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tv   Varney Company  FOX Business  August 27, 2019 9:00am-12:00pm EDT

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jackie, tom, thank you one and all. it is always such a pleasure. we've got to talk about hard seltzer as well. "varney & company" is up right now. mr. varney, stuart varney, take it away. stuart: good morning, dagen. good morning, everyone. johnson & johnson has been ordered to pay the state of oklahoma $572 million. the judge said they played down the dangers and oversold the benefits of opioids. now, there are more than 2,000 opioid lawsuits still going forward. you'd think that would be bad news for j & j's stock but look at this. the verdict came after the market closed so today is the first opportunity for investors to pass their judgment, and the stock is up $1.40. that's premarket trading. we are going to get into this just a little later in the show. that monmouth poll has thrown a big wrench into the presidential campaign of joe biden. he's lost his lead. he's made another gaffe. on occasion when he goes off prompter, he stumbles.
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the pundits are questioning whether he has the stamina and the focus to go the distance. if he doesn't, the democrats are left with two way out there, far left frontrunners. just wait until you hear the details on bernie sanders' $16 trillion climate plan. stocks, they are going up again this morning. the chinese foreign ministry, cool to the president's statements on china trade, and we have been in and out of that inversion of the yield curve all morning. it doesn't seem to have been a big negative. the dow's going to be up about 80 odd points, 10 for s&p, 43, 40 odd points for the nasdaq. that's about a half percentage point. all right, everyone. stay there, please. we are going to show you the latest biden gaffe and a closer look at the poll that's really set him back. "varney & company" is about to begin.
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i just spoke at dartmouth on health care at the medical school or i guess it wasn't actually on the campus but the people from the medical school were -- i want to be clear, i'm not going nuts. i'm not sure whether it's the medical school or where the hell i spoke but it was on the campus. stuart: okay. that was mr. biden on the campaign trail. now look, the latest monmouth university poll, that has sanders and warren even and biden is now trailing. okay, by just a point, but he is trailing. his lead is gone. kevin sheridan is with us, a political watcher. how do you think president trump -- you are associated with president trump -- how do you think he feels about going up against two socialists because if we discount joe biden, you got two socialists to run against. what do you say? >> well, if you look at the monmouth poll and they are pretty good outfit, this is one poll only, but i do think that the structure of the race in the democratic primary remains that
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a huge chunk, 40% to 50% of the democratic party electorate, is in the socialist wing of the party right now, and that's where all the energy is. stuart: hold on. hold on, kevin. if you go up against warren or bernie sanders, i'm losing my mind here, losing my memory, if you go up against those two, they are going to be offering free stuff, free this, free that, whether it's medical care, whether it's college or even just money. free stuff. how do you fight that? >> well, i think the trump campaign is pretty well set up to do that. look, $35 trillion is a baseline for the democratic party right now in the free stuff that they are promising. look, the numbers on socialism have changed a bit among the millenial generation. they view it a little bit more, you know, positively than i would have ever thought was possible but this is one of those things each generation has to kind of -- stuart: what do you say? what do you say?
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suppose i'm a young voter. i'm an old voter. supposing i was a young guy. here they are offering we will get rid of your college debt, we will let your kids go to college for free, free health care, you got it, son, here it comes, how about a house? you can have that, too. specifically how do you fight that? >> well, you don't get to 3% unemployment and you don't get a booming economy with those policies. we can just rewind the tape to the obama years when that was not happening, when, you know, unemployment was double what it is now, when, you know, we did not have a booming economy whatsoever. gdp was way down from where it is now. i think you can say look, all that was done just by taking off regulations, lowering taxes for -- the corporate tax rate and making some simple economic fixes. that's the way you always get a booming economy. and you know, it's not easy to go against free stuff. you're right. people see that they are going to get free college tuition or free house or free car, whatever
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it is, i -- stuart: i'll vote for you. i think you're going to take a more direct approach. socialism is evil and it is a fraud, because you're not getting anything for free at all. i think you should just go confront it. >> we have real world examples in venezuela right now. stuart: that's an extreme. i think you should go to europe and look what's happening in europe. it's a museum. that's what happens with socialism. kevin, i'm sorry, i'm out of time. i'm getting all fired up here. kevin, thanks for joining us. see you later. let's get to the j & j, the johnson & johnson story, because this is important. the stock is up despite the fact that j & j has been ordered to pay $572 million in a landmark opioid case. dr. marc siegel is with us this morning. not for the legal side of things, for the medical side of things. why is prescribing painkillers now regarded as a public health hazard or public nuisance? what's going on? >> because of the enormous harm that's done.
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even i am going outside the box of what i usually say here. i usually only blame physicians because they have the pen, because they, we, are the ones who decide what we prescribe. in this situation, there was a culture of misinformation that was spread everywhere, to the doctor, to the patient, and it involved pharmacies, it involved physicians for sure, and it involved drug manufacturers who deliberately, deliberately, and there's a lot of records of this, had attempts to sway doctors to prescribe things that ultimately led to harm. that's the public nuisance part. what harm? people that were addicts, 72,000 overdose deaths this year from prescription drugs. people in the hospital, people with untoward medical complications. what is pain? pain is not necessarily something you throw an opioid at. pain is something you figure out what's the cause of this pain. is it a muscular problem, is it a bone problem. give the proper specialist to figure out what the cause is and you might not need the opioid. stuart: there are thousands of people in this country who have
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had their pain relieved by opioids and who are not now addicts. what do they do? are they no longer going to have access to opioids? >> no, because opioids are still in the market. you made a huge point here. we're not saying there's no use for them whatsoever. we're saying how long are you prescribing this for. if it's for a fracture, is it for a day or a year? how many pills you giving that patient after a wisdom tooth is removed? that's got to be looked at. so doctors have down on too here, not just j & j. doctors are being sent to prison for prescribing 60,000 pills in a year. that's where they belong. i mean, j & j is being held accountable and what's really precedent-setting here is that a verdict was delivered. now, they will go and appeal and play games and they will get their lawyers involved but a verdict was delivered here and that's very very important. the reason their stock is up, by the way, is because investors thought it was going to be $17 billion and it ended up being much less than that. but the state had a pretty strong case. the mental health commissioner
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was crying on the stand about how much damage has been done to the public. stuart: that makes a very good witness in favor of the prosecution, now, doesn't it. where the medical guy cries on the stand, you have yourself a jury that's going to go that way. >> but she meant it. because a lot of harm has been done. now, the other point i want to make, the money here is supposed to go to programs, you know states always play around. i don't want to see this money going to some bridge or to someone's pocket. i want it to go to programs to prevent opioid addiction and treat addicts. stuart: the "wall street journal" reports this morning that some of the money, a large chunk of the money, goes to the prosecutor's school where they will set up a center for addiction. >> i think it's great. stuart: university of oklahoma. >> great. stuart: really? >> yes. stuart: doesn't go to the addicts who have been affected. it goes to a university to study addiction.ut okay, i would rather it go directly to the addicts. fair point. but at least studying addiction may lead to some alternative treatments. it may lead to methods including
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medically assisted therapy to get people off of these opioids. i'm not against it. much better that it goes there than it goes to some place that has nothing to do with the problem. but we need the money to go to addicts. you are absolutely right about that. it should go to addicts, should go to rehab centers and to prevention. stuart: doc siegel, thank you for joining us. unusual for you getting the "a" block of the 9:00 hour but it was worth it today. >> really great to see you charged up. this is a very very very important verdict. stuart: yes, it is. it is indeed. thank you very much, sir. let's get back to your money. we have a look at interest rates. the yield on the ten-year treasury is 1.51%. i hereby predict that 30-year mortgages are going to drop like a stone. i think they will come way down below 3.5%. if you are thinking of refinancing, maybe you should wait awhile because you are going to get a much better rate in a couple of weeks. that's just the way i think about it. what are you laughing at? ashley: nothing. nothing.
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stuart: don't believe you. the price of gold this morning, where is it? it's been doing reasonably well recently. had a nice run. up again today, $1,539 per ounce. price of oil, $54 per barrel. not much movement. but look at gas. we are down again. the average for nationwide for regular, $2.58. i think that thing is going down some more as well. next, new numbers on home prices. just breaking, up or down? ashley: well, they're up 3.1% year over year but the house price gain is slowing down, if that makes sense. the home prices are not going up as fast as they were. they were up 3.3% last month, i should say in may, this is for june, by the way, so things are slowing down. however, those low mortgage rates will, by all accounts, push those prices back up. 30-year mortgage now is 1% less than it was a year ago. that will help push home prices back up. the three cities making the biggest gains, phoenix, up 5.8%,
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las vegas up 5%, tampa almost up 5%. stuart: tampa. who would have thought tampa. ashley: no taxesme. and beautiful oceans. stuart: still on your money, how do we open this market this morning? it is tuesday all day. we are up about 100 points at the opening bell. up 50 on the nasdaq. now take a look at uber and lyft ride sharing services. there's a new report that says these companies are taking more money from their drivers than they say they are. that's good for the stock for some reason. uber is up, lyft's up. now this. a 26-year-old woman from illinois trying to become the youngest member of congress. she's a republican. she bills herself as the anti-aoc. she's on the show. and the mainstream media going after president trump's performance at the g7. "the washington post" says he put on quote, a stunning display of incoherance.
