tv Varney Company FOX Business December 19, 2016 9:00am-12:01pm EST
the things that-- >> thank you for that, kevin. >> i'm ringing the bell at the nasdaq and you see me going ding, ding, ding, ding. maria: congratulations. >> chrysler is unveiling the new car you spoke about earlier at cef not detroit. maria: here is stuart varney and varney and company. stuart: thank you very much endeed. this is the day the electoral college says yes to donald trump. the left says, hey, it's fa fascism and it's a political nightmare. we'll get to your money in a moment everyone. the demonstrations and harassment have reached fever pitch. in state capitals across the country, protesters gathered to per situate electoral college voters to switch side and these electoral college voters have been swamped with e-mails and harassed with phone calls and yes, there have been death threats. theres' extreme dang raj from
the left. new york times columnist paul krugman says this is how republics end. and voting day is today, donald trump will have the electoral votes he needs and the efforts to undermine his presidency will continue. you want politics, but also want to know if the dow will hit 20k. we're 157 points shy of 20,000. and "varney & company" is about to begin. ♪ >> russians clearly intervened. >> i think it was distorted by the russian intervention. >> a foreign adversary directly inconveniented into our democratic institution and tried to tilt the election to donald trump. stuart: there you have it, john podesta, that was hillary clinton's campaign chair
talking about russia hacking the dnc to help donald trump. now, here is what rieeince pre b priebus had to say. >> do you flatley deny between mr. trump, his campaign, his associates and the russians. >> even this question is insane. of course we didn't with the russians this whole thing is a spin job. what the democrats should do is look in the mirror and face the reality that they lost the election. stuart: the inference is that the russians and hagging helped donald trump-- hacking helped donald trump. lindsey graham and john mccain are joining wanting an investigation. we are going to have slightly higher opening for stocks this
morning. basically on a slow march to 20,000. we looked like we were going to get there last week, we didn't. we fell shy, 157 points shy. will we get there today or this week? well, that's why you're watching the program for. look at this headline, from the new york times opinion writer paul krugman. quote, how republics end. he's talking about the electoral college today and the win of donald trump. liz, paul krugman, i'm trying to get it right, on the night of the election, didn't he forecast and cheer on a market crash? >> yes, he said it wouldn't hit and essentially he writes a fact-free column, he's a former enron employee. he said that that--
tell us about the obama campaign. >> and hate springs eternal and says that obama supporters are full of venom about that personality and often tips into just heavy weather rhetoric without the facts. without any evidence whatsoever to support his arguments. stuart: didn't donald trump call him demented the other day? i think he did. liz: yeah he did because he essentially said-- paul krugman said donald trump would like a 9/11 attack that would pull the population behind him. donald trump said, really? i would want the deaths of thousands of americans to basically improve my base of supporters? that is tipping over into the obscene. stuart: it's just so extreme, isn't it? as the left goes up against donald trump and tried to delegitimize the president. >> the irony is paul krugman is one calling for a trillion dollar infrastructure spending back when obama first came in and he's about to get it with
president trump and he's criticizing it. stuart: welcome back to the show, adam. i want to get back to russia, reince priebus told fox news sunday that the president-elect is ready to accept the hacking report if the cia and they get on the same campaign. jeff dewitt is back with us this morning. jeff, is mr. trump going to accept that russia may have helped him in the election campaign? >> well, right now, again, nobody is going on record with definitive proof one way or the other on that. so, the first thing we're doing is waiting to see that. well, let's remember, it's kind of a misnomer who say they hacked the election, none of the voting machines were hacked. hacked was e-mail-- >> i guess the latter is inferring. the truth is that no voting machine was hacked. no vote was changed. the inference here is that the russians did hack into the
e-mail chain and podesta's e-mail chain and by doing that, helped donald trump. now, is your guy, mr. trump, is he prepared to accept that? >> well, again, that it helped us? i don't know. what's if funny is the transparency of it. hillary hasn't released 30,000 e-mails upset that the dnc e-mails got out which ironically showed that the dnc conspired to hand the election over to you her over bernie sanders. it's a twist of fate that it is the podesta e-mails. i know as coo there were a lot of things in the e-mails that wish got out to the public and i don't think that the media tried to help us get out there at all, but to say handed the election, not at all. what handed us the election was having a far superior candidate willing to work. it wasn't the russians that kept hillary clinton from campaigning wisconsin or-- >> it's not going away, is it, jeff. john mccain, lindsey graham,
republicans, they want an investigation. and it's going to be there way into january and february, probably. >> you know, it's the democrats' way to try to undermine the election and undermine what happened and make themselves feel better in a way, but all it shows, just like the podesta e-mails show, is really the democrat's contempt for the american voter. that's what we learn over and over again. the same people that said the republicans need to accept the results of the election now cannot accept the results of the election. what they're going to see today is the electoral college do its job and certify the results that happened on november 8th and donald trump is going to be the next president and he's going to do a great job as we're seeing with the cabinet picks and attitude to d.c. stuart: is this a fairly quiet time for mr. trump. he's in florida, he never takes a vacation, i understand that, but is he going object out of the public eye for the next couple weeks?
>> i know him well, he's one of the hardest workers. there isn't a quiet time for donald trump, he will find things to do, but he's excited right now and full steam ahead for getting government ready for him come january 20th and it's going to be a great time for d.c., a great time for the country, as we're seeing, it's a great time for the markets. stuart: okay, we'll get to that in a second. jeff dewitt, thank you as always for joining us. >> thank you, stuart. stuart: merry christmas. >> merry christmas. stuart: how about this? according to the center for immigration studies, there are 820,000 illegals with criminal records in this country right now. 84% of them have a felony or serious misdemeanor against them. i can't believe i'm saying this, but look who is here? that man is mark lanier, the lawyer that we hate to love, but he's back with us this morning after a long, long absence. where have you been? >> i've been trying cases this year. i spent six months in the courthouse. stuart: making a lot of money?
>> well, it's psychic income so far, it sounds good. stuart: have you been suing any of the dow 30 big name companies? >> johnson & johnson is in my sights. i've hit them for about a billion and a half so far this year. stuart: you're proud of this and appearing on a financial program. >> i'm extremely proud of this because we're going to clean up bad practices and make business ethical for all companies to compete. stuart: what a great line. you think you're talking to the jury right now. >> this is your day! . [laughter] >> 820,000 illegal migrants in the united states and they've got criminal records. you're a lawyer and the lawyers are called upon to defend these people and spin out the process. are you going to defend them? >> no, i'm not. i think we are a nation of laws, we've got to follow those laws, stuart. if we don't like the laws, it's not that we selectively enforce them, we change them. that's what democracy is. stuart: you're in texas. >> yes, sir. stuart: a lawyer. >> absolutely. stuart: do you think we are actually going to deport, arrest and deport 800,000
people? do you think we'll do it? >> i think it will be very difficult it find them to arrest them, but if we find them and we arrest them, we will deport them. stuart: is your heart in this? >> my heart is in for the criminals getting deported, absolutely. my heart is not in the hard-working people that, the people who have fled and escaped. i think we need to be a nation of refuge for certain people, but not criminals. stuart: you would draw a distinction maybe parents brought them here. >> my heart is with distinction, but the law is what the law is and you've got to change it. stuart: welcome back to the program. >> always a delight. i watch you when i'm not here. the best news shoe in america, isn't it? >> as a matter of fact, it is. you've got the next three hours. check the weather map. these are expected high temperatures, okay, not talking wind chill here, those are temperatures, expected highs.
below freezing actually across much of the country and more snow expected in parts of the pacific northwest. you're about to see some dramatic video from saturday morning. tanker crash in baltimore, interstate 9 the 5 north-south artery on the eastern seaboard. a fuel tanker skids off the road, bursts into flame and two people died in that dreadful accident. next case, china seizes one of our drones in the south china sea. donald trump's response, you can keep it. question, is this the start of a new cold war, us versus china? how about that? we're on it and there is this, actress zsa zsa gabor, married nine times, appeared in more than 60 tv shows and movies, here is a quote, i'm a marvellous housekeeper, every time i leave a man, i keep his house. [laughter] zsa zsa gabor has died. she was 99 years old.
