tv Varney Company FOX Business August 11, 2016 9:00am-12:01pm EDT
he's buying out the stake from legg mason that he runs. we'll talk with him. and anthony, cheryl, shelby, good to see you. same time, same place tomorrow. we'll handicap it for you. "varney & company" begins right now, stuart, over to you. stuart: thank you very much indeed. so what do we really want? to be more like democratic socialist europe? or pro growth america? hillary clinton or donald trump? that is a fairly clear choice, good morning, everyone. a few hours from now, hillary clinton will reveal her plan for the economy. the broad outline is clear, taxes will go up. spending will go up. she hopes the number of jobs will go up. you'll probably hear the words fair share. a clinton presidency would be a third term of redistribution, that's europe. we've already heard from donald trump. he's going for growth, economic growth, cut taxes, cut regulation, energy independence, renegotiate trade deals. that's donald trump's america.
very different from hillary clinton's european vision. now, so far, this has not been the focus of this election. it's been all about trump gaffes, a profoundly anti-trump media and hillary clinton staying quiet and letting trump hurt himself. you know, that really ought to change. what's at stake here is america's future. on today's program, we'll take you live to a trump speech to home builders in miami and expect to hear more about his plan for growth and we'll set the stage for hillary clinton's speech in michigan. democratic socialism coming to america. big show, "varney & company" is about to begin. ♪ >> a thursday morning, where are we going on this market? we are going up. not bad in the early going. dow, s&p, nasdaq, all of them going to go up when that bell rings, 28 1/2 minutes from now.
now, how about oil? we have more oil in storage than we thought. that report came out yesterday, sent oil down to the $41 per barrel level. dead flat at the moment. still at $41. the price of gas. $2.13, that's the average for regular nationwide. i've got to tell you, only 12 states now are two bucks or less. we would like that to be far more states, would we not? >> how about macy's? here is the story there. they're going to go up at the opening bell. why? better profit and they're going to close 100 stores, 100 macy's are going. big deal. higher profits at kohl's, why? they say it's the warmer weather that could produce better sales and that stock, another retailer, going up significantly at the opening bell. how about alibaba? china's amazon, that's what we call it. more people are using it, sales are up. that, too, will be a nice pop at the opening bell. now, that's an on-line
retailer, but, it, too, is going to go up. now, this, hillary clinton will layout her economic plan in michigan this afternoon and ashley webster is here with details. ashley: yes, i am. let's get to it, stu. democratic as you call it. stuart: it is. ashley: a clear difference between mrs. clinton and mr. trump. let's start with the line you'll hear a lot, large investment and good paying jobs, the largest since world war ii, says mrs. clinton, here we go. tuition-free college for middle class and debt-free college for all, isn't that wonderful? and workers share in the profits that they create, also making the wealthy, wall street, and big corporations pay their fair share. fair share. ashley: there is that line. reforming outdated laws to match how families live, learn and work in today's economy, whatever the heck that is. stuart: you know, we don't have the right accent to say fair share properly. ashley: fair share. stuart: it just doesn't work. now, look at this, this is hillary clinton, she tweeted
out a comparative of her plan and trump's plan. here is the tweet. actually. young americans have the most to gain from hillary's economic plan and the most to lose under trump's policies. hillary creates 10.4 million jobs in her first term alone. trump would lose almost 3.5 million jobs. look to is here sam clovis, trump international co-chair. that's from hillary clinton, she would create 10 million jobs in the first term and trump would lose 3 1/2 million. your response, please? >> i can't say it on the air. stuart: oh. >> there are a couple of words that we use out in iowa for this and it's what you kind in the corral and normally in a cattle feed lot. but that's what i would say about it. i don't know what her math is, i don't know where she got her math on this. it just doesn't add up. i mean, you take a look at all the-- we don't need to drill down too
far to figure this out. nonsense, how does she come up with that. stuart: isn't this the perfect moment, sam, for you guys, the trump campaign to pivot away from the distractions of donald trump's off the cuff remarks and back to the nitty-gritty? after all, isn't this what the election should be all about, where are we going? how do we get back to prosperity? isn't that what it's all about? >> i couldn't agree more. i think that it's always about the economy. and it's about national security and the two are tied directly together. and all you have to do is take a look at the math. if you have the growth, she's not going to have gdp growth. she's headed us to a depression. it's all right there for us to look at. when you tax that much, you spend that much, you go into debt that much, you are imperiling the very system that this country is based on and that's a free market system. where we're looking at, the
ability to grow and grow, i think, we can get to 4% for at least ten years. and that is kind of my estimate and what i've been looking at and what our advisors have said. stuart: you mean 4% growth each and every year for a decade, that's huge, that's a promise. >> i think we can get there, i think we can get there. stuart: what will mr. trump be talking about today in miami? he's addressing, i think it's the national association of home builders, what's on his script for today? >> i think you're going to hear very much about the fact we want to make sure that money is available, but we also want to have prudent lending. our financial institutions need to be secure. americans need to be secure in their investments, this is one of the things that's changed over the last 70 years in this country, where we've moved our wealth from banks into homes and if you take a look at some of the statistics, we've looked at, we have a lot of negative wealth in this country today and i think that home ownership is one of those areas where we can improve that and that's
what he's going to be talking to the builders about. >> okay, sam, we'll actually be taking parts of that speech later on in the day today. sam clovis, appreciate it. thank you. >> thanks, stuart, see you later. stuart: i've got a developing story, newly released e-mails reveal the relationship between the state department and the clinton foundation, important, the clinton foundation. there are allegations of pay to play, getting special favors. reporters questioned the state department about those e-mails yesterday. roll that tape. >> can you tell us why the state department redacted that name and whether or not this person wound up getting a job or not? >> okay. well i can't speak to the specific case. we don't feel like there's impropriety in the relationship between the clinton foundation and the state department. >> we talk to a wide range. >> has the department looked into this and determined there
was no impropriety. >> the department is regularly in touch with people across the whole sector. >> i'm sorry, am i not speaking english? the question is whether or not you've determined there was nothing improper here. stuart: oh, oh. am i not speaking english? very, very good english. >> thank you, stuart. stuart: that, the e-mails related to the clinton foundation, now, that's a story that is beginning to blow up. it's on the front page of the new york times this morning. >> times, no less, exactly. and aggressive pushback of that questioning i think was telling as well and also, the reporter kind of gave her a canned answer, which was tell us, did you look into it and find indeed there is no impropriety and she couldn't answer that and that's a problem because thisa problem, stuart, that was anticipated when hillary clinton walked into the state department. she actually had to sign a pledge that said she would make an oath, a promise, to the best of her ability keep those
things separate. the clinton's global charitable foundation and her dealings as secretary of state and these e-mails at the very least, they don't look separate. it looks like a lot of people were pulling double duty between the clinton foundation and the state department and that at least appears, legally speaking, to be impropriety. stuart: and from the new york times, headline, fears of new release of embarrassing data. >> embarrassing, i think is kind. i think it could be incredibly problem-- ethically, this is a serious problem for hillary clinton and the state department. stuart: she has to explain what she did or what the foundation did for all of those hundreds of millions of dollars coming into the fund. there's $100 million from persian gulf sheikdom. ashley: the probably is there's no smoking gun. it's probably in there, but connecting the dots is difficult. the impression, something smells rotten is denmark, that's the situation.
finding a direct link to establish pay to play. stuart: so far the media has not really picked up on it. ashley: i feel a feeling they are. >> a wide range of questions, like you said, the new york times, ap, i mean, this is not just, you know, kind of cherry picking in terms of media, broad spectrum interest in this. stuart: is it possible that this particular scandal will overshadow her economic news today? probably not. [laughter] listen to this, a man who wanted an audience with donald trump tried to scale the all-glass facade of trump tower in new york city, using suction cups. he reached the 26th floor before he was pull inside by police officer who removed a section of the glass window and rehed out and grabbed him. the crowd cheers. this is a real story and new yorkers were gripped by this. passersby and huge amount of people watching.
the traffic came to a stand still and anybody near a television set all across america and around the world were watching. >> i was on the train going home about 5:30, i had it on my phone and looked around and everyone else on the train was watching it, too. they were fascinated. stuart: and the world has become a vast reality show. >> are you kidding? the best was the social media meme, you know the suction cup therapy michael phelps has been getting? they showed him on michael phelps' back. ashley: break out a lot of glass to snag him. stuart: now how many new yorkers are angry about this? did you see the traffic out there? >> absolute hey -- mayhem. stuart: not that the rest of the world cares about the traffic in manhattan.
and apple, late reports say the new iphone is coming next month. september 7th to be precise. the stock will move a fraction higher at opening bell. now, some video for you. the pittsburgh pirates at a game, a guy jumps to catch a fly ball and spills a plate of nachos straight onto his face, and ketchup. ashley: oh. stuart: the ticker is, he did not catch the ball. china, important story, now requiring all u.s. imports, all of them, to be certified mosquito-free. the chinese say they're worried about the zika virus spreading. that's an excuse, in my opinion, an excuse to put up a trade barrier tweaking mr. obama. >> and russia moving to the border, russia accusing ukraine of incursions into crimea.
>> chip shack, kind of like that. gave an upbeat forecast. sales were down and the stocks would take a hitment -- hit. ammunition people make a lot of products as well. the stock has been rising, but not today. it's going to go down about 7 or 8%. canada, someone associated with isis killed after police stopped a suicide bomb plot. ashley: this is the man arrested last year after announcing his support of isis over twitter. he was eventually released and he converted to be a muslim, as you can see, that was him coming out of court last year. he was given an electronic monitoring device and wasn't allowed to get on internet, but there was a tip to police that
this guy was planning a suicide bombing in a public place and they raided the home. he was there and he detonated one of those twices and injuring himself and another person in the room. police tried to move in and he threatened to detonate another device, that's when they shot and killed him. stuart: a terrible story and sad, too. russia has accused ukraine of trying to carry out armed assaults in crimea. and vladimir putin says they're plotting attacks on russian territory. a former u.s. ambassador to belgium. mr. ambassador, this sounds ominous, borders are shifting, military vehicles on the move. do you think that putin is tweaking mr. obama right before the election? >> well, stuart, you said the world is a reality show and mr. putin's one of the leading players in that reality show, but the problem is no one is sure where this reality show ends up, and even if anyone can control it. so, i do think putin is
tweaking several things, first, at the beginning of september, was supposed to be the peace talks, france, germany, he's just torpedoed those and how far he can reach with the u.s. and limbo in the election and europe, some stability between terrorism and brexit. stuart: if he did something, something aggressive with his military in ukraine, would that help donald trump or hurt donald trump? because we've had this-- the trump-putin relationship talk. >> you know, with the bro fest going on between trump and putin, maybe trump just calls his buddy and says vladdy, can you knock it off and become a hero. my sense is most of the serious thinkers believe this talk is damaging and this is real live about ukraine and the world. stuart: do you think something is going on and something's going to happen, do you think? >> i fear ultimately there are
outsider who could try to play a role in this election, we saw it with the cyber issues and between now and november, i will breathe easier if november passes and there is no interference. stuart: would you say we're being played, three months to the ewilkes we're played by putin? >> he may be attempting to play us. barack obama is a hard guy to play, and the u.s. military, but that won't stop vladimir putin from trying to play. stuart: thank you, on a forgotten story. >> thank you. stuart: look at wendy's fast food guys, you know that. listen to this, the ceo of that company blames weak sales on the uncertainty surrounding the election. we will bring you more on this. ashley: it's trump's fault. stuart: how on earth fewer hamburgers are sold-- we'll get to it, i promise you. the drug enforcement agency reportedly mining american's
travel plans and information. trying to profile drug dealers. when they get the information, they use it to seize the suspected drug dealer's money and just take it. is that legal? judge napolitano will answer that question. home prices, yeah, they're rising, but the middle class is getting squeezed out of the housing recovery, it's right there on the front page of the wall street journal. details next. [ clock ticking ]
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>> the price of oil is up today. 41-89. alibaba we call it china's amazon. sales are up and that stock is going to part for the opening bell as well. it's going up. the housing recovery, apparently leaving out a large portion of the middle class, they've got too much debt and regulation, hard to get a loan. the middle is in decline. eboni kay williams, that's obama's economy, the middle class. >> it's hitting me personally. this is my peer group. we are employed, we're earning decent change, but we're burdened by the student loan debt, the credit standards are almost i am possibly high for us with the student loans taken into account and housing prices are rising. affordable housing for a first time home owner, especially in some of the urban cities, it's next to impossible.