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stuart: the media had a field day. it was a very negative field day with president trump at the g7. first the headline in "the washington post," here it is, trump gives a stunning display of incoherance at the g7. then we've got the "new york times." it's a very long sentence. i will try to read it. the pity of the entire group of 7 show was that it was part of a new normal in which the world's major liberal democracies basically accept that they are out of sync with the president of the nation that should be leading their efforts to manage the world and its resources widely and responsibly but isn't. i got it all out. joining us, walid phares, fox news national security analyst. i see it completely differently. i think the president did okay. i think he led. what say you? >> look, "the washington post"
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and "new york times" represent the point of view of the opposition. they criticize the president whatever he does and they are going to describe the g7 as a very integrated, unified group that represents the world and president trump is in the other valley. that is not reality. what has happened is the g7 now is basically addressing multiple issues, on multiple tracks. we have seen our president dealing with the prime minister of japan, with other leaders, in coordination with the uk. of course, there were other countries present such as egypt, african leaders, so it's not that the whole world is unifyie. it's basically a different cobweb of interests that was at play. stuart: there seemed to be a particular difference on the issue of climate. i do think that most g7 -- the g7 are united in their desire to do something about climate but our president didn't even attend a climate meeting. he sent his aides instead. i think they are ignoring what i think is the clear success with
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trade. we got a trade deal with japan. we are talking about a trade deal with the brits. we are probably going to talk lessening the trade tariffs on cars with the germans. i see progress there. i see american leadership there. >> look, the essence of trade negotiations is trading, is negotiating. that's how you build it. so our president was dealing with multiple issues and you just mentioned japan, great britain, other countries. there is also another aspect, counterterrorism. all of them, the seven were completely unified on that position. i would say even on environment crisis, there was a sort of urgency that we need to do something, but we need to discuss what's the authority of national governments. we are talking about the amazon, brazil, so on and so forth. that's the reality of it. it was a forum of negotiations. that's the design. you don't ask bureaucrats to tell you what to say, what to do and prepare it and then the leaders have nothing to say. stuart: precisely. walid, welcome to the show. great to have you with us. see you again real soon. thank you very much, sir.
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this is a related subject here, related news story. brazil has rejected that $20 million donation from g7 to fight the fires in the amazon. all right, ash, why did they turn it down? ashley: because they don't like the sentiment behind it. they say brazil is a democratic free nation that has never had colonial ichliist or imperialis practices which is the objective of the frenchman macron. the war of words between macron and balsonaro has been getting uglier. the brazilians making fun of macron's wife. now they say they won't accept any money or consider it until mr. macron apologizes to brazil for treating brazil like a colony. stuart: meanwhile, balsonaro is privatizing everything. there was so much corruption in enterprises, he sees it, can't
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have it, he's privatizing. totally different from most europeans. take a look at futures. we have gained a little ground in the last few minutes. now we are going to be up about 110, 111 points for the dow. big gain yesterday. we were up 269. got that. then there's taylor swift. she took a shot at the white house during the video music awards, otherwise known as the vmas. she wasn't the only artist who got political. you will hear it all after this. when i lost my sight, my biggest fear was losing my independence. mmm... good. so i've spent my life developing technology to help the visually impaired. we are so good. we built a guide that uses ibm watson... to help the blind.
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stuart: we showed you what's happening on the market again because it's going up even though the yield curve is sharply inverted. okay, the yield on the ten-year, 1.51%. yield on the two-year, 1.55%. yet with the yield curve inversion like that, the market continues to go up. go figure, please. let me move on. because i can't figure it out. mtv's the video music awards, not just about music, of course they weren't. politics intruded. lauren simonetti is here to tell us what happened. lauren: well, it was all about equal rights last night. here's taylor swift. >> voting for the video means that you want a world where we're all treated equally under the law.
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regardless of who we love, regardless of how we identify. everyone who signed that petition, it now has half a million signatures which is five times the amount that it would need to warrant a response from the white house. lauren: that was in her -- i'm sorry, it -- stuart: we are all treated equally under the law. lauren: it was her acceptance speech for her video that won video of the year, "you need to calm down." in that was a link to's petition to get enough people to tell the senate to take up the house-passed equality act that gives equal freedoms to lgbtq. stuart: okay. okay. lauren: she used that moment. we have to wait until we get the numbers for how many people tuned into the vmas. all-time low last year, 5.25 million on all viacom platforms. the all-time high was 60% higher in 2011.
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as these shows get more political, the viewers turn out. my best part was the host, the comedian, one of the best out there, did a whole monologue in the beginning that attacked millenials and safe spaces. he's a comedian. he got beat up on twitter and social media for being insensitive. politics for you. go figure. stuart: go figure. lauren: go figure. stuart: expression of the day. go figure. thanks, lauren. take you one more time, even though we do have a sharply inverted yield curve, the market continues to go up. we will be up about 120 points at the opening bell which is in four minutes' time. which you will see right here. ♪ ♪♪
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stuart: bernie sanders wants to revive what he calls real journalism. he's going after, what, facebook, google and disney? ashley: yeah, because he says he's trying to prevent them from having enormous market power, what he says is cannibalize and bilk and de-fund news organizations. he said small news organizations and news outlets don't get a chance. he said there's also conflicts of interest at news outlets like disney and amazon. why? because they promote the companies while failing to help their workers with living wages. there you are. stuart: yes. okay. we would get to it sooner or
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later. forget the exclusion of conservatives. no, you got to pay a living wage or we're coming right after you. it is ten seconds to go. the market will be open. it's tuesday morning and we expect it to go up despite an inverted yield curve. here we go. three, two, one. 9:30 eastern time tuesday morning. we're off and running, up 269 yesterday and immediately, right out of the gate, we're up -- we are up 120 points. that's exactly a half percentage point. the s&p, where is it at? compos it at? it is up -- hold on. here we go. up two-thirds of 1%. the ten-year treasury currently yields, let's see, 1.52%. okay. that's where you are right now. don't know whether we're inverted or not. ashley: 1.55% on the two-year. stuart: in which case we are inverted. the market's straight up. go figure. here's big news. gold, $1540 per ounce.
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now let me give you the really big news of the morning. look at phillip morris. it has confirmed it's had discussions with the altria group, another tobacco company, regarding a potential all-stock merger of equals. altria up four bucks. philip morris down nearly three bucks. an all-stock merger. they are talking about it. mike murphy is here. d.r. barton is here. ashley webster is here, of course. we are going to start with the landmark verdict against j & j over opioids. okay. this morning, i believe j & j has opened on the upside. yes, it has, up a buck and a half despite that verdict. you, d.r., you say you would buy it at $129 despite the verdict? >> i would. i believe what we are going to see, it's going to go to appeal. this may even get overturned. because this is somewhat -- it's not somewhat, it's hugely a political issue about who can be punished for this much more complex issue. j & j is going to do their
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marketing and the things they do at the highest level of any pharma company. they are going to be the last people in line to get nicked with things like this. they have a broad portfolio. i like them for the long term. stuart: okay. this stock, j & j, has lost 5% of its value since august of last year. i think i'm accurate in saying that. but you still like it for the long term? >> i like it. i don't own the stock but it pays about a 3% yield. i think once this gets behind them which having this verdict, although it's big money, it will be appealed and whether they win or lose in appeal, it could have been much bigger money. so having this uncertainty out of the way i think paves the way for good entry point in johnson & johnson. stuart: let's get to the latest on china trade. the chinese foreign ministry will not confirm those phone calls -- conversations which the president said were held, and china says it is the u.s. that is the instigator of this trade trouble. d.r., i don't care what the latest statements are, this is a
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headline-driven market and i don't know how professionals trade when they could get punched in the teeth by an errant tweet any moment. >> i think it's less of an issue of how the professionals trade than what people are sitting at home. here's the issue. people sitting at home need to have a plan and stick to the plan, not spend every minute getting worried about where it's going up and down. if we get a big drop, if we violate some key support levels that we have not, then we can start thinking about should we be taking some money off the table. until that happens, i think it's important to stick to the plan, not watch headlines. stuart: are you a dollar cost averager? always putting the same number of dollars per month into this market? >> i think that's a good plan for many people. not me, but for many people. stuart: here's the surprise of the morning. i will get to you in a second, mike. we are up 120 points even though we have had inversion. i hate to drone on about it. are we getting used to it?
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the yield on the two-year is above the yield on the ten-year. not supposed to be like that but that's the way it is at this moment. are we just getting used to it? doesn't it count any longer? >> it counts as much as it ever did. that will tell you that throughout history, it signals a recession coming over the course of the next 22 months, usually, it comes. so the market, a lot of times, after an inversion, before recession, may have a very strong rally there. i think the bigger story here is that we are 4% off our all-time highs. if you look at the headlines out there you would think the world is coming to an end. the president is not doing this, trade wars coming here, so many negatives out there. we are 4% away from all-time highs. if you look at the u.s. consumer, consumer confidence of people who are investing in the market, people who are putting their money in 401(k)s and retirement accounts, i think they believe in the growth of the u.s. economy. stuart: i would raise this point, too. with this yield curve inversion, i think the market is sending a message to the federal reserve, drop rates, drop them right now
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and i think maybe the market's anticipating that. because the pressure is just so strong. so strong. all right. let's get to uber and lyft. both below their ipo prices, by the way. there is some unflattering, it's an expose about how much money they take from their drivers. ashley: interesting from the website, they claim they looked at the receipts of more than 14,000 uber and lyft drivers to see exactly what take, they call it the skim, if you like, of all the take-ins from the drivers, what rate do these companies take. they calculated 35% cap on rides of uber drivers, 38% of lyft. this is way above what the companies say they actually take. uber says they take 21%. lyft says 26%. now, the companies are fighting back saying this is completely, it's a tiny sample. there are millions of uber and lyft drivers around the world and they say this is biased because these are disgruntled drivers and they say you have to look at the big picture.
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they say no, we do not take 35% but of the receipts looked at, over 14,000, they say that yes, they are losing 35% for the company. stuart: mike murphy, as a long-term investor who wants to get in a brand new industry, should i buy uber at 33? >> absolutely. i told you should buy it also around $40. i own the stock around $38. uber to me is a whole new category. i think this news that comes out, when's the last time you saw uber and lyft combining to defend themselves together? i think this could actually be helpful to them. but here's the big thing. uber is losing money. they need drivers. they need happy drivers. they need customers. so they have the customers, they have the drivers. they need to pay drivers more. and they need to charge customers less or the same and become more profitable. so we had a gentleman on the show here running a company called cargo. cargo was selling snacks in ubers to make the drivers more money, sometimes up to $500 a month. i think uber will figure out a different way, while you're in the back of the car, to somehow
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monetize your experience. whether it be through -- stuart: how can you be losing billions a quarter, raise the rate that you pay drivers and make the fares cheaper? it's going the wrong direction. there's not enough volume to make up -- >> great question. i think that's the negative on uber. here's the thing. if a driver can sell snacks in the car and make money from that, $300, $400, $500, that's one way. another way is while you're in the back of the car, so much money is spent on facebook ads and google ads. what if a company could advertise to you, ashley webster, knowing what you like or don't like, what large companies pay for that type of advertising, i think they would. and what if uber just raised the price slightly? they did 1.5 billion rides a quarter. if they raised your uber ride $1 per ride, they would go from a loss to a $1.5 -- stuart: you made your point. you took two minutes. defending the company which
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you've got a stake in. say no more. the dow industrials are up 138 points. yeah, we are still inverted and the market doesn't care. up 134. big tech, got to check in. where are they now? all of them on the upside. apple, amazon, facebook, google and microsoft all up. discount chains dollar general and dollar tree have been fined $1.2 million for selling expired drugs. no impact on the stock. check grub hub and dine brands. they are partnering to offer delivery for more than 3,000 applebee's and i-hop locations. more on the delivery wars. they're involved. bitcoin, still around ten grand a coin? yes, it is. the price of oil still around, what, $54 a barrel? is that where we are? yes, it is. $54.01. colorado taking a cue from california, requiring auto makers to sell more electric cars. oh, come on. this is america. can't i choose for myself what car i want to buy? >> you can and should. stuart: i can and should.
