tv Varney Company FOX Business November 10, 2016 9:00am-12:01pm EST
>> i'm excited about the roll back, dodd regulations roll back. dagen: to the clinton supporters, it's know about i, me, you. it's about the country. pull yourselves together. maria: stuart, over to you. stuart: sour grapes and the left lost and they can't handle it, can they? good morning, it took them only a few hours to recover from shock and took to the streets. same old name calling, trum sp a racist, trump is a sexist. and in seattle, they chanted, "not my president", yes, he is. get real. the media is having had a hard time with their defeat, ruinous victory they say, really? and the new york times, ten steps for trump trauma. i believe it's 12 steps for
alcohol and only 10 to get off trump. wait, overseas it's worse. foreigners are horrified. trump-apocalypse. and it's about trump's growth plan, stocks here going up again. overseas, too. america could lead the world out of its slowdown. you know, the earth moved, didn't it? suddenly, we're talking growth, private enterprise and tax cuts, what a switch. politics and money, that's what we do. "varney & company" is about to begin. ♪ not my president! not my president! >> hate to break it to you, kids, but they're chanting there "not my president", yes, he is. thousands protesting across the
country. as we said they chanted "not my president", new york, chicago, portland, there were fires in some places in the streets. protesters blocked a highway in los angeles. all of that last night in reaction to trump. well, let's turn to your money, shall we? and let's call it a trump rally. stocks will open higher again. the world's market rapidly reversing, the initial shock selling. global green arrows today. look at this, the dow is a scant 46 points from all-time record closing high. that was 18,636 back in august of 2015. very, very close to that record closing high. all right, that's where we are. we're going to open up 90-odd points this morning and going from there. donald trump says, he will put some juice into the economy, with a massive trillion dollar infrastructure plan. that's just part of it. he first mentioned it on our program. remember this? >> we're going to have to go
out with a fund, we'll get a fund, we'll make a phenomenal deal with the low interest rates and we're going to have to rebuild our infrastructure. we have no choice. stuart: who would put money into that fund? >> excuse me? >> who would put money into the fund? >> investors, people, the citizens would put money into the fund and we will ruild our infrastructure with that fund and it will be a great investment and it's going to put a lot of people to work. you know, we need jobs because if you look, you know, the real number is not 5%, it's probably closer to 20% because people have given up looking for jobs. stuart: well, okay. let's move on from there. who is here in kings college business professor, brian brenburg. the big picture, i think we're looking at a massive stimulus, if you cut taxes for individuals and corporations, and infrastructure a billion in ten yooers, massive stimulus shift. >> no question about it. i don't think the issue is
stimulus. we've had stimulus in 2009. 8 trillion in deficit spending since obama has been in office. stimulus isn't the key here, it's shackling entrepreneurs and businesses. regulatory reform, tax reform simplifying things, that's what cuts the economy again. the keynesian model-- >> when i'm saying stimulus, the infrastructure plan. the tax cuts on businesses and that's stimulus of a different kind entirely. that's where the growth will be. >> the growth-- >> hold on. the left-hand side of the screen, donald trump leaving his place in manhattan and jump on board trump one i guess you'll call it these days and going to washington d.c. and meet with president obama, should be meeting him around 11:00 and we'll take you there at that time. back to brian as you watch that
motorcade, gigantic thing going through manhattan. brian, i'm calling this the trump rally. on the back of all of this public and private stimulus. have i got it right? >> no, it's a trump rally. the market-- they watched his acceptance speech and watched a man who could be reasonable in office, could do things to spur growth in the economy, no question about that. the tax cuts could be good and the regulatory reform good. the infrastructure spending is politically poplar on the left and right, by the way, why is that? politicians love spending money on roads and bridges. there's so much waste here, it's not the thing that's going to get the economy growing. stuart: to my second point, you get growth in the united states. >> yeah. stuart: he think you get serious growth in america, i think that's enough to lift the world's boats, so to speak, which are currently in the doldrums. >> the world needs 3 to 4% growth. you can do that with tax reform and do that with regulatory reform.
so i absolutely agree with you, the world needs this, i'm just saying that infrastructure spending is much more popular with politicians than it is effective to boost jobs and growth. stuart: i think you make a very fair point. ash. ashley: it's interesting on the surface it would work. you're putting these people to work and make new roads and bridges, but bottom line, it's the funding of it. i like the bond issue idea. i really do, i like the private sector part of that. stuart: trump says you establish this fund, you bring in private money, he'll issue you a bond, it pays interest. you look skeptical. you don't like it? >> how else would the money be used if it wasn't used for infrastructure? again, it's-- >> coming from the private sector, i'm investing in it. >> are you confident we are going to spend money where it needs to be spent. drive across the bridges in the city it's politician's names on it. stuart: i've got more confidence in the trump organizing spending
infrastructure main than barack obama. >> people organizing the spending, they wants their bridges object roads liz: i made a funny and you missed it. stuart: you were talking over me liz: i said like uzbekistan and politicians names on bridges-- okay. stuart: a day of levity two days after the election, why not? it's a meeting that few expect today happen. a couple of hours president-elect donald trump will meet barack obama at the white house and we'll take you there. look who is here. arriving the last minute, she gets air time elsewhere. eboni kay williams, democracy will work and transfer of power, donald trump is going to trash barack obama's legacy. >> that's one reason.
and these two have a history of bitter rivalry. the president, this will be his last stand as a leader. in my opinion, this is the last great thing he can do for his legacy is demonstrate successful transition of power. that's very, very important. i also think these two men are positioned uniquely at this point, stuart, obviously. you know, donald trump and his supporters have every right to be incredibly proud. accomplished a daunting feat. however, he's not just the leader of his supporters, he's the president for all of us and he said that in his acceptance speech so i think an image of the two of these men, barack obama and donald trump appearing together today will go a long way for bridging this gap. this very wide gap that exists between two supporters and it will be necessary in order for us to come together again. stuart: that's a good point. stay there, please. more for you later. >> wouldn't miss it. stuart: trump already has plans to meet a foreign leader, i believe it's the president of
mexico. ashl: solutely. enrique pena, and of course, mr. trump met with the mexican president during the campaign and the mexican president took a lot of shellacking in the media for doing that because mr. trump had made some disparaging remarks about mexico. the mexican president got criticism for that, but he's called mr. trump yesterday congratulating him and says we are going to meet to talk about among other things, security issues. before mr. trump takes office. stuart: you know there's a video circulating with mexicans racing to climb a wall. and anyway, let's get back to the markets. very close to a record high for the dow industrials. i think you've got to say it, the trump rally continues. we're well above 18-6 as we speak. attention hunters, you might want to see this, a hunter in tennessee bagging what could be a world record deer.
shot a buck with a muzzle loading rifles, only one shot. 47 point rack, 312 inches across and the rack will need to dry for 60 days before the official measurement, the antlers are big, is it not liz: i don't like that story. stuart: and liberals, some are calling crying classes, and craft class, one professor letting distraught millennials get pets. this is a story i really like, kellyanne conway, the trump manager first woman to run a successful presidential campaign. i bet it's the first time you've heard that. she gets no credit because she is a republican. and donald trump promising to repeal and replace obama's signature health law, the two will meet at the white house later this morning. ladies and gentlemen, this could get awkward.
but we'll take you there. more varney in a moment. month here. you should have quit while you were ahead. 32 years at this place and i've got 9 days left before retirement. look jim, we've been planning for this for a long time. and we'll keep evolving things. so don't worry. knowing what's on your mind and acting accordingly. multiplied by 13,000 financial advisors. it's a big deal. and it's how edward jones makes sense of investing.
>> this is interesting. that's ronaldo, by the way. that's a forecast player, that guy right there. he plays for real madrid. he's got a new deal with nike. how much? >> 1.2 billion dollars. that's a lifetime deal with nike. he's been with nike for some time now. and by the way, signed a five-year deal, renewed contract for $280 million over five years, that's the pocket change. this is the third that nike has signed on the lifetime deal like this. the first michael jordan and the second lebron james, a rich man. stuart: and i'm laughing because when we went to ronado.
the look on liz's face, billion dollars liz: what we call the total package. stuart: now, now. and macy's outlook said they're looking brighter even though so-- >> and kohl's, a couple of retailers looking pretty good this morning. back to donald trump. >> he's promising to b joining us now is republican congressman chris collins, an early trump supporter, first trump supporter in congress, i do declare. you're from the buffalo area, sadly depressed. tell me how donald trump brings back those blue collar manufacturing jobs to investments by companies that will be investing in
productivity and growth, et cetera, et cetera. that's one piece. the other is eliminating a lot of regulation that have been strangling business, costing money, also repealing exponential job growth that we need. so i believe we'll end up with some level of tariffs and that will be the levelling that we need so that the president can't move those-- >> and any talks of tariffs, trade wars, really, really upsets investors, they figure a
trade war is coming, that's bad news. we'll cross that bridge when and if donald trump raises tariffs. and i want to talk aboutyour co what's going to happen to it? >> depends when you say next year. i think what we're going to have to do. we'll repeal this right away. we'll put the repeal on obama's desk and he vetoed it, we know we'll be able to do that. the replacemenhat puts together the replacement plan, but let's face it, people right now are signing up for their health insurance for next year. health insurance companies have designed all of these plans to meet the minimum benefit package that we're going to change and bring back to personal choice. i think there'
but i do think once we repeal it we're going to have to ease through next year in order to really start in a robust fashion for 2018 'cause the market's going to have to adjust and the like. stuart: yes, it is. >> if we called it that kind of transition time frame, i think that america would understand that, but we could have some new products coming out quickly. stuart: i think you've got about a year, year and a half to deliver more blue collar manufacturing jobs and real difference in health care. chris collins. >> i agree with you. stuart: you were the first in congress to go for trump. welcome back to the program. good to see you, sir. good to be with you, sir. stuart: trump's win breathing new life into the keystone pipeline. transcanada, the company behind it looking into ways to work with the trump adminisation. lefty economist paul krugman
writes a blog post on election night saying that stock markets will never recover from a trump economy. looks like he got that one wrong. you can't predict the market. but through good times and bad... ...at t. rowe price... ...we've helped our investors stay confident for over 75 years. call us or your advisor. t. rowe price. invest with confidence.
to $44 a barrel. the market could give a hoot, it's all about the election there. how about the price of gold? that's going up. worries about trump are receding so gold is back to 1275. now, i bring you a quote from the new york times opinion writer paul krugman. here it is. it really does now look like president donald j. trump. by the way he wrote this on midnight election night, late at night. and markets are plunging, he said. the disaster for america and the world has so many aspects that the economic ramifications are way down my list of things to fear. still, i guess people want an answer. if the question is, when markets will recover, a first pass answer is never. that's the professor of economics. i still think he's there in princeton, a man so consistently wrong, it's not funny, but brian brenburg who is often right is with us now. where did the professor of princeton-- >> don't write e-mails and blog posts when you're angry, lonely
and tired on election night. that's the first problem. he didn't have a chance to listen to donald trump the next morning. we saw donald trump the next morning was somebody who is reasonable and humble and a passport that people could get on board with. wait to respond until you see what the man will say. stuart: professor krugman will never ever have anything nice to say about anything who is a republican and-- >> consistent. stuart: he gave enron a clean bill of health. i digress. eboni williams is with us, i've got a point to raise with her, kellyanne conway. that's laguardia where donald trump's plane is about to take off to meet with the president. i mean, he's just arriving at laguardia. kellyanne conway, the first woman to run a winning presidential campaign. why have i not heard about this?
a woman runs a first time ever winning presidential campaign. >> kelly anne is brilliant. and i remember when she was brought on and giving the message of donald trump and did it better than anybody i've ever seen and i believe it's sad that as women, you know, i think a lot of women across the country, that were hillary supporters are grieving her loss, but we do need to look for things to celebrate and kellyanne conway, his brilliance and success, i believe she's the first woman to head a presidential campaign. stuart: a successful one. she's a republican. . ashley: because that donald trump is-- >> he's polar idesing, but kelly ann goes on the view and it's not friendly territory for her and it's still successful. stuart: i don't think that donald trump is on that bus. that's the press-- >> no, that's not his style. stuart: the president-elect, the president designate is not on the bus.
there's the motorcade. that's it. ashley: that's more like it. stuart: trump delivers the victory speech, thanks hillary clinton for her service and hillary clinton concedes and says to rally around around, and how does that sit with the voters. we thought we might hit a record today, watch your money grow with us.