stuart: will hillary clinton solve the student loan problem by making it debt-free college. >> it's hard for me to make that argument. first of all, the incumbent ideology and economic theory. that's why bernie sanders and donald trump did incredibly well in a large portion of the primary, they represented opportunity and change. the hillary kind of represents the old school, old guard status quo and hard for new people trying to break into the housing market to get in. stuart: it's an astonishing reversal, hillary clinton represents the status quo. >> she doesment she is the epitome, the status. she can't run away from it. ashley: upsidedown. stuart: the world turned upsidedown. we have dueling economic plans from donald trump and hillary clinton? do we want to be more like democratic socialist europe, he said with contempt? what do you want, america? we're going to hear from both candidates today.
one last check of futures shows we're going up and we've got a prediction of 20,000 on the dow in the next 12 months from s&p. ashley: i'm skeptical. stuart: more on that after this. if you suffer from a dry mouth, then you'll know how uncomfortable it can be. but did you know that the lack of saliva
>> all right. the dow industrials closed yesterday at 18,495. you know, that's not that far away from all-time record highs. are we going to get there today? i don't know, probably not. in two seconds i'll tell you how we open. here we go 9:30, a thursday morning and market going up at the opening bell and yes, we are. up 28 points and look at the green patches on the left-hand side of your screen, that's dow stocks that are going up. that's pretty universally on the upside among the dow 30. to unchanged. actually. here is the s&p 500, where is that going? it's up .25% about in line with the gain for the dow. how about the nasdaq? that's up .35. slightly stronger. the stocks are broad-based, up today. the price of gold. 1352, not much change this morning.
how about oil, $41 a barrel and that's what you're going to remember. look at that, it's $42.03 per barrel. okay. just proving me wrong. and all right, individual stocks, apple's iphone 7 reportedly debuts on september 7th. the stock is up a little bit in advance of that and that news. the big names, here we go, amazon, up a buck 40 at $770 this morning. how about alphabet, been going straight up, above $800. 810 as we speak. microsoft, a tiny bit of it. 58.26 this morning, i'm not quite sure what the all-time high is, that's got to be close and facebook, moving up a little. 125 on facebook. joining us, ashley webster, eboni williams stayed with us, larry levin is with us, and dr barton bot ton right-hand block of your screen. i'm going to start with politics. the candidates are talking
about the economy this week, it's fair share europe for hillary and it's big growth usa for donald trump. that's how i'm characterizing it. which country would you rather live in, dr, and am i right? is that the right way to characterize the two sides of the economic fence? go, dr. >> i had some interesting discussion with friends of mine recently, christopher, talking about hillary and the slippery slope towards socialism, the bernie-- the feel the bern has dragged her closing down that path and i believe you're exactly right. i think that's the voting picture on the economy, full stop, and i just can't go there. stuart: how about you, larry. am i right in characterizing it as a very stark choice, european socialism versus pro growth america? >> yes, definitely. if you get trump in office, entrepreneurs will succeed, and we'll go in the right direction. if we get hillary in, i can see socialist europe. it's fascinating.
big government against private enterprise. but that's not what you hear in that's not the debate about this election that's being framed in america at this moment. eboni-- >> part of that is republican nominee trump's fault. he wins that argument hands down and this is the only reason that my mother has been on trump train, she believes in his prosperity plan. he has to talk about that more. stuart: there's for trump around the table on the economy. the big board, we're up 64 points. i've got a prediction from s&p, a reputable outfit. saying that the dow will go to 20,000, that's a bold forecast and technical in nature. ashley: and she put a rosie prediction because they want to talk the market up. that's my cynical view.
stuart: dr, 20,000 within 12 months, what do you say? >> it isn't very technical. it's a technical view they took looking at their projection for all 30 companies and then putting that together. but, if you think about it, though, 20,000 is only 8 1/2% higher than where we are now. the normal fluctuation over a given year should encompass that. i would be surprised if we didn't hit 20,000 in the next year just based on normal market fluctuation. stuart: how about you, larry, what do you say? >> i think it could happen in six months if we don't raise interest rates. if janet yellen doesn't do anything, maybe six months, maybe eight months, maybe a year. stuart: this is a revelation for me. the preference for donald trump's economic policies and people fairly bullish. ashley: the fed keeps not raising rates, why not? >> now the great decider, eboni kay williams who is not a financial analyst, what say you? >> look, i'm hoping, i was talking during the break, getting into the market myself. stuart: really?
>> yes, and i'm hoping that this goes rosie and great and all that. stuart: you as a total outsider from the financial world. >> i've got to. how am i going to break into the housing market, stuart? seriously. stuart: okay, all right. >> you know, i'm getting feisty. stuart: and gopro introduces a 360 degree virtual reality camera, $5,000. for that you get six go pro cameras, a remote control, extra battery power and license to use the product. and gopro is down in the last 12 months and it's up 8 cents on the virtual reality news. how are you, pet owners are you familiar with blue buffalo? >> yes. stuart: that's natural pet food. they've raised their forecast, i think that stock is down, 2% down, there you go. [laughter] and lower profit at vista outdoor. remember, we quote this stock a
lot because they are an ammunition company. that stock has been going straight up. now, they also make bell bicycle helmets and sunglasses and a wide raft of products. they're an ammo company. and now they're going down 13%. and alibaba, we call it the china amazon, very good sales and the stock is up 5% this morning, big gain for a big-name stock. how about shake shack. give an upbeat outlook. however, sales were down and i see that stock tumbling down 3.8%. give me the story, nicole, please. >> the truth of the matter, the shareholders are upset with what they've seen, and the stock is down. and the company comes in with same-store sales growth. it did miss so they see a deceleration and generally a couple of things, people are spending less and talking about a choppy restaurant market.
in fact, they say that their multi-tiered system helped them navigate through had a difficult time. that being said, this time last year, this was a $75 stock. i will also say how does it compare, compared to let's say wendy's. >> actually year to date up 3% and wendy's is at 8%. it's outpacing wendy's and mcdonald's is flat. so, i guess it's a difficult industry overall. stuart: i would say that, too. all right, nicole, quickly show me amazon, i think they hit a new all-time high. there you have it, 773, okay, now 772. okay. the new high is 773. that's amazon for you. i think they've gained, 2, $300 per share in the last couple of years. how about that? there's a stock for you. i don't know if you want it at this price. >> if i can get two shoes. stuart: let's get to-- . [laughter] astonishi astonishing.
wendy's says uncertainty surrounding the election is one of the reasons the sales were down. dr, you're a market guy, is that an excuse and you're buying it? >> i'm not buying it because i think that same-store sales growth we've seen in mcdonald's and seen in some other places and he also said something that was a little bit insightful. he's blaming uncertainty about the election on people not wanting to spend money. and at the same time, he said it's cheaper for people to heat at home than at stores. so, what happened is wendy's gross profits went up. the revenues, didn't meet growth numbers because they're getting the same cheap ingredients and not passing the prices on. those cuts on to customers because they're already in a price war. so it's a tough business and i'm not buying his rhetoric. >> give us the political angle on this. >> the common sense angle, we want to look better. people want to be healthier and
it's a generation preserving with health. ashley: and the consumer sentiment surveys have been strong. consumer spending has been solid and none of this matches to dr's point. >> that's true. >> larry, do you think that people are eating fewer wendy's hamburgers because of that awful election? >> no, what eboni said. people want it look better and realizing that we've got to take care of ourselves and going to wendy's and mcdonald's and burger king is not, and people are. stuart: all right, layrry, i'll go on that. >> you look fine to me. stuart: thank you, larry. by the way, dr, come in on this, please, macy's is going to close 100 full line macy's stores and the stock is up 16% and kohl's up 15%.
good lord. >> closing the stores, i think, is one of the reasons, stuart, they beat numbers, they did well versus expectations, but let's remember, both of these stocks, kohl's and macy's were north of 70, and they've fallen mightily. both had bad first quarter numbers when they are the reported three months ago and these bump them back up where they were. macy's trimming down and getting rid of lower producing stores is a good thing for the brand. stuart: got it. dr, i want to turn to oil. i've got dueling stories, contradictory stories on oil. first of all, saudi arabia set a daily output record in july, pumping 11 million barrels a day. in contrast, the international energy agency says this oil glut will be gone in the second half of the year. they seem to be contradictory to me.
sort it out. >> eia is trying not to let the prices go further than they are, adding to saudi arabia and all the oil producing countries wants to produce as much as you can because the prices are lower. and you don't have to produce as much at 90 a barrel. you do that, push the markets down. it's a yin and yang. it's interesting to watch and interesting to trade, but it always happens and there's always conflicting things. you've got to pick the winner and that's where you pick the price you're going to trade at. stuart: thank you, eboni, dr, larry, great stuff, one and all. now, donald trump is holding an event in miami today and speaking in the next hour. expect to hear more on his big plans to grow our economy. we've got to bring you there live. and the drug enforcement agency, listen to this, scouring travel records to profile possible drug traffickers and taking their money if they suspect without
>> well, it's thursday morning and not a bad rally going on there. 77 points higher, 18,574. not too far from an all-time high. amazon is at an all-time high, $773 a share. now, we have to bring you an update on the war on terror. the new prime minister of libya warning europe about isis. what is he saying? >> yeah, he's saying, look, he says the terror group, no doubt about it is snuggling onto the migrant boats that are floating across the mediterranean and straight into italy. libya is in a pitch battle with isis calling for more help from the international community and while that goes on, he says,
look, italy, look, these people are spreading throughout the european union and says they're a very clever group, strong-willed group and need to understand those migrants coming across, some are isis fighters. stuart: i wonder if angela merkel is listening. ashley: i hope so, a little too little too late. >> definitely open the door, mrs. clinton when she destroyed the government in libya under gadhafi. there wasn't a single isis fighter in the country, she created the chaos. stuart: and the bigger problem was angela merkel, come in, everybody. >> that's why brexit came about. stuart: the judge is talking about this, tracking people's travel plans. what they're looking for is the possibility of drug trafficking.
