Skip to main content

tv   Varney Company  FOX Business  April 2, 2019 9:00am-12:00pm EDT

9:00 am
a airports so they can be making more. what happens when the minimum wage goes up? maria: the price will go up. that's what she doesn't know. have a great day, everybody. stuart varney begins right now. stu, take it away. stuart: good morning, maria. good morning, everyone. the president has repeated his threat to close our southern border and keep it closed unless mexico takes real action to stop the migrants and caravans that have brought chaos. 750 agents being reassigned to the border, maybe up to 2,000 later. the president is considering appointing a border czar. he plans to visit the border friday. if there's a closure, whoa, big disruption. we get a lot of our produce from mexico, avocados, strawberries, tomatoes will probably be in
9:01 am
short supply. the border closure threat stands. to the market. 2019 has been a terrific year. the dow gained over 300 points monday. that's a good start to the new week and the new quarter. no real backing off today. dow futures suggests we will be down 10 to 15 points at the opening bell. nasdaq futures suggest a tiny gain. how about lyft. went public friday at $72 a share. jumped on day one, backed off yesterday on day two, and in premarket action today, lyft is down to around $67 per share. reminiscent of facebook, maybe, which had a rocky start but rallied big-time later. let's see what happens to lyft. it is a pointer for uber, pinterest, airbnb and others. joe biden in some trouble. another woman accuses him of inappropriate behavior. what's that going to do to his campaign? and we have guests who think stocks will hit new highs real soon. "varney & company" is about to
9:02 am
begin. stuart: all right. good morning. again, we begin with joe biden facing a second accusation of inappropriate behavior. susan? susan: the second woman is accusing biden of improper physical contact. her name is amy lappos from hartford, connecticut. this goes back to 2009. she basically said during a fund-raiser, she said the touch wasn't sexual but he did grab me by the head, put his hand around my neck and pulled me in to rub noses. i thought he was going to kiss me on the mouth. this follows the nevada lieutenant governor candidate, lucy flores, over the weekend that basically said biden put a slow kiss on her head, smelled her hair, inappropriate contact
9:03 am
and contact once again but biden's team says they strongly refuse and deny these accusations and that he was inappropriate around women, but social media has gone crazy with lots of pictures of how he's kissed or touched or hugged individual women in the past including some celebrities like eva longoria. stuart: at this point you really have to question whether or not joe biden will get into the race, or will he be knocked out of it before he even starts. that's a big possibility here. ashley: this continues to go o this story. susan: it's also a good test for him to understand the scrutiny he will be under if he does announce a presidential run. stuart: yes. the "new york times" has an op-ed today saying it's not biden's time. when the "new york times" goes against you and you are a democrat candidate, you've got a real problem. ashley: yeah, you do. stuart: if that happens, if he's not in the race, what happens? where's the moderate?
9:04 am
more on this later. let's get to the immigration story. president trump is going to the border on friday. yes, he's still threatening a closure, maybe as early as this week. joining us, congressman lance gooden, republican from texas. sir, you are a border state guy. do you support closing the border? >> absolutely. we have run out of beds at the border. we are releasing immigrants who have crossed over illegally into the arms of human traffickers. we have a massive problem at the border and i'm not really worried about the price of avocados right now. stuart: no, but there would be serious disruption. of course, we don't know what degree of closure we are talking about. total closure or let some stuff in and out. we don't know at this point. nor do we know whether there will be a closure. but any kind of closure implies real chaos on both sides of the border. are you prepared for that? >> you know, i am, because we are in a state of chaos right now. we have illegal immigration that's gone unchecked for years. we have built up to this point to where we have no control over
9:05 am
who's coming in and out of our country. the negative consequences that come with closing the border just don't outweigh fixing the problem at the border. president trump stands ready to do that. he's the only member of the government that has the power to do this. congress has not come through for the president, has not come through for the american people. it's time to close this border and fix the issues, get the wall built and get some controls going. stuart: we have reports of migrants coming across the border being immediately released into those border cities, literally wandering around the streets in large numbers. is that accurate? >> that's absolutely accurate, yes. stuart: who's paying for this? >> the american people are paying for it. and all of these folks who are saying we can't close the border, we can't close the border, where is that passion for border security and for doing what's right? where's the passion for stopping this human trafficking? we've got to say enough is enough. the president has said that. the president threatened to close the border and i suspect he will make good on that threat
9:06 am
this week. i don't know how long he will shut the border down for but it won't surprise me for a bit if he does and the chaos that ensues will be worth it if it means in the long term we have meaningful border security. stuart: how do you feel about the people of texas -- sorry, how do the people of texas feel about this? because there would be disruption in your great state. >> we have had disruption for decades. we have unchecked border entry. the people of texas are fed up with this. the people of texas want this border crisis solved. temporary pain at the border because it's shut down, economic pain, is not going to outweigh the benefits of actually doing something about the border crisis. the people i represent say shut that border down. if we've got to leave it shut down for a year, so be it. they want the crisis at the border fixed. they are fed up. i'm fed up. the republicans in congress are fed up. this could have been solved years ago. stuart: tough stand you're taking and we appreciate you being with us. lance gooden, republican from the great state of texas. thank you, sir. appreciate it. >> thank you. stuart: that's politics. that's immigration. that's the border. now to your money.
9:07 am
maybe slightly lower at the opening of trading today after a big pop yesterday. some fairly good vibrations over china sent stocks higher yesterday. we had a 300 point plus gain on the dow yesterday. rebecca walther is back with us. first, let's get this clear. you have been right consistently on this program throughout this year. you said the market is going up and going higher. is it going higher still from where it closed yesterday? >> oh, i think so, stu. i think it's a good day, you know. we've got great china numbers. even the u.s. numbers are -- consumer durables were better than expected. that's a good sign. everything right now is going good. the federal reserve giving us some patience makes consumers even more confident. i think we are doing good. stuart: what's the driving force behind it? 2019 has been a fabulous year for stocks. they have just gone straight up, basically. they have gone up all the way through to the end of trading
9:08 am
yesterday. what's the driver? >> well, it's a combination of factors but if we look at where we started, we had such a down start from october to december of last year so the market was really looking to rally after that and say hey, you know what, especially the federal reserve just saying hey, we are going -- we are going to have some patience. almost the first word out of jay powell's mouth, we are going to have some patience and that gave the market a sense of relief. obviously china and the u.s. having, we thought we were going to have a deal but now even president trump is showing patience on that front. that's making economies relax, too, and not be so tense but china's numbers coming out, u.s. numbers coming out, manufacturing coming out better, it's giving us real positive relief of okay, there's a future deal here, we hope, and both of the two biggest, you know, producers in the world are doing well. so that is a huge driving factor right now. the federal reserve allowing this to happen and not sort of interjecting prematurely has also been a huge factor. stuart: lyft went out public on friday at $72, popped on friday, came down a bit yesterday.
9:09 am
premarket today, they are around $67 -- no, $66 a share now. would you touch lyft at this point? would you buy it? >> no, stu, i would not buy it right now. i will tell you why. this is the largest ipo in the history of any -- $911 million loss last year. this is a new kind of business model. what people are buying is the revenue growth. they grew revenue 100% last year so over $2 billion but they are still losing money much like uber. right now, it's the record, uber will set the record when it goes public in the spring. what we are talking about here is growth, revenue growth, and we've got the investors, it's a great time to get into ride sharing. this is the first ipo we have seen in this space so people were very exuberant, friday shows that, but now investors are digesting the financials and saying when is this going to become profitable. i also think uber will take some demand so i actually wouldn't buy right now and i would wait until we see what happens with uber. i think uber will make lyft depressed. stuart: thanks for joining us. congratulations on your correct
9:10 am
calls so far this year. thanks very much. big story here. amazon's whole foods, lowering prices on a whole bunch of items. i guess this is no longer whole paycheck. ashley: that's the image they don't want, of course, amazon, which is known for low prices and convenience and whole foods in the past called whole paycheck. they are going to cut the cost on over 500 products at whole foods, with a focus on produce and meat. they are going to cut prices by an average of 20%. that will stay in force we are told through the end of the year which is pretty interesting. there's a whole slew of employees at whole foods that are scheduled to work overnight to retag all of these items. they actually had to raise prices in february, whole foods, because of higher transportation costs that came through suppliers and whathave you. of course, let's not forget it's a very competitive market going up against walmart and kroger and all those others. stuart: i want to see what happens to their competitors
9:11 am
today, when the market opens. the krogers and walmarts of this world, how do they respond. susan: amazon is also launching their own grocery stores, their own branded grocery stores maybe later this year. it's not just whole foods. they are looking to get big into groceries. stuart: amazon stock has gone back above $1800 a share. susan: yes. that's right. stuart: now this. first it was san antonio, now it's buffalo. why another city is blocking plans to bring chick-fil-a to their airport. get back to president trump's threat to shut down the southern border. big economic impact expected but how bad would it really be? can he put a dollar number on it? can he quantify it? former reagan economist art laffer coming up on that one. and the widow of the american sniper chris kyle out with a new book about ordinary people doing extraordinary things. i want to know if she thinks american spirit, that's the name of the new book, is still alive and well with socialism on the rise here. "varney & company" just getting
9:12 am
9:13 am
9:14 am
sometimes, they just drop in. obvious. cme group can help you navigate risks and capture opportunities.
9:15 am
we enable you to reach global markets and drive forward with broader possibilities. cme group - how the world advances. ♪ stuart: we are heading into an election year. seems to me that socialism is on the rise and there is clearly a battle brewing over which direction our country's going to go in. taya kyle is with us, author of the new book out today, "american spirit, profiles in resilience, courage and faith." she joins me now. welcome to the program. >> thank you.
9:16 am
stuart: an honor to have you with us. >> knock it off. stuart: start with this. define the american spirit. >> i think the american spirit is a lot deeper than just politics. i think that the american spirit is about passion and purpose and the pioneers came over and wanted to do something different for the next generation, and they were willing to sacrifice and face great odds in order to help their neighbors. i think that's the true american spirit. stuart: there's an individuality. individual liberty and freedom. >> 100%. stuart: do you think it's alive and well in america today? >> i do. but i think you have to look for it. when i was seeing it, when i was out on the road traveling and i was grieving and healing, i found that these stories were there if i just was open to it, and people would share their stories with me. they helped me heal and i thought i cannot keep this to myself. it's very healing to see this goodness and neighbors helping neighbors instead of, i mean, the stories in the book "american spirit," there's 36 of them, is a cross-section, people bringing their individuality to
9:17 am
help their neighbors. you don't know what political party they're in. stuart: give me your best example. >> there are so many. we have everything from kids' lemonade stands, we have jim and lori word, who are helping foster kids who age out of the system. people don't think about that but the requests for these kids are literally like a birthday party because they are 18 and aged out and nobody is paying attention to them anymore to horses and heroes, taming wild mustangs to get over ptsd. it's cool stuff. stuart: isn't the american spirit also about the american dream? >> yes. stuart: trying to climb the food chain, bringing as much brain, talent, drive and ability that you can to move up the ladder. >> yes. stuart: isn't that part of it, too? >> it totally is part of it. what i'm finding is that yes, you have that in your career and in other areas, but there's this other part of us like our soulfulness that i think is also alive and well. when you have a passion or purpose or a gift, if you bring it to the table to help your neighbor, you never know how
9:18 am
that sparks a movement, right? it happens. sometimes it will change your career path or sometimes you are doing it on the side but that individuality is so important not only in business but also in helping our neighbors. stuart: there's a lot of group-think in america. >> yeah. a lot of it. stuart: i'm not sure i like that. that's antithetical to the american spirit. >> right. i don't think we have to choose one or the other or this side or that side. i think we have to celebrate that we are free people, we are individuals, we have different gifts and together, collectively we make a better team but because we are individuals. stuart: do you like hyphenated america? you could say i'm an anglo-american. i would never use that expression, ever. i'm an american. >> i agree 100%. stuart: i like your book. >> i like you, stuart. stuart: what's the full title again, please? >> "american spirit." that's the full title.
