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tv   Varney Company  FOX Business  April 17, 2017 9:00am-12:01pm EDT

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they need to figure it out sooner rather than later. >> earnings, unless we get a cover off the ball, i think the markets may hit resistance and run into the wall. maria: great panel this morning, thank you for being with us. see you tomorrow same time, same place, "varney & company" begins right now. stuart: thank you very much indeed and good morning everyone. new week, oh, and a fresh look at foreign policy, america no longer in retreat. maybe we're taking a fresh look at the trump rally as well. first this, vice-president pence pays a surprise visit to the demilitarized zone separating north and south korea. the trump administration no longer willing to accept the north's development of nuclear weapons and long range missiles. the president calls a halt to appeasement, the era of strategic patience is over. and he has unleashed the military, oh, yes, the u.s. dropped the mother of all bombs on afghanistan. that was the weekend just before the weekend.
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and this morning, there is speculation from a former british foreign minister that the u.s. hacked and fried that north korean missile on its launch pad saturday. as you can imagine, it is a tense global scene and investors are piling into safe havens. the price of gold moving, well, it's flat at the moment, but pretty close to $1300 an ounce. u.s. treasury bonds of the the money pouring in there. and dropping the yield. two safe havens, treasuries and gold. and 20,453, where we go from here depends on profits. the reporting season starts now. if we don't see double-digit gains, watch out. well, the president's first 100 days are almost up, we're very glad you're with us. "varney & company" about to begin. ♪
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>> nowhere is that more evident than with our commitment to confront the region's most dangerous and urgent threat to peace and security. the regime in north korea. since 1992 the united states and our allies have stood together for a denuclearized korean peninsula. we hope to achieve this objective through peaceful means, but all options are on the table. the era of strategic patience is over. stuart: key expression, the era of strategic patience is over, but that was vice-president mike pence on a visit to south korea. he went to the dmz, clearly there is a new stand on foreign policy. i'm going to say that our retreat has come to an end. all right. i think we could agree with that and meanwhile, there was another failed missile launch in north korea. ashley, we know that it blew up
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almost immediately, but i want you to tell us about the speculative reports that we hacked it. ashley: it's speculative. it comes from malcolm rifkin, britain's former foreign minister in an interview with the bbc saying quote, there is a strong belief that the u.s. through cyber methods has been successful on several occasions in interrupting these sorts of tests and making them fail. he says, it could very well be likely that the u.s. hackers were able to get into the north korean system and create this failed missile test. we should point out though, and as did the interviewer at the bbc they've been quite mber of occasions as well. do we pick and choose which fail? president obama back in 2014 said he would use cyber attack as a way of trying to underminority korea's progress with the missile program. donald trump has inherited that as the new president, but you know, a lot of analysts say it's possible, but there's no way of knowing for sure.
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stuart: you never will know. it will never be told. ashley: an interesting theory. stuart: no authority will ever say, yes, absolutely. highly unlikely. it's speculation. ashley: it is. stuart: an enormous amount of geopolitical turmoil and investors are going right for the safe havens. the price of gold close to $1300 an ounce and dead flat this morning at 1288, but going up recently and look at this, the yield on the 10-year treasury down to 2.23%. that means, a ton of money has flooded into treasuries because they're a safe haven and that pushes the price up and the yield comes down, 223. it was 2.60, what, about three weeks ago, now it's 2.20. how about that? and as for the stock market, we will open later this morning, surprise, surprise, it turned around in the last few minutes. we were going to be flat, now, up maybe 50 points. let's see. from the markets to politics. freedom caucus member ron
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desantis says they are very close to a deal on health care. roll tape. >> the core thing that we have to do is deliver lower premiums and more choice on private insurance because that's the reason why people dislike obamacare their premiums and deductibles have gone up. that's what we have to do, if we can get there we can pass something relatively soon. stuart: relatively soon, have i heard that before? come on in, a republican from ohio happens to be on the house tax writing committee. congressman, we've heard all of this before. do you think it's possible over the easter recess that we've seen so far that the freedom caucus has been coraled and ready to go and say yes to obamacare reform? >> well, good morning, stuart and i think the answer is we've got to move this forward and the freedom caucus realizes that and we can't stall and keep looking for the perfect. and i do think in the end we
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will be able to move this forward. i'm hearing that from a lot of members that i'm talking with. stuart: when. >> i'm hoping when we get back we can get something passed. stuart: you get back one week from today, april 24th, next monday you come back. and on april 28th, you've got the budget battle, the deadline for the budget battle. so you're probably not going to see any movement on health care until at least may, would you agree with na? >> well, i'm hoping we can do more than one thing at one time. i mean, again, we're all professionals and i think that's got to be the answer, but you're right, we have the budget issue next week, we have to get past that and hoping we can get past this health care dilemma and move it forward. look, we were very close. stuart: we all hope. congressman, i'm sorry to interrupt you, but how many times have we heard we hope to do this and have to do that. it's not happening. can you tell us you firmly believe we will have obamacare reform on the table when you guys get back from recess? >> well, believe me, i'm a
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business guy. ashley: firstoff, probably i wouldn't have left until we got it done, but until we move forward we have to get this done. as you heard the president say, it's a starting point for tax reform, which is another issue we have to get done so i'm hoping we get back and get our feet on the ground running and do more than just one thing. the budget will be an issue. the affordable care act, repeal and replace bill will be and tax reform. we have to move all of these forward and i'm sure we can get this done. stuart: one thing that i'm hearing is there's so much to be done, all will end up with tax reform, it's not tax reform at all, simply a cut in the corporate tax rate because that's the easiest thing to do. have you heard that? >> well, look, i've heard that as well, too. i would agree there's not a member of congress that doesn't believe we have to cut taxes. it's the highest in the world. we have to bring it down and move forward. in the business world you would do that and then look at your
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expense side of the ledger and i think that's what the president is talking about. we have to be able to move forward so we can get businesses growing as well. stuart: congressman, thanks for joining us, sir, we appreciate it and see you again, soon. >> thank you, stuart. stuart: now, there is a totally different story here. there's a manhunt going on in cleveland after a video of a killing was posted on facebook. judge napolitano is with us this morning. now, it took facebook three hours to take that video of the killing down. now, if we could stop this from getting on facebook, should we? >> well, we could stop it from getting on facebook just by the force of opinion and by market forces, but this is a voluntary decision of facebook. do you mean, should there be a statute that would punish facebook for the failure to take this down or have some mechanism to block it before it was posted? >> some mechanism to block it before it's posted. >> that would be probably be an interference with free speech
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even though the speech is abhorrent, the speech or the revelation of the murder arguably was an attraction to the murderer and one could make that argument, free speech would probably be prevail. stuart: child pornography is banned. you can't watch it, you can't put it on there. >> yes, yes. stuart: it's banned. >> exception to the free speech. stuart: if you can make that exception can't you make exception for a killing? >> then you're going to start to go down the slippery slope that the people who warned about criminalizing child pornography warned us about at the time. the last time the supreme court looked at this it wasn't killing a human being, it was killing animals and the prosecution was not for killing the animals, but for filming the killing and airing the film. and a very, very hotly contested 5-4 decision the supreme court said it's freedom of speech. if you don't like it don't look at it. that's about the closest the court has come. we have never seen a prosecution of a film producer,
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in this case the guy did it himself, for filming the killing of a human being. stuart: so, the way to do this, if you wanted to ban this kind of activity, this kind of video from facebook, you would have to prosecute the person who put it on facebook. >> yes. stuart: and supreme court may or may not allow that. >> i don't think the supreme court would or the punishment of facebook. consumers can say to facebook, what kind of monsters are you that you permit that to go out there. facebook is not the government, facebook can take down whatever it wants. stuart: are you suggesting consumers could end their subscription or whatever it is, their membership of facebook. they could. that's unrealistic. do you know anybody that's going to walk away from facebook this morning because of this awful event? >> no, no. >> same here. but i really don't think the courts would permit this interference of freedom of speech. stuart: i'm with you on this. i think freedom of speech in principle that comes--
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>> hard cases make bad law, but that's where we are. stuart: judge, thank you, see you again shortly. check futures, a very interesting turn around happened here. about a half hour ago, we were going to be flat to slightly lower. now we're up 40, maybe 50 points at the opening bell. we'll see how it turns out in 20 minutes, but that's been a turn. goed good news for disney. beauty and the beast break the $1 billion mark that's worldwide box office, they broke the billion dollar mark this weekend. that's a lot of money. a week of anti-trump protests, demanding the president release their tax returns. the president says the protesters are paid and he wants to know who is funding them. we're asking that, too. vice-president pence makes a visit to the dmz and he says it's time to get tough with the north, the time for strategic patience is over, he says. more varney after this. think your large cap equity fund has exposure to energy infrastructure mlps?
