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tv   Varney Company  FOX Business  November 15, 2016 9:00am-12:01pm EST

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>> that will do it for us. big thank you to ken langone. >> thank you very much. maria: stuart, over to you. stuart: trump staff picks, here they come. 19,000 on the dow, and it's close. the democrats are mounting an all-out attack. good morning, everyone. it's happening at trump tower in new york city today. mike pence is flying in, they're filling top jobs. treasury, state, press secretary, you will recognize the names of likely nominees. this transition is moving very quickly. separately, trump has talked to putin, teaming up to beat isis?
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mexico reportedly making plans to deal with deportees. and china fires a warning shot on the trade front. investors not phased at all. a series of records force stocks and looking stronger, they open today. we're about 130 odd points from 19 k. how about this? technology stocks are stabilizing. the suspects still leaderless and they're focusing their attention on steve bannon's, the president-elect's chief strategist, it's an allout attack. senator harry reid will take to the senate floor to call bannon an anti-semmite, a racist, and "varney & company" is about to begin. ♪(music) >> president obama is in
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greece this morning and this is his final overseas trip as president. he's reassuring leaders about his successor and going on to angela merkel. we'll see if he says anything about donald trump. another record close for the dow, the record 12th of the year, 18, 868, what, 130-odd points from 19,000, we're within reach today. take a look at tech stocks, since election day, big losses, down 5% on apple. amazon 9%, facebook 7%, these are significant losses and microsoft on your screen, 4 1/2% and google 7%, now, the news this morning is that these stocks have stabilized at these new lower levels. take a look at apple. that stock is going to open around 106, up slightly. it's reported--
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the big company is reportedly looking into, wait for it, smart glasses that would work with the iphone. [laughter] can you say google glass or what? >> we know how google glass worked. it was a flop. tim cook is under pressure at apple to come up with the new huge product, or successful product as we see iphone sales sliding and revenue, two-thirds of total revenue, this is something apparently put out there, to give it a test. you'd wear these glasses, much like the google glass. stuart: that's it right there. >> apple, you'd show images and they'd be connected wirelessly to your iphone and you'd have other data and information seen within the wearer's field of vision. when the glasses came out, there was a big backlash for privacy. stuart: i'm laughing because i'm looking at elizabeth's face.
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liz: looking at that, my eye-- and then ads, possibly. stuart: i just did not work that out. how do you use these? >> if they do do these, 2018 is the earliest they'll come to stay. they're testing it. . liz: what about driving maps and directions. ashley: exactly right. stuart: i'm not sure about that. i'm asking my lawyers about my ability on that one. all right, big story today, some of the biggest names in politics, media and business are discussed for top positions in the incoming trump administration and moving quickly on this. we hear the following. possibilities, rudy guiliani, secretary of state. laura ingram white house press secretary. ste steve men nurturen, rick grinell, dr. ben carson,
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education or health and human services. i'm looking at trump administration, looks ke the old guard, where is the youngblood and-- >> i don't think that you can consider laura ingram or ben carson part of the old guard. these individuals have been fighters, they've been fighters for donald trump and understood this outsider message early on, they understood that the idea of moving forward with just accepting what the establishment would want for the nominee was not in their plans, and so, i really see, when you look at this group of individuals, you find a mix, those that have the experience in washington and some of those who are outside of what you would consider, that would be a natural pick for some of these slots and i do think that donald trump is sending a clear message. he's bringing in a mix of insiders and outsiders and i think that's a very strong balance. stuart: i tell you-- for this administration. stuart: he's moving very, very quickly.
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mike pence has flown up to new york for this big meeting in trump tower today and maybe we'll get some appointments as of today. that's quite a possibility. will you stay there for a second? i want to bring in former trump advisor and market watcher steve cortez. what do you make of steve mariucci mnuchin for that, what do you make of it? >> you know, when i look at these possibilities, i'm a child of the '80s and i loved the show the a-team. ling the political version of the a-team. we're bringing in the best and brighter with outsider experience and private sector folks, specifically, regarding mnuchin for treasury. he's a deal maker, not just successful as a wall street deal maker, but went to hollywood and became a very successful film producer of films like "american sniper". i have no doubt he was on the
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trump campaign very, very early and understands trump's economic message better than anybody else, ab and he'll be a fierce negotiator for america first and that's the theme. stuart: wouldn't that be something, the treasury secretary of the united states of america is a movie producer or has experience as a movie "american sniper" hold that thought. i'll bring you back, steve, when the market opens. thank you. now, harry reid and nancy pelosi are railing against trump's choice of steve bannon as chief strategist. senator reid will denounce bannon on the senate floor today. mercedes, come back in again, please. it seems like the democrats are focusing their attention and picking on this within guy, calling him a white supremacist and trying to tar the administration with this guy. a successful move or what? >> no, it's absolutely appalling for senator reid to make these comments about steve
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bannon. steve bannon is a very private person, someone who know him know he's pro israel, not a racist in any way and the fact is that he understands clearly the importance of america, of america as a nation. and the sense of this poplist movement and the working cla. anyone who worked with him knows he's a brilliant strategist. i find it disappointing, i know that bannon doesn't necessarily defend himself, he's very private and there have to be those that worked with him. stuart: he had an interview with mother jones not that long ago and in it he said that white supremacists are attracted to some of the philosophies of the alt-right movement of which he's a part. it does not define the movement any more than extremists define the democrats.
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that's what he said in hits defense. >> in both parties, there are fringe elements, on the left call them communists, on the right call them white supremacists. trump denounced them. and what trump has focused on in his campaign has been about talking about the american worker and the working class. the white supremacists are going to do what they're going to do. they're not a part of this administration and that's clear. stuart: and the headline, ban nban en is accused of racism, going after bannon. mercedes, thank you. >> thank you. stuart: chicago's mayor rahm emanu emanuel, denouncing the
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president-elect's plan to deport criminal immigrants. if you want a margarita with your taco, the restaurant will serve alcohol, tequila in particular. we leave you with this, john lenin's wife yoko ono, you're about to hear her protest at trump's election. consider this a warning. roll tape. [ hey gary, what'd you got here? this bad boy is a mobile trading desk so that i can take my trading platform wherever i go. you know that thinkorswim seamlessly syncs across all your devices, right?
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>> be clear about what chicago is. it always will be a sanctuary city to all those who are, after tuesday's election, very nervous, filled with anxiety have been spoken to. you are safe in chicago.
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you are secure in chicago, and you are supported in chicago. stuart: who exactly is safe and secure in chicago these days? that was the mayor, rahm emanuel. by the way, he's not alone in taking this stance. the mayor of new york city bill deblasio has vowed to defy trump. we have this from the chief of the l.a.p.d. roll that tape. >> this is a monumental task especially in california. you know, we have probably 500,000 undocumented folks just in the city alone. you know, and we have no intention of making that enforcement priority. this is a population that we police and police successfully by building partnerships not by targeting them because of their immigration status. stuart: well, i think they were talking about deporting criminal aliens, not just undocumented people period. liz: quite true. stuart: that was missed in that there.
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lt. colonel allen west is with us. what do you make of this defiance of what incoming president trump wants to do. >> the united states of make is a sovereign nation which is a constitutional republic based on the rule of law and based upon us having borders that have to be secured. what i see happening here are individuals who are leaders in cities, that are saying that they will defy the rule of law in the united states of america. and in essence defy the constitution, so it harkens me back to remembering when brown versus board of education was passed and you still had leaders that were down south that said they would defy that order, that decision that came down from the supreme court and it was a republican president by the name of dwight david eisenhower to federalized the national guard to make sure that young black men and women got to have the opportunities for education. so when i look at what these gentlemen are doing, they're saying that they're going to
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put their own political ideology above the rule of law in the united states of america. that comes with consequences and i think they're challenging a president to say that we will undermine the constitution, which i think is not a good, high ground position for them. stuart: somebody has to ask them, who can stay? i mean, if you are an illegal person in this country, you're undocumented and illegal and you commit a felony, are these mayors in chicago and new york saying, that's okay, you can stay? are they really saying that? 'cause i think they are. i think that's what they're saying. >> you're exactly right, stuart, that's exactly what they're saying and again, that shows that they are willing to put the safety and security of the american people beneath that of their own political ideology and let's come to an understanding. this is one of the main reasons why what happened last week happened, because we have people that are intrancegent in
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their ideology, let's be honest, they're here illegally and if they're committing a crime on top of being here illegally, they should not be here. if you're concerned about funding, i'd be concerned about that. mayor emanuel and others should be concerned about federal funding. let me tell you something, what a great way to take some of the fund away from these cities and put it toward debt reduction in the united states of america. stuart: allen west, we hear you. thank you. >> appreciate you. stuart: i'm going to bring home depot to your attention, it's going to be flat at the open despite the fact that the sales are up. it will open a fraction higher. that's home depot. moving on, how about this? a high school teacher in california was placed on leave after a lesson in which he compared president-elect trump to adolf hitler. ash.
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ashley: his name is frank navarro, he's a history teacher, teaching for 40 years in the high school system in northern california and indeed he did compare donald trump to adolf hitler. a parent complained and he put on leave. he said free speech is squashed. he said everything is based on facts, it's not based on bias or propaganda. stuart: what facts? it's an opinion actually. ashley: he says, no, history proves him right. he's now on leave. liz: where? >> yes, he's on leave. paid leave. we talk a lot about liberal lunacy on is this program and what we have for you, the self-proclaimed deplorable professor, suspended after speaking out the pc culture from nyu. he's got his job back and a raise. did we have something to do with that? probably not, but an update on it. the professors at university of virginia sent a letter to the school's president and stop
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quoting thomas jefferson. we're reaching for an explanation here. wow, x1 has netflix?
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that's advanced auto parts. how about that? let's get back to liberal lunacy on the campus. this time the university of virginia. under to-- founded by thomas jefferson. the president of the university is asked stop quoting him. stop talking about and quoting thomas jefferson. this requires explanation, i'm not sure, but liz is the person for the job. liz: because he owned slaves. the letter was drafted by a professor and say it's because of that that you should not be quoting thomas jefferson. despite the fact that he was proponent of individual rights, for tolerance and he didn't like the slave trade at all. he had written about it during his time. stuart: this is a ridiculous attempt to rewrite history or rewrite people out of history which absolutely cannot do. liz: the founding father who founded uva is being attacked and savaged right now on his own campus. stuart: it's pathetic. liz: it's pathetic, it is.
