tv Varney Company FOX Business January 14, 2019 9:00am-12:00pm EST
this city, i've always said wall street people and businesspeople have been the most philanthropic in this country let's not -- let's not go after them and punish them. i do think and we've had this debate i don't think trickle down economics has been good for the country. >> so happy to be back with all of you. >> love you back. "varney & company" begins right now. stuart take it away. >> welcome back maria and good morning to you. good morning everyone. we're heading south of the opening bell. a great way to start the week there are a few negatives piling up china post a record 323 billion dollar trade surplus with america for 2018. in december, their imports from america toed luke a stone. that's a negative. it is profit reporting time. some analysts are pulling back estimates not good plus only a day away from the likely no vote on theresa may's brexit plan again that could be a negative. the dow is going to be down triple digits, and s&p 500 down about 19 and we're looking at a near 1% drop for the nasdaq
first thing this morning. all right, now day 24 of the shutdown, and here's the political angle. a majority of voters still opposes building of border wall and the president is unpopularity rating going up. but support for the wall has been growing over time and nine of ten republicans are now in full support of the president on this issue. the president is often wall teals that would reopen the government, the democrats are not negotiating at all. next question. you are buying gold, the price has been a going up recently this morning we have word of the creation of a largest gold company in world. new mining will pay ten billion dollar for conditioned's gold corporation. we said almost every day it is going to be a big day market selloff a snowstorm shuts down d.c.. and the president unleashes on his critic jeff bezos calls him jeff bozo "varney & company" is
about to begin. ♪ >> well here's news to california, pg&e enters bankruptcy protection, liz, this is all about the fallout from the wildfires. >> that's correct they need to do that to keep lights on to keep the energy flowing into the homes in that area to protect the cash flow for to do that. you know, striking thing about this story stuart, is how pg&e has been blame bid state investigators for the wildfires in california. there are at least 17 fires they've been blamed for in 2017, 11 was found to have violated state codes not clearing brush away from its powerlines 130 people have died in these fires not blaming thawfl on pg&e but saying large number of fires have been accused accusing pg and nerks state of california with starting them 1500 of the fireses in recent year.
that's according to "the wall street journal." >> it it tens and billions and d a half billion in cash flow. they're asking what did lights go out in california with bankruptcy? >> no, no, that's the point of it is to keep lightings on. got it thanks liz. sure look at the share price of the city, the bank they've just kicked you have a profits season. revenue did fall short and they're down one percent. come on in brian west bury first trust advisors i want to talk profit let's put the city results away for just a moment. i'm told that the analysts are expecting a 14% increase in big company profits this year compared to the same period last year. 14%. you agree your number? [laughter] >> yeah. i actually i think it is probably going to be a little bit higher. you know every season every quarter we get earnings reports say 70, 75, 78% of companies beat earnings estimates, and i think analysts have overplayed their hands. i think they've taken these down
too much. but let's just that i can that 14% figure for the fourth quarter this have year over the fourth quarter of last year. and realize that the s&p 500 is down about about 7% during that same period. which means that stock market relative to fernings is 21% cheaper today than it was a year ago. >> so wait a second brian you can if you did get overall you get a 14% jump in profits, that's real good? because we've got to compare it to the 2025% gains we were seeing late last year. >> well, they were, and we have to remember that -- those 20 to 25% gains were really induced by the tax cut if you look at underneath pretax corporate profits, they've been rising at about a 10% annual rate and i expect them to continue to do that in 2019. >> okay. when this -- when profits are going up, and
stocks are going down, that means that market is getting cheaper. it is the opposite of what we had in 1999, 2,000 when stocks were going up and profits requester going down. so this is i think, a good environment for stocks, we just have to wait for catalyst to turn this thing around. >> tell me about the government shutdown we're now getting into the 24th day. can you give me a number on how much it will take down gdp how much will it take out of our economy? >> yeah. well at the most, this is the way i would look at it there's about 800,000 people in the government who are not getting fade today. compare that to 150 million people who are working, so it's about a half a percent decline in earning but there's two things to offset that. number one, the people that are working are are seeing pay raises that's going tooff set part of that. number two, because the
government doesn't have to borrow as much to pay those workers, that money stays in the private sector as well. so i would call this a hit of maybe, maybe two tenths of one percent which in a 3% environment of growth it's really not going to be felt. i do not believe this government shutdown is going to lead to any major slowdown in economic activity. >> okay brian. a strong -- economy probably a strong market. we'll leave it at that that's a good way to start a monday morning west bury you're with all right. >> thank you. thanks stuart. completely different subject now. look just look at this president trump took a shot at jeff bezos with a tweet and here it is. so sorry to hear the news about jeff bozo being taken down by a competitor i far more accurate than in lobbyist newspaper a.m. washington post. hopefully the paper will soon be placed in better and more responsible hands. all right liz, what do you make
the president says jeff bozo what do you make of that? >> he didn't need to go there. the president has a great storyline he's got a great narrative he steps on that storyline when you go there right he doesn't need to do name calling. under obama manufacturing jobs. lost hundreds of thousands of people president trump has created pushing 450,000 manufacturing jobs just is in a short time he's been in office. so you know, the coverage of his economic successes by president trump and a his agenda has been about as deep as a waiting pool in washington post. and another media, i mean they've not done reporting on it and put it in context, and hysteria over this government shutdown has got to stop ubs has said reverts into q2 all of the consumption loss, consumerring spending power los in the job loss it will revert president his agenda is right one for this country economic data show
that's what wall street analysts are reporting anden say. >> don't call him jeff bozo. >> doesn't need to go there. markets now and china trade rebecca is with us. president of wealth management rebecca if i'm not mistaken you say, yes there is a great deal of pain involved it in this china trade spat. but you sayst it worth it. we got to do it and we've got to win is that where you're coming from, i think? >> absolutely right stew i think liz is 100% adding back but if we look at the context of history from 2010 we lost 6.1 million manufacturing jobs right as china started importing so much to the united states so very clear where most of the jobs went, and now is the time that we do something about it especially with made in china 2025 that is such a threat to our american way of life. >> and we just got this word over the weekend that china had a trade surplus of 323 billion
dollars. just with the united states -- i mean surely that gives great deal of empties for the president to say come on you have to start taking more of our stuff. that's what he's got to say. >> stew that is the largest chinese deficit america u.s. trade deficit we've had in midst of the trade and trump trying to do something about it so we can see china is -- , obviously, a very important economy. but we can see that they are trying to shift their economies to the higher jobs these more sophisticated jobs and we're without a partner to ship all of these low costs, cheap tboodz toes us and we will lost our manufacturing base so question of to fix what's beginning on here or we're in a big -- have a huge problem people aren't even talking it be. >> let me look strictly at the market for a moment because there's a lot of talk about netflix to report their earnings later on this week netflix is the next big supertechnology stock. did the standout stock of this
year -- would you with agree with that? i do stu it is, obviously, best performance stock that we have. it went down like everything in this december 24th like the whole rout did but that is already back up 45% since it low of december christmas eve, and you know, there's 13 billion dollar last year on original content. so they're bird box notify just has been just passed 45 million users looking at this movie sandra bullock so they have studio they have the actors. they're outspending hbo and cbs so question expect their global growth and global subscribers ads it has going to look like a good year for netflix i think so. >> your wealth manager telling put their 401(k) money into stocks as of right now? >> you know, stew, it's i predict some bumpiness ahead. so it extends on where they are in investment horizon if they're getting out of the market they're retiring next ten years we have to be careful of what's happening this year. we see some concerns but, obviously, you know, underline
economics fund mentales are there the labor market you know unemployment numbers, you know, gdp growth and what trump is trying to do with china i'm encouraged about. nobody else is really taking this on i'm so encouraged he'ses diagnose it. >> thanks for joining us rebecca thanks a lot. see you again soon. thank you. all right where do we open this monday morning on downside but you know there's a stack of negatives i'm surprised perhaps that it is not even further south than that. you know -- minus 190 point is about a minus .8.. and we close down friday at the 24,000 level. so you can expect a bit of a pullback doesn't look like in early going it is that severe. as the government shutdown drags into its 24th day there are some democrats who are taking heat because they are hanging out look at that. hanging out on beach. >> thought everybody was getting you know upset because people very furloughed but they are at the beach. j look if you have a beach body going on in posht and you're a democrat you're going to go. >> can't resist and about they
did. we have a few things to say about this. there might be a reason why you've got such a good dole on that fancy new smart tv you bought for christmas why? well it could be spying on you and selling your data. bet you didn't know that. i didn't. more varney after this. not anymore, td ameritrade lets you trade select securities 24 hours a day, five days a week. that's amazing. it's a pretty big deal. so i can trade all night long? ♪ ♪ all night long... is that lionel richie? let's reopen the market. mr. richie, would you ring the 24/5 bell? sure can, jim. ♪ trade 24/5, with td ameritrade. ♪
heading south of the opening bell this morning maybe down about about 200 points we'll see. 15mys from now. new york congresswoman xangd ya cortez is all over the media these days. she's ever where, and she appears to be fulling democrat party far to the left and conservative group american for prosperity she dominates social media like i said she's absolutely everywhere. and she's very good at getting that message out. seems like she is better than the republicans. getting the message out. >> well the day first swearing in she actually passed a nancy pelosi on twitter with followers and then the amount of traffic
and that she dries so she's very effective. i think when americans begin looking at some of the pots she's talking about green energy deal which will devastate the american economy if it were implemented are carbon tax things like that i think it will be tough for her and folks who are pushing those extreme ideas. >> but you know millennials like ms. cortez they don't have that knee jerk reaction to socialism that you and i might have. and we're a different generation. we know what socialism is all a about. we rejected entirely but a younger generation is never experienced it and never been told how you pay for it. she leads that group of people and i think leads it very effectively. >> yeah. ronald reagan to me he talked about how you could not pass a freedom along in the bloodstream question of to argue and defend it and no issue is ever really settinged, and so i know one of our goals and jobs is to promote
why freedom and prosperity and rule of law and -- letting folks have choices knocking down barriers to hold people back, it's freedom that does that and we have a case to be made and we've got to keep making had it -- millennials i have four millennials stew, and they're free market and conservative oriented but it is never other. >> where's the member of congress on the really side who will hammer and pound that table with the truth about socialism? >> i don't see that fern -- >> we need better leaders in congress that can make the case. on occasion different people will did a good job just occasionally can do it marco rubio can do it but we need better leaders who can actually make the the case for prosperity and freedom and why it is better. why knocking down barriers using freedom leaves to prosperity not socialism. >> did you see that group of 30 democrat lawmakers they wept to puerto rico this weekend.
couple of parties on the beach they saw a performance of -- what was it they saw hamilton they saw it. there senator menendez on the beach. don't they realize how this looks when the government is shutdown and their party on the beach? >> they should. the opticses are terrible and need to get become to washington. american people expect the parties to reach across lines and got a deal done and we with think there's a deal there to be made. give president trump, give president trump and republicanses the border security that they're calling for. we do need better border security absolutely and exchange what about a path qai with to certainty for dreamers folk brought here as children we're urging that, the president in the past has expressed and openness to something like that. by do think these democrats ought to get back to washington and -- and two peats have to come together that's what the american people expect. they expect their government to -- to come together and at least get some kind of deal to get rid are of this.
