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tv   Varney Company  FOX Business  May 17, 2016 9:00am-12:01pm EDT

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sand e sanders, and the inevitable. maria: that will do it for us, "varney & company" begins right now. take it away. stuart: thanks, maria. a great divide has opened up among democrats. you know about bernie versus hillary. make way for unions versus greenies. good morning, everyone. two big unions say that democrats have betrayed big labor. the problem, a tilt within the party towards climate warrior tom stayer and it's on the front page of the new york times. here is another problem. violent democrats, death threats from bernie supporters to the party chair. can you imagine if these were trump supporters. outrage about the u.s. sailors captured by iran and a congressman who says he saw the
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full report says na you'll be shocked, the way they treated our troops. let's see how the markets responded to, a, a collapsing venezuela, b, oil cuts in nigh gather yeah and a new fire breakout near canada's oil patch. yes, we cover it all. "varney & company" about to begin. ♪ >> and where is the market going to open this morning? probably pretty much flat or lower. remember, we were up 175 points yesterday. now, the situation is getting worse in venezuela. to be facetious, it's a socialist country and they're running out of other people's money and it's a political and a humanitarian country. they have a deal with china to trade oil for loans.
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look at oil around $47 a barrel, close to 48. it hit 48 yesterday for the first time since november. there's a back drop to the oil story. nigeria's production cut by 40%. a tax on oil facilities to blame. in canada, that wildfire turned back towards oil drilling facilities and that's another anxiety for oil supply and then there's venezuela, that's a huge oil producer. the country is collapsing. ash webster, what's this china swap. ashley: china is smart, understanding that venezuela is in freefall right now. inflation at 180%, state of emergencies being declared by the government. in fact, the government has now been taking over businesses and taking over the distribution of basic goods and services, which is disturbing because private sector businesses will now be taken over by the government, at least they'll have the opportunity to do that. and bottom line, venezuela, the one that relies most on oil revenue.
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china coming in and saying, we'll buy your oil at a discount in order to help your economy get back on track. stuart: so they're helping them as opposed to venezuela coming out to-- >> they're in freefall liz: this is going on and it's a public humanitarian health crisis. infant mortality has doubled and they're going to hand held devices to help them. where is michael moore and sean penn in this. stuart: where is their money? they're the supporters of the socialist venezuela. ashley: when oil prices were high, instead of saving its money, they use it for government spending. stuart: this is a gross failure of a dictatorship liz: 90% taxes. stuart: and other stuff, too to the corporate front. home depot, we've been covering
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the retail ice age, but they're bucking the trend. they're a different retailer. ashley: they are tied to a whole different sector out there of consumer. sales up 6 1/2%, remarkably good and upping guidance for 2016. the housing market has shown signs of recovery, that means more people are doing home improvements, to do up the house either to stay there or move on and sell it and because of that, the numbers are very, very good. and better than expected. stuart: look at that, the stock will open down about a buck. i mean, what more-- >> yeah, probably. lowe's reports tomorrow. stuart: there's another retailer bucking this trend and that's children's place. they're not as big as macy's or kohl's, but they're a winner. the stock is a winner and the company's performance is a winner liz: this is rallying. look at the action there. yes, this is a niche place. it's children's clothes, who would have thought that the sales were up nearly 4% year over year and raising their full year outlook as they close stores.
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smart management at play here. stuart: so a couple of them are bucking the trend. got it. let's get to that violence coming from democrat voters. how about that? the party split, causing scenes like what you're looking at right now. and this is las vegas saturday night, it got ugly. bernie sanders supporters later after this, after this brouhaha in vegas, made death threats to the nevada democrat party chair. how about that? tamara holder is here. i don't want to put you on the spot, but can you imagine what the media would have been saying? >> if it was a republican. stuart: can you imagine? >> i can imagine. stuart: this is what trump people and making death threats against ted cruz's people, what do you think would happen? >> they've been thrown to have fights and brawls at donald trump rallies, let's not go there and compare. stuart: why not?
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it's violence. >> i would think there are violencen all sides that cause the headlines story. wasn't there a former member of the military in arizona that knocked out an anti-trump-- a trump support knocked out somebody else? it happens, you don't want to talk about that story, but that actually happened. i know you didn't read that people. stuart: excuse me and the republicans and trump was promptly labeled as creating violence. thugs were the expression. how could you characterize the bernie sanders' supporters making death threats? >> i think they're thugs, i would agree with. stuart: thanks. >> i would agree, but that's not a representation of the entire party, what it does show, people on both sides are upset about the rules. what has the democrats made an issue of, the rules suddenly change so that bernie sanders couldn't get the delegates he thought he was going to get. that's the issue.
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why are you laughing at me? >> because you're really defensive and you know why. >> i'm always defensive. that's my personality. stuart: you have have a candidate in hillary clinton and a socialist in bernie sanders. >> i'm a defense attorney. stuart: and another divide among democrats, this one is unions versus greenies. in a fight go climate change, jobs ap and money. some of the labor union, there's that man, an environmentalist, that hates anything to do with fossil fuels. and this between tom anded government, they think it threatens jobs. ashley: remarkable how times have changed. these are the hard hat unions,
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and they call it's politically bankrupt and betrayal. because the environmentalists are against infrastructure building such as new gas pipelines and so on, the kinds of projects that create a lot of jocks. and the kinds of policies that would threaten their ability to make things. as another example, so, as you say, it's the teacher's union and the government worker, the public sector, yeah, let's jump on board, but the traditional part of the unions, traditional left, the working class voter, it's all changed and we're seeing blue collar voters going to be trump. >> democrats. stuart: chris collins is with us. and congressman, i think the first trump supporter in congress. it seems to us, congressman, that you have a golden opportunity to bring union guys into the trump category, if you like, and you represent an industrial area, i think, with lots of union members, correct?
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>> i do. it's good to be with you, stuart. you're exactly right. you could say that western new york is ground zero for the labor movement. and we were devastated by nafta and why i've opposed the trans-pacific partnership and when i'm out and about at home, whether i'm at home depot, the grocery store, the post office, it is the blue collar, we'll call them labor democrats. the hard working men and women who lost their jobs and underemployed are coming up to me and thanking me with enthusiasm for supporting donald trump. my county, erie county, home to the city of buffalo, one of the poorest cities in the united states, i'm predicting a 2-1 democratic county and we'll be voting 2-1 for trump. this this is why so many states are in play. michigan, ohio, pennsylvania. this labor movement has to be
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concerning for the democrats. they used to be able to count on these folks to go door-to-door and with the energy and not hillary clinton. >> congress n ma -- congressman, you jumped on board at the best time. and i've got use of iran's seizure of our sailors, a congressman from virginia say there are shocking details yesterday to be released about the kidnapping of ten sailors. congressman, before you go, the obama administration is going to keep it quiet and not going to tell everybody what happened until after the election. >> of course, stuart. we know that president obama is a failed leader, especially on the national scene, and as he has cozied up to the ayatollah and raul castro and turned his back on israel and great britain, it's not surprising that this embarrassment, and when donald trump says america first, that's why that's resonating. everyone knows that barack obama has not put america first.
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he is grasping at straws for anything he can to climb that he's got some kind of a foreign policy agenda. this embarrassment should outrage americans and let's call on obama to release these details that they absolutely are keeping away. stuart: we would like to see them. but don't expect to see them. >> thank you, stuart, good to be with you. stuart: listen to this, milwaukee public schools budgeting nearly a half million dollars for a black life matte matters, and they deny it. and hillary clinton turning on the accent and we'll ask the governor to react. and my accent judge napolitano calling the latest hillary saga huge. >> i opted for personal convenience to use my e-mail
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>> 15 minutes to the opening bell, we're down 30 points when we're off and running at 9:30 eastern time. quick check of apple, please, the best day since march yesterday, going to open around 94 today. got to retail winner, tjx, parent of tj maxx and home goods. they'll be up $3 when we're off and running in 15 minutes. a quick detail. >> 9.9% rise in sales. >> and why they say value conscious shoppers for the homes and accessories. >> and home goods tripled. stuart: and now this, hillary's e-mail scandal. the group, judicial watch, wants hillary clinton to be deposed in a federal case. judge napolitano is with us and i don't know why this should be considered a huge big deal. tell me.
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>> can you imagine if she's the democratic nominee for president and she has to sit down and questioned by two antagonistic lawyers, that would be a big deal. six weeks ago, a judge appointed by her husband, started this for asking about mrs. clinton's e-mails before anybody knew about the existence of her private server. he told judicial watch, i'm going to let you depose the people that work for her, five senior aides, if you find any evidence of a conspiracy, his word, to subvert the storage and transparency laws, stated differently, freedom of information act, i want to know know about it and i'll let you depose mrs. clinton. yesterday they filed an application and saying we have the evidence of conspiracy, let us depose mrs. clinton and we want to do it in 12 weeks.