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they should study it more instead of attacking it. stuart: we had a guest on the show, i think last week. ashley: there he is. stuart: the deplorable nyu professor put on paid leave because he was critical of the pc culture and use of safe spaces. now, what's happened to him, ash. ashley: he compared academia to a mad house. guess what? he's back on the job from his paid leave. he's been given a raise and promoted from clinical professor to full-time professor, so, i don't know whether stuart varney should get a little help from that. stuart: i doubt it. ashley: i think we gave him an opportunity to have his say. stuart: we did. ashley: he talked about the mad house and lunacy on campuses, the political correctness, safe spaces, you name it. it's ludicrous and he spoke out about it. stuart: which shows you there is hope. it's not a oneway street, straight down to the cataclysm. maybe we can bounce back. ashley: a good example.
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stuart: that was high school kids, wasn't it walking out of school in maryland, is that right, producer, from yesterday. liz: wouldn't any student cut class if given the opportunity? why don't they do that after class. stuart: have we lost control? connell: . >> yes, temporarily, it will go away. i just want them to be studying. stuart: maybe the parents will tell that. remember when google took a stab at making smart glasses and i think they put a pair on me. it didn't catch on, and they got panned and some people said it looks silly. and they gave up on them. now, we have word that apple is working on glasses of their own. another record higfor the dow industrials, 18, 868, do the math and we're what, 131, 132 points away from 19,000. looks like we will open ever so slightly higher this morning. i wonder if we'll give 19,000
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>> 25 seconds to the opening bell this tuesday morning. we will be coming off the 12th record high for the dow
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industrials this year. i'm going to call it the trump growth rally. still seems to be in place. when we open up ten seconds from now we're looking at ever so slightly-- oh, flat to slightly lower. that's what the futures are telling us. let's see if that actually works in practice. it's now 9:30 on the button. we're off, we're running and where are we going? we're down 10 in the early going, plenty of green and now down a fraction. i'm going to call that an almost dead flat opening. how about the s&p 500? the same story there? yes, we have. we're up 4 points, that's a fraction of 1% and nasdaq up .43%. s&p and nasdaq doing better than the dow. the price of oil this morning is $44 a barrel. show me gold. is that below 1200? no, it's not. it's at 1221, big slide recently though. the yield on the 10-year treasury, 2.23%. worldwide interest rates up, stocks up.
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that's kind of unusual. here is-- here are, i should say, ashley webster, liz macdonald. todd horowitz, mike murphy and steve cortez. the dow 12 records this calendar year. i'm going around the block. when do we hit 19,000, todd horowitz, this week, 19k. >> is good morning political crit correct? want to be sure. at 19,000 this week, my guess is we hit it this week. you've got operations expir rigs, i think it will be 19,000 before the week is over. stuart: steve cortez? >> my guess is we'd hit it this week. i'd watch crude oil. it's bouncing back nicely today. if crude turns around and goes lower, closer to $40 a barrel, i don't think we get it this week. if crude hangs in, i think we easily get it. stuart: what does mike murphy say about 19,000 on the dow? >> i think the momentum is to the upside, i think we'll hit 19,000 soon however, i think
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the market is richly priced. i wouldn't be chasing at this. stuart: from warren buffett and berkshire hathaway, buying american, united and delta. thises a surprise because he never used to do that. liz: called him a bottomless pit in 2007 and added to southwest airlines. look like 1.3 billion so far, he's made-- he's had a return since september 30th of 21%. made 280 million dollars, labor workers, fees from services and lower fuel costs and basically, he's, you know, bullish on the airlines right now. stuart: mike murphy, i see them going up big time. >> they're going up on this tuesday. you have to give warren buffett credit, he's in his 80's and changing his tune. i think that's great. he's been against airlines and now for them. buying them and i think it speaks, stuart, to the fact that he sees lower oil prices. ashley: maybe buffett didn't make the call and he's relying
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on his lieutenants and maybe fresh blood going in an opposite direction than he would. stuart: and a lot of money in those, and southwest, you say, all of those up. another story on buffett about wal-mart. what's he doing with wal-mart? >> he's bearish on wal-mart. he cut the stake. it was at 60 million shares and now down a fifth of what it was a year ago. he told an investor meeting in the spring, amazon is basically eating wal-mart's lunch. so, it's now down to just $1 billion is the value of berkshire hathaway's stake in wal-mart. stuart: that's interesting and i've got wal-mart at 70 and i've got amazon up $9 at 728 as of now. that's an interesting play between the giant bricks and mortar guy and the on-line king of the world. all right. let's take a look at apple. well, you may have seen this story earlier on this program today. they're working on smart glasses. i mean, you remember google glass? well, maybe they're doing
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something the same. >> well, google glass has a huge flop, but they're ordering the parts for what they would be apple glasses, i guess. they're testing it out. they're looking for the next product, because they are relying on the iphone. iphone sales are slowing down. stuart: justin, you say what, elizabeth warren-- elizabeth warren is at a wall street journal event in washington d.c. and stridently criticizing steve bannon, now in charge of strategy for incoming president donald trump. she does not like bannon, democrats are focusing attacks on trump by focusing on bannon at this point. and we'll get back to elizabeth warren if she starts talking about the banks. >> she must be, all the banks have turned south in the first few minutes, j.p. morgan, and
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others-- >> she's got no power. she's not going to chair the banking committee. she has no influence in the senate to my knowledge. you want to listen in. listen to elizabeth warren briefly, please. >> this is a man who has right supremacist ties, that's what he does. he told his ex-wife that he doesn't want his children going to school with jews. this is a man who ran a news organization that ran headlines like would you rather your children have feminism or cancer? this is a man who says by his very presence that high school a white house that will embrace bigotry and you know, here i am with the business leaders of america and i just want to underline something that every one of you know, bigotry is bad for business.
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bigotry is not what your employees expect, bigotry is not what your customers expect and if that's the direction that this administration goes, that creates a real problem for everybody. and what i believe about this, there's no longer the possibility of a question of someone like bannon in the administration where donald trump goes next. i don't think it's possible to stand on the sidelines and be quiet about this. there are a lot of people in this room that helped lead the charge to make work places open and accepting places to say we're open to all customers, we want to make sure that we serve all americans, that we treat everybody with dignity and respect. if this white house goes in a different direction, that damages every one of us and i think it calls on the business community for leadership, i think it calls on the democrats for leadership, but i think that's the problem we've got
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and one of the ones we're going to have to deal with going forward here. we can't ignore this. >> as you suggest there are millions of people who voted for donald trump. stuart: that was a vigorous attack on the incoming trump administration, specifically, mr. bannon. steve cortez, trump guy, what do you make of that? >> by the way i want to vigorously defend steve bannon. there is a lot of character assassination and the democrats did this during the campaign. i don't want to relitigate the campaign because thankfully we won. they're continuing some of these tactics, when they don't want to talk about policy, don't want to talk about philosophy, what do they do, they name call, call us racist and anti-semmites, they're almost starting to lose meaning because they throw them around willy nilly, for them to say that steve bannon has ties to white supremacists, that's false on its face.
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are there some white supremacists attract today certain elements of the alt-right movement, of course there are. there are loons in every movement. we're tens of millions of americans and there are unsafery characters on our side. a small number. the same thing on the left. it's totally, totally unfair to try to affix them to someone like steve bannon. stuart: back to the markets, we're down 26 points for the dow jones industrial average. bank stocks have turned south. look at twitter, announcing a new feature that would allow users to mute words or phrases that they don't want in their updates. now, what's that about? >> they're expanding the mute butt button. if there's a troll, you can hide their tweets or conversations about you, and any phrase, so, you know, by the way, disney and salesforce passed on twitter because of abuse. stuart: if got rid of the troll
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would you buy them at 19? >> i would, prefer 17, 18. the stock was just $25 a share. what twitter needs to do is avoid fake people on the site. i can create an account and attack you all day long. i don't have to stand up to it and say who i am. that's what they ultimately have to get to in my opinion. stuart: on the left-hand side of your screen, president obama is in greece this morning, he's holding a joint press conference with the prime minister of greece. if he mentions and talks about donald trump, we will tell you what he's had to say. we're now down 34 points on the big board. i want to check out some of the big stocks that are moving. tjx, the parent of tj maxx and home goods. let's see where they are at the moment. virtually dead flat. alibaba's rival, that's jd.com. they say that their sales only grew slightly, nonetheless, they're up 7%, okay? very good numbers at advanced auto parts. they were up $14. they're up 14 now. no, sorry, they're up 14%.
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that's a $20 gain. a very nice gain. back to liz warren. let's see what she's saying now. >> and say, i know, let's just turn a bunch of wall street banks loose and see what they can do. what could possibly go wrong, right? let's not remember what happened in 2008 and the run-up to 2008. i think the appetite for that among the american people is zero. and i think that's exactly what was demonstrated in this election. >> mitch mcconnell were here he would say we won control of the senate and we kept control of the house. >> excuse me, i would say to mitch mcconnell, we got-- hillary clinton got more votes than donald trump did, we took seats in the senate and we took seats in the house. he has fewer senators on the republican side than he had before this election. and paul ryan has fewer house members on the republican side than he did before this election. what i'm saying is whether people were voting for hillary clinton or for most of them, whether they were voting for
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donald trump, they weren't voting for mitch mcconnell and paul ryan's deregulatory mix, let guys do whatever they want to do. let giant corporations do whatever they want to do. >> let's talk about that regulatory agenda. two big issues which you have been identified with very strongly, one is the dodd frank legislation and we actually have an audience question i was going to ask about. there is a question now of what the future of dodd frank is and i think we have an audience question that can be put up. maybe not. yes, no? all right, well, we'll skip that then. the question is, will there be a run on dodd-frank, will it succeed? here is the question. so, this is what people in the audience and then i want you to answer this. >> okay. >> what happens to dodd-frank now? some modification of it, get eliminated or live on unchanged. i'm curious what the audience thinks, more curious at the moment what you think. >> before i talk?