9:19 am
stuart: it's literally out today. >> it literally is out today. stuart: where's my free copy? >> i got it for you in the back. stuart: okay. taya, it was a real pleasure. thank you very much for being with us. thank you. another story about chick-fil-a. first it was san antonio, now no chick-fil-a at the airport in buffalo. why? ashley: because for the same reason san antonio used just two weeks ago. they say chick-fil-a has a long history of supporting and funding anti-lgbtq organizations and therefore, they do not belong in the buffalo airport. chick-fil-a has responded saying you've got it wrong, you don't understand our message. we support programs that supported the array of youth and educational programs nationwide, there's a problem they say with our messaging but what they are being accused of they say is simply not true. san antonio two weeks ago said you can't be in our airport, now buffalo has followed suit. stuart: i think the american spirit suggests you should be able to shop and eat wherever you choose. if you don't like it, don't eat
9:20 am
there. ashley: don't forget mayor de blasio here in new york who was very anti-chick-fil-a down the street from the studio here. the response, the line went around the building two or three times and still to this day, it's always packed in there. stuart: i got you into the discussion. >> you sure did. i'm all about it. economics, supply and demand. stuart: quickly, check your money. we will be down a little bit at the opening bell but please remember, we were up over 300 on the dow yesterday. down maybe 30 this morning. martin shkreli facing new punishment for using a contraband phone to run his pharma business behind bars. what a story. of course, we're on it.
9:21 am
you wouldn't accept an incomplete job from any one else. why accept it from your allergy pills? flonase sensimist relieves all your worst symptoms, including nasal congestion, which most pills don't. and all from a gentle mist you can barely feel. flonase sensimist.
9:22 am
9:23 am
9:24 am
stuart: bad boy martin shkreli is in solitary confinement. i think this is about the cell phone. ashley: it is. well, this came to light after "wall street journal" did a report saying he was running yet another operation using a cell phone out of the correctional institution in fort dix, new jersey. he's operating a business called phoenixus, which is essentially a reincarnation according to the "journal" of his turing pharmaceutical company which we know jacked up prices on a slew
9:25 am
of drugs. he's serving seven years on security fraud and conspiracy, but apparently he's not letting it slow him down. now the prison has got on to this story, he's in a special housing unit basically under watch, apparently does not have a phone but you know what, he's one of those characters, isn't he. just doesn't seem to -- stuart: yes. ashley: -- go way. stuart: i do want to get to the measles outbreak. 387 cases confirmed in 15 states. do we have anything to add to this? susan: we have six outbreaks currently taking place, and that includes here in new york state, california, new jersey as well and washington. just last week we had rockland county here in new york banning any unvaccinated people under the age of 18 from public spaces. the county there is reporting 153 confirmed cases and yes, that's less than 2014. in 2014 we had 667 measles cases but this is spreading fast across the country and they really want to clamp down on this. stuart: so they should. check the market, please.
9:26 am
we are about four and a half minutes away from the opening bell. we will be down about 40 points on the dow. the nasdaq, though, will be ever so slightly higher. back after this. fact is, every insurance company hopes you drive safely. but allstate actually helps you drive safely... with drivewise. it lets you know when you go too fast... ...and brake too hard. with feedback to help you drive safer. giving you the power to actually lower your cost. unfortunately, it can't do anything about that. now that you know the truth... are you in good hands?
9:27 am
9:28 am
9:29 am
stuart: a big gain for the dow yesterday, up well over 300
9:30 am
points. major gain, 1% higher. we're expecting the dow to pull back a little at the opening bell this morning but that's because a couple of dow stocks, two or three of the dow 30, are on the downside. that's affecting the overall average, not the overall market. here we go. 9:30, we're off, we're running, we are down in the first few minutes, few seconds of business. down 60 points right from the get-go. we're looking at about half the dow 30 on the downside in the red and about half on the upside. okay. here we go. 47 points lower for the dow. how about the s&p 500? where is that? it's up, okay, look at that. a fraction higher but we'll take it. the s&p is up, the dow is down. how about the nasdaq? i bet it's up. is it? keep me waiting. no, it's down three points but hardly any loss. .04%. i will call that dead flat. why not. i can get away with it. mike murphy is here, d.r. barton is here, susan li, ashley
9:31 am
webster. we are all here together. the entire conspiracy. great year for stocks thus far. just gone straight up right from the get-go. murphy, what's the driving force? >> people realize that when you look out, we're not looking at any major negatives. we are actually looking at a strong economy. we are actually looking at housing starts to tick up a little bit so there's more positives out there for the market. people are saying best place to invest right now is the market and remember one thing. when you have a strong quarter like we did in q1, people start feeling good about their investments again so they want to allocate more money to them. >> strong earnings in q1, much stronger than anticipated. i think central banks around the globe are helping and this has been a broad rally. lots of stocks participating, not just a few big stocks dragging us up. that's very key. ashley: if you want yield, where are you going to get it? u.s. equities, right? stuart: at this moment, that's right. this is a story about amazon and its impact. amazon is lowering prices at
9:32 am
whole foods. 500 items, lowered in price by an average of 20%. they may keep these lower prices for the rest of the year. i would say that's bad news for amazon's competitors, isn't it? >> very bad news. but the bad news for the competitors started when they bought whole foods. remember, the name was whole paycheck for whole foods. so now amazon is using them, they have lowered -- they are lowering the price and will bring your groceries right to your door. i do the food shopping in our house. sometimes you press the button on the phone and amazon -- ashley: that's how you do it. >> they bring it to you. for a prime member, there's no charge. stuart: you have kroger down there, so there is some reaction to the whole foods price cutting. how about the price of oil? pretty close to a five-month high. i saw oil this morning -- >> up again. stuart: $61.92. six of one, half a dozen of the others. about $62 a barrel. the price of gas just keeps on
9:33 am
going up. look at this. $2.69 is your national average for regular as of now. bad economic impact or not so bad? >> i think in general, if we go up significantly from here, some people are talking $80 oil. that would really hurt. we've got to remember when we got a little bit of move like we have now, about 20% of the stock market is influenced by energy so higher energy prices helps about 20% so this is sort of a mitigating effect. stuart: look, we're down 82 points. weren't expecting that. walgreens actually is costing the dow 57 of those minus 82 points. bear that in mind. do we have bitcoin? susan: back to 5,000. stuart: back to $5,000 a coin, i believe. why are you shaking your head? >> i think a lot of individuals watching -- people sitting at
9:34 am
home lost a lot of money chasing bitcoin at home. i still don't see why anyone would buy bitcoin at 5,000 or 10,000. there are better places to invest. stuart: i wouldn't touch it with a ten-foot pole. what can i say? walgreens. can we show that again? that's having a real impact on the dow. walgreens is down, look at that, down 13%. ouch. that was just an unfortunate outlook? >> bad outlook and it comes on the heels of cvs getting crushed by about 9% when they announced in february. this is more of the amazon effect. stuart: that's a drop and a half. 13% for a company like that? you can't go anywhere in america without a walgreens on a street corner somewhere. >> they have to give a better experience to the customer because the customer can sit at home and go on amazon from their phone. they will have to do more to drive you into their stores if they want earnings to pick up. stuart: the amazon effect again? goodness me. the government says the fix for boeing's max jet will take longer than expected. the stock, it's a dow stock so
9:35 am
that's taking a little -- not much, but taking a little bit off the dow. how about lyft. it closed below its ipo price. yesterday it was -- now, this morning, you're at $68 a share. $72 a share was the buy-in price. would you touch lyft now? >> i wouldn't. we are not owners of lyft stock. but it sets up really interesti interesting, at $87 where it opened was real easy. you don't chase the stock here. if you are sitting at home and felt like you missed out on the lyft ipo and you believe it's a long-term hold and you can get it at a discount to where the stock came public, have at it. susan: as we mentioned, being a public company comes with different scrutiny. facebook, what, went public at $38 a share. they went up 1% on day one. however, facebook was profitable going into their listing and they returned 24% on average year to date, mind you, over all this time as a public company. i think lyft is a prove-me story. stuart: when you are losing $900 million.
9:36 am
>> if you want lyft, you have a chance to buy it low. stuart: think so? down from here? >> definitely believe so. stuart: you are on tape saying that. all right. you would not buy lyft at $68? >> i would not. i think we will get it at a substantial discount from this price. stuart: microsoft donating, i mean it, donating 500 patents to startups. can you tell me why? susan: so there's a caveat, always there's a caveat. you have to spend $1,000 a month as part of the startup program to start with. this is about attracting future unicorns, decacorns, getting them into the azure cloud microsoft computing system. there's competition from the likes of amazon web services and oracle so get them young, get them early and this organization which they are supposedly donating these patents to include the likes of netflix, epic games, lyft, uber, gm. stuart: microsoft's big hit is
9:37 am
azure, their cloud program or whatever you want to call it. this give-away of patents helps that cloud stuff? >> yes, because you get that, you can also get the patents but there's a big extra point here. patent trolls are one of the biggest problems for startups, people that go after your patents and try to tie you up to make you pay them money. microsoft is donating a lot more than the 500, in the thousands to help offset that. four people who use azure and who have not sued an azure user, so they are really tying into the cloud to find the new unicorns. stuart: in a dow which is down 90 points now, microsoft is actually on the upside. >> you covered it with lyft, that gm had made a big investment and done really well in their investment. microsoft is looking to invest in the next hot startup or startups. the one theme here we are talking about a lot is the private companies. there's a lot of action there. there's a lot of money coming in there. technology is changing the way
9:38 am
we live our lives. stuart: it surely is. that's a fact. here's another example of that. mcdonald's are investing in a mobile app. i guess that makes it easier to preorder your stuff on this, is that right? susan: yes. it's on the heels also of the $300 million purchase of that israeli company which helps digitize your ordering experience whether it's at the drive-through or the in-store kiosk but this is the way mcdonald's wants to move. it's the restaurant of the future. we know there are changing tastes. millenials are not eating burgers anymore. this is a way to i guess get that data and also to get into -- stuart: don't you think that's late in the game? they have a mobile app you can order food on? susan: you can't order -- uber eats delivers mcdonald's. that came into effect about two years ago. this is about owning their own delivery service. >> i think one of the differences that they proved the kiosk is rather than walking up to the counter and ordering your big mac, when you are doing it mobile, you will order different
9:39 am
things, try different things and order more. susan: also increases ticket prices per order as well. ashley: better late than never, i guess. things are changing so fast. stuart: look at this. listen to this. say it ain't so. burger king launching a meatless whopper. d.r.? get on with it. >> yes. this is really -- it's actually exciting. what happened is one of the world's preeminent biochemists has reverse engineered why a burger tastes good to the molecular level. these burgers, almost everyone who tries them say they are indistinguish able from a regular hamburger. ashley: do you really want a chemist to be designing your food? >> they have lots of good implications and it's scaleable. they make the ingredients through fermentation of yeast so they make -- there's something that's a protein that makes meat taste like meat. they are going -- this is going
9:40 am
to be a big thing. 20 years from now we will be going why weren't we all on this. stuart: you have a degree in chemical engineering. >> i do indeed. stuart: i knew that. is mcdonald's going to have to follow suit? >> here's the thing. i see it more -- that's my only question. d.r. hit the nail on the head with it. it's an awesome business and very scaleable and the wave of the future but i don't know if someone is going into burger king for that. like i could see maybe a chipotle following suit. susan: so yesterday, april fool's day, they had all pickle big macs. right? stuart: that's right. it didn't -- a lot of people said i want it. 9:40 eastern time. you know what that means. you're out of here. thank you very much indeed, gentlemen. good stuff. check the big board. we are ten minutes in and down 90 points. a lot of that is accounted for by walgreens, which is falling out of bed this morning and it is a dow stock taking the dow average with it.
9:41 am
we have google rolling out new features with g-mail, part of an upgrade. you can create scheduled messages, decide when they are going to be delivered, when they're sent. g-mail will also suggest subject lines for you if you can't come up with one on your own. they are still going the read your g-mails. new yorkers going to be paying a whole lot more in taxes. governor cuomo's new budget includes taxes for driving into midtown manhattan. taxes on rental cars, vaping and a whole lot more. i say it shows the democrats are desperate. they will tax anything. they need the money. my take on that in the 11:00 hour. president trump is not backing down on his threat to shut the border. just how big an impact it will have on the economy? we will ask former reagan economist art laffer next. - hello, i'm brad castillo.
