with
anything, you always need to consult your doctor on what you need to do. before you do anything. they tell you why i'm out here. this is a really good deal. the super bowl is the best for home game. that's why i'm out here. make mangled, the new york jets, me and private-sector otc have teamed up with the taste of the nfl. instead of fighting heartburn, we are fighting hunger this year. we are out here to present a check for $125,000 paid to the nfl. double cover 1 million meals for the people in need. we are excited to be able to be here and do that. stuart: larry the cable guy, i don't care what they say. i think you are a good man. >> i appreciate it. content is coming out. i'm going to send you one of them vermont teddy bears and a gift card. stuart: larry, you are a good man.
stuart: do you like apple at 96? >> no. here is the problem. stuart: what a pleasure it is to have siegel here. >> like an irish mother. stuart: perpetual bear on apple, doesn't care for it that much. not many people do at the moment because the dow industrials are way down, we're 175 points. this is probably got a lot to do with the weakening economy. ashley: the fed will not raise rates, good news, we are taking it for what it is. the economy is not great. stuart: and for once it is not the price of oil which is a liar around $31 a barrel but we are down 169.
that is what we have as of this friday lunch time. my time is up. is yours. neil: we are watching this development in the market and i tell you there's a lot, worse than expected new jobs news but the one that has law market's sort of getting kidney is surprising gain in average hourly earnings, they shot up 1/2% and that is fuelled talk, the federal reserve is going to keep raising interest rates and that is something they don't like to say. all of a sudden in the middle of a weak report, by and large, the unemployment rate did to 4.9%. that has got to stop, the federal reserve from continuing hikes because wage gains are there. the number of jobs are there, not as high as they thought but something the president will remind folks about in 20 minutes.