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>> brand new week on wall street and by the way, this is the week when we start getting the big companies reporting their earnings profits. maybe that's why we're up 40 points at the opening bell this morning? maybe investors think they'll get strong reports, but we will be up at the opening bell. in north korea, i should say on the korean peninsula, strong words from vice-president pence. come on in, please. jack keane, former fox news military analyst. general, welcome back to the program. vice-president pence said the era of strategic patience is over. seems to us like, you know, the-- we're no longer in retreat, but here is my question to you, general. we hear that the north koreans are getting ready to test another nuclear device. what should-- what could america do if they test it? >> well, they've tested five already as we know, this will be number six and we will not do anything, i don't believe,
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overtly as a result of that test. what we are doing, stuart, and i think there may be some progress here, we are trying a diplomatic effort with the chinese for them to leverage the north koreans to stand down this nuclear program. we've tried that 20-plus years with three previous presidents, but there are some indications that china has accepted that responsibility as a result of discussions with president trump, and they are at least going to attempt to move in that direction. whether that actually turns into action and whether we actually get results remains to be seen. stuart: do you put any faith in this report from britain's former foreign minister that maybe american intelligence hacked into that rocket and made it fizzle on the launch pad on saturday? any veracity to that at all, do you think? >> well, i don't know myself, but there's been considerable
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speculation for some time now. the reality most of the missiles, more than half have failed and there is pretty, a lot of speculation at least in this town, in d.c. that we are very active here in cyber offensive operations to make those missiles fail. we certainly do have the capability and i think the speculation is going to continue and the administration is not going to talk about it, that's for sure. stuart: down anything about the reported new weapon, the electromagnetic pulse that we could fire off, it doesn't hurt people, it goes underground and fries anything electrical. is that also a possibility? >> yes, certainly that's a possibility. we are advancing technology all the time, stuart, and thankfully our defense industry and our advanced research is a little bit ahead some of these other countries and we do have capabilities that other countries are yet to have so, yes, that's another tool in our
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kit bag, we don't talk about it much, but it's there. stuart: you really raised-- opened up pan ddorpandora's box think you're used to that. one comment, please, on moab, the mother of all bombs dropped in afghanistan late last week. we hear that up to 100 terrorists dead in those tunnels. that was a signal, too, wasn't it, moab? >> well, the onscene command and general nicholson decided to do that because they'd tried to get in the caves with special ops and high casualty producing. and not going to do that. mr. air force, do you have something to use to destroy the tunnels? and this is what the air force came up with, we have this in our kit bag as well. it's a nasty weapon, stuart, because it has an incendiary fuel with it and goes into the
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caves and tunnels and it's a horrible death for those people in the tunnel. that's the weapon of choice to save afghan lives and american lives and also what we have to understand, this is a bona fide isis sanctuary for the corson group. and wefr there's sanctuary and safe havens, we've got to go after it and destroy it. that's the lesson of 9/11, we did know the destroy the afghan safe haven in afghanistan that we should have. every time we find these things we've got to go after it. stuart: thank you, general. >> good talking to you, stuart. stuart: and more anti-trump protests over the weekend, some got violent. they want him to release his tax returns. the president wants to know who is paying these guys. more varney after this. we ship everything you atcan imagine.n,
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>> is this all they wanted? they wanted the release of president trump's tax returns. that was berkley, california, all of that violence, just because they want to see tax returns? here is president trump's tweet about that. someone should look into who paid for the small organized rallies yesterday. the election is over. liz, i was surprised at that. all they wanted was the tax returns? >> well, there are polls suggesting that voters want to
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see the tax returns and he's the first president since nixon not to release them. who are the groups, 7 p 0 progressive groups, moveon.org, occupy wall street, come on cause. what's interesting, there's a move afoot in certain states to pass new laws, hawaii, california, new york that would say to candidates if you want to be on our ballot in our states, you have to release your federal returns. stuart: would that stick at the federal level? >> it could, sure. on the state level. stuart: i'm surprised all you want, demonstrators across the country to see a tax return. liz: it's expedition to see russia anything like that. ashley: remarkable, groups of pro and anti-trump groups as you can see, those supporting donald trump knew they would be attacked and they showed up wearing helmets. stuart: trump supporters. >> trump supporters, knowing they would be attacked. and street brawls, you don't see much police intervention
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here. at least 20 people were arrested, some people taken to the hospital with injuries. stuart: it looked like the anti-trump people were dressed in black. >> they were. stuart: the usual out fit. >> and carrying big, and knives. liz: sticks, knives and flag poles. stuart: it's come to that. that's the worst violence, i think, that we've seen since the election. ashley: i think so. stuart: i think that's the case. ashley: and this is the most violent we've seen. liz: and they're environmentalists, too, and destroying property. stuart: it's amazing to me that berkeley is the home of the free speech, free speech above all else, not now. we'll open the market in four and a half minutes time. when we do the dow will be up 43 points. we'll take you to the opening belfour minutes from now.
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-- bell four minutes from now.
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>> it's monday morning and we're following a three-day holiday weekend for the stock market, that is. on trsda afternoon we closed at 20,453, that's the dow industrials. we're opening up a brand new week and by coincidence, this is earnings week.
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this is where we start finding out how much money the big corporations made or didn't make in the first quarter of this year. they better be strong performers, all of the expectations are, don't like to use that word, but expectations are 9 to 12% jump in earnings. if we don't get that, with a much out below. opening up, we're 30 minutes up from the get go. i see a lot of green on the left-hand side of the screen, we're up 39, 40 points and see one red square and that's it. that's not bad, is it? 46, 47 points up, how about that? it's been a while since we opened up like that, 50 points higher as of now. the news, ladies and gentlemen, in the first 30 minutes of business is this market is headed higher in earnings week. now, we're up nearly 60 points, but we're also in a flight to safety week. look at gold. only 11 bucks high of $1300 an ounce. the turmoil around the world is
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pushing investors into gold bullion and that's usually a safe haven. another one, the 10-year treasury, the united states treasury, when all else fails, you can depend upon the u.s. treasury paying you what you are owed. so the money flows in, the price goes up and the yield comes down. right now we're at 2.23%. that's a very good indicatorment how about amazon? we always bring you an amazon story. and it's a shade higher than the mark. there's speck laying, real speculation it might be interested in buying b j's wholesale. what would they do with it is a pretty good question. it's enough to get the stock up $50. apple reportedly received a permit in california to test self driving cars on public highways. that's in california for you. how about the liability? not sure on that one:
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there's a manhunt in cleveland for a man allegedly who killed an elderly man and uploaded the video on facebook. took facebk ree hours to get it down. now it's $140 a share, up 80 cents. that killing incident having no impact on the stock price. china's financial ant, this is, ant financial is interested in buying moneygram. moneygram, therefore, a considerable winner up 6%. $17 a share and it's up a you can. who is with me, who is going to help me struggle through the opening scene here? liz macdonald, ashley webster. ashley: thank you very much. stuart: scott shellady and of course, keith fitz-gerald. earnings season kicks off, here is my point, i'll start with you, keith. if we don't get overall a 10% rise in earnings, i think this market's got trouble. what say you? >> i think so. i don't necessarily think that
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the market's actually at 10%, i think it's 9 1/2 or 8. here is the thing, the bar is so low, it's laughable. that's what corporate financiers engineered six, seven ago. >> the expectations, it's kind of r rigged to start with to some degree? >> it's like betting on a horse race after you know the results and that's what investors don't realize, you've got to go with the companies that are logically going to do the right thing. stuart: okay, scott, what do you think? i'm satisfying -- i'm saying if we don't get 9, 10% jump in overall markets, what say you to that? >> i may be debby downer, we might get your number or better, but look what we've got as of late. no inflation, very low growth,
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missing expectations. those two have to be a lot bigger. that's the problem of the even if we have good earnings, i think it's dwarfed by the fact that we don't have what we really wanted and animal instincts were supposeto wake up. we don't have any growth and we don't have any inflation. stuart: still we're up 75%. ashley: and a fed that wants to raise rates getting it wrong again. [laughter] >> scott was right when he said it's a show-me market. you show me tax cuts, she mow obamacare repeal and-- >> i think the market six weeks ago, i think there's downward pressure until the show-me market gets shown something. stuart: we're at 20,500, that puts us what, 600 points, about 500 points away from the record high just above 21,000. i think you could say the trump rally is on pause. liz: i agree. stuart: waiting for a sense of direction. liz: that's right. stuart: that's the most
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meaningless expression. liz: platitude. stuart: thank you very much, indeed. it is. waiting for a sense of direction? aren't we all. ashley: every day. stuart: here is a news story, the new york post reports that b j's wholesale club is for sale and that amazon might, repeat, might be interested, interested in getting it. that's an interesting combination. keith, what do you think amazon would get if they went after b j's? >> a more inefficient operation. there's no reason they would pye something conventional bricks and mortar like that. i can't see that they'd be interested. stuart: supposing you have a warehouse, phone, pre-order on-line what you want to buy and go down and pick it up. that could be a new way. liz: it's groceries, wal-mart has sam's club, could take on costco. when you look at what wal-mart is doing with jet.com, its on-line company. jet.com is now saying if you want to forego discounts--
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forego refunds or returns, we'll cut the price further. so amazon is going into a price cutting war. this could position itself in the grocery market. ashley: it's a real estate play? is that what you're saying, used for just warehousing items? >> yes, yes, it's a big box play. keith, isn't that what it is? a pickup play, that's what it is. >> it's a pickup place. why are you going to buy legacy employees, legacy contracts, legacy when you can come in from scratch and do it the amazon way? it doesn't make financial sense to me. stuart: amazon is up at 893 as we speak, $9 higher. i'm staying on retail for a second. last week we had the former saks, as in saks fifth avenue, he joined us and he said, it literally, 6 to 8,000 stores will close this year. scott, that's our story. that's retail ice age and that's a very big number. >> you're exactly right.
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and most of these stores will have been amazon zapped by then. once we start to move people from buying on the computers to the cell phones, that's going to accelerate the store closures. buying on your cell phone is a relatively small things and the earnings that people report about on-line sales are very small compared to the bricks and mortar. once you start to see that big shift there, this is the way it's going and you're on it first with the ice age. it's going to continue and that's the way forward. it's going to be on-line and people got to get on board. stuart: i think it's a real revolution and change the way not only the way that america shops, but the way it looks and feels when you see main streets boarded up and deserted shopping malls, that's a big shift. let's move onto disney. the beauty and the beast movie, it hit a billion dollars gross revenue worldwide. it's going to be a huge moneymaker for disney, no way around that. liz: that's before merchandise it's hitting a billion bucks. it was projected to do it and
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it's done it within a month of the release of this film. stuart: how about this one, universal, the fate of the furious? that was the biggest global box office opening ever, universal is owned by comcast. this is one in a series. it's an action move. ashley: a franchise. liz: that's right. stuart: shoot-em-up and drive cars fast. liz: it's global. ashley: i've seen it. stuart: you have? >> i haven't seen that particular movie, but the other ones. my son, i took my son. stuart: there you go. ashley: wow! . [laughter] >> it's not my market. we're 73 points higher this monday morning, there's the od news as we start the new week. 20,500. how about the price of oil, where are we? i call it $53 per barrel and that's why gas has gone up 11 cents in the past month. we're now at $2.40 as your national average for regular. some individual stocks making moves.
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arconni arconic, a-r-c-o-n-i-c, alcoa, they wanted to have the management. and video of a killing was posted on facebook, took them three hours for them to take it down. doesn't make a difference. liz: credit suisse gave them an upgrade. stuart: should you put that up there, it's irrelevant to the stock. it's a free speech bill. liz: it's glorifying violence and i don't know how they get over the brand. stuart: if they didn't do it. liz: how did they start child porn right at the threshold,
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out the door. stuart: you make it an offense to wat an offense. take part in any way. ashley: so many of these incidents, attacks, live on facebook, none has hurt the stock price one bit. stuart: it has not. move onto apple reportedly received a permit in california to test self-driving cars and i believe this is on public highways. like every big tech firm, it's testing them, the tech companies are getting into other areas as well, which is exactly what they should be doing. liz: it's interesting on california roads. ford is doing the same, a bunch of companies, google-- excuse me, california is the test drive market. ashley: what's the end game here, apple cars or just the software that enables the car to drive autonomously. >> there you go. stuart: i'm sorry, keith, cars these days are nothing, but a comput computer on wheels, that's what
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they are. >> that's exactly right. spot on. the software. the question is i want to know who takes liability, the fwie h-software, the intoxicated guy in the car? >> scott, tell me. >> you know what? here is how i envision it, my crazy brain. just like your computer has an operating system, you may buy the shell of a ferrari and put a google operating system in it and there you go or vice versa with apple. they'll make the operating system, but the car will be yours to choose on the outside. stuart: don't laugh, i think you're onto something. thank you for joining us this monday morning, thank you very much. we've got a new study from the heritage foundation. it says if president trump manages to repeal dodd-frank,
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he could add $340 billion to the economy. the man who did the study breaks it down for us next.