>> more news coming out of the trump transition. liz, a nominee for the secretary of the army. >> vincent viola. and he was chair of the nymex. he came out of the 101st airborne. he's an army vet and revered in d.c. and the chairman and founder of a financial company. a former infantry officer. an interesting mix of business background, also the son of italian immigrants, grew up in brooklyn and a solid, stellar military career. stuart: i know exactly what the left will say. here is another very wealthy guy, if not a billionaire in the cabinet. liz: waiting for the headlines, bring them to you as they break. stuart: i'm waiting for that headline. i'm sure we'll get it. liz: yes, i agree. stuart: want to check out the price of gold because it took a big hit since the election came way, way down. it's at 1140 this morning, just
$2 higher. i should point out that that price, 1140 is still up 7% since the start of the year. up throughout the year, down after the election, 1140 is where it is now. now this, the obama administration pushing tougher regulations on coal mining. what's that, liz. liz: exactly type of reg that trump administration incoming has vowed to undo. they say if you strip mine near a lake or a stream you have to restore that land to its prior condition before you started digging. so, this is coming out. it's about water quality. there's no indication it will take effect. stuart: so i shouldn't look at coal stocks, going to be down this morning. liz: they are plummeting right. >> this would hit the largest coal miners in wyoming. liz: and kentucky. >> it will be held up though in court. stuart: got it. fox news is reporting that china will return the underwater drone that it seized
in the south china sea. we'll get it back tomorrow. separately, i've got a question about the relationship between russia, china, and the united states. are we beginning a new cold war where the enemy is not russia, but china? who better to answer that question than lt. colonel ralph peters, who is with us this morning. the way things seem to be shaping up, ralph. our enemy, cold war enemy, the new cold war is china not russia. what say you? >> i'd say that's nuts. stuart: oh. take me to pieces, ralph, go ahead, lad. >> it's not what you said, i'm not saying you're nuts. you're too clear to be nuts, i'd never mess with varney. it's very straight forward. china is our competitor. russia is our enemy. china wants to live off our economy build itself up, it wants gem any in the south china sea and we have conflict with china. russia wants to destroy nato,
occupy them, drive out the middle east and interfere with our election. i'm not saying they elected donald trump. they interfered in our election more than any foreign policy ever tried to do. you can believe 17 intelligence agents or kellyanne conway. stuart: do we need to tilt toward one or the other, as the way that richard nixon tilted towards china in the early 1970's. get together with china to exclude russia. should we be doing something similar now with one of either russia or china? >> no, because that approach didn't work. it's always been a myth that we had turned china against russia, russia against china. in the long-term they're enemies, but for right now we're just not good enough, diplomatically and strategically to play them against one another. we need to take them each on their own terms. we can, with firmness and
foresight, and economic leverage, deal with china. putin, even play chess with china, you've got to watch them. you can't play chess with putin every time he starts losing he upsets the chess board. putin is a-- so many of my fellow conservatives, spent decades warning against russia and all of a sudden portray putin as between santa claus and mother theresa. stuart: that's an exaggeration, no republican i know between santa claus and mother theresa. >> all right, rudolph the red-nosed reindeer. stuart: thank you. donald trump, says, hey, it's okay to be rich. if we want to be a strong country, we have to be a wealthy country. mark lanier is a very wealthy
you can handle being a mom for half an hour. i'm in all the way. is that understood? i don't know what she's up to, but it's not good. can't the world be my noodles and butter? get your mind out of the gutter. mornings are for coffee and contemplation. that was a really profound observation. you got a mean case of the detox blues. don't start a war you know you're going to lose. finally you can now find all of netflix in the same place as all your other entertainment. on xfinity x1.
>> , but to be a strong nation, we must also be a wealthy or a rich nation, but they say, mr. president-elect, it doesn't sound good when you say rich nation. i say, we have to be a rich nation if we're going to rebuild our military, if we're going to build the wall, we have to be a rich nation. if we're going to -- if we're going to repeal and replace obamacare, we have to know what we're doing and we have to be a wealthy nation again. stuart: now, isn't that interesting? it's okay to be a wealthy nation. it is okay to be rich. market lanier, attorney extraordinare, i welcome this. i think the rich, rich people successful people have been demonized for many, many years.
>> it's a pity, too. that economic desire to have what you need, to have what you can use for others. stuart: right. >> is a good desire that motivates people. look, my parents never made more than $20,000 a year in their life, but we knew as kids if we wanted to make more money, we had to develop who we are and what we were doing. that's a good fabric for society. stuart: that's the american dream. >> that's capitalism at its best. stuart: it's a meritocracy if we can get back to that all power to the incoming president, but get rid of the mentality if you've made it, successful, made money you're bad. >> the paul krugman-- >> paul krugman says the election of donald trump is the end of the republic. i won't want to face you in court. >> i'm your lawyer always.
stuart: and slightly higher for the dow industrials. if you look at the dow since the election, we have been on a tear. yeah, we've been calling it the trump rally. can we hit 20k by christmas? i'm not going to say only time will tell, but this week we'll find out. back in a minute. see me. see me. don't stare at me. see me.
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>> get this in before the market opens. news from france, christine lagarde found guilty in an arbitration case, what's this. >> christine lagarde who heads this, and the judge in the case, negligent when she was finance in france. she's not going to pay dues for the conviction, this is a world of the global elite taking a hit. stuart: a big hit. that's a very big hit. we're on it, but the dow industrials opening slightly lower, down 8 points as we speak, we're at 19,830 and small change. fractional loss. how about the s&p 500? where is that in the early going, a fractional gain? up .09. and nasdaq up .10. slightly higher. the price of oil, 51 a barrel,
barely changed and gold up, 1140 is your price. here is your news, the price of gasoline keeps going up. the national average for regular is now $2.24 per gallon and as i said, it's going up some more. joining us this monday morning, adam shapiro is with us and liz macdonald is here and scott shellady and keith fitz-gerald round out the team. i want to start with dow 20. a lot of our viewers are worried that we won't actually get there, that we're stalled. keith, reassure them. will we get there? >> i think we will. this is very psychologically important to traders, they want to cross something at that 20,000 level, but i'm convinced the real move, stuart, even if we touch it this week is going to be in 2017. stuart: what do you say, scott shellady, will we touch 20,000 soon and where to from there if we hit it? >> the problem up until now, stuart, it's been a little too manufactured. >> it's not that easiment we're going to need to see some news
that's going to drive us over the number not just to that number per se so we'll see some news and something good between now and the end of the year that will propel us up there and we'll continue with good economic numbers to stay there. right now it can't be that easy. it's too manufactured. we need a jolt of good news. >> i want to repeat the news we brought you a few seconds ago, christine lagarde who runs the imf has been found guilty in a negligence case, guilty that is. she won't face prison time, but found guilty. to adam's point, the elite taking another hit. we're less than a week to christmas and we hear that amazon drivers are saying that they're being pushed to the limit. what does that mean. liz: the story out in the l.a. times they have to deliver one package every two minutes, sometimes one every three minutes. it's nearly 300 packages that they are loading into their
trucks and so, you know, they're saying, wait a second, we're being pushed to the limit and amazon is building out its delivery network and now some people order car tires or mattresses or home gyms, they're getting delivery to their homes. that's a big deal. >> the people opposing this, these are private contractors and what's happening, labor unions are opposing the private contracting firms that deliver for amazon because they say the work rules that would go for an employee at amazon don't apply to these people who don't allegedly get breaks ap work over eight hours and don't get overtime. stuart: the next big thing for them is what, global freight trucking? >> the developing word is an uber-like app to match truck drivers with the cargo where they need to pick it up and the first time amazon disclosed we want to be a transportation services provider taking on fedex and ups in a big way, hundreds of billions of dollars
this sector every year. stuart: for delivery at a time like this. liz: this time. stuart: it's absolutely huge and that's a fact. i want to turn to the movies. "star wars," you know, "rogue one", took in 155 million in the u.s. and canada just over the weekend. the details. >> that's correct, lord varney. $155 million dollars. the movie did well, not quite as well as globally. under under the 300 million they thought globally and opened only in japan, and south korea-- >> not in china. >> much better received and a much darker story and this is disney really just exploiting the "star wars" franchise and "star wars" diehards, they like this film, but real sci-fi people go for "star trek." stuart: the stock has gone up to 105, 106 a share. >> cha-ching disney. stuart: not very much change on the big board. we don't lack enthusiasm or
excitement, but we're up 9 points, 19,852. now this, google's self-driving project, it's called wamo, adding 100 self-driving chrysler minivans to its fleet. i've been driving chrysler minivans for about 30 years. good stuff. blackberry, remember them, getting in the self-driving car business itself. so we hear. it's not helping the stock which is dead flat. ups and fedex very much in the news, they are hiring thousands of new workers and hoping new facilities and they've got to handle the on-line shopping surge. what's going on, nicole? nicole: as more and more retailers are offering free shipping, no one goes to the stores. more and more free shipping, they're seeing a record so far. the stocks are mixed and fedex is to the down side and ups gaining slightly. you hit it on the head and ups hiring 95,000 temporary workers and fedex 50,000 and this is to
get through the busy holiday shopping season. and drivers and package handlers and others, you mentioned what we saw with amazon, developing an app to track the packages and put the trucks together and know your packages. it's the battle of the shippers, number one and two, ups and fedex. they hold the top spots. new facilities hiring and make it through the holiday season. you may remember one year, they had a debacle, they missed it altogether and they've been preparing for months not to mess this up going up to the holidays. stuart: i believe there's an enormous surge in just deliveries this holiday season. nicole: can i give you the number, 30 million packages a day are expected next week. and that's about double the 16 million normally delivered in the 24 hour period. i don't know, we were saying per minute, for amazon, they've got to toss these things at your door and get the heck going. stuart: that's incredible. i tell you. 30 million deliveries a day for ups. 30 million?