9:42 am
did you know that americans who bought gold in the year 2005 quadrupled their money by 2012? even now, experts all across america predict the real gold rush is just beginning. don't wait another day. physical gold coins are easy to buy and sell and one of the best ways to protect your life-savings from the next financial meltdown. - [announcer] today the u.s. money reserve announces the immediate release of u.s. government issued solid gold coins for the incredible price shown on your screen. these gold american eagles are official gold coins of the united states and are being sold for the price shown on your screen. - with over a quarter of a million clients worldwide, we're one of the most dependable gold distributors in america. let us help you add physical gold coins to your portfolio. it's easy and it's affordable. give us a call today to get started. (gentle bright music)
9:43 am
- [narrator] today the u.s. money reserve is releasing official gold american eagle coins at cost for the incredible price shown on your screen. these government issued gold coins are official u.s. legal tender, made from solid gold mined here in america and fully backed by the united states government for their gold weight, purity, and content. do not delay, call now to purchase your gold american eagles for the amazing price shown on your screen. gold is now on sale at prices unseen in years and this year could be one of the greatest gold buying opportunities of all time. call now while vault inventory remains. as one of the largest u.s. gold coin distributors in the country, the u.s. money reserve has proudly served hundreds of thousands of clients worldwide. don't wait another minute, call now to purchase your american eagle coins at cost, for the amazing price shown on your screen.
9:44 am
stuart: it's 9:44 eastern time. we are down 80 points on the dow industrials. i have to tell you, much of that loss accounted for by walgreens which is a dow stock and it's down sharply. look at delta. it expects to make more money this quarter. the stock is up nearly 4%. $2 higher on delta. president trump talking tough on the border, threatening to shut it down. joining us now, former reagan economist art laffer. all right, art, let's speculate for a second. supposing it's a total shutdown, nothing goes across that border, what would that do to our economy? >> well, that will hurt it a lot. it really will. trade is really beneficial to both sides. i mean, we buy products from them that they produce more efficiently than we do. we sell products to them that we produce more efficiently than they do. it's a win/win. so it will hurt the u.s.
9:45 am
economy. i haven't looked at it carefully to figure out how much that damage will be, but you know, it's a price that president trump believes is worth it to stop this influx of illegal immigrants into the u.s. that's his call, not mine. but stopping trade will hurt the u.s. economy. stuart: okay. the president and larry kudlow and stephen moore may be going on to the federal reserve board, all of them want to cut rates i think by about a half percentage point, lower interest rates by a half percentage point. do we need a rate cut like that right now? >> well, we have already had a very major rate cut, stuart. if you have noticed what's happening to the ten-year bond yield to the short-term rates, all of those rates have come down quite substantially. my view is i think powell has accommodated the president's wishes. he was going to raise rates several times. he stopped doing that. i think powell is reflecting the president's desires on that and i think if we just keep rates where they are for awhile, i
9:46 am
think we will be okay. you know, who am i to disagree with larry kudlow. he's a great economist and he's trump's top economist and he's really good. stuart: perhaps there's an element of politics here. >> there might be. i'm shocked you would say that. stuart: the president doesn't want any kind of slowdown and certainly not a recession. >> let me tell you, i don't either. i do not want a slowdown. the question is, i think keeping rates from rising would be -- at least for the near term would be enough to keep this growth going. but you know, they may be right. we may need a little rate reduction there to get it going. i think patience right now is great. stuart: what kind of growth do we have at the moment? i think the first quarter, the first three months of the year, were going to be pretty weak. maybe less than 2%. what are we going to get for the rest of the year? >> you know, you've got two things going on. you've got the rest of the world coming way down which does hurt our economy, as you mentioned, the exports to mexico and imports from mexico, blocking that would hurt the u.s.
9:47 am
economy. if the rest of the world is not doing well, that does hurt us. our exports are down, imports are up because they are competing here. that does pull us down. we are part of a world community. that's very true. but then if you look at the other side of it, we had the best policies of any country in the world by far, we are the shining city on the hill, as my favorite president said, ronald reagan. trump has done a great job on good economic policies and we have the tax cuts, deregulation, sound money, we have all of this coming in. so i think the long-term prospects for the u.s. is we should be at a long-term rate of about 3% growth. i think that's going to be awfully good for the u.s. economy. ultimately, the world will pick back up out of it and when that happens, i think the u.s. growth accelerates quite substantially. stuart: that's a very nice forecast, art. you are on videotape saying it. not bad at all. >> you can't use that ever again, can you? i don't ever see you pull back all of my old quotes when i say we would have a boom with trump
9:48 am
and all that. i'm just teasing you. just teasing. the one time i was wrong. it's like ashley when i told him about moving from tennessee to new york. i'm going to remember that and pick on ashley forever for doing that. stuart: you were right. all right, art. >> you have been right all along, ashley, in everything else. just one mistake and what do they do? they pile on. like what they are doing with steve moore, by the way. they take one sentence out of context and then they pile on him. it's just not fair. what can i say? stuart: not much more. time's up. art laffer, thank you very much. >> my pleasure. stuart: look at this. the dow was down 90 points just a few seconds ago. now we are down, what, 45. look at that. we've got an even split, 50/50 just about winners and losers among the dow 30. better take a look at lyft. where is that right now? $69 a share.
9:49 am
we will talk to the guy who says we have a better chance of putting a man or a person on mars than lyft turning a profit. now, there's a dramatic statement. we will let him make his case, next. 2,000 fence posts. 900 acres. 48 bales. all before lunch, which we caught last saturday. we earn our scars. we wear our work ethic. we work until the work's done. and when it is, a few hours of shuteye to rest up for tomorrow, the day we'll finally get something done. ( ♪ ) i'm not really a, i thought wall street guy.ns. the day we'll finally get something done. what's the hesitation? eh, it just feels too complicated, you know? well sure, at first, but jj can help you with that. jj, will you break it down for this gentleman?
9:50 am
hey, ian. you know, at td ameritrade, we can walk you through your options trades step by step until you're comfortable. i could be up for that. that's taking options trading from wall st. to main st. hey guys, wanna play some pool? eh, i'm not really a pool guy. what's the hesitation? it's just complicated. step-by-step options trading support from td ameritrade
9:51 am
9:52 am
stuart: lyft's stock this
9:53 am
morning is at $68 a share, below the $72 offering price. joining us now, lyft analyst with web bush securities. all right, dan, you are the guy who said there's a better chance of a person landing on mars before lyft makes a profit. that's a strong statement. make your case. >> look, they will be losing $1 billion next year and it comes down to the profitability path, that's the issue why the stock has this overhang because we really don't see it. it comes down to outside of autonomous vehicles, that's really the only way we can see them making a profit, which is why this has been, what i view as a mini-debacle coming out as an ipo. it's an uphill battle for lyft i think, and i think investors are starting to feel a little bit of a white knuckle period here. stuart: you don't think, it's now at $68 a share, don't think that it stays there? you think it's going lower? >> yeah. i think from a lot of investors we talk to the path is lower here just because right now it's
9:54 am
a prove-me period and i think the big issue here is with uber slated to come out over the next four to six weeks, right now investors, you look at the valuation, it's hard to justify these numbers. i think right now, it's going to be a prove-me stock but also, remember there's many in the valley watching this because there's a whole slew of ipos that are watching lyft and that's the issue here in terms of the stock and the valuation of profitability path. stuart: okay. if i want to buy it i'm going to wait until it gets a bit lower, then i want to get into ride sharing services. that's how i would play it. now, you also cover tesla. you've got a target price for tesla, i think of $390 a share. that's $100 above where it is now. again, make your case. >> the case on tesla is near term, it's definitely an air pocket period. we are seeing that in terms of demand in the u.s. you know, from ev tax credits softer but it comes down to europe demand which we see as
9:55 am
accelerating. i look at the ev market, 2% share going to we believe 7% to 8%. i view tesla as a transformational company that we look at next three, five years as really changing automotives. i think this is more of just a hand-holding period. i continue to view this as $20 earnings power when we look out over the next seven to eight years which is why we are bullish on tesla on the fundamental case, even though near term, the bulls are definitely back against the wall with the bears winning this round of the battle. stuart: so lyft goes lower, tesla goes higher, dan, thanks for joining us. that's a pretty succinct case you made. we appreciate that. thank you, dan. see you later. >> thank you. stuart: maxine waters defending the prosecutor in chicago because she dropped the charges against jussie smollett. waters said she, the prosecutor, kim foxx, did the right thing.
9:56 am
we're on that one. congressman gerald nadler demanding the entire unredacted mueller report, all of it made public. that's what he wants. but that is not what he wanted when bill clinton was under investigation in the '90s. brian kilmeade has the story for us. and a second woman is accusing joe biden of inappropriate and unwelcome behavior. i say his presidential bid is on life support and that actually is bad news for the democrats. my take on that is next. your daily dashboard from fidelity. a visual snapshot of your investments. key portfolio events. all in one place. because when it's decision time... you need decision tech. only from fidelity. . . . i'm working to keep the fire going
9:57 am
for another 150 years. ♪ to inspire confidence through style. ♪ i'm working to make connections of a different kind. ♪ i'm working for beauty that begins with nature. ♪ to treat every car like i treat mine. ♪ at adp we're designing a better way to work, so you can achieve what you're working for. ♪ that's it. i'm calling kohler about their walk-in bath. [ sigh ] not gonna happen. my name is ken. how may i help you? hi, i'm calling about kohler's walk-in bath. excellent! happy to help. huh? hold one moment please. hmm. it's soft. the kohler walk-in bath features an extra-wide opening
9:58 am
and a low step-in at three inches, which is 25 to 60% lower than some leading competitors. the bath fills and drains quickly. and the door ensures a watertight seal, so you never have to worry about leaks. kohler's walk-in bath was designed with convenient handrails for added stability and safety. the wide, ergonomic seat is tilted back for comfort and stability. it has a channel so water won't pool on it. and it positions you perfectly by the controls. while the heated seat soothes your back, neck and shoulders, warming up your body before, during and after the bath. kohler is an expert in bathing, so you can count on a deep soaking experience. honey, are you seeing this? the kohler walk-in bath comes with powerful, fully adjustable hydrotherapy jets and our exclusive bubblemassage. oh yeah, that's the stuff. everything is installed in as little as a day by a kohler-certified installer. and it's made by kohler, america's leading plumbing brand.
9:59 am
we need this bath. yes. yes you do. a kohler walk-in bath provides independence with peace of mind. would you mind passing my book there. rather than worry about how to pay for long-term care. brighthouse smartcare℠ is a hybrid life insurance and long-term care product. it protects your family while providing long-term care coverage, should you need it. so you can explore all the amazing things ahead. talk to your advisor about brighthouse smartcare. brighthouse financial. build for what's ahead℠
10:00 am
stuart: before he is even launched his campaign, joe biden's presidential bid appears to be on life-support. a second woman has come forward to accuse him of inappropriate and unwelcome behavior. swift reaction. look at this op-ed in "the new york times." quote, the wrong time for joe biden. when "the times" questions his campaign, before it has begun, you know joe has a problem. but surely this is a much bigger problem for the party and its hopes of winning the white house. where is the centrist? where is the moderate? all of the 2020 front-runners have embraced radical ideas. biden is busy apologizing. he is not even in the debate. he is a socialist? would he ban private health insurance? where does he stand on the green new deal? don't know any of the above. he is scrambling to stay in a game he has even yet joined.