>> at this point i don't believe in thes are negotiating at all. they think they're winning the political battle because -- presidential disapproval rate is going up. they think they're winning political batting so they're not negotiating at all. will it stay like that? >> i certainly hope not. no one win this is kind of battle and they may think there's a short-term blip but in the road public confidence in government which is what is absolutely happening right now, that doesn't benefit any party it doesn't benefit anyone. >> okay tim phillips thanks for joining us we'll sew you again real soon future market we're opening up to wall street in 11 minutes time and down almost 200 point. job cuts coming to spacex they're laying off about 10% of their work force we'll tell you what's going on with that, next.
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and look at this gas prices drop across the united states because -- president trump has deregulated energy and we're now producing a great deal more oil than ever before and quote by the way, i think that was a quote from my script i read that. i delivered that line on fox and friends on the fox news channel this morning. i think the president i think gas prices are down and i love it i think it is great and it helps the economy. and i think they're down because of president trump deregulation and because he's made an america energy dominance. >> absolutely and you know what if we didn't have our oil sector we would have been in recession under president obama. we would have tipped into a downturn and president obama realized late in the game that oil sector does manage the economy remember he lifted the caps off u.s. exports out into the rest the world. and so you know, president trump is absolutely right and it is a double whamny oil sector firing ahead and it's a gas firing ahead, and it is a pocket spending. >> i like actually america no
longer dependent for oil on people who hate. >> remember that narrative here for the 70s and 80s to the 90s that were relying on enemies for our oil presidents sited trump is doing it not a victory for him. >> what's with spacex by the way cutting i put it 10% of their jobs. >> about 700 to 800 jobs because they're not profitable they're just at flat line in terms of profits he wanted to do reusable rocket and he wants to send up spacex satellites constellation of satellites into the atmosphere to connect internet to people around world so he's got an ambitious agenda ahead of them in order to come up into the green -- they're thinking abruptly lay off 700 workers 100 million annual savings. musk may be a showman. but there's no question he's a visionary. and he's actually doing it. >> that's a stock -- >> it is. all right we open market in four minutes time. we will be down at the opening
bell remember there last week we closed around a 24,000 level. down a bit in the early going today. back in a moment. [ phone rings ] hi, tom. hey, how's the college visit? you remembered. it's good. does it make the short list? you remembered that too. yeah, i'm afraid so. knowing what's important to you... it's okay. this is what we've been planning for. thanks, bye. that's what's important to us. it's why 7 million investors work with edward jones.
the white house he answeredded questions shouted at had him by reporters. we're going to get the tape of that and tell you exactly what he had to say moments from now. as of right now, fives to go open the stock market this monday morning nice week last week but we're expecting a triple digit loss we're off, we're running monday morning already yes we're down 115 points down in the very, very early going, 130 points down, for those of you who are listening on radio i can tell you that it is a sea of red on the lngd side of the screen that means that almost all of the dow 30 stocks which have openedded have opened lower. and now we're off 174 point that's the best part of three quarters of one percent. let's move on to the the s&p if that also showing a big decline yes it is. that's down three quarters of one percent that will be 20 points down. the nasdaq down almost 1%. that implies real problems with technology, we'll bring you the the full tech -- big stocks in just a moment but
look at the tenure treasury yield the morning at 2.69% how about that? all right tech names check them all of the time you have to, all of them are down. we've got apple 151 apple amazon 1615 facebook is at 141 google is down microsoft at 101. look at citi group this is the first company to kick off the -- the earnings reporting season, a little disaa pointing there. and they're down 1.3%. 55 dollars share on citi i need help to cover this and i have a panel of experts joining us ray, jeff seeger and elizabeth macdonald you're first jeff. we're told to expect a 14% increase in profits compared to this time last year. what do you think? >> well here's what i think. and you know what here's what's i call the curse of high expectations, when the expectations are high, there's a greater tendency to miss but
keep in 2018 we did 20%. so now a 14%, 14% is going to be viewed as a failure for the market to reach -- reach those expectations. i believe dcial >> nobody thought we would continue with 20, 25% profit -- unrealistic. if i believe you look at the expectations prior to selloff in december if you look at expectations, it seems as if people were expecting the momentum from 2018 to continue than we got the selloff, and analysts begin to -- begin to pull back expectations. and a it will -- and apple dropped a bomb on the market and pulled back their expectations. >> i'll take on jeff, i love hmm but here's what, what's happening right now is that -- analysts are lowering their earnings expectations that is coming through in forward multiple of the s&p it steadily going lower and bar set so low by wall street that caterpillar could back across it that's when
that happened when expectations are low you get a pop because you see you'll always sees that s&p 500 rising after a bad quarter period. >> ray wang is with us and you follow the technology companies that's your area. >> yeah. so now they report in a couple of weeks time are you expecting huge profit gains for the big techs like we've seen in the past? >> i think we see a continued dichotomy in terms of the stocks some will go up and take netflix for example to do really well amazon will do really well and things slat at am l and facebook for a long time. >> flat but amazon and netflix going straight up do you think netflix will be the stock of the year? >> i think it will be one of them amazon will probably do better but netflix think about 9.4 will pick up and additional like 4.6 billion on top of revenue these are top numbers. >> now there's one stock that jeff seeger has always liked
that is netflix. >> as a matter of fact, on your show 2012 when netflix everybody hated netflix i said that apple should buy them it would be a brilliant move and a i bet apple is looking back and thinking they should have bought netflix when they had a shot. netflix is a brilliant company. this new streaming technology they used with roma where they're bypassing the box office, this is groundbreaking i talk to an academy award-winning producer, who said that netflix just changed the game completely, and is allowing hollywood to deliver quality products for loss money which is great. >> 330 dollars sharest where's it going? >> i think it is beginning to break 400 dollars a share this year. >> i do as well. by the end of q2 -- >> any advance? liz? >> both are right and i would take middle of that. [laughter] >> okay so it's going up. let get to brexit a no vote is
widely expected almost -- almost a certainty if you talk to bookies over in england jeff would that mean a selloff in america if you get expected no volt? >> i think there's a ton of uncertainty. but i have yet to find a single person out there who believes that there's not going to be a no volt. so i don't think it is going to have any impact but the more uncertainty that comes into play the greater the livelihood is to get a selloff off of it. >> check the big board this is the low of the day. the dow jones average at this moment is down 222 points. that's the best part of one percent .93% down 221. apple says it is home -- that's a smart speaker that is going to be available in china and hong kong, starting on friday. but apple is down two bucks at 150. the price of oil this morning around 51 dollars barrel no real impact on the stock market today. 5101 to be precise price of gasoline going nowhere still national average is 2.24 per
gallon for regular. merger monday new mining is going to buy us smaller rival gold a canadian company valued at $10 billion. it would create largest coal company in world by a long way. jeff, you like gold? >> i do like gold. [laughter] >> i can't work out what you like and toangt like. >> and the reality of it is gold is boring nobody ever wants to talk it be but this, mernger will create probably biggest mining company in the world. that's a statement that gold and that's a bet on gold if you do -- >> world is going crazy, it is going absolutely crazy, and gold is a hold value people like tangible assets, so they're going to run to gold to crazier more chaotic brexit tariff, trade war they're beginning to run to gold because gold gives poem a sense of stability. >> do you buy gold mining shares or buy those coins? >> i buy coins. those commercials really got me. [laughter]
i buy the coins. i stack them up and some carry them around. [laughter] no, i do i do think -- >> who knew -- all -- here's the thing when we look at bond yield at 2% and gold at 1350 so there's a lot ofup side because we're at such lows, so the good move their end. estate planning tool? >> yeah. why? >> because you can bury it -- [laughter] >> government is manipulate that's the bottom line. government is manipulate currency, and a gold you know what i'm getting at. thank you very much. [laughter] something serious -- maria. pg&e is entered interruption protection yeah huge california utility they're liable in these fires the wildfires that we're seeing what's the end game here? >> to restructure it and they've been under colossal mismanagement to have 11 of the fires violate the way pg&e handled it viets state code not
clearing the brush away from the powerlines 1500 fires, and a recent years blamed on pg&e. dozens and dozens and doesenings of deaths in fires i'm surprised this company is still standing other stories quickly out of california local reports, now blaming governor jerry brown administration because a lot of lobbyists worked at pg&e so relaxation of standard there by the brown administration. >> keep in mind they're going to declare bankruptcy and it is going to ultimately make utility prices go up in california. >> fair excuse me -- shield them. we've been on shield them. but you live in california. we've been up 40% since 2010 in terms of utility prices. we're setting at something like 20 cents afnlg with nation wide average 13.8 and st. carlos fire and nuclear take down and what happened is prices keep going up despite all of the green energy stuff going. >> because of all a of the green energy, or because -- come on. [laughter] all right, budweiser beer people
playing up healthy playing up healthy i guess you could say with nutrition facts on bud light. you know, they ran a big ad in "the new york times" i think four page ad that is in big print -- >> yeah i guess looking into old people and -- >> vitamin d is that a good idea? >> homer simpson will be very happy about this. but bottom line if you want to be healthy you shouldn't be shopping in the beer aisle. aisle -- you should be shopping in health food aisle so -- [laughter] >> please. oh -- nothing like guinness, though, one -- >> or don't get beer. >> aren't you a happy crowd. [laughter] are you a health nut? >> yeah. a little bit. a little bit i think beer is very unhealthy and models. >> what is unheament about a couple of l beers? >> those models they have in beer commercials not get that way from drinking beer. >> do you serve quinoa at your
super bowl party? >> a drink from budweiser infused with marijuana. tc that will get you high would you do that? >> i would not admit it on tv -- no. organic beer and stand up and cheer because we were down over 200. now we're down 164. okay, president trump he is now speaking to reporters and we've got a little bit of what he said -- he says he thinks that u.s. will get a trade deal with china. is it rewill get a trade deal request china and china wants to negotiate and things are going well. that's what he's saying. we're going bring you anymore headlines when is we get them. that's probably why the dow is come from a minus 220 to minus 140 what the president had to say right there. 9:40 eastern time you know what that means good-bye ray and what 's your name gentlemen thank
you very much. big week for brexit -- parliament on mays brexit plan tomorrow not looking good here's the question. what happens if the plan does not pass, ashley webster our very own ashley he's over there live in london he'll be on the the show next. new report in journal sayses that russian hackers have gained access to our power grid, and they could be hiding in some of the systems. waiting on further orders to strike -- there's a headline for you. back after this. i'm off to college. i'm worried about my parents' retirement. don't worry. voya helps them to and through retirement... dealing with today's expenses... while helping plan, invest and protect for the future.