>> yes, we just broke into a commercial, we don't it very often, but we did it for this. donald trump's motorcade just arrived at the trump plane at laguardia airport. he's going to get on that plane, climb the stairs and off he goes to washington d.c. he'll land, another motorcade will take him to the white house and he will have face to face meeting with president barack obama and the president designate donald j. trump will shake hands with him. democracy in action, it works. now, my eyes are not good enough to tell whether the guy at the top there is the president-elect. i don't believe it is.
i think that's aides with the briefcases. ashley: he's carrying bags, i don't think that donald it-- >> you never know, he's a different president. this man may carry his own bags. no, he's not. >> his wife. stuart: that's his wife melania, she goes on board. we're bringing you this because this is an element-- >> there he is. stuart: there's donald trump climbing the stairs and you've got to say this is an element of history and that's why we're bringing it to you. that's why we broke into a commercial. this is costing us money. we're doing it because he's on his way to shake hands with president obama. that's a very big deal. these two guys have been at each other's throats as they ran up to the election. there's some very harsh language between the two and donald trump is going to trash the president's legacy, but they will shake hands. ashley: because that's what you do. stuart: that's what you do, exactly. and all of these protesters in the streets saying democracy doesn't work. the left side democracy doesn't work. yes, ladies and gentlemen, it does.
top left, donald trump getting on his plane. top right, the white house, that's where else's going. they will hold that meeting and we will see them shake hands. i can't stress enough the important symbolism of the handshake. ashley: it's very important and let's not forget it was a brutal battle between barack obama and hillary clinton. they shook hands and made well when-- at the end of that fight. we know the harsh words said between barack obama and donald trump, but to your point, the symbolism of that handshake and the togetherness is very important. stuart: it was only days ago, it was on monday when president obama was saying, he's not fit to be president. ashley: right, right. stuart: and he was-- president obama was linking donald trump to the klan. that was monday. ashley: yep. stuart: it's now thursday. ashley: whole different story now. stuart: they'll shake hands. lizzie, what have you got liz: trump will meet with house speaker ryan and mike pence meeting with paul ryan and joe biden, by the way. stuart: i think most of them are on board the plane,
certainly donald trump and his wife are so we'll now switch to wall street where in 14 seconds the dow jones average will begin trading. we're expecting a modest gain at the opening bell. we're calling it the trump rally. three, two, one, bang! two days after the election and trump's victory. we're up 30 odd points. look at the level. 18,634, that's very close to the closing high for the dow. all-time high. you know? we're moving up. trump rally. now that we're up a third of a percent there. we're up a third of the percent on the s&p 500 and as for the nasdaq composite, where is that, he asks? up two-thirds of 1% and even bigger gain for the technology area. how about oil? no relevance to the market, the stock market. $44 a barrel. i don't think there's any relevance.
how about gold retreating from 1300. dead flat on the gold market this morning. here is something of interest, the 10-year treasury yield, look at that, oh. 2.1%. first time in more than nine months we've been above the 2% level. that indicates future growth for the american economy, i think that's what that indicates. that's an important number. joining us today, ashley webster, elizabeth mcdonald, larry levin, brian bremburg and ed. we've got to go with what i call the trump rally. am i right to call it the trump rally? larry to you. >> absolutely. it's a trump rally. the market was down just during election night. so, absolutely because of trump. i think we'll finally see people believing in this economy as trump starts the make the move and we'll see more highs and it's for a good reason, low interest rates. >> larry, a couple of guys are
behind you with red hats, make america great hats. is that-- >> yes, it is. stuart: yes, it is. [laughter] >> he positioned himself deliberately there, i know he did. how about you ed, a trump rally, yes or no. >> it's a trump rally, but it will be short-lived. you've got to remember that this economy has been stuck in rigger mortise for five or six years. and in order for the world economy to grow, the u.s. has to grow. anything that trump is going to implement and gets passed it's going to take a while to take effect. the market is 15% overvalued based on expected earnings and i expect that to come lower. i'm thrilled that trump is elected, but it's going to take a while, the big shift for the world economy to turn around and it's not going to happen overnight. stuart: fair point. what do you think. >> trump acceptance speech rally, they like what he said, but change depending on what he says the coming days, weeks and months.
stuart: i want to go back to the technology stocks. we've been covering them for a long time. recently, specifically yesterday, most of them were down, down pretty big, actually. and now, they've recovered somewhat today, but not that much. i mean, look at that. amazon is up only a buck. apple is down at 110. facebook at 123. microsoft is at 60 and want to go around the block. why are the big tech names not rally with the rest of the market, larry first. >> and when facebook talked about projection, they weren't good. they're the leader in the space, them and amazon. i believe stuart, these are buying opportunities. you might want them lower, but-- >> ashley webster. ashley: the problem is the international exposure and tough talk about donald trump where are you making these components and big tariffs on americans companies that make
their products overseas and brings them back, that leads to uncertainty. stuart: what do you say? >> supply trade issues. and that's a problem for the companies and why they're trading down liz: fed likes means that international looks worse, what happens when the dollar strengthens. i agree with ed and the other gentleman, sorry. stuart: big selloff in amazon and facebook and taken them down and that's a reverse of what we've been seeing for s so long. there are many, many stocks which did move higher on the trump win. defense stocks were up big time yesterday. where are they today? >> up more. boeing, general dynamics, rate raytheon. and martin mayorieta, and
vulcan. i've got infrastructure names for you. i'm not sure, but caterpillar is the one to watch. at another new high. another 1.6% on the upside. how about health insurance? we've got a mixed bag performance there. today, what you're looking at there is the-- okay, health stocks, they're all of them up today. i'm sure that's got something to do with obamacare. i'm not sure what. but today, they're up. can you explain this, brian? >> well, no. >> no, he can't. >> confidence. back to you. stuart: breaking news, the thing is moving down the runway, ladies and gentlemen, as we follow this closely toward washington d.c. >> is that trump one? is that what we're calling that? it's big letters, even i can read that. >> and put me up the prison stocks, it's an ugly name. prison stocks. correction corporation of merckx, up, gio group up.
by the way they were up yesterday. ashley: because donald trump is a strong law and order guy, is that-- >> hillary clinton wanted to shut this sector down. she threatened it. stuart: now you're talking. that's why they're up. okay. and ed butowsky, do you like any names from all of the sectors that we've just gone through? >> well, i mean, the sectors that you hit on are those infrastructure stocks and also the defense stocks because they have been so low for so long, they were a great value. so, you know, as elizabeth said they're pushed up based on what trump's forecast where he's going to start spending money and that's where i would put them. i would not put any money into growth stocks right now, that get most of the earnings from outside the u.s. i'd stick with the value companies if you're putting money in this market. stuart: brian, repeat that because you don't like stocks which are heavily overseas, right? i mean global-- >> we don't know what trump is going to do with trade and that can disrupt supply chains and
that's the issue here. stuart: i understand, but i'm not sure i go for it. what are they spraying that plane, i can't believe deicing, it's not that cold. is that a precaution? >> interesting, a salute? >> maybe we'll find out. sales of the chevy cruze are down and general motors has announced its first round of layoffs since 2010. the cruz is a very small car liz: that's right, the small car factories are shutting down. one in michigan, one in ohio. 2000 people being laid off. the cruze sales are off a fifth for the year. overall auto sales are coming in strong at 17 million. back in 2010 they were at 10 million. question is what will president trump do when it comes to tariffs on factories overseas. >> it was 40% the small car production in mexico. that's a tough one for all.
stuart: a small car. very small car. the dow up 137, 140-odd points. 18,227. we're 470 points from 19,000, lady and gentlemen, and we're up again today. shake shack, okay? profit doubled and it raised its sales outlook for the year. that's a nice move for that stock, a 10% gain. taser, the profit more than doubled, a fast growing video and body camera area. 15% gain on taser. big job. gopro, why is it up? oh, that's soda stream, don't have any news, i don't know where it came from. gopro has recalled its drones and go figure. i'll never work the stock market, worked at it 40 years and never get it right.
and start with macy's, their sales were actually down, but given a rosie forecast so the stock is up. same store with kohl's, big gains because of cost-cutting apparently, a 11% gain there. now, the ceo of starbucks, and mr. schultz, he says he was stunned by trump's win liz: he sent out a staff memo to 170,000 employees saying it's time for compassion, it's time for unity, he is stunned and shocked that donald trump won the presidency, to the social media reaction not good. they're saying stop the ideology at the latte counter. ashley: get another cup. stuart: the left wants us to unify. they want -- they were the divisive people and they're the ones that divided all ofhese years and mr. schultz says we've got to come together liz: the curious statement, we've got to come together in a collective spirit.
stuart: we're talking over you, because they lost. let's not forget, they lost. marijuana legalization around the country, scott's miracle-gro went straight up because marijuana is legal in four or five extra states. will you give me the details. ashley: i love this story. scott's miracle-gro is selling the hydroponic equipment you can use to grow your own marijuana inside the home. and it has been a huge profit-maker for them. their stock is up 34% in the last six months. almost all of that driven by marijuana. and you know, it's funny, the ceo of the company jim hag adorn says it's the biggest thing i've ever seen in lawn and gordon. stuart: and lizzie has a sour look and her face liz: no, i'm laughing. who knew when the animal spirits are unleashed even in the pot industry.
stuart: who knew that scott's produced miracle-gro which is good for marijuana. who knew? well, we just found out. i've got to say thank you to scott, brian and ed and thank you for joining us, great performance on this thursday morning and the dow is at a new high. a high of the day, by the way, up 151 points look at the other part of the screen. the other part is dominated by mr. trump a he is plane on the way to d.c. happening the 11:00 hour, president-elect donald trump is flying down to d.c. to meet with the president and white house. and yesterday the tone was cordial and polite. and we'll see how it plays out. there will be a handshake, i can guarantee that. ♪ big airliner ♪ ry, what'd you got here? this bad boy is a mobile trading desk so that i can take my trading platform wherever i go.
busted out of another commercial break. we're spending money. that's donald trump's plane running down the runway, he's got some priority, he doesn't have to wait at laguardia. off he goes, we'll wait until you takes off and back to normal programming resumed. off he goes, on his way to d.c., as we tell you he will meet today face-to-face with president obama. wheels up, off he goes. he's in the air, that's his plane, i think it's one of several. just made it there before the ocean and off he goes, headed down to d.c. about a 40, 50 minute flight and he'll get priority. he lands and the motorcade goes to d.c. you'll see h arriving at the white house. you will not see him in the private conversations with the president, but you will in almost certainly, you will see the handshake because that's democracy. ashley: yes. stuart: you've got to show a peaceful transition of power, nothing wrong with that. ashley: no. stuart: arrive on the top right at the white house shortly. ashley: i'd love to be a fly on thel for the private
conversations, they will be civil, but a lot of water under the bridge. stuart: a lot of water under the bridge. ashley: but unfortunately that's the way it is. stuart: this is democracy, it works, it works, it's a great thing and now look at this, please. the dow is at its all-time record high, high on this day, highest ever. 18,749. one individual stock for you, soda stream. surprising there. they're focusing on sparkling water, not soda and helping their bottom line, profits up-- i'm sorry, the stock is up 15%. remember the keystone pipeline, that was a project really halted by president obama. maybe a comeback for that under president trump? liz: transcanada saying we're looking and evaluating ways to engage the new administration on the benefits of job and tax revenues the keystone pipeline brings to the table. watch this, president obama approved ten-- the equivalent of ten keystones, meaning pipelines under his administration and
there are two million miles of nat gas and oil pipelines already in the united states. i mean, if you accept-- >> he didn't want that one liz: he didn't want that one because the greenies were against it and then saying bringing pack iranian oil in the market and what's wrong with canadian oil? >> i'm wondering if they'll still build it with oil at $40 a barrel liz: 42,000 expected jobs. stuart: white evangelical voters really came out in force for donald trump. 81% of the evangelicals voted for donald trump and 16% went with hillary clinton. look who is here, national coalition pastor darryl scott. always a pleasure, welcome back. >> it feels good being here today especially after tuesday. stuart: i'll bet you. okay, you can smile, that's okay. this is "varney & company" and you can smile. what about black evangelicals, where were they? >> they were over on the
democratic side. most black mainline denominations went with the democratic party. not the southern, but national baptist, church of god and christ, a & e church, most cast their lot with the democratic party. to me, unfortunate, i invited the heads of a number of these denominations to meet with mr. trump back before the primaries. they refused the invitation, didn't come to have a sit-down to hear what he was saying and as a result, i think they missed a tremendous opportunity to be part of something wonderful. stuart: did you catch some flak yourself, pastor, within your community and your church. >> oh, yes. stuart: most people say oh, what are you doing? >> yes, i was turned on by the black community. i was turned on by the black church community. i was called every derogatory racial name you can think of. i've been an advocate for mr. trump and he'll give me a
willing ear. and there are initiatives that he's looking favorably and positively at. so, yes, i received a lot of criticism, but i'm built for it. i can take it. [laughter] >> i believe you're right. >> i'm a fighter by nature, you know, no big deal. a lot of it was funny and it was unfortunate, but you know, it's over now. stuart: okay. now, i want your reaction to the protest last night. there there's real unrest, there was some flag burning, not going to put it on our air, but it happened. i want your reaction, pastor, to what we saw in very many cities last night? >> to me the reaction is a result of sour grapes, but sour grapes on the part of the media. to me, it seems as if the media, some segments of the liberal left wing media fueled this. you had commentators on air crying and playing the race card. i turned onto another, one of the low rated cable networks,
they were playing the race card the entire program and it's a narrative and they used it to fuel emotions and sensitivities in people. they need to cut this out. it's a fair election, donald trump won, don't try to move on with the racist narrative, he's a racist, sexist. and someone said what should i tell my child? >> tell them that the unborn will be protected and you it he will them that justice prevailed in this past election, and quit trying to fuel this racial narrative. stuart: by the way, democracy works. >> yes. stuart: we will see later on our first african-american president shake hands with donald trump, and that's democracy and we love it. pastor, always appreciated. >> god bless you.