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>> don't think this will take long now. >> i think there's some consultation going on. >> it's rigged. the system is clearly rigged. we agree on that. >> you think they're pushing the buttons? there we go. some modification. >> some modification. >> one in ten, complete elimination. >> nobody thinks that it's going to live on unchanged. >> okay. your answer. >> so, look, you want what i hope happens or what i think-- . >> i want what you hope happens and what we think. >> what i hope happens, we have some modifications, i don't think that dodd-frank was tough enough and donald frank-- donald trump, let's be clear here. donald trump said-- >> i think they had a different kind of modification in mind. [laughter] >> you know, this is the risk you run when you open something up to modify it, where does it
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donald trump says that he supported glass-steagall. we have a really goodbye partisan glass-steagall bill. john mccain and i are co-sponsors on this, angus king, maria campbell from washington state. it well thought out glass-steagall that says we're going to separate banking, it makes it safer. we're going to make boring banking more boring and if you want to take risks, you can't get access to the guaranteed accounts that we have over in the traditional banking system. going to separate those two. that's good for small banks, it's good for small businesses, it's good for the economy overall, makes it safer and it has a lot about the better regulation of the non-bank financial institutions. so, it's really about fighting the next war, where many of the risks lie with non-bank financial institutions. all i can say the guy just elected president of the united states gave them one a two
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thumbs up. in fact, if i recall, you might all want to remember, it's in the republican platform that this is an official party position to adopt dodd-frank. if you want to ask me about modification, that's the place i'd start with modification. >> what's your expectation? >> the expectation is that there's going to be a lot of-- a lot of fabbing and forth about this, you know, a lot of republicans have dug in on the notion that we need to roll it all back or eviscerate whole parts of that that either you raise dollar amounts enough, there is no regulation, leave it on the books. stuart: this is at a wall street journal event in washington d.c. she does not like the banks and she does not like any reform of dodd-frank. it's having some effect as you saw on the screen there. some of the bank stocks are indeed down and the dow
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industrial average is down. there's no real connection between the dow down 50 and elizabeth warren have a go at the banks. this is not a connection. this might be a pullback after a series of runups. >> absolutely, the banks need to come in. stuart: i have a question for the trump tax cut team, if i can call it then. when are the tax cuts coming? i asked steve moore when are the tax cuts coming for individuals. here is his answer, roll tape. >> we want to cut the individual tax rates, no question about it, but where you get the immediate juice in the economy, you cut those business taxes and that's going to help the middle class because you're going to bring more jobs back to the united states and see the flow of businesses and capital here. good studies, the biggest beneficiary, this is important, the biggest beneficiary of the
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business tax cut is the worker because they get more jobs. stuart: steve cortez you were a part of the team. and steve moore seems to be saying, you have to wait for the individual tax cut. how does it sit with you? >> steve moore is a good friend of mine, a great economic advisor to president trump, i hope. i want to give nuance. we don't have to wait long, why? because we control both houses of congress. i agree that we probably get the most immediate bang for the buck from cutting corporate taxes, i don't want your viewers to worry, oh, no, are we back to cronyism, take care of the big shot and not the other people. we have control of both houses of congress, in terms of sequence maybe the trump administration chooses to cut business rates and then individuals, worry not.
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>> and a lot of people voted for donald trump because they want a tax break for individuals and get the economy going, must not forget that. mary jo white implemented the financial regulations and she's stepping down from her post when president obama leaves office in january. e-mack, investors, i guess, investors will be-- >> well, she has a long and storied career as being a top cop on wall street. she is respected. she was a prosecutor first, ran the sec. what happened here was, senator elizabeth warren demanded president obama that he fire mary jo white because she didn't-- mary jo white to elizabeth warren's mind was not doing enough, she wanted sec disclosures and filings. and she said that's not material to the bottom line and they had a public fight in congress and mary jo white
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saying you have to have the sec remain truly independent under any administration. you need a cap on the beat. stuart: what does mike murphy say? >> she's done a good job and come in at a point when she came out of the financial crisis and regulation increased a lot in lieu of the 2008 banking crisis and too far to one side. it's a great time to have fresh blood there, take a good look at it. our goal isn't to kill banks and investment houses, our goal is to work with them and follow the rules. stuart: and we've looked at regulation, elizabeth warren beating up on the banks and the leaving of mary jo white and what difference would that make. the dow industrials are down 61 points and elizabeth is waving her hands at me. liz: we talked to people at the banks and they feel they're not creating jobs because the jobs they're creating is dealing with government, dealing with government agencies. it's a waist going on. stuart: you think it's a plus if she steps down in january.
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now this, some cities are already challenging donald trump on his plan to deport criminal illegal immigrants. a question for judge napolitano, can they get away with defying the president? he's next. ♪ ♪ oh, oh, you don't have to to go, oh ♪ ♪ you don't have to go, oh, oh, oh ♪ ♪ you don't have to go ♪ looking for a medicare prescription drug plan
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call unitedhealthcare today to learn more about your prescription drug options and find the plan that's right for you. ♪ >> now, we have a relatively flat stock market. we've got the price of oil up a buck 52. a 3 1/2% gain. still only at $44 a barrel and the price of oil pretty flat, $4 higher at 1226. despite donald trump's vow to cut federal funding to sanctuary cities, liberal mayors from new york, chicago, san francisco, they're lining up against donald trump. they're challenging him. including mayor rahm emanuel who says chicago will quote, always remain a sanctuary city. judge napolitano is here. is it legal for a mayor of an american city saying, no, i'm
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defying you, mr. president. >> well, rember of what the defiance consists. this is not the nullification of federal enforcement of immigration laws. this is the refusal of local authorities to expend resources to help the feds enforce the law, which is the supreme court says they may do, stated differently. can the federal government comandeer locals? no. when rahm emanuel says we will be a sanctuary city, he doesn't mean you can't come here and break the law. we won't assist the feds in finding you and seeing you out. why do the feds want that cooperation? because undocumented aliens often have far more contact with police and welfare than the feds do and the locals know who they are and where they are. stuart: so it's okay, legally,
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for ram iman you will, the mayor of chicago, to say, if i've got an undocumented person in the city of chicago and they commit a felony, i will not allow them to be deported? >> that's not what he's saying. he's saying i will not report their whereabouts to the federal government. he cannot stop them from being deported. if there's an actual clash between federal law and local law, the feds would supercede. he's not going to say you can't come into chicago and enforce your law, we will not help you. stuart: could donald trump as president say okay, you take that position, i, the federal government, not going to give you this money here, that money there. >> only if congress authorizes it. so we're in-- when he takes office in january, we will still be in a fiscal year that began october 1st, where the block grants went to the cities without the condition you will cooperate
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with our immigration enforcement. the earliest he could cause this to happen would be october 1st of 2017 if congress puts that condition on the bugetary expenditures he's going to ask to him. interesting. >> coulde do that on his own? >> no, he can't do that, that would be impounding funds. stuart: so that would be-- >> the feds have tremendous assets available to them to find those here unlawfully and in the category that the president-elect wants to deport them. gang members, those who served their times in american jails, got out of jail, are still here illegally, that's the category of people he wants to deport. the feds know how to find them and can deport them. stuart: but the locals won't help. >> correct, now there may be political consequences to the locals not helping, there may be more crime.
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there may be more resources of local governments consumed by the people staying here who apply for assistance so it may be unintended consequences to mayor emanuel's big-heartedness with other people's tax dollars. stuart: there may be some leverage here not a result of some legal move. if rahm emanuel-- chicago is in financial trouble. if they want help, financial help they're going to need the cooperation of the federal government and illinois government if they get it. >> if president-elect trump gets the condition on the block grants that he wants. the pressure on the mayors would be extraordinary to comply with the condition, like purchasing clients. donald trump speaks to president putin on the phone and he says that they'll work together to defeat isis. and mike pence at trump tower
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moments from now, major announcements on appointees could be coming. we are on it. is..
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stuart: the world is adjusting to the coming presidency of donald trump. the earth moved a week ago. you could say it is still shaking. consider this was europe totally divided. they organized a summit to respond to trump's election. the british and french refused to attend. the trump election lays bare the division germany's angela merkel created. a phone call between the president-elect and russia's vladimir putin. there is a switch. mexico reportedly figuring out how to deal with deportees send back from america. along with canada they will talk about nafta. a very different story a couple weeks ago when they thought hillary would win. china threatened to cut imports
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of iphones, boeing planes, soybeans, establishing utterly negotiating, perfectly normal. they know change is coming. iran says change a single thing in the nuke deal. they too know that change is coming. add it up and the trump train is rolling across the world. the world now has to deal with an american not in retreat, that can and will play hardball at the negotiating table. who will be secretary of state? really giuliani, john bolton? either one would signal a change in america's approach to the world and the world is having to adjust. ♪ stuart: moments ago, at trump tower in new york city, being
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considered to be the treasury secretary. listen to what he had to say. >> you want to -- >> we are working on the economic plan until we get the biggest tax. a lot of exciting things. >> anything on your condition? >> not going to comment. stuart: working on the economic plan, asked to comment on who would be treasury secretary, didn't want to talk about that. he did say tax cut. i caught that. if elected, the treasury secretary, he is the man signing bank notes. you will get his autograph all
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over the world. happening anytime now, governor mike pence, vice president elect, now meeting with president-elect trump, busy evening, they will consider announcements on filling the top cabinet positions. give me a list. >> it is really fluid. any guffaws are welcome. john bolton, secretary of state rudy giuliani, laura ingram, press secretary, steve the new g, richard brunel, doctor ben carson secretary of education, mike flynn of the nsa and jeff sessions attorney general. stuart: this is a very big meeting in new york city, 100 yards from us, all of them together. i expect a major announcement by the end of the day. >> that will calm the waters to have a solid team in place. stuart: let me show you what is
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happening in the markets. we have been open for 33 minutes and we are down 38 points. look at the big tech names. this is where the money has been flowing until the last week. way down since the election, seem to have stabilized this morning, apple, amazon, and facebook all of them up two percentage points, moving up this morning. home depot moving lower, better sales, that is the company that is down $2 on 25. countries around the world preparing for the trump presidency, kt mcfarland, member of trump's national security committee. what do you say? you are saying things i don't
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know. >> donald trump did not just slay the dragon, he flat all the dragons, the first president since george washington who jumped into office, no special interest groups, no establishment, no donor class, no wall street and the world is figuring that out. stuart: i said europe is split and divided and a trump presidency has shown the split for what it is. i was astonished they decided not to attend the summit, discussing trump's presidency. >> he understands the mood shaping the world. i am a national security professor, his instincts are better, he undergoes the core of it. what happened in the last 24 hours, the chinese had a phone call with president-elect, in grad school with mit, punched
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out a statement, the americans better understand they have something to live up to and there is a very different reaction. i look at the two press releases between the russian president and his statement about what the phone call was, the russian president starts with we are looking forward to a period of mutual respect but mutual respect, what does it tell you? president obama has treated vladimir putin with respect, talking about russia as a regional power and in private they are very conciliatory. trump goes the other direction, public respect -- private tough. stuart: they held the conversation on the phone. now we find russia has resumed big time bombing in parts of syria. what do you make of that? do you think in that phone call it is possible mister trump said we respect you? what are you going to do about isis?