now we're down 130 points on dow industrials that's a big improvement where we were ten minutes ago trump finished speaking tort roars he thinks u.s. will get a trade deal with china, that china wants to negotiate and things are going well. a hls said he's not repeat not going to cull a national emergency on the border he said those two things, i think that helped the stock market just a little bit. we're going to get the tape of his full remarks in a moment and you'll hear and see all of it. tomorrow, that's the day when parliament in britain votes on troughs may brexit plan it is not popular, and it looks like it's going to go down to a resounding defeat. joinings us now is ashley webster over there in london for us but ashley. if it goes down to defeat, let's suppose that it is a narrow defeat. it is not a total landslide but a narrow defeat. could that be used maybe to give her had more time by some time to get back negotiate some more?
>> yeah, maybe stuart if she goes town by 200 votes or more forget about it and eu nothing clearly that's in the agreement to win a majority but if it is closer than that say 40 or 50 votes she may be able to get some confessions from the e.u. that could get it back here week today and maybe we'll get through on that line. but you know what, i think i heard you earlier today talking about the book is generally have a pretty good idea of this country how things are going about and as you know, the odds of her had deal being approved a 20-1 pay 20 pounds to one win pound back so in other words we know it is going to be defeated but i do think that margin will make -- will make a difference but if it is defeated which we expect, you can i think the labor party will put in a motion of no confidence in the government. and then there's talk that perhaps some will try somewhat of a come to sideline government to take over the negotiations. bottom line, tomorrow is going
to be a very, very interesting day indeed. >> by the way i'm sure you know this bookies are saying that odds are in favorite to be next prime minister is jeremy corybn. you knew that, didn't you? [laughter] >> yeah. thanks for that. that's great. >> you're welcome, son. [laughter] tnches for the benefit of our viewers who to not know mr. corbin is in a vowed socialist, and would take us right back to 1952. [laughter] okay. we'll see you again later ash good stuff. i'll stay on brexit and brits bring in steve hilton former strategy director or for finance david cameron he's the host of the next revolution on the fox news channel. you know when look at this big picture, it looks to me like the brits going to end up staying in the european union. take me on. am i right? >> you are xectly right porpght thing for all of our viewers to understand is that theresa may's deal basically involved staying
in the e.u. she doesn't accept that but reality of her deal even if it goes through is that britain can't make independent trade teal and subject to ement u. laws and it is not really brexit. and then exactly as ashley said the fallback position if she loses the vote is that you've got a cross party alliance, parliament who against brexit what they would have come forward with is a plan to take control of the process and delay the exit date. the exit date is set for march 29th. that is in law at the a moment. they want to change that law and delay the date, with so that this whole thing goes on forever, and they sabotage the votes from 2016. >> i want to get this in, while i have use on the the show steve because smart tv prices are low because some of these smart tv makers are collecting data and selling it to third parties. i didn't know about this. but i just found out that's more big brother isn't it? >> it is totally big brother
basically you see more and more of this. look at the extra in las vegas all of the new high-tech gadgets around home but not just tv but fridge all of the connect the devices they call them smart devices. the reason that they're smart as it were is that they're collecting data on your daily habits and using that to target advertising and for other commercial purples. but that's all in this small precinct they never tell you that. and it is really increasingly big brother world that we live in. >> it is a total big brother world. total there's absolutely no such thing as online privacy. period -- it's a right. steve i have to run because i'm just getting the tape from president trump's remarks this morning at the white house so i'll see you again very soon. steve -- okay 40 seconds to go. we'll get the full tape of what the president had to say. we already know he's said there will be no declaration of a national emergency. we thought he was going to pull the trigger and do it but now he says no he's not going to do it
he also had had some comments about china trade discussion. he says that china ising he said that things are going well when that news got out, the stock market came from a minus 220 to a minus 130. so his comments on trade clearly helped. the tape is on its way. whether it is into a machine or not i'm not quite sure but in three, two about, one -- [laughter] [silence] good morning, beautiful -- it's beautiful. too bad they took the snow off the ground. too bad it was more beautiful last night. i'll be going to new orleans right now. i'm going to be speaking in front of our great farmers i look forward to that. i did it last year, and i look
forward to it so we'll be back a little bit later. i believe i don't know if weather change things but clemson championship team will be coming tonight it will be exciting. very great team and unbelievable team. they'll be coming tonight and i think we're going to serve mcdonald's wendy's a and burger king with some prison is it a. i really mean it will be interesting and i think think that's the favorite food so wool see what happens. but they're coming tonight to national champions. subject to the weather. so i've been here all weekend a lot of the democrats were in puerto rico celebrating something. i don't know maybe they're celebrating the shutdown. we have a very big price humanitarian crisis on the border, everybody knows it. they know it. and many of them are saying we agree with you. many of them are calling and many are breaking.
so republicans are rock solid we've got to take care of our border. many of the people they're all going to get their money. the people that aren't being paid right now are in total agreement with us you saw border patrol agent as you saw what was happening they're in total agreement with us. so we'll sew how it all goes. i will tell you this -- we have a priority safety of our nation southern border has been horrible for decades and a it's now because of this success of our country, it is now at a level that we cannot put up with. the in thes have to do something. we need their votes otherwise we can't solve it. without their votes they now control the house. let's see if they can lead. i don't know if they can lead but we're going to soon find out. >> mr. president -- [inaudible conversations] what did you say? >> lindsey graham -- [inaudible conversations] >> well that was a suggestion that lindsay made but i did
reject it yes i'm not interested. i want to get it solved i don't to just delay it. i want to get it solved. [inaudible conversations] >> i just don't know anything about it. i read it this morning. it's a lot of fake news. that was a very good meeting, it was actually a very successful meeting. and i have those meetings with everything i know nothing it be. it was a -- very, very successful meeting. we talked about israel. we talked about the pipeline. that yerm is yerm is paying russia a lot of money i don't think it is appropriate we talk about that and i have meetings one-on-one with all leaders including president of china, including prime minister of japan. abe we have meetings all of the time no big deal. >> mr. president -- [inaudible conversations]
i never worked for russia you know that answer better than anybody. not only did i never work for russia i think it is a disgrace that you even asked that question. because it's a whole big fat hoax. it just a hoax. mr. president -- [inaudible conversations] who? >> i haven't been following it. i really haven't been following it. [inaudible conversations] >> a deal with what? >> i don't know we're close to a deal this could be easiest deal we're talking about border security who could be against it and we're talking about drugs pouring in tieing up women putting tape in their mouth and pouring into our country. we can't have that. we can't have that we have drugs, criminals, tbangs and democrats don't want to do anything about it. they say oh, it is immoral but
it wasn't three years ago, five years ago, six years ago, and ten years ago -- when they all raised their hand to approve a wall. all of a sudden it is immoral. it is immoral because one reason -- because they know they're going to lose in the 2020 election. that's the only reason to them it is immoral. >> who did? >> cortez -- >> who caress -- [inaudible conversations] about trade. doing very well with china. they're having a hard time with their economy because of the tariff. we're doing very well with our economy. we're at records unemployment numbers another record. we're doing extremely well as a country we're doing better than any country right now anywhere in the world. china wants to negotiate. i have a great relationship with president xi because it is good to have relationships with with russia. and china, and japan, and india,
and i have relationships with almost even and that's a good thing not a bad thing. i think that we are going to be abled to a deal with china. i can tell you we are getting things that -- before i became president you would have had no chance at getting. they would have laughed at your president's face. people that startinged that investigate mccabe fired from fbi our lisa paige who was forced to leave the fbi and her lover peter strzok who we got their text messages, and what they said in those text messages was shocking. when you talk about bias, and also combmy i guess they started it because i fired comey which was a great thing i did for our country. so the people doing that
investigation were people that have been caught that are known dirty cos i'll tell you what, it is so unfair what has happened to the fbi in terms of the men and women working in rank and fe of the fbi i know many of them great so people el barszed by their leadership i have never seen a turnaround in a bureau or agency like i have with the fbi. they are so embarrassed i think 12 people now have been terminated. and others if you look at what's happening others are going to go. what happened with the fbi, so when you say should i have confidence in the fbi? or intelligence agencies? when i see poor all of these people when i see lisa and her lover and a notes an about their texts capture haded an you see what they said about me e,
having nothing to do with investigation let me tell you something had when people see that you have an angry country because the whole thing is a hoax. it is a big hoax. and it is very bad for our country. so what happened with the fbi, i have done a great service for our country when i fired james comey. because he was a bad cop. and he was a dirty he really lied. all you have to do, wait a minute, and all you have to do is take a look at the "crooked hillary" clinton investigation where they brought her under july 4th, july 4th. they didn't swear her in, they didn't do any tapes, they didn't do anything. they just let her go. she mostly said, i don't know. she didn't know anything. just like james comey a week ago, he was interviewed by congress and you know unfortunately people didn't see it because the republicans with
paul ryan unfortunately they didn't put him out there but what he said was, either he is a bad liar or he is grossly incompetent. unfortunately tint see it. but you can read the transcript. [shouting questions] what? reporter: [inaudible]. >> you know how i feel. okay. we'll see you -- what? reporter: [inaudible] >> i'm not looking to call a national emergency. this is so simple. i have the absolute legal right to call it. i'm not looking to do that. this is too simple. the democrats should say we want border security. we have to build a wall. otherwise you can't have border security. and then we can get on with our lives. the democrats are stopping us, and stopping a lot of great people being paid. all you have to do is say we
want border security. that means a wall or barrier. i will see you in new orleans. stuart: there you have it, president trump, he always addresses reporters when he is about to take off to visit a different part of country. today he is on his way to new orleans, he will address farmers. as you saw he addresses news media when he emerges from the white house. two things which he said, which really caught our attention, caught the markets attention. at the end there you heard him say, there will be no declaration of emergency. he has put that on to the backs of the democrats in this border wall fight. i believe we have brad blakeman, with us, is that correct, gop kind of guy? welcome back to the program. >> thank you. stuart: i was surprise he said no national emergency declaration. i thought he might have declared one over the weekend? >> he will not let the democrats off the hook. this is their problem. the president as he said, been
there since the crisis began and government shut down to make a deal. the president is not intransient. i'm at five billion. democrats at 1.3. let's meet in the middle. i'm open to other solutions in addition to border security, daca. there couldn't be a more reasonable president at this time, to end the crisis. give him 15 minutes with people of good faith, this is done. now democrats only this. only they can seek a way out. the president is willing to compromise. by the way, why won't arizona and texas ask for declarations on their own? just like we support hurricane relief, tornado and other natural disasters this, is a disaster for the states. stuart: he also called out the democrats, there are 30 democrats who took a chartered jet over to puerto rico. >> right. stuart: they have been seen partying on the beach just as 800,000 government workers are looking for a paycheck which
would not arrive. the president pointed that one out. i think he is trying to get in some extra leverage there as well. >> the democrats are off partying or they're announcing for president but they're certainly not negotiating in good faith with the president and the white house. they are totally distracted by their own personal selfishness. more and more as this goes by the american people will understand who is acting in their best interests. stuart: brad, stay there for a moment, please. i want to ask you a question about alexandria ocasio-cortez. just hold on for a second. okay? i should also point out that the president, in his remarks to the media just moments ago, dwelt on the china trade issue. he said, doing very well in the talks with china. china is having a very, very hard time with its economy because of the tariffs. and he said america stands very much in contrast because we're doing better than any country in the world. that is his quote. in other words, we have leverage
over china these trade negotiations. my next guest is a tech guy. he follows the technology industry. he follows apple. daniel flax, neuberger berman senior research analyst. you were listening to what the president said there and i saw your eyes light up when he was talking about the china trade deal. do you think this helps apple? >> stuart, over a medium term, good outcome with the chinese government is positive for apple and positive for most if not all american companies and consumers. what we would like to see constructive talks reach a point where companies are investing, governments are obviously have a good, healthy dialogue. they're always going to be differences. but the key, can they bridge them get us to a better place. stuart: do you believe the president? he comes right out and says we're doing very well with china? >> i think the president's point on the health of the u.s.
