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

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help you spend the money you do it. maria: you like that story. >> it's infuriating. maria: our next guest. steve, kat, tony, have a great day. we'll see you tomorrow same time and place. stuart, over to you. stuart: i'll take it, thank you very much indeed. good morning, everyone. with a lot going on and action on all fronts, here is the state of play. two hours from now, two world leaders both reeling from political setbacks. president obama and chancellor angela merkel together in berlin. you'll hear what they have to say. two other world leaders meet in america, donald trump and shinzo abe. a big deal. hillary clinton appears in public and she says it's not been easy for her. she'd rather curl up with r dogs and a good book. jesse jackson calls on president obama to pardon her. draining theswamp.
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no lobbyist, says trump. no earmarks says speaker ryan. mike pence will be draining the swamp from d.c. news from white house north, what i'm calling trump tower, new york city. it's like central casting. who is in, who is out? a parade of political celebrities today. the secret service trying to grasp the challenge. if president trump takes up weekend residents in the center of manhattan. watch out! janet yellen speaks and she's going to say a rate increase could very well come relatively soon. is that vague enough for you? don't worry, we'll watch so you don't have to. "varney & company" is about to begin. ♪ there it is on your left-hand side.
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the center of action, that's trump tower on the right-hand side of your screen, capitol hill. a lot of big names will arrive at trump tower, new york city. i'm calling it a casting call and again, calling it white house north. on the right-hand side of the street, d.c. vice-president elect mike pence will meet with members of congress, including speaker paul ryan. drain the swamp, yes, indeed. the trump transition team announced a five year lobbying ban for all appointees. follow the action, you'll catch it live. president obama in germany with angela amerimerkel. two leaders whose agendas had a rough go. and look who joins us right now. yes, the man of the moment, the man of the hour on foreign policy, see the smile on his face. we'll get to it later. your possible appointment as secretary of state, mr. secretary, we will get to it later.
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and that's a promise, okay? [laughter]. first of all, mr. ambassador, what do you make of president obama and angela merkel meeting today? going through the rough lately. >> well, i think that the european tour in general that president obama is on, obviously, scheduled before our election was intended to be a legacy building operation and it's turned out to be a little bit different in the wake of what happened in the election itself. but his trip to germany essential recalls his trip to germany in 2008 when he made a speech widely hailed as demonstrating, thank god he's not george w. bush and somebody europeans can look towards. the political landscape has changed dramatically and i think that we're in a period now where, there's no doubt barack obama is still fully the president of the united states, it would be a mistake for people to read too much into what he has to say and its
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effect two months from now. i would just caution europeans and particularly european leaders who would still be in office not to look backwards, but to begin to look forwards. stuart: at 5 p.m. eastern time this afternoon, the prime minister of japan goes to trump tower, white house north, here in new york city. he'll meet face-to-face, first time with a foreign leader donald trump. is that going to be a contentious meeting? i presume that trade is going to be upfront there and american forces in okinawa. >> it will not be a contentious meeting. prime minister abe is a very gracious man, i've known him for a long time and first met him when he was deputy cabinet secretary back in 2001. he's had an incredible political career. he's a true friend of the united states. and i think he will be trying to get to know donald trump. this is one of our most important alliances not just
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because it's military based, economic based, this is critical to stability in east asia, very dangerous with north caroli carolina y. north korea and abe refueled his plane on the way to south america is where i think he's going. stuart: is that what it's about? >> i think, that's what i've heard. i don't know i shouldn't say that for sure. stuart: okay. you're one of the names on the list being considered for secretary of state. however, before we get to that, senator rand paul, he's not a fan of yours. here is what he just said, quote, no man is more out of touch with the situation in the to our national security than bolten. the man is a menace. would you like to respond, mr. ambassador? >> yes, i would like to respond, but i'm not going to. stuart: no. [laughter] >> you know, i'm old-fashioned in this regard.
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i don't think with respect to the decisions that president-elect trump is about to make, i don't think we should bargain publicly in front of him. i don't think i should respond praise or criticism. he'll make his decision in his own good time. i don't ever like being a children's pinata, i don't like it now more than any other time. >> my standard, it would be dishonor abable to get into thi at this point. >> and i knew it was touch and go whether you wanted to be here or not. we appreciate it, we really do, john. thank you. >> thank you, stuart, back to trump tower. the president-elect tweeted there will be a lot of candidates coming and going today. who do we expect? >> john bolton is so diplomatic, so perfect. and at trump tower like the macy's day parade next week.
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henry kissinger the ultimate diplomate. nikki haley. the list of the folks, nikki haley, south carolina governor, possible secretary of state candidate, we'll see. and the texas congressman will be here, rick scott, governor of florida, an early trump supporter, an israeli born man from oracle. and jack keane. admiral mike rogers, cyber command, highly rated individual and then ken blackwell former mayor of cincinnati, certainly head of the conservative evangelicals. so, a rundown of folks today. stuart: a lot of talent coming in and going out. >> and then we have hillary clinton, she made her first public appearance, she spoke at a children's defense fund event in washington d.c. watch this.
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>> now, i will admit, coming here tonight wasn't the easiest they think for me. there have been a few times this past week when all i wanted to do is just to curl up with a good book or our dogs and then never leave the house again. stuart: all right, high noon strategist president lisa booth is with us now. i looked at that, and i don't think that hillary clinton is one happy lady, what say you? >> i don't think she is either. it's like getting broken up with on a massive scale. you just want to stay at home and eat ice cream and eat wine. stuart: that's never happened to me. lisa. that's never happened to you. [laughter] >> it's a tough time and heron her campaign staff thought they had it in the bag and the mainstream media thought she had this in the bag so i can only imagine those individuals who are with her on election night when she started seeing the numbers come in, and she recognized that she indeed was not going to be the president of the united states.
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stuart: i have to say, it would be a crushing loss, an absolutely crushing loss in a personal sense and one's heart goes out to someone in that situation frankly. listen to this, jesse jackson says that president obama should pardon hillary clinton. listen to this. >> secretary clinton has not been accused and president obama should follow president ford's example, and a preemptive pardon to secretary clinton. >> wait a minute, i thought she never did anything wrong? i thought that would be ridiculous and for president obama to do that, i think going out in that fashion, would send a really negative-- set a negative precedent and policy. president obama had said that he was going to have one of the most transparent presidencies in history and that obviously wasn't the case. we've seen so much scandal within the white house and
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really leaving on a sour note with hillary clinton and the scandals involving her as secretary of state. stuart: do you want to see these investigations continue? without a pardon, they go on for an awfully long time. >> i think there's calculations that incoming elect trump and president trump, could politically hurt him to continue the investigation, but if you're congress, it's important to look into the secretary of state and mishandling of classified information. what you want to do as congress as an investigative body is ensure that future secretary of states don't do something similar. that we're putting in proper safeguards so things like that don't happen again. obviously she had broken government protocol. do we need to make them stricter, stringent guidelines and enforcement to ensure that future secretary of state and cabinet officials don't violate those policies. stuart: it would be nice to
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know what secrets, if any, we actually lost. lisa booth. >> what secrets other people have and other nations have, stuart, yes. stuart: thank you, we'll see you soon. >> thank you, stuart. stuart: headlines from janet yellen, chair of the federal reserve. about a half hour from now, she's going to say a rate increase, an interest rate increase could come relatively soon. we've got a huge increase in the supply of oil reported and this is extraordinary, an even bigger oil discovery in west texas. you will be amazed at how much they just found here in america. we're swimming in the stuff. oil $46 a barrel. wal-mart's going to take a big hit. down about 3% this morning. we're not buying that much at wal-mart anymore. down goes the stock. staples down. it's continuing to work through its turn around plan, not going that well. it's going to be down considerably. actually came back and it was down 4% and it's come back a bit now.
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higher sales at best buy. it's a lot of mobile phones. that stock will go straight up 6% roughly at opening bell. we've got a big show for you today. look what's coming. billionaire investigator wilmer roof. and brexit guy, is europe his fault? what does he think about president obama meeting with angela merkel. jeanine pirro, watch out as she explodes over jesse jackson calling for a pardon of hillary clinton. and drain the swamp and earmarks. watch this.
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>> it's happening this hour right now. vice-president elect mike pence on capitol hill. he meets with house speaker paul ryan. now, ryan says congress is not going back to those earmarks.
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come on in, republican from ohio, congressman. congressman conservatives hated earmarks because they pumped up government spending. can we now assume they're gone, gone for good and not coming back? >> again, stuart, i think the discussion yesterday was started on earmarks, for me, it's really about getting back to regular order and spending and i think that's where the discussion ended up i thought that paul ryan actually stepped up and talked how the american people. people in ohio they don't want-- they want us cutting spending and making sure we're balancing the budget. they want us looking at the direction of our spending and the direction of how we can control our spending. and they don't want us talking about earmarks. stuart: congressman, i put it to you that donald trump as president will be a big spender. he's got a big infrastructure plan. 's he not going to reform medicare or social security, that's a big spending element in our government. he's going to spend a lot of money.