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>> there is one president at a time. president trump meeting with president obama -- stuart: that is aleppo, drone video, nothing left of that. >> there won't be two stones in aleppo. >> does donald trump approve of this? >> he is not the president of the united states, he's not going to get in front of a speech, i don't know. i assume they talk about how together we worked against terrorists. stuart: that whole area, america and russia, very much in the news, a phone call, team up against isis, a new relationship, that is different. >> the united states in world war ii, dealing with allies, that we may not otherwise approve of and get something
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done. trump signal to the residency respect them, and to see radical islam. stuart: one week. stuart: stay there for a second. harry reid will take to the senate floor to attack steve bannon, president-elect's newly imported chief strategist, the allegation is steve bannon is associated with if not himself a white supremacist and democrat lining up to attack him. >> there is criticism of steve bannon, he is a public figure, and the worst person imaginable is harry reid, he has no
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credibility on any issues, and mitt romney for example doesn't pay taxes and this is the exact argument, in the first place people are sick and tired of being called racist, sick and tired of being called sexist, islamohphobic because they want to put america first and a lot of categories. that falls flat and democrats, time will be better spent seeing how they work with a trump administration. >> leading the charge against -- that is the old guard, new people coming into the democrat party but keith ellison for example running hard to lead the democrat party, i find that astonishing, the old guard criticizing bannon and keith
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ellison has a history of his own. >> keith ellison is clear the democratic party looking at the last year this election, presidential election, thinking they need to go further to the left and when you look at what's nancy pelosi and harry reid are doing they are repeating the same argument in 2010, the same argument but lost them the senate in 2014, if they wanted to win another election this is not the way to go. political correctness is out the door and they should be focusing on how they can work with republicans, not being the party of no as harry reid was accused of. stuart: it will be overshadowed by the announcements we expect from trump tower later today. thank you very much as always. antirump protesters targeting robert jeffers's church vowing to pick it every sunday. he will respond to those
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protests on this program next. it was too cloudy in new york. you probably saw that supermoon last night depending where you were. hope you got a good look at it. biggest supermoon in 70 years are most. next chance, 2034. hope you saw that tonight. we will be back in a moment. 32 years at this place and now i've got 9 days left before retirement. we've been planning for this for a long time and we'll keep evolving things. so don't worry. knowing you is how edward jones makes sense of investing.
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stuart: hold on. that is jimi hendrix. i said on this show our viewers don't think much of jimi hendrix. you took offense to that. from bob, i'm a 7-year-old vietnam vet, i am a jimi hendrix
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fan. from phyllis, we are down with jimi hendrix, the greatest guitarist who ever walked the earth. wrong, that would be eric clapton but i stand corrected. we will play a lot of jimi hendrix. back to money. the dow industrials down 32 points, record high yesterday up 30 points from that high, evenly split, one of the losers on the dow 30. robert jeffers is on the program frequently, first baptist church, receiving threats because of his support for donald trump. watch this. >> this church right here is a muslim mecca of the hate that lives inside of dallas. stuart: his church, mister jeffers's church is being called
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an official hate organization was the protests are bound to come back every sunday and picket at the church. robert is with us this morning was what do you say to people like that young man who say you are a haven of hate? >> i would say this is the hypocrisy of liberalism. those who cry for tolerance are usually the most intolerant when it cams with beliefs they disagree with which we are not a hateful church at all. my wife and i have many friends who are gay. we welcome lgbt people to attend our church but just because we hold the position of judeo christianity for thousands of years that marriage should be between a man and a woman just because we hold that position suddenly we become haters, that is rank hypocrisy. stuart: strange use of the word hate if you support this, does it mean that you hate that. i would say , but i think that is the problem you are facing.
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>> it is and it is ironic people are so upset about donald trump becoming president. donald trump is the only republican nominee who has ever acknowledged the lgbt community in his acceptance speech. not sure why they are so upset. stuart: jimi hendrix. >> i am an accordion player. they don't mix together too well but i tolerate jimi hendrix. i'm very tolerant of those who like him. stuart: you are a hater. if you don't have effusive praise for jimi hendrix there is something wrong with you. >> come and protest this sunday. stuart: this may sound like an off-the-wall question but do you sing vigorously onward christian soldiers in your church? >> as we do, we certainly do.
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stuart: that would mark you as a hater, wouldn't it? >> no. that is simply what the bible says, the kingdom of god is on a march and we are not seeing these protesters, it reminds me of a fully striking mount everest saying i will topple you over. these protesters are not opposing me or the church, they are protesting the eternal word of god and they are not going to be successful in toppling the word of god. stuart: pretty good out q if i ever heard one. we will leave it right there. thank you for joining us, always appreciate it. an update for you. remember the huge sinkhole before it happens, the sinkhole in japan? it swallowed up a busy intersection. that was then, this is now. the whole thing repaired
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completely. it took the japanese just two days to fill it in, replace the pipes, put down some new tarmac, they are driving over the top of it, two days they did it. ashley: that was in london in 18 months. stuart: china warning donald trump of an possible trade were threatening iphones. we will be back. >> what china has done to our country is the biggest theft, the greatest theft in the history of the world. the one i don't want to hear, g. give me china. you ever see china? china. china. china. china. china. we don't win anymore. when was the last time we won? we lose to china. your insurance company
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stuart: there were some stocks that really popped from one week ago when donald trump won the election. start with jpmorgan, a 1-week chart, pretty handsome chart went almost straight up, new highs established in the past week. lockheed martin defense contractor, pretty good chart, as of today. close to the highs. and in the nation, straight up, they can do well, the demise of the repeal and replacement of obamacare. the media continues to slam trump's supporters, they were enablers. look at this headline, shaming women, a popular online magazine shared on facebook, quote, white women voted in 2016 belize because they believe white men either saviors. first sentence in the article, white women have a history of
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betraying their assistance, the 2016 election is no exception. 53% of white women in america voted for donald trump. kt mcfarland, we held her over. we want to hear what she is going to say? >> absolute baloney. i am of the generation of women where i was the only one in the room as a national security professional where most of the men in the room with listen to a woman but i briefed donald trump. he respects women, he listened to me, deferred to me. all this stuff that, a betrayal of the sisterhood, to support somebody like donald trump is foolish and baloney and the real betrayal of the sisterhood is a resident who doesn't deliver an economic environment that allows women to succeed. a president who doesn't deliver. stuart: you have been in the
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room with him. liz: intolerant, toe the line, antifeminist thinking. to change hearts and minds you don't talk like this, there's no sisterhood because of our gender. that is the definition of being antifeminist. hearts and minds by getting people to your point of view, make a case, treat them like adults, and understand the consequences of your beliefs and their beliefs and talk it out. this is why the left is failing miserably with women across the country. i'm sick and tired of it personally because i hear it all the time. this kind of behavior. stuart: you should be discussing the issues. the country's future. >> in lockstep. >> that is -- >> how about we are smart enough to figure it out. stuart: false consciousness. >> whatever their definition of consciousness is.
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we get a poison words are not good in this debate. i wish everybody would use their inside voice, listen to people like kt and you gentlemen and understand we have a different points of you, democracy, we hat it out in the marking -- marketplace. >> that is what it isll about. liz: things like that are gone. stuart: we have to say good morning, she is on her way. you know stuff you can't tell us that this point? thanks very much. you are allowed. donald trump vows to deport millions of criminal illegal immigrants. however chicago, los angeles and other cities say they are not going to hell. lawmakers in ukraine brawling in parliament, punching a colleague in the middle of a speech.
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the man who was punched accused of colluding with the president. there we go. more varney in a moment. ♪ guyhey nicole, happening here? this is my new alert system for whenever anything happens in the market.
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stuart: one week after the election, one hour into the trading session, down 40 points from the dow industrials but we are at 18-8. tech names way down after the election bouncing back a little today. apple, amazon, microsoft, google, facebook, all of them up 2% or better, fractional game for apple.