thanks for having me. stuart: anytime, young man, yen time. -- anytime. and 18, 756. the trump post-election rally is holding for now. liberal lunacy on campus, i've got it for you. one at yale said students don't have to take mid term exams if they're upset over donald trump's win. oh. 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. once-daily breo prevents asthma symptoms. breo is for adults with asthma not well controlled on a long-term asthma control medicine,
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don't wait. call unitedhealthcare or go online now. ♪ >> the headline is lifetime high for the dow industrials. up 160, almost 11%, 18,7 is where we are, no webster ratio today. oil is down, stocks are way up. how about that 10-year treasury. will you look at this. 2.12%. the first time in nine months we've gone above the 2% level. that spells out a lot of growth to come in the economy and that's why that interest rate is up. apparently, some college students are so distraught over clinton's loss that many colleges are making special accommodation. how about yale? an economics professor making the mid-term exam optional for students to upset to take it
and at cornell, a cry-in. at tufts, they're doing arts and crafts. university of kansas, therapy dogs for those requiring extra comfort. turn point founder usa today-- usa founder, and you're charlie clark. >> i'm patriot happy. >> what's the impact of the nonsense we tell you. >> hillary clinton's models were thrown off by one key demographic, college voters. the gap between hillary clinton and donald trump was shorter than anticipated. the exit polls by msnbc. 51% for hillary clinton. 34% for donald trump. that's a shorter gap than mitt romney and barack obama. a lot of the nonsense, they said he'll retail yate against political correctness and i'll
have the chance to travel the country with donald trump, jr. and do millennial outreach. protesters out there and guys come up from the back and i'm with you guys, they'd be quiet about it. the voting booth is the one of the only places you can express your opinion and not get retaliation from it. the exit polls showed young people supported trump more than anticipated. stuart: it's been a long time since he have' been on a college campus. people who need the safe space, people who can't stand the word trump in chalk, is a tiny, tiny fraction. >> a tiny, but loud faction of campuses. college campuses want everyone to look different, but think the same. they think that diversity is skin color, but it's thought. what they're encouraging is suppressing other ideas. look, a man just got elected president of the united states. administration officials have to set up hotlines, safe
spaces, arts and crafts injuries, delaying exams. they're saying we only one one train of thought on the college campus, you know what? i think it's about time. young people are starting to retaliate, this is ridiculous and we want that. stuart: charlie kirk, everybody, running for president in 2040 or maybe 44. and president-elect donald trump and president obama meeting in the white house. and who is calling protesters radical anarchists and should be quelled. what does that mean when you're talking law enforcement? the second hour of "varney & company" is next.
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trump's extraordinary victory. the first pathetic response on college campuses. if students at cornell couldn't handle it, they were offered therapy, at tufts, arts and crafts. at yale, 150,000 a year, and offered no exams. by saying that i'm insensitive. and protesters on the street "not my president" they chanted in seattle. yes, he is. get some more therapy. and the media, can they disgrace themselves more? yes, they can. they're ignoring the bias and ignoring journalists who worked with the clinton campaign. news networks wonder where they stumbled. it's a done deal, donald trump won and get over it.
today he's going to the white house and you'll see him shake hand with president obama. a peaceful transition. democracy works. the second hour of "varney & company" is about to begin. ♪ all right. have we got the 30-year mortgage rate, somebody liz: they ticked up 3.57. you know, the warning from freddie mac is it could go higher as that 10-year continues to go up. stuart: it did go up, it was 3-4 and now 3.57 liz: ticking up since september. stuart: i think we can handle it that level? liz: below 4%. stuart: we've been looking at stocks across the board going up after the trump victory. a couple of sectors, home builders up. gun stocks had a rally yesterday, mixed bag today, but made some significant gains recently. how about defense stocks?
you know, i think i've got gun stocks wrong. they were down yesterday on the trump win liz: yeah, they were. stuart: i'm sorry, everybody, i confused everybody. that's not right. they were down yesterday, back up a tad today, but not much. defense stocks, they're all up yesterday, some of them up a bit more today. these are infrastructure stocks, we're going to show you now, the road builders, bridge builders, caterpillar, another new high. straight up. 93 on cat today. how about the drug makers? they were up yesterday, most of them are up again today with the exception of glaxosmithkline down about a point and a half. and by the way, two dow stocks have hit lifetime highs today, they are visa and they're j.p. morgan, both of them way, way up and that, of course, is helping the dow to a 150 point gain. back to those protests overnight. protesters over trump, trump's win. they turned violent in several cities across the country. watch this and listen to this.
>> we have to fight back. there will be casualties on both sides. there will be because people have to die to make a change in this world. stuart: what? what was that? ople have to di wow. it's come to that. come on in, peter mauricy, university of maryland. do you have to provide a safe space if you say that trump economics makes sense? >> the word is out about me, i don't get dumb football players or left wing activists. i'm not a tolerant person when it comes to nonsense. you ought to come to work and do the exams. i'm offering trump supporters to take two mid-terms and watch old movies in black and white featuring ronald reagan. stuart: you're terrible.
>> well, i'm just trying to be helpful. stuart: we need your economics classes for leftists. >> exactly. stuart: one of donald trump's promises is he's going to bring back the blue collar manufacturing jobs. do you think he can do it? >> well, if he fixes the trade deficit we'll get a lot of blue collar manufacturing jobs back. some who want them and aspire to them, will have to do retraining because they're technical. they would open in reading, pennsylvania, people are in sore need and couple that with retraining would be very appropriate. we could get-- i'm writing a column next week about it and get back 3 million jobs without much difficulty. stuart: when you say 3 million jobs, talking manufacturing jobs, jobs that used to play a middle class wage? is that what you're talking about? >> mostly middle class jobs. if we got tough with china and balanced trade with asia we could get back 3 million jobs and they would be mostly manufacturing jobs. not entirely, but mostly.
when a manufacturing community like reading pennsylvania reopens a factory and wages are $20 an hour all of a sudden the waitress at the lunchenet is not getting $10, she's getting 15 and 18 with tips, so the wage structure rises so i think it would be a very, very beneficial thing. the real question is, will he do it? barack obama ran on the platform. fix trade with china, will he do it? >> there's a question, if you take on china, you take on mexico or another asian society, don't you start a trade war? >> we are in a trade war already. china has got a currency that's about 50% what it should be, it's subsidizing exports. as it moves up the chain, it shuts out american products. one of the best selling cars in china are buicks. there's no advantage to that.
there's not as much assembly in the car and we can't get them in there. stuart: do you think we'll see the day where they make iphones here? >> it's a lot like a boeing, you sell it around the globe, you make it around the globe. i think that the people on the west coast, did you see california is threatening to secede, have got it so baked in the cake they're superior to the rest of us, they believe that american workers are inferior and won't entertain the prospect doing what's reasonable, assemblying an iphone or ipad where they used to, in america. it's very possible to do, but the people at apple just frankly are a bunch of elitist and morning over the-- i bet they're out there with the protesters. stuart: okay. that's fascinating, peter. a different perspective. peter. >> take care. see you next time. stuart: i'll show you the cover of the new york post, there it is. everyone was wrong. lee carter is here, let me
explain that lee carter runs focus groups, that headline said everybody got it wrong, whether it was the media, the pollsters, the pundits, they got it wrong. you tell me where did the pollsters get it wrong? >> the polling is art and science and it's important to understand when you're interpreting polls it's not like anybody can look at a poll and say this is what's going on. you have to ask the questions the right way and look at data the right way. what everybody did, they ininterpreted the margin of error the wrong way. leading up to the election, donald trump's momentum was increasing. it was narrowing and narrowing and narrowing, we went on average and hillary was called 263 electoral college votes ten days before the election. and the day of the election, 203 and we still failed to call it, momentum was shifting. the gap was growing less and less and less, real clear
politics, 1.7 point spread. and a 3.5 margin of error. it can go up 3 or down 3 on either side. a 6 point spread. what we did, we looked at it and said it's likely to go up. instead, what happenedment hillary clinton's support, it did go down, not up, and it did consistently through almost every state. stuart: is there any way you could change the methodology of a poll to account for these factors. >> yes. stuart: and in the future get it right? >> so, i think that this is the danger of doing a survey or a quantitative data alone without qualitative research. think back to the time we're talking about the dials. we need to measure emotional sentiment not just logical, right? so you want to know how people's gut reaction, we saw the independents were tracking with republicans for months throughout. leading right up-- trump's message was resonating,
we saw something happening here and we also saw, we heard all kind of feedback, an on-line poll versus telephone polls, totally different results. we knew there was a bradley effect. we should have been looking at the margin of error on the other side and yet, most people were not questioning what's going on there and we should have because the primaries showed us that to be true. we saw the primaries polling was one way and donald trump was outperforming each and every time. stuart: i liked your stuff. you could tell how they're given reactions to statements. far more interesting than a generallylized poll. ashley: with independents. >> it's based on people not always saying what they're thinking, but implicit, dial touching and other methods of doing it, people were more likely to react with unway. this is a similar thing that happened in the exit polls. if you asked somebody on the way out who they voted for. they might be afraid to say it,
but if they were asked who they were looking at. like change. stuart: at 4:00, 5:00, people were still voting, maybe a different kind of person. we're out of time, but liz, come back with the dials anytime you like. >> love to. stuart: look at this, this is the main page of the huffington post this morning. ashley: you can read this, waterboarding, on donald trump's victory, scotus disaster, climate calamity and says that the world is bracing for catastrophic presidency, unions could be crushed. american democracy, hillary got more votes, it said. sour grapes talk of which. for minorities, the terror is overwhelming and one other line from the huffington post, protesters fill the streets around the nation. not so sure that's true majority-- >> minority terror, that
provocative divisiveness is wrong. liz liz: media critics are blasting the nation for looking at this quote, millions of our family and friends are in immediate danger from a trump presidency some are in a data base delivered to donald trump. check on your people and be ready to stand with them. >> what's is going on. president-elect trump said there is a he no data base to check syrian refugees. and intelligence sources say there's no data base tracking, in syria itself tracking their people and he said we should have a data base to check who is coming into the country if you're letting refugees in. and that story was about deporting children of illegal immigrants. there's no indication that he will do that at all. in fact, he's talking about deporting instead illegal immigrants who committed crimes. stuart: deliberate scare mongering across the board.
what they're up to. donald trump has plans to meet with the president of mexico. he says, that would be the president of mexico, says he spoke to trump on wednesday and congratulated him on winning and vowed to work with trump to quote, strengthen their mutual respect. okay. back to protests erupting across the country. not that many of them. trump says will bind, bind the wounds. that's what he said, unify the people and our next guest says trump shouldn't bother. more in a moment. >> now is the time for america to bind the wound of division. it's time for us to come together as one united people.