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>> well, look, stuart, i was a businessman for 30 years, i understand the thought process donald trump's going to have, but i also believe president-elect trump's going to come in with people and tell him, look, here is the direction our country is going, here is the path of spending. he's going to be reasonable and look at some of the things. one of the things of' been pushing is a fiscal state of the nation address by our controller general. i think it's a great starting point. everybody should hear the trajectory of our country and spending and we make decisions based on that. infrastructure, we're going to have to look at infrastructure, i'm a believer in the infrastructure program, i had a bill last year supporting infrastructure with a user fee paid for, and which is what i think we need to look at. these are the keys, we have to make sure we're fiscally responsible. stuart: a lot of conservatives want that, fiscal responsibility, draw the line on spending and cut it. you really think we're finally going to do that? will you promise the american people, the people of ohio who you represent, will you promise them you will cut government spending? >> well, for me, and i've been
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doing this now for six years and glad to be on the budget committee, i know i'm looking at budget reforms where it forces us to stay within budget and forces us to come up with a budget that balances and forces us to maintain that. i think it's so important. we've had budget processes for years and we don't follow them. i am going to continue especially for the people of ohio, making sure that we are controlling our spending and getting our fiscal house in order which is what the american people want. at the same time though, we can't forget the american people, especially those in ohio want us to be backing for jobs and making sure we allow the job growth. congressman on videotape promising to draw the line on spending. we'll see about that. thank you very much for joining us, sir, appreciate it. >> thank you, stuart. stuart: new york city's mayor bill deblasio, he stands right outside trump tower and says our immigrant brothers and sisters must be protected. but he left out two key words, criminal and illegal. we'll deal with that in a moment.
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>> how about this? north korea has asked china, hey, stop you people making fat jokes about kim jong un on the internet.
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ashley: he's known as the third. his somewhat wide girth. they called and said cut it out. and apparently so much, the auto rhythm does this. stuart: he is a sensitive. [laughter]. >> bill deblasio met with president-elect trump and spoke about deportation of criminal illegals. deportation. here is deblasio right after the meeting. roll tape. >> that proposal countered and flew in the face of all that was great about new york city. the ultimate city of immigrants. succeeded because it was open for ever generation after generation of immigrants and i reiterate to
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him, that this city and so many cities around the country will do all we can to protect our residents and to make sure the families are not torn apart. stuart: you know, they're just-- they're not speaking correctly here. ashley: you know what they're leaving out? illegal criminals. i get sick and tired people saying, this was a country built by immigrants. they, it was, they went through it legally through ellis island. they built this great country. they didn't come here illegally and they didn't come here and create crimes and try to hide from authorities. the sanctuary cities of which bill deblasio is a big fan of, wants to protect people here who come here illegally and commit crimes, sometimes even murder. brothers and sisters and-- >> what you're doing is protecting illegal criminals, they are blocking the law. stuart: rahm emanuel in
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chicago, bill deblasio around the country, should be asked, point blank, are you going to protect criminals that-- >> apparently so. rahm emanuel says we're going to protect here, -- you are safe here. stuart: that's vice-president elect mike perns's mot pence's motorcade. that would be white house north, trump tower, interviewing candidates for various jobs in the cabinet. so there's a lot going on. you can tell a lot about future policy just by looking at who is walking in and out the door of trump tower and who mike pence is speaking with. ongoing work in progress. futures, we're going up ever so slightly at the opening bell. that's interesting.
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janet yellen is about to say that a rate increase could be coming up. the market is going up. ashley: it's already expected. stuart: house financial committee launching-- there it is, capitol hill, mike pence vice-president elect. lots of action on the political scene today. we've got it for you. we'll be back in just a moment. our special today is the seared ahi tuna,
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and i'll be right back to take your order. thank you. thanks. don't you hate that? when they don't tell you how much something costs? and you have to ask? right. i do. maybe that's why i always make sure to... ..."bring up the costs associated with your services." i know. hey, i'm nothing if not predictable. lemme guess, the salmon? being transparent about our costs. it's a big deal. and it's how edward jones makes sense of investing.
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>> we're almost at that opening bell. literally, just a few seconds away. the market you'll have to contend with. janet yellen and her statement on interest rates this morning. let's see what it does. we're off and running, we are down, not much. 12 points. some stocks up, some stocks down and now we're down 8 points. dead flat i'll call it. how about the s&p 500? where is the indicator. dead flat with a slight upside move and technology, where is that? about as flat as you can get down.07. and crude oil, 46 a barrel and news on that and supply surprise. how about the price of gold, 1225. and the 10-year treasury, the
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yield this morning as of right now is.24%. up go mortgage rates, folks, watch out i could see it coming a mile off. ashley webster is here, larry levin and dr barton all of us together. i'll start with interest rates, janet yellen is going to say in a half hour from now, a rate increase is appropriate relatively soon. that is the key quote. so, it seems that the market is unaffected by that, what do you say, dr? >> i think the market has already priced this in, stuart. that's why the market is not responding. the cme's own tool shows that traders are betting about a 90.6% chance of a rate increase, so, everyone is kind of expecting it and it's long overdue, stuart. stuart: larry levin, is this the start of a series of rate increases, not just from the federal reserve, but yield on the 10-year treasury. i'm saying if there's growth down the road. are we looking at higher and higher interest rates? >> almost no question about it.
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it will start in december. we've seen a touch of it as the 10-year continued to go higher and interest rates are getting higher and obviously costing people more money if they want to refinance or buy a house. we'll see more of that especially as donald trump gets there and the economy will stay flat or improve. as long as it doesn't get worse, interest rates higher. stuart: why isn't the stock market reacting more dramatically? we're down 10 points, that's it. >> i think it's what dr says. it's almost baked in. no question after the election we were going to get a rate hike, hillary clinton or donald trump and i believe that people are starting to hug donald trump and say he has a good chance of making the economy better and a reason we'll see that happening. ashley: there were questions what would donald trump do. the market is giving the answer, they like the pro growth policies and i think the fed will be much more engaged with trump-nommics, it will
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start to grow and keep an eye on inflation and more positively. stuart: interest rates up across the board and stocks dead flat and now stocks have moved a fraction higher. the top banker in the country is up for the top money job in the country. as reported by our own charlie gasparino, they want jamie dimon for treasury, he's the top banker in america, i think, and dimon said he would prefer just an advisory role. would you like jamie dimon in the role. >> two of the major outlets said that dimon doesn't want the job and that he's actively pursuing the job here. i think he would be a good fit. ashley: there's irony, he's
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called hillary clinton the ultimate wall street candidate. don't forget, dimon is anti-regulation, positive for the sector. stuart: donald trump is looking at the best minds in the country and he's offering stability. you go for jamie dimon and you're looking at stability at treasury, larry. >> yeah, i'm sure stability, a smart mind. the other thing i have, he's a banker and we've never been a big fan of bankers down here for a long time. with that being said, lack of regulation is a big thing and matches up to donald trump. so i think it might be a good choice. stuart: individual stocks, start with tesla. shareholders later on today on the tesla and solar city merger. the background here, there's a scathing article on elon musk on the daily smal. tesla got 750 million of taxpayer monies from solar city, from andrew cuomo, governor of new york state.
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do you like tesla with that in the background, dr? >> i did not like them at 250 dollars a share, i do not like them here. i think you short every pop on tesla. i think solar city should be shorted. we are short both of them in our country and this whole area, this whole solar area is going to come under pressure with the new republican controlling both chambers of congress and with the trump administration. the big free easy money for all of these support systems, they're not going away, but they're going to shrink. stuart: tesla is 184. larry, you own and drive a tesla. what say you on this? >> i think that everybody out there should be buying electric cars and shouldn't be relying on oil anymore. that's a different situation. stuart, solar city and tesla is a perfect combination together. besides the fact are they making money? no, losing money hand over
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feet. if they don't get together i think that both the companies could suffer. getting together there's a great synergy, it's not solar panels, but a solar roof that connects to a wall charger in your garage and charges your car and good to go. the sun pays for everything. with that being said, tesla and solar city have a long way to go before they make money. ashley: we're supporting it. stuart: this is my money supporting your car, larry. i hope you remember that. >> i appreciate that. stuart: check the big board, where are we? 18, 883. we're up 15 points, okay. there's a dow component, it is cisco. it looks down the road and said things don't look so rosie. it's a dow component down 5%. a big drop there. the parent company of victoria's secret and bath and battery body works, a weak outlook for the christmas period, down it goes.
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and let's look at the big name techs, that's where the moy has been going until recently. amazon, facebook, microsoft, alphabet up. apple down slightly at 109 on apple. best buy, they're selling a lot more mobile phones, we understand. i expect the stock to be up. is that the case, nicole? >> it's up and it's a new multi-year high as well. stock is up about 6%. right now, mobile phones, television, also home theaters. the company beat on earnings per share in profit and gave a great outlook that also beat the analysts a little worried about the holidays because there's been a lot of product recalls, but let's not squash their gains here. the number one electronic store in america and they had a great quarter. stuart: nicole, let me tell you about staples. it looks like it's a very different story there. shall we put them on death watch? >>. nicole: i'm not sure about that. i will say to squash this one. the analysts are concerned about just the whole overall
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environment, that people are moving to more digital type life style and that this company is working on a very big turn around. you don't need as many post-it notes and paper and things like that. stock is down 1%. their deal with office depot was squashed by the government and missed on profit and revenue and same-store sales. they've had a tough quarter and the going forward part is weak as well. trying to close 50 starts and 35 so far. stuart: we will not put it on death watch, but dr, would you buy it at 8? >> no, i do not like buying it here. i think that best buy won the consolation war and however, i think in the absence of getting them and office depot together, staples, they've got a long row to hoe. stuart: wal-mart, the stock has gone down 2, 3%. ashley: earnings came in at 3 billion, that's a billion a month, but profit actually down 8%.