where they're suspicious, they seize the cash, millions of dollars. so, am i right, they're actually seizing millions of dollars from people suspected having been not been proved guilty in court? >> i'm going to be a little snarky and correct the introduction, what they're looking for is not drug traffickers, what they're looking for is free cash. stuart: oh, well, now, that's your way of putting it. >> so they interrogate these, and talk them into opening up their suitcase because they can't force them to open up the suitcase, they don't have a search warrant. they put the cash under the nose of a dog, the dog reacts in a certain way and then seize the cash and file a complaint with a federal judge saying there's no explanation for the cash and the dog reacted if there was a taint of a controlled dangerous substance on the cash, therefore, your honor, we'd like to seize it. a lawsuit, united states of america, versus, i'm going to
make up a number $42,000 in cash. stuart: has this gone on repeatedly? >> yes. stuart: widespread this kind of thing. >> yes, in the past year collected over $200 million this way. stuart: 200 million. >> we don't know what happens to it. we suspect they share it with their local partners, they do it in conjunction with local police. think about it, the people whose cash they have taken probably are involved in some unlawful activity. they will happily give up the cash in return for not being prosecuted. the cash is not theirs. they're the mules delivering the cash from a to b. they'll say to these feds, sure, keep the cash, leave me out of it. stuart: it sounds like a pretty good for everybody, apart from the constitution. >> right, because it's seizure of property without due process. stuart: but they consider that it is due process, after all it's cash, they can't account for it, the dog will sniff cocaine on $1 is --
100 bills and-- >> you can't use the physical reaction of a dog as justification for seizing property from someone, but you don't know whose property it is. stuart: you can if the dog is always right. >> no, no. the courts will not allow a dog to be the evidence because the dog can't be cross examined. i know this sounds ridiculous. the constitution has what's called the confrontation clause, you have to be confronted with the evidence against you. how do you confront the dog? so, look-- >> biscuits. ashley: give it a bone. >> we're laughing about this, but it's a very, very, very serious issue in which a lot of defense lawyers, some prosecutors and some judges, have accused of feds of stealing cash, lawfully, but unconstitutionally. they never prove the origin of the cash, they just put enough out there so that the person who has it says keep the cash,
don't put me in jail. stuart: it's a very interesting story. >> it is, on and on and on, and congress has an effort to rein this in. you understand this is being done pursuant to statute. there's a statute that allows th this, but it's unconstitutional. but do brits believe in the constitution? oh, i forgot. listening to you. stuart: and look at that, that's a silver spring, maryland, just outside of d.c., an explosion at that apartment, a huge fire, firefighters actually threw children-- i think the residents threw the children out the window to save them. no word on what caused it. but a very serious situation a few miles outside of d.c. we thought we'd bring you that video because of the children. all right, hillary clinton laying out her economic plan likely today, tax the rich, spend more money, debt-free college for all. surely millennials will buy
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amazon 771, it was at 774 moments ago. lifetime highs. politics, hillary clinton's economic plan later today. one of the mainstays of that whole plan is tuition-free college for the middle class and debt-free college for all. i'm zeroing in on college provisions on hillary's plan. charlie kirk is with us, a young man fresh out of college, but certainly a memorial. welcome back. >> good to see you. stuart: if i was your age and fresh out of college or about to go to college, i'd give serious consideration to voting for hillary clinton because i would love to have tuition-free college, debt-free college. it's buying votes, isn't it? >> it is and unfortunately, this whole conversation is being misrepresented by hillary clinton. if young people truly understood why the cost of college is rising and why student loan debt has risen so dramatically the last 30 years because of the federal government.
93% of all student loans are given out by the federal government. let's look what's going on. the government, which essentially hillary clinton is advocating to get more involved got young people in debt and now she says the government is going to get young people out of debt. it's one of the greatest political ironies of our time. however, most politicians, booker, elizabeth warren, bernie sanders could get away with it. the problem with hillary clinton, people don't trust her, young people in particular. she'll have to bridge the trust factor when young people look at her. stuart: what about people who just left college. they've got debt around their neck. they didn't enjoy tuition-free college. >> exactly. stuart: how do they feel about that, especially those who worked their way through college and had a night job or something. >> i'm predicting before the election, hillary clinton's going to add a wrinkle which is student loan forgiveness, which is not just offering tuition-free for college voters, but what about the
26-year-old that never had the luxury of tuition-free college, what about the person that dropped out of college and has $60,000 in student loan debt. she's going to try to capitalize on that segment of the population. over half of all privately held student loan debt are held by people that never graduated from college. student loan forgiveness bernie sanders highlighted, she's going to talk about that as well and talks about the hypocrisy of the entire platform she put out. stuart: charlie kirk, come back soon, a long time since we've seen you. now, happening next hour, in fact, 30 minutes away. donald trump delivers a speech in miami to the national home builders. will he be on or off prompter, on or off script. that's an important question. ashley: yes, it is. stuart: find out when "varney & compan company", second hour is about to begin.
within the hour donald trump will speak from that stage to the national association of home builders. he will likely return to his growth plan. whether he's on prompter or not, on script or not, we won't know until he speaks. but the home builders are a prime audience for his message of growth and how to arrest the decline of the middle class. a few hours later, hillary clinton reveals her plan. big spending on education, and infrastructure. new social programs like debt-free college and pre-school for all four year olds, to pay for it, big new taxes on the rich, on wall street and on businesses. i'm going to call that democratic socialism. let's hope that the political debate returns to the issue of prosperity and how we get america's economy back on track. in my opinion, growth and prosperity are the glue that could bind our divided nation together again and that's what this election, in my opinion, should be all about. the second hour of "varney &
company" is about to begin. ♪ >> well, look at this. the dow industrials are at 18,561, that is roughly 25, 26 points away from the all-time closing high for the dow industrials. we're up 64 points as we speak. how about apple? a new iphone coming in less than four weeks as the iphone 7. the stock is beginning to move just a little higher on that. here are the big names which we check all the time because this is where the money is going. look at amazon, 771, netflix, 95. alphabet, that's google, down a fraction, down 50 cents, 807. microsoft, i own a little, 58.35 as we speak. shake shack, lower sales, down it goes, 7%. how about the price of oil? we're around about $42 per
barrel as we speak. oil up, stocks up, that relationship holds today. now, it's one minute ago, we received the latest on mortgage rates, it's at the bottom of your screen. give me the number. ashley: 3.45%, historically low. the problem is, we've been talking about that this morning, there's a derth of homes on the market and prices are rising, lowest level in 30 years. home ownership are down to levels we didn't see since 1965. this is a problem. people can't get into the market. they can't get past the credit requirements, the down payments and the fact that many of the millennials out there want to get in the market are saddled with student debt. stuart: what is a terrible thing that is, when you've got a 3.45% low. ashley: to get into the market. stuart: we've said this many times on the program. when i bought my first house many, many years ago in america, the interest rate was
12 1/2% and i thought i was getting a deal. you've been in the housing market. ashley: i have, i remember back when we moved to the u.s. back in the early '80s, it was at 16%, and now think about it, 3.45%, 30-year fixed. stuart: here it is now. all right, donald trump is going to layout what he has laid out, his plan already to restore us to prosperity. later today we're going to hear-- he's going to speak in miami there and we'll hear more about his growth plan. later on this afternoon. we'll hear from hillary clinton. what is her plan for the economy? i can tell you now, it includes free college tuition, higher taxes and it's like, in my opinion, again, it's like choosing between european socialism, that's the way hillary wants to take us, and pro growth america. i think that's the way trump wants to go. from the washington examiner, byron york is with us now. am i being too extreme, byron? i'm seeing this in clear-cut terms. which way do we want to go, europe or america? >> the contrast is very, very
clear in the fact that hillary clinton is giving a speech at the detroit economic club, just like detroit police did and will put that contrast into high relief, into real focus. one thing though, i think you should remember though, trump has been going out on the stump, giving speeches, and he tends to kind of go all over the place, and sometimes he makes news with things he doesn't want to make news about. if you being liao at hillary clinton's speeches, you know, since the convention, it has been jobs, jobs, jobs, the economy all the time. she's been very, very focused, yes, it's focused grouped and poll tested and all of that, but stayed relentlessly on message about the economy and that may be boring to reporters who cover her, but probably effective as a campaign. stuart: that's the key question about donald trump's miami appearance today. will he stay on message? i think most people really like to listen to donald trump when he's free ranging.
when he's off the cuff, he's entertaining. he feels the crowd, he warms to the crowd, but that's when he puts his foot in his mouth when he makes not little mistakes, he makes mistakes. >> sometimes big ones. stuart: sometimes very big ones, that's true. everybody is watching. will he go who have script today? will he stay focused? >> well, he is speaking we should point out to the home builders association today. so he has a group that's interested not just in the economy, but in what we were just talking about, the troubles in the housing market, home ownership actually going down, this recovery certainly not covering all americans, many in the middle class not able to buy a home even with those interest rates you were discussing earlier. so, this is a huge opportunity for donald trump to push this and you're right, it's kind of a test to see if he can stay on message. stuart: oh, it definitely is. and he's a builder. that's what the man does. >> there you go. stuart: a builder.
surely this is a wonderful audience for him to get down into it about building homes, the housing situation in america, right? >> and it is. and it's a very good opportunity. ap one more thing to remember, the more trump talks about the economy and in this case about housing, the less there is to talk about donald trump's temperament. notice that the hillary clinton campaign and her democratic allies have made trump's temperament the center piece of their campaign against him in the last month or so, not only the khan affair the second amendment controversy the last few days, they've tried to argue that donald trump is just too dangerous, a vote for him is too risky, if he comes out and he's talking about the economy, jobs, housing, it's going to be harder for them to talk about temperament. stuart: 20 seconds left, byron, has he left it too late? >> it's entirely possible. look what happened after the 2012 election.