economy is an important one and obviously helps our government in terms of the negotiations. i think the president would like to see a positive outcome, companies we speak to are looking for progress over the coming months. we're constructive. stuart: you like apple, you do, don't you? it is $150 a share. you like it at that level. it's a long-term buy. i read your stuff and you're saying wearables, the watch and other stuff, wearable computing, apple is doing very well with that? >> yes, stuart, apple is doing well. we think it is somewhat underappreciated. stuart: you've got one. >> look at airpods which become ubiquitous in many places, they're extending into newer areas like health care. apple is a company longer-term focused. as they're embedding more capabilities into the new devices, take that everything else they're doing with the strength of the ecosystem, we
think that is a powerful story. stuart: will it replace the iphone as driver of the stock? >> it has potential over the longer term too. for the shorter term, iphone remains critical. services businesses which is healthy remains very important. the company has shown, if you look back to the ipod a willingness to cannibalize itself, to disrupt. if they continue to do that we think there is additional shareholder value to be created. stuart: tell me about amazon, $1600 a share. i know you like it. is it going back above $2,000 a share? if so, when? i want a date and time? >> we think there is significant up side potential for amazon over next couple years. reason we think that we appreciate the e-commerce business and they're disrupting and commercial and retail landscape. some under appreciated elements of their story, for example, amazon web services. they have built a cloud platform which is seeing outsized growth.
when we talked to technology buyers, they're putting more and more of their work loads with amazon. amazon is being more strategic to the enterprise. the last thing i would mention, they have a growing advertising business. we think that could become more meaningful over the next few years. stuart: the bezos divorce is of no consequence to running of the company and price of the stock? >> we think not. and part of that is because, bezos and the leadership team have really assembled lots of talent at senior, middle, lower levels of company. that is really key to driving long-term success. stuart: what we like is stocks our viewers can invest in for the long term because that is the kind of investor they are and the kind of people watching this program. you like apple for the long term. you like amazon for the long term. one last one, google, what do you say? >> we like google for the long term and we like it because their core search business remains healthy. the youtube platform is a very important contributor. we'll touch on some newer areas
like google cloud. similar to what amazon does. but earlier in the life cycle. you have optionality with autonomous driving like waymo. we like goggle over the long term. stuart: that is where the money is flowing. likes like it might flow some more. daniel, thanks for joining us. >> thank you. stuart: and now this, this weekend saw another chapter in the stunning progress of alexandria ocasio-cortez. she is the dedicated socialist who burst on to the scene less than a year ago and now dominates the headlines. "the new york times" says, she pushes democrats to the left whether they like it or not. she has said, "the times," a outsized profile. on twitter she generates more interactions than the five-most prolific news organizations combined. oh, that's dominance. there are plenty of democrats who resent this they feel pushed out. they feel the left has hijacked the party and are driving it
into policies that won't fly nationally. former senator joe lieberman says she just takes us back to a big-spending big-taxing democratic party. yes she does. it is instructive when mrs. ocasio-cortez told what mr. lieberman had to say, who dis she reportedly said. aoc, she is note general lick and young, engaging, and tireless and she represents the diversity the millenial generation. most important of all she knows how to use social media to maximum exposure. she can tap into 20 and 30 somethings rapidly becoming largest democratic voting group in the country. no wonder, old guard democrats are anxious. let's get back to brad berman. i'm sorry about this brad blakeman. >> that's okay. stuart: we have a young reporter
in washington. sorry about that. >> good guy. stuart: we tend to dismiss socialism. older people like ourselves, we dismiss ocasio-cortez. i think, that's dangerous because you know, she leads the millenials. they're a big voting group. they're not turned off by socialism. they're turned on by it. >> she is a false idol, fascination of the moment and she has to be exposed for what she is. i remember a time not too long ago if you called a democrat a socialist you were defaming them. now they get angry if you don't call them that. we have to show light to people on her, what she is saying, first it is not possible and if it were we would wind up like venezuela. there is no solution where government is the only solution. cradle to grave doesn't work. we have plenty of examples of fallen and collapsed regimes that have tried this. the best part of america, and by the way, many of our founders
were younger than she is. and they fought against tyranny. and they fought against big government and told what to do. we need to show light, exposure and show her as the false idol she is. stuart: i think that she represents, this very narrow band of the coastal elites. >> right. stuart: around new york and california. i think she dominates that particular group of voters. i just don't see how you can sell socialism in the midwest, the south, parts of the eastern seaboard, the northwest. i just don't see -- maybe it is because i've lived through socialism and i really don't like it but i just don't see the bulk of america signing on to big tax, big regulation, et cetera, et cetera. i just don't see it. >> no. she lives in a world of unreality. the fact is, she really didn't have much of a resume' when she came to congress.
and so she sees things completely different and the peep she appeals to, 26 years old, on their parents insurance policy? what adolescents is now like 30. it is ridiculous. people have to realize, if it is free, it ain't worth a dime. tough work for it. stuart: i will quote that, if it is free, it ain't worth a dime. brad blakeman that is very good one. thank you, brad for being with us. see you soon. now this, social media companies like facebook and twitter, they're reaching out to conservatives, they're trying to figure out how to handle political speech on their platform. seems like public opinion completely reversed to the negative in a very short time. we used to think social media, wonderful, bringing us all together. liz: it is true. stuart: different image. liz: totally. stuart: we'll discuss that. new report in the journal said russian hackers have infiltrated our power grid, could still be there waiting for new orders.
talk about a threat? we'll deal with later this hour. president trump says he is not going to call for a national emergency on the border. this as public opinion on the wall is actually growing more in favor of it strangely enough. we'll talk to a sheriff in arizona right there on the thick of it. i want to know what he is seeing on our border. and you are watching the second hour of "varney & company". ♪
stuart: jeff flock is with us now. he is is at the detroit auto show. he has the ceo of toyota north america with him. jeff, it is yours. reporter: first on fox, with the longest-serving ceo in the automotive world, i say world, jim lynch. you've been at toyota how many years? >> 36. 40 years in the business. it has been a while.
reporter: i will show you one thing, stuart, i want to get this man's take on number of important issues. this is the toyota supra. back from the '80s and '90s, sports car, you brought it back. >> 2003 was last year we made it so almost 20 years. reporter: why this, it is all about trucks and suvs you're showing me a car? >> this is about fun to drive. when you think toyota, first thing pops into your mind is depend ability, reliability, safety. this creates a halo of fun. reporter: this whole trend of suvs, are you bucking that? >> no. we still have great suvs but we still believe in passenger cars. we're, industry is 70% light truck. we're only 62%. we're always going to skew a little heavier towards passenger than the rest -- reporter: you couldn't think cars are dead? >> no, not at all.