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this is a company that's trying to reinvent itself with the pressure coming from amazon, of course. the only bright spot i could say, e-commerce sales were up 20%, but they're in a turn around phase right now to try and come back e-commerce, but they're down because of those numbers. stuart: you know, reinventing wal-mart is a tough job. would you buy them? >> not a buyer, if you've got it and holding it for the dividend. don't see a problem there. going to be a cash cow for a long time. the revenue miss was important and we were hoping to stem that. they did better last quarter. stuart: i've got a story about what we're calling white house north, that's trump tower. okay? some people on wall street think, is that a live shot? not sure what we've got. a live shot trump tower, fifth avenue new york. to the left, you can't see it, but just to the left is tiffany the great jewelry store. a lot of people think if mr. trump takes up residence, even for weekends at trump tower they're going to close
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off fifth avenue and that will hurt tiffany's. >> you could have protesters, could have high security, some am analysts say that store traffic could be cut in half. this is not good when we're talking to the weeks leading up to christmas. 10% decline means nearly a 1% hit to worldwide same-store sales. so there's a lot of concern that the big fuss going on right next door is going to hurt their traffic. stuart: what do you say? >> with their on-line going on, which they do some and all the stores worldwide, the number, about one out of 12 dollars comes out of that place we're looking at and if that cuts down, it's going to hurt the stock. stuart: here is the story i've been wanting to get to, estimated 20 billion barrels of oil in west texas. that's 20 billion barrels, almost three times bigger than
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the shale in the dakotas. that requires deep, deep fracking. tough to get at, but it's there. and that's mike pence walking into capitol hill. i'm sorry, larry, i interrupted you. what have you got? >> unfortunately we have to keep ruining our environment to get to the oil and that's what we talked about tesla and the electric cars. if we don't stop ruining our environment we're going to work on that, elon musk and mars. stuart: wait a minute, wait a minute. larry levin becomes our virtual reality kind of guy and then tesla guy and. ashley: greeny. stuart: and now he's bright green now. >> maybe the engineering could weigh in. the engineering is incredible and great, great for our economy. stuart: you don't have time to
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respond, larry levin. seriously. great start to the show this thursday morning. check the big board. pretty flat. 16 points higher, but we're at 18,884. next, billionaire investor wilbur ross who could be our next commerce secretary. and his take on the meeting with japan's abe. and a plan said that donald trump was onlyelected because he pandered to a huge sexist and racist base. there go in the election polls. ♪ ♪ guyhey nicole, happening here? this is my new alert system for whenever anything happens in the market. kid's a natural. but thinkorswim already lets you create custom alerts for all the things that are important to you.
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>> even though 15 minutes from now janet yellen will suggest
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that a rate hike is appropriate relatively soon, her words. despite that, the stock market is up a fraction, 16 points higher for the dow. s russell 2000, a broader indicator, another lifetime high. straight up. this video, moments ago, president obama arriving in berlin to meet chancellor angela merkel there. they'll hold a news conference a couple of hours from now. we'll bring you any news coming out of that. that happened moments ago in berlin. the san francisco teacher's union offered an anti-trump lesson plan. we've touched on it earlier and what else. ashley: calling trump as you said a short time ago, a racist, sexist man who became president by quote, pandering to a huge racist and sexist base. it's not compulsory. the republican national committee in the area saying this is inappropriate in every
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day, but students in this area say, look, they're worried about the surge in hate crimes. they don't know what to do and so this class has been added to the curriculum. stuart: that's a disgrace. to tag our incoming president on a racist-- >> on a union website saying this is what you have an option to teach. stuart: let's break that and donald trump wants school of choice. come on. and we're going to watch the comings and goings of protect cap -- cabinet members. special guests joining us now, trump guy wilbur ross. there is speculation that you will be trump's next commerce secreta secretary, anything to say? >> i'm not here to talk about
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that, i'd much rather talk about the market and that the things that we're doing in the market. stuart: hold on a second. i want to bring to your attention the meeting at trump tower later on this afternoon, i believe it's 5:00 this afternoon when donald trump meets with japan's prime minister abe. the knock on donald trump has always been, he's going to start a trade war. what's going on here? he meets with the japan prime minister first face-to-face, trade is a big issue. what's happening here? >> i don't think it should surprise anyone that every world leader is going to be coming around to meet with the president-elect. it's a natural thing. it's a normal thing. it's part of the transition of power from the obama presidency to the trump presidency. so i don't think there's anything very strange about that. stuart: where are you right now, wilbur? i'm not sure of the location there.
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>> i'm at your studio in florida. stuart: in florida. it's a very short flight up to trump tower. will you be coming up at any point, one-on-one interview of any kind? can you tell us that? >> i'm down here in florida. i have some business appointments during the day. for me, florida is not just a vacation home, i actually do quite a bit of business here and that's what i'm going to be doing in a few minutes after this show. stuart: do you have a private jet, wilbur? >> oh, come on now, next you'll ask me what my blood type is and things like that. stuart: i'm just saying, a future commerce secretary cannot fly commercial. i'm simply asking if you have your own jet to fly at teterboro and jump cross the river and you're at trump tower in no time. >> i believe that people in the
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government very rarely fly on private jets. i think that's not part of the routine. stuart: i'm sorry i did that to you, wilbur. very sorry. if you become-- >> no you're not. no you're not. stuart: if you become commerce secretary i'll owe you an apology. you're a good sport. we appreciate it, thank you for being on the show all these years. >> thank you. stuart: valeant pharmaceuticals, have a look at that stock. federal prosecutors say charges against several executives, are they pending, these charges? >> they are, a news conference has been set for noon to talk about this. the u.s. prosecutor's office here in manhattan. it involves valeant, the pharmaceuticals company. there's been a criminal investigation as to whether they hid the relationship it had with a special ty, a specialty drug pharmacy that basically boosted, helped boost its sales without insurers letting them know.
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philadore, they've been cooking that, and we'll find out what's been happening. stuart: they've been under investigation for a long time, for months. ashley: yes. stuart: where are we now? we're up 17 points, winners and losers of the dow 30, split 50/50. we will be back. ♪
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>> all right. we're now up 21 points. even though, despite the fact that in five minutes, janet yellen will say that a rate increase, as an interest rate increase is appropriate relatively soon. so there. up goes the market. wal-mart is down, roughly 3%. not buying much there, so much as we used to and down that stock goes. how about this? best buy selling a lot of mobile phones and up goes that stock, a 6% gain there. i've got this one for you, human gene editing has arrived in china. fox news medical a-team, dr. mark siegel is with us now. quickly, gene editing, you take a gene out and you take things out of your genetic system, editing out?
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>> yes. stuart: okay. >> most diseases occur when a gene arrives and causes something you don't need. >> china has started doing this on human being? s. >> yes, on cancer. cancer has a gene n autos surface pv-1 goes in like a spy game and tells the immune system i'm not here, you're invisible, you can't see me. guess what gene editing does? that edits out the part of the immune system that responds to that. all of a sudden it sees it and goes after the cancer. we have drugs that do this. this therapy does it and it's exciting. >> it's exciting, but opening pandora's box. why can't i go to the gene editing person and say i'd like a white, blue eyed, blond
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haired person, pandora's box opened. >> in the scientific community, it has to be highly regulated. designer babies could come from this, i'm worried about this, but you have to have this to cure disease. stuart: huntington's career. >> one abnormal gene. cystic fibrosis, multiple sclerosis, i believe one gene. alzheimer's, you keep going down the line. stuart: you've got to pursue it despite the dangers inherent there in. >> got to be under government-- one of the few times you're ever going to hear me say on the show it has to be under government control. stuart: i agree. what a story. the trump towers, the president-elect holding more meetings with potential cabinet members. you'll watch the comings and goes throughout the program. and we'll be back.
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stuart: in outcome i never seen anything like this or. the president-elect has a home in the center of new york city and he uses it. he is living there. he's interviewing their and trump tower has become the white house north. but those of you who may not be familiar with the city geography, let me tell you the trump tower is right on fifth avenue. it has become a huge tourist attraction. it is essentially a near circus. today, henry kissinger will pay a visit along with governor nikki haley, florida's rick scott retired four-star general jack keane and a whole lot more. it is a long list of comings and goings of visiting. the comings and goings have been front-page news. show up in that lobby and the media makes you a possible candidate member. donald trump is using his new york residency during the washington salon from a distance. no washington lobbyist and his team he says.
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speaker ryan says we are not going back to those in the messier marks. what is really got the city by the city by zane is the news that president trump may spend a lot of time here. can you imagine the states holding forth from a glass tower slot bag in the middle of america's biggest city. anti-trump barricades, fifth avenue shopping mecca close off. tiffany is next-door. they are already warning his sales trouble. clearly this is a most unusual presidency. trump tower white house north. the second hour of "varney & company" is about to begin. watch out. we've got a spike in mortgage rates. ashley: we've seen on this rates
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going up. 3.94% up nearly half a percent. those mortgages, folks come is starting to get more expensive. stuart: last week it was 3.4% and now it's 3.9. in that week we've seen the yield on the ten-year treasury announced that have have been in mortgage rates. ashley: mortgage is getting more expensive bottom line. stuart: i didn't want to hear that. the homebuilders are up sharply all over the place that today 1%, two percentage points on the move that there appeared mortgage rates going up. happening this hour, right now janet yellen testified to congress. she says we know what she's saying in her opening statement. we've got it for you. she's going to say a rate increase could very well, relatively soon. that is what she's saying. we are going to monitor for any
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news they don't have to watch the dow industrial not regarding terribly seriously the down 14 points as we speak. breaking news right now. natural intelligence director james clapper resigning. he has submitted his letter of resignation. not much of a surprise there as his term as i appeared more meetings at trump tower today. president-elect trump will be working on building this cabinet. who are we expecting to show up the white house north? >> the revolving doors working overtime. who's coming to trump tower? henry kissinger, how about that for a big name to meet with mr. trump on foreign policy and sure. governor nick e. hailey of south carolina coming in. some talk about her or secretary of state. i know that giuliani has been talked in that position. jeff has domain over the texas governor rick scott of florida.