>> remember, we went to ups, it's phenomenal and god help amazon if they try to move on that. stuart: we are going to get some numbers from you in a second, bricks and mortar sale versus on-line sales in a second. i want to go to nintendo, they were going to put-- they did put super mario on your iphone apparently it's not going well. liz: it costs money. the app costs money and users don't like that, they want the games for free. this is going to be nintendo's big push for games on mobile devices, remember the nintendo came out and made a big splash at a football event. so, this is not good for nintendo now under pressure down 4%. stuart: now, i want to get to the numbers. we've got six shopping days to go until christmas and the number of on-line sales ap deliveries, right, adam? >> this is great. through december 16th. you know, the majority of money has been spent for that period, on-line, and it's really quite fascinating, something like 108 million people said they
shopped on-line compared with 99 million who said they had done that in stores. now, that was black friday and cyber monday. the amount of money spent through december 13th, 66.9 billion on-line which is an 8% leap over last year. >> what about bricks and mortar retailers, with an on-line selling season like this? it's got to be pretty dark for them shall the outlook, right? >> well, i would think so, stuart, not only dark for them, but dark for every one of the property companies that lease to these guys. incredible statistic like 50% of the shopping malls that we presently go to are going to be dark in the next decade. that's staggering for the u.s. economy. stuart: say that again? 50% of the shopping malls will go dark, basically out of business, in the next ten years? that's true, right? >> i saw this, i'm trying like crazy to remember the reference where i saw it, i saw over 50% within the next ten years, shopping malls repurposed,
maybe condominiums, torn down or made into communities. i don't know, they've got a serious retail problem here. stuart: scott, come into this, please, the battle between on-line selling and bricks and mortar. i didn't see it swaying so far towards on-line selling this year as it has? did you? >> well, yeah, i haven't been in a store in a long time, number one. number two, stuart, this remind me about the vcr versus the cinema. the cinemas are still here because they changed the whole experience. it's a totally different thing now than sitting at home and a lot of people like to go out. we need to see if the retailers in the mall change the experience. they haven't done anything, it still looks likes what it was when i was in high school. we need to see that or keith is right, they'll go black. stuart: and seeking returns of payments with interest if president-elect trump blocks
the boeing deal. >> boeing has a deal, if the trump administration says, no, boeing, you can't do this deal for 80 jets, then iran says then we want our down payment. 200 million plus, but with interest as well. the companies ponying up the interest? the problem for iran the g.o.p. is saying iran can use the jets to ferry fighters or military equipment to terrorists around the world and iran is saying, no, no, we want to be an international transportation hub and the problem for iran on the deal, quickly, the banks are saying whoa, look at the trump administration coming in and iran needs bank financing to complete the deals and the banks could pull out and iran may not get the jets even though airbus is stepping in. stuart: that's interesting. want to talk interest rates, we sometimes neglect that when we're covering the stock market, but interest rates are indeed rising. i want to go to keith and scott. what impact on the stock market as interest rates go up? what do you say, keith? >> i think it's going to be
negligible if team yellen sticks to the slowest normalization in history. she's already rendered herself irrelevant so she's just got to jawbone this to death. as long as it's not a volcker torpedo like in the '70s, it will be fine. stuart: what do you say about interest rates, scott? 2.5, 2.6 is the yield on the 10-year treasury. going higher than that fairly soon, do you think? >> well, i think keith is right. it's going to be very slow, number one. number two, we have to be careful what they actually say they're going to do. remember, there was going to be four this year so i guess we're x supposed to expect three more between now and the end of the year in january. yes, they're going up slowly. but the deal, if trump delivers tax cuts like he says he's going to, it won't matter. if we get tax cuts, they can raise rates and it's not going to matter. stuart: thank you for joining us this monday morning and appreciate you being here. good stuff. now, look at the big board, i don't think we've got any momentum going at this point.
although we are up 20 points. we all tuned in first thing monday morning, are we going to get to 20,000 today? well, we are up a little, but we're still about 135 points away from dow 20,000. donald trump's cabinet still taking shape. one big post still needs to be filled and that post is the head of the veterans affairs department. we are on it. also, donald trump's inauguration less than a month away. at the top of the list, repealing and replacing obamacare. and then there's attorney general loretta lynch, she says she regrets her tarmac meeting with bill clinton, that the reaction to that meeting was painful to her. ♪
>> we're looking a little higher, 38 points up, now, 19,882. quick look at deutsche bank. the settlement with the justice department, i mean, it could come as early as wednesday. this bank is set to pay less than the 14 billion dollars originally reported in september. if they had to pay $14 billion they're bust, it's less than that. the stock is down only a fraction. president-elect says he hasn't yet named a secretary of veterans affairs and our next guest may be the kind of person who could fill the job. he's a surgeon, he's an executive and he did meet with mr. trump last week. come on in, the cleveland clinic ceo and president, that is dr. toby costco. did you talk about the va can i ask that.
we lost our guest, it's called an ifb, he can't hear what i'm saying and we'll get it going and when we do, we'll bring in the ceo of the cleveland clinic, a prestigious organization. right now the dow industrial is up 50 points, by the way, that's a nice gain. we opened fractionally higher and now we're up 50. what have you got for us, lizzie. liz: the finalists were going to be scott brown and pete hitset. and the story with loretta lynch has to do with the bias and the problems at department of justice. stuart: okay, now she says that her meeting on the tarmac-- this is the attorney general of the united states. the meeting with bill clinton, shortly before her department passed judgment on bill clinton's spouse was a mistake? >> she says, yes, i regret it,
you're right it came before the fbi director announced the findings of the probe into the servers. but it drew loretta lynch into the campaign and cast shade on the doj as being partial, as being biased towards the clintons when that happened. by the way that tarmac was cleared and the question is did loretta lynch know. >> it was the airport and former president clinton's plane was there for three hours. liz: how did she feel first when she was told he was coming in. stuart: i want to get back to cleveland clinic ceo. i know you talked to president-elect trump, i don't
suppose you can tell me what you talked about, whether you got the job or-- >> no, i can't. i-- >> you would be perfect for the job. >> that's flattering. i think the va needs great leadership and we have to rethink how we best look after our veterans which clearly need great care. stuart: when you say rethink how we take care of our veterans, would that include vouchers of almost a private system? here is a voucher, go to the best place that you want to go to. would you approve of that? >> well, i think that there's a number of options that we need to provide for our veterans. many of them are not in locations where there are veterans facilities to look after them and i think we have to have other ways to do that. the veterans administration, the hospital care was a whole system of care that was really conceived after the civil war. there have been a number of
attempts to reform this and to change it and most recently, the commission on care looked at this very carefully and made a whole series of recommendations to congress. stuart: what we're all interested in is moving away from a large government bureaucracy that takes care of veterans. do you think it's possible to move to a system where private enterprise, private choice plays a role? would you be in favor of that? >> oh, i think it's perfectly possible to do that. i think that there's going to-- something that has to take place and be thought through over a long period of time and it's going to take congress to approve this and it's a very hot political topic with a lot of people entering into the very-- very vocally into the decision making. stuart: can i ask how long you think it would take to repeal and replace obamacare? because there's a lot of talk that that is the first order of priority for the incoming administration. a lot of talk that they're
going to do it just like that. is it possible. can they do it fast? >> i think they can have the vote on it. the real question is when it actually-- the repeal actually takes place and what the substitute for that is. and i think there are a couple of factors that have to go into this. in terms of when it actually will go into place being that you're going to have to look after the biggest piece-- the biggest industry in the united states and change its direction in a major way and that is going to -- and you also don't want to leave a lot of people uncovered. the second portion of this is what's the plan to replace it? and i don't think there's a general concensus amongst the republicans at this point what you replace it with and that probably will take some time. so, i think it's probably going to take two to more years before you see major changes and in this particular piece of legislation. stuart: that leaves a lot of people high and dry, actually for a couple of years, but that's--
we've got to take care of them. dr. toby cosgrove, we appreciate you being with us. >> my pleasure. stuart: a quick look at the dow, a gain of 40, 45 points. a lot of green on the left-hand side of your screen. the market is up, but it doesn't look like we've got huge momentum going towards 20,000. >> the volume on friday. stuart: we're watching for it, folks, believe me we're watching it. we'll be back in a moment. ...at t. rowe price... ...we've helped our investors stay confident for over 75 years. call us or your advisor. t. rowe price. invest with confidence. (snap) achoo! (snap) achoo! achoo! (snap) (snap) achoo! achoo! feel a cold coming on? zicam cold remedy nasal swabs shorten colds with a snap, and reduce symptom severity by 45%. shorten your cold with a snap, with zicam.