barack obama's strategist bragged that they had framed and defined mitt romney months earlier before the campaign and i think the thing the trump people have to worry about is that democrats have framed and defined him months ago. stuart: byron york as always, thanks very much indeed. >> thank you, stuart. stuart: all right, hillary clinton, she's been tweeting about the economy as she leads up to her big speech, big economic speech today. i'm going to quote a couple of things. number one, when you dig deeper, you see that young people of color have faced even greater challenges. that has to change, along with this, incited chart showing unemployment by race. let me quote another one. another tweet, the first one didn't go anywhere. young people were among the hardest hit during the great recession and the effects still linger and adding this-- i'm sorry, can't quite read this, one in ten americans
between the ages of 16 and 24 is unemployed. that's twice the national average. okay. got that. tamara holder is with us. it's the obama economy that she's been talking about, what she's been lambasting there. she's lambasting mr. obama's economy. >> i don't think that's what this is about. >> that's what she's talking about. >> it's not about the numbers, she's speaking to the voters, speaking to african-american voters, voters who were bernie sanders supporters, young college students so it's not really about the numbers. as-- what you couldn't get out of your mouth and i will say what the word is uncited statistic. because it doesn't matter. i think that's the point, is doesn't matter what the numbers are because we're going to fight about that all day, this is about how do you get those voters that are on twitter and following her account to vote for her. stuart: okay, let's look at reality for a second. >> okay. stuart: we've had eight years of mr. obama's economy and the
situation of young black people have gotten worse, i think you'll agree with that. the unemployment rate is higher now than eight years ago, it's a go nowhere economy. hillary clinton proposes more of the same, actually she proposes a third obama term, spend more money, tax the rich. why should the outcome be any different with a hillary clinton presidency? >> well, i don't think that this economy is as terrible as you're stuart: i'm not saying it is. hillary clinton is saying it is. >> it can be better, we can make america great again, but it's not that terrible. stuart: why is-- >> unemployment is at 5%. stuart: wait, wait, why is the economy the way she says it is after eight years of president obama's economic policies? >> i think that's had a difficult position for her to be in. stuart: it is. >> and why bernie sanders. stuart: thank you. >> and donald trump are so beloved. how do you say you're going to
make it better, but it's still great? and it's hard to put those two together. they don't-- it's oil and vinegar. stuart: she's actually running against the obama economy even though she's going to give us more of it. >> well, it's greater, so it's not just making a greater, it's making america greater. i believe that america is great. it doesn't need to be made great again. stuart: you're all tangled up, aren't you. >> you fluster me. [laughter] >> with the facts. ashley: oh. >> oh, no, no, but if you go to clinton.com you will see that she has more than 90 policies and ideas that she has put in place and i think that it's very easy to have talking points and say that she's so bad and the obama term number three, which people love to say around here, but it's deeper than that. [laughter] >> seriously, it's just that you've got your talking points, i can see them. >> these are not my talking points.
>> i was going through all the things she has on the website from substance abuse and autism, and terrorism and criminal justice reform. you don't have a job if you're in prison or addicted to drugs. these are all issues that are affecting our economy. it's not just, you know, detroit manufacturing jobs. stuart: shall i move on? >> no. stuart: well, i'm going to. >> i'm going through 90 more points. stuart: wait until the c-block of the show we might bring you back. now this, a protester at a hillary rally marched out. can you see it there? marched out. he's out. and surrounded by secret service, that protester was from an animal rights group. and remember this oil rig? scotland on a beach. >> on the beach. >> it was blown ashore on the
way to malta, officials now say that two have ruptured and diesel oil is spilling out while the 600,000 pounds of diesel on board. 280 tons i think that works out to and it's spilling. that's bad news. donald trump about to take the stage in miami at national association of home builders. the economy should be back in focus in this speech. we'll take you there in a moment. more varney after this. ♪
we'll bring you anything from that speech. the dow is within 30 points, 40, actually of all-time record highs. look at macy's. the story there is they're going to close 100 full line macy's stores. the market loves it, it's up 13%. look at kohl's. better profits, apparently warmer weather helped kohl's and they're up 12%. i've got fresh terror news from canada this morning. ontario police killed an isis supporter. what happened. ashley: yeah, 24-year-old aaron driver was his name. he was known to authorities and arrested last year for basically avowing his support for isis via twitter. there was a tip to police in canada he was planning some sort of suicide bo many-- bombing in a public area. they went to his home and he detonated a bomb when they came in. when he looked as though he was going to detonate a second explosive device, people shot and killed him.
he had been arrested and released with an electronic monitoring devices around him, they were aware of him. they got this tip and decided to take action. stuart: thank you. i want to bring you the story yesterday about the police in chicago being on high alert reportedly. gangs in chicago are teaming up to kill, deliberately, police officers. with us now from pinell county in arizona sheriff paul babeau. i want to move out of chicago and talk about your area. >> yes. stuart: do you see a confrontational approach between police and minority? >> in our county, 30% of our state is hispanic latino. and there has been some friction, yes, in my agency. i have 30% of the men and women in uniform that are hispanic, that are of mexican decent. so we reflect very much our community, but we've had
incidents where people who are breaking the law and in one incident. we had an individual who rammed three police cars in a pursuit, said he had a gun. and said he would not be taken alive and then goes like this, to one of the officers and did not have a gun and that's when he was shot. so, it was a white officer who shot and killed a hispanic male. and it turned into that and it shouldn't have. because the facts as they were doesn't matter what race or color. you're threatening cops, and this is what's going to happen. >> what are we going to do about this? if this is a nationwide problem. this division between the communities and the police, what do you do about it? >> here is what we do. we start with the president of the united states, president
barack obama, and former ag, eric holder, proclaiming that everything we do is through the lens of color, that's a lie. and ends with these al sharptons-- >> it was a rebuke to the police force in baltimore for what is called their racist previous behavior. >> well, you have now people in the government, even in chicago, with this exact shooting that you're talking about, the law enforcement labor organizations coming out and saying this review board incites all of this violence because they're coming out and saying that while there's all of these concerns and problems and use of force, put yourself in the cop's shoes. we show up, we get called to these emergencies and people now, they've been encouraged to disobey law enforcement, to always believe that everybody's
videotaping us, right? not because they want to see the incident, but because they're not trusting law enforcement and this is an awful place to put our law enforcement in america and this narrative has really been led by leadership in our own federal government and i've never seen this before. stuart: no, neither have i. lived in america 40 years. paul babeau. >> thank you. stuart: dow has a modest rally. a story about the olympics. how about this? a second olympic pool has turned green. this time it's the water, the water polo pool. the color went from clear azure as it's described to a murky emerald green. they say that there is no risk, and it's expected to turn back. ashley: don't want to jump in it. stuart: a fan of the pittsburgh
priorities game jumps to catch a fly ball and the nacho is in his face and that's ketchup, it's not blood. the bottom line, he did not catch the ball. >> add injury to insult. [laughter] >> it's been a tough couple of weeks for donald trump. he's about to take that stage, that podium in miami, national association of home builders. will he focus on the economy? will he stay on script? find out here in a moment.
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justice scalia's death happened at a good time, roll tape. >> the death of scalia saved lab labor-- and i don't -- i don't wish anyone ill, but it happened at a good time because once that decision had been made it would have been tough to reverse it. stuart: well, how about that? we've got a new quinnipiac poll by the way, and strickland is down 9 points, a democrat down 9 points to senator rob portman. tamara, i am ausing this as an example of a double standard. if it had been a republican glorifying the death of a supreme court justice you would have this all over the place, all the time forever. i think you know that. >> you know, i always get the losing topics here. what many i going to say? it was an insensitive--
i can't speak, it was an insensitive comment by him. i think what he was saying was that the union now has better bargaining position now before the supreme court because the union vote was 4-4. but-- >> laughing-- >> i'm not defending that, make it clear and it's insensitive and i think that poll was taken before the comment so i'm sure, this is a losing position. stuart: the polls have nothing so do with what he said. his standing at the current time. that's before the comment. i'm sure now-- >> what i'm getting at, is in this election, the media is 100%, almost 100% on the side of donald trump and rabid against donald trump. they're rabid against him and-- >> even the new york times admits it. stuart: the new york times admits it. >> whose fault is that? it's donald trump's fault.
stuart: no, the elites in the media who are not doing their job. >> no, donald trump is where he is because, because in a puddle of whatever, feces because he put himself there. he put himself there. stuart: was that in your talking points? no, it was not. i've got to get to this story. gun sales soared under president obama. and i've got a chart for you, smith & wesson stock just climbing for eight straight years. you know, the tail end of that, from the year 2011, 2012, actually for the last five or six years, straight up. that's the stock. and permits for concealed weapyear-- since 2007. we thought we'd bring you that because mr. obama is one of the world's greatest guns salesmen. donald trump, he's in miami, he's going to be taking that stage in a few moments. we'll take you there, too. stay right there, folks. i don't want to live with
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stuart: look at it go, 69 points higher. 30 points from the all time closing high for the dow jones industrial now up 70 points and look at this three bright spots on retail front. good numbers at macy's and kohl's, that's helping nordstrom by the way, macy's will close 100 for stores all three stocks really straight up. not bad. donald trump stood out to address national association of home builders from that podium in florida. we're bringing him to you when he arrives at the podium. senior advisor on the trump campaign boris is with us today. boris welcome back. flght good to be here. >> you are -- a senior advisor for the trump campaign? >> i am. i am. >> did you know that speech today -- he's not going to be on teleprompter. >> exciting it is going to be a
good one. stuart: worried no >> not at all not one bit. stuart: don't think he might go off not on a script and might say something untoward shall we say? >> authentic donald trump a strong speech talking about the economy. talking about national security, the report from the fact that been reports on isis but concentrating on two main issues. national security, and that economy going to be a great speech. i can't wait. j you know for a fact it is doing security and the economy. that's what he's talking about. >> two subjects that he'll be talking about about. stuart: okay, now -- economy -- i don't know why you're laughing. [laughter] >> she's excited for the speech. [laughter] we have to talk about the economy 20 trillion deficit because of hillary and obama that's why. some of the economy fissioning issues she'll fail. stuart: i think that today, this week, in fact, we're presented with very stark choice in the
election. hillary clinton this is my opinion takes us down to being more european that's where she wants to take us donald trump a vigorous growing america he's going for growth. there's a stark contrast between the two. he should stay on message. he should stick with that. >> she helicopters to try to sell herself as sort of change agent you saw bill clinton do that at the convention that is such a crock. right? she's been around for 40 years, she's not changing at the same old -- and both in materials of proposals and lying to american people that big satisfactory still is those e-mails that pay the price for the economy. what about economy, hidden shadow economy getting billion dollars from a convicted felon. stuart: now, have you considered this? that donald trump is making a rational decision to go off script because that's when he's at his most attractive that's when these --
at the most entertaining and gets his big reports. if goes on prompter on script it is a little dull quite frankly. he made calculation it is worth of risk of saying something a little odd. >> just because he's not on prompter today doesn't mean he won't for next 8 l days but you'll see throughout the next 88 days is a combination of the policies specific donald trump and talking on issues economy, national security, foreign policy, immigration you have new rollouts almost every week and may be used for that. but speeches like this to talk directly to american people talk from the hearts you see authentic -- stuart: did you say at any point any meeting recently you know donald you're are boring on a prompter get off it. >> i don't think even when he uses prompghter you get trumple ets things that attracted 14 million in the gop primaries. >> so prompter plates saying yeah --
>> believe me right, and when he wasn't using notes or talking about specifics as much aside he was now getting hit on that from the media. you know dong both is important. one of his specifics on the economy. the t -- 50% tax rate but, of course, they want to see donald trump that's why he's been so successful. and that's -- [inaudible] >> right now i just got fired. [laughter] by talking about the teleprompter i'm gone now. all right save that for a while. thanks. "the new york times" now here's how i'm going to introduce judy miller "new york times" has admitted its journalists are bias against donald trump. they say it's trump's own fault. here is the author of the story aforementioned pulitzer prize winner at judy miller. why are you laugh sting? in my mind i read it "new york times" says yes, our journalists
are are anti-trump but they say that's okay. because trump is dangerous. >> i think what they were saying is that donald trump is a candidate unlike any we have ever seen and that he's testing the limits of objective journal esm which is different from saying "time" is bias which by the way public editor said earlier on said earlier on it's biased and she pointed out liz, a new voice, new public editor pointed out that the "times" failed to cover hillary clinton's lie about what james combmy the fbi director said. >> a double standard. >> there is a double standard. stuart: not just at the "times" but all over the place. >> people don't know what to do request donald trump when he tells out and out lie. >> they hate him. hate the guy. >> how do you explain this? this is not a liberal conservative bias because it is conservative republicans who are
most, most hostile towards trump they say things that liberal report terse never say. >> i don't think it is anything to do with ideology either. i agree entirely. it's the elites whose apple card is widely upset by this radical donald trump. >> i think i have to disagree with you there. this is a man who says things that we've never heard an american politics said. wouldn't say racist and massage scientist. >> they are sitting back and saying oh, we can't have a guy like this saying this kind of they think in the oval office. it's not what we're used to. >> it is not american what they're saying but not american. >> it is profoundly american upset the apple card tell us how it is. >> but that's what i judge can't be objective because he's of mexican hair heritage is not telling you how it is. it is telling you about donald trump's view was world and stuart it's scaring people. it's scaring women and it's scaring republicans.