reporter: now the hard question. your pal over at general motors, mary barra announces closing plants. white house comes in. appropriate, are you afraid, if you ever say, you know what, things are i need to close a plant here or there, i will get chewed out? >> that comes with the territory. the fact of the matter all our truck and suv plants are at capacity and running overtime. and our passenger car plants, one line is 85%. the other is 90%. mississippi, that builds corollas, 78%. new core role -- corolla will go to 98%. reporter: you don't think you have to make changes because of the economy. we're worried about the stock market. we're worried about china. what are you worried about? >> my biggest fear is tariffs. we have to get through this, get the usmca ratified in congress, hopefully by end of this year. then u.s. and japan have to have
this conversation. we have to get by the 232, the it will come in play announced by mid-february. we have to get beyond that because it is not good for the industry. reporter: if you, the president occasionally tunes us in, he likes stuart varney, may be watching, if you want to make a statement with the president, want to chat with him what would you tell the president right now? >> i would say, mr. president, this industry is extremely important to the u.s. economy. so it is important that we're able to compete with the rest of the world, keep our costs down. you're doing great things for the economy. let's keep the industry strong. reporter: that means tariffs -- >> tariffs would be difficult for us. there is no such thing as an american-made car. camry, 17 years, number one, one of the most american-made cars. reporter: your cars, you're a japanese company making more american-made cars than a lot of american companies. >> we've been doing business here a long time. we've invested $26 billion in
the united states alone. we've got new plant in huntsville, alabama, with mazda. we understand we have to be good corporate citizens and build cars where we sell them and procure them where we build them. reporter: jim lentz. appreciate your wisdom. have i missed any headlines? what is your headline? >> the big headline we'll see proliferation of evs, and how excited are the average consumers going to be to buy ev. s because a lot of them are coming. reporter: interesting. mr. varney is concerned about that, and avs. he is not sure people will get in a car, not nobody drive them around. >> we have to build trust on that. reporter: great point. jim, always appreciate it. great to see you. first on fox, the fox business network, jim lentz, senior-most auto ceo in the world. stuart: that was good, jeff.
that was very good. you brought in the president. you brought in me and he addressed the president directly who now is on air force one. he may have well been watching. jeff, good stuff. reporter: appreciate it. stuart: the changing attitudes around social media, and they are changing, we used to love these companies. they brought us together. now they're dividing us, dividing the country. we're going to deal with that after this. ♪
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frankly now we don't. joining us, hamid dylan, republican national lawyers association board member. you're close to this subject of social media. do you think i'm right here, there is a change in the way the public feels about them? i don't think we like big brother? >> well i definitely do. i see it, i saw it earlier with my conservative friends through the censorship we experienced on the major social media platforms, facebook and twitter. then as we learned of multiple privacy violations i began to see my liberal, libertarian friends as well get concerned about it but on the other hand even on that level people don't like it. on another level as you covered on your show, americans are addicted, people around the world are addicted to the smart devices. they're okay with their technologies spying on them for a better experience without really i think fully thinking about back end of that, and how
the special media companies have more power, manipulate us. stuart: seems like, twitter, for example, is built for nastiness. you can be nasty anonymously. >> well, yes. stuart: take issue with everybody and anything. you say anything, you are immediately deluged with nastiness on twitter. i don't see any way around that at all? >> well, i agree, that that is the experience. it is not just the nastiness. it is the ignorance, further weaponized through anonymity. and then you compound that with selective censorship. so people who, on the right, who express these types of nasty and negative behaviors, i'm not condoning that, they quickly get shut down. you tend to have more of that on the left. that really makes it very unpleasant. i personally for one pulled back on twitter. it is uncomfortable to engage in that medium. on the other you feel the everything is reflected back to
you ten minutes latewer advertising. it is negative for people paying attention. the privacy violations is something our government could do something about but isn't. stuart: yeah. >> it's a self-fulfilling loop of increasingly negative experience for consumers. stuart: you summed it up nicely, hamid. thank you for being with us this morning. a difficult subject to approach because you don't know what to do about this, but identifying the problem, bringing us apart, that is important. thank you. >> thank you very much, stuart. stuart: for something completely different. kylie jenner, not most liked photo on instagram. this photo, an egg. it has more than 27 million likes. includes the caption, set a world record together, to get the most-liked post on instagram. woopty doo. shows the stormy webster with her hand wrapped around her mom's thumb.
after learning she was bumped from the top spot, jenner posted a vido cracking an egg on the ground, take that, little egg. i find this thing ridiculous. just ridiculous. congresswoman alexandria ocasio-cortez has a huge influence on social media. as a result, she has a huge influence on the democrat party. more on that, coming up. check out, you have to check this out, liz, that is you. liz: that is you. stuart: "the evening edit," tonight, week knights, every night, 6:00. great show. liz: thank you. thrills and spills. it's a varney spin-off. stuart: no it is not. you're in your own right. liz: thank you. stuart: back with more "varney" after this. ♪
♪ stuart: yellow submarine. octopuses garden in the shade. ♪ stuart: octopuses garden is -- liz: we never done it on "varney." stuart: we haven't. i'm supposed to be the expert on beatles. i didn't know there were two separate songs here. my apologies to beatle fans world over. i guess i will not be a guest on the beatle challenge. we're down 120 on the big board. we were down 220. favorable comments by the president on china trade brought us lower. apple at 150. amazon 1628, facebook, 142, alphabet, microsoft, both down as well. >> >> newmont mining is buying a smaller rival, canadian gold
corporation. this deal is valued at $10 billion f it goes through it will create the world's biggest gold company. congresswoman alexandria ocasio-cortez uses social media to get her message out and she does it very well. she is the most influential democrat on social media. that's saying something. joining me, howard kurtz, host of "mediabuzz." howard, she is really good at social media. you can see the value of social media in politics today. she is astonishingly successful. >> yeah. she is a 29-year-old freshman who has been in office a few hours. suddenly has huge following on instagram and twitter and conservatives who underestimate her and mock her, are missing her talent but she is making two very big mistakes. one of them is she frequently mangles the fact. she was asked on 60 minutes, it is more important to be morally right than technically accurate. actually getting facts straight
is important for credibility. she is picking fight with journalists, fact-checkers among them. that could get old after a while. taking a page from donald trump. she is attacking the media from the left. finally, she is pushing the democratic debate to the left through socialist style policies. but ticking off some members of the democratic establishment here in washington. they are not happy in which the way all the attention that she gets. stuart: is she just fashionable for the moment? a flash in the pan, probabliage exaggeration, but do you think she fades? >> well, that remains to be seen depends what she does with her fame or some would say notoriety. she has to learn to play the inside the beltway game. you don't get anything done as a freshman, unless you can get on key committees. she was turned down for requests she had or whether you can build coalitions. she could become a huge instagram twitter force and yet not really accomplish a lot in washington. if she plays her cards right and
can't be constantly attacking members of her own party, she can take potshots here and there as a maverick, she could have influence. the jury is out on that. stuart: howie, i will put out on the screen, the president tweeting comments, loaded ones about jeff bezos. here it is. so sorry to hear about jeff bows sew taken down by a competitor who is reporting. i understand far more accurate than the reporting in his lobbyist newspaper, the amazon "washington post." hopefully the paper will soon be placed in better and more responsible hands. i can hear you laughing, howard, but i got two questions here. number one, should the president used that word, jeff bozo, directly personal insult, number two, how do you feel about "national enquirer" being favorably compared to your old newspaper, "the washington post"? >> on the clownish nickname that is juvenile, no, he shouldn't have done it. donald trump can't stand jeff bezos. he complained about him to
everybody including me. and you know for him to take this shot, oh the amazon "washington post" not really part of amazon is less credible than "the national enquirer" is a far-fetched claim. i will say that, "new york times," "washington post," are failing to publish what the enquiter story. there are texts, there are photos, no one is denying those. what trump is trying to do push those into the mainstream using his twitter platform as further way to embarass jeff bezos. stuart: you're right, "the washington post" not mentioned the texts, not shown the texts or the full story behind the affair allegedly that bezos conducted. howie, thanks for joining us. we'll see you again real soon. promise. >> thanks, stuart. stuart: let's get to the market. we're off the lows of the morning after the president said china is willing to negotiate a trade deal. he was positive on the china
trade talks. brad mcmillan is with us, he is chief investment officer for commonwealth financial. brad, i know that you're a little worried about some risks that you see out there in the future. tell me what is the biggest dark cloud, the biggest risk that you see on the horizon? >> right now, i see it as europe. we have "brexit" coming up, that could very well shake europe. we have italy, banking system. that is something not really showing up on the headlines, but something could well shake the markets. stuart: that is interesting. first time anyone said that to us, that europe is the biggest problem on the horizon. you're right. i mean, i think you're right. tomorrow is the brexit vote. probably will go down to defeat. italy is still trying to buck the european union over spending. germany is kind of hamstrung by being leaderless. in france they have ongoing insurrection. do you really think that, i mean
this could end the european union? if that did happen, that is a huge problem for us over here. >> absolutely correct, stuart. when you look at what's going on, you have hit some of the big things. germany is leaderless. what saved the european union in the past was both the ability and the willingness of germany to take the lead and find a solution. now with germany essentially leaderless, as you say, they're not in that position. their economy is also weakening. when you have italy, you're not looking at greece. where as before we had solvable problems. right now we don't have the ability or willingness to take the action we took last time. stuart: it is building over there. that's the truth. look, thanks very much for being with us, sir. i appreciate it. i'm sorry i kept it so short. huge news day. you know how these things go. brad pick milan, we'll bring you again soon. >> sounds good, stuart. stuart: i want to bring you manufacturing to the home.
the company, r-riveter, made handbags, figured out how to break down the assembly line so anyone could do it from home. they're being honored by the national retail federation for their work. we have them on the show. first a new report in the journal says russian hackers have infiltrated our power grids, could still be there, waiting for new orders. is this the major threat of the future? we're discussing it. ♪ e, and i heard that my cousin's wife's sister's husband was a lawyer, so i called him. but he never called me back! if your cousin's wife's sister's husband isn't a lawyer, call legalzoom and we'll connect you with an attorney. legalzoom. where life meets legal.