>> amazon and its issues. it's up $6 today, after all, the on-line selling season is upon us and they're doing well with that. 763 that's $90 below the high. >> it was up over 800. be careful with amazon, they're looking at driverless trucking and shipping and moving against fedex and ups. and president-elect trump says maybe we ought to look at that. a great company but face some battles. stuart: that's the back drop. we've got news from the trump transition, who is in. liz: it's a billionaire, it's vincent viola, he is the owner
of the florida hockey team, the florida panthers. he basically founded the high speed frequency trading firm. stuart: that is fascinating, a veteran of the army, a business guy. liz: that's correct. stuart: a successful entrepreneur, he fits the mold of organizing a huge bureaucracy and making it more efficient. liz: a west point grad and served in the 101st airborne and paid for the combatting terrorism center at west point as well. stuart: that's interesting. good stuff. thanks, liz. liz: sure. stuart: check that big board. we're up not that much. 40 points higher. the dow is 19,882. first lady michelle obama on donald trump, we're feeling what not having hope feels like. you'll have my take on that in a moment.
stuart: the democrats are leaving but not going quietly. first lady michelle bald told oklahoma a winfrey, quote, we are feeling what not having hope feels like. there is a slam and it's a play on the hope the obama team promised 8 years ago. she believes hope is lost. it's hard to imagine any other first lady saying that. john podesta who chaired hillary clinton's campaign said the russians intervened deliberately to helpful. jennifer. merry said at harvard that donald trump was offered a white supremacist platform and that's why he won. in other cases the lose be side
would go away, lick their wounds and try to figure stout what happened. but the lose be side is horrified and can't wait to undermine the new president. small krugman said, paul krugman he said spells the ends of the rum. what we are look at is a an he tempt to make mr. trump's win look illegitimate. the no hope statement cuts into america's morale. the sniping is meant to cut into trump's authority. being distraught over an election loss is no reason to run down our country or our next
president. the second hour of varne "varned company" is about to begin. [♪] stuart: good voice. smooth. christmas music on a monday morning to get you in the spirit. of course, we are on do you 20,000 watch. we are close. leave it at that. michelle obama says americans feel like there is no hope after in trump won the election. roll that tape. >> everything the election, was all about hope. do you think this administration achieved that? >> yes, i do. because we feel the difference now. now we are feeling what not having hope feels like.
stuart: in trump respond on his thank you tour like this. >> michelle obama said yesterday there is no hope. but i assume she was talking about the past, not the future. i actually think she made that statement not meaning the way it came out. i met with president obama and michelle obama in the white house, my wife was there, she could not have been nicer. stuart: city was shocked when i heard the first lady say that. >> i wasn't. if you look at the history of michelle obama. look at her days going back to chicago and her collegiate days. it's not ill conceived, it's not an off-the-cuff statement. oprah's question matters. trump was even more gracious than i was on fox news over the weekends.
this always defined attack to solidify their baines delegitimize trump. it's pure poll sticks from their ideological belief. stuart: i keep hearing michelle obama will run four years from now. >> i say she won't win. one, she is not qualified. when you look at the platform for the liberal progressives and the socialists in this country, they have been rejected at the state level. we continue to grow in the house, and now we have if the senate by a slim margin. it's the policies that have lost. hillary didn't lose the election, she was just a figure head. it's insulting. donald trump has been gracious about his talks with barack obama. fort myer.
then he turns around and stabs his presidency in the back. we have a died in the wool * ideologue who has shown her true colors. liz: in 2008 michelle obama said for the first time in my life i'm proud of my country.rt: hilt would be horrifying if mr. trump did not accept the election results. >> did any of you see the debates that i had with done? in that last debate he said something truly horrifying, and that was that he wouldn't say he would accept the results of the election. stuart: that's not accepting the results of the election would be horrifying. now we have reports of republican electoral college
electors being harassed big time to change their vote. >> in michigan and arizona the electors have said they have been harassed, they have been followed, they have been receiving thousands upon thousands of letters, some with death threats. if if you are supposed to be casting your electoral college vote for donald trump they are trying to get them to kals it for hillary clinton or someone else. that's hate mail by someone who will be a guest on our program later from florida? >> that's michigan. stuart: that's from florida. >> we had a guest on last week from michigan. they get thousands upon thousands of letters designed to harass and pressure them to vote
against the will of the people in their state. stuart: this is what hillary clinton found horrifying before the election. not accepting the results of the election. the green party's jill stein. she raised $7 million. but nearlies a million was spent on consultants. liz: the word is out the jill stein spree count campaign is basically seen as a money grubbing campaign to line the pockets of staffers. jill stein siphoned votes away from hillary. >> i said from the beginning it was a farce based on where they went, the states they went to. this fist what the green party has done in england.
they siphon the money off and use it for their own small purposes. stuart: china steals the u.s. drone that was in the south china sea. mr. trump tweets, you can keep it. he said we should tell china we don't want the drone they stole back. let them keep it. you said this was an act of war. now mr. trump tweets, keep it. that seems like a rather strange response. >> i think what the president-elect is trying to do is say to china we are not going to give you the bargaining chip you wanted. we have seen from china-linked academics in state media talk about how china is trying to use the return of the drone as
reference to get the u.s. out of the south china sea. he's saying we are not going to give you that leverage. stuart: they will pick that drone to pieces, take it inside and out. >> they promised back tomorrow which would be day five after the seize our. they knew what they were doing. they followed the navy reconnaissance vessel. they were told over the bridge-to-bridge radio, this is ours, stay away from it. the chinese took it nonetheless. i think what trump was trying to do is say like it's not just the return of the drone. we need to improve costs on china to prevent this from happening. this incident didn't put out crew into harm's way, but other incidents have in march and may
of 2009 in the south china sea. stuart: they probably got inside that drone and found out all the technology. >> they know what's tonight. this is a commercial off-the-shelf drone. but what's important is the data they picked up, and that's important for submarines. stuart: spain is now holding one of the biggest lotteries in the world. it's called el gordo. the jackpot is $2.5 billion. can you believe that? if you win, the government will take a 20% cut.
>> i wonder if jill stein is going to play. stuart: more than half of voters say the economy will improve under the next year under donald trump. that's hope. zsa zsa gabor has died. she was born in hungary. she made the famous quote, i never hated a man enough to give him his diamonds back. >> what they wanted is a glimpse of my broken heart. ♪ ♪ ♪
that price is a 7-month high. the bank of america likes it. a new "star wars" movie "rogue one" just dame out. the public likes it. in venezuela, the ongoing story of flat-out collapse. here is a twist. they are getting rid of some of the cash. i guess it's because it has no value. liz: they say there was mafia. but when they pulled that, protests broke out. more than 300 people arrested. a 14-year-old bay shot. people are saying we don't even have cash to buy food. this is vigilante justice in venezuela. stuart: it's the collapse of socialist venezuela.