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>> this is interesting, after a weekend in which america has flexed its military muscle, we have the dow industrials opening higher, 55 points higher, reaching 20,500. on friday, eli lilly and insight said that the fda did not approve the am indication for a rheumatoid arthritis treatment, red arrows all around there, lily down, and pricewaterhousecoopers, a firm that brands itself as the place
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to work for millennials, that strategy may be backfiring, i've not seen this story. liz: i have not either. boomers versus millennials? >> you know what? we're going to get it esounds interesting. stuart: i think some older workers are getting kind of angry that a lot of companies all they do is hire youngsters and nobody else. what about us. ashley: exactly. stuart: we'll get the story shortly. joining us now from heritage foundation, norbert michelle. you have to tell me is it michelle or michael? >> it's michelle. stuart: thank you, you've got a study that says you repeal dodd-frank reform and it boosts the economy by $340 billion, is that over a 10-year period? >> the 340 is a dynamic revenue impact over a 10-year period, yeah. stuart: okay, so-- >> and then if you look at the gdp effect is more like 1% per year on average over a 10-year period. stuart: well, you really want
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the reform of-- you want the repeal of dodd-frank, don't you? i can tell. so break it down for me. what is the biggest thing that the repeal of dodd-frank delivers to the economy. which single item? >> well, i think if you look at the dynamic model, increasing capital stock of 3 to 4% abouter year on average. to be clear what we've done, we've just used a standard measure of excess borrowing cost and we estimate that at 22 basis points and we remove that from the economy. stuart: you've totally lost me. it you translate that into everyday english. >> sure. stuart: i'm not quite sure i understood exactly what you said. give it to me again. >> i'll give it to you again, i'm sorry. we use the standard approach for measuring what dodd-frank has done to borrowing costs and that looks like it's about 22 basis points. stuart: so dodd-frank raises
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borrowing costs, right? >> correct. stuart: by almost a quarter of a percentage point, correct. >> that is correct. stuart: okay, now keep going. >> and then when you sort of just plug that in, a standard sort of macroeconomic model, to take that out of the economy and to say if you lower borrowing costs again, what do you do to the economy, how do you improve it. stuart: okay. >> and that's what the paper is about. stuart: now, how do we do this? how do we get rid of the extra borrowing cost, dodd-frank, has it have to be legislated or the president do it by executive order in some way? >> that's a really interesting question. he think for the most part, though, this has to be done legislatively. in one sense, there's a lot of rule making that implemented dodd-frank, so some of those agencies could pare back the rules and some are independent agencies, it's not as though
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the president can simply have the agencies do whatever he wants. for the most part, you're going to have to see a legislative solution to this. stuart: okay. most of the bankers that i've talked to tell me that it is smaller banks, maybe regional banks, community banks, they were worst hit by dodd-frank, is that accurate? >> i think that's accurate and it's really strange because if you read the text of dodd-frank, a lot of this stuff applies to the largest banks. but what happens is, without any specific legislation at all, those regulations tend to filter down to the community banks and then on top of that, you have the cfpb who is supposedly not going to supervise or be incredibly involved with the smaller banks, but the small banks have to apply by their rules as well. when you throw all of those things in with all the regulations that already exist, the overall weight of this is
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just killing them and that's what we hear from community bankers all the time. stuart: the good news is, that getting rid of dodd-frank is going to boost the economy. the bad news is that it's going to take an awful long time to get rid of dodd-frank. thank you, norbert michel. >> thanks for having me. liz: do you want the fight again the millennials and boomer a class action suit. stuart: no time, no time, but we'll get to it, promise you that. dow industrials are up 61 points. a lot of green on the left-hand side of the screen. this is an up market this monday morning. we'll tell you about that referendum in turkey, and giving sweeping new powers to the country's president. we're on that. it's a big deal, actually, and turkey is a nato member. your insurance company
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you'll learn the benefits of a government-insured reverse mortgage. it will eliminate your monthly mortgage payments and give you tax-free cash from the equity in your home... and here's the best part... you still own yohome. call now! take control of your retirement today! >> in turkey, presidenteredwap has been handed powers. ashley: it's tighter than what people thought. this really does give the president sweeping powers to put it basically all in his seat. if you like. it abolishing the prime
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minister, allows him to appoint judges. judges of course will be friendly to him as they decide on whether his decisions and policies are okay. and it's a constitutional change. so it's a major, mange change for turkey, critics and around the west are very concerned about this. you could argue, he's been doing this since certainly the coup in the summer of last year, last year. he's taken control. stuart: it solidifies one man rule and turkey will never get into the european union. ashley: he's already raised bringing death penalty back to turkey. it's a red line for the eu. and he's all about it. stuart: they'll never get in. to france and the presidential election goes into the first round of voting on sunday, just six days away. it's going to be a very close call, but this is the latest. the communist candidate has made huge gains.
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liz: jean-luc, marie la pence is tied. and it's a reconstructed communist and reconstructed fascist in la pence, they're calling her that. and he says the evils of extreme markets are trance transforming your misery into gold. stuart: what on earth would france know about extreme markets. what would any european account know about markets, extreme markets, they don't exist. liz: he counts chavez among his-- >> chavez from venezuela. ashley: he has the young vote. he's the bernie sanders of france, even further less. stuart: that's an election that continues to surprise. liz: the run-off is on the 23rd. stuart: ladies and gentlemen,
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we now have the dow up 77 points, turmoil overseas, america takes a stand in afghanistan, with military, and look 20,500. yes, we have a significant shift in foreign policy. the trump administration has been sending messages all around the world, to north korea and to syria. the vice-president says the era of strategic patience is over. how about that? my take top of the hour three minutes away. there are certain things you can count on, like what goes down doesn't always come back up. [ toilet flushes ] so when you need a plumber, you can count on us to help you find the right person for the job. discover all the ways we can help at angie's list. or how high the pollen count, flonase allergy relief keeps your eyes and nose clear. flonase helps block 6 key inflammatory substances that cause nasal congestion and itchy, watery eyes. for relief beyond the nose. flonase.
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stuart: the event of the last 10 days make i had very clear that america is back on the world stage. president trump has unleashed our military and he is not using quote, normal diplomatic language. 59 tomahawk missiles launched into syria. a direct challenge to iran and russia. the "mother of all bombs" dropped in afghanistan. it is a 22,000-pound bomb never
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used on battlefield before. now it has been used. aircraft carrier strike group positioned near korea, ready for action before the north korea missile test fizzled on the launchpad. that carrier strike group still there waiting for potential nuke test. this is 180 from the obama years. wait, there is more. right before the french presidential election president trump is sending clear signals to europe, wake up, change course, pay for your own defense. the media is worried. they're not used to america asserting itself as force for good. some investors are nervous pouring money the safe havenses of gold and treasurys. the president has not needed congress to do any of this. that is why he has done profound change. when you sit in the ovaloffs you
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can use a moab and shoot down a north korean missile if that is your strategy. after this the president is politically stronger. he is doing what he said he would do. congress still out of town for anotheweek they really should take notice. the second hour of "varney & company" is about to begin. ♪ ♪ stuart: don't stop me now. that is by queen as i'm sure we all know. thank you, prompter. by the way, no stopping the market this morning. nice solid gain, we're up 76 points despite all this confrontation overseas we have the dow up a very solid 70 points, putting it back above 20,500. how about the big technology names, where are they this morning? all of them on the upside,
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facebook, amazon, microsoft, alphabet, apple, all of them gaining ground today, especially google and amazon. both up 8 to $6 respectively. don't forget oil, 53-dollars per barrel this morning. snap, recent did i did the ipo. they just touched below $20 a share. likely concern about growing competition from its rival which is facebook. credit suisse raises its price target on boeing. boeing is the biggest gainer of all the dow 30 stocks. back to my take it, top of the hour, i was saying essentially president trump on foreign policy has done a 180. gordon chang is with us this morning. i believe that the president is getting some help from china vis-a-vis north korea. now what? the north koreans are reportedly getting redded did i another nuclear test.
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what do we do now? >> important thing here beijing leaned on pongyang not to go forward with the nuke test. that is why we saw it before the big saturday parade when everybody, including me expected it. it was clear at mar-a-lago, trump shoots off 59 tomohawks. he hit as chinese friend, syria. i thought they weren't going to test by saturday. what happened now, china is really leaning on north korea, because they're afraid of trump. stuart: is it really leaning on north korea? >> they're doing so for the next few weeks or so. this is a pattern we've seen in the past. when the u.s. pays attention to china and north korea, the chinese do the right thing. when we pay attention somewhere else in the world, the chinese go back to the old way of doing things which is supporting north korea. we'll see the same thing now unless trump keeps pressure on. that is really the big issue.
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we heard h.r. mcmaster, the national security advisor saying this problem is coming to a head. that message is not only for pongyang but for beijing. stuart: do you think president trump would make a preemptive strike against a nuclear site in north korea if he felt and intelligence told him they are indeed about to test a nuke? do you think he would do it? >> i don't think so. we won't know. they have already buried the nuke into the tunnel. they sealed the tunnel. completed all initial preparations. we'll not see what happens next. the one thing that he occurs, kim jong-un, north korean ruler will make a political decision. he will pick up the phone. we can't see that from space. we don't have intelligence on the ground in pongyang. we won't know when the thing goes off except when the ground shakes. stuart: when the ground shakes, they did a nuclear test. do you think president trump would take military action directly against north korea, because that really raises the
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stakes, doesn't it? >> it raises the stakes. trump made it clear that shouldn't happen. i don't think we will do that i think we'll use non-kinetic means to go after the north koreans. for instance, we can tighten the sanctions. more important we can put sanctions on chinese banks and financial institutions supporting the north korea ballistic missile program, the nuke program and commerce. stuart: do you think the president would threaten the chinese on that, if you don't get a grip -- >> i'm pretty sure. trump officials have been talking to the press unofficially, last two or three weeks, talking about secondary sanctions on chinese companies. the message must have been given at mar-a-lago. unfortunately i was not there, but i am sure that is the past conversation. stuart: i'm reading between the lines. seems like president trump's meeting with xi jinping was a success from america's point of view from america's point of view. at the big summits the chinese delay everything. they got everything out of this relationship they want.
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up for us to change the die many ma i can. i hope trump can do it. stuart: gordon chang, as always, thanks very much for joining us. >> thanks, stuart. stuart: over the weekend there were violent protests around the country, particularly violent in berkeley, california. what protesters in various locations demanding was president trump's tax return. he says, president trump says, he put out a tweet about it, someone you should look to who paid for the small organized rallies yesterday. the election is over. that is from president trump. tammy bruce is with us. do you have any idea who really is paying for all these demonstrations around the country? >> we know they're not organic. we know they're not happening with people in the community. what we do know absolutely, part of the town hall project which is partnering with the podesta's cap, center for america progress. they have a political arm. what they're doing, they're open with emails. we're partnering.