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better. [laughter] wofer said that. ashley: absolutely, it happens liz: singing this for years. stuart: that's my anthem, and we're up on the dow jones industrial average. we were up a new high earlier. those two stocks hit all-time highs earlier. visa well above 83 earlier and j.p. morgan keeps going up and that's a 4 1/2 point gain there. now that donald trump has won, he, hillary clinton and president obama have all called for unity. roll tape. >> now it's time for america to bind the wounds of division. it is time for us to come together as one united people. >> donald trump is going to be our president. we owe him an open mind and the chance to lead. >> we're not democrats first, we're not republicans first, we are american first. we're patriotsfirst.
we all want what's best for this country. stuart: kevin jackson is here. you know kevin jackson. he's the man with the book title that said it all. no, it's not. you're a different kevin jackson, i got it wrong. i'm sorry, i was thinking you were mr. burgess, i've got it wrong, kevin. i'm sorry. >> all right, stuart, get your black guys right. [laughter] >> i don't blame you for saying that, quite right. and you disagree with the calls for unity, don't you? explain yourself. >> absolutely. look, we've watched this liberal freak show go on for decades and it's affected-- it's impacted every area of society. you had charlie kirk on talking about-- by the way, great organization that charlie runs, but going into colleges where there are safe zones and kids don't want to take tests because-- professors won't let them take tests because they're in such pain. this is ridiculous, this is why
we become such a nation of pansies. we've got countries in triage because of the policies of barack obama and we're now supposed to suddenly reach across the aisle? we've got veterans dying on waiting lists. we've got conservatives who have been targeted by the irs. we've got people left for dead in foreign countries like benghazi and other wars that are being fought that are ridiculous. i could go on and on and on about the failed policies of the obama administration and what's happening in the conservatives around this country. we spoke, it's time that these children sit back and listen to us as we take the lead. >> i think what gets to a lot of people is that the left is now demanding that trump and trump supporters and the rest of the country somehow make a unifying call. get together, sing kumbayah, but in fact, look, it's my opinion, that it's the left which has been so divisive in the first place. i think that's exactly what you just said. they're the ones who divided us. we're not the ones who have to reach out to them.
they better start reaching out to us. >> absolutely. stuart. that's exactly what i'm saying. you're watching right now all of these so-called trump protests. this is more feigned, you know, things that the left are creating in order to make it look as if this nation doesn't want donald trump. this nation voted and we wanted trump. not only did we want trump. if you look at everything it took for him to get elected. you no most of these people didn't think it would happen. they called us deplorable. and said it was the low or stupid voter to are trump and taunted most of white america, how dare you bunch of high school graduates, it's the intellectuals who know what we want for the country and intellectuals believing that black lives matter, and the best thing that's happened in the world is american capitalism.
you look at our gdp of 300 million people generating over half of the goods and services that are consumed in the world and you wonder how did we get here? look, again, i'd love to do a 30 minute segment why we need to disregard the left and tell these people go back into your worm holes and let the adults run this country for a few decades and see how it works out. stuart: i think you're onto something there. and if you're write a book with real good title, you'll come back again. >> i do have a book called "race pimping", the multi-trillion dollar business. stuart: that's good, one more. >> and one other quick point, stuart, i want people to go to tea party community.com, it's a social media site for conservatives because our work is only beginning to shore up donald trump, i promise you. stuart: kevin, thank you for joining us, always a pleasure. come back again, okay? >> mine as well.
stuart: check those stocks, big bank stocks having their best two-day rally in five years. those stocks are the best performer since the election. bank stocks straight up again today. and this, president-elect trump on the with an i to meet president obama at the white house. could be a kind of a difficult meeting, they said nasty things about each other in the past. >> donald trump is uniquely unqualified to be president. >> they want you to think that obama is doing a good job and he's not. >> donald trump is uniquely unqualified to be president. >> this country cannot take another four years of barack obama. you can't predict the market. but through good times and bad... ...at t. rowe price... ...we've helped our investors stay confident for over 75 years. call us or your advisor. t. rowe price. invest with confidence.
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listen to how the president described trump in the past. >> no one is prouder to put this birth certificate matter to rest than the donald. and that's because he can finally get back to focusing on the issues that matter, like did we fake the moon landing. what really happened in rozwell, and where are biggie and tupac. all kidding aside we all know about your credentials and breadth of experience. in an episode of celebrity apprentice at the stake house, the men's cooking team did not impress the judges from omaha steaks so ultimately you didn't blame littlejohn or meatloaf and these are the kind of decisions that would keep me up at night. stuart: that was the white house correspondent's dinner 2011. ashley: yeah. stuart: i think that donald trump was angry. >> after the birther issue and president obama unveiled his birth certificate and took the opportunity to real lash out at donald trump.
who you could see sitting there in the audience. and basically, did not move. let wave after wave of laughter come over him it's believed by analysts and it was at that point, you know what i'm going to run and take this guy on or at least i'm going to be president. stuart: look at the left hand of your screen. that's big tech, huge decline. ashley: hammered liz: that's a garage sale for that stock. stuart: i'm telling you, we have amazon down $30. we've got, we've got google down $20. we've got facebook down 5. we've got a selloff and a half in the big tech stocks liz: when do you buy? >> when do you buy? that's donald trump's plane, i believe he's just landing there in d.c. he's going to meet with the president shortly. that's reagan nationally, by the way. look at that on the right-hand side of your screen. that's a big deal. amazon is now down $39 that's 5%. apple is down 2%.
facebook 4. microsoft is down a buck. google is down 3%. that is an astronomical drop and i don't know why. we've seen these big tech names go down yesterday when we have an up market. we've got an up market today and the big techs are down even more. ashley: it's been seen that president trump will not be friendly to those companies heavily exposed to the international market because of his tough talk on trade and trade agreements and tariffs. he's going to rip up trade agreements and impose tariffs, and apple, for instance, many parts made by foxcon, over in china. and silicon valley was certainly in hillary clinton's camp from the beginning. there is a sense, maybe overdone, but the big tech could, like other companies with exposure to the global market could be hurt by donald
trump's policies. stuart: i just find an unusual, most of the market, whether it's financial companies, drug stocks, are up, welcoming trump's presidency. ashley: there's a reason for that. stuart: i understand it. i got it liz: and also, president trump is saying we'll cut corporate taxes to 10% to bring that money back home, that the tech companies have overseas. that would be good for them, you would think. stuart: you would think. i mean, these tech companies have hundreds of billions of dollars overseas liz: 1.3 trillion, that's object sent oil. stuart: just the tech stocks liz: according to moody's. will he do that? it's interesting, he has after ibm for going overseas. stuart: if he lowers the corporate tax rate and some of the money comes back to america and why is that bad for big tech stocks? liz: and again, the plan we talked about is an infrastructure quote, bank, to spend on tax revenues.
ashley: maybe the stocks have run up to the point where people say it's a good time to-- >> do you see this? they are falling as we speak. amazon is down liz: a fire sale. stuart: google is 31. and facebook back to 116. as you watch donald trump, president-elect arrive in d.c., what you're seeing is mayhem on the right side of your screen for the big tech stocks. what do you say, alex? okay. okay. we are looking at a serious selloff in that stock market right there. not for the big board, not for that, just those technology stocks, it's been a very long time. ashley: these have been the darlings of the market and people say maybe now it the time to-- liz: hang on. the trade policies could disrupt the flow of goods and services, not just the tech stocks, that maybe the trade policies could affect them. they could be negative.
moody's is saying there could be negative for industries, including technology. stuart: look, i'm buy it, which i don't have any other explanation. ashley: which is what we said, foxcon, apple, that they use-- i'm putting a footnote to it, okay. ashley:. stuart: 48, that's nothing to do with supplies overseas and nothing to do with foxcan making parts for an iphone. ashley: maybe run up to the point where people say now is the time to take profits. stuart: that could be it, too. ashley: they're the darlings of the market. stuart: you're looking at a lot of people that affect a lot of people and their money and i find that very difficult to relate to donald trump's presidency no matter what you say. i'm sure he's right, but-- liz: it's hitting 401(k)'s. stuart: most of the people who are watching this will have a little piece of amazon, apple, facebook, google, somewhere in their mutual funds or pension plans and have a little of that and they're down.
$44 down for amazon, i am frankly astonished by that, really am. taxiing along the runway there is donald trump's plane on his way. he will disembark as they say, and he'll make his way to the white house. he's scheduled to meet with the president just in the 11:00 hour. now, i dare say he's going to have a motorcade that takes him all the way from, that's reagan national, by the way, take him from there to the white house and not that far and he'll be there. that's the president-elect and that's what you do with presidents follow him all over the place. you step foot outside of the white house and your residence and you're followed. that's happening now. a lot of people on the left around the country protesting trump's election and some of it got violent in los angeles, for example, there was a highway, a big highway, shut down by about 100 demonstrators. look who is with us now, sheriff clark coming to us from milwaue.
what do you think about these protests last night? >> stuart, first of all, it's a great day in america, no sweeter sounds to my ears than the phrase president-elect donald trump. look, these are anarchists, the ones we've been putting up with, the cop haters. they're in shock, they're in shock because the liberal mainstream media made them believe that mrs. bill clinton would be the president. and there's steps of grief, and anger. we have a time honored tradition in the country, back to the constitution, called the peaceful transition of power. mrs. bill clinton called for it yesterday, and barack obama called for it. i expect these anarchists-- i'll be patient and i know what they're going through. in '08 when barack obama elected and 2012, i didn't see anybody on the right taking to
the streets. we honored the results, maybe we didn't like it, maybe we were disappointed, but that is the time honored tradition in this country that has to be upheld. i'll give them time to get over their grief and then it's time to quell this stuff. stuart: and that's what i want to talk about. quell this stuff. the expression you used. when i hear a law enforcement officer use the term quell, makes me think you'll use law and order? >> peaceful protests is here. i and once the violence comes in, property must be protected and lives safeguarded like i said, give them time and once it's out of hand then you have to go in and use force. stuart: now we're in an area of civil disobedience, in los angeles closed down a highway and they were out there.
traffic disrupted all up and down los angeles and people put out. what should happen to the people, they should be arrested, charged and fined heavily for what they've done, but so often in the past you let them off with a tap on wrist and they're out in a couple of hours, what are you doing about that? >> not m milwaukee. that's not how it happened. when they took the freeway over a year ago, december, 100 people went on the interstate system. 78 were arrested, i believe in making mass arrests and some of them had to spend several days in jail before they were processed and many said we didn't think we'd be arrested. didn't think we'd be arrested. >> you have to find that sweet spot, that balance because fashion as long as it's peaceful fine . i don't mean peaceful takeover
of a freeway system that's not peaceful protest does not have the right to do that of thing so when these are violated i expect mass arrest but i don't control agencies in those cities but i know what's going to happen in milwaukee if that happens. >> we're all watching election results come in on tuesday night, and when wisconsin went for trump, that was pretty much the writing on the wall. i'm told you have something to do request trump's win in wisconsin. that you were out and it be in the precinct of milwaukee, and you had an impact. is that accurate, sir? >> well, i don't know, i'll let the the, you know, the politicals make that decision about look i said i would work hard to get donald trump elected president of the united states. we also had a united states senator ron johnson whoftion up and his election had a potential to transfer the balance of power in the senate so i fought for him back home here as well. but i was all over this country ing for donald trump we needed his leadership i like that make america great again put america first. when i say i'm committed and i'm
in i put my money where my mouth is and i fought as hard as i could for donald trump to be the next president of the united states which is why i'm ecstatic today. >> if offered would you take any job in the trump administration? >> i think it's a little early for that. things are settling down donald trump is a lo of decisions to make. no, let me be clear on this stuart if president ask you to serve you serve so if that comes i'm sheriff of milwaukee, county and i'll be the sheriff until i'm no longer sheriff of milwaukee county, but until then, you know let donald trump get his feet underneath him. he's got a lot to do but president calls on you to serve you step up and fulfill that tax cut. >> we don't always interrupt your joy sheriff but a great pleasure having you become on the show in this trump era. congratulations sir, welcome back we'll see you again real soon. >> thank you. >> thank you, stuart. left-hand side of your screen donald trump plane about to
disembark from that plane it is the trump are plane, let him move on to the white house right-hand side of your screen a meeting coming up with president obama just a little later on this morning but maybe half hour, 45 minutes from now . you'll see. we've been mentioning election and some stocks that are helped or hurt by donald trump. one of those sectors that we featured prominently are the health insurers not quite sure how those stocks will, in fact, react to what donald trump is going to do with obamacare. but with us right now is dr. mark seagal where he's a practicing physician who has to deal with obamacare. i want this when ire talk this morning to come down to you as a practicing doctor. and all that you've got to put up with because of obamacare now you're told me in the past this this electronic recordkeeping is a feign in the neck is that accurate? : that's one thing. we're facings the computer these days and not facing patient and it's incredible at of time to document things based on a 2009 law which hangt been factored in
when obamacare was passed we were already were in trouble doctors. second point, doctors practice defensively stuart because we're afraid of malpractice now it doesn't mean that everyone is going to sue us but if someone calls me with a common cold i may say how do i know that's not pneumonia how do i know that's not pneumonia i in there because god forbid i miss that. fearf malpractice so tort reorm has to be part of any kind of change. that's number one. >> every doctor hold on every doctor i've talked to says can you get lawyers to back off a little because my insurance rates are sky high and it's -- i have to practice defensive medicine is that issue number one for you? >> because yes because it plays into the other part of the problem had is that insurance is overis overused back in the 1930s when hern hospital association started insuring people because of polio diagnose on streets during the great
depression so insurance protected you against the catastrophe. nowadays it covers your cholesterol counting. it covers the common cold. it covers everything. so therefore, that's why premiums are so high. >> okay donald trump emerging from his plane that's reagan national in d.c., as you saw he waved acknowledged the crowd. melania by his side and gets into his motorcade no delay for the president elect he drives out of there and trays are clear and off he goes to the freeway. there are some privileges to being president -- we're all jealous. there he is the president elect of the united states of america i should say he's the presidentt until elect roll college announced its vote. and then he becomes the president elect. >> last week of december. >> i don't to get pku about these things but i did. [laughter] so doctor, do you have any idea what donald trump might do for you with getting rid of obamacare? what is he doing for you as a
practicing doctor? >> repeal which will go through a budget reconciliation process get rid of the individual mandate and get rid of the subsidys right now according to hss average fern is paying $365 in a premium and subsidy is $265 so taxpayers getting killed on obamacare. it will, to answer your question my office will no longer bed flooded as much with cheap insurance where everybody wants everything but doctor is being paid very little. >> that's very important. >> that has to change donald trump has said he wants high deductible plans where you doajt use them unless you're really sick essentially or you have to get some skin in the game where you're paying out of pocket but get tax deconduction with health savings accounts. health savings accounts that roll over to next generation or become part of your are estate. the key is getting a tax deduction for spensding on your own health care, and getting choice. when you say to i really need that mri stuart? do i need that cat scan do i