>> say you -- >> it does wiive to tell you -- what had about donald trump? >> i think this race are is shaping up into one between crooked hillary and crazy donald and if that's where the race goes, i think crazy donald lose it is because more people right, i think that's the way he's defining it by off the cuff remarks kind of remarks let's face it we all wait for when we see an unscripted donald trump perform. >> i have to break in. surprised i love to bring you back in. >> judy herb is great. trump will be president an it will be wonderful. >> all will be well. ratings are fantastic. [laughter] >> dow industrial average is up now 95 points. that puts it what -- trying to do the math here. it is all of 4.5 points away from record all time closing high for the dow industrials . now donald trump is going to be speaking in miami moments from now. there's the podium. we'll take you there shortly,
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talk them into opening up their suitcase because they can't board up with the suitcase they don't have is a search warrant and finds cash in there. they put the cash under the nose of the dog and dog reacts in a certain way and sees the cash and file a complaint with federal judge saying no explanation for the concern and dog react ared as if there was a faint of a controlled dangerous substance on the cash. therefore, your honor, we would like to cease it so literally it is a lawsuit.
♪ >> drumple moment a little running a little late. that's a little unusual. but he's going to appear on that podium momentarily. this is in miami. he's going to address the national association of home builders and reliably informed that he's not using a teleprompter this will be trump unleashed and by a mere script from the -- oops. judy mil is with us and ashley as we await mr. trump. now short by before our next commercial break judy miller talked about crazy u donald trump.
boris took issue. make your case. >> absolutely i disagree with her completely crooked hillary go. donald trump goes speaking for american people. you know there's a media in the ad and ten seconds out of an hour and a half speech but the key here is he is the candidate that's going to keep this country safe, and on that economy which is one of the main issues if not the main issue. we have 20 trillion dollar deficit in this country we have to fix that. we can't keep adding to it . hillary clinton fire departments to add 1 mt..9 trillion are over next it been years. that's a projection. okay. [inaudible] >> projection and donald trump proposals what we know of them today suggest that he would add $3 trillion to the death. i don't think that that is the issue -- the debt is a kind of side issue. i really do. i think that growth is the key issue here. how you get this huge economy -- growing again and surely
argument comes down in favor of trump's plan. >> i don't think so. no, i think -- stuart: hold on. you tell me how u you're going to get real strong growth in the american economy by taxing the rich, spending a whole lot more money, how are you going to do that? does that give you growth spending? >> hillary clinton said she would raise tax for the 1%. not for the middle-class. [inaudible] second -- second of all, i think what she has concentrated on is infrastructure. and this is where you really could create jobs and create some momentum within the economy. we haven't seen specifics from donald trump on how -- stuart: wait a minute on this program, donald trump told me that he was going to create a infrastructure fund at least double the size of hillary clinton's 300 b to finance this bond that is a huge infrastructure plan.
>> and also we have to talk about trade we mentioned trade -- stuart: i want to get the growth. explain to me. >> getting him to be specific about something. the most important thing is that people begin to believe that there is a future for them and their children and that means putting people to work now. i don't believe -- stuart: i'll tell you how you put people to work now, you cut taxes put more money into people's pocket an they spend it and they invest it. that's job creation. more corporate tax -- >> no growth -- but there are higher multipliers as you know from things like infrastructure -- >> hillary clinton and the government makes big money. tompleghts achieve anything she says hillary clinton has been at it for 40 years now 700,000 jobs tpp kill millions more and she's in support of all of these. she has a track record as does tim tebow. stuart: i have to break away for a second because i have colonel oliver north with us. welcome become to the program.
good to see you. i have to refer to something that donald trump said i think it was yesterday. donald trump said, obama is the founder of isis. roll tape. >> isis is honoring president obama. he is the founder of isis. he's the founder of isis. [cheering] he founded isis. and i would say that cofounder would be crooked hillary clinton. >> okay, now his opponents are taking that at face value, and, obviously, taking issue with it. oliver noters come in please what do you make of that statement he's founder of isis? >> look it, i was there at this war that was ongoing. i was watching what troops call the obama bugout in december of 2011. and then the catastrophic result of that in concert with the syrian civil war.
so if obama had not been creator of it wouldn't have happened. whether he's founder, creator of it there's absolutely no doubt in my mind or senior leadership that i've been covering in this war now for 15 years the americans had not pulled out and if obama had kept his had words about the syrian civil war, isis would not exist. is that the creator or founder? i'll leave it to you. >> but left is jumping all over this and saying if you take that statement at face value, then it is, obviously, not true. i mean, nobody believes that the president get out there and founded isis. but -- as you say his actions led to the founding of isis. that's the point. >> his action it is in pulling the americans out in december of 2011. and not following through on the syrian civil war that's why isis exist today. it would not exist had it not been for what barack obama did. >> okay.
stuart: now on the left-hand side of the screen hold on on the left-hand side of the screen that's the podium in miami and donald trump will be speaking there moamght momentarily he's 30 minutes late at the moment. when he starts to speak we will take you there. very important point here is that he's not going to be using a script or a teleprompter in other words this is donald trump i'm going to say it again unleashed. speaking to some degree off the cuff. epstein to the campaign you're telling us that he's going to reare strict his comments to security and to the economy. that's accurate? >> well he is national of home builders, of course, that points to the economy. but he will definitely talk about national security. especially huge topic this week is all about the economy but national security is always if in the mind of americans. 70% of americans foalless safe now than they did eight years ago. >> before we leave you what u do you want him to say on security?
>> i want him to talk about rebuilding defense establishment the idea that we can have nuclear weapons soon in the hands of the iranians alreadies in the hands of the north koreans and proliferation of them all u over the middle east there's no mean was defending the american people. we're doing a better job at defending the people of south korea or japan or even poland than we are defending the american people so priority number one, deal with the threat with the agreement deal with iran. >> all in all thanks very much for being with us sorry so short but we're waiting on donald trump. we'll be back with you all in just one moment. but bear in mind dow u industrials are now up 114 points if they close at this level it's a new all time high. how about that? back in a moment. for whenever anything happens in the market. kid's a natural. but thinkorswim already lets you create custom alerts
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right now stuart getting collude in on what's coming up at top of the hour here's what we have there stu with a low down donald trump speaking right now on miami orb to bringing focus of his campaign back to the economy. we're listening to it and, of course, bring you developments as they happen. it's another scandal for hillary clinton this time it's the clinton foundation. hillary facing ailses of pay to play judge andrew napolitano is on his way. hillary has a speech on economy today and create 10 million jobs if her first term her critics not very convinced about that. but first trump's campaign from earlier in the show. >> i think you're going to hear very much about the fact that we want to make sure that money is available, but we also want to have prudent landing our financial institutions need to be secure. americans need to be secure in their investments. this is one of the things that's changed over the last 70 years in this country.
where we've moved our wealth from banks into homes, and if you tack a look at the some of the statistics we've looked at, we have a lot of negative wealth in this country today. and i think that home ownership is one of the things that we can improve that and that's what he's talking to these builders about.
from the plan that donald trump announced earlier this week. he's all about cutting taxes, deregulating business, he is going flat out for maximum growth. the two candidates offer a clear choice, and that choice will be made at a crucial time. the economy's not doing well. what do we want to do? which way will we choose? the third our of "varney & company" is about to begin. ♪ ♪ . stuart: well, before we get to politics, look at your money. ashley: going up.