10:01 am
democrat candidates move further and further beyond radical economic ideas. constitutional change is on the agenda. not just the economy, the american political system they're aiming at. kill the electoral college. expand the supreme court. pack it with liberals or term limits for justice, anything to get around a conservative-leaning majority. where is the voice moved race if joe biden doesn't have a voice? is there any other moderate out there who could still run? hillary clinton? very doubtful. not entirely sure she is a moderate either. i can't think of anyone else, except, the billionaires, michael bloomberg chose not to run but that was before joe biden ran into trouble. howard schultz, starbucks founder, he is not a democrat but biden's problems may give him a boost. frankly i don't think the democrats are looking for an alternative. they're perfectly happy with a sharp left turn. biden's problem is to their
10:02 am
advantage. and it is surely to president trump's advantage too. the second hour of "varney & company" is about to begin. ♪ >> an invisible moral fabric that holds up a society, a democracy, is being shredded. there is an invisible moral fabric. there is an invisible moral fabric. there is an invisible moral fabric. this invisible moral fabric. there is an invisible moral fabric that holds up all societies. the invisible moral fabric. the moral fabric. the moral fabric of society is invisible but essential. stop this enormous erosion of the moral fabric that is at the hands of the donald trump and the republicans. stuart: moral fabric, you heard it over and over again. the president, mr. biden
10:03 am
criticizing president trump foredestroying the moral fabric of the country. would i say that is somewhat ironic. scott shellady. the cow guy group at tjm f mr. biden is out, i'm not saying he is, he certainly has got his problems that would leave a clear path for the socialists wouldn't it? >> it would and you know what? his moral fabric is so invisible it just wasn't even there, was it? i think ultimately think do not want to be to far to the center is close to donald trump. they will always go far left because they can't go on common sense things because, look at ushering with the great economy we have growing or continue to working china to heal to the rest of the word's economies to trade fairly, work on relationship for north korea. no. we're going for a fourth investigation about the mueller report. we're talking about security clearances at the white house. like the car is broken down
10:04 am
checking air in the tires to get it started again. so totally on the wrong page with these people, they can't get too close to the center, that is occupied by donald trump. stuart: real fast what do you think to the idea of the billionaires stepping in? mike bloomberg, he says he is out but biden has got his problems, he could get in. howard schultz from starbucks, he is not a democrat but guiden's troubles surely give him a shot in the arm? >> yeah i think between the two of them i would say schultz has got the stronger hand. i don't think really bloomberg wants to get involved at that level. schultz would be one that would be strengthened, however he will be seen to be hurting where he come from, right? i don't think it would be good for the democrats if he steps in. they're in a heap of trouble. we have a whole generation of people that expect something for nothing. we're reaping the rewards of the participation trophy, right? you don't taste the dirt of defeat anymore. no fire in your belly. i want what he has got. that is what the left is pandering too, everybody gets
10:05 am
something for nothing. stuart: you have fire in the bellly. stay there for a second. we'll get back to you momentarily so to speak. check the big board. 10:00 eastern, down almost 100 points. got it. look at walgreen's. they had a big miss. they're cutting their forecast for the year. they are worried that trump's crackdown on drug prices could hurt them. the stock is down 12%. that takes around 50, 55 points off the dow industrials. it is dragging on rite aid and cvs as well. both those stocks are down as of right now. president trump, he is heading to the mexico border later this week. secretary nielsen, she is cutting short her trip to europe. she comes back to d.c. to deal what is clearly a crisis. brad blakeman with us, former assistant to bush 43. brad, if that border is closed, there is enormous disruption economically. there is chaos on both sides of the border. is it worth it?
10:06 am
>> yes it is. we have crisis on the border. humanitarian crisis. we have to put the heat on mexico and others that trade through mexico. we wouldn't have a crisis but for mexico not controlling their southern border. the border will not be closed in one day. it will be ratcheted if at all if the decision is made. time to put pressure on mexico. i think the president is doing the right thing. stuart: first thing that happens if a close you are of any kind of a caught dose disappear from the grocery store -- avocados, tomatoes, produce. we get a lot of produce from mexico. the screams would be immediate from consumers is it worth it politically, is it worth it? >> yes it is. leaders have to take a chance. there isn't a lead they're has done great things to our country, for our country, that has been appreciated in his time. only after time you can take a full appreciation through history of what they have done. a leader is required to make tough decisions. i will sacrifice avocados to
10:07 am
have a safe border. about time americans in this generation will be subjected to sacrifice. only through sacrifice do you appreciate what we have. we have a crisis on the border t must be fixed. our president is addressing it. i'm full speed ahead to the president. stuart: will any blame go to the democrats? i put the blame, they have done nothing in the era of mass migration. we're faced with an invasion. i don't think the public politically will blame democrats. i don't think they will. >> i think there is enough blame to go around with sanctuary cities. when was last time pelosi was at the border. when was the last time any leader of democratic party, including those running for president, stood shoulder to shoulder with men and women trying to keep us safe? we had 4,000 people come across our border illegally. 100,000 this month we're scheduled for. we have to fix it. stuart: either chuck schumer or nancy pelosi who did actually go to the border. i'm not sure which one did
10:08 am
actually go. they didn't do anything whatsoever. >> they were not there to buck up the men and women on the front lines. they were there looking at wards of the state who we have to now take care of. a lot of people, hundreds of thousands of which are still in the state who came here illegally. talking about people with families or unaccompanied children. they are wards of the state. stuart: brad blakeman says, do it, close it down? >> mr. president, do what you need. stuart: brad blakeman. thank you, sir. appreciate it. let's get back to scott shellady. we have a bullish signal from the sec i'm sure you're aware of this, the go-aheaden cross thing. i'm going to tell what you think it is and you tell me if i got it right. when the, that is, okay, when the 50-day moving average moves above the 200-day moving average and they cross, that is a signal that the market is going sharply higher. have i got it right? >> well, maybe not sharply but yeah, that is what some of these
10:09 am
technicians will look at, stuart. the technicians look at their charts and all i got to say, when an old trader told me a long time ago, be careful about your charts because every ship at the bottom of the ocean had a chart room. tough take it with a grain of salt, right? be careful where those things go, i haven't heard that thing before, that is very good. every ship at bottom of the ocean had a chart room. >> be careful about reading too much into those things. it a guide. stuart: we're down 80 points on the dow. a lot of accounted for walgreens. are you still looking for the market to move gradually higher? >> as long as we don't have a lot of shakeups. there is a lot of cash on the sidelines. i saw with the new issues and great tech companies coming to the forefront. the economy will get better, better than in the first quarter. i don't know if we'll hit 2% this year, we'll hit 2 1/2 that
10:10 am
will be the best place to be on the globe. that is something the democrats can't talk about, right? that is donald trump, right in the center. that is why they have gone so far left because the common sense issues you and i talk about every day, are something they can't talk about because they're going so well. stuart: scott shellady, cow man, thanks for joining us. always appreciate it. >> all right. stuart: we're down 70 points. there you have it, 26,178. there you you have it. nebraska devastated by those floods. early estimates that it could cost farmers in the state $900 million. we're about to talk to the head of the nebraska farm bureau. i want to know how bad it rely is and how much help the farmers will actually get. andrew cuomo out with a new bunch, taxes on everything from mansions, online sales, rental cars and vaping products. you will get my take on that, top of the next hour. campus reform cabot phillips
10:11 am
asked college students their thoughts about socialism. they loved it. then he asked them if they would be willing to share their gpas with other students getting lower grades? that did not to over well. the second hour of "varney & company" on its way. ♪ what if numbers tell only half the story? at t. rowe price, hundreds of our experts go beyond the numbers to examine investment opportunities firsthand. like a biotech firm that engineers a patient's own cells to fight cancer. this is strategic investing. because your investments deserve the full story. t. rowe price. invest with confidence.
10:12 am
10:13 am
my lineage was the vecchios and zuccolis. through ancestry, through dna i found out that i was only 16% italian. he was 34% eastern european. so i went onto ancestry, soon learned that one of our ancestors we thought was italian was eastern european. this is my ancestor who i didn't know about. he looks a little bit like me, yes. ancestry has many paths to discovering your story. get started for free at
10:14 am
10:15 am
stuart: we're down 70 points on the day thus far. we're 26,181. now, nebraska, whoa, still trying to recover from those catastrophic floods last month. i want you to listen again to what agriculture secretary sonny perdue said on the show as the floods were hitting nebraska. roll the tape. >> they think there may be as many as a million calves lost in nebraska. that is catastrophic. we'll do everything we can to help those people get back on their feet. stuart: steve, you heard that, a million calves may have been lost in the floods. spell it it for us. how bad is it? >> it is bad. we have never seen a storm like this in nebraska's history. we had flooding at record levels practically every stream in the
10:16 am
state. at this point we don't have exact figures on the number of loss, but we're looking at livestock losses in the 400 plus million dollar area. the crop losses in the 400 to 500 million-dollar area. then infrastructure losses, roads, bridges, those kind of things, of another 4 to $500 million. all told this is a huge storm f those estimates are correct, based on what i've seen, i could see that number continuing to grow. stuart: has the administration done the right thing by you, given you what you need? >> well, they have. we had a very early disaster declaration from the trump administration. there is still work that has to be done by fema to make investments in the counties that have been declared by our governor as disaster counties yet are not included in the fema, or the president's declaration and so that
10:17 am
continues to happen. stuart: wow. >> there are a lot more counties need to be added to the list. stuart: steve, before you go, i just want to ask you this, if president trump did close the u.s.-mexico border would that have any impact on farmers in nebraska? >> well, it would. of course it depends how long the border would be closed, and if all of the border locations were closed at one time, that, nebraska because of its location, one of the early exporters to mexico and, so, it could have a significant effect. certainly we understand the issues related to the border but, the importance of keeping trade going, passing the usmca are very important things to nebraska producers, really producers all across the united states. stuart: steve nelson, thanks very much for the update. we appreciate it, sir. we feel for you there in nebraska. we really do. >> thanks for having me on. stuart: sure thing. staying on the border, experts,
10:18 am
experts here, experts there are warning there could be a major avocado shortage. ashley: i'm your avocado expert. there are problems for consumers. 40% of all imported fruit in the united states comes from mexico. so if you block the border and you block imports that will have a big impact. they could run out of avocados they estimate in three weeks if the closure goes ahead. they grow them in california. there is riping thing. won't be ripe for next couple months. mexico is supplying virtually 100% of avocados in the united states. cue bumkers, berry, a whole host of thing. stuart: 40 to 50% of the fresh produce, sold in america comes from mexico. ashley: yes. huge amount. if they shut the border, stop those trucks coming through it, will have -- stuart: if it was a full closure.
10:19 am
susan: $1.7 billion in total daily goods come in and out of the goods. stuart: daily. susan: not just produce. what about auto parts. in less than a week they would have to shut down production lines. fashion industry, cotton, zippers. stuart: that is pressure, serious big-time pressure. thanks, everybody. conservative backlash at google. some employees, it's a backlash against conservatives. some employees there not happy that the president of the heritage foundation has been appointed to their artificial intelligence ethics board. we have details on that one coming up for you. stay with us. ♪ the biggest week in television is almost here.
10:20 am
10:21 am
xfinity watchathon week.
10:22 am
starting april 8th, enjoy free access to the best shows and movies from hbo, showtime, epix and more. what! whether it's more jaw droppers, standing o's upon standing o's or tv's biggest show stoppers. get more into what you're into. get ready to watch with xfinity x1 or the xfinity stream app. xfinity watchathon week. free starting april 8th. boop!