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what's 12 weeks from today? the end of the summer. stuart: the judge on the case has not said, yes, go ahead and depose her. >> he said he will say yes if they show him the evidence that they have. they haven't said publicly what it is. this couldn't possibly happen at a worse time from for her. if she is he a the nominee, if the fbi doesn't say or do something, the justice department say or do something that causes democrats not to nominate her. she will in all probability be forced off the campaign trail, probably for two days, to prepare for the deposition, for two days to take it and you will know, we will see excerpts of that deposition all over the place because it will be videotaped. stuart: this is separate from and outside of the fbi's investigation. >> precisely. stuart: this is another layer of problems. >> this is one of 39 lawsuits that have been filed against the state department seeking her e-mails. this is the first of those lawsuits, so this is civil
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litigation. this is independent and entirely separate, as you've said, from the fbi investigation. stuart: now, in the past, i've said they're just going to sluff it off and say there was no malicious intent, it doesn't matter, that's a political response. >> inappropriate and-- >> i understand, but that's their political response. >> yes. stuart: but if she had to sit down for two days of grilling by antagonistic lawyers during the campaign-- >> in an environment in which the latitude of counsel to ask questions is very broad and wide. you can ask any question you want that is calculated to lead to relevant evidence. you can ask questions about credibility. you can really, really ask far broader questions than could be asked in a courtroom in front of a judge and a jury. that's what she's going to be subjected to. stuart: unlike in the fbi investigation, will these lawyers, if they do a deposition, will they know the answers to the questions that they're asking.
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>> i don't know the -- i don't know the answer to that. stuart: this really puts you in jeopardy. >> it does. it's discovery so this is not a cross examination environment. it isn't what did you do, what did you do? in an efforts to make her explain her role. stuart: i want you to make a judgment with the stuff piling up, is it possible that she could remain the democrat nominee for the democrat party in the election in november, with all-- if she's deposed. >> i think you'd have to ask a democrat that. a person who has a better thumb on the pulse of the democratic party. do they think that hillary clinton is their person or do serious, fair-minded democrats recognize she has a very grave potential legal problem and a serious image problem with respect to honesty and integrity. stuart: joe biden's name keeps coming up?
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>> joe has already said who his veep will be. stuart:. [laughter] >> all right, judge. time is up. frustration, is important story, everybody is talking about it, growing frustration at the nation's airport, long, long lines of people. some sleeping in cots, that's chicago by the way. because of the staffing at security check points, we are going to deal with that if we can. and chaos in venezuela, the oil money is drying up and the socialist economy collapsing. are we, that is america, going to have to bail them out? we'll be back.
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>> as i've said before, everybody is talking about this, it's a serious problem at the airports. look at this, people sleeping on cots because they missed their flights because they couldn't get through security. thousands of people have missed their flights. ashley: it's only may. stuart: and it's only may. good point liz: fly the unfriendly skies. stuart: i was at newark airport, before i was there, the line was two hours long. wait a minute, tamara, i don't want to be ideological here, but it seems to be the failure of government, the failure of bureaucracy, they haven't taken care of--
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>> it's a failure of the republicans not wanting to fund the government, but for the military. this is the failure-- there's been no failure by tsa. the reason why-- why are there long lines? because we're understaffed to deal with travelers and tsa wants to do their job. so they're making sure instead of shovelling and pushing everybody through security, they make sure everyone goes through a thorough check. if it's going to take three hours that you don't want to give, you don't want to give tsa, what is it, 34 million from congress because you'd only give it to the military. that's the problem we have. stuart: and 34 million dollars from someplace else in what, 4 trillion worth of expenditure, they can't find 34 million? i'm sure they could. why don't they? >> there's a fight against government spending.
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stuart: i think that the administration should take care of this problem because a lot of people are going to be very, very angry. >> they need 6,000 workers. stuart: union workers. ahead, the governor bryant, he was a cruz guy and now he's backing trump. he says it's time for the party to unite. the futures, we're down 40, 50 points, but don't forget we were up yesterday.
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>> tuesday morning, following a big gain, 5, 3, 2, 1, bang. we're up and running and expecting to go down 40 points, maybe 50 from the get-go. i have a retail winner for you, there's a switch. it's tjx up 3% at 75. they're the parent of tv maks and home goods. for that one company, i'll say at this moment, no retail ice age. that's been our theme for the past 10 degrees. tjx accepted. ashley webster is here and so is liz. mike murphy and tom horwitz for the markets. mike, there are some bright spots in the retail ice age. >> there are.
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and we heard that macy's and nordstrom. we're hearing about home depot and it's hitting on all cylinders. the stocks are near all-time highs. >> it's down, and sells off on a massive quarter. the issue here, can they continue this? can they continue this momentum? the same-store sales up at home depot and look at competition to come in there. stuart: now, i'm just saying that the stock is down, even though, as you pointed out. that was a pretty good quarter, but it's a different kind of retailer. it took in the housing market. the prices are moving up. people are becoming more mobile and therefore doing more work on their homes. stuart: i've got another exception and that would be the children's place. they sell children's clothing. better profits and better sales. >> we're looking for glimmers of hope.
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and it's nearly 4% year to year and making the same-store sales numbers looking better. >> i guess what we're getting at. the retailers are in dire straits and it's not that bad. >> instead of retail ice age, maybe retail renaissance. people are shopping differently. the way people shop and take goods in is different now and technology is going to continue to change that. >> okay, i want a check of rah right of stocks and we check frequently, they're always in the news. amaz amazon 709 this morning and record last week 722. you're close, not quite there, but close. it's the same story with facebook. their record high was 121, this morning they're opening up 118. how about mcdonald's? their record high was 131.96, no change this morning, but look at that, 129.64. here is a headline, watch out
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apple, wal-mart is resisting apple pay and releasing its own version in 500 stores. nicole, are you going to tell me more about this one. nicole: they're working this one, wal-mart pay in texas and arkansas and they have customers working with the allmart -- wal-mart and critics are saying it's not a tap to pay experience, you have to open the app and click on wal-mart pay and click on the code. however, it's a competition between the two and wal-mart is saying no way. stuart: and wal-mart seems to be trying to change the way it does business. trying to change a little bit, but you're not buying it at 65? >> i'm not. wal-mart hasn't changed quickly enough. they have these employees and
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real estate and people are going on-line to purchase what they need. it bounced down to 89 and bounced back. >> intraday 87. stuart: news on apple, they don't reveal the apple watch sales, they don't do that, but we've got one firm that says apple watch sales are way, way down. how much are they down? >> industry research, apple doesn doesn't-- and the units in the fourth quarter, that includes some holiday shopping season. they say that unit sales is meeting our quota for the first quarter. they've been out for a year and apple doesn't talk about it. stuart: i hate that the watch
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is a failure. i hate to be dramatic. >> i'm saying, the watch, you can tweak it, they're saying 12 times earnings get me $135 a share, almost 40% from here so it's a value play if you're owning apple. stuart: i here tom horwitz in chicago making choices. apple, they're ramping up and we hear it's mass hirings in taiwan. >> the iphone 7, a more complex iphone 7, possibly all glass with no edges to it. that's coming out of apple as warren brother took a big stake. who who is--
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>> if mike murphy gets in on this. would you buy apple. >> i said two weeks ago i'd buy it in the high 80's, but here i like apple as a value play. you get the buzzer for that. [buzzer] >> are you going to buy it? >> i'd like to buy apple. stuart: thank you. [laughter] i know you're out there, i will get to you and that's a promise. twitter, looking at the-- looking at the monitor, twit are is going to stop counting photos and links in the 140 character limit. >> that is what's frustrating about being your own, that counts to the 140 limit. and they're going to get rid of it. and watch this, twitter has a deal to live stream 10 thursday night nfl games and put that
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link in there. it's a key time. they need to go beyond the 10 minutes on the average. >> maybe the more is going to scream for these games. one other thing. some big name, wait, wait, wait, this is what i'm supposed to read. some big names are leaving vine instant video site for facebook. >> that sounds like twitter. >> and well, vine was three years ago and the six second video was incredibly popular. ashley: it's created a whole new breed of comedy. kids love that stuff, but now not so much. they're going to facebook, snapchat, because they're putting more into their business model.
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vine stayed there and they're losing and hemorrhaging and they were the top five. stuart: jack dorsey, twitter, he apparently owns square. early investors can cash out of twitter or square? >> yeah, the lookout-- see what a tooper the guy is. listen to this, the situation is worsening in venezuela, facetiously, they're running out of other people's money. what do you make of this on the oil market, todd? >> good morning, stuart. i think it's more of the socialist views of venezuela that they can create entilements for their own and
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once again, i'm sure they will end up not paying the chinese. it's a vicious circle that goes over and over again when you run a social economy and end up having to devalue and be broke. . >> in greece, no payments until 2040. that's a quarter century away and that's for the imf. ashley: getting no principal and interest until 2040 and extent out the maturity dates on the loans until 2080. stuart: todd, come back in, i'm sure you've got something to say about that. >> what we're looking at here is the thing pushing down the dead down the road. we're trying to help that we pay. and if you don't want to pay
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this shall you have to go to work. to begin with, you have to put together a real economy, real growth and real jobs. if you don't, you're going to fail greece and the others. stuart: who is not going to get paid? it's germany, isn't it? aren't they one of the biggest? greece owes about $300 billion, somewhere in that neighborhood and they'll never pay it back. >> it's germany, the -- ireland they were defaulting on everything and turned that ship around. if greece can look at that play book. ashley: completely different animal, ireland to greece. >> same process. stuart: again, i keep asking, who gets stiffed? germany? or-- >> germany is the-- >> imf has been agreed to the
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back that bailout liz: another program, bernie sander, michael more. stuart: billionaire and democrat george soros investing the markets. >> he's doubled bets against the s&p 500, this comes on the heels of carl icahn more than double his bets since the end of last year, fought against the s&p 500? george soros says that gold is the ultimate bubbling. he's now taking more of a position in gold. is it warp buffet going long as a -- >> would you bet against the stock market right now, todd? >> i would bet against the stock market, i would be a
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buyer of apple. i think they're both right. >> mike, i would not against th this. ashley: only 62% of americans own stocks, that's the lowest in decades. and the individual stock owners stock ownership, and that amount of money coming out of the market is remarkable. what does it tell you? >> the s&p 500 is trending more than on the 10-year bond. so the-- >> for whatever reason, people have been taking money out. stuart: they're nervous, maybe about the election. ashley: yes. stuart: certainly about the economy. and half of all americans, adult americans. ashley: 52%. stuart: own jock-- they own a share of apple or a share of-- >> no, i think it includes mutual funds.