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>> they are going after the car companies, not the buyer. the buyer still gets to pick. if the car companies don't sell enough they want to fine them or make a marketplace where you can buy and sell your electric car credits. stuart: come on, president trump. get involved in this. this is america. come on. next case. kfc used to be known as kentucky fried chicken, teaming up with beyond meat to test plant-based chicken. you are a chemical engineer. in the name of healthier eating, where do you rank all of this? >> i think there is a big game afoot here. 7.3 trillion dollars of meat, poultry and seafood will be sold in 2025 globally. that's a huge market. if they can get just a sliver of that. i think so far, this is not a health issue. this is a long-term cost issue. we are going to be able to create protein at a much lower price point to be able to feed
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this growing global population and at a much lower price point. that's going to be a good thing. stuart: that's interesting. the price of protein, that's where it's at. >> that's the long play. stuart: okay. $7 trillion worth of meat, poultry and fish? >> meat, poultry and seafood by 2025. yes. stuart: any comment on beyond meat, mike? you own a piece of it? >> i don't own beyond meat. i think it's a whole new sector. it's a great exciting sector. we talked about it in the low 200s that the concern for people watching your program at home is to not have the fear of missing out. not run in and have to jump and pay exorbitantly high prices for something just because everyone's talking about it. stuart: fomo. interesting to hear you use that expression. my grandchildren use that expression. all right. thank you, everyone. it is 9:40 eastern. d.r., mike, thank you, gentlemen. good stuff. we are still up over triple digits, not quite as high as we
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were a couple seconds ago, but up 117 despite the inversion. got it. a golfer in australia got the wrong kind of birdie. look at this. the man tried to avoid getting attacked by some angry birds after accidentally hitting his ball where they were nesting. luckily the guy was not hurt. it put the fear of god in him. run, son. run. bernie sanders' new climate plan not getting a lot of support from top democrats. it isn't much different from aoc's fantasyland green new deal. i say it's just the latest evidence that frontrunners on the left are, in my opinion, unelectable. my take on that, 11:00. plus gold hitting multiyear highs. next, we have a guest who says it's going to hit 1600 bucks an ounce in the next three months. how do you invest in it? you buy gold mining stocks? buy an etf? or do you pick up gold coins and bury them in the backyard? we will certainly ask him.
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stuart: the yield curve is still inverted, and the dow industrials are still up triple digits. i guess the market doesn't care about that inversion any longer. a passing fad, maybe. look at the price of gold, please. we are around $1540 per ounce as we speak. yes, $1541. our guest says it's going to $1600 an ounce in three months. finance guy stan barney back with us this morning. that's a rather timid forecast. it's $1541 now. it goes to $1600 in three months. come on. >> when i was here last time it was below $1500. then i said $1600. we are now forecasting $1800 by the end of this year. stuart: by the end of this year?
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1800? why? >> there's a big shift coming from equities into hard assets such as real estate, commodities, gold, oil. stuart: out of stocks into real estate, gold, oil, land. hard assets. why the shift out of stocks? >> we've had ten years of one of the best stock markets i have seen in my 30-year career. we have always had recessions every seven years. it's also one of the few times we can borrow money at don't forget, the s&p 500 has almost doubled in the last ten years -- stuart: is this coming to an end? >> it's not coming to an end but it definitely feels top-heavy. i think there's a correction coming. i think smart money is moving into commodities and real estate. those would be the two biggest gainers. when you can borrow money at 3%, 4% and get a 12% return, that 8% spread is implied inflation. stuart: where do i get that
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return? >> you've had it in the stock market over the last five, six years. stuart: okay. let me focus on gold. because a lot of our guests, a lot of our viewers are very interested in gold. they want to know how to invest in it. seems to me there are three choices. you can buy gold mining shares, that's easy. you can do an etf, a basket of gold mining shares, if you like, or you can buy the actual coins. buy the gold itself, handle it, feel it and keep it. which way do you recommend? for our viewers, that is? >> so let me tell you. if you look at both sides of the gold, gold essentially has had in the last 30 years two or three big bull cycles. there was one in the mid 90s, there was one in 1980 when gold hit $1,000 an ounce. then there was one from 2003 to 2014, and i think the next gold bull cycle is starting now. it already started in april of this year, it's going to last four to five years. in all these cycles, the best return has been stocks. if you buy gold say at $1500, it goes to $2,000, you get a 20% return. the stocks will go up five
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times, four times -- stuart: gold mining stocks. >> especially junior intermediate stocks. the major stocks will go up 20%, 30%. this ought to follow the indices, the gold price, but the junior intermediate stocks get a lot of leverage. we have seen that. they go up ten times. i can give you an example. when i, in '03 when i got into one of my first gold companies, it was called desert sun, we started at 40 cents a share and sold it to a major gold producer at over $7 a share five years later. the potential is very good. stuart: that's very good. i will give you that. i will give you that. >> we had several examples of that but you have to pick the cycles. in a bad cycle, the opposite is true. gold stocks have been down sf70 80% in the last five years. stuart: your advice to our viewers is maybe get out of some of your regular stocks and go into gold mining shares because you think the big rally in gold is starting now, $1800 an ounce by the end of the year. buy gold mining shares now. >> i'm also saying take 5% to
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10% of your portfolio and some people like to be more secure, they want to buy gold coins, but for the bulk of the younger, intermediate, middle-aged people that have 10, 20 years before retirement, i would definitely buy some junior and intermediate gold stocks. stuart: got it. stan, thank you very much. clean-cut. good advice. we take that. thank you. good stuff. all right. check the dow 30. i keep saying it. we are still inverted. here we are, quite significantly so. the market doesn't care about that this week. we are up 120 points for the dow industrials. next one. a lot of young people will be starting college for the first time this week. next, we have a guest who says that for about half of those youngsters, it's a rotten investment. college is a rotten investment. the man who said that is a professor or was a professor.
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stuart: papa john's, look at the stock, it is up 6%. it has named arby's president bob lynch as their new ceo and this is a pizza chain and they partnered with the nba star shaquille o'neal. there's a star. he's on this show. shaq on this show, tomorrow morning around about this time. tune in, please. here's a headline from market watch.
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quote, u.s. spends too much on higher education. peter morici wrote that and he's with us now. >> i'm still alive. stuart: amazing. amazing. now, you say that about half of the college students who are going to college this week are making a lousy investment. right from the get-go, tell us why you're saying that. >> well, the graduation rate is so low. it's like about 60% is the average graduation rate, okay? then you have about a quarter of the people that actually graduate don't earn any more than the average high school graduate. they end up at starbucks. it's not a temporary situation. it's permanent, or they are selling cell phones at verizon. so if you put those two groups together, remember, they don't give you your money back if you don't get a good job. a lot of people go for a year or two, pile up 10, 20, $30,000 worth of debt, even more at a private school. other people spend all four years, pile up even more debt. the students that don't do well tend to pile up the most debt because they get the least amount of financial aid.
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for them, college, they would have been better off buying gold. stuart: you're right. >> buying those coins, burying them in the backyard and digging them up when they're 40, too old to squander them. stuart: hold on a second. i'm going to ask our producers to put up on the screen a list of the most valuable college majors and the least valuable. starting with the most valuable. naval architecture, nuclear engineering, pharmaceuticals, genetics, electrical engineering. those are valuable degrees. these are the least valuable. drama, theater, linguistics, comparative language, fine arts. this is kind of obvious stuff, isn't it? >> if you notice a lot of them in the humanities. used to be you would major in english and learn to think. it was a good preparation for law school. now you go to school and go to the humanities college, you learn to demonstrate. stuart: i think you're right. >> about 40% of college graduates cannot pass a generic exam in critical thinking. here's a set of facts, here's a
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question, would you please answer this question based on these facts. which means, and other examinations show the colleges have no value added, that the students are about as dumb as they were going out as when they came in or as bright as they were coming in. it isn't always correlated with the prestige of the school. some little colleges in the middle of nowhere do a great job and some very prestigious schools that charge a lot of tuition and whose degree carries a lot of fancy, they don't add a lot of value. so these humanities colleges, basically they teach ecofeminism and they prepare them to work on the aoc campaigns but there's only so many jobs on capitol hill for hysterical liberals. stuart: wait a second. you're not still a practicing professor, are you? you are professor emeritus, is it? >> that's right. i am in the catalog. i could advise a doctoral dissertation and so forth. i go to school to get my mail at
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night, okay. i try to wear dark clothes. and i do it not just at night but like on weekends or when school is out or things like that. because they are very angry with me. stuart: i'll bet they are. >> look, the president of the college i went to when i wrote an article like this last, he unsubscribed from the mailing list because he didn't want to hear about it. stuart: i'm not surprised, peter. we are out of time. >> these are facts. this is statistically based. stuart: come back and tell us more at a later date. peter morici. >> if i survive. stuart: you will. wisconsin, top dairy state in the nation, now it leads the nation in farm bankruptcies. what's wrong with dairy farming in wisconsin? the former governor scott walker will join us on that one in the 11:00 hour. forget about millenials. we have a guest who says the republicans need to focus on the very youngest voters, 18 to 24-year-olds. generation z voters. what do they want in 2020? we will ask them. and the left stays silent
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after bill maher says he's glad david koch died. where's the outrage? got that story for you coming up in our next hour. stay there. managingaudrey's on it.s? eating right and staying active? on it! audrey thinks she's doing all she can to manage her type 2 diabetes and heart disease, but is her treatment doing enough to lower her heart risk? maybe not. jardiance can reduce the risk of cardiovascular death for adults who also have known heart disease. so it could help save your life from a heart attack or stroke. and it lowers a1c. jardiance can cause serious side effects . . bacterial infection... the skin of the perineum could occur. stop taking jardiance and call your doctor right away if you have symptoms of this bacterial infection,... ...ketoacidosis, or an allergic reaction. do not take jardiance if you are on dialysis or have severe kidney problems. taking jardiance with a sulfonylurea or insulin may cause low blood sugar.