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she's with oracle israeli born businesswoman, highly regarded in jack keane and ken blackwell among the conservative evangelical crowd. a lot of folks coming in and out. >> trying to get a question into a kid stuart: hillary clinton has made the first public appearance since she lost the election. she says losing measure want to crawl up and never leave the house. watch this. >> i will admit coming here tonight wasn't the easiest thing for me. there have been a few times this past week when all you wanted to do is just curl up with a good book and never leave the house again. >> the defense fund meeting in d.c. yesterday. her supporters are so common in president-elect trump to pardon her. roll that tape.
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>> secretary clinton has not been legally accused or convicted of anything. president obama should follow the example and also a preemptive partner would be a monumental mistake to secure the prosecution after the clintons. stuart: well, that came out of the blue. anthony williams is here out of the blue. what do you think of that? >> for us we were discussing it was very hard on hillary clinton with this campaign. i'm not in the business of kicking people when they were down. she was absolutely defeated. stuart: you thought she looked -- >> she looked defeated. she actually said i'm sorry, which is not something any presidential candidate has ever said before. i think this has been a complete number on her. stuart: and inevitably appear for 20, 30, 40 years, she's wanted to be the president of the united states. she got very close on the
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popular vote. >> for the first time in her life is over. even after 2008 this is a lovely plant. we have another opportunity. this is the end of her political road. stuart: so should she be pardoned as reverend jackson once? >> i thought about this for two hours this morning. i don't know if that helps. jesse jackson said that in the best interest of america. i'm not convinced of that. it's in the best interest of hillary clinton. i think that is a decision for rock obama. >> i tend to think that a presidential pardon from barack obama for hillary clinton. she will be taken her when she's down. >> i've got a lot of questions on twitter. can he pardon someone who's not been convicted? the answer is yes you absolutely can.
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i don't think this helps barack obama. i don't think it helps america. the >> i've got more for you later. the mainstream media especially "the new york times." very critical for donald trump's transition. the times headline firings in discord but trump transition team in a state of disarray. that was november 15th for heavens sake, less than a week after the election. look at this, most president-elect do not announce first cabinet positions until at least week three barely into week two. fred barnes is with us this morning. you've seen a lot of elections. would you call this transition chaos? >> i wouldn't call it chaos but disarray is okay. all presidential transitions are in a state of disarray. hundreds of people seeking jobs. then people commented to be interviewed for jobs. that's just the way it works.
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it was that way in ronald reagan's transition. jimmy carter's transition. they're all like this. stuart: you've just written an article on why donald trump should name john bolton and not rudy giuliani secretary of state. ambassador bolton on this program earlier. listen to what he had to say. roll tape. >> i am old-fashioned in this regard. i just don't think with respect to the decision ends a president-elect trump is about to make. i don't think we should bargain publicly in front of him. i don't think we should respond to praise or criticism. he will make his decision in his own good time to move on. stuart: you want john bolton, but not everybody agrees with you. senator rand paul says no man is more out of touch with the situation in the middle east than bolton and man it a menace. so are you standing by after
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that last advocate senator? the macbook, rand paul was highly critical of all the foreign-policy positions of donald trump during the campaign. john bolton disagreed with him when he wanted to win. he wanted to get rid of the patriot act if you remember it. john bolton's response was that senator paul would not recognize all of the founders of the country if he met them in the hallway. he said obviously the patriot act was constitutional so they don't like each other. that's clear. john bolton understands i believe the big problem for somebody coming in to see them what you need somebody who does the touring. that is something called the foreign service. they will take over the presidency. they've done it many times. >> using coming to going to trump tower. you seem the talent they are
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thinking out loud. do you think a lot of people who are known from the past and not enough people, new blood for the future? >> i think there's plenty of new blood. for instance today, jeb had today, jeb had so incoming chairman of the house financial services committee is coming. i'm not sure how old he is. maybe late 40s, 50s. and you certainly would make a good treasury secretary. another one is general jack has been on fox many times. a brilliant retired general who i think would make a great defense secretary, national security adviser. one of the smartest, most trustworthy analysts of defensive foreign policy around. they are both coming in today. stuart: we will see. thanks for being with us today. to world leaders both of them reeling from political setbacks. president obama and chancellor angela merkel together in
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berlin. you are going to hear what they have to say. president-elect trump building into the white house in two months. there are reports that he may not be able to use the oval office. we got the details on that. nigel garage, once you think about meeting with angela merkel? watcher explode. jesse jackson calls for presidential pardon. what an hour with god for you after this.
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stuart: jayna gallen began to speak in front of congress, calling for a rate increase of appropriate relatively soon. i noted the market is turned and
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now we are down four points. the dow 30, evenly split between winners and losers. valiant pharmaceuticals, federal prosecutors announced charges against several executives. valiant explode preacher and down 6%. link didn't come the "financial times" report that linked in is and in russia. let's see if there's any reaction to that. no reaction whatsoever, dead flat. i'll grant that you know anything about this, the parent company of the tory secret and that somebody works. a weak outlook for chris is dead flat. usually they go down on that kind of thing. cisco gave a downbeat forecast and they are down. 5.5% for cisco. that is not helping the dow 30. wikileaks revealed that cnbc john harwood who hosted republican debate worked with
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then basically for the clinton campaign. harwood is still on the air. we have heard a comment let alone an apology. bob rice is the former nbc universal chair and ceo. he knows all about nbc and john harwood, don't you, sir? >> i know him. stuart: why haven't they apologize? >> he got punished pretty badly at the debate if you remember. he was off the air for some period of time after that. and he clearly made inappropriate comments and remarks about it. i can answer your questions. stuart: it's a tough thing for you because he used to run nbc. wouldn't you say some kind of statement would be appropriate from nbc? >> it would be an appropriate clearly. stuart: of what you'd respond to this.
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nbc news headline as trump last the press behind, it would offer a steak dinner as you know and the headline reads nbc as trump lives press behind for a steak dinner, incoming administration already showing lack of transparency. do i do stand behind that from nbc, mr. wright? >> i think that was a bit over-the-top. there's so many people out there fishing for anything about trump that can be inappropriate. if that is the worst thing he ever has, if ever going to have any fears at all. i heard that he had sort of a standing ovation when he got in there and for some period of time he was sending a most popular table which is called table 11. the guy just want to have dinner with his family without us in the room. plenty of people in the room have cameras.
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he is not hiding anything. stuart: he got out of bat really well. do you want to be secretary of state? i really want you on the show today because you have launched i believe the suzanne wright foundation fighting pancreatic cancer in honor of your late wife. pancreatic cancer to me seems like a death sentence. what do you do? >> it is a death sentence. she was diagnosed on october 29th at 2015. she's the class of 15 if you will. she died on july 29, 2016, 9 months to the day. i was with her every single day. even when i traveled i made sure was with her one hour before her one hour for mid-night. we had around-the-clock nurses, 10 different type or some come in two different hospital chains involved. i did everything possible. all kind of new and possibly very helpful drugs and things in
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the years there is that worked. the problem is the standard of care for pancreatic cancer is terrible. it's just awful. i'm 6500 colleges around the country, that's the standard of care they use. it is essentially three or four key most which have extreme side effects. not everybody is the same. susanne had heard that side effects. stuart: so far nothing works. >> i waited until the whole thing was over and i tried to put my own sorrow too bad by saying i don't want to see anybody else go through this. a lot of this is needless. there's been no improvement in the mortality rate of pancreatic cancer in 40 years. it's 92% of people die and they mostly die in the first year or year and a half and it's terrible. the national institute of
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cancer, which is part of the nih sits there and they say we are going to move forward and do more research. there's no sense of urgency, no emergency theory here. it is shocking to me this is going on. i was in washington the last two days. meeting with various members of congress and appointed people. there's a lot of people in congress that feel the same way i do. they can't mobilize the nih. they can't affect change. there's a real opportunity for a new administration by the way coming in. everybody that's appointed in a political appointee automatically hand's resignation over. that's why there's 4000. a lot of opportunity for change in leadership and priority. this thing should be treated as an emergency. stuart: bob rice come a pleasure having you on the program. i vigorously support what you're trying to do here, even though you didn't hire me. you're all right.
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>> i think that week we were not hiring any english. actually, we were very sorry that didn't work. stuart: has the statute of limitations ran out? gross discrimination against foreigners. best wishes. >> thank you so much. stuart: the dow industrial turned around on three points. that's it. jesse jackson wants president obama to pardon hillary clinton. we should all just move on he says. judge jeanine. i'm a harsh critic of hillary not happy about that. watch out, she's on her way. >> thanks to the clintons, here we go again. if she misrepresents the facts, which she assured to do, interrupter and hold her feet to the fire. you may not have a place in hillary clinton's america. it's time to throw some punches.