liz: yes, and they blame everything but their own socialism. stuart: you a continue -- austin, tell me about growth. it's my opinion that within the next two years if we get huge tax cuts as mr. trump wants, and if we get significant government spend on infrastructure and/or the military, i think we'll get 3% to 4% growth. i say 4% if we do all that. what say you? >> i say you and your magic beanstalk beans are not being realistic. i think the republican congress will be remarkably more amenable to cutting taxes under a republican president than they
were under a democratic president. but the fed looked at that when the fed made its decision to raise rates. and they upped their forecast for next year by 1/10 of a%. i don't knowy where you got 4%. stuart: if you cut tax for individuals you put money into the economy fairly quickly. you cut tax rates for corporations, you put a lot of money into the economy. you spend on infrastructure and the military, you are juicing the economy. >> stuart, i love hearing your deficit spending based growth hypothesis, i think in the last 7 years under president obama we added 15 million jobs. stuart: what's wrong with look
at the future? are we going to get 4% growth if donald trump does all he says he's going to do. >> as donald trump said himself, he said it's all about three words, and all three of the words were jobs. let's put it in perspective. we have been adding 3.5 million jobs a year form 7 years. 96% of that expansion is full-time jobs. stuart: where did you hear that from? >> from the bureau of labor statistics. stuart: that's not way got in the last jobs report. we are getting nowhere. do you say that massive stimulus from tax cuts and government
spending will not create 4% growth? is that your point? >> yes, that is my conception for two reasons. number one, the fed is going to rightfully be concerned if you try to juice things too much, it will be inflationary, so they will counteract it. number two, i don't think the stimulus effect of cutting tax rates for billionaires and corporations and replacing it with a national sales tax model based on the vat, i don't think it will can that stimulative. as we say on occasion, only time will tell, and i guess it will. austin, come on back and let us know. we are getting close to 19,900 again in the markets. some stocks are up.
stuart: gasoline keeps going up. we are at $2.24 nationwide. stuart: students stat university of virginia signed fake petition banning christmas. tie know personally like our -- when they see christmas trees and the lights it can be a little bit triggering. we are just trying to make campus a safe space it's furthering that type of oppression. stuart: i don't think that was a legitimate petition. all the talk was done by the interests viewer.
>> they are being punked. most likely their tuition is the biggest christmas gift they get from their parents and they don't understand this. you have been punked. ashley: your right to celebrate something is not an insult to the rest of the population. these kids might have good intentions and don't want people to feel uncomfortable. but the celebrating a religious holiday is not an insult to people who are not of that religion. stuart: we pander to sensitivity. >> they should sing cripple carols while asking the questions. stuart: there are reports 820,000 illegals are in america with criminal records.
mr. trump says deport them. arizona paul babeau next on that. a deer breaks into a golds gym. people are work out on the floor. he jumped over them and runs back out again. no consequence whatsoever. rry, [♪] i won't let this accomplishment go to my head. i'm still the same old gary. wait, you forgot your french dictionary. oh, mucho gracias. get help on options trading with thinkorswim, only at td ameritrade.
g new cars. you're smart. you already knew that. but it's also great for finding the perfect used car. you'll see what a fair price is, and you can connect with a truecar certified dealer. now you're even smarter. this is truecar. stuart: a noddest gain holding it, 19,889 is where we are. google's self-driving car division is getting into mini vans.
that will be the chrysler minivan of which i have driven many. will we turn it into a self-driving car? >> they already tested this thing but they have a long way to go before they start riding in it. >> it many the pacific today now snps he tests these things -- they tested these things. adam: there are a lot of different companies doing this. stuart: how long before i get into one? adam: the question stuart is asking, i think you will see them in five years. stuart: we'll all be seeing them somewhere in america. the mainstream america still complaining about will trump's win and criticizing the electoral college process.
>> it seems people are still holding out hope that the electoral college when they vote tomorrow will somehow miraculously decide hillary clinton is the winner. >> there is a glimmer of hope on the constitution. stuart: howard, welcome to the program, good to see you again. it doesn't look like the media will let go of this. i'm surprised how farther pushing it. >> this is the biggest non-story i have seen in a long time. i was determined to not write about it. a column any of the came out and urged the electors to go rogue. imagine if this had been on the other side and trump diehard were telling the electoral college to overturn the election. it would amount to a crop up.
-- amount to a coup. stuart: i want to move on to paul crewingman. he's the liberal "new york times" columnist. he has been tweeting about president-elect trump. thought, there was rightly a cloud of i will legitimacy over bush dispels wrongly by 9/11 that created interesting incentives to mr. trump. trump respond. he called krugman dements. that's why the "times" is failing. they will change no matter what you do. stuart: mr. krugman's opinion
piece today is called how rubs end. he's a nobel prize winning column tonight. he has a big following on the left. and he was a critic of president bush. talking about the fall of rome. it seems like he and others are suffering from trump trauma. they are so traumatized by the election of mr. trump they have lost all reality. i guess what surprises me is not many people in the media, including some on the right fighting trump for 18 months are upset about this election. i get that. but it's been more than a month now and it would seem they haven't gone the on it and are going to do everything to fight trump. if they don't agree what donald
trump does as president, fine. kick him around. that's what we do in the american press. but joy behar saying he suffers from mental illness. it underscores why so many people are angry at the press. they never give him a fair shake and even now are in denial. stuart: it's been an astonishing year. have you ever seen a year in the media like this? i haven't. >> i haven't seen the media lose so much confidence of so many people. i have never seen a politician who denounces journalists by name. i don't think he's well-served by continuing to bash the media on twitter. but i asked kellyanne conway about this yesterday, and she says this is a tool he will continue to use to communicate
with his followers to gin up his base and pressure congress when he gets into the tough slog of legislation once he gets into the white house. stuart: thank you as always for joining us. merry christmas. next case, you report. 820,000 criminal illegal immigrants live currently in america. mr. trump is discussing it on his thank you tour. roll the tape. >> people that come into the country illegally, people that come into the country and cause problems. they are taking care of better than our vets in many cases. so, yeah -- time to take care of our vets.
[crowd chants "build that wall"] >> don't worry. we are going to weld the wall. don't even think about it. stuart: sheriff paul babeau knows what he's talking about when he talks about illegal criminal immigrants. >> this couldn't and greater christmas present not just for the people of arizona, but for all americans and those of us in serve in law enforcement. law and order is about to be restored when we have 80,000 criminals, 84% of them are convicted felons, these are dangerous criminals. stuart: i'm wondering about the mechanics. 800,000 people have could be contacted, captured and take and across the border.
that's a gigantic undertaking and won't be done very quickly surely. >> the whole world is about to be turned up on its head. what we have had under barack obama, he literally has handcuffed us in law enforcement, shouting down the american people for wanting us to enforce the now law. now we are going to target not basic illegals who are here, but the ones with criminal record. there are some say as high as 2 million as president-elect trump has pointed out. and we'll put safety of american citizens in our country first for once, and not people from foreign countries who have broken our law and disrespect our country. they are going to be deported out of america for good. stuart: if they get a lawyer, it will take a generation to get them out of the country. but that's another story entirely.
in a fox poll, 59% of the american people said they don't think trump will build the wall. do people in arizona believe he will or will not build the wall. >> it's going to happen. i take president-elect trump at his word. this is a successful not just a businessman, but everything he said he was going to do in his campaign, he did. those doubters, guess what, we'll have the wall, we'll have border security. and we'll enforce the law. those who think we can't deport almost a million criminals, put your seat belt on. it's about to happen. stuart: last time we talked there was no obamacare exchange that would serve the people of your county in 207. will you update us on this? >> blue cross, blue shield because of great monies coming
in from the federal government subsidies, 50%, 60%, but that's not a free market. stuart: i want to bring in breaking news from europe. the imf chief has been found guilty in an arbitration case. adam: the judge said there is no need. this happened when she was the finance minister of france years ago and she did not stop a payment to a french billionaire. this is the woman who replaced dominique strauss-kahn. she relaced him at the imf. does she stay at the imf? stuart: it taints the imf which is a huge financial institution
around the world. adam: they have had deal wisconsin greece and italy. here is an example of one of the he let running the world getting slapped. stuart: nintendo, their super mario run game is suppose to go on the iphone. by the am not going very well. and nintendo is down. reporter: it's down again, extending its five days of losses. while it has been purchased on the app store for am and moved to the top spot. the reviews are lukewarm at best. 2.5 stars out of 5 stars. there is a look at the game. but the big picture is it's not going to generate the revenue. the clincher, after the third level, you will have to pay $10
to continue on the game. nobody likes that. on pokemon go you were paying on small purchases along the way. but it will pale in comparison to pokemon go. stuart: the electoral college votes today in the 11:00 hour one electoral college member says despite all the hates mail and threats he will still cast his ballot for trump. in haik. the volcano erupting -- in mexico the colima volcano erupting today.