explains the rise in stocks. oil up 43, stocks up 100 points on the dow. alley baba, a lot of people using it. the stock now at 52-week high. amounts hit a high of 773 earlier, now 770. that's up about two bucks. delta, headaches continue. 25 flights canceled today on top of all that they've canceled earlier this week. some of these today's cancellations are because of bad weather. overall, operations have returned to near normal after that global outage earlier this week. delta recovering to 36, the stock. we are still waiting for donald trump to appear in miami at that podium. momentarily, he is running very late. the theme this week in politics should have been
about the economy. that should have been the theme for the election. instead, it was all about what donald trump said and his gaps. bret baier with us, still the best show on television on politics. >> thank you. good morning. stuart: it was a sidetrack week, wasn't it? we started on monday with trump's economic plan and that was totally diverted, 24 hours. >> it really was. and that has happened repeatedly as you well know. sometimes the message gets trumped by something donald trump says in an interview or on the stump. and some of it is the media interpreting things one way. some of it is donald trump stepping on his message repeatedly. remember that this week there's another story out there that this should be absorbing a lot of attention that is the judicial watch e-mails dealing with secretary
state clinton and the foundation. and at least the appearance of a quid pro quo or something going down the line that it is a quid pro quo while she's secretary of state. this is the whole book, clinton cash, and we've seen the movie. but it's not getting a lot of attention, because of why? because the focus has been on obama is the founder of isis, a sentence that donald trump has said for probably three months. stuart: yeah, today when donald trump does speak, we're told that he's not got a script. he's not going to be using teleprompter. it will be the real donald trump speaking off the cuff. i guess there's a push and pull within his camp because a lot of people feel when he goes off prompter and speaks off the cuff, he's very entertaining. he's gripping. he feeds off and from the crowd. so a lot of people want him to be like that. but that's the time when he makes maximum number of mistakes and the interpretation from the media
is always hostile. so what we're looking for today is not so much the content. but when he goes off the cuff and says something. it's extraordinary within three months of the election, that's what we're looking for in one of the major candidate speeches. >> yeah. no, you're right. and i think that we can probably get over that whole pivot is going to happen. i don't think that there is going to be a pivot that this is the donald trump that you're going to have for the last 90 days of this election. there will be times where he sticks to bullet points. but says something off the cuff. there will be times of extreme consciousness, but then you will see donald trump dealing with a crowd and reading a crowd as he presents things. i do think that you're right. he does drift off and that is usually what gets him in trouble as far as messaging. but it's also what is authentic and has done him
well up until now. stuart: i think a lot of people are a little worried about putting that man with that approach into the oval office. and i think to some degree, some people are tired of it. now, maybe a little extreme. what do you say, brett? >> well, that is his challeng c. stuart: yeah. >> he has to get over that bar. where you can imagine him sitting behind the resolute desk in the oval office. and making decisions. and running the country. and the polls indicate that he has not gotten there. and he has fallen short. we'll see if they change in the next 90 days. but the big stories that, you know, isis and its assessment -- that's a huge story today in this report. or clinton and the e-mails and the foundation. a big story, that's not getting a ton of attention. stuart: one after another, brett. that's the way it is. bret baier, everyone. we'll watch at 6:00 point. thanks a lot. appreciate it.
>> thank you, stuart,. stuart: on the left-hand side of your screen that is donald trump being introduced, obviously. we'll take you right there when he starts to speak. monica crowley is with me. monica, i want you to address the issue of the split in the gop. because it is a profound split, and it's not narrow, and they're not coming together, are they? >> yeah. first of all, democrats never, ever do this. they always come together to win because for democrats, winning is paramount. ideology is second, and they can kick in the ideology when they win. but they have to win in order to do that. so winning comes first, they come together at the very least, stuart, they shut up. look at bernie sanders and his team; right? republicans never do this. they constantly engage in the circular firing squad. to me, it is disgraceful. stuart: donald trump is about to approach the podium. the gentleman who introduced him walked off. coming onto full center stage. we're going to listen in to say what he has to say, at least in the early part of his presentation. and we'll make comments on
what he's going to say. speak. >> thank you, everybody. well, we broke a record. you broke your all-time record with attendance. i know it's not because of me, but a lot of people came that normally don't come, and i'm very happy about that because home building is very close to my heart. that's where i grew up. my father built homes in brooklyn and queens. and that's how we started, and he worked very hard building garages. he started off building garages because the car was sort of coming into vogue and people had houses, but they didn't have any place to store their car, and he worked very hard, and he put my uncle through school, mit. my uncle went to mit, my father worked very, very hard. and then my uncle went to graduate school, and then he became a doctor, and he went to mit, and my father kept working and he says does this
guy ever finish school? and then he became a professor at mit, and he says finally. and it was amazing. but my father built houses, and he did it beautifully. and he would go into the houses, and he would check for nails. see, the bigger companies don't do this, but the individual guys that do the one or two or eight houses a year, we have all -- everybody's represented. but my father would go and pick up the sawdust and pick up the nails, the extra nails, and he would pick up the scraps of wood. he would use whatever he could use and recycle it in some form or sell it. and there was a constant process, and he did a beautiful job. and he would build a house and in the old days, the really old days -- stuart: donald trump just getting going in his speech as you can see. that's not a teleprompter. yes, that's right. i think that is donald trump off the cuff before the association of homebuilders. there's great danger there, isn't there, monica? >> well, donald trump's whole appeal, at least during the primary season was the kind of
raw authenticity that we saw every day from him. he would lead a rally, he wouldn't be scripted, he would speak from the heart. he had great energy. the crowd was with him, that's what got him the general nomination. going into the general election, that's a different animal. a different kind of donald trump. a lot more subdued, a lot more message, a lot more on script. because you saw the polling last week that saw mrs. clinton expanding her lead to almost insurmountable position of 10, 12 points in some polls, battleground states and that scared him. an incredibly competitive man that wants to win. i am not they want the fire. they want the antiestablishment candidate to go in there, mix it up. but if he pulls back a bit, does he lose some of that? >> no. i don't think so because i think his core supporters have got to understand he has to change a little bit. remember, he won 13 million votes in the primaries. more than any other trope run
in the presidency. but it requires 65 million votes to win a presidency. so that requires a different approach, a different tactic, and a different tone. not all the time, mind you. we'll still see the real donald trump every once in a while. when he talks about policy and speaks to different groups, he has to understand now he has to stay on message. stuart: but has he left it too late? less than three months to go to the election. today is august whatever it is. and then the election is november the 8th. less than three months. ashley: a day's a long time in politics. >> i would say a traditional year, yeah, this is pushing it. coming up 90 days to the election but this is not a traditional year. i would also say something else. he's an unconventional candidate so people are giving him more running room to make mistakes. there's more forgiveness there. i would also say external events have a vote in our general election. so god forbid there's some catastrophic event, terrorist attack, war breaks out, recession, again, god forbid.
but that could be a wild card in all of this in addition to wikileaks and who is holding mrs. clinton's e-mail inventory. there are things that can come into play between now and then, stuart,. stuart: do you think he wants to win? >> absolutely. stuart: i don't think he wants to win. >> no. no. he absolutely wants to win. he's a fierce competitor. ashley: there are people saying he's just trying to lose now because of some of the things he said in recent weeks. i don't believe that to monica's point. stuart: right now donald trump is addressing the national homebuilders in miami. so far. please remember, the dow industrials are up over 100 points. we'll be back in a moment
markets around the country. and some people are telling donald trump that they would like to see an ivory soap commercial instead of the constant trump bashing. he's just moved on to talk about how president obama is the founder of isis. listen in for a little bit longer. let's see what else he has got to say. >> you're being driven wild with regulation. but in the last five years, regulations on building houses. building homes. you know? building homes, and you all know what you're doing. have increased by 29%. and now, a number i was just given, which is shocking, you have a 25% of your total cost is in regulation. i don't understand how that's possible. in fact, where's your leader he told me that number. you wouldn't think that's a possible number. 25% of the cost of the house is regulation. so that's a pretty sad story. and i will say this. and i say this to you very strongly.
if short circuit hillary clinton ever gets elected, it's only going to be worse. it's going to get worse. it's going to be four more years of obama, but it will be worse. because she's mandated to go to the left because 45% of, you know, bernie's people, they want her to head in that direction. and with judges, supreme court judges, you know, a lot of the problems that you have are judicial with litigation, lawsuits. i know the problems that you have. you'll build a beautiful house -- and sometimes you make mistakes. okay? and sometimes you build a lousy house. okay? and they should sue you. but i know the people, many of the people in this room, you're professionals, you build great products. you have a tremendous problem with the court system. i've heard it. a really big problem with the court system. so we're going to make sure that, you know, we're going to make sure that a lot of the things that are happening to you just can't happen.
we want it to be a fair system. you have a lot of frivolous lawsuits. has anybody in this room have what they call a frivolous lawsuit? i would think -- that's all? not that many. seriously? they're just embarrassed to raise their hands. okay? i'll bet you it's every single person in this room. but very interestingly a washington post story was written yesterday that's so devastating to hillary clinton. i couldn't believe it primarily because it was in the washington post. and when she was a center -- because believe me they are one sided deal. but the press is extremely dishonest but that's okay. the people are starting to really get it. the people understand, they're smart. the american people are smart. they understand what's going on with the horror that we know as the press. we have one newspaper that actually admitted that they're covering me unfairly.
but they said we hate him so much, it doesn't matter. it's okay. can you believe it? a major paper. but i knew that before so, you know, i was, like, reading the store, like, bored reading the story. but the washington post did a story -- the washington post did a story on hillary clinton two days ago that was so devastating in terms of if you're looking for, like, what you folks want. you want efficiency. you want jobs. we want jobs. the country wants jobs. when she was a person running for the united states senate from new york, she said things that were so unbelievable, she was going to take because her husband signed nafta. nafta destroyed up state new york. destroyed it. our factories closed, our jobs fled. many to mexico, which is the third world -- i mean when you look at -- when you look at mexico, we're like third world now. when you look at the factories that they're building there. i don't know has anyone seen
what's going on in mexico? they're taking our businesses. they're taking our plants. a friend of mine builds plants. he says it's the eighth wonder of the world what's going on in mexico. how are we doing in the united states? not so good. okay? not so good. what a sad, sad set of affairs. well, nafta made that all possible. and it was signed by her husband. but she's running for the senate years ago, and she said that she's going to stray down up state new york and add 200,000 jobs, and it's going to be unbelievable. disaster. a disaster. passed no legislation that helped. couldn't get out of her own way. it went down like you've never seen. one of the worst in the country. and it's been a total unmitigated disaster, except for the people that made money trying to work out her plans. they made a fortune. the consultants and others. and she'll make a speech today, and she'll be talking about what she's going to do for the country -- she doesn't
have the talent to do it. and if she wanted to do it, just remember this. and i think very importantly, if she wanted to do it, she couldn't because her donors wouldn't let her. you know? when we look at hillary, and we look at -- you look at her donors, her hedge fund donors, i had a chart made up yesterday, which was amazing. she's taken in $48 million from hedge funds. i've taken in $16,000. i'm trying to figure out who the 16,000's from. but these are people that -- i mean these are people that are very smart people. they're not necessarily nice people. i know half of them. but these are people that, you know, when they give her $5 million and $2 million and $10 million or whatever they give, and they raise all of that money, they're working for them. they want that for them, not for the country. so my putting up money for my campaign, i financed my primaries, i'm financing now this, i'm raising a lot of money for the rnc and for the republican party. and we're getting tremendous small contributions.
thousands and thousands of small contributions. sixty-one dollars average or thereabouts. and it's amazing we've taken in a lot of money. you have to take a look at this washington post story because it's amazing. but i wrote down notes, and i wanted to talk about the policies of obama and clinton and where we are and what they've done. and the last thing you want is four more years of obama. the last thing you want are judges put on the united states supreme court that are going to destroy our nation. we lost judge scalia. a great justice. a great judge. we lost him. that was shocking because he was going to be there at least another ten years. and that seat was taken. but all of a sudden before we even start -- so this president actually could have as many as five -- it's
unlikely five, but probably four. almost definitely three. that's a lot. but it could be an all-time record. could have five. so that's probably the single-most or one of the -- certainly one of the very big. i mean defense i always say is the most. we have to be safe. we can't let isis come in. we can't let the syrians pour into our country. we have no idea what their thought process is. we just don't know. and there's no way that you can vet them. but they're pouring in and hillary wants 550% to come in more than we have right now, which is just insane. we have to be smart and tough, and we have to be vigilant. and i will say that president obama and clinton economic policies that have produced -- you saw the latest report. 1.2% growth; right? 1.2%.