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stuart: that is gordon light. happy birthday, mr. lightfoot. you are 78 today. we are running this because i like the music. let's get that clear. i think he makes the best and clearest sound of that kind of respect. and a voice and a half. i wish i had a voice. if anybody disagrees, take it up with me on facebook, please. i think this guy is great. happy birthday, gordon. we love you. now this. you weren't expecting that. college students across the country continue to protest mr. trump. watch this.
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>> i'm here to stand with my friends to call for a sanctuary campus. if nobody should have just done your live in fear. rutgers should you a sanctuary. >> i'm here to take a stand for people who are immigrants, people who are undocumented or people who are going to be subject to discrimination because the incoming administration and the campaign is getting coverage of a lot of fringe elements. stuart: welcome to sanctuary campus. what do you have to say to those youngsters they are? >> the lawyer in me would have to tell them the law is the law. we know we have a broken immigration system in this country. in the meantime, that does not give you permission to break the law and then ask everyone to be okay with it. they really are absent people are not condoning really illegal behavior. >> these youngsters have not been listening properly. donald trump wants to -- not anti-immigrants.
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>> that is no different than the law on the books right now. if you're in this country and document you came here without the legal process of immigration. you are subject to deportation. donald trump is talking about enforcing existing law. stuart: antony kay come you've really come a long way. >> -- as the law, stuart. it's amazing. thanks very much indeed. you've got a bear. >> he is considering a register for immigrant from muslim countries. how do we feel about that and watch the tory peer that got it for you. president obama very confident and says people think he did a pretty good job that the country is in good condition. we arrived out one. more "varney" in a moment.
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stuart: it's a very modest downturn just 10 points over to the dow industrials as janet gallant testifies on capitol hill about maybe, probably a rate hike in december. best buy, look at bat, a winner today. 6%, maybe 7% in greece. they buy mobile phones of business start. different or at wal-mart. we are not getting quite as much money as we are supposed to be spending and they've got this big challenge from amazon, and telling. that was 4%. a drop for wal-mart. first solar, weak forecast and shareholders vote today on the
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tesla's dollars b. merger. solar city is down 2.5%. some of our most watched tech stocks drop right after mr. trump was he like it. today some of them are bouncing back but only by a little. they are still way down except for microsoft which i owed. sixty dollars a share for microsoft. here's a story. i really like this one. oil in texas. a big new find, a discovery. what is it? three times bigger. >> absolutely in north dakota. as part of the permian basin and not part of it, the wolf can formation. how much? they estimated 20 billion barrels of oil in four layers of shale. how much is that worth? about $900 billion at today's prices. forty-six dollars a barrel.
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it may not be that easy but it's going to take a little bit. nevertheless this is another blow. absolute need for that domestic oil. thank you. one of president-elect trump advisors said they are considering a register a of all muslim immigrants coming into america. you is the month on and his family has immigrated here. a lot of people saying he wants a registry of all muslim. that is not correct. he wants a registry of those coming into the country. what do you make of that? >> stuart, this is another example of the fear mongering by the hysteria coming from the identity that doesn't want to look at facts. i sat on the severed for a register muslims will be the
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first one to why not. that is not what this is. this is reams dating a bush program from 2002 when after 9/11 we realized the 19 hijackers had not been there. we didn't know who they were. this is a national security entry exit registration system so people come in and get registered. not just muslims, but anyone coming from jyoti cauldron. the obama administration had this in place until 2011 and the abandoned it. since 2011 we've had and bernadino committed who should have been registered. we've had us in. we've had orlando. all of these folks have traveled and come back. we should know about their travel. after the fact we found out that they went to g hottie areas and we didn't keep track of them and we should do that. stuart: that's very interesting because that's complete opposite of the way this is the portrayed in the media. the diametric opposite of what
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we hear. how do you feel about that? what kind of a position to put you in? you served 11 years in america's navy. you're a muslim. you're extremely moderate. are you being attacked frequently? >> i have to tell you there's nothing more pro-muslim but the defense of constitution but a criticism and a critique of political islam and the islamist movements domestically and abroad. i will do everything possible to defend policies that target the ideologies that are threatening as jihadist movements abroad. there's nothing i see more pro-american and pro-muslim than preventing who would come in as insurgent to come into this country. my families the same way and the area. they certainly don't want them coming to america and shift
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register all immigrants but anyone coming in because we need to know those people coming to visit. stuart: on the left-hand side of the screen, our viewers have been looking at the devastation of aleppo. that is one to do that is truly devastated. thank you for being with us as we look at that horrific video right there. more to come. stuart: president obama on his final tour of europe. he thinks he did a pretty good job of running america and its economy. roll tape. >> the problem was i couldn't have been the republican congress to pass the lot of them. having said that, peopl think i did a pretty good job and so there is this mismatch i think between frustration and anger, perhaps via the american people was that they need to
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shake things up. >> if it wasn't for this wicked republicans. author of the book global shocks. you're an economist. is the president leaving america's economy in good shape? >> isaias ho hum. we are growing at 2%, well below the trend. i think might take on why did they lose is really two economies. if you're college-educated cam you work in new york city or chop list. your home prices went up. those who got forgot a lot of blue-collar workers. i was living in ohio. stuart: the top 20% of income earners are doing just fine.
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the bottom people are really well supported by this administration. it's the people in the middle are the ones who are pinched. they are the ones hurting. is that reasonably accurate. >> if you're middle income, would he have to do? i'm a dad both have to work to make up for less pay increases in the use to get. the people in the bottom of the matter are hurting but they are subject to getting transfer payments. >> i've got a strong opinion on donald trump incoming president. you will reduce economy and he will be a big spender of government money whether it on infrastructure or something else. bill spending environment sonatas to me that in america's economy. am i right.
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>> we've seen this story before with ronald reagan. the reduction of regulatory burden. reagan wanted to control spending. he increased military but he couldn't get the democrats to go on a social spending. we wound up about that budget deficits and that is the challenge troubled face. cringe at this time around he would get his way with congress because it's republican. i don't think he was to cut spending. i think he wants to spend money. >> i believe that's true. there's not a problem on the military. the real issue they've got to convince mr. president you had before you're in office, it will balloon in the out years. if we go on spending tax cut
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thank you indeed. come again soon. i'm going to switch gears completely and talk about snapshot. that is the app that lets you send photos and videos that disappear. they will have an ipo. i believe for about $25 billion. >> could be 30 billion maybe as early as march of next year. snapchat has 100 million active users good 60% of those are between your teen and 24. the sole source of revenue. that is enough a high valuation. i know you're going to love it but we had a viewers send in some of her own. just changing some of the pictures we have good but start with elizabeth mcdonald if we can, looking more like an alien. absolutely. stuart: i suppose you ran me through. ashley: kind of looks like a motorcycle cop.
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and also as do as a very disturbed -- stuart: get rid of that now. thank you very much indeed. $25 billion in the messaging system that lets you get rid of the message after 10 seconds. >> i'm too old. >> there are two people i know who it say yes. one is my assistant who did it to me. the second one is my 4-year-old grant done and it's his favorite. so who am i to say what will appeal to the younger generation. >> the high-technology is the message concentration of wealth without a lot of jobs. >> so we have the old economy. that is what trump wants to revive. i think the future of america is our technological leadership. stuart: thank you very much indeed. the headline coming in from june
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a gallon testifying before congress right now. she was asked if she could imagine any circumstances in which she would not serve out a full term. her and her, no i cannot. so she plans to stay through the end of her term which will be ending in february 2018. no market reaction whatsoever. leftist mayors are big sanctuary cities. they won't deport criminal illegal immigrants. more on that in just a moment.
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ashley: remember "varney & company" starts at 9:00 a.m. the third. here's what you missed last hour. over boston japan by minister meeting with donald trump. >> what's going on here? he meets with the prime minister face to face. trade is a big issue. what is happening here? >> i don't think it should surprise anyone that every world leader is going to be coming around to meet with the president elect. it's a natural thing, a normal thing that is part of the transition of power from the obama president gave to the term presidency. i don't think there's anything very strange.
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stuart: moments ago mike pence begin on capitol hill after
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lawmakers. roll tape, please. >> i'm glad to be back among my former colleagues. we are excited about moving the trump agenda forward. i'm so grateful. so grateful for the warm hospitality and all of their determination to work with their incoming administration to make america great again. >> it's very humbling. i spent 12 years -- [inaudible] with many men and women elected since then and to see the enthusiasm for the president-elect's agenda for this country. i'm very confident as we move towards inauguration to bring together a great team. they work in concert with leaders in the house and senate. we will move an agenda that will rebuild our military, revive our economy and in a word, make america great again.
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stuart: none of the people who get on camera will say yes to god this guy for this job, this lady for that job. that's not going to happen. what we see in white important as you are looking at the emergence of trump's administration. that is what we are all living with for the next four years. what we've already seen as the removal of lobbyists. there is a five-year ban on appointees lobbied the administration. that is draining the swamp. paul ryan say you know we are not going earmarks. again, this appears to be to drain the swamp administration. sanctuary cities. the mayors of new york, los angeles, chicago say they are not going to help donald trump deport criminal illegals. ebony williams is here. what you say to those leading mayors of america? >> they've got a serious problem on their hamper the constitution. we have something in this law called the supremacy clause. the supremacy clause says that
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the federal law is superseding. if it statutes conflicts, the federal law and period for me this is a clear-cut analysis. the federal law says if you are criminal, you are documented in subject to deportation. so when these local mayors say that they are going to stand up in the face of that and not enforce federal law as it stands, they've got a problem on their hands. trade today are now in the position of defending and murderers and people with a felony conviction who are in their cities illegally. >> they could be subject is due. if you are the family member of a victim of one of these illegal immigrants who would've been subject to deportation in your rob emanuel or mayor devaughn see how, you have a no or should have known standard. you should've known this this person is likely to do this.