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we'll expand this. the cap action fund is headed by neera tanden who worked back in the clinton white house. she worked with the hillary clinton campaign senate staffer. she now of course, she also worked on obamacare in crafting that. was an advisor to obama at hhs. so you have that, they're all at same address by the same with george soros entities. stuart: hold on a second. that is the first mention of the name everybody is looking for. >> there is many more. we always go to soros. he is involved here. same groups involved in ferguson, the walmart protests. it is like, it is occupy again. it is the same, scores of organizations that are the left-wing groups that are funded by, when you look at this, also the unions. parent company of the town hall network is the action network. board is sciu president, staffer
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for howard dean, john kerry. democratic party activists. same unity in the campaign and same individuals funding that as well. with soros being at the foundation, with union money and with democrat party activist money as well. stuart: president trump tweeting, this is just minutes ago, the super liberal democrats in the georgia congressional race tomorrow wants to protect criminals, allow illegal immigration and raise taxes. there is indeed an election tomorrow to fill the seat in the house for tom price, who has moved up into the executive branch. now the president is saying that the democrat in that race, outrageous stuff, protecting criminals and et cetera, et cetera. what do we know about the democrat and his policies? >> it is liberal democrat agenda. that is who this individual is representing. who isow fundingim, major liberal entities. keep in mind in that district trump only one 1.5% hillary.
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price won 23-point spread. they're using it anti-trump dynamic but he is funded by left-wing groups. stuart: that is the point, isn't it? >> yes. stuart: the democrat candidate, that gentleman on the screen is out there on the left. this is no moderate middle of the road democrat. >> no. stuart: he is on the left. >> yes. stuart: which suggests to me that the left really does have enormous power within the democrat party. >> that is it. being supported by the left, just means the current democratic party. stuart: have they taken it over? >> i think it is pretty clear they did. during the last election tens of thousands of democrats in massachusetts reregistering as republicans, we saw that in a number of states, not just waiting to vote in open primaries but reregistering as independents or as republicans. there was a massive outflux with the democrat party during the last campaign. and we're seeing it now, it is left with the extremists. stuart: i find it fascinating,
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in france, many are attracted to the communist candidate, flat-out trotsky kind of guy. ashley: yes. stuart: in the election, bernie sanders had enormous amount of support at the dnc. the left took control of the party machinery of democrats. ashley: yes. stuart: now they're fielding a far left candidate in constituency in georgia. liz: the democrats as you pointed out, tammy, lost so many state and gubernatorial seats. across the country under obama's term, right? >> let's remember. these are special elections. turn out is normally much lower, the more you can gin people up emotional push, you will get the fringes than average person. president trump is trying to get regular voters out there to let independents and democrats that is not the guy you want. stuart: we'll watch it. thank you, tammy. after 16 months it was the moment the internet was waiting for, april the giraffe, finally
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gave birth to a baby calf. that is redundant. it was a calf. adventure park in new york. 1.3 million people were live streaming the birth. it did happen. that, ladies and gentlemen, is cute. remember this. becky garrett son testifying in screen 2013 in ways of and means hearing of irs abuse. republicans want to reopen the case to lois lerner. garrett son, that lady will join us sortly. marine le pen facing competition from a communist. that is extraordinary. more details as we roll on. ♪
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stuart: i believe we should sound the trumpets for this. [trumpets playing] look at that. this is the high of the day. monday morning, we start on a new week. as i keep on saying, america taken a strong stand overseas on foreign policies. tensions are rising. nonetheless, the dow is up 91. because investors exct strg ofits reports. we'll reporting this week, expecting real strength. we could be up 100 point within a couple seconds. we'll keep an eye on it for you. now this top republicans on tax writing committee, want attorney general jeff sessions to reopen the lois lerner case for her role in targeting the conservative groups in the 2012 election. becky garettson joins us. she was with the watumpka tea party. she was founder there. you were the public face of irs abuse. they brought you to tears.
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so welcome back to the program. and do you expect this possible reinvestigation of lois lerner to go anywhere? >> well, thank you so much for having me back. it is great to be with you and yes, congress found there is definite evidence that she was willfully a part of this targeting scheme and they do need to reopen this investigation, no doubt. stuart: do you have any idea what this new information might be? >> well it is interesting, last ring and our attorneys were able to find out from the job, a d.c. circuit court judge, we can go to discovery. so we're now looking into not only having to go through what the irs has given us, but we on our own can find evidence. we have seen years ago blatant evidence, emails of what were said in emails that this was a targeting scheme and it is multiagency.
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it is not just the irs. stuart: take 20 or 30 seconds tell us what happened to you at the wetumpka tea party t was 2011, 2011. tell us what happened again. >> in 2010 we applied for 501(c)(4) tax-exempt status this is something they have done 50 years. the irs processes these in about 90 days. well we didn't hear anything for a year-and-a-half. when we got a letter from lois lerner, threatening to throw out our applation unless we answed 80 more questions about the inner-workings of our organization, personal information about our members and volunteers, these are clear violations of our constitutional rights and -- stuart: it was lois lerner that sent you that letter, spreading it out, keeping you out of the election? >> yes. stuart: it was lois lerner that did that? >> yes. do you know the irs asked some groups what the contents of their prayers were? what the books they were
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reading, the irs even asked for a book report from one of the groups. can you believe this? stuart: yes, i do believe it. what i can't understand is how everybody walked away scott-free. i don't believe anybody, i may be wrong about this but i don't think anybody was sanctioned? >> no. stuart: nobody lost their job, nobody lost their pension. >> no. stuart: nobody had money removed from them, john koskinen, irs commissioner, he has still got his job, i am right saying that. >> i am stunned he still has his job, under his watch hard drives were destroyed, emails were lost. he misled congress. i think it's just washington, d.c. lives in a culture of corruption and that is why he is still there. stuart: well, please, will you stay with us, becky, we want to know any progress you might make in these legal proceedings. you're right in the middle of it and we want to know from you what is going on? >> yes.
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stuart: becky gerritson, i want to see you real soon. >> thank you. stuart: a thorn in facebook's side. a murder has been uploaded to facebook. what are they going to do about that? another question is, of course, what can they do about things like this? anything or nothing? we're on it. 20 people arrested at a trump rally in berkeley after the left crashed the party. the president says, somebody paid these protesters. we're all over that story as the dow goes up 100 points. ♪
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that's over 6 times faster than slow internet from the phone company. say hello to internet speeds up to 250 mbps. and add phone and tv for only $34.90 more a month. call today. comcast business. built for business. stuart: how about this? high for the day.
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we're up 100 points on the dow industrials. that put us to 20,500. netflix is a stock moving up already today. 2% gain. they report their earnings at the end of the day after 4:00 eastern. watch carefully for any increase in the number of subscribers that they bring on. that's the key number. that's why the stock is going up. they're expecting a lot of new subscribers. check this out too. the heritage foundation says, you get rid of dodd-frank in its entirety, that is financial reform, get rid of it, you boost the economy, liz, by what 340 billion over 10 years or 1% up gdp every year. liz: that's correct. senator pat toomey, republican out of pennsylvania with all that savings, if you repealed dodd-frank, why don't we include it in the talks about cutting taxes to offset any hike in the deficit? that 340 billion is lost economic growth, lost opportunity.
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so if you incorporate it in talks about tax reform, obamacare reform and get those measures passed with just 51 votes. the point being, can he get the cbo to agree with him to include because dodd-frank is regulatory. it is not tax-and-spending, right. that is an interesting debate. stuart: dodd-frank, with all the savings, apply them to the budget, that means you could pass tax reform with 51 votes. liz: that's correct. or obamacare reform. stuart: we need dodd-frank to be gone. liz: need the cbo to go along with that. stuart: tammy, your reaction, can you do this? >> here is what we found, congress can do whatever it wants. when you have the pressure of the president. it is a great idea. clearly he thinks it is possible. they're either constrained by the rules and they want to be and they're not when they don't. there are ways to do this. with president trump involved
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perhaps the budget guy can do it as well. stuart: playing rules right with everything 51 votes that is fine with me, but can you get republicans to be unified dodd-frank reform or obamacare reform. you can't. >> after all these years they couldn't get unified with the thing that elected them, obamacare. i'm curious, we're speaking about all of this, a lot of ifs, may, should. what are they doing in two or three weeks they couldn't do in five weeks? i'm very, very curious. stuart: i mean do this we're party of government. i'm on my high horse again. my pressure. let me change the subject completely, get the blood pressure down, talk about this. that is a self-driving car. apple has a permit to test self-driving cars on public highways in california! ashley: that is a tonka toy with a giant key on the back you wind up. it covers three lexus suvs.
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i'm sorry. stuart: on public highways. i don't care what it covers. you will have autonomous cars, autonomous driving, what you call them, on public highways being tested in public. ashley: gm already has the permit. so does ford and so does tesla. the more important issue, does apple do what google did. they were testing cars. th got out of it. they make thsowa people can buy to put into the cars that is the big question for apple. do they continue to put out an apple car? do they just get technology right through testing on public roads, you're right and sell it to another automaker. stuart: bring on the lawyers. who is liable? ashley: that is always -- >> see size of those. you get hit by a suv with in that, you will have another moon shoot. stuart: good one, tammy. delta trying to take angry passengers away from united. they are offering to, get this, up to $10,000, give up your seat we'll pay you big bucks.
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the president is now speaking. that is the easter egg hunt. watch this. ♪ o say does that star-spangled banner yet wave ♪ ♪ o'er the land of the free, and the home of the brave ♪ [applause] >> what a great voice. thank you very much, great job. i want to thank everybody. this is 139th.
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easter egg roll, think of it, 139. it began a long time ago, 1878, and we will be stronger and bigger and better as a nation than ever before. we're right on track. you see what is happening and we are right on track. so thank you, everybody, for being here. [cheers and applause] we're going to do cards for soldiers a little bit. melania, baron, myself are going downstairs, we're signing for cards for our great troops, cards for troops. we look forward to that. we'll come out and join you, enjoy your company, for a roll, a great easter egg roll. and i don't know if we're going to be successful. i know a lot of people down there will be successful. i've seen those kids, they're highly, highly competitive. i can tell you. i want to thank first lady melania trump.
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she really worked hard on this. [applause] she has been working on this for a long time to make it perfect and we wanted to keep it just right. so i wanted to asker had to speak. before she speaks i want to could congratulate her on this wonderful, wonderful day. we'll have a lot of people, a lot of people. they will have a great time. melania. thank you very much. baron, thank you very much for being here. thank you very much. [applause] the first lady, melania trump. thank you, everybody. [applause] >> thank you. welcome to the white house. this is the first time that my husband and i hosting this wonderful tradition. and it's great that you are l with us today. i hope you have a great time with many activities. i want to thank military band, all the staff, and volunteers,
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who worked tirelessly to insure that you have memorable experience. i want to thank all the military with us today. and -- [applause] and the military in this great nation and servicemen and servicewomen all around the world who are keeping us safe. as we renew this tradition, thank you for joining us. on behalf of the president and baron, we wish you great fun and beautiful days coming ahead of us and happy easter. thank you. [applause] >> happy easter and have a great, great time. have a great day. thank you, folks. thank you very much. i'm coming down.