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>> it's got to. >> the traders down at nyse are like, what's going on? this is -- this is about it, the only place where you can get a desent return. >> gentlemen, thank you for joining us, we appreciate it. it's tuesday morning and we are 13 minutes into the session and we're down 78 points as we speak. lending club opened at a record low. there is a justice department probe, i want the full story and nicole, i think you've got it. nicole: lending club is supposed to lend to consumers, small businesses, however, the department looked at the ending, saying they falsified information. we see the stock continuing to stel off. it it's-- if you look at this chart, it's straight down. a tough one to so stomach.
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stuart: we'll see pandora is a winner today because it's up about 7%. nicole: they take a stake, nearly 10%. 9.9 said to be precise and now becomes the biggest shareholder of pandora. they're encouraging pandora to sell. sell your music platform instead of trying to reevent your business, over the last 52 weeks, it's down. stuart: nicole, thank you very much. let's wrap up our market coverage for now. the dow is down 70 points and price of oil around $47 a barrel. many people in the republican party are indeed uniting around donald trump. the governor of wisconsin used to support ted crews and now
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donald trump. why support trump? because he's the inevitable candidate? >> we look at three supreme court judges, even though we look at a possible eight years much donald trump presidency, and we look into building national defense so our enemies fear us and allies trust us again. securing the border. you can't have a safe nation without a safe border. those are the things that are attracting them to donald trump. this will be through the supreme court appointments and district court appointments. u.s. attorney points. this president will have an opportunity to have the courts for the next 50, 75 years and
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that's important to us, and by the way, i like donald trump. i think he's a tough guy. he says what he believes. what i do and do here in mississip mississippi. stuart: good morning, i'm familiar with the state and the mississippi gentlemen if i can put it like that. you're a gentleman. >> yes, sir. stuart: donald trump is not a gentleman. some of the things he's said were profoundly bad language. >> you know, we are gentlemen -- i'm sorry to disrupt. we're a gentleman until you get into a rec -- ruck ruckus. when it's all over, shake hands with the guy you were in the ruckus about. you're seeing that now. the reince priebus rallying around him. the fight is all, but over.
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we're going into cleveland united and strong and we understand that politics is a contact support. sometimes it gets rough, but we're all accustomed to that. it's been through the history, if you look at past elections, abraham lincoln and andy jackson, no one has opinion caned. no one's been shot at and no duelling so we can come together. stuart: one more thing for you, hillary clinton was campaigning in kentucky and i think she was using a southern accent. i want you to critique it, roll tape. >> do i have to? >> appearing with us, been around helping my husband and me for a long time, too. i always feel safer when he is, and see it when he's got that hat on. he never takes it off. he was reminding me earlier that when i was a senator from new york, i came out of, one of the senate buildings and there he was, i immediately
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recognized him. how could you not? >> governor, i do have an accent myself. would you care to critique the accent you just heard? >> you know, if she doesn't get elected president, there may be an opening on the blue collar comedy tour for her-- with that accent which we'd have to get her better jokes, but it's a little insulting that that thing was a happening. she was pandering to the crowd. i won't hold that against her, and she needs to work on it and say y'all in there, but what we want to hear is about supporting supreme court judges. >> she's been silent on it. i want to hear fits it's bernie sanders. >> well, we appreciate you being with us this morning and
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giving us advice on accents. i'm very familiar with that. >> thank you, stuart, thank you all very much. >> the milwaukee school district's latest budget. allows for nearly half a million dollars for black lives matter and the curriculum there. and more on the iran deal and we're expecting fireworks. more on the venezuela's dire straits, food shortages and crowded hospitals. the question, will america be called on to bail out socialist venezuela? u.s. troops are on the ground in iraq for all eight years of obama's presidency. we'll learn what his mistake was
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>> fallout from that massive brawl between the blue jays and rangers. there is the punch and the guy who landed that punch could face a record suspension. ashley: the rangers second baseman slugging there. stuart: what is a record suspension? analysts say it could be five to eight games, on the bigger end of that. ashley: a big fine. stuart: that doesn't seem like much. ashley: in baseball terms that's a big, big suspension. the question here is he threw the punch, but bautista, the blue jays guy there, that received the punch, it was all over, and dangerous because he was hit earlier. he approached odor with his arms up and pushed his chest so you could argue that he responded to the aggression towards him liz: are they arguing that?
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>> yes, they are, which could mitigate. but that was a clean punch and he must have had some boxing training. stuart: the lawyers must be all over this liz: don't defend yourself because you could get punched in the face. bottom line. stuart: now this, milwaukee school officials say a budget for black lives matter is a misunderstanding, they say the money won't go to black lives matter, but for hiring and training, three social study teachers. kyle olson is with us, with the education action group, foundation. your group opposes the funding, but they've explained it's not going to go to black lives matter, but to hire three social studies teachers. are you dropping your objection? >> no, it's worse because now they're changing the curriculum to reflect what black lives matters believes. and so it's infinitely worse
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than what was originally reported. stuart: the so changing the curriculum to reflect black lives matter ideology. what exactly will the curriculum be? >> they're saying it's a cultural studies curriculum. when we hear cultural studies and we look at what's happening around the country. in tucson they had a cultural studies curriculum and now are teaching mexican history as opposed to american history. i think that's the thing that's happening in milwaukee. stuart: what are you going to do? oppose the funds to hire the teachers? >> no, we're just trying to expose it and bring attention to it and wake parents up because the reality is, you look at a place like milwaukee. they've got a 60 graduation
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rates. 16% are pro if in reading and we want to wake parents up to say this is what your school board is doing and if you don't like it. stuart: it's an important issue, thank you, sir. >> thank you. stuart: next hour, a hearing on the iran nuke deal and whether the obama administration misled the public. and the u.s. sailors held by iran and a congressman says he saw what happened to them. he says the details will shock you. we're back in two minutes. the good news is my hypertension is gone. so why would you invest without checking brokercheck? check your broker with brokercheck.