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stuart: make a note of this. the dow industrials are up about 100 points as we get the latest on consumer confidence. this is an important number especially at this particular time when a lot of people are suggesting that this inverted yield curve will give us a recession couple years down the road. so we want to check where is consumer confidence? is it up, down or sideways. we got the number. we're getting through the fine print so to speak. ashley: it is another good number. 135.1. doesn't mean anything to anyone note the expectation was 129.5. we were up 135 in july, which was a massive upside beat. so bottom line is, consumer confidence numbers very strong, critical to the u.s. economy. as much as 70% of this economy
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is consumer driven. so that is a very strong number indeed. stuart: no response on the market. we're still up 90 odd points. bring in scott shellady. what do you make of the consumer confidence number, scott? a lot of people say we'll get a recession couple years down the road because of the inverted yield curve? now we got a strong confidence number. what do you make of all this? >> i just lost you, sorry. stuart: scott shellady. >> there we go. i got you. came back. stuart: did you hear the question, scott? >> no, i did not, go ahead, sorry. stuart: we got strong consumer confidence. at the same time we got people forecasting a recession because of the inverted yield curve. what is your analysis? >> you know what i think? obviously the consumer is going to be strong. they should be strong, things are going well, number of one. inverted yield curve is perverted yield curve. we can't be worry about that
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anymore. we are not facing signs of recession. the way numbers come across the tape we haven't gone with recession with earning where they are. this is lot of bunk. not something there to be worried about. with the amount of debt priced to the negative, stuart, the argument should be why shouldn't the yield curve be negative? that is what i say. stuart: i think the market is i saying to the fed, hey, lower rates. with an inverted yield curve, you have to do something about that, lower rates. that is why i think the market is up a little bit because i think the fed is under pressure here. what do you say? >> maybe they will lower rate. maybe they will not lower them as fast as president trump would like but they are going to ease that problem. it will be hard for us to get out in front of the problem. we could have inverted yield curve for a very long time. inverted yield curve in rate cut environment, i'm not worried about it. with all the weight, debt, 30 years out there, weighing on the
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yield curve. it will be very difficult for us not to have the inverted yield curve. that will not be the problem. here is the problem. the problem is that we've got equities still doing very well. close to all-time record highs. 5% off, whatever the number is today. at the same time we got, the fed worrying about cutting rates. and, the economy may be looking to be faltering a tad. you know what? growing slower is not a bad thing. growing slower is okay. i think everything looks okay to me. i'm not worried about a recession. forget about -- just remember inverted is perverted. forget about it. stuart: okay i will quote you. but i don't know how you guys trade a market which is highly susceptible to the latest headlines. it could be a errant tweet from the president t could be a nasty tweet from the
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we broke solid consumer confidence number. now you better listen to what bill maher had to say about the passing of david koch. shake your head on this one, roll tape.ç >> he and his brother have done more than anybody to fund climate science deniers for decades so [bleep]. the amazon is burning up. i'm glad he is dead.
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i hope -- [cheers and applause] what a great show. stuart: wow. "wall street journal" editorial board guy bill mcgurn is with us. where is the outrage? >> the real outrage should be he is not alone. if you go on twitter, search koch and profits, it is unbelievable how, how disgusting a lot of comments are about a man passed away. stuart: conservative, if i, or anybody had said something like that, i mean i would be out of a job. i would be escorted from this building at 4:00 this afternoon, never come back. >> today i wrote a column on this. my column is saying, a lot of people defending david koch, do it on basis of his charity. give a lot of his money away. look. as a businessman, just as a businessman, the jobs that he created, we had the business roundtable talk about stakeholders and so forth. if you look at the koch industries principles, they talk about satisfying customers. pleasing employees, attract them, keep them.
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helping the community. he did a lot of great things just as businessman of this very, very large american company. and there is very few products that have had the impact on living standards that fossil fuels have had too. he is demonized for two reasons. he was in the energyç business, fossil fuel business, and he made a profit out of it. for that they can't forgive him. stuart: just can't forgive him. i will move on. if that is okay with you, i was disgusted by that. crowds of supporters for elizabeth warren clearly growing. i think he -- she turned out 12,000 people. a new poll shows elizabeth warren and bernie sanders have overtaken joe biden in this, this is monmouth poll we're showing you. you know. it seems to me that joe biden's fading? >> i think he has been fading for a while. if you look at, if you look at his lead, people said his lead has gone up after the debates. that is mostly because bernie
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sanders has dropped, not because he has gained things. to make a football analogy, i'm a notre dame guy. this feels like one of the notre dame games we come up six points ahead, you know you are going to lose. you feel you're going to lose. he doesn't excite the party. his wife even gave this endorsement. it is like a phrase my dad used to use. close enough for government work? stuart: i used that one myself. >> actually it's a good point. that is the selling point. i think now, again i'm not a person that believes gaffs always hurt you. sometimes they humanize you. with this gaps late, knowing is in new hampshire, not vermont,ç think he was vice president, that looks like you're out of it. i think it is really hurting him. i don't see him getting the nomination. people are excited on the right. people don't understand this, because they regard elizabeth warren as an extreme it, but she excites a lot of people in the democratic party. she is fighting.
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stuart: in your judgment, if it is elizabeth warren who is the democrat nominee, can she win? >> i think she can win, because she fights, i think it is not likely. i think donald trump beats her. when there is head-to-head match. we haven't really had, really tough warren biden head-to-head yet. that may be coming in the next debate. stuart: i think so. the next debate is not just that far away. bill mcgurn, thank you very much. >> thank you. stuart: check the market real fast. we're still where we were top of the hour. dow industrials are up, 94 points as we speak, just shy of 26,000. now this. there are several high schools near where i live. over the years i've noticed a decline in number of youngsters out on the football field for practice. soccer practice full. football, not. okay, that was just my own personal observation. well now, there is a real scientific study, it shows i'm on the right track.
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the national federation of state high school associations found 31,000 fewer high school football players in the 2018-19 season. the first decl[ne in 30 years. is the culture shifting away from injury-prone contact sports? i don't want to make too much of this. it is only a small decline, other tough sports like lacrosse are growing rapidly. there seems to be something about football that is turning kids and their parents off. i can't help but think of andrew luck, the brilliant quarterback, who dramatically announced his very early retirement. he couldn't take the pain that injuries and surgeries inflicted on him. he turned downs in future income because he didn't want to horrible around for the rest of his life. there is a message here. it ain't worth it. the concussion story rolls on. a sport defined by hard contact causes angst with parents.
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brain injuries? who needs that? ain't worth it. maybe there is an image problem too. at this moment in our culture, ultimate mass can lynnty is not promoted something to aspire to. maybe colin kaepernick and kneelers are turning away people from the sport. football has a problem. i don't see what can be done about it. it is a contact sport and always will be. it is aggressive, i define it, masculine and always will be. a week from thursday night i will watch my team, the packers play the bears. i bet on saturday morning, as many kidsç will watch english soccer as high schoolers playing football. there you have it. ashley: wow. stuart: this is the second hour of "varney & company". i thought it was one of these animation things. i made a mistake. brian kilmeade will respond to my take later this hour.
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now i can tell you more. asking him about this, unhappy colts fans booing andrew luck when news of his early retirement broke. we got that coming up for you. also ahead the 26-year-old from illinois, billing herself as anti-aoc. her name is catalina raul. what does she stand for? she is on the show next. generation z. the age group of the younger than millenials. a lot of them will be voting for the first time in 2020. we have a guest who says they are not as socialistically inclined as a lot of people think. hour two just getting started. ♪ we trust usaa more than any other company out there. they give us excellent customer service, every time. our 18 year old was in an accident.
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stuart: ladies and gentlemen, the yield curve is still inverted? the dow is still up close to 100 points. there you have it. 25,992 on dow industrials. where is the price of gold this morning up slightly. 1541. where is the bitcoin? still around $10,000. it is 10,151. our next guest, here she comes. she bills herself as the anti-aoc. running for congress in illinois. she is republican, only 26 years old. if she is elected, she would be the youngest person ever elected to congress. catalina ralf is on our show. >> thanks, stuart for having me. stuart: you bill yourself as anti-aoc candidate. if you're anti-aoc what are you in favor of, what do you stand for? >> i'm not anthony anyone. i'm pro america. if there is contrast, i'm
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fiercely driven by a love for my country. i'm not driven by a hate for everything it stands for, like aoc and like her friends on the other side. stuart: what kinds of policies do you favor? >> i'm a huge free market conservative. i think we should have a free market principles, socialism rhetoric on the otherç side iso detriment and so un-american, that we need to get back to a framework constitution stands. allowing. they want a climate plan. where do you stand on climate change? >> sure, i think, we need to talk more on the economy and in a broader sense. i think climate change should be addressed but, the, the policies
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that the other side are trying to implement, are completely ludicrous. i mean think about, the amount of money that they want to spend on, on that. just doesn't make sense. there are other policies that are way more paramount in importance. i think that millenials need to recognize that. stuart: now you are the lawsuit i believe of a legal immigrant. i think that is accurate in saying that? >> yeah. stuart: where do you stand on the whole immigration issue? because if someone like me said, look, i want something done about the 11 to 15 million illegals living in this i'm branded as a racist pretty fast. how about you? where do you stand about this. >> no. s racism talk has got toç end. because we want safe and secure borders. because there should be a process and, we should promote legal immigration, how is that illogical to ask?