stuart: "rogue one" from disney premiered over the weekend and did well. a bipartisan call for an investigation to russian hacking. congressman king calls it a way to try to delegitimize president trump. >> we have leaks of information they are not telling the intelligence community. they were invited in to took you
the commit eat and they refused to come. there should be an investigation of john brennan and the hit jobe seems to be soccer straighting against the president atlantic. stuart: are you on board with an investigation of what the russians did and the effect of what the russians did during the campaign? >> i think peter king was spot on. but i do think we should do an investigation. we should know what kinds of influence the russians tried to have. but the problem with what the democrats are doing is they are trying to conflate the two and said russia tried to have involvement and did have an impact on the outcome of this election. you see john podesta yieg his hair on fire. hillary clinton trying to divert attention from the fact that she ran bad race. the russians had no impact. the john podesta emails and the
dnc emails had no impact on the decision voters made when they went to the ballot box. str. stuart: you can't say it had no impact. the russians into the dnc stuff taint was negative and had an impact on the election. >> i sit in the midland of wisconsin. one of the swing states. no one cared the dnc was favoring hillary clinton or bernie sanders. we knew that without the email release. everybody already knew that. what drove people was the fact that she had a private server and her emails could jeopardize national security. they were concern about the clinton foundation and pay-for-play and her basic honesty. those are the issues we knew
about without the email leaks from john podesta or the dnc. stu there are john mccain and senator lindsey graham, they want a full investigation. >> there are two different things, stuart. having an investigation to look at what russia did in an attempt to influence our election is different than saying wrush had an impact on the election. i want to know what they tried to do. but i come at this from a swing state temperature and know it didn't have an impact on the voters voting republican for the first time since 1984. stuart: pope francis celebrating his 80th birthday. he had fresh fast with homeless people. he received 70,000 email
messages wishing him a happy birthday. 20,000 on the dow within reach maybe? mr. trump says it is okay to be rich again. watch this from steve more, trump's economic advisor. >> i'm going to make a confession to you. don't spread this around. i like rich people. people who are rich and successful helped the built this company. there has been a demonization of entrepreneurs and people who are successful. most americans don't agree with that. most americans admire rich people. we want to be more like them.
stuart: if you are a viewer of this program you know we have extensive discussions about guns. a lot of people take umbrage with some of the opinions i have specialed about gun. this comment came in from mark. you need to educate yourself on the issues of tending the use of firearms. your comments demonstrated complete lack of knowledge of how firearms operate and how
trained people use them. by the way, i was referring to the guns ahearing in daycare centers. there is such a move in the state of ohio. we have this from paul. he says no, stuart, you don't get it at all. your notion of lock up guns from a separate place of ammunition might prevent your spoiled child from accidental shooting, by the won't help you in a situation. clearly you take issue with my point of view. my point of view is i have some trouble with guns in daycare centers. you have some trouble with that point much view?
liz: it's not a strict black and white issues. children do look for car keys. so it puts the child at risk of picking up a gun. i hear what they are saying, they want to protect children by having trained individuals hold the firearm. so then there is the question, why not have guns on military bases. adam: i'm not comfortable with guns in daycare centers. stuart: i have problems with guns around young children. it has to do with being a parent a and having grandchildren. we'll have more on this later in the show.
in this hour at your going to need a chump electorate is besieged and threatened right there on your screen is all the hate mail that is just one elect or has received. it's happened all across the country. an attempt to steal the election. but when it comes to intimidati, no one compares to "the new york times" columnist, paul krugman. it is the end of the republic.
trump is a fascist he says. he is also a enron analyst. the left knows that electors will put mr. trump in the white house did they know that, but they don't care. what they want is to raise doubt. doubt about legitimacy of trumps when in doubt about his character. that is undermining democracy and that is truly horrifying. one last point. election night as it became clear trump had won a massive 800-point loss was expected for the dow industrial average. paul krugman was cheering on the loss. she wanted a crash. a first pass answer might be not fair. professor krugman, spec tack clearly wrong again. the third hour of "varney & company" is about to begin.
>> he said something that i found horrifying. he refused to say that he would respect the outcome of this election. >> in that last debate he said something that was truly horrifying. he refused to say he would respect the results of this election. >> in the last debate, he said something truly horrifying. and that was that he wouldn't say he would accept the results of the election. trade to dallas hillary clinton man. harrisburg, pennsylvania blocking traffic. police moving in there. i believe this is the electoral college vote. harrisburg is the state capital of pennsylvania. the electors will vote there. they are interfering with democracy. we will have more on this in a moment. that is happening now. check the big board.
we are at 20,000. 90 points away. 63-point gain -- 66-point gain. microsoft is a brand-new all-time high. i love to see it. they did keep the trumpets. special requests are not good. adam, liz, 20,000 by christmas. >> i will say now that we wanted 20,000 by christmas. e tribe rally is real and there's momentum and people are domestic in my question is about earnings going forward. a strong dollar sounds like a good idea. they will be a pullback and i don't think anybody disagrees with that. it's going to be a show me the money commission amid earnings.
looking at disney appeared united technology hitting highs right now, trading up. stuart: don't forget microsoft taken an all-time high. strangely you think i want to pay the tax? back to my take, which was at the top of the hour. the electoral college today, got it. fred barnes from the weekly standard. i think that these protesters come in the people harassing the electors, they are undermining democracy. >> of course they are. their position is that the electors should note that it should be delayed. this effort all across the country with the lectures everywhere and the gathering age state is designed to delay things and ultimately overturned the results of the election. they don't have the evidence to do it now.
this is just the first thing. remember the campaign manager for hillary clinton, john podesta who said we have to have intelligence briefings before all the elect are his. i would take a long time in all 50 states. this is an unprecedented effort. stuart: suppose it was the other way around. trump supporters were saying change your vote. the establishment media would be an appletalk deck against the trunk people appeared on the left-hand side of your screen right now you probably can't see but harrisburg, pennsylvania, blocking traffic is outrageous. >> of course it is. hillary clinton when donald trump's ad saying after donald trump is that i don't know whether i'll accept the results are not said how horrible that was. now the campaign manager and
other democrats in the last are not accepting the results of the election. and she's silent. stuart: g wrote a piece, the headline read learn from his mistakes. trump could benefit by working with democrats. why don't you spell that out. >> look, if there's an huge issue that affects people around the country, you need to make it bipartisan. that was a mistake. why has obamacare been looked at so unfavorably and criticize so much for the past eight years. there was no effort to recruit republicans with compromise with them. they were put together secretly and harry reid's office. >> he's not doing it. he's talking to the left strictly conservatives. >> years.
frankly i've been surprised. when you go to obamacare and republicans want to replace it with something. i think they need for democratic cow. some democrats have talked about joining with republicans. they don't need to be huge ones, but you have to make some kind of fashion. and if you do, what ends the argument over things like obamacare? compromise does and the know-how to health care system double last forever without attempt to repeal it. >> good thinking, fred is it thank you for being with us. you make a good case they are. you really do. let's get to the market because i'm going to check bank stocks. these are the stocks that have made the running since the election. some have gone straight out. goldman sachs in particular. look at deutsche bank.
there are reports that its settlement with the justice department could come wednesday and will be last than the $14 billion that was originally reported. come on in. as we always say come and the only analyst who ever appears on this program because he's right and it goes straight at it. you then the supporter thinks stocks right from the get go. you're the one who said they were can i go straight out. you're the one who's right. which banks have further to go? do you have a couple in mind? >> i think you mentioned wanting goldman sachs at the outset. the world is now moved in the direction of goldman sachs after 10 years of the arena. what you are going to cs verse all of this in terms of what's going on with currencies and interest rates will force corporations around the world to rebalance their balance sheets and i will result in a significant increase in trading.
the increase in the value of common stocks in general will stimulate a lot of common equity next year, both secondary and ipos. you'll see corporations making more mergers. all of this is a goldman sachs says. two or three years of very good ahead of it. >> you picked goldman sachs and i know about that and it's got more room to grow further. bank of america, city and jpmorgan. you think all three of those stocks have some way to go still on the upside. >> yeah, the first thing you have to notice is that the senate will repatriate a couple dollars. all of that's going to wind up as deposit somewhere in some bank in the united states and most remakes are going to get the bigger share along with wells fargo. they look at the bigger share of those deposits. what are they going to do with
those deposits? talking about rebuilding manufacturing capability in the united states. perhaps some fiscal stimulus. that will require an enormous amount of bank lending to the deposit will be there come of bank funds will be made to interest laws will be a tiny bit higher so the margins will be better. i think what we are looking for in each one of these companies is a surge in earnings. this weekend in 22017, analysts all over the country are going to be raising for these companies plus of course they have a pretty big capital market industry also. tree into dick bove come in thank you for being with us. you've been right so far. we will be back. good stuff. today is the day that the electoral college voters though. you're getting a live look at harrisburg, pennsylvania. the protesters blocking the street. one of the most closely divided
states i guess you could say. we will hear from an electorate in florida later this hour whose been harassed and threatened. they wanted to change that though. donald trump says it's okay to be rich if we want to be a strong country. we have to be a rich nation. next, a patriotic millionaire who disagrees with trump's tax land. i'll challenge him. listen. ♪ this is your daughter. and she just got this. ooh boy. but, you've got hum. so you can set this. and if she drives like this, you can tell her to drive more like this. because you'll get this. you can even set boundaries for so if she should be here, but instead goes here, here, or here. you'll know. so don't worry, mom.