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the price of oil not affecting the market today but struggled back to $45 a barrel. news on warren buffett's berkshire hathaway buying shares of those three airlines, american, united, delta. thought you hated airlines. stuart: ashley: wouldn't touch them with a 10 foot pole for many years. but his tune has changed. it is interesting, he says the airlines are improving, not sure if he made these pics, they tended to buy into stocks warren buffett has been critical of notably technology. berkshire hathaway getting into airlines. another sign of the change of mind. interesting that delta is moving a little lower. stuart: warren buffett at best, kind of like that. donald trump will deport or try to, millions of criminal illegal immigrants living in this country. big sanctuary cities, los
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angeles, chicago, said they would not help in los angeles too. watch this. >> this is a monumental task especially in california, you have probably 500,000 undocumented folks in the city alone and no intention of making data priority. this is a population we police successfully by building partnerships, not by carting them because of their immigration status. stuart: come in, larry from california. you heard that and what did you make of it? >> he doesn't know what donald trump's plan is. it is reasonable to find out what it is before you criticize it and based on what donald trump said on 60 minutes he is not talking about targeting people because of their immigration status but violent criminal illegal aliens and
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making sure that is turned over for deportation so no idea why this reaction, roundup people, show me your paper stuff. stuart: none of the authorities, new york, chicago or la, they don't make the distinction between undocumented immigrants and illegals who have come into the felony and that is a huge distinction. donald trump wants to deport 3 million people who come to the country illegally and committed a felony but women too. >> violent criminal illegal aliens under deportation orders still in the country running around, and get rid of them. and i understand the idea, you don't want law enforcement going after people, not coming close. stuart: president obama is in
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greece at the moment answering questions about donald trump. the president said we need to stand up to extreme nationalism. >> i don't feel responsible for what the president-elect says or does, but i feel as president of the united states to have a good transition and i present to him and the american people my best thinking, my best ideas how to move the country forward. stuart: didn't like extreme nationalism, larry, respond please. >> this is a president who at one time basically bragged about how many illegal aliens he deported. let's understand trump's victory come he got less of the white vote as a percentage than mitt romney did, got more black vote as a percentage than mitt romney did, more of the hispanic vote than mitt romney did, of the 700 counties that voted twice for
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obama in 2008 and 12, one third flipped over to donald trump so at what point do they contrast this racism and nationalism that president obama thinks they have? stuart: how do you do it? i hear orange county went democrat. how do you do it? you have been living there all your life just about. how do you do it? >> this is not ronald reagan's california, this is not richard nixon's california, there is not a single republican elected and california statewide because of the large number of hispanics who live here and the push to make sure a bunch of people can vote. it is a state as i said before, we are the bellwether, so goes the rest of the country, we have to deal about illegal immigration. stuart: larry elder, always a good guest on this program, see
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you again soon. it is happening right now. mike pence making the speaking with donald trump at trump tower, a couple hundred yards fr us, likely discussing who to appoint to mister trump's cabinet. we have some possibilities for you. secretary of state rudy giuliani, former mayor of new york city, and laura ingram, well known to fox viewers, steve mnuchin, campaign finance minister, possible treasury secretary, a frequent guest on this program, america's ambassador to the united nations, doctor ben carson, secretary of education or health and human services. anthony scaramucci is a member of the trump transition team. this big meeting, they are assembling right now at 11:00 this morning. >> there is going to be a meeting, got to be careful, as much as i love you, got to stay true to the administration. stuart: they are moving quickly to establish who is in the cabinet. >> the american people need to
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know he is a tireless worker, he wants to assemble a team he knows will have the best interests of the american people and the other thing he is working on is a silo busting team like you find sometimes in washington, the stovepipe. everyone working in their own little universe, he wants his team to work universally together, wanting to have a lot of harmony. the people mentioned probably have those characteristics. stuart: one of trump's major campaign promises was to cut tax rates for individuals, cut them dramatically. one of his advisers, steve moore says that is not the first priority. role that tape and listen to steve moore. >> we want to cut individual tax rates, no question but where you get the immediate juice in the economy is cut the business taxes and that will help the middle class because you will bring more jobs to the united states, you will see the flow of
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businesses and capital back here, studied by my friend at the american enterprise institute, the biggest beneficiaries, the biggest beneficiaries of the business tax cut our workers because they have more capital to work with, they have raises and more jobs. stuart: not sure of the economics of that, if it is the biggest boost but people voted for trump because they want the individual tax cut and want it now. >> go to the donald trump website and see if these things are integrated. remember the obama administration wanted to move corporate tax rates down and leave individual rates low but when you find out you have an llc they are harmonious with each other. stuart: are we going to get a tax reform bill that includes tax cuts for individuals and tax cuts for businesses? >> i really believe so because that is on the website. here is the beauty of mister trump. he said this consistently, on 60
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minutes, he is a negotiator, these are starting points in the negotiation. he has 100 to 250 gauges to move his agenda, look at past presidential administrations, the biggest bang for the buck when you do it that way, we are putting a transition team together or executive team together that has status quo structures and preside is because you don't want a rejection of the administration, right? got to make sure you have both in their to execute mister trump's plan. this is something i'm focused on as a member of the transition team. stuart: you are about to leave the studio, walk a few hundred yards of the road and i want you to pound the table, our viewers want an individual tax rate cut now. >> can you give me your social security number?
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stuart: right after the show. thank you very much. stay with me. look at apple's performance since last week when trump won the election, that is the one week chart, mostly down the come on in, can you explain why apple is mostly down? nicole: about 106 and change, tuesday close at $111 so no doubt it is still to the downside despite small gains. we are seeing apple comes under pressure for the relationship with china and president-elect trump's relationship with china, maybe 45%. might seated for tat, there has been some talk that we might see everything from these terrorists, chinese might stop buying us, they could epn with 1 million workers over there working, they could help production and a beef that goes back from tim cook to donald trump and don't let these factor
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in and big picture, all under pressure, worries about the hb one visa as well. stuart: back a little bit today, thank you very much. the elites if i can call them that, and the elites will worry about ronald reagan in the presidency. a former reagan white house official on that shortly. >> mister gorbachev, tear down this wall. i don't want to live with the uncertainties of hep c. or wonder whether i should seek treatment. i am ready. because today there's harvoni.
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ashley: "varney and company" start at 95 eastern every day. steve cortez on trump's tax cuts. >> we don't have to wait long because we control both houses of congress. i agree with him we get the most immediate bang for the buck from cutting corporate taxes but i don't want your viewers to worry, are we back to cronyism? only going to take care of the bid shots and other little people, the answer is it is not binary, we can do both, we control both houses of congress, we have the white house, in terms of sequence, the trump administration chooses to first cut corporate rates but right behind that we will cut individual rates, worry not.
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in the way tampa bay bucs receiver mike evans who sat out the national anthem to protect donald trump's election was sunday. is he apologizing? ashley: he is. let me read a long statement. i want to start by apologizing to all the us military members, their families who are offended by my actions on sunday. carrying on, never my intention as i have tremendous respect for the men and women who serve our country. i sat out of frustration for many issues that exist in our society. that said i will not sit again through the national anthem. i will try to communicate. stuart: fine with me. he apologized, fine with me. our next guest, muslim immigrant in the spotlight after saying she voted for donald trump. she had seen americans like herself struggling to make ends meat, she voted for trump. welcome to the program, good to see you. >> i stood for the national
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anthem on sunday morning in milwaukee and did not join the protests on the street two nights before. stuart: i ask how you are doing for good reason because i would imagine raising your head like this to say i voted for trump and here is why, you are a muslim. i imagine the world came down on you. did it? >> it is remarkable i am being called brave in some circles by doing something very simple which is stating who i voted for and why. that is where we have come as a country and as a world. as a liberal, the left has sold its soul to this idea of political correctness and we have silenced debate. i'm getting all sorts of hate and getting called all the names trump's voters were called before the election.
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what encourages me is hundreds of people who are writing who are on both sides of the aisle saying yes, this is our constitutional right to vote for whom we want and stand by the president whether we like him or not and come together as a country. stuart: if you go to a mosque, don't know your religious practices but if you go to a mosque are you welcomed? what is the reaction of other muslims to what you have done? >> i typically cover myself, have to accept the segregated space, the back of the mosque, separate balcony or the basement. if i stay quiet, usually it is okay but if i dare to protest something being said at the mosque or dare to suggest these ideas about shutting down debate on islamic extremism are inappropriate not that welcome. stuart: have you ever said
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anything during the service or worship at the mosque? have you ever said something? >> in my hometown of morgantown, west virginia my family and i protested the lack of women's rights and intolerance being preached from our mosques and the men surrounded me and they said go upstairs, shut up, you are shaming us, writing about these issues, they put me on trial at my mosque to be banned. this is something i call the honor brigade. it is a network of people inside our little communities and our global. you know them well from your native country. they exist on college campuses there and here and want to shut us out to talk about anything related to islam and eight years later in the obama administration we still don't talk about the islamic state and that is in part why i decided to cast my vote for donald trump.
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stuart: we respect and admire you and think you are a great american. that is what we think. thank you so much for being on the program. >> i encourage everyone to be great americans by coming to the middle. stuart: thanks very much, we will see you again. we will be back. when a moment turns romantic, why pause to take a pill? or stop to find a bathroom? cialis for daily use is approved to treat both erectile dysfunction and the urinary symptoms of bph, like needing to go frequently, day or night. tell your doctor about all your medical conditions and medicines, and ask if your heart is healthy enough for sex. do not take cialis if you take nitrates for chest pain, or adempas for pulmonary hypertension, as it may cause an unsafe drop in blood pressure. do not drink alcohol in excess. side effects may include headache, upset stomach,
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ashley: breaking news from ford. >> foxbusiness has learned. the ceo of ford will say we are going to mexico. and a 35% vehicles made in mexico and shaped back in the us and this move to move small car productions in mexico will not cost us jobs. they will go ahead with that plan. and had some contact with trump. this is the only way small car production can be profitable so they will go ahead with a plan. the keynote speech here at the auto show.
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we expect to get questions from reporters, live with neil cavuto later today. ashley: interesting stuff. ashley: ford said will go ahead with plans to move assembly of small car assembly to mexico. ford ceo mark field saying it will cost the us jobs but it is interesting to see how donald trump reacts to that. this is lieutenant colonel allen west in the last hour, mayors of something to where he cities plan to defied donald trump. >> the united states of america is a sovereign nation that is a constitutional republic based on the rule of law and based on us having borders that have to be secure but what i see happening here are individuals who say defied the rule of law, the constitution, it
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harkens back to remembering when brown versus board of education was passed and you have leaders who said they would deify from the supreme court. there was a republican named dwight eisenhower who federalized the national guard to make sure young black men or women have opportunities for education. when i look at what these gentlemen are doing they will put their own political ideology above the rule of law in the united states of america, that comes with consequences and challenging the president to say we will undermine the constitution which i think is not a good high ground position. stuart: stuart: if you are an illegal person in the country, undocumented and you commit a felony, these mayors in chicago or new york say that is okay, you can stay. are they really saying that? i think that is what they are
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saying. >> exactly right. that shows they are willing to put the safety and security of the american people beneath that.