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my mother, my family came here in a way that was respecting the laws. i think a lot of hispanic-americans agree who also respected the laws. stuart: catalina lauf. thank you very much for joining us. great pleasure to have you on the show. come back soon. we appreciate it very much. >> thank you, stuart. stuart: got it. remember the business roundtable. that is a group of ceos including tim cook, amazon's jeff bezos. they say profit should not be the main goal of public companies. they want to prioritize social responsibility. where does the average voter stand on this? we have a guy who has crunched numbers for us coming up, we'll give you the numbers. move over baby boomers, this year millenials take over as largest voting group bloc i should say. they are choosing a lot of things how we eat. details on that coming up as well. big show. here we go.
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stuart: consumer confidence strong. the yield curve still inverted. who cares? the dow is still up 100 points. we've been there for the last half hour. we have kfc teaming up with beyond meat. they will tis, wait for it, plant-based chicken. okay? beyond meat -- ashley: yum. stuart: how about philip morris? they have confirmed they're in discussions, they have had discussions with the altria group regarding potentially all-stock merger of equals. allaltria up, other guys down.
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that be quite a deal. johnson & johnson is up four bucks after the a judge in oklahoma ordered them to pay $500 million for helping fuel the opioid crisis. more coming up shortly. millenials will become the largest generation this year, surpassing baby boomers. they're changing the way we think about a whole line of products, food included. lauren simonetti joins us now. how are companies responding to the millenials? >> generation of 73 million. what the food companies are in some way, be a do good company to this audience. they like to eat small quantities of things, snacks. they also like to indulge. star kiss, the tuna people, they came out with a tuna fish with red curry coconut. stuart: do you cook it or squeeze it out? >> i think you squeeze it out or put it on your bread?
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ashley: tofu. >> you tried it? ashley: i like red curry. >> all right. he is not a millenial. sun maid the people. no added sugar. tiny boxes with different flavors. general mills cereal this is tough one, you might feel alienated if you're young and if you are heart healthy. they're going after the older generation. we see millenials eating breakfast for dinner. ashley: my boys like that. stuart: i'm an oldster. i'm a senior citizen. >> you like your brand cereal. stuart: my generation was not really that much into food. we're not. my children are all foodies. all six of my kids, they're foodies. ashley: when you grow up in england you will never be a foodie atç least? our era.
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meat and potatoes. >> maybe it is not a trend. the whole plant based movement with kentucky fried chicken it is big. stuart: i snack like a millenial. snack all day long. don't eat, fruit, crackers and cheese and tomatoes. ashley: nice. >> good snacks. stuart: stuff like that. occasionally burger. going to get sugar at 10:50. lauren, that was fascinating. >> how we eat. stuart: interesting to see i'm part of the millenial trend. >> look at you. >> something in common with them after all. stuart: show you video. it is good stuff. nypd released, diamond heist happened across the street from our studio. guys obviously in disguise. stole a million dollars. they're looking for the crooks obviously. this took place in broad daylight. we'll talk about the heist and video coming up. johnson & johnson, appeal five
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♪ ♪ hard days night and i've been working like a dog ♪ ashley: working like a dog. stuart: it's a classic. you know exactly what song it is. away you go. i like it. okay. do you remember president trump's state visit to britain earlier this year? you remember that one?
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well, queen elizabeth complaining about president trump's helicopter. tell me. ashley: absolutely outrageous. she is very upset, mr. trump one day landed marine one, two separate times on her lawn, which she prides a lot, buckingham gardens. stuart: get off my lawn! ashley: scored much it, created big divots, so much so the australian prime minister visited took him outside, look at my lawn. it is ruined. that particular area is the centerpiece of the queen's annual garden parties. now it has scorch marks and divots left behind by theç president's helicopter. there you go. stuart: you have the entire resources of the british treasury to fix your lawn. ashley: yes you do, mr. trump leaving his mark at buckingham palace. stuart: whose side are you on, ash? ashley: i think the queen can afford to do anything she wants. fixing some lawn is not a big
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deal. stuart: you're a diplomat. ashley: i think that is true. stuart: okay. ashley: she has got the money. stuart: okay. the dow industrials are up 73 points, the yield curve is still inverted. s no difference these days apparently. a survey conducted by the brunswick group, it found that people want, a lot of people want publicly-traded companies to be socially responsible. that is right in line with the business roundtable. they said be more socially responsible. don't dwell on profit all the time. the guy with research. robert moran, brunswick group partner. robert, run through the numbers. tell me how many people think that public companies should be more socially responsible? >> we went into the field with survey after the brt announcement, 80% of americans agree with the ideas put out in the statement from the brt. stuart: wait a minute, brt, business roundtable?
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got it. >> in d.c. people call it the brt. stuart: 80%? >> for the audience. this is the most important story you haven't heard about. soç 60% of americans heard something about the greenland purchase story last week. only 23% of americans heard about this story. in a nutshell the business roundtable, which is an association of american ceos came out with a statement that said, they wanted to deliver value to all corporate stakeholders, including shareholders. and that is, there is somewhat of a debate going on in the business community and theoretically for the past 30 years about, do you, have and only shareholder view of the corporation, where you maximize value for shareholder? do you have a stakeholder view where you maximize value for all stakeholders including employees, customers, communities, et cetera. it is somewhat of a false choice. we actually believe you need to put the customer first but the business roundtable came out with this.
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80% agreed with the statement. 68% of americans said they wanted to take the ceos at face value and, you know, see how they operate. so -- stuart: as things stand now, american corporations focus on profit. i think that will be true to say that. >> right. yes. stuart: i don't know why, people don't approve of that? is this, people take a negative view of the modern corporation? >> right. so the argument goes like this. say focus on maximizing value for the shareholder in terms of profit and value of the company. the other says that if you want to have a long-term license to operate in this society you need to take into account all of the views of a range of stakeholders, including the communities you operate in, your employees, your supply chain. and, et cetera. stuart: i've got a problem with
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that, it is my money. >> right. stuart: when i buy a piece of stock in a company i want it to make money. i'm putting my money at risk. i think i should be the priority. >> exactly. now what, what you have just raised is the fundamental debate between these two, these two ideas. shareholder value versus stakeholder value. the brt ceos, have said shareholders should be prioritized for value but within a much wider range of stakeholders. now, my reading of this is that these ceos are reacting to a couple things. they are reacting to generational shifts and ideas about capitalism and the market. they're trying to defend capitalism. they're looking at 2020 and at warren and sanders and thinking about how they sort of defend rhetorically against that. what they're trying to do is hedge a little bit to defend against warren and sanders,
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trying toúdlfend capitalism broadly in the united states. stuart: i have a minute left. i want you to tell me about lithium. lithium very important making batteries going into electric cars, a lot of other things too. you say chile is sitting on a gold mine of lithium. tell me more. >> you actually need to look at lithium, copper and cobalt. lithium and copper are dominated by chile. chile has 52% of the proven resources of lithium in the world. in fact 27% of all lithium reserves are in one valley salt flat in chile. just one salt flat. chile could become in time essentially the saudi arabia of lithium. and the saudi arabia of when we move to electric cars, the key strategic country with that mineral. stuart: that is fascinating. robert moran. you always come up with good stuff. that lithium thing was really cool. thank you, robert. we'll see you real soon.
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i am interrupting this. because we got a presidential tweet. a tweet about brazil's new president bolsonaro. here it is. i have gotten to know president bolsonaro well in our dealings with brazil. he is working hard with the amazon fires. he is doing great job for the peel of brazil. not easy. he and his country have the full and complete support of the usa i shall tag that byç reminding people this morning bolsonaro said no thanks to the $20 million that the g7 offered to fix the amazon fires. ashley: that's right. stuart: hence the presidential tweet. big story today in corporate world. oklahoma judge ruled johnson & johnson liable for fueling the opioid epidemic, ordering them to pay $572 million as a settlement. grady trimble is with us. this morning j&j said they are appealing. is that correct?
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reporter: that is correct. right after the judge made his decision attorneys for johnson & johnson called the ruling flawed. they said right away we will appeal this because throughout this seven-week trial they denied any wrongdoing causing the opioid epidemic in oklahoma or elsewhere in the united states. they reit raided that in a press conference after that judge made his decision yesterday. take a listen. >> we are disappointed and disagree with the judge's decision. johnson & johnson did not cause the opioid abuse crisis here in oklahoma or anywhere in this country. stuart: opioid lawsuits. what does this mean for other opioid lawsuits? >> it's aç precedent-setting ruling yesterday. there are 2000 cases that are about to go before a federal judge in ohio. those cases have been consolidated as one.
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he, that judge in ohio, has been pushing for them to settle outside of court. the question now is, does this ruling embolden those local municipalities, states, bringing lawsuits, taking them to trial, a ruling larger than a settlement would be. stuart: answer to that question is yes. grady trimble, thank you very much. see you soon. coming up we have a guest that says generation z, younger than millenials, generation z will be a crucial voting bloc in 2020. our next guest tells us what generation z wants. i don't know. new survey, finds millenials are far less patriotic than older generations. we'll get a reaction from a real patriot, pete hegseth, he loves america so much he got the constitution tattooed on his arm. ♪ i'm really into this car,
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get moving today! stuart: all right. we're holding on to a small gain. 70 points up for the dow industrials. 25,967. here we go. another presidential tweet. he is tweeting about those rumors about his doral resort in florida. here is the tweet. no bedbugs at doral. the radical left democrats upon hearing that it would be perfectly located for the next g7, doral national, miami, was under consideration for the next g7 spread false and nasty rumor. not it at that another presidential tweet. it really does. those voters will be 18 to 24 years old a lot voting for the first time. they said they're a very important group to target in the election. hanna blair,
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"real clear politics" opinion writer. hannah, you studied 18 to 24-year-olds, you studied them, what will they respond to? >> i not only studied them. i am part of that generation. i wrote the article for "real clear politics." i wrote that my generation we're overlooked and misunderstood, by people on right, we'll make up 1/10 of the 2020 electorate. young people always have a major influence driving culture. to understand t$ generation you have to look what shaped us, right? we grew up during the great recession and war on terrorism this was during our formative years which instilled instability and skepticism that remains with us today. as 2020 democrat hopefuls are pushing socially, fiscally radical proposals like reparations, free college, canceled student debt and 93 trillion-dollar "green new deal," open borders and so on, it is no wonder my
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generation is shifting towards the stability of conservatism. stuart: i always think younger people have socialist inclinations because young people tend to be idealistic. that was true of most of us when we were young. you're saying 18 to 24-year-old group is not socialistically inclined, not idealistic as older people. is that true? >> what we have to realize is that, you know, there are con i can flicking polls out there, conflicting studies showing what gen-z actually believes. polls say gen z favors socialism. the left has done a good job stigmatizing conserveativism and capitalism. gen z are digitally native generation. they have been bombarded withç volumes of digital information before they even learn to talk.