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stuart: it is 10:00 eastern and new this hour the house oversight committee holds a hearing on the iran nuclear deal was the person on the right of your screen, then roads, will not be there. these the obama foreign policy advisor who admitted in a new
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york times article that he misled the media to sell the deals of the public. he is a no-show. the chair of the committee is going to gavel this hearing to order and we are going to listen to his opening statement because we expect it to be impassioned to say the least. he wanted roads in the chair, roads is a no-show. ran combat veteran and author of the new book in the arena takes us there. what do you make of this, then roads admitted in the new york times article that they misled the journalists and the people about the it ran nuclear deal. and he is a no-show. >> entire campaigns were waged in won on the so-called iraq war lie. this is far worse because they really were looking to deceive through the media intentionally and then brag about it to the new york times. the stakes could not be higher. you look at it and say this is standard practice for the obama administration this should be an outrage, he said executive
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privilege. he has given way his privilege -- stuart: the chair of that committee demanded been roads be there. he is not going to be there. jason j fitz is mad and i think we are going to hear from him any minute now when he makes his opening statement but i want to stay on he ran for a second. congressman randy paul is a congressman from virginia, he says he has seen classify details behind you ran's treatment of those american sailors captured earlier this year. if they are ever revealed mister forbes says we will all be truly shocked. remember please, john kerry thanked the readings for returning sailors to the us and for the treatment, i want to
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listen to jason schaeffer's for a second, just gavel to order. >> i ask unanimous consent to enter into the record, first is new york times magazine article, the aspiring novelist to became the foreign policy guru, second is a letter from the white house addressed to me, copies of the ranking member, mister cummings, talking about how the white house would not make been roads available to the committee and i would like to enter into the record from senator mark kirk and senator john barrasso and i would like to enter these into the record. >> without objection so ordered. >> air ran, one of three countries on the state sponsors of terrorism and i think it is important we have some clarity, there are some issues outstanding, one of the most important policy initiatives the president has taken forward but i still think it demands a lot of clarity. we were hoping the clarity would be provided by benjamin rhodes,
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deputy national security adviser for strategic communications and speechwriting. obviously a very talented and trusted person in the white house. i do not doubt his talons and knowledge but the deal that had been spun up, was not as clear as it should have been. i have questions about the transparency, truthfulness and when it ultimately started and those are legitimate questions as we move forward because here you have a state sponsor of terrorism in iraq and and we still don't fully know the answer to a lot of these questions. there is a shroud of secrecy and i think this is a viable thing to look at. mister rhodes was in a unique position to offer this perspective given his heavy duty and work on this. what is mystifying to me is how readily available he made
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himself to the media but only select media, those in his echo chamber, showed obvious disdain for people with foreign-policy credentials, great disdain for the media themselves. he is entitled to those personal opinions but he elected to share those with the new york times and put them out there. very negative about congress going so far as to say could not have a rational discussion, summarizing here with the congress so we provided that. josh earnest from the podium at the white house openly mocked congress, said that perhaps we should be calling other members up such as senator tom cotton, who should also swear and affirm and answer questions. i took that suggestion, shared with senator cotton, and we accommodated that. mister cotton had agreed if mister rhodes would be here to also be here to answer questions and ferret out any of these
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details but mister rhodes elected not to speak. he has a public speaking engagement today, he is out giving a public speech today but refuses to come and speak with congress. i am going to play two clips of my opening statement and i think you can see where some on the other side of the aisle will say we know everything about this, it has been thoroughly debated but i want you to watch this, what we call clip be. stuart: chafe it's expecting to see been roads, presidential foreign policy advisor, then roads did not show up in the opening statement you just heard, he is questioning the truthfulness, the veracity of the administration during the air ran nuclear deal preparations and negotiations. you heard jason j fitz is obviously not happy and i don't
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understand why the administration would not let this man testify. >> it is not flattering to their approach. and this president has shown he believes he is above the law. why submit been roads to what they deem hostile congressional committee. they will wait until they are forced by subpoena and that is what it will take to get these answers because we need these answers. as a republic we require the transparency on an issue -- we were deceived on an issue of massive national security implications, the deal with the islamic republic of iran where we were spun willingly by the white house, inexperienced white house speechwriters to the president's foreign policy advisor to get a deal in terms that were never true. that is a scandal in this is just the beginning of pulling back the curtain even more. stuart: our relationship with iran is a scandal during the negotiations for the deal and
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afterwards. i will go back to the ten us sailors captured by the iranians, we are told by a republican from virginia that they were not treated well. i'm going to roll a quick soundbite from john kerry who thanked a ran, thanks for treating them so well. role that tape. >> i want to thank the iranian authorities for their cooperation and quick response. these are situations which everyone knows, but ability if not properly guided to get out of control. i am appreciative for the quick and appropriate response of the iranian authorities. stuart: restrain your self, this is extraordinary. >> reminds me of the ceremony in the rose garden with bowe bergdahl, so out of step with what geopolitically how they have been absolutely hoodwinked. things are classified, we won't know about them, there is likely
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something we don't know but our response will be scandalous when we learn more how obsessed they were with getting away from it and uranian treatment of our sailors, sounds like there is more there in the coercion of what was done to our sailors, if we had known any of that we shouldn't have fallen over ourselves the way john kerry did. it until after the election of the next president will have to deal with this mess. >> we will find out what is in it and what the implications are. stuart: hold yourself back as much as you can, thank you. segue to the market please, we are down, not a huge selloff, we are up 175 yesterday, down 84 now. ashley: us consumer prices, increase the most in three years and industrial production moving higher. all of this combining to raise the chances that the fed will raise rates by the end of the year. we are seeing treasury yields moving much higher in reaction
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to the inflation news. stuart: it might change the market, going down a bit more. look at the price of oil, we are at $40 a barrel, almost at the high point for calendar year 2016. home depot, that is a drag on the tao. it is a dow stock, very good news on its sales and outlook but pulling the overall market down because it is off a buck. jack dorsey, cofounder of twitter, he runs the mobile pay company square, apparently early investors in square can now cash out if they wish. cheryl: the stock is collapsing below its ipo price of $13 november 15th, that is when it ipoed, 27 shares but more than ten times that amount could be available for sale due to lockup. square is paying its workers
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with paper meaning stock options and warrants so those are exerciseable may 17th and pressure on the stock. stuart: esther dorsey is not doing well with twitter. leave it at that. i will go back to the campaign trail. democrats are split, turning violent against each other. you are looking at the nevada democrat convention saturday night. nasty stuff. there are reports of death threats from bernie supporters to the head of the state's democrat party. the "national review" is with us. it is getting ugly, death threats. what would it be like in the media this morning if it were trump supporters making death threats against ted cruz supported? >> it would be a much bigger story and this has been going on for a while because if you look
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at what the anti-trump protesters have been doing, they are going bananas too. there is this narrative of conservatives being harsh and the narrative of trump supporters being crazy. that has been decided in the public i feel like. no matter what they do, death threats they won't talk as much about because it doesn't fit the decided narrative. stuart: it would be very different if there were death threats -- >> everyone would be see, this is donald trump's america. stuart: we also have this. democrats split another split, unions against the greenies, seems the parties tilting toward the climate war, big labor is betrayed by this and it is a real split. and hillary clinton fighting for kentucky, that looks really bad for her.
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stuart: inflation picked up a bit, industrial production picked up a bit, the federal reserve may raise rates. that is why the dow is down 83 points. tesla down about, there's a new accusation. ashley: cheap labor subcontractor is bringing workers from eastern europe paying is low as $5 an hour, no overtime, no workers comp, american labor can cost $52, making big savings, elon musk the head of tesla says don't know anything about this but we will investigate it and make it right, he does say government regulators cleared them of wrongdoing but they are vowing to take care of the underpaid or workers that become injured. ashley: to the front of the show, what is happening in
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venezuela is a dire economic situation. frankly it is collapsing. that is an active word to use. it is a humanitarian crisis, political as well. is real ortega, knows something about venezuela and what's going on. this is the failure of socialism. you want to disagree with me? >> absolutely not. at the root of what is happening here is absolutely socialism. the government's faithfulness to the system that is not working, there is corruption but socialism is the root cause of what is happening here. we have seen images of infants dying, this is reported by the new york times yesterday. you are absolutely right. this is a humanitarian crisis and a direct result of socialism. stuart: what should we do about it, if it is a humanitarian crisis, people are dying in
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hospitals, do you think america will be called upon for some kind of bailout or a huge humanitarian airlift of goods and supplies to bail them out? >> what venezuela definitely needs is economic freedom. it needs to reinvigorate its private-sector. venezuela has been appropriating private businesses, tampering with the market and that is why they are in the situation they are in now. they don't need a bailout. what they needed to correct its economic model, get away from socialism which is not working and embrace the market. stuart: puerto rico is on the verge of bankruptcy and collapse. the mayor of new york, america refuses to bail them out because they are people of color and that makes us racists. are we going to get the same thing in venezuela, we don't bail them out, don't help them
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because they are people of color and we are racists? we are going to hear that all over again? >> that is unfortunate and insulting. i am an immigrant from mexico and my family fled mexico because of corruption and embracing statist policies. what puerto rico needs is turning back to the private sector, free market principles that we know actually yield to better outcomes and for puerto rico and venezuela they need to correct their system, they don't need a bailout or an influx of money. they need to change course. anyone forgive me for digressing for 20 seconds but you are an immigrant from mexico. could use your self-loading for donald trump? >> not at this time. during the last eight years under barack obama things have not gone better for hispanics, a change in course is needed in this country as well. stuart: thanks for joining us,
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we appreciate it. and this, the saudi embassy in berlin branded as an isis bank. the building was lit up by protesters. that is a projection of the isis flag by the way, the words daesch bank, that is another name for isis, human rights activists claim there is a link between saudi arabia and terror and that is what you are seeing. on the campaign trail hillary keeps her focus on trump making fun of him, impersonating him. listen to this. >> what is your plan to create jobs? his answer is i am going to create them, they are going to be great, i know how to do it but i am not telling you what it is i am going to do. the heirloom tomato.
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not too bad. but bad enough to need an appraisal.
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stuart: apple is ramping up production for the iphone 7 mass hiring in taiwan. ashley: doing this a lot earlier than they normally would a month earlier, they need extra training on what they are doing, a chance that whatever apple is holding out there will be more complex than first thought. they thought it would have a few minor upgrades. the 10th anniversary, do you believe the iphone data ten years ago or next year when they expect to go to this all glass display that goes around the edge so that is the excitement but maybe not. maybe apple will surprise people. stuart: i remember seeing the first iphone. i can remember things.
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walmart resisting apple pay, releasing its own version of a payment system. cheryl: this seems like a battle royal between walmart and apple. both of them, and -- that is the wave of the future. it just swiped with your iphone. ashley: it sounds a bit contemplated. voters in oregon and kentucky are hitting a pole today, oregon is a caucus, should be wrapped up by bernie sanders, he should win big. kentucky is a closed primary. only democrats can vote in the reply memo is primary. no independents allowed, that gives hillary an advantage, you can't have independents coming into vote for bernie sanders. she needs to win big time in kentucky. not sure she will. she has been mocking donald
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trump. >> imagine i am on a debate stage with donald trump. personally i am looking forward to it. here is the question. what is your plan to create jobs? his answer is i'm going to create them, they are going to be great, i know how to do it, but i am not telling you what it is. stuart: i thought that was pretty good. >> the worst donald trump impression ever. it was like an impression. i don't know. the criticism is not okay, saying he doesn't give specifics for how to create jobs when her plan is literally my husband is going to do it and it will be fun. stuart: hillary clinton must win kentucky, she has the advantage because it was a closed primary and she has got to win.