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i will be joining you, thank you very much. my whole family is here. stuart: there you heard it. that is the president of the united states and the first lady. we saw baron there. did you see his gesture. i have not seen him gesture in public before. there he goes. gives a wave. president trump has a way of handling television. got a way better than almost any president i can remember. ashley: doesn't matter what event. liz: what did you say? he could make a funeral thrilling. get carry ad way. liz: that's what you said. stuart: he communicates so well and makes the occasion interesting. that is from my perspective. i am not being idealogical here, not a trump supporter or otherwise. ashley: he is honest and talks about what he on serves at that moment. there is no filter. liz: true. stuart: doesn't lo embarrassed or self-conscious at all he has walked down theteps. he is joining everybody for the easter egg hunt. loads of children will be there.
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they're all scrambling for easter eggs. the military will be there. he will be signing cards for the military. it is a photo-opportunity, he revels in it. he loves it. you can tell this man is very comfortable in that particular skin right there at the white house. now the camera will be backwards and forwards for a while before we see the children sprint -- there they go. liz: looks like going to be 18,000 eggs. i saw that stat. stuart: 18,000. i don't know how many children will be getting eggs. ashley: seven. [laughter] stuart: look who is with us now. following my comments on how president trump is very much at ease on television. who is with us, none other than howard kurtz, the "mediabuzz," guy. what do you think, howard, most tell againic capable tv performer of all time as president? >> one of the underestimated reasons he got elected he is good tv.
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remember during the campaign all those rallies and all cable networks took them live, because you never know what he would say, attack the press, make a good joke. he is very entertaining with all that reality television show experience. he is so comfortable in front of the camera. first time i interviewed him, he was fussing with the shot. the lighting would look better over here. this guy knows what he is doing. stuart: do you think it is possible for any person to become elected president in the future who does not handle television well? >> probably not because you know, the television is the stage on which every president must perform, whether it is the easter egg hunt or you are pardoning the thanksgiving turkey or giving a serious speech about an international issue. i think also the televisedded debates are crucial and big speeches. i don't think anybody will be quite like donald trump. there has been no candidate like trump. people like trump or don't like donald trump. they know that he is very effective communicator.
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but if you're a good administrator but you can't communicate through this medium i think you can get very far. stuart: i think you're right, howard, i really do. i want to move to a much more serious subject now. a cleveland man allegedly taped videos, killing of an elderly man, then posted it on facebook. now this is, i very much a sign of the times story but do you think anything can or should be done about posting this kind of video on social media? >> yeah, absolutely. this was a failure on the part of facebook because it took several hours to get that facebook-live video down. one of the things we have seen ediesme of these recent mass the perpetrators sort of crave public recognition. with facebook live you can now broadcast yourself doing anything. i can see where it is hard for giant social network to police every single thing.
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once it is happening, it shouldn't take hours for facebook to spring into action. it was horrifying situation. we don't know whether all the murders claimed by this guy in cleveland actually took place or he is a responsible but i think it's a significant failure on the part of facebook. stuart: is it a free speech issue? i'm not defending murders on live television or live facebook, i'm not defending that, but it does encroach to some degree on the whole concept of free speech, doesn't it? >> well, that is an interesting dilemma. i'm a huge free speech guy. i don't think things should be taken down just because somebody finds it offensive. when you're talking about criminal acts because there have been other incidents, rapes, for example, sexual assaults broadcast on facebook live, that is where i think there is a clear red line that society can draw, that facebook can draw, any social media company can draw without getting ensnared oh, are we i think fromming on this person's right. you don't have the right to commit crimes. we don't necessarily have to see them broadcast live through social media.
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stuart: interesting, howard, no impact at all on facebook's stock which is still very close to an all-time record high. that is the way it is i guess. >> facebook didn't drag anybody off of a plane. stuart: i knew you would get back to that somehow or other. that story has legs, does it not? >> sure does. stuart: howard kurtz, thanks for joining us, sir. see you soon. >> all right. stuart: next case, turkey's erdogan win as referendum to expand his powers dramatically. colonel ralph peters is with us. what do you make of this? i think this turns turkey into a one-man rule country, not good. >> formalizes what already existed which was a one-man rule country. a state that is heavily driven by islammism, affiliated with the muslim brotherhood, you have to give credit to president erdogan of turkey. he was smart.
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unlike morsi in egypt, he tried to do all the islammization at once. he has taken a decade 1/2 in erred he dough juan in turkey, he used democracy to break democracy. he used the law to erode the laws. he used constitution to dismantle the constitution. he has been very, very good. stuart, we're left with nato ally is essentially islamist, does not share our values and making missive in the middle east and it will not end well. stuart: turkey i don't think will get into the european union. they applied a long time ago. they're waiting to get in. they have the terms to get in. i don't think it is going to happen. >> absolutely not. paraguay at this point would abettor bet for the european union. a better point about this, erdogan didn't win this, he stole this. the opposition were not given access to the media. opposition press has been closed down.
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this guy after the coup jailed 50,000 people. he has more journalists in jail than china does. that is quite a stretch. he fired 100,000 professionals, doctors, lawyers. used the coup as a excuse to get rid of political enemies. then he declared victory yesterday before the returns from could have been in. it's a narrow win, 51-49. i just think the books were cooked on this one. france will be interesting one. stuart: that is another problem for europe, isn't it? because the communist candidate, i think he is a trotskyite, he made enormous leaps. he he is running right behind the two leading candidates. what do you make of that. how on earth can france go forward with a far right leading candidate and a communist fast catching up? >> you used a bad word, former. france doesn't want to go forward. france wants to return to an idyllic time that never existed. you had -- it is so notable
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because the traditional parties have all collapsed in this race. the only traditional candidate is really essentially out of the endgame race. so you look like marine le pen, anti-american, pro putin, bang rolled in part by putin, she was going to be a runoff candidate along with mccone, a young technocrat, a liberal really conservative, running independently, very strong, ve appein into the mix comes sean luke, unreconstructed economist who believes work is, ebola. we want to exterminate it. his top tax rate for highest earners will be 100%. like 1960s britain. stuart: i remember it well. >> france is this country where ideology quickly becomes pathology. you have a three-way race between somebody who never got memo that the soviet union
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failed, a neofascist on the right, by the way any american conservative who thinks marine le pen is a good bet, uh-uh. bad. and then you have mccrone. he is the only one, if he wins, markets should be steady of the euro will climb a bit. the commie or marine le pen the neofascist, they win the economic disruption will be profound. stuart: well-said, you are absolutely right. if either of them win, the european union is finished, the euro is finished and the dollar goes straight up. it goes to the moon with all kinds of disruption elsewhere. colonel, out of time. ralph peters, thanks very much for joining us. >> thank you, stuart. stuart: see you real soon. thank you. coming up we'll describe this as an all-out brawl at a trump rally in berkeley, california. the left got involved. there were fistfights up and down the street. the president says those protesters on the left were paid to be there.
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we'll have details for you in a moment. ♪
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ashley: congressman ron desantis, member of the freedom caucus says a tax plan is coming relatively soon. see what congressman jim renacci
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had to say on that. >> i'm a business guy. i probably wouldn't have left until we got it done. i continue to move forward we have to get this done. as you heard the president say, it's a starting point for tax reform which is another issue we have to get done. i hope we get back and get our feet on the ground running and do more than just one thing. the budget will be an issue. the affordable care act, repeal and replace bill will have to be. tax reform. we have to move all the things forward. i'm sure we can get this done. ♪
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stuart: it is still a solid rally. this is the week when we start earnings reports from major corporations. netflix today at 4:00. the so far the market expecting strong profits. we're up 85 points on the dow, 20,500. friday, eli lilly and insight said the fda did not approve their new drug application for rheumatoid arthritis treatment. big-time red arrows right there. delta air lines will offer customers, wait for it, up to $10,000. they're trying to avoid a united-like dragging incident. by the way united now says it will not kick off passengers already seated. let's take this one at a time.
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liz, delta, up to 10 grand? liz: yeah. stuart: to take another flight? liz: what delta is saying, don't involuntarily remove people, you can entice them. you don't need new legislation or rules. let the market set it. what they're saying is, $9950 if you complain to supervisor, depending on value of your flight. if you go to gate agent, get up to $2,000. that is the play, gate agent you can get 2,000, you want to leave, if they're saying you're overbooked or go to supervisor rer on cash orb gift card from walmart or target. ashley: from a supervisor. stuart: if you're united flight, on the plane, you're seated, they will not take you off if they want that seat for a crew member, that's correct. liz: that's correct. but you could be removed. they're saying the crew, you have to show up an hour early. we're not give up the flight if you just show up, your seat, rather. stuart: progress.
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that story still has legs. protesters around the country were demanding president trump's tax returns. they had these demonstrations ault around the country. at berkeley, california it got truly violent of the as of this morning, president trump wants to know who is paying these people. the organizations, who paid them. he quotes, here is the quote, someone should look into who paid for the small organized rallies yesterday. the election is over. david webb joins us now, siriusxm patriot host and fox news contributor. >> morning. stuart: you know what worries me here? this is an escalation of the violence. not so much who paid, i got that. >> right. stuart: this is escalation of violence of the you see groups of people looking for a fight in our streets. i don't think that is good. >> well, if you think about it, quick track, 2010 tea party movement where did you have violent rallies. there were arrests at berkeley than there ever were in the history of tea party.
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these groups, i woke a friend of mind up in california, after i got the topic, i said what is going on. it is same groups we expect. they're organized i it is not the violence, at a p-trump rally, violent protests. people showed up interacted in that park, in a rally organized and publicized where the violence began. nobody on the right in the tea party movement brought sticks, knives, mace. they showed up to talk about policy the other side, what are they there to protest? stuart: that is what i couldn't understand. all they want is to see president trump's tax return, and you have protests all across the country? that was clearly organized. >> they don't care. they don't know the difference. they probably couldn't read the tax return and tell you what it means. earnings statements will tell you more about somebody's wealth and that is all out there for them to see. on the other side, this is like
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occupy wall street. organizing for america that obama built. it's a top-down build, organized structure to disrupt and change the narrative. it is irrespective of the political process. stuart: i don't think the country is buying this. i don't think the country is that enthused about seeing president trump's tax returns. but i think they are beginning to turn against vie lendings in the streets by the left. all dressed in black and beating people up. >> let me say this to americans out there. we all have a right to protect ourself if we're assaulted, verbal assault or otherwise. when it comes to battery you have a right to self-defense. i'm not advocating violence f someone wants to yell at me i can ignore that. if you put your hands on me or put your hands on another american they have the right to self-defense. these little violent snowflakes and these "black lives matter" or anarchists or black masked idiots out there, they will run into somebody one day who is going to take them down.