if that ever happened in china, they would have a revolution. they get to 7% or 8%, and they start devaluing their currency and taking more business out of the united states. and we allow it to happen because we have people at the top that are not smart, number one. and are probably controlled by people that want it to happen. but they're not smart people. so china starts devaluing, and i have nothing against china. i like china. i have leases with china. biggest bank in the world is a tenant of mine. one of my buildings in new york. i sell condos to the chinese. the bank of america building in san fernando, i own that with a great partner. and i got that through china indirectly and directly. so i've had great relations -- i've made a fortune with china. but they don't respect us. they don't respect our country, they don't respect our president, they don't like our president, putin doesn't like our president, putin has no respect for obama whatsoever.
wouldn't it be nice if we could actually get along with russia? wouldn't that be a decent thing? wouldn't that be nice? so but there's no respect. but the 1.2 growth percent was a startling number for a lot of people. the national debt has nearly doubled under obama. and by the time he gets out, it will be more than doubled. the u.s. trade deficit, all of this work we do for trade, trade, trade, we make all bad trade deals. it's nearly $800 billion last year. 800billion, billion, billion dollars with a b. 800billion. so if i used homebuilders to negotiate, that wouldn't be happening. believe me. [cheers and applause] i could take 90% of the people in this room -- maybe higher. but i could take -- because i
know the people in this room. i could take 90% of the people in this room, put them in charge of some of these trade deals that we make with these different countries, and our country would be flush. we would be rolling in dough. but we had a trade deficit of $800 billion. we had a trade deficit with china -- this is the big one, of 505 billion. think of it. trade deficit. does anybody think they couldn't do a better deal. raise your hand if you think you couldn't do a better deal. oh, he raised his hand. [laughter] get out of here. we don't want you. [laughter] he's not a true homebuilder. that was very cute. thank you. i'm sure you don't believe that, but that's okay. you do? boy, your business must be suffering; right? nearly 24 million americans in their prime he didn't years are out of the labor force. in the last seven years, another 14 million people have left the workforce.
and hillary clinton's going to make a speech tonight. she's going to raise taxes $1.3 trillion. i'm going to cut taxes big league. big league. we're having a massive cut in taxes. we're having a massive cut in regulations. [cheers and applause] and that includes banking regulations for you people, because it's impossible for your people to go get mortgages. so hard for people to get mortgages today. unless you have a lot of money in the bank and unless you don't need money, you can't borrow; right? i have friends that call me. could you give me a reference to a bank why would you need a reference? you have a good business. they say, no, they want us to have more money than we would have to brother. well, if you had that, you wouldn't have to borrow; right? so it's impossible with dodd-frank and i know people who can't get mortgages to buy houses and that's why your housing numbers are way down in terms of what they were in terms of
new capacity. one in five american households do not have a single member of the labor force. think about that. home ownership. well, this is a biggie for you. home ownership is at its lowest rate in 51 years. now, think of that. always like the american ask dream; right? owning a home was the american dream. at the lowest rate in 51 years. and i have a chart -- where's that chart? look at this. see, i'm into the world of charts lately. [laughter] so descriptive. so here's a chart, most of you can see. you don't need very good eyesight to see what's going on. so here's obama. and here's the end. [laughter] he's not finished yet. isn't that a terrible -- now, seriously isn't that a
terrible picture? look at that. home ownership. so you take a look at what's happened. that's the american dream right there, folks. and then they wonder why 25,000 people come to my rallies and why 10,000 people and 10,000 and 5,000 when we have a room that holds 200. and why -- you know, i mean even your meeting. it was supposed to be one third this size and look at it. but look at this. and, to me, that says so much because it's home ownership. that's the american dream. and it's the lowest it has been in 51 years. so i think that's a pretty sad thing. i hope you know i had that chart not necessarily made for you, but i figured it would be a good one to pull out. okay? [laughter] nearly 12 million people, more americans are dependent on food stamps. and 2 million more latino
americans live in poverty. latino americans. incredible people. they're living in poverty. two million. 58% of african-american youth are not employed. 58%. american households are he didn't $4,000 -- see, this is, to me, so incredible. american households are he didn't $4,000 less today than they were six years ago. the real number is 18 years ago. but this particular group says 16. 16 years ago. many workers are he didn't less money than they were earning in 1970. and you wonder why they're angry. you wonder why they really want a voice, and the voice is us. we have a movement going on. it's been an amazing thing. and the polls are getting very close.
very, very close. it's interesting what is happening. we will create millions of new good paying jobs. going to cross the board income tax reduction. this is one of the things that we have to do. we have to do. we're going to create millions of jobs. now, everybody admits -- you know the 5% number is just a number to make politicians look good, to make the president's look good. not only obama -- although it has gotten actually worse because more people the way they analyze these numbers, more and more people, the number gets lower and lower and people can't find work. giving you up looking for a job, after months you go home, i can't find one, dad. i can't find one, mom. i can't find one to your wife or to your husband. i can't find a job. you go home, and you give up. after a while, you give up. and everybody admits that there are no good jobs. the good jobs we don't have anymore. even the other side. we have jobs. we don't have good jobs.
but you give up -- you give up looking and yet you are considered statistically employed because the numbers are phony numbers. 5%. every time i watch that. unemployment is down to 5%. it's not 5%. it's probably 20 or 21%. some people believe it's higher. but people want jobs, and they quit. they give up looking. everyone's taxes we want to go down. under my plan. three brackets. we're going to have three brackets instead of seven. we're doing a major, major, major simplification. the one company that will not be happy is h&r block. oh, i know people that go and spend a fortune on tax returns because they can't -- it's too complicated. they can't figure it out. many americans are going to pay nothing. now, they're going to pay zero because they're not making enough to live. but they don't want to send -- they're not going to send a tax return.
it cost a fortune. billions of dollars. and they don't have money, and they're not going to pay. so we're going to make that a little bit easier process. hillary clinton has supported tax increases in the middle class for her entire career. voted for higher taxes 235 times in the senate. i thought it was more than that. that doesn't sound -- think it of. she's voted for tax increases -- and, by the way, she's proposing a big one today. in her speech. her teleprompter speech. she's got -- [laughter] [applause] her speeches are so short, though. they don't last long. you know, they're, like, ten minutes, let's get out of here. go back home and go to sleep. [laughter] three days later, she gets up, and she does another one and goes back home and goes to sleep. [laughter]
oh, boy, is isis hoping for her. is china hoping. you imagine china? they come in, you ever negotiate with the chinese? they're tough. they're tough. you have to hit them back with a lot of energy. so now she's planning on other job killing. 1.3-trillion-dollar tax increases, her plan -- 1.3 tax -- think. her plan will tax many small businesses. you folks by almost 50%. enjoy -- enjoy your tax increase, folks. i've cut mine down to 15%. 15% for businesses. [applause] so, no, small business in our plan will be taxed more than 15%. and we'll allow businesses to
expense new business investments, which is nice; right? we'll make average child care expense tax deductible for working families. a very big thing. and a very fair thing. [applause] very fair thing. that was ivonka trump. she thought that was good. she really did. she felt very sorry. she's had three children now, and she thought it was very unfair to working mothers and families what was happening. and i agreed with it 100%. we will eliminate the cared interest deduction. end corporate inversions, and other special interest loopholes. and we're going to repeal the death tax. the estate tax, death tax. [applause] you know, i know so many families that have been destroyed by the death tax. they have a business, and the
business is going along, and the business has a certain value, and they can't make a deal with the government. and they end up losing their business. sometimes that we sell it. and they lose their business or sell it, and the people come in and don't run the business the same way, and they lose their business. farmers are hit very hard. housing companies are hit very hard. especially when you want to keep it going, and you want your children to take over and keep running your business. and it's a very, very unfair situation. and it doesn't amount to a lot of money for the country. it's not a huge amount of money believe it or not. but it is just a destroyer of businesses. the farmers are -- they don't know want to do about it. they go out of business. overregulation, which is a big problem, is costing our economy $2 trillion a year. think of that. and you are a big beneficiary of overregulation because there's nobody other than i
would say the energy industry that's overregulated more than the home building industry. nobody. [applause] we just -- 25%. 25% the cost of a house. i think we should get that down to about 2%. you know, honestly. no, no, honestly. it's ridiculous. [applause] the economy today is 25% smaller than it would have been without the surge of regulations since 1980. i think that's true. so many businesses are knocked out. we will issue an executive order to impose a temporary regulation moratorium on new agency regulations. [applause] very much like governor mike pence, who's a terrific guy, by the way. mike pence. what a good pick that was. he's great. [applause] he is great. he's done such a job in indiana. triple a generating.
low debt, low everything, and low unemployment. when he took it over, it was -- well, it had a very good governor before him too. the combination was incredible. mike pence has done an incredible job in indiana. so i'm really honored to have him with us. he's about an amazing. and he's a big cutter of regulation, that i can tell you. we'll cancel all illegal and overreaching executive orders signed by president obama. [applause] we will eliminate all regulations that kill jobs. we will remove the bureaucrats who only know how to kill jobs, which is true. and replace them with experts who know how to create jobs without regulation. okay? [applause] our goal is to keep jobs and wealth in america. keep them in america. we're not going to lotto them
go to all of these countries thank we're the stupid people. they think we're the stupid people. we're not stupid. we have stupid leaders. and you can't take it anymore. and that's why we're doing this. and that's why i'm running. because i got tired of watching an iran deal. i got tired of watching a sergeant deal. i get tired of watching these horrendous trade deals. i get tired of paying for everyone's military and getting a fraction of what it is what did it's costing us. we pay for the military of many countries. many, many countries. not only nato countries, but other countries. big ones. plenty of money. we get a fraction of what it's costing us. and if asked properly, they'll probably pay. and if they don't pay, congratulations. but we can't do this. this is 40 years ago, this
isn't 30 years ago. we're going to owe $20 trillion very soon. and we have to build our country again. we have to rebuild our infrastructure. we've wasted $4 trillion, probably more than that. somebody said five. the other day. i used to say two when i started this whole thing a couple of years ago. two trillion in iraq. we've got nothing except for death. and taxes. we've got nothing. we have less power now in iraq than the woman sitting in the front row who's never been to iraq. okay? we have no power in iraq. we have no power in iraq. we've given iraq to iran. you know, iran made the deal for the 150 billion, they get back the 150 billion, and i always say what a deal they've made. that's one of the great years. actually about a year ago i amended that.