10:23 am
♪ ♪ start me up stuart: it was a good song. exciting. why are we playing the rolling stones? because there is a health scare for mick jagger, forced the stones to cancel some dates. what are the health problems? ashley: 75-year-old mick jagger has a leaking heart valve. they will also insert a stent to prop open one of his arteries. doctors describe that is fairly routine. they say he is expected to make a complete recovery, get back on stage as soon as possible. you're right, they had to postpone the start of the tour which was supposed to begin april 20th in miami. it is the no filter tour. what is remarkable, in his mid 70s, he is prancing around the stage and cranking out music. stuart: what is even more remarkable that keith richards is on the stage. susan: what is more remarkable that mick jagger is older than
10:24 am
you. i didn't know that, wow. 75. stuart: careful, susan. careful, you're on dangerous ground. this is your story. some google employees are not happy that the heritage foundation president is on the company's artificial intelligence ethics board. i guess because heritage is conservative and google don't like conservatives. susan: goes with the anti-conservative bias some would say very prevalent in silicon valley. stuart: that's right. susan: google announced the conservative advisory board for the a.i. project last week. people say this is transparent way for google to operate and possibly govern how ai is used. we had project maven. they scrapped the project with the pentagon because their employees basically said you're helping people, helping the government kill people. basically we have president of the conservative heritage foundation, part of this new board. 81 of googlers, basically going against this decision, open petition and they're basically
10:25 am
saying that if you having the heritage foundation on you're catering to the conservatives at expense of real expertise in the field. one a.i. expert apparently dropped out because they say it is not the right forum for him now. stuart: that is pathetic. utterly pathetic. before we close it. i have got a question for you, does mick jagger look older than me? ashley: careful, careful. susan: that's tough. ashley: you look great. stuart: you don't have an answer here. susan: i have not seen you in leather pants yet. ashley: thank god. stuart: you never will. susan: that was a great answer. >> it was. disturbing. stuart: we'll go to a commercial break. when we come out of the break you will hear the beatles, thank heavens. they are older than me. we'll be back after this.
10:26 am
can we talk? we used to play so beautifully together. now we can barely play anything... even cards with the girls. if you have bent fingers, and can't lay your hand flat, talk to your doctor. it may be dupuytren's contracture. your hand is talking. isn't it time you listened? there are nonsurgical options. take the first step. and learn more about dupuytren's. at
10:27 am
10:28 am
10:29 am
♪ stuart: it's a wonderful song. it is not terribly exciting. but did you know the paul mccartney wrote this when he was in his teens? 17, something like that. a lovely melody. of lovely song. keeping with the british, you don't like it. susan: my repertoire on beatles music is limited. i'm enjoying it and learning every day. stuart: moving on. we'll keep in touch with the british invasion theme because the long arm of america's irs might reach across the pond and go after prince harry and meghan markle's child. what is going on? ashley: believe it or not, indulge me, the child of a u.s. citizen, non-citizen, i.e., meghan and harry, are considered
10:30 am
the a u.s. citizen, if the parent, was physically present in the country five years before the birth, including two years under the age of 14. all of those apply to meghan markle. in other words, once the child reaches adulthood, the income will be exposed to the u.s. tax system. there is a way around this but it is complicated. meghan markle could renounce the u.s. citizenship. that takes years. she could apply to become a british citizen. that also could take years. watch out for the taxman even though you're in the old buckingham palace or thereabouts. the only thing may bail them out, offset tax paid in great britain, would offset those paid in the united states. that shows you the u.s., long arm of the irs one of the few countries in the world where they continue to hunt you down. susan: how much does a baby make? stuart: a royal baby? a ton. susan: part of trust or royal
10:31 am
family's income or individual. ashley: royal family is very secretive about its income. stuart: campus retomorrow's cabot phillips asked students which they preferred, socialism or capitalism. listen to this. >> which would you rather have in america, socialism or capitalism? >> i would say socialism. >> how do you view the word socialism, favorably or unfavorably. >> i guess i would say favorably. >> i have family in europe. health care is free. they don't have to pay for it. stuart: lucky you, youngster. listen to the reaction if they were willing to share their gpa? roll tape. >> so on campus, if there is d disparity, people at bottom with poor gpa, would you support a policy where people at the top spread the wealth, give the gpa to the bottom? helping. >> profiting off my work for you? who is really the bad guy here? >> i don't think that would be a good idea. you're taking away from people that earned the grade, what
10:32 am
about ones not working hard for the grades, they get something that they didn't deserve. stuart: what about people that worked hard for their money we may ask? that man is cabot phillips, what is the sum total of your interviews there? >> we spoke to 20 people throughout the afternoon, person after person. very quickly went from a little carl max to a little adam smith once they realized how socialism would impact them. i think they realize, they have this idea, talking to them in class. there is social pressure to go along with it. they think it is compassionate to take from the top give to the bottom. it makes sense. compassionate. free college, free health care, that makes sense. they don't realize though eventually they will be the ones footing the bill. there is nothing compassionate about taking from people that work very hard giving to other people just in the name of equality. hopefully this helped them have a light bulb moment there. stuart: stream on, son -- dream on son, but that is another story. if joe biden is out on running
10:33 am
for 2020, at this moment he is not, but he is under severe pressure, would that clear the field for all of the other candidates who basically socialists? in other words, clear the field for the left? >> hard to see at this point. i do think, videos coming out for a while, as more people see them, this is the instagram election, people voting not necessarily what they read but what they see on pictures. people, young ones especially swayed by that. i do think it will hurt joe biden. i don't know if he drops out if it helps socialist candidates. i think a lot of supporters are more establishment wing, might go for beto, down the line establishment vote. i don't know if they're necessarily going to swing back from a moderate candidate like joe biden to bernie sanders supporter. if biden gets in, his best day is then because it will be uphill battle. stuart: what do you think of moving voting age down to 16?
10:34 am
>> it is ridiculous. democrats this is not about equality. this is winning election. they know young people are getting biased education and going to the left. 16, you're not paying taxes, not making health care decisions, not taking out loans. because if you vote we collectively have a skin in the game. 16-year-olds just don't. i support 16-year-olds getting involved in local elections, but vote something not the best thing. democrats say this about equality and opening up new doors to get into politics. they know this is a power grab. stuart: keep the video takes coming, cabot. give my best to your dad who is still wrong on tariffs. >> thank you. stuart: avengers endgame, they're having issues buying tickets. what is that? susan: basically if you're trying to buy tickets on fandango and other websites you will have a hard time buying early tickets for the avengers next movie.
10:35 am
supposedly happening right now, according to plans, tickets are on presale they are struggling to buy tickets, fans are around the world. we're not sure what is going on right now but, hopefully they will be prepared and stay in line. but fandango, amc have been giving people problems trying to buy tickets apparently according to reports, specifically for amc. the app is apparently crashing or refusing to load. stuart: interesting but, hardly a big deal for someone like me. susan: step further talk about disney which owns the big marvel series, how much they paid up for that. stuart: thank you, susan. check the big board, down 70 as we speak, it has been flat, slightly lower much of the day. better check out lyft by the way. they are at $68 a year. they went out publicly, 72 on friday. general motors reported sales, down is% in the first quarter
10:36 am
compared to last year. so year on year down 7%. gm reporting sales quarterly, instead of monthly now. the stock is at $37 per share. all right, we're joined now on the radio by brian kilmeade. the host of the "brian kilmeade show" on the radio. brian, democrat congresswoman maxine waters says prosecutors did the right thing dropping charges against jussie smollett. what is your take on that? >> maxine waters is ahead of the curve. so far ahead of the curve she is not even on the road. even chris rock doesn't agree that jussie smollett was innocent, that he has done the right thing. i think in the long term they hurt him more than he hurt himself because when you saw protests happening on the steps of the capital yesterday in chicago, you see how angered the cops are in chicago around the country. many in the black community also upset, see right through his story that have legitimate complaints about the way they're treated by law enforcement, the
10:37 am
criminal justice system. i just think that maxine waters again, will not pay a penalty because she is in a district votes for a knee-jerk anyway. stuart: i think you missed the point. i think what jussie smollett did was try to associate president trump with racial and homophobic violence. when he was found out, the democrat elites sprang to his assistance and got him off because he is basically a trump-hater. that is what happened, brian. >> possibly. then, whole thing about truth came out. i don't think you could say that jussie is unjustly being attacked at the same time, what about the nigerian brothers, either they're guilty or or he is guilty. they both can't be telling the truth. stuart: talk about jerrold nadler, leading charge making mueller report fully public, listen what he said about the
10:38 am
starr report on clintons, back in 1998. roll tape. >> it is grand jury material. it represents statements which may or may not be true by various witnesses, salacious -- all kind of material, it would be unfair to release. stuart: okay. he is saying something different now, isn't he, brian? >> he is. talking to charlie rose back in 1998 in september. here is the thing, if you ever doubted, you said to yourself, i don't know if jerry nadler is sincere, remove all doubt. there is not a cell in his body agrees this thing should be let out unredacted. that means grand jury testimony, spice will be exposed, way we gather intelligence will be out there. number four, he is knows the legal system. he is not somebody going on instinct. i don't understand this, if the attorney general said we're not going to let this out, if the attorney general said i'm not going to come to congress, i will not testify, then i could understand their frustration but
10:39 am
he said i will be there in the middle of april. maybe even next week. i will testify may 1st and may 2nd. they want it do. they will file a subpoena tomorrow. can you tell me what the rush is? we waited two years for this, 22 months for this anyway. you don't think you could wait a couple weeks to get your questions together, maybe read through it, then ask william barr. stuart: i guess not. hold on a second. you interviewed howard schultz today i believe. what do you make of it? >> number one, i wish he would run on democratic side because he is capitalist, self-made success story. he is someone that didn't ask for any excuses. he grew up in the public school system. went to the bronx. he twice was letting up starbucks, let's get back to the country the athlete in his background a family person. i think he bring as rot to the table. i was encouraged the way he said green deal is a farce. "medicare for all" is impossible. i have no problem with him taking on the deficit, he will be on tomorrow, will be interesting. i find it hard to believe, found
10:40 am
it a little disconcerting said our viewers are all republicans or we love president trump when, if he watches the channel, he can see when president trump does things that are something we disagree with, you say it, i say it. you see it at 3:00, see it at 2:00, see it at 7:00, see it at 12. you see it over and over again. that, trying to categorize our viewers and our anchors i have a problem with. i love that he came on. i love his story, i just think he will have an impossible run in the middle. i look forward to on thursday sitting with bret and martha. because he is a democrat. he also understands that america gives you opportunity. stuart: if biden is out, where is the moderate, step in howard schultz? might just be. we're out of time. you have to get back to your radio listeners. i have to get back to tv. brian, thanks for joining us. always appreciate it. >> see you in the halls, stuart, if you decide to say hello to me.
10:41 am
stuart: elevator bank. michael corleone house from "the godfather." surprisingly affordable. i can't stand this, prince charles and camilla, making official royal trip to cuba. what the devil were they thinking? we'll deal with that after this. ♪
10:42 am
10:43 am
♪ ashley: wedbush securities analyst dan ives says lyft will need to prove its viability to succeed on the stock market. roll tape. >> they will be losing a billion dollars next year and it cops down to the profitability. that's the issue why the stock has a overhang because we really don't see it. outside of autonomous vehicles, that is only way we could see them making a profit. which is what i view as mini debacle coming out as an ipo and it is a uphill battle for lyft. i think investors are feeling a little bit of a white-knuckle period. ♪ fact is, there are over ninety-six hundred roads
10:44 am
named 'park' in the u.s. it's america's most popular street name. but no matter what park you live on, one of 10,000 local allstate agents knows yours. now that you know the truth, are you in good hands?
10:45 am
stuart: president tweeting about the border just now, here it is. after many years, in brackets, decades, mexico is apprehending large numbers people at their southern border, mostly from guatemala, honduras, el salvador. they have been all taking u.s. money for years and doing absolutely nothing for us, just like the democrats in congress.
10:46 am
okay, that is what he has to say. i'm prepared to believe, that the threat of closing the border is a negative for our stock market. we are down 90 points on the dow. it would be a serious negative consequences for our economy if that border were closed, and the president is going down there on friday. now the trump administration is condemning russia and cuba's involvement in venezuela. this as the country begins to ration electricity. virtually collapsed. mark simnfsky, atlantic council eurasia center. mark, looks like we're moving closer and closer to a military standoff in venezuela. is that accurate? >> no, i don't think we're edging toward a military standoff. i think we're edging towards increased tension between the united states and russia in venezuela. russians introduced 100 personnel on two planes, one commercial, one military, with 35 tons of equipment. they're trying to send a signal
10:47 am
to the trump administration they will not stand idly while the u.s. puts pressure on maduro regime to try to remove the regime. this complicates the situation that russian military officers are on the ground, particularly at the s-300 sites in venezuela if the u.s. took a decision military. i don't think the u.s. is looking for military confrontation in the venezuela but it raises the stakes that the russians are doubling down on their investment. stuart: i have to bring this to your attention, i'm sure you saw this, prince charles, heir to the british throne, his wife camilla, they made an official visit to cuba. i could hardly believe this. if that is not a poke in the eye to the trump administration i don't know what is. what do you make of it? >> obviously this visit is coordinated with the british foreign commonwealth office. they approve these trips. this is part of a larger trip to the caribbean. it's a bit unseemly for them to be visiting cuba at a time when cuba is backing maduro with intelligence, financial, political support.