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stuart: well, i don't welcome that. >> i don't but people need to it understand something. you have the right to defend yourself. and at no point should be attacked for exercising your first amendment right. stuart: do you think the level of street violence as we saw in berkeley over the weekend we've not seen that in a generation? i don't think we have. not since the vietnam war. >> we haven't. recent times, stu, all the arrests, 20 arrests, there weren't that many arrests at tea party rallies where hundreds of thousands millions over years went out there. it tells you come from. it comes from soros, open society groups. stuart: david webb, thank you very much indeed. up next, tax reform high on the president's again today as congress's easter break rolls on. will we see any cuts by this summer? i don't think so. let's see what grover norquist says about that he joins us next.
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stuart: well, once again some of you are taking issue with my views on tax cuts. a couple of comments. here they come. first of all from mike. you need to find something else to talk about. taxes, taxes, et cetera.
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there other things boeing on in the country and the world. yes, i understand that. i will get to that comment in a second. now mary says, i would love to see varney working at white house but he would probably get fired after mentioning taxes for the 500th time on the first day! fair point, mary. thatthat is a fair point. i concentrate on tax cuts because that is the essence of the trump program. it is the way we get the country moving. no tax cuts, no growth. ashley: big part of which got donald trump elected. but i will say i was out with a bunch of friend yesterday for a nice afternoon. stuart: did i come up. ashley: stuart, cut my taxes, varney they said. first thing they said weave to get tax cuts so stuart can talk about something else. stuart: it is not a person that thing. ashley: i understand. stuart: the economy, the country needs tax reform. ashley: i want more money. stuart: that too. liz: this is like the 600th time. the other thing that i feel like
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you're repeatedly saying because i see it too, d.c. doesn't see the problem because d.c. has been in boomtown era for a long time. they're in a able. the triangle has per capita more income than silicon valley. ashley: makes me angry because republicans blown the obamacare repeal. the whole thing is incredibly frustrated. stuart: it could be all we get this year in a cut in corporate tax rates. ashley: that is not good at all. stuart: that is not good enough. that is my opinion. liz: agreed. stuart: and i'm sticking to it. i'll be back with more on taxes. [laughter] edward jones. i'm glad i caught you. well i'm just leaving the office so for once i've got plenty of time. what's going on? so those financial regulations being talked about? they could affect your accounts, thanks. yeah. that would be great. we've grown to over $900 billion in assets under care...
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. stuart: there is a growing sense of frustration with congress, isn't there? they're still on recess. they don't return for another week. and even when they get back to work, they will be taking
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their long summer recess by late june. they are not getting done what voters wanted them to do, are they? it's a different story with the executive branch. very different. this president is a workaholic, and he's getting things done. growth, regulations are being cut. wherever possible, red tape is being tossed out. and a foreign policy, this president has done a 180 from the obama years. he's challenged syria, russia, and iran. he's challenged north korea, he's pushed europe, and he's gotten some help from china. he's doing what he said he would do. getting to grips with our domestic problems requires congress. it requires a united republican party. and here's the disappointment. they can't get over their divisions. they are not getting things done. consider this. congress returns on april 24th. four days later, there's the budget deadline.
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so don't expect any immediate acts on health care reform and virtually nothing coming up immediately on taxes. it really shouldn't be like this. congress has work to do. get on with it. may i suggest the following? congress should stay in session until they've got something done on health care and/or tax cuts. if they have to work on july the 4th, so be it. we, the people voted for real change, and we want to see it. the third hour of "varney & company" is about to begin. ♪ ♪ . stuart: you will like this. high of the day, the dow industrials up 103 points, 20,550. why? it seems that investors are expecting good profit reports, which start to appear 4:00 this afternoon. netflix will be the first, looking for a solid performance there and for the rest of the week.
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that is why the dow is up 100 points this monday morning. the price of gold is up. that's our flight to the safety, a safe haven of gold. when you've got geopolitical turmoil like we have now, investors look for safe havens and gold is getting close to 1,300 bucks an ounce. here's another safe haven. america's treasury sectors. the ten-year treasury now yields all the way down at 2.22%. the money pours in, prices it go up. 2.22. the lowest we've seen in a long time. amazon, a lot of speculation, and that's what it is, speculation that it might be interested in buying bjs wholesale club. we'll have more on that in a moment. amazon up nine bucks. look at apple. it has received a permit in california to test-drive cars. that would be self-driving cars, autonomous cars on public highways. how about that? very small stock, not a household name but down big
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after the company said its experimental lung cancer drug after it failed a mid-stage study. it's down 20%. the freedom caucus member says they are close to a deal on, heck. roll tape. >> a core thing that we have to do it deler lower premiums and more choice on private insurance and that is the reason why people dislike obamacare because their premiums have gone up and their deductibles have gone up, so that's really what we have to do. and i think if we can get there, i absolutely think we can pass relatively soon. stuart: okay. relatively soon. and remember, please, this is the freedom caucus, which has stopped the health care reform bill that came through about three or four weeks ago. it was the freedom caucus that stopped it. americans for tax reform president. all right. grover. i'm tired of this. i'm tired of hearing him say, oh, we're very, very close but not really close and nothing happens.
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can't you guys whip them into shape? come on. >> well, there's a very interesting question because one of the challenges is we should have had 218 votes plus to get rid of a trillion dollars in obamacare taxes and more than a trillion dollars in obamacare spending and make a series of serious reforms. and then we would have several weeks ago been en route to tax reform. but a small group in congress, the freedom caucus voted with the democrats or said they would vote with the democrats to kill the whole thing. unless they got certain things. it wasn't even clear, still isn't clear if some of the things they want you can legally do under the law. given what you can do inside reconciliation. they hadn't bothered to check that. if you had a good idea, bring 218 votes in the house to the table and one could consider adding it to the bill. but instead, the freedom caucus wants paul ryan to do all the work for them to go badger everybody else for
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their project and by creating a caucus of people who said "no," they created two other caucuses who also say "no." you have the moderates who are worried about how this is presented in the establishment press, and then you also have all of the appropriators who love spending that trillion dollars. and the freedom caucus said we're not a reagan republican party. we're a bunch of different gangs and any 25 of us can walk off the field with the democrats and vote with the democrats to kill trump's agenda. the freedom caucus began this. but there are now other people out there going, hey, we can put together 25 people and sink it. so even if the freedom caucus gets back and rejoins the republican party, they've already unleashed this dynamic, which if they -- stuart: yeah, look, it's so bad, this idea that they're very, very close, i'm just not buying it. >> it could be true.
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stuart: okay. but it's so bad that the whole idea of tax reform as a complete entity, that's been pushed so far back, i'm to the point, grover, of saying the only kind of tax cut we're likely to see this year is a cut in the corporate tax rate. that's all we do get. and that's what i'm saying. do you agree? >> i disagree for the following reason: we've thought about that in the past. there was even a hope that obama might do that. false hope but some people thought he might. to pass a corporate tax from 35 down to 20 or 15, you also need to bring the business income tax inside the individual rates. sub chapter s corporations. partnerships. that needs to come down at least to 25. trump ran on that promise, the republicans have made that commitment in their bill, and so if you were just going to do business taxes, cutting, you would have to do the
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corporate and the pass throug throughs as well. stuart: this is not good news. i'm sorry. it's just not good news. >> it's a challenge. stuart: that's the best we can say. but, grover, thanks as always. keep pushing tax cuts, tax reform, because that's what we need more than anything else. check this out. happening in austin, texas. it's a kiss kia contest. kia as in kia. people lining up at a car dealership. they have to keep kissing that car. the last one with their lips on it wins the car. we're watching this for you because i know how interested you are, and we will continue to watch it for hours and hours. liz: and hours and hours. stuart: oh, boy. next case, this. the w york post reports that the bj wholesale club is up for sale and that amazon may have some interest in buying bjs?
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ashley: yeah, it's a bit tenuous. it has a lot of physical space. bricks and mortar. would amazon be interested -- they're looking to get 4 billion for this. is amazon really going to want this kind of space? maybe to fill it up with all their goods that they can use maybe groceries so people can do the pickup service. that's the key to this. the question is, and we had other analysts on today saying it's not worth it. don't even look at it. they are mildly interested in acquiring bjs. stuart: i think walmart has opened up a can of worms when it allows you to online order and then you pick it up. drive your car and put it in the truck. if that's a success, maybe amazon is looking to do something similar with bjs. you order online, drive up, pick it up. ashley: they have giant facilities, bjs. stuart: they're ready to go. ashley: yeah, . stuart: walmart's at 73 and
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amazon is up six, seven, eight bucks at this point. there's a manhunt in cleveland after a video was posted to facebook by the killer, we believe. this is all kinds of questions. liz: yeah, and there's breaking news just moments ago, the police are now asking the public for help. what happened was steven stevens, 37 years old pulled up in a white fusion in east cleveland next to an elderly man, and he's live streaming on his phone. he was basically recording it. and he said i found somebody i'm about to kill, and he shot this 74-year-old man, shot and killed him. he is armed and dangerous. he's driving a white ford fusion. he's -- they're looking for him in indiana, pennsylvania, new york. that video is up for three hours on facebook before facebook pulled it down. stuart: that's the problem, is it not? how come it took three hours to take down the video of a
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murder? how come? and how can you do it faster? and could you? liz: mark zuckerberg keeps saying we do rapidly but basically asking the public is to police it. stuart: all right. tricky subject. it doesn't apply to the stock, no impact there whatsoever. all right. now this. dana loesch nra spokesperson taking on the new york times in a new ad. she's with us next but first, listen to this. >> recently, the new york times in its bid to remain relevant and influential tried to disrupt fake news as promoting itself as truth. ♪ ♪ who are you fooling, new york times? we asked a group of young people when they thought they should start saving for retirement. then we asked some older people when they actually did start saving. this gap between when we should start saving and when we actually do is one of the reasons why too many of us aren't prepared for retirement.
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just start as early as you can. it's going to y off the future. if we all start sang a litt more today, we'll all be better prepared tomorrow.
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prudential. bring your challenges.