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this could open to all legislation. >> maybe just cut off funding in some form or fashion. there's got to be a consequence for not following the law. >> another thing going on. deblasio -- deblasio in new york are not giving the true story. they are defending all immigrants. criminal illegals. >> exactly. that's an important distinction. to not make that point, it comes across as intellectually dishonest as these community leaders in mayors because you also do a disservice to the immigrants like yourself who are here legally. that's the worst thing they could do. >> of these people were likely to vote republican, and do you think these cities will be defending them? i don't think so. >> it's more important to work off immigration at the same time. stuart: i've got a couple of charts for you. united health care. look at that chart.
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the progress of the stock since donald trump was elected president last tuesday. that's straight up. flatlined thereafter, but it did go straight up. same with health care insurer. it went straight out. donald trump will repeal and replace obamacare. the health insurance stock went up i'm not in the election. i'm sorry we were supposed to have judge jeanine hero this time. she's been called away. we will try to get her back as soon as possible. just to cheer you up. baby monkey in china, adopted by ghosts. that monkey was abandoned by his family, found by a farmer. the monkey now clings to one of the goes as if it were his mother. we brought it to you. donald trump may not be able to use the oval office until the year 2018. may have to use an office across the street. why?
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why is that? we will tell you after this. ♪ ♪
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ashley: janet yellen testified on capitol hill. we thought we would change this. have you ever seen her walking? some headlines. rate increase could happen tonight in december. she plans to stay through the end of her term in february 2018 and she doesn't see the trump administration changing the policy on interest rates. you are now caught up to speed with janet yellen's testimony today. president-elect trump may be facing another problem when he moves to the white house he will be able to use the oval office. president obama has refused to renovate the oval office leaving upper trump to handle. that means the incoming president baby force to work elsewhere as the oval office is renovated for new security upgrade. until the oval office is ready, mr. trump most likely will have to do work in the old executive office building right across the street. two world leaders both wheeling
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for political set acts. president obama, chancellor angela merkel of germany together in berlin. you'll hear what they have to say plus the dow slightly lower. a new 14 year high. our three ahead, three minute delay. -- three minutes ahead.
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stuart: two world leaders about to leave the world's stage will be taking center stage moments from now. president obama is about to hold a news conference with germany's angela merkel. she is still chancellor but by next year she will probably be gone from german politics. and that's what make this is event so.i can't. president obama is on a farewell tour. he is scrambling to put positive face on what many considered his failed foreign policy he knows that donald trump will reverse what obama believes achievements. climate change accord, iran nuke deal, what will he say about
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those today? you will see in a moment. angela merkel may be on something of a fairwell tour. decision to open the europe's door to millions of muslims migrants, changed continent forever. and divided it. her party has taken a beating. what will she say about muslim migrants? what will she say about the future of europe. ironic, isn't it, two leaders who once shaped the world should be appearing together in retreat. who would have thought. the third hour of varney and is about to begin. ♪ ♪ ♪ here's to the losers, bless them all ♪. stuart: that is little harsh.
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frank sin naught at that's song. as we await president obama and chancellor angela merkel. the trump and "brexit" elections are referenda on their policies. more on that in just a moment. the action on the market so far today, politics has been trump tower and capitol hill. some. biggest names of politics arrive at trump's city residence. henry kissinger. governor nikki haley. congressman jeb hensarling. there is a long list. joining us bret baier host of "special report." we're told that this transition is chaotic. is it? >> stuart, don't know what it happening behind the scenes but i can tell you this it is on a timetable. if you look at a chart where former president-electings made their first choice, president
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obama back in 2008, made his near week three, nearly three weeks in. president reagan was five weeks in. carter, four weeks in. this has been one week and one day. so you know all these headlines may be a little bit overblown as far as the speed at which this is going. it is unique that it is in one building and we are seeing people go past the elevators like a cattle call but it is something i think we're going to see a lot of names this week. stuart: do you guys in d.c. feel a little pushed out? trump tower is white house north. it is the center of the universe. >> really is. stuart: couple hundred yards away from the real white house and there is nothing happening. >> it will come here eventually, stu. january 20th. we got it covered. stuart: what happens if he spends like, weekends at trump tower in new york city as the president of the united states? what do you say?
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>> well, that is his prerogative. he could do that. i think at the beginning he will probably spend a lot of time in washington. some presidents have gotten away. camp david is possibility. stuart: bret, i'm sorry, sir, i'm going to interrupt you. camp david i well know is out in the boonies. it is rural america. george bush's ranch was right outside of any major, trump tower, you know this is right there on fifth avenue, new york city! >> right there. that's right. gucci on the corner. i got it. but we'll see, we'll see. where we have yet to find out a lot about donald trump as president. stuart: president obama, germany's chance lore angela merkel, they will meet for the final time. they will speak at any moment now. i'm saying that both of them are kind of reeling from political developments quite recently. what do you think they are going to discuss? what you do you think they are going to say? >> well, i don't know. listening to the president over
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the last couple of days, his answers have evolved. they have started out as being, talking about the process and smooth transition. got a little bit more critical of donald trump yesterday, and about the election. what has not sunk in i don't think is how much his policies were on the ballot this time. while he has a personal approval rating that is high, you know, obamacare is not and if you look across the country here in the u.s., 2/3 of the state legislatures are republican. the house and senate is now republican. 34 governor seats now republican. that is a legacy for president obama. for angela merkel she is dealing with her own problems about migration, integration and is seeing a political pushback in her country. this we're seeing around the world, stuart. stuart: that is extraordinary stuff. there isn't a apartment
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available on fifth avenue. if you want to know grid lock, come up to new york. >> that is where it is. stuart: bret baier, everyone. appreciate it. >> have a good one. stuart: let's bring in monica crowley. i want to get your reaction to president obama, news conference shortly with angela merkel. we were a little harsh at the top of the show with frank sinatra's song about losers. that was a little harsh. what do you make of it? >> iting to hear what they have to say because president obama and angela merkel are globalists. what we saw is wholesale rejection not just here in the united states but with the "brexit" vote and regional elections in places like france, austria and germany, is wholesale rejection i about the voters of globalism. stuart: they're in a tough spot because you're right. you're absolutely right, had setbacks politically of major proportions. they have to appear together as they exit the world stage. >> not just setbacks. these are massive rebukes of the
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upper class against global ruling elites in the united states. donald trump is not traditional republican or conservative. he is a populist. you're seeing the rise of populist movements across the west. the unprotected class, who have to live with consequences of what ruling elites inflict on them they have lived consequences on the ground, economically, migration, immigration and they're finally saying enough. we're done with this collective globalist movement. we want our individual freedom back and our national sovereignty back. stuart: we have a former partner of goldman sachs. i say that europe is finished and i say global system over. what say you? >> you don't know, i don't know how to say course correction in german. you will hear course correction for globalization over and over during this speech they are not going to admit, not cop to the fact that global system really on the rocks. what they say modest course correction is best they can try and do.
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i don't think they're really still listening to middle class not just of the united states and middle class of the world we don't accept your globalization because you did nothing to protect us on the other end. stuart: peter, you will stay for the hour. thank you very much for that. look at the big board t has been a go nowhere market for the last hour. we're ever so slightly lower. 11 points down on dow industrials. look at price of oil. we have this $45 a barrel this morning. no influence on the stock market pretty much nowhere on both sides there. look at the the at calendar on your screens of the dow moved each day since the elections. it is mostly up, up, big time too. wednesday 250. thursday 200. et cetera, et cetera. only one losing day. and look, peter kernen forecast this. he doesn't do this very often but you said if trump wins there might be initial selloff then buy. you said it. take your victory lap. >> i won't take too much of a
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victory lap i think this is a remarkable shift in the whole tenor and tone of the market. you have to look out for overreaching. for example the financials have taken off. goldman sachs is up 28% this quarter alone. the financials are a little ahead of themselves. biotech, some. others but it is still a robust sea change in the attitude of people investing. stuart: okay. got jpmorgan's jamie dimon reportedly turning down an offer to serve as president trump's treasury secretary. he is the top banker in america and he has turned down from what we hear, the biggest money job in the world. we'll update that. remember this picture, it was trump's first meeting as president-elect with a foreign leader. that would be nigel farage. nigel joins us next. what did they talk about? we want to know. of course we continue to be on trump tower watch. that would be white house north. the comings and goings will be
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stuart: now i was intrigued when i heard this. reports from asia suggest that foxconn is looking into the possibility of making iphones in america. foxconn, they make all the parts that go. >> an iphone assembled in china. what is this about. ashley: this is coming every popular nikkei asian review citing sources saying that apple instructed its two major suppliers of iphones to look at the possibility of moving that operation back to the united states. stuart: look into it? ashley: look into it. do a study. tell us is this feasible.