♪ liz: this last hour steve hilton, he is former david cameron strategy director, he is pointing out in light of all this brexit fight britain cannot make independent trade deals. and theresa may may refuse to accept that. watch. >> well the important thing for all our viewers to understand is theresa may's deal basically involves staying in the eu she doesn't accept that but reality of her deal even if it goes through that britain can't make independent trade deal. it is still subject to eu law and regulation. it is not really brexit. as exactly as ashley said, the fall-back position if she loses the vote you have a cross-party alliance in parliament who are against brexit.
in, chatanooga, tennessee. now this, a warning about our electrical grid. russian hackers found a way to hack our utilities and the hackers may still be in there, waiting to strike. that sounds ominous, doesn't it? van hipp, american defense international chair. van, that is an ominous statement. if they have hacked in and they're still in and we don't know exactly where they are, could they bring down the whole grid? >> very seriously, yeah. stuart, i said the cyber war is the fifth dimension of warfare. whoever wins the cyber war will win the next major military operation. i see what the russians are doing, i call it more probing attack. they're gathering intelligence. they're prepping the battlefield for something more sinister. you talk about taking down the grid. three ways to attack the grid. important for people to understand this. one is cyberattack. one is electromagnetic a pulse attack, and carrington event
with the sun. we had one of those in 1859. we were okay. you know what, the american farmer could feed the american people and grow enough food in 1859 without electricity. the american familiar cannot do that. that is by the way so critical. nasa says in next 10 to 100 years we will have another carrington event this is very, very scary. stuart: obviously there is a threat here. but are we not in a position to do a counterthreat? if somebody acts to bring down our national grid, and we know who it is, surely we have the capability to exact, for better word, revenge, don't we? >> we do. we have some cyber offensive capabilities. we called out, our government called out these russian thugs back last summer. we know who did this and who is behind it but here is my concern. if you look what the russians just did, stuart, very similar to what the chinese did a couple years ago on some major
classified national security programs for the pentagon. they knew they couldn't hack, very tough to hack into the pentagon. so they went after the contractors. they had easier defenses to get through. what the russians did here, major power companies, tough to get this them, they went after the subcontractors, through trickery, kept going up one level and another level. they're prepping the battlefield for something more sinister. stuart: can we do something about this? go ahead. >> we can. i look at the capabilities they need. i'm a south carolina, i will brag my home state. we have great cyber capabilities. savannah river national laboratory, the first lab saying we need quantum computing to thwart the cyberattacks. clemson university, i helped them on this they have got a grid simulator. the first of the nation grid simulator, to simulate attacks on grid. across the river, army cyber
command in fort gored in georgia. we don't knee to reinvent the wheel. we have the department of the energy, yes the pentagon to do what it takes to secure the grid of this country. we cannot play around with this. grid security is so vital, really to this country. stuart: we're feeling a little better, van. van hipp. thank you for joining us. >> great to be with it you. stuart: yes, sir. bankruptcy at the big california utility that would be pg&e, bankruptcy, spell it out. liz: by january 29. they have 16 million customers. the energy will still go to the customers according to pg&e. they need to reorganize under chapter 11 to protect the cash flow for energy services to its customers. what is really striking about this story, how much the market new pg&e was in trouble. number one, it has by one estimate, i'm looking at it
right now, wall street, $30 billion in liabilities. why? because there was talk inside the state of california that pg&e was not taking care of all of the brush and the trees around its power lines. what surprising about this story, is that we know that california had been in a drought. what people inside of that state and across the country didn't realize that pg&e downed power lines were thought to be responsible for 17 fires in 2017. it is blamed for the camp fire in northern california as well. the power line went out. it was near the fire. they haven't found that yet. 11 violations of code in 11 separate fires, that is the accusation at pg&e. this is a company that has is in dire straits right now. that company. stuart: they're liable. their ceo left over the weekend. liz: that's correct. stuart: but the lights do not go
out? liz: that's correct for now. stuart: bankruptcy allows them to keep the lights on. liz: jerry brown administration, pga -- pg&e individuals working for his administration. was he too close to company? stuart: thank you. what does arizona sheriff make of the decision? we'll ask him after this. ♪ ♪. i am a family man.
at customink.com. stuart: let's bring you up to speed on the selloff. we were down over 200 earlier. now we're down 121. about a half percentage point on the downside. the president is now heading to new orleans. he will speak to farmers there. deirdre bolton is there. deirdre, tell me about how the soybean farmers are reacting to this? reporter: well i spoke with one, stuart, and he has about 5000-acres of soybeans property in illinois and he said he really respects what president trump is trying to do with the chinese. he understands the trade tensions, and he said, i'm finally glad to have a president who not only talks tough but
acts tough. that said, he is really hoping for an update from president trump right here on this stage, he will be speaking in a few hours. he said that is one of the reasons why he came to this convention was to hear the president speak and hope to give an update. soybeans are the number one u.s. agra export, $19 billion next year. the chinese really targeted this. we have south american competitors like brazil which are producing and selling to china. this particular farmer said he was made whole by the government this year but he said one more year financially he can hold steady without progress being made on trade talks. that being said, he did express confidence in president trump. i also spoke with a rancher, somebody who raises cattle, not crops, out in utah, 6,000 acres. hehe says he is 75 miles from te
nearest gallon of milk. he is here to talk about one thing, the wall. people in big cities, don't understand this, walls are a part of life. that is how you know your property is different from another person's property. he want the an update on the farm bill. stuart: he will probably get it. deirdre, thank you. president trump says he will not declare a national emergency from the border. listen to him this morning. >> i'm not looking to call a national emergency. this is so simple you shouldn't have to. i have the absolute legal right to do that, i'm not looking to do that because this is too simple. democrats say we want border security, we have to build a wall otherwise you can't have border security and we should get on with our lives. stuart: sheriff mark napier of pinal county, arizona. your reaction to what the president said? are you a little disappointed? >> thank you, stuart.
i'm been in pima county 31 years. several administrations told us they would secure the border. there has been bipartisan package. i'm disappointed this drug on for 31 years. we need to move past the politics and move toward a solution. something it's a crisis. it is very complex and ever changing problem. we know we have problem with transnational crime organizations exploiting porous nature of our border. we have humanitarian crisis. from public security standpoint, humanitarian standpoint we need to secure the border. we send people to washington, d.c., to make difficult decisions and fix things. i wish we would get on to that. stuart: president says there crisis on the border. you're close to the border. describe the crisis. what do you see? >> stuart i have the largest border county in the united states. we have 9200 square miles and exposure international my
deputies recover 100 body as year. those bodies of people came into the country, victimized by bandits, coyotes, criminality or environment. to suggest there is not humanitarian crisis here is completely falsep human trafficking, sex trafficking is humanitarian crisis. we have to look no further than the opiate crisis, methaphetamine, overdoses, criminality associated with it. there is criminal justice, public safety crisis. there is certainly a national security concern. we don't know who comes across the border. in age of international terrorism, there are hostile nations that send bad actors. that is vulnerability we should not tolerate. stuart: do you agree with the president, you want border security you have to have a steel structure or a wall, do you agree with that? >> of course, stuart. any thinking person knows that physical barriers will always be part of the equation for border security but they will have be supported with technology and human resources.
there are places in my county it would be very difficult, if not impossible to build what we think of as traditional wall or physical barrier. we have to have robust technology and human resources in those areas. honestly a wall or barrier, not monitored, not maintained, not enforced is an impediment and nuisance. you have to support those with human resources and technology. let's get on with this this is a country put somebody on the moon. we won world war ii. we survived a civil war. we ought to be able to fix border security. stuart: got it. sheriff mark napier. thanks for joining us. >> thank you, stuart. stuart: coming up we have the tale of what you might call two coasts, new york and california. they seem to be in a battle who can be most progressive. my take on that coming up, top of the hour for you. ♪ because my body can still make its own insulin. and i take trulicity once a week
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see who can be the most progressive. it is new york city versus california appeared both have shifted way out there to the left just in the last couple of weeks. it reminds me of 2016 after donald trump's big win. the democrats were reduced to be in the party of the coastal elites. they won big in pockets of wealth along the coast but lost just about everywhere else. the coastal elites are still doing their thing. new york's mayor has announced government health care for all illegals. california's new governor has done the same thing. we are better says new york's deblasio because we cover mental health. it's like a contest to see who can hand out the most feared his honor, deblasio also said others in sisters, there's plenty of money in the world. there's plenty of money in the city. it's just in the wrong hands. well, that's par for the courts and the mayor's socialist wonderland. you got it, we want it, handed
over because we are more deserving than you. the far left has taken a firm grip on the democratic party. socialist alexandria ocasio-cortez dominates the house. democratic socialist bernie sanders leads the charge in the senate. both are firmly in support of the new york city development. socialism will be on the agenda for the democrats in 2020. combined, california and new york control over 100 electoral college votes. they're almost certain to go full democrat. they're up to a big splashy star appeared over the next two years i just don't think they can clinch the deal. the new york and california elites will have a very hard time making the rest of us believe that tax hikes, government run health care and open borders are really the way forward for america. the third hour of "varney & company" is about to begin.
♪ all right, california, new york city, the most progressive, with it? in 15 minutes and judgment and reaction from former new york lieutenant governor betsy mccoy. let's get your money and check the big word. we are way off the lows of the day, down 119 as opposed to down 230 as we were earlier. the president says he thinks the u.s. will get a trade deal with china that china wants to negotiate and things are going well. that clearly helped the markets. he also said he's not going to call for national emergency on the border. back to help the markets. now look at apple. parents is just kind of floating the balloon at the idea that apple should buy nintendo. scott martin, do you think that would be a good fit apple, nintendo? >> it's on the right track. this is the night immediate when
i was playing a lot of nintendo and certainly nintendo still around. getting into the gaming sector is interesting, stuart. others out there at ea, take two doing better for nintendo. i still think apple needs to understand its ecosystem on the service side versus the hardware side. i'm still looking at things like spotted by a mysterious satellite radio. those areas are apple more or less than the gaming site right now. sure into apple's problem is they haven't yet come with an announcement about how they'll tackle this problem with the iphone market, which is their mainstay product. that's what everyone is looking for, isn't it? >> correct. but the progress they need to make with the buyout. you've got a gopher services, which is where the company is project in growth in the next few years and that is going to platforms we talked about already here because that's
where they'll get the expansion. several shows on her talked about apple, they're not going to created on around. biting somebody with a stockpile of caches that row. sure into trying to write the shed. anheuser-busch is trying to get people to buy more and drink more. they're putting big nutrition labels on bud light. you think that's going to turn the market around? >> not really. nutrition and beer. the morons that are still drinking beer. i'm a scotch drinker. i've been looking to pick up on the cheap year. the beer market does need some saving. but like the idea might do some saving year. stuart: let's get serious. let's talk about netflix reported its profit this week. a lot of people on the show in the last few days have said netflix could be the stock of the year.