that viagra. >> you have to throw that this there. huck it right in there. doctor i'm sorry i have to leave you for a second. thank you very much. that was good stuff. i've got to leave you because ept an update on these big tech stocks and what's happening to them because they are in serious downside move. nicole come on in please, how bad? >> well, take a look these are some of the favorites that everybody has. attack a look how amazon is down 5% apple down 4% at 10 6 facebook dropping 6-% that's at 115 right now. microsoft 4%, and google just alphabet down 5% and when you look at trump policy an technology industry it is taking notice, and even blaming themselves they look outside. they look for these special visas, h1b specialty occupation nonimmigrant visas they get these people to come in skilled labor from abroad, and you know that donald trump has been very
tight on all kinds of immigration, offshore labor, skilled workers from abroad and global trade. all of these things are front and center for the big check mate. >> way, way down nicole thank you for that update. >> on a day that we had the a record and they're suffering. >> yes that's a selloff and a half. nicole thank you very much. my colleague charles payne trying to explain what is going on with the big texas come right in at me and he says look, big profit rotation here. going -- money is going into potential winners in the trump economy that's primarily domestic stocks. not the global stocks, which are the big tech names. he also says fox con they make the parts for apple over there in china. charles charles payne says they reported a disappointing number which hints at slow sales for apple in particular. a is way, way down. that's from charles payne we're trying hard to understand what is going on here because frankly, not seen a selloff in
big tech like that for a long, long time. especially i'm sorry especially on an upside day. go liz. liz: rotating in. s on fire today they're in the green financials. gloort it makes sense. people have made a lot of u money on amazon of this world 850 for herchs heaven sake so are taigs is part of deal and keep you up to date. now a key to trump's victory, the white working class. they came out in droves for donald trump. remember, he promised to bring back their jobs. so come on in joe -- better known as joe the plumber. joe the plumber i can't see you on the screen is we're looking at donald trump getting out of his plane but i know you're there. white working class put trump in power that correct? >> they had a lot to do with it and like i told you before man my numbers were a little high but as i'm looking at exit polls and number now better percent of
workers and no surprise in ohio, pennsylvania came out, wisconsin, the union workers really gave a message to union leadership that we're tired of it and that they want jobs and only way to job is to work and talked about common sense solutions on how to make jobs come back to america. >> you know, in a speech before the election, few weeks before the election, a trump talked about bringing back trade schools. now, that kind of an idea from the past i don't know how trade schools where they're standing these did is to you support that idea, joe? >> well absolutely. too many kids are saying they have to go to college, and you get too many college educated people out there with no jobs. my son prnlly actually is only a week away from getting his journeyman license and heating air air-conditioning with a fine living and there's lots of good hardworking blue collar jobs and america needs them to help our manufacturing as well. so donald trump snts the first
man to have that idea. but if he can promote that idea in -- make that happen it is great for america for a long time coming. >> but you know i've got the feeling that elites look down on that kind of work. they want your vote but don't admire people who get their hands dirty for a living. you felt that? >> yeah, absolutely. they look down on us until they need us because we're only ones that can actually build houses they want to live in fix toilets they want to use, have the air-conditioning when it is 100 degrees outside. so really the world doesn't get by without middle working class blue collar man. we're ones that actually america was built on. so no they can look down all they want but we know what had truth is and we don't worry about people looking down on us because you know, we know what we're worth. >> i don't know why the union vote didn't go even more strongly to donald trump. you're telling me that 50% of union households voted for donald trump. but that leaves 50% who did not.
i can see a real alignment of the union movement. i know that mostly government workers who are unionized these days but u you know, i can see a realignment. can you? >> i'm not sure. there's a lot of things there's couple of things there stuart. one is i read roongtly recently government jobs overtook and that should scare american people. two realignment if donald trump is able to achieve half of what he talked about, union members are going to be too happy making money and be able to send their kids to good schools and not have to worry about federal government involved in their schools because with trade schools with charter schools, hopefully becoming more prevalent, the kids aren't going to be brainwashed in school anymore. we have more clear thinkers out there as they tbrnt and when you have that, that scares the controlling class. which is cially the democrats so i don't know if i see realignment maybe that's hopeful thinking but i think if trump
achieves his goals, union members won't be near as upset with his presidency, and quite frankly be quite happy. fnght joe the plumber as always thank you sir, we will see you again i'm sure. thank you very much. >> sure. stuart: main financial story apart from the big rally overall for stocks main financial story is the huge selloff in those big name technology stocks. we kind of just noticed this about 45 minutes ago -- it's suddenly popped up on radar screen we follow the market very closely, obviously. and we saw amazon just tumble, one point it was down $48 now down $34 coming back a little bit still way down. and an l is all the way back to 107 a share. facebook is down 6 at 117. microsoft yes it was 60 and dropped off a little not that huge a selloff but back to 58. and google is down $30 a share. all the way become to 776. anything? >> interesting because journal
wrote a piece that is true that says silicon valley is raising the alum saying that hit donald trump election victory is a huge blow to the silicon valley because he was a very big vocal critic of tech companies apple during the controversy over releasing information getting into that phone over terrorists. also has den a battle with jeff, as we know who through "the washington post" who runs amazon, peter, we were talking about his lone trump supporter in the silicon valley but also some of donald trump's policies seeming to hurt the industry nicole petallides reported some of the visa requirements he wants to strengthen donald trump, and some of those visas used by skilled workers by big tech companies to come in from around the world to help them with that business here in the united states. >> i'm not sure that's correct and trump wanted to open up visa for valued immigrants, and open that up.
if the market thinks he might close it down, that would be serious. he'll do it. >> i can't imagine him doing it. >> wall street editorial board would agree with you they say proimmigration stands there. republican president elect, he has saidamazon has a huge antitrust problem to f too so regulatory backlash under president presidency. you know, he also donald trump also attacked apple call for a boycott of apple after the company refused to help the fbi unlock the iphone used by the shooter that terrorist in san bernardino. >> who would have thought that the antiregulatory environment trump, would now been looking at regulating amazon with an antitrust problem. i mean who would thought that would go that way. >> yeah. stuart: there's a little bit of comeback apple is, quote, only down 37 dollars. it was down $48. but apple still at $107. facebook 116. microsoft $58 google is $32 that
is the in my opinion overriding financial story of the day. >> it is a lot of this is based under uncertainty about donald trump policy and who is he going to get advice from someone more antitechnology. with with regard to regulations i can't imagine it. but there is -- uncertainty leads to selling. >> how can you be antitechnology where technology underpins american -- drivers all of the growth you're absolutely right. stuart: these are stocks that put people their money into. motorcade that is donald trump's motorcade. prident elect is going towards the south lafnt white lawn of te white house and about to enter, of course, he'll walk inside and be a meeting with president obama. did you tell me earlier that mike pence vice president elect he's going to be there and dunts meet with the president? >> vice president joe biden so a meeting there. >> meeting with paul ryan as well. >> that's important. now that's a face-to-face. that's the speak speaker of the
house. possibly mitch mcconnell. very important he'll be the leader in the senate there you've got -- the republicans getting together what are they going to do? that's the plan. >> what's the hundred day plan what? at least as important as meeting with the president about the transition. >> also -- of course meeting with the president could be ac awkward i hear cheering in the background could it be? in d.c. from the hole of -- home of the federal government not sure i'm prepared to hear that. >> news ceo jeff did tweet his congratulations to donald trump saying i for one give him my open mind wish him great success in the great service to the country. donald trump did go after jeff in a series of tweets critical of his ownership of the washington post. >> let's get this straight worth $60 or 70 billion a bit less by
now, and he owns and runs "the washington post." and "the washington post" was the most avidly anti-trump news outlet in america all the way up to the presidential election. donald trump has no reason to be friendly towards the "the washin post." >> jeff has ever reason to put out an olive branch because donald trump is now the president. >> yes, and not going to win by continuing the feud. >> we have to wonder if this selloff in amazon stock has something to do with the trump presidency. >> don't use the -- don't use the apparatus of the government to -- you know be vindictive. that's true. in a threat had of retribution there. but i think -- i think i beg your pardon need nor global trade is what had silicon valley and stocks are fearing about and driving this too. >> could well be. because that is a big factor in the market today. we're back up by 100 point on the dow industrials. that means we're pup 350 since election -- since the election results came out.
i think we're up 400 points before that. because they thought it was going to be hillary -- >> down over 800 points shortly after election result was confirmed. >> that is a comeback and a half now at 18,000 almost 700 earlier this morning hit an all time high for the dow industrials, and that is going on with tech stocks a couple of them by the way are dow stocks. microsoft is a dow stock. apple is a dow stock. so the huge percentage decline in those two stocks is really taking down the dow industrials which would be up more like 200 points if it wasn't for that. on the left-hand side of your screen it is going to happen real soon. we've seen donald trump's motorcade head towards the white house. he's inside the white house gates, that meeting will take place very, very shortly. that's a key meeting. it's not going to be very easy i think it might be a little awkward. that's the way it will be in the white house this morning. but that's democracy in action.
that is the peaceful transition of power. incoming president elect meets the sitting president, they shake hands. they discuss a few things in prieflt. love to be a fly on the wall i will not be -- would leak to know what goes on right there. meantime right-hand side of your screen lloff in big tech continues. it started about an hour ago. it didn't start at the open bell. started about an hour ago not sure if there was a news event that created that. but nonetheless, that is what we are looking at now. and look who is here. monica crowley is with us. just rushed on to the set because we've got all kinds of things going on today. monica i should explain is the lady who was one of the first to go for donald trump. >> me first. the record -- she stuck with him all the way through when others had their doubts monica did not monica said he is going to be the president of the united states. and he is. well done. >>[laughter] thank you very much. >> actually a couple of weeks
two to three weeks after donald trump announced his candidacy for the republican nomination for president, i came on fox news. i on fox business andverybody was sort of mocking him, and saying this is ridiculous he came down the escalator, and i remember very pointedly saying, stop of laking. laughing do not underestimate him he can win the whole thing and i suspected at the time that he would not only be the republican nominee. but that he would had end up as president of the united states. and here we are today with the president elect, donald trump, visiting the outgoing president, barack obama, against whom this election was a major rebuke. >> you had your doubts. i know you had your doubt when is the locker room tape emerged you have your doubts. >> only because the media controls narrative in this country and mainstream media was piles on donald trump in a way that i haven't seen since richard nixon george b. wush had it bad but donald trump, here's
the key drurp donald trump faced opposition from the president of the united states, the white house, mrs. clinton, her campaign, the democratic party, the republican establishment, the international mountain, and the mainstream media. and i said a couple of weeks ago stuart if donald trump won the election, it would be a straightup miracle and you know what on tuesday the american people delivered that miracle. >> it's astonishing he lost the popular vote not by much. but he did lose the popular vote but electoral college system that allowed him to win i think he dominated electoral college because california and new york are huge electoral college votes, and although huge population centers. and they all voted for hillary clinton in those two big population states. that watered down the welcome tomorrow college vote. not explaining it very well. >> democrats run up score in the
big blue states. particularly new york and california, but also illinois, and chicago and places like that. i vote in city of new york and manhattan i had an over two hour wait, and the line wrapped around 57th street and i stood there all the whole time to vote for donald trump and i think i was only one in that line of hundreds and hundreds people who were voting for donald trump. but yes they do run up the score but we have a system because we're republic and not a direct democracy. where we have an electoral college, and remember there were a lot of complaints in 2000 election when al gore won popular votes and george bush and a lot of conversation to scrap the electoral college and what is happening and donald trump because he redrew the map, donald trump was the only republican who could do this. he redrew the map. because he undecided voters with popularrism that he was able to
flip states wisconsin, pennsylvania, ohio, he got industrial belt across the midwest which is what a lot of republicans have fought for a long time and unable to do. >> he rewrote the map and rewrote the voting map and he also realigned the republican party because this ain't your answer, republican party. >> no, the revolutionized it the republican party which today under donald trump is not so much a conservative party as it is a pop list party and what he's done because this is a real lining election, donald trump was able to ride tiger of all of these cross currents that didn't just sweep the united states. but sweeping the western world you saw with the brexit. you see it in regional voting across trans, and austria, and germany and you're going to continue to see this where the people are revolting against elite. >> wait until you see french elections next year may of next year, lapin could be donald
trump of france that could be. big stories we're following for you, the president goes there and stocks are down to tech. >> donald trump's victory is barack obama's defeat. more than that. it is the reputuation of the president's policies. the shredding of his legacy. when they meet it will be awkward trump never used a nickname for the president but called him a failure frequently. president obama tried to link trumple to the clan, and called him unfit for the oval office. said he was born request a silver spoon in his mouth. and it gets really awkward when you look at what donald trump is about to do. he's going to reverse the obama agenda start with obamacare. democrats spent a year getting it passed and several more years explaining its failure. obamacare is toast. immigration, criminal aliens will be deported. sanctuary cities will be called to order. the wall says trump will be built. the president's open border
policy is finished. taxes, trump will cut now there's a switch. president obama never met a tax he did not like. regulation trump dismantles president obama regulated small business to death. foreign policy awful. let's hope we change course. please mr. president elect no more caving to enemies and scorn for france, yes it will be awkward and civil. don't tell people on the streets that america's democracy worked just fine, thank you. no matter how brutal the campaign when the results are in, winner and loser shake hands. that's what you will see this morning. here on "varney & company,," you'll see it as third hour rolls on. >> do you agree with that monica? it will be civil, it is democracy it is what we should see? >> and you'll see the day and see in days and weeks going ahead but here's my concern stuart a lot of talk about who is going to lead the democrats
party once he leaves office. i think is going to be president obama because he had a strong grip on the party and remember he's not leaving washington he's down the street breathing down neck of the new president and i don't think he's going to follow the usual etiquette that a former president leaves the successor alone. that i think when donald trump goes after reversing obamacare so how do you exercise influence within a political party when you do not hold elective office? >> barack obama holding an iron grip on this party make no mistake. do you think he'll go gently into that good night? >> origin thinker welcome back. now story of the day is in finance department from the big board rally right-hand sides of your skein big tech names are tumbling and now amazon down and google down 32.