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foxconn being the big one. they have that huge campus where they live on sight. they're looking at it, but the general consensus is, if they do that the cost of an iphone will double. it cost estimated apple $225 to make an iphone 7 with 32 gig memory. if it is moved back and unsubsidized, all those things, goes up to the basic price of 649. almost more than doubles in price. however the fact that they're even talking about it, the fact that donald trump made that a big part of his campaign to bring jobs back to the u.s. is very interesting. what could happen, perhaps apple takes a small portion of the manufacturing and brings it back. stuart: sitting next to us is skeptical peter kernen. you don't think it has a prayer? >> i don't think it has a prayer. shrewd of apple to study this right after the election. wonder where they got the idea. likely lines of assembly people
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stuffing boards are unlikely unless they're robots. i think there is image of personal factory hovers on the horizon is something we see in the united states. stuart: got it. president obama is in germany, right now. berlin to be precise. he is meeting with chancellor angela merkel. these two leaders whose a agendas have shall we say a rough time of it. they will answer questions from reporters any moment now. we'll take you there when the q&a session begins. meanwhile nigel farage is with us. the man behind "brexit," former uk independence party leader. nigel, it is ironic these two world leaders are essentially on their way out. wondering if you want to take any credit for either of them? >> yes, i would like to kick them a little further out frankly. what we've seen today with their joint statement is that the poor darlings are in denial. they simply can't face up to the fact that their world view has taken a absolute beating in the year of 2016. it began with "brexit," the
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first break brick out of the wall. now we have trump presidency in the usa. in two weeks time we have a rerun of the austrian presidential election and last contest was scrapped because of electoral fraud and possibility of a right-wing austrian nationalist candidate winning. we also have a referendum on december the 4th in italy where renzi, the prime minister, is going for a power grab, which i think is going to be rejected. so the news for obama and angela, there is more of this to come. stuart: now you met with president-elect donald trump. just a few days ago. you were at trump tower. that is the first face-to-face meeting with a foreign politician if i can put it like that of all time. i think at the time you said you wanted to be a bridge between donald trump and the brits. can you explain that? >> yeah. i mean look, obama didn't like the united kingdom very much and he didn't think much of our
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relationship that we've had. let's face it, over the last 100 years we've shared a lot of triumphs and tragedies together, haven't we? we fought wars for liberty, democracy and freedom and you know at times very, very successful. obama downplayed that. trump is, well of course he is absolutely pro-american, and pro-ordinary americans but he recognizes there needs to abettor relationship with the uk and that can start with trade and defense and many, many other things. all i have said, having been accorded the privilege of spending time with the president-elect, is that if i can help, the british government in any way, smooth relations, not just with the president but with the president's team, i would be very happy to do so because i believe it is in the interests of both of our countries. stuart: all right. nigel farage, always a pleasure. thanks for joining us again. we'll see you soon. thank you, sir. got this for you. hillary clinton making one of her first public appearances since she lost the election.
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she sass losing made her want to curley up and never leave the house. watch this. >> now i will admit coming here tonight wasn't the easiest thing for me. there have been a few times this past week when all i wanted to do is just to curley up with a good book or our dogs and never leave the house again. stuart: well it must have been a crushing blow for her. her supporters are still backing her calling on president-elect trump to pardon her. we'll deal with that a little later on this hour. first, listen to jesse jackson. >> hillary clinton has not been legally accused or tried and convicted of anything. president obama should follow president ford's example, offer pretestimony i have full pardon. would be monumental moral around political mistake to pursue the prosecution of hillary clinton.
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stuart: all the action at trump tower today. we'll call it white house north. why not? big people in politics coming and going. connell mcshane is standing outside and tell us who is coming and going today. who have we got, connell? reporter: interesting, day,
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stuart, day of vips. rudy giuliani former mayor among early arrivals. he was all smiles, mr. giuliani was for the cameras. just before i came on to speak to you, mr. giuliani left trump tower, walking down fifth avenue. if you look at some other big names that will be here today, it is kind of like a who's who in republican political circles. henry kissinger, former secretary of state. you have a number of modern day political figures some who might like a place in administration. governor nikki haley of south carolina. congressman jeb hensarling talked about, florida governor rick scott. we have the ceo of oracle. along with business leaders. it leads up to what we call the main event of the evening, that is mr. trump's first face-to-face meeting with a foreign leader. it comes 5:00 p.m. eastern time, when he sits down with the japanese prime minister, shinzo abe. this is a big meeting for mr. trump, not only face-to-face
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with a foreign leader but key ally of the united states and one which he has been outspoken about on issues like tried and how much japan should pay for u.s. protection of military bases over there. we'll see how the meeting goes. the trump transition team says maybe we'll get a still photograph of the two gentlemen together but unlikely to have pros professors allowed in. -- press photographers. that was in difference to the fact they said because president obama is still president. they want to keep that in mind. stuart: that is a fair point i guess. connell mcshane, thank you very much indeed. the knock on donald trump he will start a trade war i guess if meets mr. abe this afternoon. does that calm thinks down a bit? >> it might calm things down however, donald trump has a lot of authority in the area of trade. he does not need to go through congress to get a lot of the things he wants done accomplished. people will have to tread, people who have not been paying their fair share for protection, whether it is in nato, or in east asia, are going to have to step up to the plate or deal with a new kind of negotiator.
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i think it's a new normal. i think abe will get a new lesson in abe-nomics. stuart: what -- abe bay-nomics. money till the cows come home. >> that does not work so well anymore. stuart: that's true. peter. this sort past mr. trump's immigration plan to get rid of sanctuary cities. new york's very liberal mayor bill de blasio met with president-elect trump at trump tower yesterday about this very issue. here is what he had to say when he came out of the meeting. >> i reiterate to him, this city, so many cities around the country will do all we can to protect our residents and make sure that families are not torn apart. ♪ ♪
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stuart: thursday morning, roughly 1130, dan hettinger is on the show, deputy editor of the wall street journal. he has a new piece out, the new trump democrats for the benefit of the audience who have not read it, what are you talking about? trump democrats? >> the postmortems the democrats have been going through since they got wiped out, and you
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can't help but notice elizabeth warren and bernie sanders and nancy pelosi are all saying, quote, they think they can work with donald trump. does that mean we are all trumpians now? there's a footnote, they will work with him if he becomes one of the man signed on progressive policies that got them wiped out. i don't think that is going to happen. stuart: they know it is not going to happen. what are they trying to do? >> they are trying to sound bipartisan but the fact is democrats are going through a period where they are trying to figure out how did they lose trump voters? and ohio, pennsylvania and michigan, they voted for them, franklin roosevelt through bill clinton, how did they forget people who voted for them for 80 straight years? they forgot how the real economy works. democrats literally have
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disconnected from the real economy out there in the country. stuart: the british voted to leave the european union and the british labour party, an enormous giant leap to the left led by a marxist these days. do you think the same thing is happening in america? keith ellison could be the guy who runs the democrats and he is far left. >> very well could happen, they do not get it or understand, take these voters aware of economic fairness, what they are talking about is the same process of taking money out of the economy and redistributing it in thousands of ways into people's pockets, that does not raise people's income and that is what they don't get. stuart: that was the policy, redistribution, talking about any quality all the time does
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not work it worked in britain but has not worked in the united states. >> they are looking -- with obamacare, greatest failure of liberal ideology, a big idea, big entitlement and not working as people in places like wilkes-barre, pennsylvania, understand that, that is why they flipped from democrats to republicans and trump. are the democrats going to get it? i don't think they will. stuart: i'm distracted by reading your article, democrats should be looking for the last tribes in pennsylvania, ohio and michigan, an archaeological dig. >> that is what the president has been doing, archaeological excavation site and trying to discover who are these people in pennsylvania who voted for trump. stuart: you are having a party. >> great when the democrats give you the straight lines.