the next big technology company that is really going to have itself explode. what do you say? >> netflix is going to run into a lot of competition this year. disney stream and is months or quarters the way. here's the funny thing. netflix is already the stock of the year, so it's going to already kiss the pretty girl so to speak. to me, netflix is running up against some near-term resistance with a great move off of the lows in late december. so yes, we do like netflix. we own it because of the content they're pushing now. the platform is great. they have a lot of great pricing power. international growth is good. i just wouldn't have my hopes so high this will run up enough like it has this year. stuart: how about amazon. the question here is will the divorce drama surrounding jeff bezos and mckenzie going to
affect the company? >> it doesn't look like it. the voting shares that mckenzie, first name basis here, may have going forward. just see how that pans out. if there's any short-term weakness i'd be a buyer. we on amazon already. stuart: is not bad. thank you very much indeed good see you again soon. either way, i do have more amazon news. i think this is a real big deal actually. reportedly, amazon is close to a deal to lease 10,000 square feet inside the chrysler building in new york city. liz: a big deal. stuart: that's a big deal. amazon would use the space to build a new retail store. they are the people who really murdered retail stores and maybe bring one back in the price of the building. no word yet on one of these cashier less stores or bookstore. we don't know that. but they're talking 10,000 square feet real estate retail store in that iconic building.
liz: that's right. stuart: the government shutdown has trusted three by $6 billion according to s&p global ratings. at this rate it will only take another two weeks to cost the economy 557 billion, which is the same amount president trump has requested for the border while. as the government shutdown drags into what 24th day, some democrats are taking heat for hanging out on the beach in puerto rico over the weekend. president trump says it's time for them to get back to work. you heard my editorial at the top of the hour, new york mayor bill deblasio to be just like california. i'm calling it a contest to see who can hand out the most money. when companies as manufacturing is buried under trump. it's called our riveter. they make tanks and they figured out a deconstructive assembly line that allows manufacturing at home anywhere in the country. they're on the show this
morning. of course are watching your money. with come from a minus 232 minus 120 and we will be back. ♪ so lionel, what does being able to trade 24/5 mean to you? well, it means i can trade after the market closes. it's true. so all... evening long. ooh, so close. yes, but also all... night through its entirety. come on, all... the time from sunset to sunrise. right. but you can trade... from, from... from darkness to light. ♪ you're not gonna say it are you?
train to britain's prime minister theresa may will make a speech to parliament this hour. of course that's of course that's added a big vote tomorrow. it's not a popular plan that will be voted on tomorrow. it's likely to be voted down. we'll listen to the prime minister comments that she's making right now and bring you any headlines. what she has to say now could affect the vote tomorrow. that's a big deal. some democrats under fire for a weekend retreat as it's called in puerto rico. lawmakers met with over 100 lobbyists over there. the story.
stuart: largest ever allocation to the hispanic caucus includes according to the hill magazine representative jerry nadler went. senator bob menendez there. so there is this alarm coming out of the democratic party about the government shutdown, 800,000 workers being further. not enough to cancel this junket to puerto rico. facebook, comcast, microsoft, intel on the beach while people are going without pay. they knew well in advance that this junket was in place. they didn't cancel it. they went anyway as the government shutdown continues and there is no negotiating or nothing from the democrats tried to stop it. so this is a seaside resort nearly $450 an night to stay there. president trump commented on it. maybe they were celebrating shutdown on the beach and they'll see a professional -- special performance of the show hamilton. stuart: democrats usually do politics very well.
the optics of a beach party when the government shutdown are very bad. i'm surprised they're doing it. liz: democrat leaders as well. with their families. stuart: really come i'd forgotten that. more on the democrats. new york city mayor bill deblasio says the city has money, but all that money is in the wrong hands. betsy mccaughey is here, lieutenant governor of new york, formerly. the mice in the wrong hand. >> that's right. he's leading it to become the confiscation party. he announced that he is going to guarantee that all new yorkers universal health care free, including their own primary care physician. there were 600,000 uninsured people in new york and it's going to do all of this for $100 million in here's the miracle map, stuart. that works out to $170 per person per year.
you can't even get one appointment with the primary care physician for $170, much less medications or follow-up tests or anything of that nature. stuart: that number, $100 million cost in the first year, you're not buying that? >> of course not. it's happy talk. on the west coast, something similar when he punches numbers that works out to $2000 per person. the more shy of the $5000 that medicaid currently spends per person. stuart: editorialize to say the coastal elites are like in a contest of who can be the most progressive. >> not just the coastal elites, stuart. over two presidential wannabes rolling out their announcements right now are supporting universal free health care. they call it medicare for all. but here is the bottom line. they don't want to level with
the american people about what it will cost. the right-leaning repeater center, the left-leaning urban institute both agreed that it will cost 3.2 trillion with a t. dollars a year. stuart: that's nationwide. >> here's the point. what would have required in income taxes to pay for that? the congressional budget office tells us to pay for $3.2 trillion in needed revenue each year you would have to add 30 points to each tax payers marginal tax rate. say you have a single guy who earns $82,500 a year. he currently pays the marginal tax rate of 24%. you have to jack it up to 54% and that's true for other taxpayers in the country. just taxing the rich like alexandria ocasio-cortez says won't do it. there aren't enough rich people.
stuart: julian castro announced for the presidency over the weekend and he's the guy who went further than aoc. he is latino marginal tax rate that to 90%. >> to run enough people at the tax of 100% amid plane stopped working. the fact is to support these very large giveaway programs, and the most costly medicare for all, free college, student loan forgiveness, guaranteed federal jobs are on the progressive agenda. stuart: wait a second. half the country, half the people who get a paycheck in this country with the job, they do not pay a dime in federal income tax. they will be the ones to receive all of these goodies. >> that is a very big problem. but not everyone is a taxpayer. stuart: you've crossed the tipping point. 55% pay no federal income tax. why shouldn't i say you guys
over there you've got more than me. i want some of what you've got. >> well, you heard bill deblasio they appear there's two clinical parties in the country by the democratic party which represents confiscation in the republican party represents working people. people who pay taxes. >> they get more annoyed benefits than they pay into the system. stuart: half the population pays nothing in federal income tax. there's nothing there. >> let me point out these are a nationwide basis guaranteed health insurance programs are a terrible ripoff, even for lower income workers who get health insurance on their job because i will be ripped away from them the insurance they currently get and they will be told they're in the public system whether they like it or not. stuart: next time you feel strongly about something feel free to come on the show. mayor bill deblasio is not the only one pushing the party to the left.
i'm talking about congresswoman alexandria ocasio-cortez and a radical list of socialist agenda. she dominates the conversation among democrats. more on that this hour. cadillac, the latest big name to get into the electric car business. they have an all-male electric suv. the detroit auto show underway. jeff flock is there. it's got that cars of the future. i'm not sure i've ever stepped foot in one of these cars that were going to show you to them anyway in a moment. ♪
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but the price of oil this monday morning? i'll tell you right now it is $51 per barrel. with the average price of gas nationwide. i'll tell you now. $2.24 per gallon up slightly over the weekend. just a fraction of a cent. the detroit auto show underway. jeff flock is there checking out all the new cars. you've got cars of the future. show them to us. >> i'm going to show you for cars that i would give about a weeks pay if you would get in and drive away. this too started something called the st two. this is toyota and that is something that does not have a steering wheel. it intuitively feels kind of like a segue. you shift your body weight and it goes that way. you can also change the color by the way because the whole car is basically a monitor. this one here, the next one is something called the i wrote to you operate it kind of like you were skiing. you do have a steering wheel, but you can tilt to either side
and go around the corner and that sort of thing. here you can see this is a monitor with one driving. that does not look like mississippi to me. anyway, people look happy. over here, this is something you might be interested in because this is potentially somebody who might be a little elderly, who can't drive as well anymore. this is something called the i ride. you can get a folded up wheelchair in the back. it can take control if for some reason you have a spell as an older person. it can take control and drive you and not crash you. it got the door so you can get them very easily. and here is something they call the car of the future. this is the concept eye. this anticipates your needs its size. you drive it but it gets to know where you want to go and they will say hey, do you want to go where you normally go? we'll take you there. kind of a crazy looking one,
too. nobody needed any gas or oil for those cars and neither does this. this looks like a gas pump, right? it's actually hydrogen pump. you put in your hydrogen car, which is right here. the toyota marais. stuart: it's not like we have spells. it's getting out of the car this very low to the ground. as the google define not extremely difficult. i can no longer drive sports cars. that's another story. you're walking out of the shot so we have to leave you. we'll see you soon. now this. he thought it was funny. job cuts coming to space cuts, laying off 10% of the workforce. why are they doing now? we'll tell you. california, los angeles teachers are on strike. they want higher pay and smaller class sizes. a half-million students are in
stuart: the dow was down 120, but we have been down 200 dirty. we've got the vast majority of the dow 30 on the red. that is they are down. elon musk, he runs spacex and they are cutting jobs. tell me why. transport it is not making money. let's face it, spacex is not making money. it is not profitable, in seattle, florida and texas, headquarters there taking the biggest hit. what they are looking to do is fewer launches rockets this year. reusable rocket is very, very ambitious, internet satellite star link it's going to be called to bring us constellation
in the atmosphere in the internet. he's streamlining. totally got 9% of its workforce. >> just going to be returned and stay in business for a long time. the processes and just getting underway. started the day with citigroup. revenue fell a bit short. stock is up 3.5%. that is a turnaround. citigroup was down earlier. out to $2 gain. solid stock at this moment. quincy crosby is the chief market strategist and she's with us now. you don't care so much about the profit number. to you, the big number two watches the revenue growth. why? >> to revenue growth especially now after the unrelenting selling in december is a picture of demand, a picture of
potential growth, future growth. how many contracts have you closed? the other thing is when revenue growth comes down to munch, companies are making as much money. they stop spending and if it doesn't pick up they start to let people go. it is one of the purest pictures and demands for not just your product, but for your sector. analysts will be able to see overall growth. last quarter of the stellar. we almost had a 10% move in revenue growth. stuart: delicate profits, earnings per share. how much money did you make and how much will you make in the
future. >> collocation economics. if you're a small business owner or ceo of a large company or a tesla. if you are not bringing enough money at some point, you've got to cut the costs to make the bottom line. stuart:'s a real fast. if there expect in a 12% jump in -- jump in profits. >> it is down good for 7% or 8%. that would be excellent at this point. stuart: thank you for joining us. we appreciate that. britain's prime minister theresa may is addressing parliament.
she's had a few statements and she's made some. the u.k. has agreed to further talk -- the e.u. has agreed to further talks after tomorrow's vote and the issue of a hard border in northern ireland had been discussed and there will be no return to a hard border. she says the european union has also agreed to further trade talks after the vote. she said give the deal a second look. that is a compromise. a very nice good sounding word from the prime minister ahead of the vote tomorrow. she is expected to be defeated here and she's coming back to saying more talks afterwards. don't worry, we're still in again. i wonder if that makes any difference to the vote tomorrow, which is a crucial vote. we shall see. congresswoman alexandria ocasio-cortez continues to rack up the headlines. she dominates the conversation among democrats.