charles payne scrambled for us he knows a lot about market, in fact, more than i do, and he's here on the show. there he is finally got him sitting down -- >> the same day. incredible. i want now, look we're on the screen. big tech, huge selloff. is that linked to trump? >> some of it is. i wanted to come down some of it to ashley's point and liz, was is profit taking. facebook is right now at this moment almost 12% for the year even with these loss it is today. up 140% in last three years, amazon is still up 9% at this very moment for the year up 99% in the last three years. but those two companies come with a caveat these are two where ceo not like donald trump. beyond business -- and mark zuckerberg put on facebook that he's feeling hopeful for america under a donald trump, and jeff has it
necessary to tweet just 40 minutes ago, congratulations to donald trump. i for one give him most open wind and wish him great success in his service to the country but here's what happened on election night when it became apparent that trump will win. i don't remember that big fund raiser george clooney and his wife held most successful one night, well it wasn't at their house. at the home of a guy named sherman iranian born capitalist, huge guy, he wrote a 25-page report on election night, and in silicon valley, california is succeeds from the country and be their own country. now this guy is also very wealthy thft that night they ranked in over $2 million. he's involved in hyperloop and other things, so everyone is making nice on this surface but there's a lot of anxiety and animosity beneath surface and fear. now, before i go into that, i will let audience know fox con that makes iphone had a terrible earnings report over in china.
so implications are there negative per apple and conductors that's why stocks are down. >> that's understandable performance of the apple supplier, understandable a big stock decline for apple they're down three and a quarter percent and back to 107. but you're saying that with amazon and facebook, it has a lot more to do with position of the technology industry in california and those who lead two companies. >> in their -- opposition president donald trump -- >> all of a sudden charles, that huge selloff started it just about an hour ago. >> well, i think that fox con news got all tech sort of move hg in opposite direction, but then on top of it all remember, you're sitting off huge profits of your -- thoughts. >> and this happens from time to time. >> mudy had had a opposition fr global an supply trade when that
came out and stocks move, and also needs to be made that you know donald trump wants to reject the tpp trade deal which is 40% of the world economy, 12 countries that will lower trade barrier and hiring tech workers silicon valley wants that. they want that. apple and stocks they want that tpf trade deal. >> i think, i think can i summarize my opinion? i think this started with the fox con report. that you've got a problem, the suppliers are not making much money so that hit apple which that hit apple which hit all of the tech stocks. >> that triggered it. stuart: then came in the profit takers because, amazon and google, up they go. fitbit's just been halted, there's news pending. but this amazon and facebook, would you buy them? would you buy amazon down at the 720 level? >> there's no urgency right now, but these are names that buy on
dips over the last four or five years has been incredibly profitable, and i think it will continue to be. [laughter] listen, let me tell you though, i had a huge day. i did a special white house report and, you know, i actually just took profits in u.s. steel. we were only in for a month and made 35 percent. stuart: u.s. steel? >> yeah. stuart: because of trump. >> exactly. my trump names are on fire. here's one i didn't anticipate on, the restaurant stocks are doing extraordinarily well -- stuart: that's because of obamacare. you get rid of the cost pressure -- >> exactly. you've got some winners, some that were obvious and now as this goes on, some winners you didn't think. but as you connect the dots, bottom line people have more money in their pockets initially from lower taxes. that doesn't always translate to the economy, but the acceptance speech from donald trump could be that magic piece. see, there's a mechanical issue that's sparking an economy, then
there's an emotional part. lower taxes, fewer regulations, yeah, mechanically thats. you've d that helps. you've still got to trigger an animal spirit. donald trump had a big way of recreating that with his acceptance speech. your going to the see a lot of nonbelievers jump on board. stuart: you know, charles payne used to be an integral part of this show. [laughter] you're killingour favorite opponent, and i know you are. [laughter] >> that part i love. [laughter] stuart: you're all right, payne. >> thanks a lot. stuart: we thank you very much indeed, sir. thanks, charles. all right. trump meeting with president obama in the white house, what you're looking at on the left-hand side of your screen. he's already planning a meeting with the president of mexico, and he has talked with egypt's leader, al-sisi, and he it is hs
talked with israel's leader, netanyahu. i'm astonished the guy's energy, he's already jumped onboard with calls to these foreign leaders. the man is off and running. >> absolutely. he is the president-elect, and he's talking to all the right people initially. he's talking to one of our most key allies in israel, benjamin netanyahu, and he's also talking to the egyptian president, as you said,al city i --al city city, who gave a very gutty speech months ago and got no backup and no support from the current president. the incoming president understands the courage that it took for egypt's president to make that statement. he is going to be a key ally against the islamic state, al-qaeda, the muslim brotherhood, and that was a critical conversation for president-elect trump to be, and i give him a lot of kudos for having it. stuart: there's going to be a meeting in the white house, i
believe donald trump is already inside the white house grounds. the meeting may be in progress now. they are there. that's a very important meeting because it shows the peaceful transition of power in our democracy. but there's meeting going on. i don't know whether it's in the white house. it's certainly in d.c. where donald trump-president-elect, will get together with speaker ryan and mitch mcconnell who still leads the united states senate. that is just as important for our economy and our political future. because if they get together, figure out what they're going to do with a republican congress and donald trump in the white house, that's an important deal. >> you know, as supportive as i've been over the last year and a half of donald trump, one of the big criticisms i had was when he went to war with paul ryan. now, i understand why, because ryan had to handle the deliberation about donald trump and, well, i may support hill, i may not vote -- the whole drama. so i understand why trump did it. but i thought donald trump
should have extended an olive branch earlier to that and said, listen, even if you don't like me, vote for them, because when i'm elected president, i'm going to need them to get my legislative agenda through. and now it's all water under the -- stuart: producer, what am i seeing on the right-hand side of my screen at the moment? that's what? what is that, right-hand side of my screen. the -- oh, what? the old executive office building. >> there you go. stuart: i wasn't familiar with that. it's next door to the white house, i'm reliably informed. the big meetings will be held righthere, d.c. i'm going to get back to the big financial story of the day which is not so much the big wall street rally, no, it is the big selloff in technology stocks. i want some more input on this. we just had charles payne joining us, and now john layfield is with us. coming in, his manages -- he manages money.
he's normally in bermuda. whether he's coming back to america you should president trump, i don't know whether he's going to repatriate himself, but he's going to offer us some information on why the big name tech stocks are down. go ahead, john. >> thanks, stuart. i actually pay full federal income tax, so i don't get a tax benefit from being here. when you're talking about the international companies like these tech companies, one thing that president-elect trump has said he's going to do is close the loophole. it's a very complicated process, they put their companies at a 12% pass rate, they pass it through a double dutch shell. you go through the netherlands, park your money here in bermuda, loan the money back to lower your tax rate. i think that's one of the reasons also that these tech stocks have old off. that and -- sold off. that and some of trade policies that donald trump are worried about that he might implement. however, when you talk about donald trump's 15% corporate
income tax that he has proposed, that's not much different from the ireland 12%. you wouldn't have to go through this complicated process. you really could get a lot of tech companies back, headquaed in theunited states if that happens. however, that's a long way off. stuart: it's president-elect trump who wants to restrict the foreign, the movement of american profits overseas, stop them from circulating? be i thought barack obama wanted to do that. >> he's talking about closing the loopholes. that is the main loophole that you have right now, the companies that have located in ireland that do this double dutch shell. if you take that loophole out and you put 15% tax rate, you will bring companies back to the united states because now it's an easy comparison for these companies. there's no reason to be overseas. that is a big part of what some of these tech companies are feeling right now, that that loophole can be closed. that in addition to the trade talk that president-elect trump has said if that is implemented.
stuart: i'm looking now at big selloffs in amazon, down $34. apple's $107, facebook $117, microsoft at $58. alphabet google at $774. as you look down that list, john, do you see anything that you would want to buy at these new lower levels? >> no, because i think there's -- another shoe could drop. we don't know exactly what's going to happen with the tax policies of overseas company or any type of potential trade war we could have with china or any other country, and i think the downside risk is too much. as charles articulated very well, these stocks have been on a huge run right now. there's no reason to buy them right now, i'd wait for another pullback. stuart: we've also seen a nice run-up in the banking stocks. they're up some more today, jpmorgan hit a brand new high, even wells fargo getting to $50 a share. do you want to explain why the bank stocks are doing so well?
>> that is very easy. elizabeth warren. it stops and ends with elizabeth warren. she's no longer in the picture. dodd-frank could be rescinded or fixed, and payoff that you're not going to have people going with more regulations that were absolutely unnecessary. they didn't do anything to fix what was wrong in 2008, they just stuck a lot of regulations on with dodd-frank. that will probably be fixed in some way, but elizabeth warren not being in the picture, not going after those big banks, that's why financials are rising. stuart: one more. big name drug stocks are up. yesterday and today. why? >> hillary clinton not being the next president. very simple. there's not going to be price fixing, price structuring from these big pharmaceutical companies, they're going to compete in an open market. donald trump has not talked about doing any of that. he's talked about fixing or repealing obamacare. the pharmaceuticals are going to benefit from this. stuart: i don't john, thank youy much for joining us. that was very important information on the truck stocks, the bank stocks -- drug stocks
and big name techs. good stuff. >> thank you, stuart. stuart: now with us is fred barnes, he's with the weekly standard. he's not exactly -- he is at least a weekly guest on varney and company. [laughter] he's laughing. we can't see you, fred, because we've got our eyes on drug stocks, high-tech stocks and the front of the white house, as you can no doubt tell. >> yes. stuart: i think this is a very important series of meetings that donald trump will be holding today. in particular, he's going to get together with paul ryan face to face and mitch mcconnell face to face. >> right. stuart: i see that as not exactly "kumbaya" but coming together to see what they can do together. >> they can do everything together. they have to do everything together. trump is not just a republican, though he touched off a party victory all over the country, but he's also a populist. he has that agenda. and he's won the argument there. i mean, this is why if you didn't combine that populist position on trade and
immigration which republicans hadn't before, trump had it, and that's why he won before republicans didn't have it, just the strait conservative agenda which i tend to agree with, but they couldn't win the white house. they couldn't win pennsylvania, they couldn't win michigan, they wouldn't win wisconsin, they couldn't win ohio. this is what trump knew. he added that populist agenda as well, and i think both mcconnell and paul ryan are going to accept that. there's going to be changes in immigration and in trade. stuart: as you know, fred, we're a financial program, and any kind of get together between the white house and a republican congress going towards tax cuts and regulatory reform, all good news for the market. so you're not a financial analyst, but i can tell you this, the dow industrials are very close to all-time record territory. >> they are. stuart: and i think that's got something to do with that
meeting that's going on today. what about the president and the president-elect? it's going to be kind of awkward, isn't it? >> i think it'll be awkward, and neither one will be saying anything they really believe. it will be nice, and it will mean nothing. [laughter] the meeting that's important is the meeting between donald trump and the two leaders of republicans in congress. they owe him some things, for sure, particularly mitch mcconnell, because pat toomey in pennsylvania, roy blunt in missouri and even ron johnson in wisconsin would not have won without being, been benefitedded from donald trump's coat tails. i mean, stu, you were out there earlier than anybody else predicting trump would win, months and months ago, and i'll have to say you knew i disagreed with now. not about trump, but his chances of winning, and you were right. stuart: actually, fred, it was monica crowley who was out front right from the -- >> oh, she was. no question about her.