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♪ ♪ welcome to holiday inn! ♪ ♪ thank you! ♪ ♪ wait, i have something for you! ♪ ♪ making every stay a special stay. holiday inn, smiles ahead. whether for big meetings or little getaways, member always save more at holidayinn.com . stuart: our next guest has launched a truth campaign against the new york times. watch this. >> we, the people have had
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it. we've had it with your narrative, your propaganda, your fake news. we've had it with your constant protection of your democrat overlord. your refusal to acknowledge any truth that upsets the fragile construct that you believe is real life. we've had it with your pretentious tone assertion that you are in any way truth or fact-based journalism. stuart: oh, i can get behind that one, all right. dana loesch, the lady whput that out is with us now. nationally syndicated radio host and nra spokesperson. i tell you, right from the get-go, dana, i'm tired of the new york times trying to define my culture. america's culture. i'm tired of it. you too, i guess. >> absolutely. absolutely, stuart, and thank you so much for having me. and i don't think we are the only ones who are tired of the new york times trying to determine the narrative every single day. in fact, there was a media correspondent that right after the election, michael, who had remarked that the new york
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times believes that in its manhattan boardroom, it gets to set the agenda for america every time that all of the editors get together. they are that unbelievably arrogant, and he spoke to the unbelievable bias that the new york times demonstrates every single day. now, i have covered media for a good part of eight, nine years now, i think at this point; right? when our former president got into the white house. the new york times has been a stain on journalism for quite some time. it actually degrades the practice of journalism with the practice of bias and the practice of partisanship because they only want to print what it fits with their agenda, and they have done this with almost every major issue. they have done this obviously with firearms when they tried to go after law-abiding americans, for instance, in shawing, they vastly underreport how federal prosecutions for criminal use of firearms have dropped dramatically in the city of chicago, yet the crime rate still increases and just considering the situation with benghazi, stuart, just last
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year they were still blaming the 9/11 terror attack in benghazi on a video. i guess hillary clinton forgot to send them their latest talking point. stuart: good sarcasm there, dana. now, president trump's first 100 days are up on april 29th. i mean, it's not that far away. i presume that the new york times will consider it a failure. the first 100 days of failure. what says dana loesch? >> oh, i'm sure they will. i mean, they've already said first 100 days of horror or something to that effect. completely unrealistic. they just dislike the trump administration because they're progressives and the trump administration is not. and, in fact, stuart, i'll say this. during the primary elections for the republican party, i was quite critical of a lot of the primary candidates, particularly president trump at the time. and i have to say that i am incredibly pleased and encouraged to see the actions of this administration in these first 100 days.
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there have been a number of steps that the administration has taken that i think is encouraging to all americans, we see the stock market reacting to the promise on budget reform as well as the president's discussion of tax cuts. we also see the president has signed in a repeal of this legislation from the era that removed due process and stripped them of the natural right based on what a bureaucratic go to thought whether they were crazy or not. also, this administration has allowed states to decide how they want to allocate and handle funding for where concerns planned parenthood. of course, we have supreme court justice neil gorsuch, and i think foreign policy has changed quite a bit from the previous eight years. americans approve. yes, 180 completely, stuart,. stuart: okay. now, you're an nra spokesperson and president trump is going to speak at the nra convention. i think it's the first time we've seen a president, a sitting president speak at the nra convention. i think since reagan's days.
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1983. how do you pull that off? >> you are correct. well, because the trump administration has been a supporter of gun rights. the trump administration has been a supporter of the natural right to practice and exercise your second amendment and of course that completely goes in with the nra community and the people who just simply -- and, by the way, the nra is incredibly big tent, and i don't think they get enough credit for how big tent they are. because they're a democrat nra members. my family is 99% democrat. i'm one of the only conservatives in my family and my family are all nra members. and these blue-collar workers, these people who simply want to have the pro-choice, equal right of they like what the administration is doing, particularly on gun rights. stuart, for some people, that was people like justice gorsuch and the issue of national reciprocity, those are the two issues they voted for trump. so it makes sense that he's going to speak at the forum .
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stuart: dana loesch, once again you can come again. >> thank you. stuart: first, a failed missile launch in north korea and iran says it doesn't need any permission to build its military up. more on that in a moment. and vice president pence paid a surprise visit to the dnc, which separates north and south korea. listen to what he said. strong stuff. >> nowhere is more evident than with our region to confront the most dangerous and urgent threat to security. the regime in north korea. since 1992, the united states and our allies have stood together for a denuclearized korean peninsula. we hope to achieve this objective through peaceful means. but all options are on the table. the era of strategic patience is over. your insurance company
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charles: well, well, well, high of the day. now up 100 points. maybe the investors think that the profits report this week would be very good. that's why we're up so much. 20,564 is where we are. now this. there was a failed missile launch in north korea, and i'm sure you heard all about that. but, liz, i want more on this
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speculation that it was the american intelligence, which fried the rocket on the launchpad. liz: yeah, former seetary don major, speculating that. what you know? there's capabilities out there. the u.s. has successfully done things like this to interrupt launches in the past. john mccain was asked about it. he said i don't think so, but i would not rule it out. and as ashley's pointed out, president obama three years ago told the pentagon, yes, develop these plans to do cyber hacks to disrupt launches like this. . stuart: okay. one can hope, i guess. and now iran was obviously watching what was happening in north korea, so you tell me what their reaction was. ashley: well, one of aggression, to be honest with you, stu. president in iran says "we don't need your permission to build up our military to add to our missile stock because we just merely want to defend ourselves. and we don't need permission to do that. let's point out that he's in the middle of getting very close to a reelection
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campaign, so the tough-talking rhetoric is not surprising from iran. stuart: the truth is that president trump has done a 180 on a foreign policy to what we've had for eight years from president obama. it's a direct 180 whether it's north korea, whether it's syria, and all the rest of it. ashley: yes. stuart: you're bound to get some reaction to that. as you said in the script, it's ruffling feathers all around the world. liz: saber rattling. stuart: that's a pejorative term. liz: it is. newt gingrich said during the cold war -- the cold war never turned into a shooting war; right? so that saber rattling was -- stuart: confrontation. liz: yeah,. stuart: it's no retreat. we stand like this. liz: that's right. stuart: no longer like this. liz: that's correct. stuart: a move. this is another one ruffling some feathers. the trump administration making the white house visitor log private. how about that? judge napolitano is next. at ange
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. stuart: freedom caucus member says -- oh, he's saying it again. we're close to a deal on health care. roll tape. >> the core thing that we have to do is deliver lower premiums and more choice on private insurance. because that is the reason why
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people dislike governor premiums have gone up and their deductibles have gone up, so that's really what we have to do. and i think if we can get there, i absolutely think we can pass something relatively soon. stuart: relatively soon. any day now. come in, chip roy, he's with the texas public policy foundation, former chief of staff to senator ted cruz. i've got to tell you, i'm royally annoyed at the freedom caucus for constantly holding up a vital piece of legislation. are you with me on this? >> no, sir. with all due respect, i think that congressman and i think that the house freedom caucus deserve a great deal of credit for being the leaders in washington for standing up to repeal obamacare. when the house leadership and senate leadership have been ssing in action when it comes to their commitment to the last four election cycles. thhouse freedom caucus are the ones sitting at the table negotiating and frankly, it's the moderates and the
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republican party that -- the tuesday group, so-called, that are saying they're not even going to negotiate and these guys are willing to sit down and honor their commitment. stuart: so because the freedom caucus says "no," we've still got obamacare. because the freedom caucus says "no," we're still months -- we are now months behind any concept of tax reform or getting rid of dodd-frank. everything is delayed. everything is held up. nothing has been achieved in the president's legislative program. nothing. nothing at all. >> well, stuart, really, obamacare is not a stepping stool to tax reform. stuart: it's part of it. >> but it's a central pillar. stuart: it's part of it. if we had gotten this deal on obamacare, you would have gotten rid of obamacare taxes with a 51 vote majority in the senate. now we have not gotten rid of obamacare, we've still got the
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taxes, and it might take 60 votes in the senate to get rid of those talks. >> well, the folks that are not responsible getting rid of obamacare are the house republican leadership who refused to put forward a bill to repeal it. stuart: i'm sorry. look, i'm sorry. look, i know i'm a little bad tempered about this. >> that's all right. stuart: you're not prepared to be a party which governs. our voters, the people of america gave you the house, the senate, the white house, 1,000 seats in logical legislatures, but you're still not prepared to get out there and govern. you can't give a tiny little inch so that we could move forward with the whole program. >> absolutely steward. the ones giving an inch are the house freedom caucus sitting at the table right now. whereas the tuesday group are reducing to negotiate. . stuart: do you realize how stupid the republican party looks? any idea? >> i think the -- the republican party looks ridiculous because they're reducing to lead. they have the ability like a said.
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they have the house, the senate, they have the white house, and they have the ability to repeal obamacare if they have the willpower to put it forward. look, obamacare's built on the back of regulation, subsidies, and what are we getting now? more regulations and more subsidies and increased medicaid expansion. the house leadership needs to do is send over a full repeal bill and honor their commitment. the house freedom caucus are sitting at the table willing to negotiate when it's the tuesday group and the house leadership that are not. stuart: do you hold much faith in the brief sound byte as we introduced you saying, oh, we're very close. do you think we are very close? >> my understanding is that there are a lot of conversations that have been going on in the easter recess, and they are getting closer to a deal. my -- look, we share the same goal. we want people to have access to high quality health care. we want to reduce the tax burden in this country, we want to make sure people can afford insurance. but the only way to do that is to reduce premiums through competition. and the ryan proposal would not have done that.