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>> she may not. bernie sanders has been doing very well with white working-class voters. cheryl: her policy for creating jobs. with 30 billion funds. stuart: government funding. government spending. >> bill clinton enjoys the dot.com boom, stronger dollar, controlled by the gop. >> it is not the 90s. ashley: could lose every primary and still be the nominee, no doubt about that. you don't want to limp into that convention that way. stuart: i have a story of upset, story causing upset online. a newborn bison in yellowstone national park euthanized after tourists put it in their suv. i don't understand why the bison was euthanized just because it was in an suv.
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cheryl: e bison was seen thought to be freezing. father and son put the bison in the back of the car, took it to a park facility, once their human hands touched the for of the bison the heard will reject it. this is a wake-up call to all terrorists. do not touch animals in yellowstone national park because the bison can smell any other sent from two miles away. once the calf was rejected, it was a traffic hazard and dangerous to tourists. ashley: why couldn't that animal have gone somewhere else? the size of rochester is five, 6000 acres, they could have taken that animal and used it for educational purposes. don't know why they had to kill it. ashley: i have this for you as well. a statue of ben franklin sent toppling to the ground in boston, strong gusts of wind sent a tent flying into the
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statue. down it came. that statue has been up right. cheryl: we don't want to see a founding father on the ground like that. pick it up. ashley: stuart: when i heard this story i thought it was a political demonstration. president obama the only president to be at war for two full terms and defense stocks have gone through the roof in that time. the full story in a moment.
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stuart: breaking news from that hearing about iran that we showed you at the top of the hour. eli joe cummings says he does not know with dan rhodes misled the media. he did plan to blame president bush.
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roll tape. >> actually promoted false, false white house narratives. i think you picked the right person. if our goal is to hear from someone that was not involved in one of the biggest misrepresentations in our nations history, then you picked the wrong person. listen to the criticizing of false white house narratives is beyond ironic. the colleagues in the white house wrote the how-to manual. the profound tragedy, thousands, thousands of u.s. servicemembers from our district were killed in iraq. thousands more are sustained
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terrible injuries. stuart: let me back up a little bit here. rhodes had been asked to testify. admitted in the new york times that he had misled the american public and the american media about negotiations for the iran nuclear deal. we should have the other people on the stand, like president bush or dick cheney. they misled the company about iraq. you worked in the bush administration did what do you make of what he just said? >> we know for a fact that there was misled information. it did leave to the iraq war. the administration did have faulty administration. it created chaos in the area. let's try to back track.
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we had enough investigations with what happened with the iraq war. what happened that was faulty with the intelligence gathering at the time. we are looking at what is happening right now. the iranian nuclear deal. the tell all novel lists. basically admitting. giving this information to 27-year-old journalist. just feeding it to them. the iranian president was a moderate, but he really was not. really creating a sense for the american people to somewhat believe that this deal would be something positive for the united states and our national security. stuart: they were given what turned out to be wrong
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intelligence information. they acted on it in good faith. would you stay there for a second. i promise, i will get back to you in a moment. we're now we are now down 82 points on the dow industrials. inflation is picking up a little bit. that suggests that the federal reserve may raise rates. economics professor from the university of maryland is with us right now. we are so focused on this retail ice age. the bad does not seem to be an economic indicator. the economy seems to be picking up a little bit. >> absolutely. we have good news about home depot. you do not buy cinderblocks and bags of cement over the
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internet. you do buy better than what macy's can give you. >> we do have a retail ice age. that is not indicating that we're going into some kind of consumer led recession. >> i think that that is the absolute case. they were putting a little bit of money aside because they spent a lot for christmas. i think that we will do fine. we are selling a lot of cars again. >> i want to talk about this. i blame socialism. i will digress for a second. they are ordering fact to raise to reopen. >> only one pure or -- brewer rebuffed. make beer or i will put you in
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prison. stuart: should we send them humanitarian aid? should we send them money to get them out of this mess? >> it is based on selling oil and reduce give you doing -- redistributing the money. it is not the government's responsibility. tell them to get the money from the chinese. >> they will get the money from the chinese. >> well, get some more then. [laughter] the reverend or michael moore. go ask them for money. >> you know, it would be a good thing for michael moore to give it away. stuart: how about this. sooner or later, you run out of
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money. peter, thank you very much for joining us. check that they board again. still down 80 points. still with us, please. there you go. i want to talk about another divide. unions versus greenies. some in the labor movement did teachers and government workers, for example. that is turning off hillary's big union supporters. mercedes, this is an ideal opportunity for trump to walk in there and grab some democrat votes. >> already driving some of these voters. these two groups, the environmentalist versus the
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unions, they have two very different goals. for the unions, more about preventing or slowing down the economic globalization. ensuring that union workers and their families are a broke -- are able to recuperate. it is very popular with the populist message. having a front porch focus group out in some of the states. they found that there was growing support for trump in this message. you will see these breaking from their union leadership in going forward here and clinton still has popular support as well as bernie. >> it just reminds me. mercedes, thank you very much
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indeed. president obama's legacy. two full terms out war. and indirect economic effects. going straight up. >> remarkable. we know what he has done for the gun industry. you will do a double take when you see some of these numbers. general dynamics up. 123% over this. that nice upward movement. >> look at that. straight up the mountain. >> are president obama's term. they all look like the same chart. up 184%. up 224%. all of those charts look remarkably similar.
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>> telling the story. hillary clinton. she needs a big win in kentucky today. no independents can walk in and vote for bernie sanders. lose their and hillary has a big drop on. karl rove has that next. ♪ there are two billion people who don't have access to basic banking, but that is changing. at temenos, with the microsoft cloud, we can enable a banker to travel to the most remote locations
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>> renumber varney and company start that dynamic eastern. here is what you missed last hour. >> with all of this stuff piling up, is it possible that she could remain the democrat nominee in the election in november? >> democrat. a better job on the poles of the democratic party. do they really think that hillary clinton is their person? she has a very grave potential. a serious ammo image problem with respect to honesty and integrity. ♪
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stuart: there are a lot of names in the retail section. i will take a look at office depot. big five sporting goods. they owned the victoria's secret and bath and body works. then we have nordstrom.
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way, way down. >> aeropostale bankrupt. stuart: date names. important votes for democrats in oregon and kentucky today. that should be one very late easily by bernie sanders. independence cannot vote in it. hillary needs to win their and she needs it badly. we have a guy with us that knows a thing or two about elections. karl rove. welcome. to see you, stuart. a closed primary. stuart: oh, sorry. you know your stuff. very good. it is a closed primary. >> there has been only one full.
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i expect it to be a lot closer than that. the fact that we are still talking about this contest, with all of the superdelegates, it is pretty amazing. >> i find kentucky a must win for hillary. it is a close primary. they cannot just come in and vote for bernie. that is an advantage for hillary. if she loses, it would not mean that she would be denied. >> 120 delegates. she has 524, i think it is, superdelegates versus 40 for him. she only needs to win like 15% of the remaining delegates. she will win north of 45%.
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even if she loses one or both of those states. >> you think that she will win kentucky? >> mike god tells me know. west virginia democrats are more moderate in nature. her husband as record against coal, a big chunk of west virginia. eastern kentucky is have equal countries. my suspicion is the same dynamic at play there as well. stuart: nancy pelosi commenting on the election. take it to the bank. i guarantee it. i made some full list predictions in 2012 and 2008. i was wrong. >> if she wants to be serious about it, let her put some
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serious money up. this is a serious election that has shown itself to be not covered by the normal rules of politics. anyone who thinks that this is over is kidding themselves. it will be an ugly campaign. right up to the end. i think it will be hard to see how it will turn out. stuart: he chooses his words well. you know your stuff. i appreciate it. i speak to fill bryans. he was a cruz guide. now he is back to trump. he is next. ♪
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stuart: many people in the republican party are uniting around donald trump. he used to support ted cruz. now supporting donald trump. why do you support trump? >> we want to win, stuart. there is no doubt about that. even though you may be looking at eight years of a donald
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presidency, which is something that we look forward to because we believe in the growth that he is talking about, building our national defense. our allies will trust us again. securing our border. those are the things that art attract and republicans like the governor of mississippi and many others to donald trump. realizing that this election will have effects through the supreme court. u.s. attorney of importance. they will have the opportunity to reshape the courts for the next 50-75 years. i like donald trump. i think that he is a tough guy. i think that he says what he believes. >> i am familiar with mississippi. i am familiar with the
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mississippi gentleman, if i can put it like that. donald trump is not a gentleman. >> we are a gentleman until you get into a raucous. he has been in a raucous. when you get into a street fight, you have to be a street fighter. i think that that is what you are seeing now that you see the speaker of the house. the majority leader in the senate. rallying around him. the fight is all but over. hillary clinton was campaigning in kentucky. i think she used a southern accent. i want you to listen to it and critique it for a moment. >> do i have to?