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stuart: the democrats old guard is launching an all-out attack on the new president's new chief strategist. senator harry reid and speaker pelosi are denouncing steve bannon in the harshest of terms. they're focusing on him. they're calling him a white sue prem system. they are rallying the divided democrats. our purpose here is not to defend mr. bannon. he can do that himself. it is to point out ther. >> tactic and need for democrats to circle the wagons and frankly stop the rot. senator harry reid will take to the floor to denounce the alt-right movement which mr. bannon is a part.
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mr. reid on the senate floor lied about the mitt romney and taxes. it is harry reid supports keith ellison to lead the democrat party. congressman ellison has made anti-semitic remarks. they tag the trump administration as racist. they are down to the coastal elite and minority in the inner cities. got to shore up the base. it is distraction. the democrats are bitterly divided pulled and every which way, find a target and attack and hope they bring back the faithful. stand by new top job staffing announcement coming from trump tower any minute and harry reid attacks his enemies just as retires. the third hour of "varney & company" is about to begin. ♪ stuart: we'll get to senator reid and donald trump in a
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moment but first your money. we're down 38 points on the dow industrials but we are at 18,830. they finished higher for six days in a row. down a fraction now. how about the price of oil? i think we made it back to $45 a barrel. yes, we have. solid gain today. that is up 4%. now look at those big-name technology companies, they are coming back just a little but they have been down a long, long way. apple, amazon, microsoft, alphabet, facebook, all of them up this morning after a huge decline in the past week. warren buffett's berkshire hathaway buying shares of three airlines, american, delta and united. buffett is also cutting his walmart stake. so okay, he is buying into the airlines, emac but dropping out of walmart. what is that about? liz: the play for the airlines they are basically charging feels for everything that was previously free. and also warren buffett has made
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$280 million since they first disclosed stake in the airlines sent 30. he is adding to southwest. that is a return of 21 percent. he is cutting walmart. he told investors, walmart is getting hammered by amazon. so they basically cut it down to 1/5 of berkshire hathaway, the stake in walmart, down to one billion dollars. that is what bh owns now. >> heading in that direction for a long time. tough for walmart. speaks to power of amazon. >> amazon astonishes me and amount of business they will do this holiday season is astonishing. >> and getting into. stuart: all kinds of business. my take editorial at the top of the show, the democrats attacking steve bannon. look who is back with us. he is i will. >>ing. he always does. that is charles hurt, everyone, "washington times" political columnist. what do you make of harry reid railing against steve bannon? is there any justification for
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saying the man is a white supremacist and anti-semite or all rest of it? >> no. it is preposterous. anybody that knows steve bannon or even look as the at website he has been responsible for growing would realize, there is a lot of tough stuff on there, this is absurd. but the thing that is really shocking to me about all this is that you have harry reid, the minority leader, former majority leader of the united states senate and the ways that he has used that platform to attack people, to attack private citizens, to attack people, who, good people like mitt romney in the most unseemly ways as you mentioned, lying about his taxes, it is, we never seen anything like this. i think that just his departure from the senate, let alone from one of the most powerful leadership positions in this
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country, that alone will be a huge stride towards making america great again. stuart: that is putting it mildly on your part. well-done, charles. well-done, restrain yourself, lad. president obama seemed to me in his press conference yesterday was defending his legacy. you're laughing. why are you laughing? >> because that was the craziest, that was the craziest presidential press conference i ever seen. he was spiking the ball after having lost the game of course but the real thing was, he was just doing everything he could to make sure everybody realized, hey this was embarrassing loss, it wasn't my fault. it was hillary clinton's fault. she should have worked harder. she should have gone to more places. do y remember when i beat her in iowa? i went to every legion hall in the state. i went to every county. i beat her like a drum. i beat her worse than donald trump t was hilarious. and it was completely delusional. stuart: charles, you have preempted the sound bite which we were going to run.
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you jumped right in there. i will run it any way. roll tape. >> as i told my staff, we should be very proud that their work has already ensured when we turn over the keys the car's in pretty good shape. we are indill puttably stronger -- indisputably todaying stronger position than when we came in eight years ago. stuart: charles, have at it. >> he loves himself. fewer people on public stage, even donald trump love himself as much as president obama but what is interesting here, you know, in public he has this good game going. talking a big game how he is doing everything he can to respect the election and to help donald trump smoothly move into the white house but, at the same time we're getting all these leaks out of the white house, denigrating both donald trump and his advisors. and these leaks are not coming from the trump people. these leaks are coming from the white house.
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they may be pretending to do all they can to help but you know, hidden hand is doing everything they can to undermine him. stuart: charles, would you stay there for a moment, please? got more for you in just a moment. prominent figures possibly filling high-level positions in a future trump administration. for example, rudy giuliani, secretary of state, laura ingraham, white house press secretary. this is all maybes. steve mnuchin, treasury. ric grenell, america's ambassador to the united nations, dr. ben carson, secretary of education, health or human services. have you heard anymore? liz: john bolton, secretary of state this is fluid situation. we're hearing jeff sessions as possibly attorney general. general mike flynn possibly running the nsa. i will say -- stuart: jeff sessions, is attorney general or defense? >> talked about as ag or defense. stuart: or defense. there is a huge difference there
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>> you know to your guest's point the leaks are not coming from donald trump. cnn is saying that trump basically behind the scenes, a knife fight going on over these cabinet picks. no one else is reporting that. i'm not sure where the leaks are coming. there is always going to be duking it out over who gets what spot but ratchet up to the point of a knife fight. stuart: charles hurt, seems to be a very big day. there is huge meeting, just been convened at trump tower. everybody who is anybody is there that, who will fill these positions. they're moving very quickly it seems to me. >> yeah. they really are. and i think that is to their credit especially considering, even people in the trump camp had been convinced by the overwhelming media rejection of any chances that trump had to win, even some of his most loyal people were sort of the beginning to buy into that and believe that they weren't going to win.
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election night caught even some of them flat-footed. so they are having to play a pretty big makeup game now. so it is not surprising to me that, you know, tensions are going to get high in a situation like this. stuart: we have our eyes on trump tower at moment. that is live shot there. who will be announced? who will do the announcing? will anybody speak to the public? we shall see. charles hurt, thank you very much indeed, sir. >> thank you, stu. stuart: we'll keep our eye on trump tower for any announcement. the whole of new york city has to keep eye on trump tower. they have disrupted traffic, let, right and center. wait until he is president and starts living there. that will be something. i have video. a brawl between ukrainian officials during a parliamently meeting. one lawmaker accused the other of working with the kremlin, ouch. called for him to be jailed. just imagine if this happened on capitol hill. i don't believe it has ever come to that.
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ouch. linda chavez, the lady in the picture you see on your screen standing next to ronald reagan. trump often been compared to mr. reagan. we'll talk to her about those comparisons. i want to get back to those violent anti-trump protests. we'll deal with them later this hour. first i want you to listen to air force veteran thaddeus alexander. >> you saw all this destruction just because your candidate lost. see that is the problem with this country. you can't always get your way. everybody wants to be politically correct. quit being crybabies. you didn't earn anything. none of you put on a uniform but you're quick to disrespect the flag. not want to say the pledge of allegiance. not want to recognize the bible but you want everything. you didn't fight for anything but you want it. it was always just a hobby
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something he did for fun until the day it became something much more. and that is why you invest. the best returns aren't just measured in dollars.
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>> not my intention to do away with government. rather to make it work. work with us to stand by our side, not ride on our back. government can and must provide opportunity and not smother it. foster productivity, not stifle it. stuart: music to my ears then. music to my ears now. that was the 1981 inauguration speech from the great ronald reagan. look who is with us, linda chavez, former reagan white house official. great to see you again. >> great to be with you, stuart. stuart: is there a parallel between the way people responded to the election of ronald reagan, i think they called him a cowboy and ronald ray-gun and all that kind of thing and way they respond to donald trump now. is there a direct parallel, do you think? >> people now look back on the reagan years and look as if this
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was a time everybody embraced the reagan agenda. they didn't. in fact there were people in certain voting districts who said they didn't know anybody who voted for reagan so he couldn't have possibly won the election. that was mary mccarthy's famous line about nixon, it was equally true of reagan and reagan himself was very affable. he was able to win people over but much of the animus was directed at some of the people around him, people like ed meese. so they became the focus of a lot of the hatred. we may see that happen in this administration. stuart: looks like they're going after steve bannon for all kinds of reasons. taking it out on him. focusing their attention on him. but as i recall, and i was around in the reagan revolution, mr. reagan who put me into america's middle class. he fulfilled the dream for me. the first thing he did was to cut taxes. i remember him signing it at his ranch in california, right there, he signed it, the first
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thing he did. do you think that donald trump should do exactly the same thing, cut taxes, now, do it now? >> well, i think that is exactly right because there are a lot of people who are unhappy with the election. i wasn't a trump supporter. i will tell you like his tax plan. if those tax cuts go through, you will see a real bump in the economy and we've been looking at very, very sluggish growth. we've had the most, the slowest recovery that we've had in any major coming out of any major recession or depression so if he is able to cut taxes, if corporations and small businesses are able to start hiring again, cut taxes, and cut regulations, i think that people will in fact accept donald trump and some people will embrace him. stuart: is there any job in the trump administration you might like? >> i don't think they will be calling me, stuart. stuart: i know, but would you like anything?