10:48 am
i think it is probably not the right time, considering the facts that the cubans have been so difficult to oppose u.s. interests but also i think the british government is sending a signal that britain has its own interests to the region. thousands of british citizens travel to cuba. the policy for cuba has not changed for cuba, despite the trump administration interest in strengthening sanctions against cuba. this is the implicit signal. stuart: i would call it a disgrace. how i cake eyes it. how would you? >> i don't think it's a disgrace but doesn't ally with the u.s. government on -- stuart: are you diplomat? yes you are. thanks for joining us. appreciate it. coming up ford out with a brand new model of its escape suv. did you know that this ford's second best-selling vehicle behind the f-150? i will get gary gastelu to sell me one after this.
10:49 am
♪ 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. so they'll be okay? i think they'll be fine. voya. helping you to and through retirement. you wouldn't accept an incomplete job from any one else. why accept it from your allergy pills? flonase sensimist relieves all your worst symptoms, including nasal congestion, which most pills don't. and all from a gentle mist you can barely feel. flonase sensimist.
10:50 am
there's also a lot to know. part a that's your hospital coverage, part b is all the doctor stuff... the most important thing to know? medicare doesn't pay for everything. and guess what that means...
10:51 am're on the hook for the rest. that's why it's important to consider an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. a plan like this helps pay for some of what medicare doesn't. so you could end up paying less out of your own pocket. that's nice. and these are the only medicare supplement plans endorsed by aarp. selected for meeting their high standards of quality and service. it feels good to have someone looking out for you. want to find out more? call unitedhealthcare insurance company now to request this free decision guide, with aarp medicare supplement plan options to fit your needs. and learn how this type of plan works together with a part d prescription drug plan. here's something else good to know. with a medicare supplement plan, you have freedom. freedom to go with any doctor or hospital that accepts medicare patients. you're not restricted to a network. ever. and if you need to visit a specialist, you'll have a choice there, too.
10:52 am
your coverage goes with you, too, anywhere you travel in the country. we have grandkids out of state. they love our long visits. not sure about their parents, though. call unitedhealthcare now to learn more and ask for your free decision guide. want to apply? go ahead, apply. anytime's a good time. remember, the #1 important thing, medicare doesn't pay for everything. a med supp plan could help pay some of what's left. and this is the only plan of its kind endorsed by aarp. that's the icing on the cake... i love cake. finding the right aarp medicare supplement plan for you could be just a quick call away. stuart: might be a slight negative on the market this morning, a possible closure of our southern border. if it happened, there will be
10:53 am
serious economic consequences, maybe the market reflects that today. then there is this, ford's new 2020 escape completely redesigned. gary gastelu is with us, he is actually standing outside. he has got one. are you trying to sell me this thing? >> this is completely new vehicle. we'll get a first look at it live here on "varney & company." this will be going on sale this fall. very important car in ford's lineup. this competes against the honda crv and toyota rav4. this roomier than the current version. it will have three cylinder, four-cylinder, a hybrid an plug-in hybrid, 30 miles of all electric driving. some skipping plug-in hybrid, going straight to electrics. ford thinks it cast can do both. digital instrument cluster and self-parking system, pull into the space without your hands on the wheel or feet on the pedals.
10:54 am
ford is exciting about this. sells 300,000 escapes every year in the united states. some people don't think it will sell too many more of this, because not only suv it has coming along. smaller off-road the version of the bronco, the baby bronco based on this. will go on sale next year. more of a rugged look. this is more of the family car. very important, getting sedans and hatchbacks out of its lineup. stuart: okay, how much? >> prices have not been revealed yet. they are coming in the fall. current version starts at 25,000. i don't expect this will be much more than that. stuart: six cylinder or four? >> three cylinder for the base model with 180. four cylinder as well. plug-in hybrid, and hybrid are electric motors. stuart: this has 150-mile range, one take of gas? >> combine gas and talk economy,
10:55 am
electric range, up to 550 miles. 30 on all electric mode, which a lot of people covers the daily drive. stuart, one to 10, 10 being fantastic what would you give it? >> current one, absolutely a 10. addresses issues, mostly the size. has great style. i think this will be pretty competitive against big players in the segment like toyota rav4 and honda c are. v. stuart: thank you very much, mr. gastelu. what have we got? susan's story? we don't have time for that. down 74 points on the dow jones industrial average right there. we're at 26,183. how about this one? new york's verrazano narrows bridge, holds the title as most expensive toll in the country. ashley: great. stuart: we'll tell you how much it will cost to cross it in a moment. ashley: a lot. stuart: speaking of new york, governor andrew cuomo going on an all-out tax blitz with his
10:56 am
new budget. shows you democrats need to tax anyone and everything because they really need the money. my take on that next. ♪ ... i knew about the tremors.
10:57 am
but when i started seeing things, i didn't know what was happening... so i kept it in. he started believing things that weren't true. i knew something was wrong... but i didn't say a word. during the course of their disease around 50% of people with parkinson's may experience hallucinations or delusions. but now, doctors are prescribing nuplazid. the only fda approved medicine... proven to significantly reduce hallucinations and delusions related to parkinson's. don't take nuplazid if you are allergic to its ingredients.
10:58 am
nuplazid can increase the risk of death in elderly people with dementia-related psychosis and is not for treating symptoms unrelated to parkinson's disease. nuplazid can cause changes in heart rhythm and should not be taken if you have certain abnormal heart rhythms or take other drugs that are known to cause changes in heart rhythm. tell your doctor about any changes in medicines you're taking. the most common side effects are swelling of the arms and legs and confusion. we spoke up and it made all the difference. ask your parkinson's specialist about nuplazid.
10:59 am
(indistthat was awful.tering) why are you so good at this? had a coach in high school. really helped me up my game. i had a coach. math. ooh. so, why don't traders have coaches? who says they don't? coach mcadoo! you know, at td ameritrade, we offer free access to coaches and a full education curriculum- just to help you improve your skills. boom! mad skills. education to take your trading to the next level. only with td ameritrade.
11:00 am
stuart: i looked at the new york state budget, and i couldn't help but think about the beatles , and the beetle's song, "tax man" written 50 years ago by george harrison in britain. it rings true in parts of america today. remember the line, if you drive a car, i'll tax the street. if you take a walk, i'll tax your feet. remember that one? well new york has a plan to tax cars that drive into midtown manhattan. that's new and there's an extra tax on rental cars too. they haven't quite figured out how to tax a walk down the street but since they're taxing anything and everything they are work on it. for example, there is a 20% tax on vaping products, 20%, and all you're trying to do is quit smoking? live in a nice house and you want to sell? and perhaps you'll escape to no tax florida, there is a tax which the seller pays on all
11:01 am
properties valued at more than $2 million and it doesn't matter that new york real estate has just had its worst quarter in 10 years, oh, and there's a new online sales tax that will soak up hundreds of millions of new york taxpayer's dollars, you get the point. high tax states run by democrats for years need more money, often to pay the pensions of retired government workers. nothing is off limits. back to the beatles. now, my advice for those who die , declare the pennys on your eye, because i'm the tax man, yeah, i'm the tax man. and you're working for no one, but me. so the third hour of varney & company about to begin. >> ♪ because i'm the tax man, yeah, i'm the tax man ♪ stuart: oh, it was a great song!
11:02 am
[laughter] and i used to know it verbatim and i've kind of forgotten but george harrison with the song i'm fired up let's get right on it come on in, our tax guy of the day, all right, peter do you agree that there's desperation here especially in these high tax states which desperately need money don't tax anything, right? >> well absolutely, i mean people are fleeing in droves from california and new york because of high taxes and the fact that they can't deduct them on their federal returns so what are they doing? raising even more taxes and behind the power groups and it reminds me of apple. apple has raised the price on phones so much that their revenues are down not just their unit sales but their revenues are down on phones and they've gone beyond the elasticity of demand and with regard to taxation. this is self-defeating and it will actually yield fewer taxes in the long run. stuart: i should point out that new york real estate i'm talking about the whole state. >> yes. stuart: new york real estate in
11:03 am
the last quarter, first three months of this year was its worst quarter in 10 years and they've had six quarters where the real estate business has really gone down the tubes so to speak. i mean, what's that going to do to new york real estate in the future? >> well essentially businesses and folks that own real estate are going to pay the congestion tax. they'll put it on people who come in but because they come in they'll be able to pay less for real estate and be less inclined to do business in new york and so forth, so prices will have to be cut and in the end, people will leave. you see the folks that live in the financial district and make contributions to democrats, you know, they make such huge amounts of money that they can deal with this but there are still a lot of ordinary folks in the fashion industry and so forth and in the arts and what not in new york, that simply can't afford this and gradually new york will deplate because of this. stuart: but you can't leave it at that. okay i understand that people are leaving but what happens to the financial condition of new
11:04 am
york state with all these people leaving, and declining tax revenue. what is it? >> well we've been through several cycles of this in new york, several financial crisis and at one point new york nearly went bankrupt but got bailed out by the federal government. my feeling is if new york hits it again the federal government may well push it off because the federal government itself can't afford this. the reality is is that new york needs a clean sweep, a wholesale reform including its unions, its pensions, and all the rest, and it's going to take an absolute crisis, desperation, to bring that about. there's nothing that drives change like the lack of money. right now they can get more of it by taxing but some of this is down right look at this mayor. he's telling people they have to ride the subway. he's going to takeaway their uber. he wants to take away their cars but look at the subway and look at it during rush hour or even at 11:00 at night if you're returning from the theatre.
11:05 am
it's unusable at this point. i think the mayor, to show his goodwill, should go live where i did as a small child, in ozone park, new york, where there's the el there. i grew up under the el, it would be good for him to put up with the noise too. he should have to ride the el into new york city every day and let's see if he thinks that the congestion tax is all that great an idea or taking away people's ubers. you know, i would love to see him down there with his four bodyguards trying to find space for the five of them inside one of those trains. stuart: we're out of time, peter but i notice that you reverted to a slight new york accent when you were ranting there. >> i was born on long island city in general hospital. stuart: okay we got the point peter i understand you don't like the tax or new york state. welfare enough. neither do we. >> you don't like it either listen to your monologue. stuart: you got it right. thank you, peter good stuff.