because for years and years they were fighting. iraq and iran. but their military was almost identical strength. and they fight. they like to fight. great. great. we should have never been there. and i said don't go there. i was a civilian, nobody cared. but i said don't go there. you're going to destabilize the middle east. but they fight and fight and fight. and then sadam hussein would drop gas, they would rest and then go back to fighting. and then we obliterated one side. and then as sure you're sitting there, the greatest deal of all time is that we gave iraq to iran. okay? that's what we really gave. forget the 150 billion. so iraq has some of the greatest oil reserves in the world, and we handed them iraq. we handed it to iran. and we made iran a very powerful -- they were struggling. they were dying two years ago
with the sanctions and the problems. we made them powerful. very powerful. we gave them a path to newar nuclear weapons, which they'll have much sooner than people think. i'm telling you. we have incompetent leadership. incompetent leadership. and this is not what we want. and it will change if i'm elected president. believe me. [applause] so our goal is to keep jobs in america. our goal is to keep wealth in america. we need wealth. a woman came up to me. she said mr. trump, i didn't like the way you said we have to be rich again. i said i don't like it either, but we have to. we want to save social security, we want to save our industries, we want to save people, we want to save medicare, we want to save a lot of things. you have to have -- you have
to bring back our wealth. our wealth is being dissipated. we're in a bubble. we're in a big, fat ugly bubble. and she said i understand it. but could you say it nicer? i said i promise. [laughter] hillary clinton wants to tax and regulate our economy to death. so just remember, if you vote for hillary clinton, and if she gets sent, it's hard to believe she would get in with all the dishonest things she's done. hillary clinton wants to tax and deregulate our economy to death. if you were a foreign power looking for weaken america, you couldn't ask for anything better than hillary clinton as your president. so i only say this. i have a very, very simple policy. it's called america first. we're going to put america first. we're going to make trade deals that are good for us. [applause] we're going to make trade deals that are good for us. not good for some other country.
we don't put america first. and the reason is because the donors, special interest, and lobbyists have total power over our politicians. they have no power over me. i'm going to do what's right for our country. and we're going to do it in a very friendly manner. we're going to have great relationships. better than we do now. i mean we don't have good relationships with mexico. we don't have good relationships with china. we don't have good relationships with most of these countries, and they do nothing but take advantage with us. we're going to have great relationships and it's going to be a two-way street. we'll have actually better relationships. so i only say this. i have great respect for homebuilders. i have great respect. i grew up with a homebuilder. he's a really good homebuilder. and i used to sit at his knee with blocks, and i would watch my father or listen to my father negotiate on the phone
with the plumbers and the sheetrockers and the electricians and all of them. and i learned. he didn't say listen to this. this is the way you negotiate. no, i just listened for so many years. that by the time i was 14 or 15, i think i could build a home as well as i could build it today. i learned tremendous things from a homebuilder. from a very good homebuilder. from a man that loved what he was doing. he didn't like taking vacations because he got bored. he wanted to build another house. it's true. he loved -- and like you people. you love -- you can't wait to get back; right? you think get trump off. i want to get back and build another house. [laughter] but i learned from a man. i learned so many things and now we're doing well. and who would think -- this was never in the cards for me. i mean if it were, i probably would have had a little sor softer path.
i wouldn't have spoken to howard so much. and had fun. but people get it, you know? but, look, we're living in the real world. people get it. they really get it. but i'll tell you what. i learned what i have, and i created a phenomenal company. one of the best. i have some of the greatest real estate assets in the world right next door dural is an example. but i learned what i had and what i have from a homebuilder. a homebuilder caught me everything i know, essentially. now, i've learned, and i've grown, and i've done things, and he would be very proud to see that we're running for the presidency, and we beat a lot of people to get to this position. but i was just saying when i came out, i just thought as i walked out, i learned so much, so much from a homebuilder. there's no greater thing you can do.
you're great people, i know so many of you. and i really know all of you because i know where you come from. i know your mind-set. you are amazing people. you can do amazing things. now go back and build homes and create jobs, and we will make together america great again. thank you, everybody. thank you. [cheers and applause] thank you. thank you, everybody. stuart: that is donald trump obviously speaking to the national association of homebuilders. the speech last about what? 20, 25 minutes. now, he was off prompter. there was no teleprompter. there was no firm script. i want to deal with that, first of all, because, in my opinion, that was a rather subdued donald trump, even though he was not using a prompter. monica crowley. >> i think this was one of the best speeches i've ever heard donald trump give. what you saw right there is donald trump who has learned and also who has had the fear of god placed in him last week or over the last two weeks by the polling.
he wants to win this race, and he understands that this is a different kind of race now that he's in a general election campaign. what he did there was focus on the obama, clinton -- stuart: he did but he was subdued. he didn't make an outrageous remark off the cuff. >> he was soft-spoken and what you saw there was a exercising emotional intelligence. he was reading the room. he needed to have a different kind of tone with a different kind of message. if that's the donald trump we get between now and november, he will win. stuart: judge napolitano has faithfully sat here watching the whole thing. i think that was fairly subdued. he didn't go off message -- nothing outrageous. >> one of the best speeches i've seen him give. a more effective speech than the speech he gave at the republican national convention. a more attractive, a more logical, a more self restrained donald trump. and right on the message do
you really want a third obama term in the form of what mrs. clinton will do to the economy? that's what -- that audience wants to hear. that's what will carry the day for him. stuart: can we just roll that sound byte where donald trump will that chart, it was about home ownership, and he put it up there, and he really related to the audience on that base. can we roll that tape, please? we've got it? yeah, roll it, please. >> so here's a chart. most of you can see. you don't need very good eyesight to see what's going on. so here's obama. and here's the end. [laughter] he's not finished yet. stuart: related to the audience. i thought that was kind of funny. great use of a graphic. i mean -- >> donald trump's critics really underestimate his intelligence, his emotional intelligence, his ability to use rhetoric, and his ability to use humor. that was very funny. the guy can be very funny. i want to see more of that
heading into the fall campaign. especially self deprecating. >> this was not a speech you couldn't wait to end because of the shouting and screaming. this was a logical explanation of where he is at this point. stuart: not outrageous. well, the democrats have picked up on the -- what mr. trump said about -- >> isis. stuart: isis is hoping for hillary clinton. clinton campaign spokesman says trump's remarks tying clinton to the islamic state are a false claim. that's not a very strong -- >> it's a very weak push back because they know that trump is onto something when he says president obama is a founder of isis, mrs. clinton is a founder of isis. they with drew american troops from iraq precipitously after the search had won the war that created a vacuum into much isis -- that i haven't statement also goes on to say that donald trump is echoing the talking points of vladimir putin.
once again trying to tie putin and trump together. stuart: now, we have to take a break. but i want to bring something to your attention. while donald trump was speaking, the stock market went up significantly. now up 130 points. i do not believe that there is a connection between trump speaking and the dow rally. the dow is rallying, i think primarily -- ashley: it didn't hurt. stuart: it didn't hurt, but i think primarily because the price of oil is up 1.52. firmly above $43 a barrel. we're back to that, the webster ratio. oil up, stocks up. back with more of this spectacular performance in a mot i have asthma... ...one of many pieces in my life. so when my asthma symptoms kept coming back on my long-term control medicine. i talked to my doctor and found a missing piece in my asthma treatment with breo.
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with our base policy. call for a free quote today. liberty stands with you™. liberty mutual insurance. . stuart: i do want to bring this to you. it's donald trump speaking moments ago about hillary clinton. roll tape. >> her speeches are so short, though. they can't last long. you know, they're, like, ten minutes, let's get out of here. go back home and go to sleep. [laughter] three days later, she gets up, and she does another one and goes back home and goes to sleep. [laughter] oh, boy, is isis hoping for her. is china hoping. . stuart: well, i think we'll bring in charles kurt, washington times political analyst.
charles, you've got 30 seconds to tell me how you reacted to that speech. >> i thought that part in particular was one of the funniest lines i've ever heard him give. i thought it was a terrific speech, a very cool speech, when but also very personal. and when he was talking about his father, talking about the builders and how much he respects people who build things in america, i thought that was a -- i thought that was a home run, and i hope he returns to that because that is an optimistic winner in an auction like this. stuart: thank you so much, charles, i'm sorry to cut this short, but i have to pack everybody into this. emily is with us. young america's foundation, the chair thereof i believe. emily, you've got 30 seconds. you tell me your response to what you just saw from donald trump. >> yeah. absolutely. you know, i think there's some key things from the young people for the millennial generation out in that speech actually. he talked about the youth unemployment among african-americans. youth unemployment in general is around 16%. if he's quoting the youth vote, that's a great place to start. it's tarred high under president obama.
young people are unemployed, they have high student loans, if he can corner that and speak to them on those issues, he's going to do well. stuart: ten seconds. did he make you laugh, emily? >> absolutely he made me laugh. he always does. stuart: okay. laughing with him, not at him. again, i'm very sorry it's so short. a lot to pack into this show today. thanks, emily. monica crowley, make some final points, please. >> if he stays on the economy, keeps this tone, rallies are a different kind of event where you're going to see more of the sort of raw, authentic donald trump. but if he can keep on this and show that great sense of humor, like, when he laughs into the microphone, the audience laughs with him. this is truly a winnable race for him. stuart: and he was personal, bringing up his father watching him -- ashley: very likable. self deprecating. could i say presidential? >> monica makes a very good point. not all audiences would warm to the softer more rational tone that we hear here. many of his audiences want
that stuff. so he has rho-to-recognize there are millions of people watching him on television as opposed to the 10,000 in the arena where are the votes? >> and that's what i mean by emotional intelligence. and this is one of the keys to life for anybody. know your audience. read the room. know what's going to play. stuart: and i think i got the tv audience. lots of different channels tuned in. >> what did you like best about this? . stuart: what did i like best? i liked his use of humor, i liked his engagement with the crowd, it wasn't a subdued tone, but it was a more reflective tone. i liked that. and he didn't say anything truly crazy. ashley: no. stuart: he didn't allow the left. he didn't allow his opponents to just take something and run with it. >> can i say the significance of him hillary about to fall asleep. they're about to demand medical records, and she does not want to release them. final points from the judge. that's good. more varney after this (man on radio) but if it isn't refreshing...
we've had donald trump about 20 minutes off the cuff speaking right out there. he was funny and engaging. ashley: great delivery. perfect. stuart: and the dow industrials are up about 130 points because largely the price of oil is up a buck 48 at $43 per barrel. charles payne, it's yours, sir. charles: thank you very much, stuart varney. donald trump is talking up his plans of the economy, moments ago stuart just mentioned in what some are calling a scathing address the homebuilders association. meanwhile hillary clinton said to deliver her economic rebuttal. she is going to make some very big promises but the question is of course how is she going to pay for them? all i can tell you, hold onto your wallets. this is cavuto coast to coast i'm charles payne in for neil cavuto. critics already doubting her fixes, however, and questioning really how she's going to pay for them. among them of course is the campaign's been calling for the largest investment and what they call good paying jobs since w