she was talking up trump months and months ago. stuart: fred, on a personal note -- >> yeah? stuart: hillary clinton must be crushed. she is not going to be the president of the united states, not going to be the first female president, and i think not exactly the president, president obama, not exactly crushed. but he's seeing his legacy shredded. good-bye, obamacare, good-bye all this foreign policy, good-bye his immigration policy, etc., etc. do you feel a certain level of personal sympathy for hillary clinton and/or president obama? >> not a bit. stuart: really? >> not a bit. stuart: explain yourself. >> i'm not a tough guy, i'm just being realistic. what would happen to the supreme court if hillary clinton had been elected? look what's happened to health care and health insurance in america because of obamacare. look at the trillion dollars that was wasted by obama on his stimulus back in 2009 that didn't help the economy at all, it just gave a whole lot of
money to democratic groups like -- and anyway, i mean, so i don't feel any sorrow at all or sympathy with them. look, i mean, the good news is the clintons are gone. they're finished. we don't have to go through the agony of the dramas that they produced. and with barack obama, his legacy is dead. you could have mentioned a bunch of other things. you could have mentioned all those executive orders that donald trump has said with a stroke of a pen he's going to get rid of. stuart: well, fred, i think your i view is popular with our audience. my view of offering some personal sympathy to hillary clinton and barack obama was met with a deluge of harsh criticism, so the audience is on your side, fred. [laughter] would you stay there for a second? i'm going to break away for ashley with some news. >> this is more background to the phone call between british prime minister theresa may and donald trump after his victory. it's a very warm conversation, makes you feel all warm and gooey inside, it's actually very
nice. theresa may saying she wanted to highlight the wish to strengthen bilateral trade, blah, blah, blah, investment. but she says the relationship between the u.k. and u.s. is so much more than that, and the two countries have always stood together as close allies when it counts the most. president trump added that the u.k. is a very, very special place for me and for our country. he then ended the call by inviting prime minister may to visit him as soon as possible. stuart: all right. >> excellent. stuart: fred barnes, come back in please, because you and i both remember margaret thatcher and ronald reagan who together beat the soviet union, reestablished prosperity. do you think we might get the same from theresa may and donald trump or is that pure wishful thinking? >> well, you know, you can get a great alliance. certainly, after brexit the buritz need to have a stronger-than-ever relationship with the united states, and i think that'll probably happen. but, you know, look, you can't
match the historical importance of margaret thatcher and ronald reagan for doing just what you said they did, soviet communism died. stuart: nobody ever said anything about margaret that much being a woman as -- thatcher being a woman as prime minister. margaret thatcher just stared the woman down, what are you talking about? what are you talking about? oh, i loved it. [laughter] i just loved it. you want to hold on a second, fred? i've got monica crowley eager to get in -- >> hi, fred. >> hi. >> good to see you. >> thank you. >> this is the most app sonnishing political story of our lifetimes, maybe ever in the history of the republic. here is a guy who has never done this before, who essentially had no money relative to mrs. clinton's $2 billion at her disposal, who had a skeletal
campaign going into this, who did everything instinctively, right? he ran his campaign on his gut. sometimes that gut took him over the edge, but he self-corrected. and i find this moment remarkable, that president-elect trump is meeting with the outgoing president, barack obama, because the big untold story of tuesday night is, yes, donald trump is sort of a black swan event here, but the election was a wholesale repudiation of barack obama and all of his policies over the last eight years. stuart: she's a hard lady, fred. i'm telling you, there's no sympathy for hillary or barack obama there. >> none. none. stuart: fred? [laughter] >> i think we're together. stuart: i do believe. break away for a second. on our screens we've been showing you, look, that's the nasdaq composite. leave that up for a second. the index is the home of technology stock, and it is down 1%. other stocks, domestic stocks, steel stocks, bank stocks, they
are up. but technology stocks are down. the nasdaq's off 3%. 1%. steel stocks, they're straight up yesterday and again today. the feeling is that a president trump's policies would be very good for domestic, basic industrial companies. lizzie, do you want to get into this? >> fitbit, trading was halted there may be an offer, $12.50 a share for fitit. this stock lost a third of its value, november 3rd, when its profits fell 43% for the third quarter. so there may be a move here to buy fitbit. stuart: so it's at $8 a share now. >> quite a premium. stuart: the possible move -- >> 12.50 by a company called ab be m capital. stuart: has the stock reopened? >> yes, it has. stuart: so why hasn't it opened much, much higher if the offer is for 12.50? why is it -- >> tender offer, looks like it's out there.
we're trying the nail the story down. stuart:s there is some concern it might not be exactly a firm report. >> well, the press release is out there -- well, yeah, we're checking it. stuart: because you can mess around with a company when it's smaller like this one. >> correct. stuart: fitbit'sed had its trouble. it's one of those wristband things that measure your heart rate and all that kind of thing. most of us have phones that can do that these days. [laughter] fred barnes, i hear you laughing away there. have you got a fitbit or something? [laughter] >> no, you know, that night, the night of the election my wife and i watched most of it up until 4 a.m., and it was just so much fun as things changed and trump got better, and i was thinking of you occasionally, stu, because i know that was your first vote -- stuart: yes. >> and you were right about trump. i was dubious. look, a lot of good things are going to happen. we're going to get rid of obamacare, i think very quickly, we're going to get a supreme court justice that will help create a majority for
conservatives on the supreme court and then more nominations over trump's first term and the opposite could have happened if hillary were there. we'd have a supreme court that woulded be very liberal -- that would be very liberal and no telling what they do. i think a lot of good things are going to happen. and then what was the one economic idea that trump talked about the most? it was about -- other than trade, it was about bringing the corporate tax rate down from 35% to 15%. that will have a huge effect on, obviously, the corporate community, but also on wage earners. that, when you reduce the rate like that, it has some effect, and some of the money goes to the working class in higher wages. so a lot of good things can happen, i think, in a stuart: okay. fred, stay there for a second. lizzie, you've got a point? >> there's fear out there being, you know, fueled by the media that he wanted deportation force to deport muslims -- stuart: well, but that's the
media. >> i get it, but i'm asking whether or not he needs to make a statement to calm the waters because it's going on that he wants to bash -- stuart: it should be -- wait a minute, it's not his job to come out and knock down these lunatic reports in the media. >> well, it -- stuart: that's the leftist media. >> understood. the question is, he's made statements on the campaign trail and they have interpreted them to say that he wants a deportation force to do that. i'm just offering the question whether he needs to calm the waters. stuart: and i say, no. we're joined now by a leftist. that would be leslie marshall. are you there, leslie? >> yes, i am. good morning. stuart: what are you doing, dividing our country like this? what are you doing telling us, people who are conservative, that we've got to reach out and reunite the country? it is the left, may i remind you, which divided it in the first place. go. >> i think we would disagree on that entirely. we certainly heard president obama, and we certainly heard
secretary clinton talk about standing behind president-elect trump and uniting. the problem is the rhetoric of donald trump in the past was not one of inclusion and unity with regard to specific groups, whether it be women, the disabled, mexican-americans and other hispanics, immigrants, muslims, the list goes on -- stuart: leslie, may i remind you that it was hillary clinton on the campaign trail who called people like me who support donald trump racists, sexists, homophobic, anti-islamic people, that we were deplorable and irredeemable. i would really call that sharply divisive, would you not? and it was president obama who on monday tried to link donald trump to the klan. i would say that that is extremely divisive. >> well, unfortunately, the kkk has endorsed donald trump -- stuart: oh, please. >> and -- they have, they have.
stuart, they have. stuart: i've got monica crowley with me, and i want monica to answer that because i'm so steamed, i don't think i'd keep my temper. >> hi, leslie, and she's my dear friend though we agree on nothing. >> hi, monica. [laughter] >> should every political candidate be responsible for the actions of people who say, hey, i endorse you? stuart: yeah. >> oh, no, no, no -- wait, wait -- stuart: tried to link his opponent to the ku klux klan one day before the -- oh, please, leslie. >> that is the most despicable politics i've seen at the presidential level. stuart: that's what it was, despicable. please answer, leslie. >> wait a minute. i would agree, monica, that somebody is not responsible necessarily for the comments or the actions of another group, but you are responsible for your own rhetoric. so i would agree with liz somewhat that a president-elect trump needs to be very clear on what's happening. i'm going to tell you guys something that's startling to me as a parent.
my son, who's 9 -- and who you've met, stuart -- was adopted. he was born in pakistan. and the morning after the election he woke up and asked me, mommy, did hillary clinton win? and i said, no, she lost. and he said to me, is mr. trump going to send me back to pakistan? that's conversation children -- and he's 9 -- are having in the state of california where i live where we have a huge immigrant population and also a huge undocumented immigrant population. stuart: would you like to answer that, anybody? >> why not? what's wrong with donald trump making a statement? >> and, look, by the way, here's the president-elect. he gave a beautiful, inclusive message of change on election night when he came out on stage. that's all he needs to say. i am going to be the president for all of the people. all he -- >> this is about dialogue. >> he doesn't have to start machine gunning every single bit of criticism that comes to him. stuart: you think that donald trump must come out and say, oh, i didn't mean that about the
klan -- >> well, if you'd let me finish -- stuart: go! >> forgive me, forgive me. when you have cnn debating, and i'm not agreeing with them, internment camps, it's absolutely ridiculous and pathetic that they're there. when you have the nation putting out those kinds of stories, and i hear what leslie marshall is saying. we don't know what his policies will be on immigration yet. there is deep fear in the country that people will be deported. he himself and people in this campaign have talked about turn i.c.e. into a deportation force. there is nothing wrong with the --ened, i agree with that. i'm not disagreeing -- let me finish -- for him to put out a statement that calms the waters. big deal. stuart: okay. let me reset. it is 3 1:30 -- 11:30 a.m. eastern time, i'm surrounded by friends and rivals. [laughter] no, that's not right. only on the big board, almost all stocks are up, we've got a nice rally for the dow, it's up 123 points. but the other story is a sharp
decline in big name high-tech stocks which are really way down. look on your screen, please. amazon's down $30. alphabet google down almost $30. facebook's down $5, etc., etc. big tech is down. on the left-hand side of your screen, very shortly -- eight or nine minutes away -- you're going to see something historic. you're going to see the sitting president, president obama, shake hands with the incoming president, donald trump. that's what we do in our democracy. that is the peaceful transition of power, and you're about to see it. it will be an historic event, and you will see it then. i should remind you that they are meeting now. there's no cameras in this meeting. we don't know what they're saying. it's a meeting about the transition. maybe it's about president obama's legacywhat donald trump's going to do with it. i'm not sure about that, but you will see them shake hands very, very shortly. i should tell you that there is another meeting going on, or
i would think if donald trump card and mrs. clinton in order to hold a political extract would have to pardon some others as well, like general petraeus. god have mercy i don't remember which branch of the government teased him. as well for the aggressive prosecutions have been as compared to the non-prosecution. trade to the bottom line is you think it's a good idea? an acceptable move? >> when thomas jefferson entered the white house he promised everyone and returned their wealth and their lands to him. fred barnes still with us. very harsh about hillary clinton and president obama. to pardon hillary and her minions. there's no need to pardon her at
all. you have one of the clinton foundation which i'm not sure in a something to investigate that the higher justice department have obstructed justice. in harnessing the investigations by the fbi of both the e-mails and now the clinton foundation. they are the ones that i think have done the most wrongdoing and they still may be doing more. that's what we need to look at. hillary clinton is a goner. the clintons are history. >> leslie marshall still with us. do you think it's a good idea for a clean sweep pardon hillary and all the people around her? >> yes except for anthony winner. me tell you why. we have a young woman at 15 allegation against him anything
for her claims that should be fully investigated. quite frankly if you don't have a part in a significant if they are in. from president obama or president-elect term. what it would do as it would free up the government to govern. but then again what are republicans going to do without investigations attached to the clinton foundation and the e-mail server. it takes a little wind out of their sails. it would clean the slate and open the door to do with the american people both are aggravated about which is nothing getting done in the gridlock in washington. >> i have to take issue with my dear and long-term friend. the clinton foundation has consumed the work investigation of more than 100 fbi agents peered the return investigations. the national security investigation into whether she tailored her behavior as secretary of state to favor
donors to the foundation of whether the security in the clinton foundation investigation as to whether it's a slush fund or in the legal chart. those things will go away unless the fbi is either shut down or they are told they can seek an indictment. president trump will have to make a decision. >> there's one other way gets shut down. it's not donald trump. if barack obama. if he pardoned her come in the investigation stops and the reason he wants it stopped is because if she's guilty, so she. >> i don't know if he's involved in the clinton foundation. he might be involved in some of the decisions. >> he was the sitting president. he was aware of the some of the stuff going on. he's never made the statement and no one has ever asked the president. your secretary of state had a private unsecured government server where she was with your own foundation business. how do you feel about that?