fixodent plus adhesives. there's a denture adhesive that holds strong until evening. just one application gives you superior hold even at the end of the day fixodent. strong more like natural teeth. >> went to be a strong nation, we must also be a well be up for a rich nation. mr. president-elect, it doesn't
sound good when you say rich nation. i say we have to be a rich nation if we are going to rebuild our military, if we are going to build a wall, we have to be a rich nation. if we are going to repeal and replace obamacare, we have two now what were doing. and we have to be a wealthy nation again. ! it's important that we are rich again. look is with us now. the chair is true millionaires. correct, sir? you're part of a group of wealthy people and you don't want tax cuts. is that correct? >> i disagree with mr. trump. you don't want tax cuts? >> no, i don't. not for the rich people.
>> you don't anguish of tax cuts at all? >> i think the poorest among us, the people who make lower income tax scales. the people of higher income should pay more taxes. >> i live in new york city at the moment. i pay a 61% tax. when you factor in federal, state and city taxes, ip 61 cents on the dollar in income taxes. i think that's way too much. would he think they should pay? >> i think you should pay a higher rate. i don't think you should pay less either. you live in the greatest city in the world. >> it's flat-out immoral for any government to take my than half of an immense income. >> you should live in alabama instead. >> cannot see why i should pay 61%. let's put that on the side for a
second. you're a wealthy guy. you make a lot of money. are you going to give back the tax cut? >> i will pay taxes. i retired a few years ago to do policy were to help you both all time. train do you not care about people like me who work for a living and pay 61%. >> i do feel very sorry for you. i feel you live in the greatest city in the world because there is a reason you didn't hear. >> what about other people in their millionaimillionai re group, people who earn $5 million a year, whatever it is. will they give back money they are going to get extra because of the tax cut? >> most of the people in my group spend their money on philanthropic causes and do a good job trained to help their country be a better country. we are trying -- >> up the tab that is so that wealthy people, why don't wealthy people get it back?
>> would've been a nation that was founded as commonwealth. we have to do thanks to a commonwealth in common good. >> i understand that taxation is all about. will they give it back? everyone pays taxes as the law requires that we have to change the system. >> if it's so bad, rich people don't need all this money. isn't there a moral imperative, shouldn't take it. >> we have a new scene are powers to try to change the names of those who are wealthier pay more. we don't want to race to the bottom. donald trump wants to make america more like ireland to match other countries. stimulating the economy like other countries have made other countries go bankrupt and in a lot. >> it didn't work with president obama. >> taxes to very high level. 2% of that's it.
>> taxes really race for the top racket, not for the others. it did a lot of good for a lot of people. this country is doing very well. the country is certainly moving well enough for you. are you going to work harder if you get a lower tax rate? >> i'm going to do a whole lot more with the money i get back. does she think i'm going to be sent in for those kids which was to me that the economy don't you think? the money that i get from this tax cut will be much better is that by me and by the government. stuart: we have more people working here and run their show for four hours a day and a degree? stuart: i might buy another house that employ builders and carpenters and that kind of thing. of course i will employ more people. what's wrong with that? it is your children and grandchildren will have more money in benefit from that.
that's not going to benefit. stuart: i will invest in assets which employ people and go to my children and grandchildren as is my right as a human being. >> those who are less wealthy spend our money they don't invest in assets. it is not what grows the economy. >> argued serious it doesn't grow the economy. >> most of our economy of small businesses. trade to a couple other businesses that can invest in more. one last question for you. if you make $50 million a year, that is your income. what tax rate should you pay? >> the tax rate around 39% is the right taxer for someone who is $3,002,000,000 a year. and if that person chooses to live in a locality like new york
that has its have, yes, they should pay for that. stuart: you don't see anything immoral about taking half of an immense income. >> no, sir. i do not. stuart: you've got the moral high ground. i'm just a filthy striver. you're going to come back. i want to see you come back. >> looking forward to being here. that is what sells tv is a motion. stuart: is a matter of fact you're right. did you make your money and television? >> now, financial services. stuart: financial services had come back soon. we will be back. promise.
stuart: members of the electoral college vote today. protesters in harrisburg, pennsylvania, the state capital where people are burning across the country. am i to bring them vermin. tell me what's going on. i see a big protest. >> to shut down the street in front of the state capital. the police here behind me. we've seen several arrests. the state capital, protesters assembling for the better portion of two hours now. for the most part, this has been
a peaceful protest. there have been some arrests. they say hillary clayton won the popular election. they believe russians meddled in the election and that's why they are here. those are their argument. stuart: right in the middle of it, but urban connecting a mac indeed. this is a stack of hate mail that one a lot are received in one day. his opponents wanted to change his vote. he's not judging them is is that the phenom on the good
stuart: it was a brief rally. it kind of faded up 40 points, but we were up 70. check those contact names. nice rebounds especially for amazon up about 10 bucks. please look at microsoft. i do own it in a brand-new all-time high justoments ago. good to know that sports fans. now he chairs feature out of millionaires. this is a group that opposes tax is. listen to this. >> we have been used in our
powers to try to change the system so those who are well here pay more. we don't want to race to the bottom. donald trump wants to make america more like ireland, lowering taxes to match other countries. stuart: steve moore asserts that doesn't trump economic adviser. >> i don't think you're tough enough on him. these guys are hypocrites. all these millionaires for higher taxes say they want to pay higher tax is that none of them do. he said are yogoing to take the child tax credit given to you? but lookif they wa to pay my taxes, go ahead. people should realize the bottom of the tax form is the line that says that that says i want to pay my taxes. .01% of people do that. let's see them pay my taxes and the mohammed discussion. stuart: he did raise an interesting theme.
trump wants to make america like ireland. >> i was at the bottom. ireland is doing great. then it's free enterprise everywhere. yes of course. this is what we learned during reagan. when reagan cut tax rates here, what of the rest of the world have do? free markets flourish everywhere. we saw prosperity all over the globe. government is what restrains prosperity and growth. if we cut back on government and taxeand the will have not just growth in the unit states but everywhere. if we cut our taxer to 15% coming straight the rest of the world keep cutting their rates. more money for private businesses and private workers. stuart: the expression of race to bottom. >> if they don't matter, what is ireland beat everybody with a 12.5% tax. reagan back in here. i want to ask him about that.
stuart: on the screen, phoenix arizona can the state capital of arizona. electoral college people both day-to-day. left-hand side of your screen. harris or, pennsylvania state capital voters both day-to-day. they blocked the street outside the capitol building. protests across the country trying to stop the elect are a college people their vote today. ongoing. >> by the way, they are trying to overthrow the legal elect a government is what they're trying to do. stuart: delegitimized yet that's exactly what they're doing. austin goes beyond the program. >> good friend of mine. i don't always agree with him. stuart: here's what he had to say about economic growth under trump administration. roll that tape. >> number one, the fed will be concerned if you try to juice too much, it will be inflationary given where we are
in the cycle so they will counteract it. number two, cutting tax rates massively for billionaires and big corporations and replacing it with a kind of a national sales tax model based on the bad. i don't think that will be that stimulative. stuart: the question i asked was steve moore says 44% growth to cut taxes demonically. he says you're not going to get that growth. >> first of all, i like him as a friend, that he was one of the chief economic advisers for obama and they give us the worst recovery since the great depression. number two, they massively ran up the debt. they will say it's a bad thing for trump to increase by the way i do not think he's going to do. why is it that obama was able to double the national debt and now it's a good thing and all the sudden their budget hawks. i don't understand the logic.