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they are experts filtering out disingenuine messages. they are rejecting platforms that push false narratives, fake news. they are turning towards social media platforms that allow them to create their own content, right? like ticktock and snapchat. only 9% of them use facebook. which pushes fake news. so they, they're not giving in to the fake news of socialism. they know how to do their own research. and once they look beyond the label of socialism and get beyond the labels they are actually able to use their own discernment and they may like the word socialism but their principles are more fiscally conservative. stuart: us taxpayers are pleased to hear that you don't necessarily want free stuff. hanna blair, thanks for joining us many i'm sure we will see a lot of you in the future. >> thanks for having me. stuart: next, brian kilmeade. i'm asking him, what i was talking about at the top of the
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hour, our editorial, are youngsters playing less football, and they are, because they're more likely to get hurt. we're asking brian in just a moment. ♪ there's a company that's talked to even more real people than me: jd power. 448,134 to be exact. they answered 410 questions in 8 categories about vehicle quality. and when they were done, chevy earned more j.d. power quality awards across cars, trucks and suvs than any other brand over the last four years. so on behalf of chevrolet, i want to say "thank you, real people." you're welcome. we're gonna need a bigger room.
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all right brad, once again i have revolutionized the songwriting process. oh, here we go. i know i can't play an instrument, but this... this is my forte. obviously, for auto insurance, we've got the wheel route. obviously. retirement, we're going with a long-term play. makes sense. pet insurance, wait, let me guess... flea flicker. yes! how'd you know? studying my playbook? yeah, actually.
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stuart: the market story of the morning is, stocks are still up even though we still have an inverted yield curve. doesn't look to make much difference these days. ashley: none. stuart: joining us live on the radio, brian kilmeade, host of the brian kilmeade radio show. brian, bear with me for a second here. we have a new presidential trump tweet. here we go. the g7 was a great success for the usa and all lame media coverage brian i'm inclined to agree with the president, how about you? >> everything i read is 100% right. for example, i go on drudge, i see this story, says macron tames trump. i'm thinking where did this come from. let me see what the point of view is. the whole story is how macron went out of his way to make sure the president achieved his objectives. he said can we meet one-on-one without staff? they did. this meeting went on three hours.
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both feel like they gained from it. listen when it comes to climate change, i get that is not your thing is trade. i'm worried about iran situation. i asked the foreign minister stop by, if i can work out something? sure. he is not taming trump. he is working with trump. he is the host. what do you want him to do? okay you can host the g7? that is what he is for. macron has nicer suits of the he is a little bit younger. the president got the better country with the better economy and better military. i will take that tradeoff. stuart: that says it all. talk sports with you. at the top of the hour i had an editorial 31,000 fewer high schoolkids are playing football than in last year. it is the first decline in 30 years. i think it is because itj5ñ a contact sport and parents and kids are afraid of injury. what say you? >> well overall, sports participation is down slightly
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from 43% to 38%. i think we discussed that in real life. i'm not sure if it was on television. i don't think i know the difference anymore but i do think this, kids are getting distracted to do other things, couple things. coaches are getting way too serious. i brought a team, i was with my daughters and son's team in england. i was amazed no parent showed up to any game. the kids doing goals down themselves. they went to the clubhouse where parents pick them up in the end. in america, not only do parents come, they stay. they talk to coach about playing. after a while big push on television you have seen commercials, you have 8-year-old kid retiring from sports because of the pressure put on him. number two is the price. things are getting very pricey for those in club sports. got to write a 3,000-dollar check. if i tell my parents i need $3,000 to play soccer. congratulations you're not playing soccer. play in the front yard. it would have been impossible to
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play. when it comes to football, a lot of publicity about head injuries, real or not, concussion protocal gets parents worried. they can compete but they don't need to necessarily put their kids in jeopardy. stuart: what do you make of the indianapolis coltsç priest sean game where andrew luck was booed because of early retirement? that is absolutely i think out of bounds. the young man is entitled to make the decision he made. that is a good one. that is where i'm coming from. >> 29 years old, lacerated kidney, separated cartilage of his ribs. torn labrum of his throwing shoulder. he had a problem with his ankle. going through rehab last three or four years. i don't want to do it anymore. he got a 15 million-dollar payout. he was looking at 500 million. this guy, andrew luck who is intellectual. he went to stanford. he is as curious as anybody. almost as if football got in the
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way of his science degree. he does not want to play anymore. he loved the sport but can't take rehab. what happened, the indianapolis fans find out because of adam schechter breaks the story before finding out. they started booing this point in the preseason. get a perspective. he is given everything to the franchise. we're on kaepernick for taking a knee. we're upset about certain things that happened in sports with megan rapinoe. we're mad when athletes decide they don't want to go to the white house. take a knee with the national anthem. what about a fan code of conduct? you also have to show some class. stuart: yes. >> it goes both ways. stuart: itç does. >> just because you pay a ticket, doesn't mean you have to act rude. that is exactly what i was witnessing on a state which is known to be nice, i still say they're the nicest people in the midwest, indianapolis especially. that was no class. you owe that guy an apology. stuart: three subjects, 100%
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agreement on all three between varney and kilmeade. unbelievable. go down in the annals of history. >> never happened. stuart: did today. brian, thanks very much. see you soon. got it. >> thanks for having me. stuart: we'll talk to one of our market watchers who says it is time for the fed to lower interest rates to near zero. he will make his case. he is a famous guy too. plus, judge jeanine pirro has a book. she says the left is trying to remake america all because they're ticked off that president trump won the election. i think she's right. i want to know more about this one. judge pirro coming up. "wall street journal" doug through sanders climate plan, it will truly surprise you. trillions of dollars to earmark, for example, weatherize and retrofit small businesses to help families buy a new electric car. can you believe this? i think it makes him unelectable frankly. my take is next.
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options and rates to fit your needs oh, and happy birthday... or retirement... in advance. stuart: no wonder the democrats canceled the candidates' debate on climate. just take one look at bernie sanders' climate plan and you'll see why the party bureaucrats are so alarmed. it's not much different from aoc's fantasyland green new deal. in 2020, if they run with this plan or anything remotely like it, they lose. now, i'm indebted to the "wall street journal" which read all of bernie's plan. here are some of the highlights. all power generation and all transportation must switch to renewable forms of energy in 2030. only ten years away. all got to switch. no coal, no oil, no nat gas, no nuclear power. gee, wouldn't energy prices go
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up dramatically? that's what you'd think, right? no, says bernie. after 2035, electricity would be quote, virtually free because it's provided by the sun. and the wind. and all the people working with fossil fuels, out of a job? no, says bernie. they will be transitioned to this brave new renewable world. besides, he says, his plan will end unemployment by creating 20 million jobs. let's get to all the spending his plan requires and by the way, it is your money that he will be spending. $2.2 trillion to weatherize and retrofit small business. $2.2 trillion. $2.1 trillion for switching to electric cars. i would love a tesla so long as someone else pays. $527 billion for free universal school meals and to expand food stamps. what's that got to do with climate? i don't know. here's a real doozy.
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$36 billion to help people transform their lawns into food-producing or reforested spaces. look, i could go on. consider the $16 trillion price tag. this economy-destroying pie in the sky dreaming will be paid for by you. this is the kind of plan being seriously proposed by the progressive wing of the democrat party. which is now gaining traction. my conclusion is this. the frontrunners are unelectable. the moderates are desperate. they are losing control of the party. the climate warriors, the socialists, are leaving them over the electoral cliff. the third hour of "varney & company" is about to begin. ♪
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stuart: i said that many times. every picture tells a story. why are we playing that? not because of my editorial. we will get to that in a moment. we are playing the song for mark grant, who is with us on the program today. this song is in your note this morning. you topped your daily note with that song and you related it to interest rates. give me the story, please. >> people don't understand what has actually happened in the world. they want to blame inverted yield curves, they want to talk about what investors are doing. the fact that we have $17 trillion in negative yielding debt is caused by one thing and one thing only and it's by the nations of europe that have directed the ecb, the ecb has no
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independence like the fed does. they have directed the ecb to make pixie dust money which they have. they have $1.2 trillion more than the fed and they're spending it buying sovereign debt and corporate bonds in europe and that's driven yields, for instance in germany, they have negative yields from zero to 30 years and most of the other european countries have negative yields, five years and in, and the fed, who is the central bank of the united states, not the central bank of the world, is going to have to respond so i would say every picture tells a story, you have to see clearly what it is, and the fed's got to lower interest rates close to zero to respond to this, in my humble opinion. stuart: your opinion is never humble, mark. but it's often right. >> thank you, stuart. stuart: that's okay. tell me about these negative interest rates in europe. you have been writing about this for a long time.
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my question is, is it working? i presume they are doing this, a, to pay for all their social programs which they can't otherwise pay for, they are just printing money and b, they want to stimulate the economy. is it working? >> the first part, it's working, stuart. their interest rates in europe, switzerland, the european union, even japan, are incredibly low, way lower than the yields in the united states which is almost unreal, and the reason is because they keep buying up all the debt with this pixie dust money, so that part is working. their interest rates are just off of zero, 1%. matter of fact, today, i don't see it at the exact moment but the ten-year treasury in the united states is 1.5%, 1.51%, and i think it's going lower because all the european money managers and everyone in europe is buying up american debt so i think no matter what the fed does, our interest rates are going lower still, which will
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help borrowers of any sort, obviously, but it puts a great deal of strain on savers, retirees and pension funds and i think eventually we will get into some kind of crisis where we see pension funds going bust and people that are retired screaming that they can't get any yields. stuart: i was thinking of retiring, but i guess i'll stay working. keep the cash flow coming. know millenial hater, keep going. stuart: i didn't know you watched the show as well, mark. i will be very careful what i say. >> yes, i do. yes, i do. stuart: mark grant, you're all right. see you again soon. thank you, sir. appreciate it. >> thank you, stuart. stuart: couple of stocks want to look at real closely. uber and lyft. there's a new report and it says these two companies are pocketing more money from drivers' fares than they have been reporting. uber said they were only taking 21% of a ride's fare. lyft said it was 26%.