11:06 am
just you got to check the big board because now we're down 100 points. we are reporting that president trump is standing firm on his threat to close the border, and i believe that that is a negative for the stock market this morning, if you do that you've got a problem. most of the losses on the dow though, at this moment, are from walgreens, weak first quarter down goes the stock it is a dow stock, so that accounts for, i believe roughly 55 points down on the dow industrials. let's check lyft. still trading below the ipo price there was an 11% drop yesterday, lyft is losing a ton of money, none of the people on our programmed to are buying it at least not today the stock is at 67 right now. if you look at a two-day chart, you don't see much. went off well on friday, that was day one has come down since then, better take a look at amazon, big news for whole foods their division. they just announced they're
11:07 am
starting tomorrow they will be lowering prices not just for amazon prime customers, all across-the-board, down 20% on 500 items and they are trying to compete with other lower cost grocers, amazon though holding just above $1,800 a share. slack now that's the workplace messaging app, their ipo could come as soon as june, maybe july and their listing on the new york stock exchange, and investors may be a little weary of it given the lackluster first , two, three-day performance. happening at the white house later on, president trump will meet with nato secretary general and that marks the alliance of the 70th anniversary and the president's relationship with nato has been somewhat rocky and all right getting back to joe biden, a second accuser has come forward so if he's out of the running for 2020 if he is, does that clear the field for the socialistic candidates? i say yes it does and of course
11:08 am
it might make it easier for president trump as well. we're going to talk to the trump 2020 campaign about that and speaking of socialism, alexandria ocasio-cortez calling out laguardia airport in new york city for selling croissants at $7 a piece and she was using it to make her case for a $15 an hour minimum wage. we're going to explain to her why that wasn't the best argument to make, we'll be back with that. and 750 agents being reassigned to the border maybe up to 2,000 eventually. the president is considering appointing a border czar and he plans to visit on friday. not backing off from his repeated threat to close our southern border, unless mexico takes serious action to stop those caravans. the president gets the support he needs, does he? we're asking that question, stay with us, the third hour of varney. >> ♪ ♪
11:09 am
11:10 am
11:11 am
11:12 am
stuart: yes, this program is all about dollars, so listen to this america's wealthiest households, that's the people the top 1%, they have more cash on hand than ever before. a total of record total of $304 billion, that sounds like an enormous amount of money to
11:13 am
me but that's calendar to the federal reserve and it's up from just 15 billion before the 2007 recession my goodness, me. politics, and a second woman has accused joe biden of inappropriate touching, she's a former campaign aid for a connecticut congressman. she says biden inappropriately grabbed her while at a campaign fundraiser in 2009. now what does that mean for president trump? suppose biden is out, and now just suppose we don't know that at this point, he's not in but he might be kept out. would that clear the way for far left democrats, wouldn't that be to the advantage of president trump? kayleigh mcenany is with us, trump 2020 national press secretary. it clears the way for president trump because he'd love to run against a socialistic wouldn't he? >> i think he would take delight in running against anyone in this democratic field but you're right to say that there's a real chance he's running against a socialistic and by the way i would not exclude biden from that label because even joe biden said hey,
11:14 am
i'm the most progressive candidate in the race. well what does that mean stuart? it means he's more progressive than the socialistic bernie sanders. stuart: wait a minute wait a minute he was just setting himself up for the primaries because he would face a far left challenge so he has to say i'm with you guys. he has to. >> sure he has to say that and do you know what? no matter who emerges be it biden or warren or sanders they will all be attached with the socialism because they have to. their base demands it, the democratic party demands it so biden will notice cape that label. stuart: looks to me like mr. biden's competitors are gang ing up on him to get him out because why shouldn't they get out the front runner i think that's what they're doing. >> all of this opposition research coming out likely from his democratic competitors who want to crowd him out of the field before it begins and this is a good indicator of what this democratic debate stage will be like, it's going to be brutal,
11:15 am
vicious and cut-throat and we'll see the deputies turn against one another as we're sitting on the sidelines watching and exposing their divisions. stuart: i think the debates start in june if i'm not mistaking? >> that's exactly right june is when it all begins but you'd think it already started. stuart: kayleigh as a woman do you find biden's behavior inappropriate? we've seen lots of these reports and the pictures et cetera. do you find that behavior inappropriate? >> you know, i would echo kellyanne conway. i think she said it better than i could. he calls it hugging but his party calls it a real problem and calls it inappropriate. i'll leave it to the voters to decide on joe biden, but he sure did sniff a lot of hair, as tucker carlson said last night. stuart: he's got, i mean, he's talking about his aids are saying well maybe he will declare for the presidency at the end of april, beginning of next month. if that's the case, then he's got a month where all he's going to be doing is walking back,
11:16 am
previous comments, previous policy ideas, and answering all of these questions. i think he's out, and maybe that's being extreme but you know i think the mans out. >> you hit on one sliver of this which is that inappropriate contact with people but there's other portions too he's got to answer past statements he said about race that are holy inappropriate. he has to answer these new allegations about his son's ties to ukraine and some actions, official political actions he took for ukraine, or with ukraine, that might have touched on some of the lobbying work his son was doing or some of the work he did for a natural gas company with a lot of questions all of them will be asked in the coming months. stuart: you're having fun aren't you? >> yes, because i have no doubt that president trump is going to be victorious in 2020 so we're just delighted to see who emerges from this democratic primary. stuart: kayleigh thanks for joining us see you again soon thank you. >> thank you stuart. stuart: quick, stock check first off microsoft are going to
11:17 am
donate 500 patents to start-ups and trying to prevent against patent trolls or the companies that scoop up patents to profit off licensing instead of innovating on their own, and microsoft may also be trying to enhance its cloud business by these patent giveaways all in the stock, down to $118 a share as we speak. how about mcdonald's they've just bought a near 10% stake in plexure, that's a mobile platform, they already use for customer interaction, bottom line is order food on your phone got it? they're extending their system of ordering food and their reward system apparently. the stock is doing nothing. hard to understand that one. our big board down 109 points i have to believe that the president's threat to close the southern border is a negative for the market today. now this one. rapper 50-cent tried to sell his connecticut home for 12 years so he did finally sell it but at a
11:18 am
big loss we'll tell you what it finally went for. >> could be. stuart: maybe 50-cent didn't know this homes listed in the first week of april receive more views and sell faster than any other time of the year. we're going to give you the numbers, but first check this one, this house from the god father is up for sale, we're going to tell you how much that ones going for. it might be an offer you can't refuse. >> [laughter] stuart: why not. >> oh, very good. >> ♪ ♪ i'm working to keep the fire going for another 150 years. ♪ to inspire confidence through style. ♪
11:19 am
i'm working to make connections of a different kind. ♪ i'm working for beauty that begins with nature. ♪ to treat every car like i treat mine. ♪ at adp we're designing a better way to work, so you can achieve what you're working for. ♪
11:20 am
11:21 am
want more from your entejust say teach me more. into your xfinity voice remote to discover all sorts of tips and tricks in x1. can i find my wifi password? just ask. [ ding ] show me my wifi password. hey now! [ ding ] you can even troubleshoot, learn new voice commands and much more. clean my daughter's room. [ ding ] oh, it won't do that. welp, someone should. just say "teach me more" into your voice remote and see how you can have an even better x1 experience. simple. easy. awesome.
11:22 am
stuart: [laughter] okay, the music, fans of the god diagnoses father, you can final ly have a piece of the movie, literally the house that michael coreleon lived in is up for sale, price tag is 1.3 million and that is a far cry from what the original owner s paid 19 5,000 back in 1977 got it. big real estate sale, this time
11:23 am
it's 50-cent, the connecticut mega-mansion on your screen now that sold for 2.9 million and had been on the market for 12 years, multiple game rooms and indoor pool, recording studio, you name it, its got it. originally, he bought the property in 2003 for 4.1 million the man's lost his shirt on that one. this week, may be the best week for potential home sellers, homes listed in the first week of april receive 14% more views they sell six days faster, compared to any other time of the year, that's according to, and sellers could also see a maybe a 6% higher price during this timeframe. we've been focusing a lot on the negatives in the airline industry let me point out which airlines are best for you to fly on in north america according to trip advisor, southwest is number one. that's in north america. it is southwest is number six in
11:24 am
the world, okay? now what's the best in the world well it's singapore airlines once again, claiming the top spot, and fliers cited exemplary service, comfort and top of the line food. >> it's terrific. stuart: airports, alexandria ocasio-cortez complaining about the price of croissant at new york's laguardia using it as an argument for raising the minimum wage, $7 croissant. what does she think she'll be paying at laguardia when the minimum wage there goes to $19 an hour as it will? we'll be back.
11:25 am
if you're turning 65, you may be learning about medicare and supplemental insurance. medicare is great, but it doesn't cover everything ...only about 80% of your part b medicare costs. a medicare supplement insurance plan may help cover some of the rest. learn how an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company might be the right choice for you. a free decision guide is a great place to start. call today to request yours. so what makes an aarp medicare supplement plan unique? these are the only medicare supplement plans endorsed by aarp because they meet aarp's high standards of quality and service. you're also getting the great features that any medicare supplement plan provides. you may choose any doctor that accepts medicare patients. you can even visit a specialist.
11:26 am
with this type of plan there are no networks or referrals needed. also, a medicare supplement plan... ...goes with you when you travel anywhere in the u.s. call today for a free guide.
11:27 am
11:28 am
stuart: we're down 97 points on the dow industrial and almost all of the dow 30 stocks are on the downside as of right now. now this, as we told you, alexandria ocasio-cortez is annoyed at having to pay $7 for a croissant at laguardia airport here is the tweet. i'll give it to you. no we don't, i don't have it never mind. she's saying look, why do i have to pay $7 for a croissant at
11:29 am
laguardia, why can't you pay $15 an hour, minimum wage? all right, fair question. i'll bring in justin haskins executive director editor of the heartland institute. what does the price of a croissant have to do with the $ 15 an hour minimum wage i don't see the point. >> [laughter] well the point is i guess to show that if a croissant can cost $7 and i guess we should be able to pay people $15 an hour, and that that somehow is going to be a better living wage for those people. it's totally ridiculous. the reality is this. alexandria ocasio-cortez, bernie sanders and other democratic socialists, they have no idea how markets work or they know how they work and they just don't care. the truth ises is that capital ism is just all about freedom that's all it's about, right? i have property rights, you have property rights and we can freely exchange property between us and money is just a medium
11:30 am
for doing that. if you're against capitalism then you're just against freedom and that's really what alexandria ocasio-cortez wants is to get rid of freedom in the economy so that she and people like her can decide what croissants cost, what labor is worth it. and how does she know that? stuart: she plants legislative wages so you can say you have to pay this, this and this. now i want to get your opinion on what bernie sanders said in an npr interview. i'm going to quote. what i mean by democratic socialism is that i want a vibrant democracy. seems to me that those two may be opposite ideas. what say you? >> yeah, absolutely. bernie sanders is trying to reposition what socialism means, because he knows that according to a fox news poll in february, only 25% of americans have a favorable view of socialism, old epeople the people most likely to said they don't have a favorable view of socialism so
11:31 am
he's trying to redefine socialism to mean a $15 minimum wage and single payer health care but that's not what bernie sanders really wants. those things are bad ideas in and of themselves but that's not bernie sanders is after. he's after completely fundamentally transforming the economy so it's more like the soviet union of the 1970s and closer to venezuela. not what we have in the united states. stuart: now that's going too far he's not a communist, for heaven sake, he's a democratic socialistic and europe is his model. you could say that sweden, denmark, norway, they are essentially socialistic countries and they have prosperity on the vast majority of their people. you could say that is democratic socialism and it works. >> yeah, that's the argument that bernie sanders makes all the time but it's actually not true. if you look at the analysis that have been done by the heritage foundation, they show that in sweden, denmark, norway, iceland , et cetera, their economies are actually freer
11:32 am
than ours in many areas and other areas they're not as free and the people are not really better off there. the point is that they have market-based capital it's ic economies, some aspects of their economies that are socialized that don't work particularly well like single payer healthcare we're seeing that in finland, for instance where the system is just collapsing but these are not socialistic eutopias. they have a broad based tax system and they tax even the poorest people in society pay a huge part of the tax burden. they have very few business regulations compared to some parts of the united states these are not socialistic eutopias. they have balanced budgets. is bernie sanders calling for balanced budgets? of course not. that's not what bernie sanders wants, he wants to control the entire economy. stuart: is the democratic party in your view now a socialistic party? >> yeah, absolutely. [laughter] i don't think there's any question about it. more than half the party, more than half of democrats say they
11:33 am
favor socialism. stuart: okay well define socialism then. >> right well it depends on how you define it then. stuart: well how do you define it if the democratic party is socialistic and you're saying that how do you define socialistic? >> right, socialism is the collective property, is it collective management and ownership of property and in a society where you have government or the collective controlling most of the economy that would be a socialistic economy and that's exactly what bernie sanders and alexandria ocasio-cortez want in the long run. stuart: but they don't want the government to actually own amazon, microsoft, apple they don't want ownership of the means of production, do they? >> in certain industries they absolutely do. i think they do want to control the energy industry. that's what the green new deal is all about. i think they do want to control education, higher education. i think that they do want to control the health insurance
11:34 am
industry and maybe even the entire healthcare industry so yeah, i actually do think they want to collectively own and manage much of the economy, maybe not all of it but most of it certainly that's absolutely where the far left wing of the democratic party has moved and that's why bernie sanders is trying to change the narrative and turn this into something about minimum wage when it really isn't about minimum wage. this is about controlling your life because bernie sanders and alexandria ocasio-cortez believe that you, the american, sitting at home right now, that you're too stupid to manage your own affairs and they should be managing them for you. stuart: i think you're right there. justin haskins welcome back. we'll see you again real soon. thank you, sir. >> thanks, stuart. stuart: i want to get to the other side of the political spectrum and discuss conservatism. the american dream, to put it right there. shelby steele is with us a senior fellow at stanford university hoover institution. i read your new piece in the wall street journal and i say the american dream is still alive and i think you agree with me, right?