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[laughter] >> i always see him when he has set out on. he never takes it off. he was reminding me earlier that i came out of the senate. there he was. i immediately recognized him. how could you not. stuart: i do have an accent myself. >> you know, if she does not get elected resident, there may be an opening on the blue-collar company. stuart: giving advice on accents. governor, thank you for joining us. we do appreciate it. >> mark zuckerberg meeting with conservatives tomorrow. he is joining us next hour. a tribute to police officers on an ivy league campus. the third hour is three minutes away. ♪
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stuart: good morning everybody. 11:00 in the east. here is what is new. at this hour. a tribute to law enforcement officers on display at dartmouth college torn down and replaced with black lines matter sides. more liberal aggression on campus. discussing reports facebook hides new stories. later this speak to the man who invited and declined the invitation. or to minutes from now. you don't hear this every day. a gun properly. the right to buy and sell firearms as well as possess them. judge napolitano will deal with that. first a look at the big board. coming back a little. now we are down 35. home depot is a drag on the dow.
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earlier this company with a real retail winner. now if that's $2 lower at 133. children's place is a retail winter. that report this morning. $4.72. where we this morning? 4822. that is almost the highest level at this reach so far this calendar year 2016. special guest on the subject with us today. former goldman sachs partner, peter kiernan a very heavy hitter. >> people pay good money. >> i'll see you later. drink do you say the developments in saudi arabia are what is the fact in the oil market and the stock market appeared explained. >> yeah, first of all a tight connection between the price of oil in the stock market. he said the markets go through where they get fixated on one thing. right now it is the price of oil.
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what goes on in saudi arabia is they intend to remain king of the jungle. they make one out of every barrel of oil produced and producing market share. they don't find oil prices have come down. for those producers in the united states, you want to play, let's play test. >> that is still the underlying factor. nigeria's oil production fires in canada. the underlying reason the price of oil at the 40th of saudi arabia's production. >> yes, there have been disruptions that are temporary. if you look at the long-term, we've got to see a point where oil supply in oil demand me. right now there is more oil than we need. stuart: tell me about venezuela. my analysis is basically they're running out of other people's money. they are very close to collapse. it is the failure of socialism, but we hear that china is coming through to give them some money
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in return for some of their oil. but yo session marked >> frankly when you're number one financier gives you another extension, they are into to invest $50 billion in the last 10 years in venezuela. if you look at venezuela, it has the four ugliest yet last year everything negative 6% gdp. it has inflation of 180% a year. it has shortages of everything including reports of children dying in hospitals. there are factories because they don't have raw materials and then cope with continuation of low-priced oil. one hundred dollars a barrel is the land of milk and honey. misses one of those countries that was basically run at the welfare state and they said nothing for the rainy day. folks, it's pouring rain outside. stuart: you can see it coming a mile off. america will be asked for humanitarian aid at the very least. should we give it?
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>> these people are in enormous pain and you can blame the people of venezuela for what i think is egregiously bad leadership that goes back literally to the legacy of chavez. this nation has not gone to the imf for at least a decade. there are many in the tuition designed by the world to help countries in distress. so far venezuela has no interest in working with them. stuart: but they want our money. >> yes. one of the things that will happen is when you exhaust, there's only so many times that beijing will bail out caracas. we are approaching that right now. stuart: take a live look at capitol hill looking at the house oversight committee which is holding a hearing on the iran nuke leer deal. white house security adviser and wrote did not show up. he was asked to appear, he did not appear. give me the big picture here. you say that the iran deal with a bait and switch tack tick.
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>> there's no question about this. there was an urge to bring iran into the international community. the sanctions are such that here's the dilemma. you go to a european bank as john kerry did recently to say leading thinkers in europe, not to worry. legitimate business is fine by me. they are saying help me with this. we have been fined $15 billion in the last five years for dealing with iran. the reassuring of the secretary of state is a long way from a true license. what are we about to do? here's the problem if you look at iran. if it involves shipping oil, no one is interested in. but gabrielle. the fact is the only way iran is coming back is to basically deal in dollars but i believe will happen is european banks -- every time they wade in to get
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their hands locked in the u.s. is not between one voice. just in february, the u.s. treasury was saying these are no sponsors of terror. their big money laundering problems and now i'm european bank executive. stuart: that the mass. >> is a huge mass and is 100% predictable. you say you can get back into business. what are you thinking? in 1974, iran was producing $4 million of oil a day. then as now is conducted in dollars. but we have to do is see some noise about creating a warehouse. looks like a bank, acts like a bank. you put the money in and somebody comes and takes it on doesn't it not a big but we exchanged dollars. the only way around this. her husband will be the solution. stuart: let me talk politics at home. you must be watching "varney & company" because we have been saying this for months.
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bernie sanders is pushing hillary clinton to the left, to the left and out of her comfort zone. i believe that's your point of view, too. >> in fact, everybody watches "varney." here's the dilemma that hillary faces. she and her husband have a long legacy of comfortable dealings with wall street active and bob rubin was secretary of state, secretary of treasury. now hillary is trying to pretend we are not that close to wall street. we will be tough on wall street. she was u.s. senator from new york, it was a hometown senator and hometown business. suddenly she's been pulled so where is true north as it relates to wall street? no one really knows. this signal is she's outpolling everyone else by far in donations vaccinia syndication date inc. she will drift back. the problem is everybody knows, including bill clinton who did it himself, the path to the white house lies in the center
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and she's been told by elizabeth warren hear she's been pulled by burning and he will run until the last dog dies. chela status in the convention. he wants his platform and hillary will have two face that site and leaving the opportunity for donald trump to take the center if he would only do it a pastor to white house. stuart: senior partner -- >> i was a partner at goldman sachs. >> is one of the workings. stuart: you are the author of the book american mojo. thank you. you can come back. thank you so much. stuart: do this hour, donald trump firing back at britain's prime minister colin trump's proposal to pause muslim immigration into america. here is donald trump's response.
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watch this. >> looks like we're not going to have a very good relationship. it sounds like he is not willing to address the problem either. stuart: joining us now a senior press representative for donald trump. how come you are in the site with the prime minister of great britain? what is going on here? >> i wouldn't call it a fight. mr. trotter's aunt is accurate. we have got to control our borders and would have been a nice post-9/11 world. that is a game changer. we need to tighten up our immigration and build a wall to preserve our national security interests. stuart: i believe the new mayor of london who was a muslim himself, he wants to come to new york to teach donald trump a few things about the realities of muslim life. what you say to that? >> well, i don't think that the discussion here is about the
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actual religion as being a muslim. i think it is about the national security act of what is going on in our world and if you compare what is happening in europe to america, therefore mr. trump is addressing that as an issue right here at home. stuart: would you invite the mayor of london to new york or washington d.c. if trump becomes president? >> i'm sorry, say that again, please. stuart: sure, i will spell it out. would mr. trump is president and by batman on the screen, the mayor of london, a muslim, would he invite him to washington d.c. if he wins the white house? >> i can't speak for mr. trump in terms of whether he would invite him or not. that would be his decision to make. i can't speculate on that. stuart: what do you think you would do? >> again, i can make a speculation on that. mr. trump will do it. he decides it needs to be done. stuart: i do want to get your thoughts on nancy pelosi.
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here's the quote. here's what she said. donald trump is not going to be the president of the united states. take it to the bank. i guarantee it. would you speculate on mr. trump's reaction to that? >> i think generally, you know, my reaction to that is the american people has spoken a not the sovereignty of america. they've come out in historic numbers to vote for mr. trump. he is the nominee and will pave the path to the white house to make america great again and he will become the president in november. stuart: you are unifying the party of ron donald trump. can you say that? >> absolutely. we are definitely unifying the party. that should be the goal. we should keep our eye on the price to defeat hillary clinton in november and make sure the clintons never returned to the white house ever again. stuart: speculate this for me. are you going to win in november? is it a landslide in november? come on, speculate.
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stuart: it is going to be huge. we are going to win big in november. stuart: you did not disappoint. thank you for joining us. we appreciate it. >> thanks for having me. stuart: america at war all eight years of the obama administration. first time in u.s. history. general jack keane is that this next year tell us what he thinks president obama's biggest mistake has been. a congressman says iraq classified report on the sailors captured by iran and how they would treat it. he says the treatment to the sailors would shock the nation. remember john kerry thinks the iranians for how well they treated our troops. we will deal with this in a moment. >> i also want to thank the iranian authorities for their cooperation in quick response.
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stuart: retail stocks, retail companies in the news recently. i wanted them are hitting multiyear lows. here we are calling this the retail ice age cometh certainly for the big-name department stores. they've got office depot, the buckle, big five sporting goods, i'll grant that owns victoria's secret and bath and body works. red arrows all across the board. >> retail sales were up year-over-year. we now spending two thirds of the economy, if you see retail travel like that to ashes find that the fed may not raise rates, putting consumer spending and gdp flat line. stuart: office depot is down 8% at $3 a share. liz: home depot is down in the shares today in the good earnings. stuart: the obama administration killed the deal between office depot and the stock is disintegrating. now this, american troops are
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back fighting in iraq and they are still in afghanistan under the obama team. america has been at war for eight long years, longer than any other administration. joining us now is general jack keane. general, you say president obama has made some mistake here, mistake of policy and that's why we are at war for eight years? >> yeah, absolutely. president obama looks at the role of the united states is very different than all of his predecessors from world war ii to the present who saw the united states as a global leader hoping to lead accomplished lobo security leading to economic prosperity. president obama has pulled the united states back in the traditional role and is busy mistake as a wartime president is the fact that he promised to end the wars in iraq and afghanistan, the so-called bush middle east wars. his policy decisions ironically actually glad to the continuance in the extension of those wars.