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>> well, i certainly wouldn't want to go through senate confirmmation. i have never been confirmed by the senate, even president reagan, who appointed me when i was still a democrat, i still couldn't get through senate confirmation. you know, i'm looking at what president-elect trump will do on immigration issue. i think he has a chance to reach out. i think he has a chance to say is i'm going to eliminate the executive orders, but i'm going to support the d.r.e.a.m.er act. if he did that one thing, i think it would alleviate a lot of fears. by the way, kids who came here, i know people who came here at two, and three years of age, they're doing well now. we should want those people to stay. we should not want to send them out of the united states. stuart: that is not out of the question, is it? >> no, it is not. stuart: if you're here he will legally, undocumented, commit a felony, you're out. that may be three million people. but i don't believe he said anything like that about the people you called d.r.e.a.m.ors,
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sons and daughters of people who came here illegally, and they're stuck. i don't think he said anything about them. >> he said he wants to reverse the executive orders and i'm okay with that, because i think president obama greatly exceeded his power. he didn't have the power to simply issue an executive memorandum and give peoplehe right to be here and to work but he should couple that with saying i'm going to support the d.r.e.a.m. act. that was a republican initiative. it was originally proposed by orrin hatch. so i think if he would just make a few of these little, i don't know, olive branches, throw a few olive branches out there, i think you would see a turnaround right away. stuart: you might well be surprised. linda chavez as always, thank you very much for being with us. we appreciate it. >> thank you. stuart: sure thing. i got breaking news for you. it is aboutben carson. what do you got. >> withdrew his name. turned down a position in the trump cabinet.
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will not be named as, according to fox news health and human services, secretary of education. stuart: this is just breaking news. we don't know the reason behind this. we don't know rationale for him withdrawing his name from cabinet position. >> that's correct. stuart: that is what he has done according to fox news. i find that intriguing. >> surprising. stuart: i thought educational, health and human services. we'll see. check the health insurers. obamacare architect jonathan gruber, you remember him? he is the guy who said americans were quote, too stupid to understand obamacare. well he joined maria this morning. they had a heated debate about obamacare this morning. we'll play you some of it. here is what he had to say about premiums. >> maria, i'm afraid you're wrong on that. start with businesses. 150 million americans get insurance through their employer. cost of employer iance today is $3100 lower than it would have been, that was projected before obamacare. individual insurance, which is
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paid by about 7 million people is exactly where it would have been absent obamacare. the press coverage has been completely misleading on this. obama care has saved people money. ♪ [vo] is it a force of nature? or a sales event? the season of audi sales event is here. audi will cover your first month's lease payment on select models during the season of audi sales event.
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on a perfect car, then smash it into a tree. your insurance company raises your rates. maybe you should've done more research on them. for drivers with accident forgiveness,
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liberty mutual won't raise your rates due to your first accident. and if you do have an accident, our claims centers are available to assist you 24/7. call for a free quote today. liberty stands with you™. liberty mutual insurance. stuart: repeating news we brought you a few moments ago, dr. ben carson does not wish to
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be considered for any job in president-elect trump's cabinet. he is out. now, one of the architects of obamacare, jonathan gruber, he is mit professor who said they passed the bill because of stupidity of americans. well, he appeared on "mornings with maria" earlier today on fbn. just listen to it. roll it. >> employer insurance has been, was falling dramatically before obamacare. since obamacare came in, it is flat. it hasn't fallen and premiums have gone down. >> premiums are going up in 17 on average 25%. we know that. >> not from employers, maria. you keep mixing it up. employers. most of your listeners have employer sponsored insurance. their premiums are not going up 22%. >> they don't have any choice because all these insurance companies have pulled out. united health. aetna. >> maria, once again, let's please they have not pulled out of employer insurance.
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you're mixing it up. employer insurance what most listeners have, 150 million people, no insurers are leaving. premiums growing historically slow rates. premiums are $3100 below what we expected. come to the individual exchanges, that affects at most 7 million people. >> right. >> 1/20th at large. there you're right, insurers left. premiums are up. in that market premiums are up to where they would have been before the law because, of over the last three years they have been down 20%. you're not talking about that. stuart: it went on from there. >> talking to, he was talking about employer based insurance programs as opposed to the individual. he says the individual, yes, there has been a problem you but on the employer side, premiums have come down. i think he is living in a dream world. he can not, will never admit that obamacare is collapsing in on itself. stuart: employer premiums have not come down. they have gone up less than he expected. that is what he says.
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>> his made-up projection, right? stuart: his made-up projection. hillary clinton may not be off the hook yet. some suggest ad presidential pardon, remember that? congressman jason chaffetz said the mess created at state still needs to be cleaned up. here is jason chaffetz. >> she created one of the biggest messes in the history of the state department and it will need cleaning up. so we are owed a lot of documenttation which will help us in that process and i hope that gets loosened up, sooner rather than later. g new cars.
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>> congratulations on being elected president of the united states of america. you are a great friend of israel. over the years you've expressed your support consistently, and i deeply appreciate it. i look forward to working with you to advance security, prosperity and peace. stuart: well, you know, you have to say that was a heartfelt congratulations from mr. netanyahu to donald trump, congratulating his win in the election. who's with us now? david rubin is back, the former mayor of shiloh in israel, and he joins us this morning. there is a divide, isn't there, between jewish people in america and israelis. why this intense divide?
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>> well, there's always been that problem, stuart. it has to do with the fact that israelis are concerned about israel. they're specifically concerned about israel whereas -- and it's a life and death matter, you know? we're confronted with islam aric terrorism all the time -- islamic terrorism all the time. stuart: were israelis all in favor of donald trump? he was the candidate they wanted to win. >> a very clear majority. stuart: so why did 68% of jewish people in america vote for hillary clinton? is it just because israel is not a priority? >> that's right. the purity of a -- priority of a majority of american jews, putting aside the orthodox jews to tend to vote republican, their priority is mostly liberal social issues. stuart: why? >> because that is, that is the way they are. the american jewish community is disconnected from its biblical heritage, whereas the israeli community is much more connected.
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and that's what it comes down to. stuart: you've got a frown on your face as if you really don't approve -- >> well, it's disturbing. it's disturbing for one who does feel very connected to his roots and the fact that the jewish people are the people who received the ten commandmentsfrm not ashamed to say that. i don't think it's something prim ty, i don't think it's -- primitive, i don't think it's, this is something that is in the history of the world. this is the cradle of judeo-christian civilization, and i think that that's something that american jews would do well to read up about. stuart: okay. the democrats are trying to figure out who's going to lead their party in the future. and one of the names that has surfaced is keith ellison. he's a congressman, and he is way out there on the left. you've got that look on your face that says you've got something to say about mr. ellison. speak. >> keith ellison is a muslim,
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he's a convert to islam. and he's, yes, a congressman from minnesota. the problem with keith ellison is that keith ellison's allegiances are more to the islamic civilization than judeo-christian civilization. when he was sworn in, house speaker at that time nancy pelosi allowed him to swear in on the quran which speaks -- the quran is the so-called holy week of islam -- book of islam, which speaks of jihad, calls for jihad against all of what they call the unbelievers which means all jews, all christians, anyone who is not a muslim. that is what, that is what jihad means x. that is the core of the quran. i know there's sometimes islamic spokesmen who you hear on television who will say, well, islam doesn't really mean holy war against the unbelievers. islam means self-reection, spiritual self-reflection inside. well, it's nonsense, kind of
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like indigestion. [laughter] the real meaning of jihad is holy war against all, against the unbelievers, and you can ask any honest muslim, and he will tell you that. stuart: okay. on your screen right now, ladies and gentlemen in the audience, that is governor mike pence, of course, the vice president-elect. i think that's the correct title. just arrived at trump tower. there's a huge meeting going on right there as we speak, and they're really talking about who to appoint for the senior positions in mr. trump's cabinet. this was moments ago. no, that was live. this is just moments ago, actually. but there you have it, governor pence is now in that meeting. we've just heard, literally about 20 minutes ago, that ben carson does not wish to be considered for any cabinet position. we thought he might go to education or health and human services. not so. he's counted himself out. one last question to you,
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mr. rubin, former mayor of shiloh in israel. we have steve wan non, chief strategist -- bannon, chief strategist for mr. trump. the democrats are railing against him. what have you got to say about steve bannon? >> i see absolutely nothing in steve bannon's record that says that he's anti-semitic. i heard from the adl, the anti-defamation league, that they called him anti-semitic. the adl is just a band be of knee-jerk liberals that tries to get its funding by claiming that everyone is anti-semetic. it's absolute nonsense, and i think there's nothing to be concerned about. stuart: with a smile on the face, the man says just a band of knee-jerk liberals. [laughter] >> well, it's what they are. stuart: it's great to see you, david i rubin. come and see us again. >> will do. stuart: now this. congressman jason chaffetz be, chair of the house oversight committee, he says probes into
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hillary clinton are going to continue. listen to this. >> she did create one of the biggest messes in the history of the state department, and it still needs cleaning up. so we are owed a lot of documentation which will help us in that process, and i hope that gets loosened up sooner rather than later. stuart: point man on the investigation of the hillary clinton investigation has been our own judge napolitano. you say what? >> he has plenty of material with which to investigate, but the only investigation that will count is one done by the justice department and president-elect trump -- stuart: why would you say that? >> because he can't prosecute, and the justice department. and she's not running for office anymore. she probably doesn't even care. but the only one that will have teeth in it is one that could lead to a prosecution. there are two still out there. let's assume the e-mail one is dead. it was opened, it was closed, it was opened, it was closed. but there still is the investigation into the clinton foundation which includes her
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husband and the investigation of her potential public corruption while she was secretary of state. those are two different investigations by the j. stuart: but it will be up to the new doj to decide -- >> yes. stuart: and the person who calls that shot is donald trump. >> correct. correct. i'm sure that he will say to his attorney general, let's get rid of this case or go where the evidence takes you. one of those two. stuart: not going to say one or the other. that's a declarative statement, judge. >> the declarative statement is that he will make the decision, and that decision will be far more finish and i'm not critical of congressman chaffetz. his job is to conduct these investigations. but thanks to the constitution, thanks be to god -- [laughter] the legislature can't indict. it can just investigate. stuart: all right. i want to leave time for justice ruth bader ginsburg. she was asked what effect the election has on the supreme court. well, here's the answer. roll tape. >> most immediately, our vacancy will be filled.