11:35 am
>> i do. i do. i think it's still very much alive. not only in america. [laughter] stuart: well can you climb the food chain? look, i think i live the american dream. i came here 43 years ago, didn't have much when i arrived i think i've climbed the food chain and lived that dream. do you think that someone who comes to america today also with nothing can climb the food chain just like i did? >> absolutely. why not. we are a free society essentially, based a good deal on individual initiatives, individual effort responsibility these are the kinds of thins that give you a very good chance of succeeding in a free society. stuart: but you hear it all the time, that if somebody could be held back by their race, or their gender, or their ethnicity , you hear that all the time.
11:36 am
you could be held back by those factors. no? >> we live in a new age. i grew up in segregation. i know what it's like to have a society entirely organized against your aspirations as an individual. i know what that's like. that does not exist any longer. this is not absolutely perfectly gone, but it is largely gone, so that today no matter who you are no matter what your race is your color is your ethnicity, et cetera, you can do pretty much what you want to do, what you want to work hard enough to really do. i don't know any place in the world that offers more opportunity, more freedom than this society. stuart: i agree. i do. >> all sorts of other reasons that that's not true, but as a black american i can certainly tell you one of the most
11:37 am
important things i've ever understood in my life is that i'm free. that was not the case when i grew up. that freedom is a very rare gift and we need to appreciate it. it is the answer to all of our problems. stuart: shelby thank you very much for being on our programmed to, and making that statement, because all too often, we hear the exact opposite and it was a real pleasure to have you with us, sir. thank you. >> thank you for having me. stuart: sure thing. martin martin skhreli, bad boy, in solitary confinement i think we know why. ashley: yes because apparently according to a wall street journal report he was using a cell phone from behind bars to operate another business, and it was doing it by a cell phone kind of a born out of the same area that he was put in jail for a pharmaceutical company because he became famous because he was jacking up the prices of rare
11:38 am
drugs and eventually sentenced to seven years for securities fraud and conspiracy to commit securities fraud but bottom line is apparently yes, he did have a cell phone, had people on the outside and was quite happily running this business. since then he's now in a special housing unit, under watch, no cell phone. stuart: i wonder how he will react to solitary confinement. ashley: not well i would imagine stuart: he's usually surrounded by lots of people. ashley: and doing his fast deals stuart: so much for confinement rather tough i would say. quick stock check let's look at tesla looking forward to their first quarter sales number, which will come out later on today, may not be such a rosie number since federal tax cuts on all sales, tax credits i should say on the sale of tesla cars they were slashed in half earlier the stock is down $3 at 2.86. verizon announced a new smartphone plan designed for kids called "just kids"
11:39 am
releasing thursday. parents can keep track of their kids and limit their time online through a single app and the stock is still around $58 a share and how about marijuana stocks? the fda wants to explore new ways to integrate cbd into dietary supplements and other foods while taking on cbd products that may lie about the amount they use in their products. the question is how much cbd is really on there and can you believe the labels. president trump heading to the southern border friday, and still threatening to close it unless mexico takes real action to stop migrants. we're talking to senator john ho ven in a moment will the president get the support he needs to shut down that border and this story falls right in line with our theme today the verrazzano-narrows bridge the bridge that connects brooklyn to staten island has the most expensive toll in the country you'll not believe how much it costs to cross one way but of
11:40 am
course we will be telling you. >> ♪ ♪ termites, feasting on homes 24/7.
11:41 am
we're on the move. roger. hey rick, all good? oh yeah, we're good. we're good. termites never stop trying to get in, we never stop working to keep them out. terminix. defenders of home.
11:42 am
stuart: the dow is down 100 points a couple of reasons maybe there's something over shutting the border which would have serious economic consequences to both sides and maybe there's also a question about the price of oil, where are we now? ashley: i was just looking that up to 62.40 a barrel up another 1.13% today and an impact obviously gas prices rising more money coming out of consumers pockets. stuart: gas prices are close to $2.70. ashley: they always go up quickly when oil drops. stuart: however, we should tell you that we were up over 300 points yesterday, so a 100 pull back this morning is not that big of a deal and where we are now, the big techs we've got time for, yeah, mixed bag, back in a moment. ashley: [laughter]
11:43 am
11:44 am
stuart: another edition of varney on the road, where are we going today? staten island, new york perhaps you might want to buy that corle on house so to do that you've got to cross the verrazzano-narrows bridge and it is a one-way toll at $19. how about that? it's a two and a half mile bridge by the way and the most expensive toll in the nation the 23-mile, chesapeake bay bridge tunnel, that is a mere $18. verrazzano wins, highest price. the border crisis, president
11:45 am
trump will be going there this friday, and homeland security chief kirstjen nielsen cut her trip to europe short to come back and deal with what is clearly a crisis and the president still threatening to close the border come on in john hoven, from north dakota republican. mr. senator would you support the president if he decides yeah , shut it down? >> well we need to take action. if you look at march, 100,000 illegal crossings, that's up from 75,000 in february so the numbers growing and i think what he's looking at doing now is taking more of the cbp, border patrol people off some of the points at some of the regular traffic checkpoints, the commercial checkpoints and having them help with this handle all of the illegal, people that are crossing illegally, and that of course would slow down commerce and that creates more pressure to get mexico to help us with this crisis. stuart: are you prepared for the financial consequences of a closing of the border?
11:46 am
they would be very severe. mexico is our third largest trade partner and they send us almost half the fresh produce that we get the repercussions would be very serious. >> exactly nobody wants the border closed which is why mexico needs to work with us. same thing with the central american countries whether it's el salvador, guatemala, honduras , they need to work with us too. we're providing foreign aid, why aren't they working with us to address this problem and that's what the president is trying to do. he's trying to get mexico in the central american countries to work with us to address this crisis. stuart: the republicans would get the blame, when the avocados disappear from the grocery store when there are fewer tomatoes and strawberries for example, republicans would get the blame, president trump would get the blame. >> well i understand that which is why i think he's working through what can he do to stop the illegal crossings and get mexico to work with us? and it's not to shut down the
11:47 am
border. stuart: do you expect him to shut it down? >> not what i expect initially is that like i say move more agents to dealing with the illegal crossings but that would slow commerce but that also puts mexico on notice they need to work with us so i think he's traying to come up with a solution and avoid closing down the border. stuart: you're from north dakota you're a republican senator north dakota. you've got a border it's a border with canada. have any problems there? >> you know, there's always some challenges but our people do a great job, cbp does a great job, actually out of the grand forks border patrol station we have responsibility for 900 miles of border using technology, people, sure there's challenges but it works well and our folks do a great job. stuart: is your state still drilling a ton of oil and doing well from it? >> 1.4 million-barrels a day. it's just unbelievable. we're now that the united states is now the largest oil & gas producer in the world, big part of it is what we're doing up in north dakota but also producing
11:48 am
an incredible amount of natural gas, we need more pipelines and lng facilities to get that to market so that's something that's a big initiative and good for our economy and jobs and good for energy, growth, but it's also good for national security, if we can be the marketer of natural gas versus some of our adversaries. stuart: you have no problem with sending and exporting some of our oil and natural gas, your opponents would say wait a minute that's american oil and natural gas. we want to use it here. you don't have a problem with exporting it? >> no because we're growing in terms of our energy development. we are the dominant energy player now and again, it's good for our economy and good for our national security because instead of these companies buying natural gas from russia or iran or oil from iran they're buying it from us. stuart: 1.4 million-barrels a day who would have thought you'd be doing that. >> and growing stuart, growing.
11:49 am
stuart: great stuff, senator john hoeven, from north dakota thanks for joining us appreciate it. >> yes, sir. stuart: something we haven't touched on today, the mueller report, the new judiciary committee wants the report in full, now and if they don't get it, they will issue a subpoena for it tomorrow. we've got the story. >> ♪ ♪ when you rent from national... it's kind of like playing your own version of best ball. because here, you can choose any car in the aisle, even if it's a better car class than the one you reserved. so no matter what, you're guaranteed to have a perfect drive. [laughter]
11:50 am
(vo) go national. go like a pro. see what i did there?
11:51 am
11:52 am
11:53 am
stuart: all right, our first mentioned to of the mueller report. tomorrow, the house judiciary committee will start the subpoena process. they want the full mueller report released to congress in full, no redactions, and if they don't get it today they're going to start subpoenaing it tomorrow chad pergum fox news senior capital producer is with us what's this process going to look like? >> well they're certainly not going to get it by the end of the day today and probably not tomorrow and that's why the subpoenas will go forth. there's question questions right now whether democrats try to have it two ways they say they want to adhere to the law which does provide for a process for certain redactions providing
11:54 am
grand jury information and also intelligence information but they want the full report and let me turn this around for william barr the attorney general is whether he puts out a full report or something that has a lot of redactions and people start asking questions are they trying to hide something so that's the problem for the attorney general. >> well the attorney general cannot release the report un redacted because it contains grand jury material and the law says, as i understand it, you can't release that to the general public. what the democrats have to do, i believe, is go before a federal judge, to say hey, this over rides that problem of grand jury material. am i right? >> right and that's the problem here, because democrats are going to say wait a minute this is dragging out this is dragging deeper into april. how much time is this going to take, what are you trying to hide here, and jerry nadler, the chair of the judiciary committee pointed out that he thought an early may testimony from
11:55 am
william barr was going to be too late and when i talked to a couple senior democrats last night they indicated they fear they are going to get a memo on steroids something that's not nearly as short as the memo that came out a couple of weekends ago but something that's a bigger version of that but not the full report because they say it's nothing but redactions that's the problem for both sides does it look too redacted or is it unredacted and whatever is redacted people start to read in between the lines conspiracy theories you name it is the problem for both sides. stuart: but chad, i'm sure you've seen this on fox news, and on this program, general nadler back in 1998 didn't want the full star report on monica la had as president clinton and now anything that's in that report he wants it out there it's a direct contradiction. >> absolutely and that's the problem and why the president called jerry nadler out today earlier on twitter. when you go back to that vote the process was different in
11:56 am
1998 because the star report went directly to the house and the house voted with a binding vote to release it. the house voted a couple of weeks ago in non-binding 420-0 to release the full report republicans joined in, jerry nadler certainly voted yes but you say as you point out that's a problem for jerry nadler was he trying to protect president bill clinton in 1998 and is he going too far trying to get at president trump because he's republican in 2019 that's the problem and that's the issue that democrats have right now does this look too political for them. stuart: always remember, chad there will always, always be more questions. right there, good man thanks for joining us chad see you again soon. more varney after this.
11:57 am
. . .
11:58 am
11:59 am
the vote hurting stock market. it's a negative. the dow stock, way down. that is also hurting the market. what i'm still incensed about, a week later, charles, heir to british throne, camilla, royalty, visiting cuba on a state visit. that is appalling. ashley: that is appalling. it is tone deaf. this is government that treats human rights, it is just nothing. they go to legitimatize that
12:00 pm
government. i don't know who they get their advice from. >> cuban police are shooting them in the streets. their royalty goes over there to give them plaudits. appalling. i calmed down. connell mcshane is in for neil. connell: scary, when you get all british on us. welcome to cavuto kos to coast. i'm connell mcshane filling in once fenn for neil. a lot of border news for neil. as we break the department of homeland security with officials there, just saying a few moments ago, they're facing what they have described as a quote, systemwide melt down on the southern border of the united states. white house press secretary sarah sanders says we're at a breaking point. it all comes as president trump is still standing firm it appears on a threat to just close down the southern


info Stream Only

Uploaded by TV Archive on