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this report found on average, uber took 35% and lyft took 38%. both stocks, up this morning. there is some good news for lyft, though. analysts at guggenheim are saying they will be able to turn a profit in just two years. they are raising the price target for lyft to $60 a share. which i think would still be below the ipo price. how about grub hub and dine brands. they are partnering to offer delivery to more than 3,000 ab wi applebee's and ihop locations. this is more of the delivery wars which are not going away. let me recap my editorial. the presidential frontrunners on the left are in my opinion, unelectable. the moderates desperate. the climate warriors and socialists are leading them over the electoral cliff. more on that. we have a new study claims millenials care less about patriotism, we lidreligion and
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as previous generations. what does capital america, pete hegseth, think about that? he's on the show next and we'll ask him. ♪ 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?
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stuart: bernie sanders, he wants to revive what he calls real journalism. he's going after facebook and google. deirdre? deirdre: i feel like i should sing a little tune from cher, if i could turn back time. that's what he's trying to do. no, please don't. he's trying to block future media mergers, bring back old fcc rules that limit newspaper and tv ownership in the same market and tax google and facebook because they have gobbled up all the ad money that used to go to newspapers. that is what's happening but i
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think that's just the modern evolution of the industry, and the only way to try to curtail that is to bring back old regulations but they are foerld a reason. they are out of date. he's trying to drag everybody back a couple decades. stuart: a reactionary? i don't know about that. don't say that, stuart. still on bernie, i know just the man to respond to my editorial about bernie's mammoth $16 trillion climate plan. pete hegseth, who else. "fox & friends" weekend cohost. you saw my editorial. you heard it. $2.1 trillion for families who wish to switch to electric cars. you would love a tesla for free, wouldn't you? >> for free, sure. yeah. know what? you just talked about turning back time, you said it properly. that's precisely what he wants to do. find me one scenario where these ideas have ever worked. listen, if the market wants to move toward renewable energy, great. we all want a cleaner environment. that's a good thing. but when you force it on people
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with government intervention, of course you make people's lives worse, you make things more inefficient and people's lives tangibly get worse. i go to the gas station, i drive my car that i choose to get from a to b and you are telling me by 2030, you are going to get rid of all of that? it's pipe dream lunacy. the problem is he really wants to do it. he's the frontrunner of the democrat party. stuart: surely he knows people will not vote for this or am i out of line here? i can't see people voting for this. >> they won't, but in his mind, good intentions matter better than good results. so capitalism is evil because of profit and profiteers. i care more about you and want to give you free things, therefore, i'm better than the other side. except as history shows us, i've got more prosperity in this iphone given to me by capitalism than anything socialism has ever given anybody. problem is, young kids coming out of colleges are being baptized in these views. these are socialist world views
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so they like it and are tempted to be for it. stuart: you don't even have to wind up pete hegseth. just put him on and off he goes. he's pretty good, i've got to say. here's another one for you. got this new survey. "wall street journal" says millenials, far less patriotic than older people. 80% of those 55 or older, they think patriotism is important. only 42% of millenials. explain that. i can't. >> i can. i mean, first of all, as you get older, you get wiser, you learn the ways of the world and learn what really matters. things like flag, things like faith, things like family, that you discount younger in life because you've got fantastical ideas about whatever's been pumped into your head. this all goes back to education. it really does. are schools saying the pledge of allegiance? are we teaching civics and economics? if we're not, think about it, earth day is usually celebrated more actively and vibrantly at elementary and junior high schools than veterans day, than any other patriotic holiday on the calendar because we can't
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talk about jingoistic or nationalistic to talk about the flag so we will talk about recycling. that creates a bunch of people obsessed with climate change and not willing to stand for the values america has always stood for. it all translates. abraham lincoln once says the philosophy of the school room in one generation becomes the flows philosophy of government in the next. that's what we are seeing. it's not just the ivory towers of the ivy league. it's your local high school captured by washington, d.c. left wing interests and they are ramming it down their throat. by the way, we removed bibles from schools a long time ago and wonder why we don't understand the cultural narrative of the western civilization which is the bible. stuart: you are absolutely right. i have one more for you. i can wind you up on this one. beyond meat, you have heard about beyond meat. >> yes, of course. fake meat. stuart: they are partnering with kentucky fried chicken, kfc as they are now known, to do fake chicken. they are going to test fake chicken.
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now, i saw you on "fox & friends" this morning grilling up a cheeseburger. so i presume you are not very much in favor of this. >> i was hoping you would address me as the "fox & friends" world champion of grilling which i did achieve this morning. ashley: congratulations. stuart: what a title. >> it is the title, they gave it to me so i'm going to keep it. you think bernie sanders is jumping the shark? chickenless chicken? kfc without chicken? what is it? stuart: i don't know. plants. plant-based food. >> plants. i would start a garden and i would eat plants. i want fried chicken. stuart: you are saving the planet. didn't you know that? go to plant-based food, save the planet. come on, hegseth. where you been? >> forget about the planet. i want good fried chicken. i'm fine with chickens caged. caged or cage-free, either way. stuart: it was the 101st
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airborne, wasn't it? i will never make the mistake again. >> i know you won't. which we used to call the chokin' chicken. brings it full circle. stuart: what do you do after this? go take a nap? >> i go have a cheeseburger. stuart: you are a great guest. we prsappreciate you being on. all right. while we're at it, check the price of gold. why not? hegseth, gold, bitcoin, why not. gold -- bitcoin, bitcoin is down $171. sorry about that. you're still holding. $10,137. have we got the price of gold? yes. $1549, it's up 12 bucks as of now. we are watching the price of oil. that's still hovering around $54 a barrel. $54.10, to be precise. look at gas. down again. the national average for regular is $2.58 and falling as we speak. eddie murphy back on "saturday night live."
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he's going to host the show for the first time since 1984. of course, we will tell you when in a moment. first, though, the highest paid woman in music no longer beyonce. in fact, this person made $100 million more than beyonce. ashley: wow. stuart: we will tell you who it is in a moment. ♪ we're carvana, the company who invented
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♪ stuart: i know this. i've got this. i've got this. okay. that's taylor swift, of course. she released her latest album last friday. she's the highest paid woman in the music industry. she beat out beyonce. ms. swift took in $185 million over the past year. that's thanks to her recent stadium tour. compare that to beyonce's $81 million, rounding out the top five rihanna, katy perry and pink. now, we are still talking about taylor swift because you can catch her on the newest season of "saturday night live" premieres next month along with eddie murphy, who is making a
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long-awaited return. deirdre: he is going to host apparently on december 21st which is a big show for that show, right before the holiday season. but the first one since 1984. if you watched at that time, you may remember he had a bunch of famous characters, mr. robinson's neighborhood, buckwheat, gumby. he had a lot of hits that ended up feeding his big screen career. he went on to do a lot of movies which actually, i think he's on "snl" to promote if i'm a cynic. he will probably sign a deal with netflix worth $70 million, if i'm correct. chris rock had one that was $40 million for two episodes. dave chappell, $60 million for three episodes. it's not quite clear if this is signed between eddie murphy and netflix, also not clear if he's going to do two or three or four episodes. but $70 million is the number being talked about. some of his peers have gotten it for two or three episodes. stuart: big number.
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what's this about coming to america? i remember that movie. ashley: back in 1988, 31 years ago, they are making "coming to america 2." if you remember in the original, murphy plays this african prince, comes to new york city to escape an arranged marriage. in this one, he's poised to become the new king of his homeland when he finds out he has a son in new york, so he comes back to find his son. tracy morgan will be in it. leslie jones, who is terrific, from "snl" will be in it. it's going to be very good. stuart: eddie murphy back in the headlines. we'll take it. now, then, what do we have next? we have a mystery guest. a mystery guest coming into the studio shortly. someone who works closely with all of us. he will join us momentarily. stay there, please. ♪
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- in the last year, of cybercrime every second. when a criminal has your personal information, they can do all sorts of things in your name. criminals can use ransomware, spyware, or malware to gain access to information like your name, your birthday, and even your social security number.
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- [announcer] that's why norton and lifelock are now part of one company, providing an all in one membership for your cyber safety that gives you identify theft protection, device security, a vpn for online privacy, and more. and if you have an identity theft problem, we'll work to fix it with our million dollar protection package. - there are new cyber threats out there everyday, so protecting yourself isn't a one time job, it's an ongoing need. now is the time to make sure that you have the right plan in place. don't wait. - [announcer] norton 360 with lifelock. use promo code get25 to save 25% off your first year and get a free shredder with annual membership. call now to start your membership or visit stuart: now we have turned south for the market, down just 20 points, but the reason for this is really interest rates. so look, ash, you've got your computer open. give me the yield on the
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two-year. ashley: the two-year is 1.526%. stuart: the ten-year? ashley: 1.483%. it stayed inverted all morning. stuart: now it counts for something, because rates are falling so sharply. ashley: they are. stuart: 1.48% on the ten-year? ashley: check out the 30-year. 1.96%. going down and down. stuart: that's an historic low or very close to it. to me, the bottom line here is that the sharp drop in interest rates that we have just seen in the last hour or two, that's kind of upsetting the market. but the bright side is when we report mortgage rates, we will have real good news to report. ashley: certainly hope so. stuart: i think we will get to 3.25%. ashley: also screaming to the fed make sure you cut rates. stuart: exactly. make sure you cut rates. you got to do it. let's get to our mystery guest. he's not on the screen yet. deirdre: it's not kim jong-un. stuart: officials in china, that's him. there he is.