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stuart: anyone who wants a high post in the trump administration has to sign a pledge banning them from being a lobbyist for five years. monica crowley still with us. doesn't this deny talent from the capital? >> a key campaign pledge, donald trump running as a consummate outsider, somebody who had never done this before, and everybody been there before, the whole revolving door, donald trump will come to your point, and talented people not compromised in this way. stuart: tell me about sanctuary cities, donald trump wants to get rid of them, berries liberal mayors across the country saying we will defend our immigrants, they don't say we are going to defend murderers, rapists and
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other illegals, we are defending immigrants, that is what they say. >> when the obama administration sued the state of arizona for trying to enforce federal immigration law because the feds wouldn't do it under this president, all donald trump is saying is as president i will enforce the laws on the books and that means eliminating thing to where he cities. if it gets pushed from left-wing mayors there is a very simple tool at his disposal that authority on the books which is withholding federal funding. stuart: some of these mayors will be in a difficult position, they are defending a criminal alien who has committed murder or rape or something of that order and they say no, we are not going to get him and the feds will not get him, outrageous situation. ashley: outside trump tower yesterday, we are going to protect our citizens. how does he reconcile that to the fact that he is protecting murderers and rapists? complete opposite of what he
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says. stuart: rahm emanuel. 600 death and he will keep everybody safe by keeping criminal agents in the city? role that tape. we have bill diblasio on after his meeting with donald trump, roll it please. >> that proposal countered and flew in the face of all that was great about new york city, the ultimate city of immigrants, placed that succeeded because it was open for everyone, built generation after generation of immigrants and i reiterate to him this city and so many cities around the country will do all we can to protect our residents and make sure families are not torn apart. stuart: he is missing two words. what are they? criminal and illegal. on your screen, president obama and angela merkel, the press conference in berlin, we want to
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take you there when we begin answering reporters questions. the muslim migration, the divide in europe, we will get to that at that point. monica crowley still with us, the headline is donald trump and the real black swan event. that is something that comes out of nowhere. and changes anything. >> long-term implications. in the washington times come all these observers calling donald trump the election, the election of barack obama in 2008 was the actual black swan event, a man on the far left was charismatic, first black president primary early why he got elected and reelected but the disconnect between the man and the unpopularity of his policies which suffered a major rebuke
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was a disconnect he never understood. the national self correction, a state of normalcy. >> black smile event, they do signify stamina. >> you and i had this conversation many times, and people stopped listening. and they were unhappy with being left behind for more than a generation. and honestly it took an obama to do that. stuart: dan henegar with his microphone on. i would suggest, donald trump's
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election, with bigger consequences. >> it was a bigger change in the composition of the electorate. when barack obama won he put together a coalition of the ascendance, minorities, young people and women and put them together, why he won in 2012, by that much. fast forward to this election and hillary clinton's supporting all three of those categories, coalition of the ascendance go down. and trump hold the coalition together. democrats have a big problem if he does deliver because this is a winning coalition. >> barack obama, the reason he was the exception to the rule,
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barack obama decimated his own party. democratic party on the road from state legislature to the u.s. senate and house. >> as black swan the come out of nowhere in the trump response came out of everywhere, a big discussion. stuart: the top banker in the country, jamie diamond turned down the top money job in the country, charlie gasparino reports the trump team wanted jamie diamond for treasury but he would prefer an advisory role, know anything about this? >> there is not much luck, jamie diamond is a brilliant banker, he's blunt and outspoken and highly democratic. i don't think it was likely, a low probability, and >> 3 >> being made, paul ryan talking
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about congress and donald trump, janet yellen talking about interest rates from the federal reserve, president obama and angela merkel speaking in berlin with a news conference, we take you there when the q&a starts. all three of those speeches we are dead flat, up 7 points, staying on illegal immigrants, some demanding president obama issue a mass pardon of all illegals. what do you think of that? we will be on it in a moment. when it comes to healthcare, seconds can mean the difference between life and death. for partners in health, time is life. we have 18,000 people around the world.
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nicole: i'm nicole pedallides with the foxbusiness brief. we are holding on to gains. the dow industrial average up eight points though not a record. the s&p 500 up 7 and the nasdaq up 25. hitting new high, lifetime high today, this will be the fourth consecutive record close, everybody focusing on donald trump's platform and moving smaller stocks. looking at homebuilders, better
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than expected surging to 9-year highs, strong economic data, optimism, you can see homebuilders with a barrows. somewhat under pressure this is the day shareholders vote on the merger, aol laid off 500.
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stuart: on your screens
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president obama holding a joint news conference with angela merkel. we just saw paul ryan walk away from his microphone, talking about planning policy moves with donald trump and janet yellen talking about raising interest rates in december. none of this has had any impact on the stock market at all. now this. illegal immigrants demanding president obama issue mass pardons in the trump deportation fears. i got the name wrong again -- go ahead. alex for rare. >> really not that hard. stuart: what do you make of this? is it possible president obama could issue a mass pardon? >> he could do it but it would not have the effect he wants. he could do a mass pardon
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similar to the one president carter did for the draft dodgers and said anyone who violated this law i am hereby pardoning you. stuart: do you think he will? >> no because it won't get him what he wants. it is too complicated, so any immigration laws, doesn't make them legal, just a violation of coming in illegally or remaining beyond your stay, we are not going to prosecute for that but you are still here illegally and the next day they would still be here illegally. stuart: it is not going to work. >> i don't see how it can. stuart: jesse jackson in a speech yesterday said president obama should pardon hillary clinton. what do you say to that? >> that he could do. it would tarnish his legacy, but i could see him doing it. blame it on republicans, they are out to get her so i will spare her all the hard ache by pardoning her and not
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acknowledge she committed crimes. i don't think he wants to tarnish his legacy but that is why president trump is saying i won't go after her. let the pardon period pass. he has the ability. stuart: humiliating for hillary clinton to be pardons by the man who beat her in 2008, and it would be humiliation. >> what is more humiliating? getting convicted is more humiliating. if you committed a crime, take the lesser of two evils, he can pardon her before she is ever charged while charges are pending. stuart: you don't think it will happen. >> i don't think it will happen, i don't think it will happen. >> one of president-elect trump's advisers said they are considering a registry of
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muslims who come to gather, establish -- they are talking about it. nothing illegal about that. >> it has been done before and may be broader than that, not just immigrants, but anybody who comes to the us, enter the us from a muslim country and was done after 2001, after 9/11 and stayed around in some form or another. stuart: there was a registry from 2001 until 2011. that is accurate? >> it was called the national security entry exit registration system and -- it is a condition of your probation you listen to me and the registration period they removed after a year but the rest of the act stayed and they did that because of the
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backlash. the president has incredible power, legally we have incredible power at the borders, things we couldn't do across the rest of the country, we can do at our borders, i suspected this would be constitutional if he did it. maybe not popular but constitutional. stuart: no pardons for registry of immigrants coming it is a possibility. that is the verdict. using your name again but i want my probation to be short. thank you. any moment now president obama and angela merkel will start answering questionst the joint press conference in berlin, going on now. started with opening statements about different subjects, maybe you are going to it now. i don't know if they said
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anything dramatic. listen to the question. >> you have different views on russia. after your meeting with him last weekend you assure angela merkel a trump administration would offer support to sanctions against moscow? similarly, what have you told vladimir putin about russia at influence on the us election and how would you advise european countries to deal with the same threat? lastly, would you like to see her friend angela merkel run for reelection next year? >> you are german, showing off. be change the american president calmed you in the sense that the policy of his successor on climate change and russia, have allayed your fears and are you concerned the european policy towards russia, after the election of mister trump, would
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you as a sign of civility, would you have to declare that you are going to be a candidate again? >> i try to make it able not to meddle in other people's politics. all i can say is angela merkel has been an outstanding partner and angela merkel is perhaps the only leader left among our closest allies that was there when i arrived. in some ways we are now the veterans of many challenges over the last eight years. although we have not always been
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in sync on every issue in terms of our core values, in terms of her integrity, her truthfulness, her thoughtfulness, her doing her homework, knowing her facts, her commitment to looking out for the interests of the german people first but recognizing part of good leadership on behalf of the nation requires engaging the world as a whole, participating effectively in multilateral institutions, she has been outstanding. it is up to her whether she wants to stand again and it will be up to the german people to decide what the future holds. if i were here and i were german and vote i might support her but
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i don't know whether that hurts or helps. with respect to russia my principal approach to russia has been constant since i came to office, russia is an important country. it is a military superpower. it has influenced in the region, and influence around the world. in order for us to solve many big problems around the world it is in our interest to work with russia and obtain their cooperation. i think we should all hope for a russia that is successful, where
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it's people are employed in the economy is growing and they are having good relationships with their neighbors and participating constructively on big issues like climate change. i thought a constructive relationship with russia but i have been realistic in recognizing there is a significant difference in how russia views the world and in how we view the world. the values we talked about. the values of democracy and free speech and international norms and rule of law respecting the ability of other countries to
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determine their own destiny and preserve their territorial integrity, those are not something we can set aside. on issues like ukraine, issues like syria. my hope is the president-elect coming in, takes a similar constructive approach finding areas with russia where values and interests aligned, the president-elect will stand up to russia where they are deviating with values and international norms. i don't expect the
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president-elect will follow the blueprint or approach, my hope is he does not simply take a realpolitik approach and suggest if we just cuts and deals with russia, even if it hurts people or even if it violates international norms or leaves smaller countries vulnerable or creates long-term problems in regions like syria we just do whatever is convenient at the time and that thing we will learn more about us the president-elect puts his team together. i'm encouraged by the president-elect's insistence that nato is a commitment that does not change and his full
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commitment to nato as the foundation for international security is very important. finally in terms of my conversations with vladimir putin these are conversations that took place before the election. as i indicated there has been very clear proof they had engaged in cyberattacks. it is not unique to russia. a number of states where we have seen low-level cyberattacks and industrial espionage, other behavior we think should be out of bounds, deliver a clear and forceful message that although
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we recognize russia's intelligence gathering, sometimes take place even if we don't like it there's a difference between that and the meddling with elections or going after private organizations or commercial entities, we are monitoring it carefully and we will respond appropriately if and when we see this happening. this whole area and at the international level, we need to work on, and we don't see a cyberarms race. a lot of countries have advanced capabilities and given vulnerabilities of
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infrastructure and our economies to digital platforms, we have to be careful, to make sure this doesn't become a lawless low-level battlefield and we started trying to put together some principles that were adopted in the g 20, the g-7 and at the un levels but a lot more work remains to be done on that front. >> allow me to underline that i'm impressed in spite in the united states of america, because it is it follows democratic principles, working smoothly, this is all about the american people. it is about the destiny of the american people. the outgoing administration is sharing its knowledge, its
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expertise to the incoming administration. this is a sign to us a sign of encouragement to continue good cooperation between the united states of america and federal republic of germany and that is in our mutual interest. we will continue this, i will continue this, i approach this with an open mind and i will do it on the basis of deep conviction with president-elect donald trump. secondly on russia, i can only repeat what the president said previously. this is all about respecting certain principles. and i'm saying this from a european vantage point, from a european, from a german vantage point, sorry. the fact that for over 70 years we have been able to enjoy peace, to live in peace, very much depends on territorial integrity and sovereignty of each and every european country being respected. in view of

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