sure into your dangerous girl. >> i think you're on very thin ice because if the justice department has been believed, there is no longer an investigation that's been shut down for the second time of the e-mails in the e-mail server. as i understand your argument, the strongest case would be was the president complicit in mrs. clinton's decision to secretary of state that favor the donors to the foundation. >> aware of the period >> i don't know that would be the crime but it certainly would make a witness in the trial. stuart: that may reset everybody. it's now 11:39 good meeting president obama and president-elect donald trump behind those doors in the white house. we believe they've been meeting for about 80 minutes. we don't know what they've been talking about. it's a transition meeting i do believe that there's lots of other stuff double, good at some point we are going to get
videotape and is easy on the bottom of your screen would be historic video or president-elect term meeting with president obama did that is what we do. it'll be a handshake. another story entirely. you will see it. i know you've got to go. you have any last-minute comments? >> i got clobbered by some of my strongest allies and sources in the government and suggesting that mercy should trump. they do not agree with us. >> the rule of law would be paramount. the law should be applied evenly. >> i'll tell you what i think will happen. if there is no pardon of her it will not be the justice department prosecutor. he'll be a special prosecutor to maintain substantively and apparently independence.
independence from the political force. trade you one more item i need to reset and that is the performance of high-tech stocks. you are seeing the big-name technology stocks are really, really sharply lower. the kind of decline you really don't do that often. there they are in your screen. amazon down 36 bucks. apple is down to 107. facebook is at 118 team from a 5-dollar drop. google is down $32. they started -- ashley: this is an e-mail that was just sent out a donald trump a little earlier to his supporters. it sat than it reads for far too long far too lower for washington politicians give the excuse that it cannot be done. they say we can balance the budget, we can't stop corruption, can control the border. i refuse to accept that it cannot be done. this is a country that declared
its independence from a won two world wars, landed a man on the moon. this is america. we can and we will get it done. stuart: leslie marshall, i'm not sure whether you heard all that, but essentially donald trump saying i can do this i can do this. what do you make of that? >> there a couple of things. but he references in our history as a time when our country came together. world war ii the perfect example of that. i'm not sure he's the guy that could bring this country together. secondly, something i've had a problem with is the eye, i., i. we are weak, weak are weak on the wii, wii. wii is nation, we as a people and the president has to work with both chambers of the house and senate and the american people. those are the only two issues i have with. i hope the unity as possible. i have a lack of trust this is the guy to do the uniting. ashley: he does that it is time
to start brining the winds of our divided nation. i promise to be a president for all americans. trade for all three of them striking magnanimous uniting tons of president and the president-elect and hillary clinton. stuart: i think we can agree on this. leslie, thank you for being with us today. i got angry at you. i take it all back. you're all right. she's still there. >> stuart, it is good for my blood pressure every to get angry at me and we kiss and make out. stuart: my blood pressure has got to come down. you are killing me there. i've got with me now famous michael goodwin is a pulitzer prize-winning journalist who writes stridently in a manner. am i allowed to say that? >> not the strident part. forcefully for trying. transmit th a new change.
back then. >> i think his supporters are really more interesting that trump himself and his people who have felt betrayed abandoned and you have been betrayed. they are not wrong about this. their lives are actually in decline. we've seen and those statistics, mortality rate in the breakup of communities and we see the declining incomes and education. these are people who deserve to be heard. they were not being heard. in fact they were being punished by the previous administration. the policies were punishing them, making their lives more difficult, more onerous government intrusion. stuart: it was trump who brought that out. he was the first person to say that trade and immigration policies are hurting ordinary americans. >> these people are savers.
zero interest rates hurt them, too. there are a number of ways they are hurt by globalist thinking system. stuart: fred barnes, are you there? can you hear me? >> yeah, i'm here. what i need from you is your comment on this at their meeting that is going on in washington and that is the president-elect, paul ryan speaker and leader of the senate. i think that is a very important meeting. they seem to be working now but they're going to do in the future. it seems to be a coming together of republicans. have i gone too far? >> i don't think you're going too far at all. as to the benefit of both republicans on capitol hill and that is mcconnell and ryan and their members and donald trump to come together. you have two things merging here. it is the traditional conservative reform agenda whi has been put into shape already by paul ryan and in particular
what michael was talking about, the new populist agenda on immigration and on trade that been fashioned by donald trump and most republicans agree with. the big change i think is going to be in the republican party because when you put the two together, you win national elections was trump just did. when you just have the traditional republicans, conservative reform agenda which as i said before i agree with, you lose. that is why romney lost in 2012 and mccain in 2008. among other things that trump has done. if these two things merge, it saves the republican party. stuart: hold on a second. we just saw the dow industrial take a modest leg up. we are now up 160 points and i'm picking up report that the trump team is looking at jamie dimon
is a possible treasury secretary. transfer that has crossed. student edition from goldman sachs to run the finance committee. also getting more color for you. the white house chief of staff dennis make down a buzz with trump is jerry kushner across the back edge of the rose garden. those two looked to be within the white houe. stuart: these reports have not been confirmed. they are flipping around out there. i haven't confirmed them yet. that's a possibility. go ahead, please. >> you can't confirm them. nobody knows anything. some name they've heard. nobody knows. trump didn't have much of a transition. his very superstitious, didn't want to set up this big fan planning on the new government before he actually won. good for him. they'll go through a process and maybe some of the people close
to trump and i suspect some will get top jobs. all of these reports now are based on hot air. stuart: one more issue i want to bring up the people around a table specifically monica crowley and michael goodwin. i think they disgraced themselves with their over-the-top in the tank going for clinton campaign and michael occasionally working with the clinton campaign. can they come back and get credibility back? >> that was a real revelation thanks to wikileaks about the coordination, the confederacy of working against one party in service of another. we've never seen anything like that. i don't think we know the full extent of that yet. i call upon the leaders of these media organizations, cnn, "new york times," "washington post," others like that to do their own and house autopsy. bring in an outside law firm or
tearing loose your best reporters and they tell us what we really did here. tell us how we missed all this peer stuart: front-page "new york times" companies out us wonder where they stumbled. >> that's just a prediction. liz: they didn't stumble. taking responsibility and trying to get their acts together shouldn't just be the chairman of these networks. it should go higher to the chairman of the corporate entities that control this. example is cnn which donna cnn which done a merciless beating questions for the cnn town hall should be the chairman of time warner who gets involved. not just the chairman of the network. the other thing i want to say this with always on the media has been on the far left and biased in that projection. but we saw this he was quantitatively or qualitatively different in the level of act to visit them for one side versus the other. ashley: did the times, out and
admit. >> no standards. that is a phenomenally important distinction that they made that we are breaking our own standards because he's so reprehensible. stuart: fred barnes, i know you are there. we can hear you. make your point. >> look. >> look, the media can't come back. the washington ports, "new york times" can't come back and say now we are just reporters. we just want to cover things. after the role they played in this election, they have to come to grips with that. they're not going to apologize, that they need to explain that they did it completely biased reporting like we've never seen in the centuries of american history. they done something different and decided totally with one candidate against another. i would read the "washington post." four or five negative stores on donald trump. they need to admit it come
explain why they did it and promise never to do it again. perhaps apologize. the press never apologizes. there is a problem here that they have. they should be treated by average people who they are trying to cover as reporters now. we're just showing up, just asking questions. only care about is the fact they have reputed bad. >> i think donald trump should take this into consideration. every president when he or she wants to leak something to the country, they do it through "the new york times" or the "washington post" for an exclusive interview to cbs. donald trump should break that pattern. he owes them nothing. he should treat them like he treats everybody else. he shouldn't be barred but they should get no special access. stuart: can we put up those
big-name aspects. i don't want to lose sight of it. these are the biggest names in the world in terms of technology and they are taking it on the chin today. a complete contradiction to what is going on in the rest of the market. sharply so good about 143 points. that's an all-time high of the doubt. we look at that? amazon is down $36 per share. that is close on 5%. apple down to 107 down 3%. facebook is down five bucks. that is one a team player. microsoft i do own some of it. it is the 50th 33 down 3%, a smaller loss for microsoft and look at google. it is down or be $2 per share. we are going to find out what's going on here. earlier today that people in china to make the part for the
apple iphone report disappointing sales. they're in the supply chain. disappointing performance. the implication was maybe the other big-name technology stocks are also having some trouble. then i can then that amazon and facebook run by jeff bayh says an amazon and maybe they've got some personal problems that the president. donald trump has been quite critical. he called for a boycott on apple when they refuse to give terrorists. stuart: i'm surprised at the magnitude of the sellouts. never before on a day when the rest of the market is going straight. >> movies put a report out that grumble trade issues will hit silicon valley hard.
basically he has said no to the tpp trade deal which is 40%. we get that. we understand that. silicon valley really back there. the anxiety is policies right now are opaque. she has said things that have been pretty strong. it's hard for silicon valley and other groups to digest it. >> they have to know the tpp instead. mr. publicans are against it. they're gone. liz: they don't know what his trade policies will be right now. >> to just suggest to me that when movies put out a report an hour ago, two hours ago, whatever was coming that seems an awfully strong reaction on the part of these big-name tech stocks, one report from moody's. the trade situation where we are not going to get tpp.
ashley: it could be people taking profits out of the sector and putting them into other sectors of the market. they are considered very pro-donald trump stocks. stuart: michael goodwin i think think of you as a politician. did you take rocket in amazon? >> i'm the one. look, it is hard to explain how one sector could hate so differently based on one report if that's what it is it doesn't make perfect sense. there's a lot of fear and loathing that is simply misguided. a lot of people wanted to leaving "new york times" and hillary clinton admitted in a caricature that is simply not ue stuart: has a look at the world have been today is picking up stuff from all over the world here they are just dumping on trump like you wouldn't believe. the new hat or something. >> they are horrified. what we saw last night for this
half hearted leftist protests major cities around the country. this is organized and funded by people like george soros and the reason is because they are trying to distract from the narrative of trump's mandate, his election to the presidency and his agenda to take attention away from that. they filled yesterday that they're not going to stop doing it. stuart: i don't think they've gotten over it. >> they'll never get over it. the left is all about chaos and destruction and the idea of donald trump will come in and remake america, and they cannot stomach it because they have so much success under this president is one of them that the idea that barack obama's radical community organizing of the country in the world is going to be reversed. they can't take it and they are going make trumps life holy. stuart: we can't see fred barnes but we hear them in the
background. >> i'm not worried about these tech stocks. look, they are going to make so much money. they're having a bad day. maybe they'll have a few more. people are going to make a lot of money on them. so much of this stuff is just a short episode of all those foreign leaders that are upsetting someone. they have to do with donald trump. he'll be the most important leader in the world and they will come around. no question about it. what they say now and they are scared and they don't know they don't notice or not, those things will be straightened out and they'll be wishing that they could deal with what theresa may is going to do and that is getting invited to washington. >> is issue which i've not heard even mention very much in the campaign and certainly not during election day itself and that issue is climate change. a german official sean paul
junker and think his name is said we clarity on trade and climate change. >> i don't think that's at the top of donald trump's agenda. >> i would argue with a giant political climate change. stuart: very good. i know you've got to go so i give you the last word here at >> climate change has never been an issue that the american voter cared about whether they were liberals or conservatives. it was always way down on the list. the other thing of course is the climate at the moment isn't changing. stuart: let's not open up that pandora's box they are. i don't know about that. there's always went there. fred barnes, thank you for joining us. we didn't see you. you can make a single appearance on camera, that you are felt and that is a fact. thank you indeed. what are we waiting for here is that view, that picture, that
video. ashley: the money shot. stuart: it is a very important picture. that is barack obama two days after the defeat of the democrats in the election and leading to new incoming president designate that would be donald trump. michael parker, michael goodwin, and do you know why he is the president designate and not the president-elect? >> because the electoral college . >> i'm still referring to him as the president-elect. the electoral college will do the right thing. i have faith in >> a restored my faith in the american people and i feel at the country has a second chance to give back to its foundational principles. stuart: we are still flying high. >> people are so surprised.
ashley: we cover it since it came down the escalator. everybody, thank you very much indeed. it was great having you. our time is that. it is yours. >> stuart, thank you very much. you are looking at the white house were of course the president and his successor are meeting behind closed yours. i have heard going into this meeting 29 times out, not just on our network, multiple networks to be a fly on the wall. it is tough because even if you could talk to the fly afterwards, the fly doesn't speak, so what do you do? maybe a hidden microphone, to be invisible if you want to extrapolate. my point is we in this