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now, that's not true of every president. jimmy carter never had a supreme court vacancy to fill, but there is an existing vacancy, and president trump will fill it. then perhaps congress will do some work. one of the reasons why the court hasn't had as many petitions as usual is that there hasn't been any legislative activity. stuart: i don't see anything really controversial there because -- >> well, what's controversial -- stuart: she says they're going to fill the vacancy. >> what's controversial is that she, on national television, is sharing her personal political views. she who belongs to a nonpolitical branch of the government. the reputation of which is diminished whenever any one of them, a republican, a democrat, a liberal, a conservative, a libertarian if there were any, a progressive, expresses a political opinion. she should keep her political opinions to herself. stuart: but we do all know that
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the supreme court is highly politicized. >> yes. stuart: we know that. >> yes, but we don't need to have it reinforced. the one of the beauties of the court was mystery. just wear the black robe and issue these arcane but brilliant, life-changing decisions. keep your politics to the dinner table conversation. [laughter] now, what do i think? [laughter] i'll tell you who started this, my late friend, justice scalia. the first member of the court to start unveiling the mystery by offering his opinions on everything in front of our cameras. nino to, i'm sorry. stuart: judge, thank you very much, sir. all right, check the big board. it's been kind of a go-nowhere day. we are down 41 points, 18,827, that's where we are one week precisely after the election. how about the price of oil? it was $45 a barrel earlier, it's $45 a barrel now. that's a big gain, look at that, 4.5%. i don't think that's having much
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effect on stocks, but on oil, big deal. look at this? taco bell showing off a new flagship restaurant on the las vegastrip. it's a retail store open all night. if you want a margarita, you got it. [laughter] the restaurant will be serving alcohol, i believe tequila will be a deal right there. china, despite a cordial conversation we are told between trump and china's president, china now warning of a possible trade war. we'll deal with that in a moment while you look at this -- >> what china has done to our country is the biggest theft and the greatest theft in the history of the world. this is the one i didn't want to hear. give me china. give me china. china, do you ever see why that's -- china's phone? we don't win anymore. when was the last time we won? we don't win anymore. we lose to china.
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>> i'm nicole petallides with your fox business brief. the dow is down 43 points, we are off the lows of the day, but the s&p 500 is higher by 6 points, and so is the nasdaq, also gaining. no record for the dow today, but we did see it, obviously, yesterday after six days of gains. president-elect trump came in and won, we're up 5.5% until that time. dow winners and losers, microsoft and chevron among the
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winners, dupont and home depot coming under pressure, home depot did actually see transaction counts and average ticket increases, but it is under pressure today. taking a look also at the banks which have now pulled back, and we know that they've done so well since trump was voted into office, less regulation, gaining over 10% this month for all of them, but today pulling back some. we're watching advanced auto parts, that's been winner. better numbers for theca quarter -- in our investment experience around the world. call us or your advisor... t. rowe price. invest with confidence.
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>> we are going to stand up to china's currency manipulation. i have great relationships with china, but their currency manipulation, what they do to our country is unbelievable. we have a trade balance -- think of this. we have a deficit, trade deficit with china almost $500 billion a year. stuart: well, that was donald trump saying we will -- he will fix america's deficit with china, and china says, well, they'll retaliate9 if tariffs are placed on their goods coming in here. peter morici is with us, economics professor. you've written a lot on china. i think that, actually, we americans have some leverage over china in the forthcoming negotiation. i think we may have the upper hand here. what say you? >> i think you're absolutely right, stuart. they export to us four times as much as we export to them.
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so if we put a tax on chinese goods or the conversion of dollar which is what i advocate and the chinese try to retaliate, they simply are going to hurt us a lot less than they hurt themselves. the next question is what if they dump all those bonds into global markets that they hold, those u.s. treasuries? well, it's very simple, we buy them up. the federal reserve can print dollars and buy them up. and, basically, the chinese will take out of circulation dollars, they'll put in bonds, we'll take the bonds out and put dollars back in. then they won't collect any interest on their holdings, and that'll suit us just fine. stuart: they say be we stick tariffs on their products coming to america, they will buy fewer iphones, boeing planes, corn and soybeans from american farmers. it's the tit for tat threat. you don't think it'll get to that, do you?
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>> i don't think it will, but if it does, china will be impacted four times as hard as the united states. you know, you can't straighten out a mess like this unless you're willing to endure some pain. the important thing to remember is if we imposed large taxes on our imports from china, the chinese economy would be far more damaged, far more handicapped. it would likely destabilize the communist party. and i don't know that that's such a bad thing. [laughter] stuart: right. now, do you think -- a lot of these manufacturing jobs lost in america, they went the china. do you really think they could come back? there's a degree of skepticism about that. >> well, why is it that the chinese can make coffee makers or radiators for cars and americans cannot when we once did? i'm puzzled as to why it's impossible to make things in america, but it's possible to make them in shanghai. i know of no physical law, i took physics in college, that demonstrates that. that's not even an economic problem. that's one of geography.
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there is no particular advantage the chinese have other than an undervalued currency, 25% tariffs, administrative restrictions on our products. you know, one of the best selling products in china are buicks, but we can't sell buicks made in america there. they simply won't let them in. well, you know, there's no reason why buicks should be made in china as opposed to the united states. it's just absurd. stuart: real fast question about cuts in taxes. we have heard that maybe cuts in tax rates for individuals may not be the first priority of donald trump's tax-cutting ideas. first priority will be to cut corporate taxes. what to you say to that? >> well, i don't know that it's a good idea to put one in front of the other. they both need to be done. he has a narrow window to get this done. you know, when a new president comes in, he sort of has a mandate to implement his program. so on immigration, trade, personal income taxes, corporate income taxes and business regulation, he ought to move
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quickly. and it requires different people from different agencies to do that. so there's plenty enough bandwidth to get this done. different committees of congress deal with these things, to the extent that they require legislation. what it really requires is that he puts in the various cabinet positions energetic people who are committed to doing these kinds of things. that's the most important thing, because the president himself cannot do it all. but what the president needs to do is provide a clear and consistent vision of an entrepreneurial america that demands equal access abroad and fair treatment and expect that his cabinet secretaries -- using their own judgment and discretion -- get it done, that that they don't -- of course, they're going to get pushback from the agencies. the agencies are full of liberals. stuart: all right. peter morici, we'll see you again soon. thank you, peter. >> take care. stuart: donald trump wants to deport, says he will deport millions of criminal illegal immigrants. the los angeles police
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department says they're not going to help him do it. we will also get back to the anti-trump protests where the mexican flag was waved prominently on american streets. what do we think about that? but first, you've got to look at and hear this. john lennon's wife, yoko ono, protesting trump's election. be warned, you might not like it. looking for a medicare prescription drug plan
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when filling at any of the more than 8,000 walgreens nationwide. call unitedhealtare today to learn more about your prescription drug options and find the plan that's right for you. ♪ stuart: here we go. news on trump's cabinet picks, what do you have, liz? >> carl icahn is tweeting out that he spoke to donald trump, wilbur ross for commerce secretary, two of the smartest people i know. stuart: tell me more about steve mnuchin, please. >> he started a hollywood movie studio, x-men franchise, avatar avatar -- >> coolest treasury secretary ever. >> goldman sachs investment banker, so was his father. >> hollywood for a conservative? stuart: that's different.
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all right. by the way, we've seen anti-trump protests around the country including high school students, some of them waving mexican flags on america's streets. come on in, mario lopez, the hispanic leadership fund. mario, welcome to the program. it's good to have you on today. thank you. >> thank you for having me on. stuart: i think to wave mexican flags in a street demonstration in the united states is a bad move. you say what? >> well, i mean, generally i agree. look, i think that we're talking about high school kids here, we're talking about protesters who in some cases have been paid, we're talking about people who i think they think it's the cool thing to do in some cases. so i don't, i don't disagree with you. i do think that not everyone who does that is making a political statement about their disloyalty or what their nationality is to the rest of the country. stuart: i just think it's kind of a strategic mistake, if you like. but look --
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>> oh, absolutely. stuart: donald trump wants to deport criminal aliens, he wants to get rid of sanctuary cities. the l.a. police department saying they're not going to help him do any of this. where do you stand on what mr. trump is saying about criminal aliens and sanctuary cities? >> sure. well, there's two parts here. the first part is the police chief is talking about a policy that dates back to 1975 -- 1979, excuse me, that the lapd's had where they're not going to go in and ask people for their immigration status or demand their immigration status based on, you know, minor crimes and that kind of stuff. that's one thing, and i think we can debate that, but it seems not that harmful. the other part where he explicitly said he's not going to cooperate with the federal government on deporting folks who are here illegally and have committed violent acts, and that sort of thing, and i think he really needs to rethink that. stuart: yeah. >> i think if you're talking about someone that's done something that's really bad,
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then, you know, there's just no excuse. stuart: well, what would the opposition do? i mean, if someone comes here illegally, commits a serious felony, what are we supposed to do, open our arms and say you can stay, or do we do what donald trump says, get out of here? i'm for the latter, frankly. i think you are too. >> well, sure. i think most americans are. and so that's why i'm saying that, you know, the lapd, it was the second part of that statement that i think really was a miscalculation and rather unfortunate. but, you know, certainly there are ways to do this to uphold due process and that kind of stuff -- stuart: you've got it. >> -- which are important american principles -- stuart: i'm sorry, i've got a hard break, it's right on me. thanks very much, mario lopez, the hispanic leadership fund. thank you, sir. all right. we'll be back in a moment.
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tooth r. stuart: i think the biggest news that came to us in the last three hours was this --
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>> dr. ben carson. stuart: he did not want and will not take a cabinet position in the new trump administration. we thought he was going to education, health and human services, not so. he does not want -- he has withdrawn from all cabinet positions. how about that? our time's up but, neil, it's yours. neil: thank you, stuart, very, very much. we are following that and what could have led to what seemed to have been a reversal on the part of dr. carson. we're following national campus walkout day. in my day, you just skipped class. they've attached a holiday to it, and the encouragement is to get out of class to protest the election of donald trump. connell mcshane has a lot more on what's going on because it is now country wide, i guess. >> reporter: it's been building up, neil, as you know. some high school kids even involved, but this national walkout is actually set, we've learned, for tomorrow. and from looking at the facebook page that's been set up from

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