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what they're saying is they're reaching across the table and they're close to a deal. i think there's a chance they can get there. my concern is that they cannot frankly give in too quickly because any deal that retain the regulatory structure of obamacare will be doomed to fail and will continue for premiums increasing indefinitely in the future, and that's unacceptable for the american people. stuart: okay. chip, it's unacceptable for you, maybe. but i think the american people might think differently. but, i'm being pejorative, i'm losing my cool here. chip, thank you very much for coming with us. we want to talk to you again. thank you very much, sir. now this. the trump administration says it's not going to release logs of white house visitors. all rise, judge andrew napolitano is here. >> are you going to bite my head off too? . stuart: i didn't bite anybody's head off. >> i actually like it when you're like that. stuart: you do? i don't think the viewers do. i better knock it off, so to speak. now, under the obama
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administration, who visited the white house is open for all to see; is that correct. >> yes. stuart: and now the trump administration has closed it down and said, no, it's private. >> i don't think they'll succeed. because the record-keeping entity is the secret service, it's not the white house. and the secret service is subject to freedom of information act request. now, the secret service could decide to block out a name for security purposes. but the blanket blocking out of all names simply won't pass. so basically what the white house is doing is forcing people who want to know who's visiting the president to file lawsuits each time they want to know. and the white house or the secret service, whoever resists the lawsuit, the proper party in such a lawsuit, the proper defendant would be the is secret service would ultimately lose those litigations because the freedom of information act is written very broadly, every proceed, doubt, or conflict is
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in favor of revealing rather than concealing. stuart: see, i'm not sure where i stand on this. i want open government but at the same time, i don't want a fishing expedition by every leftist that wants to prove that so-and-so is a bad guy. >> to president obama's credit, i mean, we learned certain people were there hundreds of times during the year. he just let everything out there. and i guess president trump looks at it differently, but i don't think he'll prevail. stuart: who's side are you on? >> i'm in favor of openness, that you know. stuart: i suppose you're in favor of the freedom caucus opening up -- let's not get into that. >> i am, but i'm too close to you, and you would have whacked me. stuart: i would never do such a thing. because i know that would be an assault and you would get me for everything i've got. >> that would be the next case. stuart: pricewaterhouse coopers. they brand themselves as -- quoting now. the place to work for millennials. that slogan backfired. tell me what that's about. liz: yeah, two workers, one in
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their '40s, one in his 50s said wait a second. you guys have this campus portal, meaning this website for college studentso come in and apply for jobs. they said we tried to apply for these jobs. we were really qualified. they were denied the jobs. so they're now suing in san francisco saying this is age discrimination. now, we saw single the financial collapse the older worker, the unemployment rate is higher. it's pretty high. so is this going to be the new wave of age discrimination lawsuits as the baby boomers get older? . stuart: why don't we ask the judge? >> everything e mac has said is correct, and i think the plaintiff will prevail. because the statutes just like the freedom of information act are supposed to be determined broadly, liberally, and in favor of the people who is they've been discriminated on the basis of age. now, look, one could understand why anybody would want to hire a 25-year-old and
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train them and keep them for life rather than a 40 or 50-year-old who learned the ropes elsewhere. but that's not what the law says. you are over the age of 40, you are protected. interestingly, there once was a cap on that statute. you had to be between 40 and 70. they removed the cap. there is no upper cap. also, again, showing the public policy of the country is to protect people from discrimination on the basis of age. so if being young is a bona fide qualification like a lifeguard, you need someone to do it in their youth, that's different. but unless age is a bona fide -- why are you laughing? because i looked at you when i said lifeguard? [laughter] . stuart: because the whole world knows that i can't swim. therefore, even at my age -- >> there's no requirement from the socialist school of economics in london that you swim before you graduate? . stuart: there was no swimming
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pool in london available in my day. not like these youngsters these days. >> so, again, bona fide qualification is something attributable to youth, it's okay. beyond that, you have to be blind to the person's age if they're over 40. stuart: okay. i think we'll take it. you can't swim. stuart: no, i can't. i've built a couple of swimming pools in my life. >> but never put a tow in the water? . stuart: i can get in. i know how to float. they call me bob -- another joke. let's check the market. get me ousted, please. [laughter] well, look at this, judge. are you laughing at that? >> no. it's good news. stuart: you're making money today, sir. come on. 122 points up. that's a market i can live with. oil up three. because oil has gone up to the low 50s, we have gasoline averaging $2.40. that's for regular. that's the national average.
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it has gone up 11 cents in one month. arconic, i think that's how you presumption of innocence it. it's the new name for alcoa, which was the new name for the old aluminum company of america, if you remember. the chief executive there has resigned following pressure from a hedge fund management company. they wanted to overthrow the board's directors, apparently they're going to do that and the stock is up a buck. arconic up 27. look at amazon. raising the price target to 1,050. the old price target was 1,050. the old target was 900, they passed that. they move on to $1,050. amazon reports its results april 27th after the market closes. watch that. now this. new study from heritage says if president trump manages to repeal dodd-frank, he could
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add $340 billion to the economy. can fine joins us in a moment. he's a banker who met with president trump at the white house. and watch out, california drivers. apple receives a permit in california for test-drive cars on public highways. watch out. we'll be back.
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>> i'm nicole petallides with your fox business brief. after over 138-point loss on thursday and stock futures started off in the red, things
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have turned around. as a matter of fact, we are seeing the dow jones industrial average up now 260 points, 20,570. the s&p 500 gaining 12 and some optimism on earnings. take a look at some of the leaders on the dow jones industrial average, boeing, verizon, ibm, united technologies, two of which are reporting earnings this week, including verizon and ibm technology. which has really outpaced the s&p 500 in the 2017 names such as facebook and amazon. up 20%, netflix reports after the bell today. watch subscriber growth up 18% this year and alphabet, google up 7%. also walmart to buy. watch for that as well. start at 5:00 a.m. on fox business. all the breaking news you need.
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. stuart: never mind all those dodd-frank regulations. the banks are still making a great deal of money. look at those stocks go. can fine joins us, and he's banker and ceo. thanks for joining us. >> thanks, stuart. glad to be here. stuart: it was you who took the hit. the big banks could afford it. is that it? >> that's the bottom line. we were disproportionally impacted. stuart: are you doing okay despite dodd-frank or not as well as the big guys?
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>> well, it's all relative. we're doing better than we were during the great receion, but we're just now geing to precession levels. we really haven't surpassed prerecession levels, so 15 years. we're getting back to where we were about 15 years ago. stuart: not too long ago, i was into a smaller bank and not one of the big guys asking for a mortgage, got it, took a lot of work, a lot of paperwork, and the banker said to me, you know, dodd-frank added about $600 worth of cost to each and every mortgage that we prepare, that we issue through our bank. is that pretty accurate as far as the community and smaller banks go? >> i would say overall that's pretty accurate. i would say it's anywhere from 4- $700 depending on the bank and the type of loan. but, yes, that's the ballpark. the mortgage regulations as a
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result of dodd-frank are horrendous on the community banking industry. because we're not volume lenders, so we take it one at a time and so that cost just fallsous very heavily. stuart: now, the heritage foundation have come out with, they say, look, if you come out with dodd-frank entirely, you boost the economy by $340 billion. okay. that's over ten years. and you boost gdp 1% each year. i take it it would do a lot more good for you than it would for the overall economy. no. no. the question -- i'm sorry. the question really is can you do it? can you get rid of dodd-frank relatively easily? >> well, the answer to that question is "no." you cannot get rid of dodd-frank relatively easily. i think there are parts of dodd-frank that could be significantly modified that would relieve pressure on community banks. you know,
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the icba has its plan for prosperity, and i emphasize prosperity. we have a legislative proposal that would do a great deal to relieving the pressure on community banks and, yes, many changes to dodd-frank are contained in our plan for prosperity. stuart: okay. let's hope you can push it hard because we're a lot of people on our production team have had real trouble doing the paperwork to get a mortgage, and we all blame -- it's awful. it really is awful. ve got pple around this table nog their heads vigorously as we speak. >> so am i. stuart: get out there and do something with our mortgage paperwork. >> we are. i pledge we are going to do a mortgage situation. stuart: a pledge? now, that's what we're going to take to the bank. you're all right. sir, thank you very much. how about this? apple has received a permit in california to test-drive self-driving cars. liz: yeah, robot cars. so three luxury 2015 lexus
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suvs, it's a very crowded robot car market. tesla's in there in california testing, google, gm, ford wants to do a robot car in five years. to ashley's point, it takes a lot of money to build cars, maybe it's the software they can sell. stuart: it's a shell. the car is a shell with a big computer inside driving all the parts and telling you where you're going, i guess. roll on those days. liz: that's right. stuart: but watch out, california drivers. i've got to show you this again, please, happening right now in austin, texas. this is kiss a kia. it's a contest. 20 people lined up at a kia dealership. they have to keep kissing the car. they're going to keep their lips on it. the last person kissing wins the car. that's why they're so intent on what they're doing. ashley: do they get to go to the bathroom? . stuart: i don't know about that. wait. i've got a lot more for you. how about this?
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a new kfc sandwich. we've got one on the set. that's it. it's called the zinger. big hit globally. first time coming to america. i'm not going to try it. on you are stage administering austin is going to take a big bite. by the newly appointed kfc president and austin will eat on camera. back in a moment
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. stuart: kfc is launching a new menu item. it has been a big hit globally. now it's hitting the u.s. market for the first time. and that's it. it's called the zinger. it is a chicken sandwich. and look who's here to present it. kf c's newly appointed officer. this is worldwide? >> yeah. it's the best-selling sandwich in 25 countries. the reason why it's prepared in the store in the fast-food restaurant. often they're cooked in a factory, ours are freshly prepared. stuart: is it spicy? call it zinger. >> so it's spicy, but the flavor builds.
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it's a taste nobody has had before, and i'm pretty sure it's going to become the best-seller here in the u.s. stuart: we're going to ask our stage manager. >> if i must. stuart: munching away with a camera on him. i've got a f more questions. how much? >> so that's the other thing. chicken sandwiches in combo meals can be six, seven dollars, we're going to serve this at a $5 fill up. stuart: so all you get is that sandwich? >> you get a sandwich, cookie, and drink for $5. stuart: is that just the launch? is that all it is? >> well, our plan is to have $5 for the foreseeable future. >> a lot of flavors. sorry i'm distracted by the amount of flavor. stuart: you like it? >> it's delicious. it really is. stuart: is there any spice in this? >> there is. stuart: would you pay $5 for that and a drink and -- >> schedules cookie? . stuart: wedges? what? >> wedges like a potato. >> i know what a wedge is. but i'll take the wedge.
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stuart: you have to reequip your whole operation? >> yeah. we've been actually working on this for two years. we spent $80 million upgrading all of our back house equipment and then spent the last six months retraining all the staff how to make it fast. because ultimately on lunch, we have to win on speed. stuart: how is it that you're so successful when the word fried is part of the name of your company. fried chicken when everybody is going towards natural vegetables and fruits and all of that kind of thing? >> well, it's funny. people want real-prepared food; right? the idea that cooks are making it in the back of the house is totally different than anything that's out in the marketplace. stuart: just got your first customer. >> your whole crew is going to love this thing. trust me. stuart: well, you brought a lot with you. kevin, i wish you the best of luck. when can i buy un? >> these will be available april 24th. stuart: next monday. >> and we have the most amazing campaign, and we're going to do a stunt i have never seen before in my 20 years of doing marketing. . stuart: what is it?
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>> i can't tell you. stuart: well, who's the new colonel? >> i can't tell you that either. stuart: does he look like the old one? >> this is our most handsome colonel yet. trust me. stuart: good luck, kevin. varney will return, if you're not careful. don't let dust and allergens get between you and life's beautiful moments. flonase allergy relief delivers more complete relief. flonase helps block 6 key inflammatory substances that cause all your symptoms, including nasal congestion and itchy, watery eyes. flonase is an allergy nasal spray that works even beyond the nose.
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kz >> quite a day on the markets. surprise, surprise. brand new week. this is the beginning of earnings season. maybe investors think we're going to get earnings. you right in line with that, li liz: they're right in line and looks like nothing will be getting done in d.c. >> if we get 10% overall
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increase i think the market heads south. ashley: interesting to see where go. >> you know, our time is up. we have only seven sections in the three-hour show. i can safely say, charles payne, it is yours. >> thank you very much. happy monday, stuart. i'm charles payne in for neil cavuto. remember the other business network, wink, wink was on tape. we'll tell you more what is ahead there. stocks shrugging off problems abroad. we'll lay out what you should be doing with your money. first our top story. north korea threatening us. vice president pence out with a strong warning to them. adam shapiro, with the latest at white house. adam? reporter: good aft

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