it's very simple. we are going to cut tax rates because we want businesses to have my money to hire more workers can invest more and pay workers more. if you take my money away, they have to cut workers. this is not complicated. stuart: the federal reserve will clamp it down by raising interest rates. >> the site is not the problem right now. we have relatively low inflation. the problem is tax policy and regulatory policy or crushing our businesses. you know that because we talk to business all the time and not the killing them. train to just one thing for me. i want the tax cut back dated january the first. >> probably from the debris impact the bill. can you give me recovery first? trained to think of any tax cut bill passed? >> now, it will be retroactive to the date the bill is introduced in appleby february 1st 2017.
to start investing now. >> you can come again. by the way, the dow industrials have not lost all of their game come we're back to a 38-point gain is big. we were up over 70 moments ago. achiness coming in from turkey reports that russia's ambassador to turkey has been shot. >> very little information, but there is a photo of the gunmen attacked the ambassador in turkey. he was taking place apparently a photo exhibition underway when the gunman was able to get through and shoot the russian ambassador. this brings into question turkey's relationship with syria and the problems it has with russia backing the regime whether this is part of that or something else is so waiting for details. stuart: an attempt to political assassination which is already an unstable country. >> we saw what happened with the
coup. the last hoping president-elect trump through the electoral college which votes today of course. here is what one democratic electoral voters that none fox and friends. watch this. >> it's not a matter of a legitimate than anyone. it's a matter of following our constitution of voting for a president who does not have obligations or is not influenced by foreign powers and who is qualified. stuart: the lady said it's not a question of delegitimizing donald trump. next guest is in a lecture from florida harassed on a daily basis. you are looking at a pilot hate mail that he received in just one day. this does not include the tax, blaise ingoglia as it does, the chair republican party and also in elect to a college member and
voter. this is really extreme. that's a load of hate value was needed. a lot more stuff coming at you? day i received double the amount of that now. i want to talk briefly about the democrat who is that they oc if we had a lawless president who never followed the cons to tuition. it's funny they bring the argument. >> there's nothing that says an electoral college voter has to follow their conscience. i don't believe that appears anywhere. >> let's be clear. they are trying to delegitimize a president trump. what they are doing is they cannot -- they simply cannot
handle an wrap their head around the fact that they ran a bad campaign with a really bad candidate who had an even worse message. this is what is happening now when you clash against the status quo. this is the status quo trying to push on the term presidency. this is a referendum on the status quo. a lot of people wanted change and not people don't like it because they see the change coming. stuart: i don't think this is going away. today the electoral college people will cast their vote. mr. trumbull did the president, but the opposition to mr. trump is no intent, so emotional i see this carrying on for much of the next year.
college and the nationwide popular vote which is not the way our framers intended this republic to be. stuart: and will never happen. at lst not in the next decade. thanks for joining us. i am sure you will cast your vote today for donald trump. am i right? >> at 2:00, will do. stuart: thanks for being with us. jill stein ,-com,-com ma remember she raised $7 million for the recount her. nearly a million of that -- they are astonishing travel budgets that are a hundred xt 4000 thereabouts. 350,000 spent on outside consultants. jill stein said we are going to do three count and any money we raise extra will go towards. this is basically a moneygrubbing exercise to make a lot of money off of the recount.
just siphon votes away from hillary and now we've got people coming nearly a million bucks out of the system to line their pockets. train to tell us how you really feel. moneygrubbing. >> this is what happens with campaigns. only bottom feeders take money out of the system. >> she's not going anywhere. she will is that or her next challenge. stuart: fox news has learned that admiral thad allen has emerged as a serious contender for va secretary it according to a, alan is meeting with mr. trump today down in florida. the left continues to whine as "new york times" columnist paul krugman says this is how republics and. much more on that and him in a moment. ♪
upgrade over bank of america. microsofmicrosof t with a record of their first stuart varney. lenora doing quarterly numbers, thanks to the housing it slow and steady recovery. equity coming under pressure after baron said he could see it down side to some momentum of about 5%. the stock down 30% today. fox business at 5:00 a.m. lauren simonetti and hi there. -- and i will see you there. ♪
stuart: developing story, russia's ambassador has been shot. he might this happened while the master was given his beach and art exhibit. a man with a police i.d. if you went in and was able to shoot the ambassador who was being treated at a hospital right now. they haven't given his condition, but they have confirmed he was shot. trade to further destabilizing turkey which was already destabilized country. >> relations with russia are not good. stuart: take a look at this headline from the very left-leaning "new york times" columnist paul krugman says how republics end. he was referring of course to the election of donald trump. he went on to say we are turning a blind eye to fascism by the dean mr. trump. fox news politics editor. i am surprised at the venom
here, the extreme language. i know it's krugman and i know it's got a history of this. this is "the new york times" coming out with stuff like this you surprised at this frankly. >> this cappuccino has been fraught so many times there's no coffee left. i would say a word of caution to those people both right and left who are actually concerned. when we look over the arc of history who have reason to be concerned over time about the desire for power in the federal government and the executive branch. that predates donald trump by 150 years. this is a real thing. people who are concerned about an over powerful central government ought to be concerned when people use language like this because in real concerns arise, it diminishes the power to speak them in a true and sincere way.
stuart: well said, chris. i've got another one. can we get that up on the screen. i'm sorry -- yes, here we go. another tweet says -- i'm sorry. >> i know the one. stuart: hold on a second. there was rightly a cloud of illegitimacy over bush dispelled wrongly by 9/11 creates an interesting incentives for trump. chris, that is krugman suggesting that trump would run if it from a terrorist attack and maybe even allow it. what the devil does that come from? >> with the true tourism indicating maybe, just maybe george w. bush did 9/11. you get into a pretty crazy space and this is a hard time for a democrat because there's nothing you can do right now except have lost and watch the laws unfold.
your team has lost the world series and the victory celebration goes on for four months and that's the democrats are enduring so they feel powerless. they feel angry. they feel impotent and here they are. this energy today is being wasted on yelling at the electoral. what could you do to make in a lecture wants to do his job more than scream at him? they don't get it. they don't understand what going on here. at some point soon, democrats will figure out what they can do. stuart: what they are doing is attempting to undermine the legitimacy of mr. trump's election and in fact by doing that, they are undermining the democratic process at all. did they realize what they are doing here? are they fully cognizant of what they are doing? >> expecting to lose trump pre-undermine the process that if he lost the vote would be.
democrats tested this is wrong. you are hurting institutions and republic. how dare you. they thought they would win. i wonder this. hillary clinton has spoken out. she has appeared before her donors. she has talked about the influence of russia and james call me and then i would daresay and president obama has done this, but there is a place or hillary clinton to tell her former supporters to respect the process and the institutions that stand as a bulwark against tyranny rather than tearing them down because you don't like the person who won. stuart: any day now you might see that. remember that commercial? thank you very much indeed. appreciate it. a snowboarder got stuck in the ski lift. a guy in the studio just bought
this. the poor guys dangling upside down. this is in oregon, by the way. he was eventually rescued by the staff. i'm glad it wasn't me. a birds eye view of a frozen white house and joseph, michigan. some say this presents a beautifully it looks like it's straight out of a fairytale. 15 below right there. now a something not from a fairytale. below freezing across much of the country. as for the pacific northwest. we are not done yet. "varney & company" rolls on after this. ♪
stuart: russia's ambassador to turkey has been shot, but we have an update. >> the capital of turkey, the gun man has been neutralized which would mean probably he's been shot. stuart:.the update. got it. a fox news poll. only 30% of people say they are better off since president obama took office. backtrack a little bit.
nigel farage says president obama is delusional if he thinks were better off. they make somebody coming to the end of a disappointing eight years, doing his best. here we are. i'm in the united kingdom. we've been your oldest encloses, best allies for a very long time. not only is obama's reputation here lower, but i can't think of any american president for some time, but actually america's reputation is lower. stuart: that was a key point. america's reputation is lower than for some time. stuart: the president getting involved in britain would take the back of the line. nigel farage is right that for working age men out of a job is still a record lows under this administration. we are creating low-paying service jobs.
not to say they are bad jobs. the majority of jobs created are low-paying and people working three jobs just to get by. stuart: in the beginning of the obama administration, allies had no idea which way things were going to fall. it's been a big complaint the united states has been exhibited leadership. stuart: because the perspective is the u.s. colonialists. >> when president obama for sainthood officials date visit many years ago, eight, nine years ago, he gave a gift to the queen of his own speeches on an ipad. it did not go down well. we are not done. there's a lot more. stay right there. we will be right back.
>> flat out of time. so here is neil. can i talk to an entire different way. here's one of my favorites. as you know she just died at the age of 99. i am a marvelous housekeeper every time i leave a man i keep his house. >> she was famous for not being famous. thank you very much. i appreciate that.