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that is what is so dramatic about this thing. in iraq he pulled our out in 2011 and we got isis as a result of it. we are back in their three years later fighting an enemy that has its roots in iraq that would've never have given rise to a fair counterterrorism forces were there and intelligence as they are. isis would've never been able to develop in the organization it is today. in afghanistan, policies and the crystalline petraeus, two competent generals presented obama a plan to defeat the taliban. they gave him the minimum amount of troops to require the object is. he cut it by 25% of pulled the troops out one year later over their objections. that absolutely doomed us in terms of defeating the taliban because we were never able to complete the campaign plan. and then he pulled back our troops in 2014 from combat operations entirely and reduce them to the low number they are
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today and as a result, the taliban and now occupied more territory and afghanistan than anytime since 2001 when bush committed the united states invade the country. that is what is happening. what president obama has not learnt that other presidents have is that at times, strength is the only path to peace. he's never accepted that. stuart: we are going to be fighting in iraq and afghan and probably way into the next presidency. >> absolutely. the war in afghanistan will continue for a number of years. we actually need to increase our troop levels there to assist the iraqi army. in iraq is love, the afghan army and afghanistan. and iraq is now, we have no plans right now in the administration to defeat a says in iraq and in syria prior to the end of the administration.
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i would suspect stuart a new president very early on will look to the pentagon and say what are the options to defeat a says? give me some options to do this as quickly and reasonably as possible. i think we'll see a dramatic change in strategy as a result. stuart: next story. congressman randy "forbes" is a republican from virginia. he says he has read a classified report on those u.s. sailors who were captured by iran. he has read it. he says that the report were ever released, it would shock the nation. would you make of this, general? >> well, i'm not surprised by it. we don't know so we can only speculate further embarrassment and humiliation of our troops under the thumb of the iranian. i'm certain they were threatening them rather significantly. this is an operation the united states not very proud of. why were they there at the
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beginning was long distances in the most volatile piece of water in the world to satisfy the navy is beginning to hold leaders accountable for what to place. let's face the facts, though. the way secretary kerry behaved at the moment of their capture and at the moment of their release as if the only reason this happened, their release was because of the new relationship that we have with the iranian is beyond absurdity. the harsh reality is iranians have not changed their stripes one day. they are firing a list of missiles on a regular basis that they want to wet the nicest nuclear weapons. they clearly are not going to read here i think to the nuclear deal. they are already telling us that there at actives are unchanged to dominate and control the middle east and to think we have an improved relationship with the iranians given their behavior since the nuclear deal
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was signed as delusional. stuart: let's sum it up here it up. what a mess. general jack keane, always appreciated. >> at talking, stuart. stuart: donald trump is treated not hillary's plan to the bill in charge of the economy. ashley: we wondered whether he would respond. here it is. how can "crooked hillary" put her husband in charge when he was responsible for nafta, the worst economic deal in u.s. history? liz: i don't know how hillary is going to respond to that. he is dating her to respond to the term "crooked hillary." that will be something for trump if hillary even falls for it. that's the question. >> by the way, another breaking story i should say. this is politics. more politics from pope francis. >> a couple things.
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sporting democracy to iraq. >> into libya. he's saying you cannot basically put a democracy on top of tribal cultures. he has a very dead view of the people there because we do know that people in afghanistan in the middle please come in libya, not talking militants. we were people who do want democracy, you do want to go. he is saying also that europe should better integrate migrants and praised the election of the new muslim marathon and as an example of where this has been successful. stuart: europe should better introduce an integrate muslims into europe. >> that is correct. london is an example of that. stuart: moving on. >> we said it all. more liberal aggression on campus. a blue lights monitor display dark college that's a debate
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tribute when it was torn down and it was replaced with black lives matter science. that is what we are looking at now. trained for years the issue. how did the administration respond? the blacklist display last fall was vandalized. dartmouth was one up rapidly. it took been too long to respond to this. in other words, -- stuart: hold on. there have been some black lives matter that were vandalized in the past. >> correct. the administration was bonded. they start coming in now, back in the fall they said that is wrong. you should not behave that way. they dragged their feet on what happened with the display supporting law enforcement. they didn't respond rapidly to the law-enforcement display being vandalized and replaced a black lives matter poster. stuart: at the question of how long they waited to respond.
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>> a respond quicker to the black lives matter complained. mark zuckerburg, the guy who founded facebook, principal shareholder inviting conservatives to discuss the report the news stories up in facebook. in just a few minutes will speak to the man who was invited to the meeting but declined information. why doesn't he want to go? you don't hear this everyday. a pro-gun court ruling has wrote the second amendment includes the right to buy no firearms. new laws loosening penalties on shoplifters in california. we reported this earlier. spike in property damage. the judge andrew napolitano will join us on not. >> omit the misguided starrett liberals in the california legislature can understand the cause and effect here that when you normalize criminal behaviors, you are going to get more of it. when you punish criminal
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behavior, you are going to get less of it. since prop 47 a year and a half ago has come to existence, we seen an increase in the 10 largest cities in california by 10%.
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stuart: we were down 80. now we are down 76.
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an up-and-down day in a narrow range. home depot is the biggest track for the dow industrials. it is down nearly 2%. you don't hear this everyday. a pro-gun court ruling in california. here's the story. three businessmen wanted to open up a gunshot in the bay area. they were denied, they sued and i judge that the lawsuit could go forward. he says the second amendment includes the right to buy an all firearms as well. all rights, judge napolitano is here. stuart: here's would have been. three businessmen with experience in selling guns lawfully wanted to open up a shop in the bay area, the matcher politan area of new york city -- san francisco. the town in which they had rented they said no. the reason is we think guns bring crime. no statistics, just those opinions. they sued in a federal district
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court in the federal district court judge dismissed their suit and said the town can decide what business they one in town. last night united states court of appeals for the ninth circuit, which covers the 15 westernmost states of the united states is the most liberal of the 12 circuit courts of appeals and the country came down with a decidedly pro-gun ruling that says this. the second amendment is not -- does not protect a second-class right. it protects a first-class primary right, the right to keep and bear arms. if you cannot buy a gun, if you can't get a gun, that is not adequate protection of the right. stuart: i am shocked. it's california. >> it is california. it is notoriously the most liberal appeals court. as the court right below the supreme court. 12 of them throughout the united states based on geography in the country.
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but it has changed decidedly on guns. the supreme court came down with heller. you can keep the arms in their house in a similar case that fed the same thing. the ninth circuit has said in a state of california, which made it very difficult for you to buy and keep the gun throughout this registration requirement that imposed by the liberal at of governor brown and his father. and now this. stuart: are you a shot as i am? >> yes, i am. this goes back to the trial court for a trial, but the town is going to have to show statistically there are reasons for not wanting it. they can show it because statistics are the other way. where they're smart guys, less crime. i know we will talk about a california crime story in a minute. if it did, there'd be a lot less crimes about to discuss. >> to change the light 18 months ago.
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if you steal an item from a store less than $950, that is now a misdemeanor. more than $950 is a crime and not sure. but it is a misdemeanor under 950. the result has been a spike in property crime and theft. >> is no surprise. one way to look at this this is the people who propose this. it's not legislation. it was done at the ballot. california is one of the few states that let the voters write the law when the legislature doesn't write it. basically one of the motivating factors for california prisons are grossly overcrowded, they are horribly mismanaged because there are people in there that don't belong there. that's one of the arguments. another argument is this is basically shifting resources from the government to the shop owner. you can hire your own off-duty cop to arrest these people rather than waiting for the government to come there.
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i believe with sheriff clark from whom you ran a clip for the commercial break. you want to see more of an activity, encourage or make it no longer criminal. i don't know how they could think doing this would result in less shop tasting. stuart: maybe they didn't. it decreased. >> i'm not in favor of putting petty shoplifters in prison, but i'm also not in favor of laws that encourage this. don't worry, as long as you return if we are not going to punish you. if you still $100,000 in the bank, you would still be prosecuted. the law thursday in a few greater return this or the fair market value we won't prosecute you. that is not going to stop the action because people always think they can get away with this stuff. stuart: if you lose $100 a pitcher in prison. if you lose 100 million they make you attain.
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>> i wonder what country that would be. not talking about charles the third. stuart: enough already. we will see you tomorrow. >> i hope so. stuart: thank you very much. they spoke still turn out conservative news stories. mark zuckerburg will meet with conservative commentators to discuss this issue. my next guest declined the invitation to that meeting. american conservative union chairman. why would you not go to a meeting like this? >> because i've are to have this meeting. i went to facebook get my team and i went to talk to facebook while before our annual cpac conference which is the largest conservative convention of the calendar year. we as facebook. but that could get you more involved. teach us how to use facebook better. help us understand how we can
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get our message out better. they never helped us. they declined to come to the event. they refuse to play a meaningful role. ird heard about halliburton by organization is to them. what do i find out later? i find out through these articles do find out today's article is that what has been happening and whistleblowers thursday not only would they not attend and help the conference, they would depress the conservative statements coming out of the conference. at least that is what is alleged. i don't need to have another meeting where they tell me they don't need to work with us. stuart: i think facebook is wanting more to his overseas users than to american new says. a billion people use it every single day. most of those people are overseas. i think zuckerburg is filtering the information that gets to the people because it isn't like trump and he doesn't like conservative ideas. he thinks foreigners don't like trump or don't like conservative ideas that i don't think the man
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is going to change at all. >> that is what i was worried about. first of all, they start with an apology and second of all they need to have 100% transparency not only with the american conservative union, but of the millions of conservatives to give space to 7100% transparency on formulas and algorithms that use. as they filter through things, there are winners and losers and it appears from whistleblowers conservatives are the losers. i don't want to get nothing wrong and they are private business they can do whatever they want. you have to be honest and tell your customer what you're doing. stuart: we hear you. much love, thank you are joining us. thanks very much indeed, sir. check the big word now. we are still in a narrow trading range. now we are down 63 points.