joining us now, allie's sake, posted the podcast relatable. she's dragging democrats to the far left. you agree with that, would you? >> may be. i don't know if she is so much the cause of the far left as the result. if you look at various studies including one by pew, and over the past 10 years when barack obama was in office, democrat new one every single policy, whether it's immigration or guns or abortion or welfare or health care. they've been moved to the far left for a while bush lays fertile soil for people like earning sooners and ocasio-cortez to have influence. we're why would agree with that statement issue represents no one else which unfortunately are very keen on socialism and because there is a larger generation are about to be largest generation, democrats are standing to respond to that. stuart: she really runs and works well on social media. and that gives her enormous leg up with millennial because
that's for social media generation. i would say that she does now have significant influence on the entire democrat party and their campaign platform of 2020. you're not going to dispute that, are you? >> no, definitely won't dispute that. she has millions of followers on every platform and she's really skyrocketed. whether or not i like her policies, which i don't come a spoiler, she is very likable. she's extremely relatable. a lot of millennial see themselves in her going from a bartender a year ago after being a congresswoman now is kind of impressive to a lot of millennial. millennial like socialism for the most part and she represents a policy they think will be good for america. stuart: this surprised me when i saw democrat take off for that each party bashed in puerto rico as the government was shut down. that really surprised me. did you have like 30 lawmakers,
senator menendez on the beach as the government shutdown. i was surprised to see this because the optics are bad and then she handles upticks much better than us. they criticize donald trump for when the government has not shut down. that's why they are in puerto rico to see that. i don't blame them for that in particular. domestic this communicates to furloughed constituent who are not getting a paycheck, trying to make ends meet, making sure they're providing for their families if they really don't care which are going through. were going to enjoy ourselves and were not interested in coming together and making a deal that's good for the american people. >> if republicans had done something like this, if this were a republican bash on the beach somewhere, you'd never hear the end of it. >> it would be headlines everywhere. stuart: allie stuckey, thank you for joining us. we want to see you again soon.
big news out of california in los angeles 30,000 teachers are on strike. the union and the second-largest school district that could reach an agreement on pay and class sizes. that's very important over there. more than half a million students are in limbo. the districts try to come up with substitute teachers do hold classes. that's a tough job. half million students in limbo as of now. coming up next, two women who say manufacturing is making a comeback. they founded the company in r. riveter to make luggage, handbags and they figured out a deconstructed assembly line so you can manufacture at home anywhere in the country. they're on the show next. ♪ ♪ introducing the new capital one savor card.
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liz: president trump right now is on its way to new orleans. before he left, the president talked about china. roll tape. >> were doing very well with china. they're having a hard time with their economy because of the terrorists. we're doing very well with our economy. record numbers -- just hit a record. we are doing external of the country.
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stuart: pacific gas and electric has entered encrypts the. dave plays $30 billion worth of liability for their role in last year's devastating wildfires. important to note, service will not be stopped for california customers. the lights will not go out. they'll continue in business. just yesterday ceo geisha williams announced that she would be stepping down. she is out, left, gone. no replacement at this point. one more point on this. fox news reporting that a group of california lawmakers took a trip to hawaii with utility company executives while the fires burned. the utility is reportedly pushing for a new state law that would raise electricity prices to offset costs from the fires. they went to hawaii for the meeting. now this. manufacturing boom in america. i think mr. trump has a lot to
do without. according to our next guest at least. joining us now with the co-ceos of a company that takes american made too hard. lisa bradley and cameron cruise with us. they are the cohead of r. riveter. have you got that right? >> sure do. stuart: by digger at the get go. you've broken down the manufacturing process so people can do at home. have i got that right? >> absolutely. we wanted to create a manufacturing platform that would bring opportunities to those that didn't have ability to receive jobs after move after move the military. stuart: it's not a great big factory someplace. it's individual units all over the country. thousands of people at home just making the parts? spin the correct. military spouses will make parts and pieces, campus bars, and they get to take that job with them no matter where the military takes them and we put everything together in north carolina just outside of ft. bragg. stuart: you should've told me. this is military spouses?
you are military spouses yourself? so you gave towards them working at home in this manufacturing process. how many bags did you make last year and sell? >> around 21,000 handbags and accessories alone. stuart: 21,000, that's a lot. that's good. >> it's amazing it's creating opportunity where they really needed. one third of every dollar goes back to the hands of the military spouse as we create sustainable incomes are a business model. stuart: 30% of the overall money goes to the individual in the home is making the stuff. >> to military spouses that are all part of our value stream. stuart: i like the bags by the way. train for their good-looking. stuart: how much. >> we have her range. $120 this is $240. stuart: that's not bad. i'm used to for sake staff. >> in all made in america, which
is an amazing thing to do competing with the big players in this market and knowing that your purchasing power is really going towards the women. stuart: terrific idea. military spouses at home doing something to make money, serious money. how many military spouses have you got an assist them? >> right now we work with about 35 to 40 military spouses all over the country. we call them our remote riveters. stuart: 30 to 40 military spouses created 21,000 bags and accessories last year? >> yes. stuart: that productivity is incredible. >> are you unionized? liz: are you going to go public? >> will talk about that later. stuart: are you profitable? >> yes, yes. that's the amazing thing. they probably couldn't do this. more expensive to ship parts across the country to provide income to military spouses. but we're not doing this for efficiency.
were doing this for opportunity and to make a high-quality handbag. stuart: r. riveter. is that a play on rosie the riveter of world war ii? >> absolutely. she was the icon. we can do it. she stood for a woman's right to work in basically when lisa and i started this company, we knew if we were going to have anything foresaw that military spouses were going to have to make it and we would also give opportunity and provide opportunity. stuart: you've done it. lisa bradley, karen kruse, thank you for being with us ensuring a great deal. appreciated. stuart: the dow industrial at the back of this. let me tell you about two dow components in particular. disney, ceo bob iker got an 80% pay raise last year according to a document. no impact on the stock. making a lot of money. looking at apple. one analyst says apple has to aggressively cut prices in china
on an iphone xr and a video acquisition is needed soon. apple is drop below $2150 a share. escape to europe. prime minister theresa may, she addressed parliament out of the brexit though which is tomorrow. mais speech seemed to go over well until the very end when there were lots of cheers from the parliamentarian in front of her. our own ashley webster is live in london. we'll get to shortly. ♪ amazon prime video is now on xfinity x1.
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stuart: britain prime minister theresa may put out a big speech in parliament today. that is one day and it answered the big vote tomorrow. ashley webster is following us in london. what did she say, ashley? >> well, almost all of the speech was about the irish backstop issue and trying to give mps reassurances they would be temporary if it was ever needed at all, but i don't think it's enough. the question being as a legally
binding. i really don't believe it's a game changer by any means. guess who just went by and is joining us right now, our good friend, nigel farage. what you think of the shambles? >> we are headed to the biggest constitutional crisis and 350 years where parliament is attempting through the speaker that's not neutral to take back control of the government. what that means that the legislation in place that should deliver brexit on march the 29th either with or without a deal because that's what it says. 500 mps and we are within a couple of days. >> let's play this forward. tomorrow night we'll have the vote likely to fail. then what happens? >> she's got three days to come back. so say i want to see bad lovely
mr. junker which of course they won't. assurances aren't worth the light. my guess is, and i feel this quite strongly we are headed to parliamentary deadlock. the default of leaving with no deal, which i'd be delighted with because it gives us independents. i doubly believe parliament would allow that to happen. we are funding 75% jobs now seeing article l extended. it's not actually leaving on march the 29th. i'm telling you what i think will happen. ashley: what about a second referendum on the that's gaining momentum. >> is gaining momentum in westminster. a lot of people say for goodness sake we've done all this. why can't we get on it? once we get the extension i think the argument in the circles here that we should have another go at this. i would put it better than 50%. ashley: what about theresa may?
is she going to be out? >> i've never seen the prime minister. how she gets out of bed in the morning. one thing i admire her for a she is human resilience. at the moment you've got a party that a leadership contest blow themselves up are. even as she gets beaten tomorrow. ashley: what about stuart varney saver politician jeremy corbyn? >> isn't it funny the labor party had no policy at all. the conservatives were not the conservatives. the tories wreck themselves to bits. although, you have to say that the prospects of a hard left socialist governments are getting closer. ashley: and no chance of a hard brexit. >> brags it is brexit. that's what we voted for, to become an independent country. the real tragedy is had we had a strong leader who chosen a fork in the road and gone with it, the country would've come behind in all be done by now.
the vacuum of weak leadership we've seen the establishment from a friend of big business filling the gap. ashley: thank you very much. there you have it a very optimistic nigel farage. 75% chance according to nigel farage, that the exit they will be extended. stuart: in plain english, doesn't look to me like the birds will actually leave the european union. that way it looks to me. we are out of time, but there will be a little bit more "varney" next. ♪ comcast business built the nation's largest gig-speed network. then went beyond. beyond chasing down network problems. to knowing when and where there's an issue.
deal to lease 10,000 square feet of space inside the iconic chrysler building in new york city. they would use that space to build a new retail store. these are the kings of the online business, going back, maybe, back into the actual store business, real bricks and mortar store business in the chrysler building in new york city. liz: which is put up for sale by abu dhabi and tishman steyer. that could raise the sale price of that building. amazon continues to make shrewd moves here. to have the amazon located in the chrysler building, known as iconic art decco. stuart: center of manhattan, go there, buy real stuff. hold it, touch it. that is my -- >> impulse buying you walk out, you don't know how much is charged to your credit card.
that is correct. we don't know. stuart: knowing amazon it might well be, walk in, flash your phone, walk out with the stuff. you could go crazy like that, couldn't you? i'm a little tight. so i wouldn't bo crazy. neil, any comment please. neil: a little tight? stuart: i knew it. neil: a little tight. oh, my god. i can imagine you in there, varney, go, we have got customers. please go. thank you very much, my friend. that is weird the whole chrysler building situation. imagine flash your phone to buy the building as lizzie pointed out is up for sale. the president will land in new orleans soon. addressing a lot of farming interests. president saying avert a shutdown, revert to an emergency, he ain't buying it. >> that was a suggestion that lindsey made but i did reject it yes. i'm not interested. i want to get it solved.