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we have been down 30, down 80, now we are down 63, right in the middle basically. we are down, i think i am saying -- stuart: we stand industrial production pickup over the highest rate and put these things together on the market believes the likelihood of the rate hike by the end of the year is growing all the time. a high probability. we have ways, the map app owned by google is testing a new car pooling service entrances -- san francisco. more on that in a moment. a lot of people questioning the state of journalism. end quote i'm happy in my story in a moment.
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>> grande nicole petallides whate'er fox business brief paper dow jones industrial average after 175-point gain yesterday is down 17,650 with the loss of 131%. s&p downside, nasdaq down nine. speaking of which, look at some of the retail hitting multiyear lows. he continues to plummet today.
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all of the pit lows. macy's, nordstrom's, gap. looking at t.j. maxx, that is to the upside after a hike of better than expected. energy is 1% winning today as oil has been hovering around these highs. [inaudible]
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stuart: series of stories on the waves. testing a car pooling service in san francisco. ashley: it is not actually taking uber on headfirst. it is getting commuters together to share the cost of a right to work. it is only on an invitation companies and customers only available to use this on an invitation-only by the carpool app. it is very limited. it's not really a big moneymaker. it's just simply to get cars off the roads because traffic is crippling and they figure this is a way of getting more people to carpool and pay for the cost of the wear and tear. stuart: almost every driver i have known users have one. ashley: it is very detailed. it has great information. a very handy tool. stuart: a good competitor to
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uber. ashley: it will take people away, so you could put it like that. it is not a huge money spent in operation for google yet. stuart: politics. the fallout continues from the trump viewed. if you'd, by the way, the state of journalism. ed kline is with us now, author of unlikable, which refers to hillary clinton. you follow the trump campaign. why is based those doing this? he has formed a team, this hit squad to go after trump. why is he doing not to the washington po? >> when i was editor-in-chief, my boss, abe rosenthal had a fading. he said i don't care if you sleep with an elephant. just as long as you don't cover the surface. just based those is covering the circus. here is the guy whose the 19th richest man in the world. his company is worth $230 billion.
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he's got a ton in front of the government. problems. he donates 90% of his money to democrats. he should not be covering the circus. he should not on the "washington post." stuart: but he is doing it. baby to get himself some protection from this administration. >> is the hometown newspaper. everybody read there. now he's going after donald trump. all the democrats love god. i think it is self protection. stuart: bob woodward, the watergate type, if he organized in his 20 man team? >> is associate editor at the post. he has a bigger position there than that title. he is sort of like semi-god because of his coverage of watergate 30, 40 years ago. he is part of the 20 person team that is covering donald trump, trying to unearth every detail about trump.
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when asked how many people you are putting on hillary, he said the numbers don't matter. but the numbers matter when it comes to trump, 20. but it is the quality of the people. stuart: clearly, the washington post for jeff besos has taken aim at donald trump. that is their position the rest of the election cycle. >> band and "the new york times" as well. stuart: the two of them have teamed up. what you think of that? i call it a hit job. and "the sunday times." >> 5800 words. it went after the relationship to women. frankly i thought it would fall to five. >> i have been with donald on his campaign. i've been with new york. truth be told, yes we do talk about women when we get together, he and i. men do that. i have never heard him say
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anything terrible about a woman in all the years i've known him. stuart: in the article he emerged as a man who was forward with women. he likes women. he's rich and powerful and he likes women and wants women. >> the first woman interviewed by "the new york times," roxanne brower in land was interviewed later ron about her quote to the near times. i never meant he did anything demeaning to me. they misquoted her. trained to do think that makes trump look better? who is designed to poor model of the guy. i don't think it worked. stuart: this is very good for trump in many ways. when i traveled with trump to indiana and he would bring up the media in front of these audiences, booze, they hate the media. you've never heard anything like
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it. stuart: for 10 years to the editor editor of "the new york times" magazine. >> those were the days when that newspaper was different. in fact, on abe rosenthal's tombstone, it says i kept the paper straight. and he did keep the paper straight. when he left, that is in the paper started moving over to the left. stuart: is that right? i thought it was a timeless phenomenon that it's always been left. >> not when i was there. stuart: you know what you're talking about. ed kline, thank you indeed. there was another divide among democrats. this time it is unions versus greenies. a fight over climate change, money and jobs. we've got the story for you in a moment. i'm definitely able to see savings
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so you never have to wait to file an accident claim. switch to liberty mutual and you could save up to $509. call liberty mutual for a free quote today at see car insurance in a whole new light. liberty mutual insurance. stuart: here it is on the front page of "the new york times," right out in the open. another democrat split. white-collar greens versus blue-collar unions. this is not good news for hillary. in fact, on top of the make a split between her and bernie, it is a disaster in the making. here's the story. tom stayer is the headphones manager and climate change warrior. wealthy guy. he started a get out the vote
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fund for the democrats. two big unions are not on board. in fact, they are downright hostile. tom stayer kates fossil fuels. no pipelines, no coal mines, no phrack income and the refineries. no union construction jobs. the top guy at the laborers union says the labor movement, quote, has been sold out to a job killing hedge fund manager with a bag of cash. he says the democrats have betrayed their union supporters. this is a split, a profound split. the unions want jobs, and the greens like climate. e. hillary has to make the call. whose side is she on? in fact, she has already made the call. she's admitted to killing whole jobs and has accused the keystone pipeline. she is all in the greens. it's hard to see how blue-collar union members can stay with democrats. why should their money show their jobs?
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sure looks like a political realignment, doesn't it? especially when donald trump runs on a platform of good jobs and growth. look who is here. ed for salé, top florida republican who just heard but i just had to say. feel free to criticize me because maybe i just want to a little overboard. a profound split. >> you didn't go overboard enough. it illustrates that she is the establishment candidate with the help of the dnc and antiestablishment year. this was essentially sign out american workers for cash. that's what it comes down to. what you have even after all the yelling and screaming by the left about citizens united, this is as hypocritical as possible. this is keystone jobs, keystone jobs sold out to the greens. american labor is revolting. this is an opportunity for donald trump. stuart: it's an opportunity to
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take the group of people formerly known as reagan democrats. union guys who want good, well-paid jobs in ideology on the side. this is an opportunity. >> is a big opportunity. we saw how many democrats went to go. when polled for voting for trump in the general election. west virginia is clearly to trump. more important, ohio is probably landing to trump for this very reason and one that they're really change the equation. pennsylvania is in play for the first time in some 20 years. stuart: you know, things have changed in the last couple months. you go back say two months ago and say it is trump versus hillary. most people would say hillary is going to win this thing. some say she will win hands down. i suspect that has been reversed. i see a lot of people saying i think trump is going to win. >> we will see.
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i think donald trump has an opportunity to flip the tables on her. she is such a weak and flawed candidate. there's so much we can talk about for hours. use this as an opportunity for stuart: rebuild the coalition with the american worker. stuart: are you on board with trump yet? you are jeb bush guy. >> i was. i'm also a delegate. let me put it this way. those people who are never trump are really for hillary and i would suggest they get on board. stuart: argued for quorum for trump or you getting gung ho? >> i am getting gung ho. this election is way too important to leave it in the hands of hillary clinton. this is way too important. i have my reservations about donald trump, just like everyone of the candidates running. but the direction and policy and the establishment, people were upset and people are upset on the left and the right. see the rise of bernie sanders, the breadth of donald trump. common sense like washington long ago.
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keystone was a good example of that. the american labor without jobs, what was obviously something that would've created jobs at that point. president obama sold them out. >> i take it you would like trump to tone it down. >> i would like trump to talk about -- so everyone understands. stuart: i cut you off midsentence. i've got another 10 seconds to go. >> lord is going to be in play. will make sure florida goes strongest way. stuart: we shall see. ed pozzoli, florida republican. the dow industrial down 40 points. that is it. more "varney" after this.
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.. stuart: most interesting story today. ashley: venezuela. classic story of what happens when you have a socialist government to take all the money and spend it. it is going to be destroyed.
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stuart: a big test tomorrow, congressman randy forbes, republican from virginia. he was seen in those classified documents about a ran's treatment, if we see it, it will shock the nation, 9:00 tomorrow morning. it is yours. ashley: thank you very much. stocks selling off right here. bear with me. day by day, the latest fear that the federal reserve is back, buoyed by strong data on everything from industrial production, home construction, housing starts, short-term treasuries which are a good barometer out of the market, they have been rising, the yield has been rising on expectation that interest rates are going to follow them and maybe home depot and what we have been seeing out of the retail arena including

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