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officials in china say they don't know anything about those phone calls that president trump mentioned over the weekend, offered to rekindle trade talks. get your head out of that phone, young man. you're on. >> i'm looking at the latest. the latest is yes, the chinese, spokesman for the chinese foreign ministry saying they don't know anything about the phone calls this past weekend. however the deputy level, they talked last thursday so there were phone calls and they are ongoing calls. there is supposed to be a call between the premier, vice premier and the u.s. trade representative today or tomorrow. that's coming soon. stuart: as i understand it, the chinese foreign ministry said the u.s. needs to stop all wrongful actions, i think they said that, and they are pushing back against us, saying we are the instigators of the dispute. so they are taking a harder line in response to president trump at the g7. that about right? >> that's about right. that's what's been happening. every time we push, the chinese push back using tariffs, using other measures to push back against us within the country
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there. so yeah, that's exactly what's happening. they are not backing down. they are not coming to the table. they are waiting for us to make phone calls and say hey, come talk with us. so they're not really reaching out. it's kind of a stalemate at this moment. they are waiting for something, some sign, i think. stuart: i've got to think xi jinping is in trouble with his politburo which is split. >> the economy in china is in trouble. it's a global game of economic chicken. china's economy falling south, can it fall fast enough to where they will come to the table and say we need something. stuart: this is a headline-driven market. as soon as you guys get a headline, report it, the algorithms kick in and the market is -- >> that will be the next, there will be a phone call and they will set up face-to-face meetings. the 13th round in washington, d.c. in september. stuart: edward, thanks for being with us in new york today. you do great stuff for us. we appreciate it. let's bring in dan clifton, an analyst at strategas.
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i read your stuff. you are saying it's not russia that's going to interfere in the 2020 elections, it's china. make your case. >> yeah. so sometime in mid-april of this year, the chinese just made a decision they can wait president trump out, that they weren't going to do a deal, and they basically took a very good trade deal that was 90% agreed to and pulled that back. so their belief is that by not doing a trade deal, there can be greater economic pressures that will make it harder for trump to get re-elected. that's what's causing some of the strain. i wouldn't blame it all on the chinese. i would say the federal reserve has to respond to what you're seeing in the inverted yield curves as you just referenced and be able to cut rates, provide the liquidity, because ultimately, the chinese are devaluing their currency, the dollar is strengthening and manufacturing is beginning to weaken here. so we need to see some offset from u.s. monetary policy. stuart: i think the market's
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putting pressure on the federal reserve and saying hey, look, with the yield on the two-year treasury at 1.55%, or no -- yeah, 1.52% at the moment, the market's saying hey, you, the fed, lower rates and do it right now. that's what they're saying, isn't it? >> that's exactly what they're saying. the fed is too slow of an institution to respond to all this. the effective fed funds rate is above where we think inflation's going to be over the next five years. bad things happen to the economy if it stays there. stuart, the good news is that we can just lower the fed funds rate, put it back below where expected inflation is going to be. all it does is require a tweak from the federal reserve. they should do a 50 basis point cut to make sure that we're there. the fed chairman has been unwilling to move at that speed. stuart: outside of the fed and interest rate argument, talk to me about the trade war, the trade dispute with china. you think it's not good for president trump in 2020. >> well, there's now bigger risks to the president, right. the president came in and said i promise i'm going to get a
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better economy. he deregulated, he cut taxes, he had a very stellar economy in 2018, and the bond market is sending a signal that there is some weakening signs here. some of it is global, some of it is here in the u.s. domestically. so what we are starting to see is the bending markets which are not predictive, but they are starting to favor the democrats as the favored to win the election. so the president needs some sort of better economic news to reassert that or he's going to be in trouble no matter who the democratic candidate is. stuart: as we look towards 2020, what do you make of this poll that shows bernie sanders and elizabeth warren in a dead heat, and they have actually beaten out joe biden? joe biden is really fading. what do you make of that? >> listen, stuart, i think this is a big story. the betting odds now place elizabeth warren as the overwhelming favorite over joe biden. you see joe biden who lacks vision, falling in the polls. warren who is building a movement, 15,000 people in
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seattle this week, gaining momentum. i don't think it's going to be immediate in all the polls where you see this. as we get closer to iowa in february, she's got a lot of the momentum right now. the challenge for warren is she's got to prove that she can beat trump. if she can prove that, she will start taking some biden voters away. stuart: tell me that again. you are telling me the betting markets, the gamblers, the bookies, they are saying elizabeth warren is now the overwhelming favorite to take the democrat nomination? really? >> last night she cracked 30% in a crowded field. joe biden was at the lowest level since he entered the race at about 24%. now, that may have changed throughout the course of the day, i haven't looked at it the last couple hours. but it was a clear decisive move in the betting markets, where they are taking a forward-looking view, thinking that warren is now the favorite to be the democratic nominee. stuart: buckle up. it's going to be a wild ride. dan clifton, good stuff. thanks for joining us. >> thank you. stuart: next case.
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irs scammers. they've got a new way to poach your information. not by phone anymore. what are they up to? deirdre: e-mail which is really dangerous because we are all so used to communicating by e-mail and it's become such a big part of our lives it doesn't necessarily stand out as the incorrect thing that it is. officials are warning taxpayers this month if you get an unsolicited e-mail from the irs, it's not from the irs. in fact, the irs will never, they say, a lot of these officials, they will never reach out to you by e-mail, text message, social media or by phone. basically, they will mail you a bill. if you owe the government money, you will hear from the government and it will be in your mailbox. it will not be from any of these other ways. this is concerning. i actually got a phone call saying your social security number may have been compromised and the tape sounded very official so just be warned. if the government needs to get in touch with you, it will find you via your mailing address. stuart: that's one good use of the postal service. it's a good one, too.
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interesting. thank you. next case. former patriots tight end rob gronkowski, the gronk, i believe he's called, hopping on the cbd band wagon. ashley: announcing a new partnership with cbd medic, which provides topical products that contain cbd which is considered a pain reliever. by the way, cannabis of any kind including cbd is banned in the nfl. gronkowski said when he left football, he said i was not in a good place, i wish i could have had cbd to relieve the pain when he played. he said i needed to recover and i would have welcomed something like this that would have been available but there you go. the latest person to get involved in the business of cbd. it's the extract that does not contain any thc which gets you high. this is considered something that can really help with pain relief, joint pain and even epilepsy. stuart: the gronk likes it. it's not the gronk. it's gronk. ashley: gronk.
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stuart: new york city's diamond district is right across the street from where i'm sitting right now. in our studios in new york city. we were just hit with a diamond heist. looks like it was straight out of a movie. millions of dollars, stolen. police obviously looking for the crooks. you will see the heist. we have it on tape. you will see it in just a moment. first, judge jeanine is out front slamming the democrats in her new book. she says the left is trying to remake america and they are still not over president trump winning the election. she makes her case next. ♪ liberty mutual customizes your car insurance,
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stuart: that's what it says. i'm supposed to say that. kanye west, diamonds, the song, sound track fit for the next story. big-time diamond heist right here in new york city. close to us, actually. deirdre? deirdre: yeah, it was a wild, wild west right here in midtown. we actually have video to show you. you might see one of the accused bandits who actually had a cowboy hat on. there is that person. so three armed bandits at the very least, basically tied up workers, put them in kind of a back room and made off with a lot of diamonds. so the authorities are still looking for the perpetrators, the alleged thieves. 2014, by the way, the same store actually suffered a break-in as well. 53,000 stolen. stuart: you have to say alleged when they have three guys ripping off a couple of guys in a diamond store? deirdre: we don't know their
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identity. stuart: allegedly they took some diamonds. in broad daylight. deirdre: around noon on sunday, 47th street. stuart: highly unusual in the well-guarded diamond district. deirdre: i was just going to say, the surveillance camera and all the footage is hopefully going to help. stuart: let's let the judge make an official entry to this show. she made a temporary appearance, reading my script. our next guest says the left, the socialists on the left have got a mrplot to remake america because they are still ticked off the president won the election in '16. the book is titled "radicals, resistance and revenge" by none other than -- the left's plot to remake america, she points out to me. you've got some nerve. you really do. >> that's why we're on television. talk about that heist. nou wh you know what amazes me? it's right down the street. when i came in yesterday, there were cops all over the place.
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it was buzzing. this store was open on a sunday which is very unusual. there aren't a lot of people. you can actually park your car on 47th street. they can be waiting for you, you can jump in the car and take off but they are very brazen. you can see the face. sure, he's probably got a wig on, probably got a hat on. we now know how tall he is based upon the comparison of him to the cabinets. the other guy we see, we are going to get these guys. make no mistake. anyway, that's my law enforcement talking. i love that stuff. stuart: i should say the alleged thieves. i should, shouldn't i? >> they're thieves. not alleged. once we get their names, they're the alleged thieves. alleged johnny jones. but they are thieves, period. take it from me. stuart: i will take it from you. >> now let's talk about my book. stuart: wait a second. i agree with you. because all this stuff we are getting from the left, the name calling, the undermining, all the rest of it, i think it's because they just can't get over
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the loss of the election to donald trump. that's motivating them. >> what's the word? stuart: revenge. >> that's exactly what it is. their hissy fit has turned into revenge. they have resisted everything he's done. they are radicals. this is far beyond barack obama. these are people who want to upend the constitution, the bill of rights. you are no longer presumed innocent if you are a candidate or nominee for the united states supreme court. you are no longer allowed to be believed that you are a man. listen, a united states senator, hirono from hawaii, i don't know where this woman got educated but all women need to be believed. i ran a d.a.'s office. i believe a lot of women. i fought for women. but not every woman needs to be believed. there's a judgment we all make all the time in terms of prosecuting but more than that, they got to the point where their remaking america is opening the border which is allowing 90% of the heroin to come into this country.
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the sanctuary cities are allowing illegals and i'm not talking about the chambermaid or the guy who is mowing your lawn, illegals who are criminals to be in a city where american citizens are at risk. they are now talking about someone giving birth to a child. what about life, liberty and the pursuit of happiness? no. if i'm a mother, i give birth to a full-term baby and that baby is born and born alive, she can give the thumbs up or the thumbs down like an emperor in the roman coliseum as to whether or not that baby lives. that's what ralph northam, that bozo from north carolina, who admitted he was a whackface, the governor and then said it wasn't him. he's still in the governor's mansion. stuart: virginia. virginia. care phful how you use those wo. >> which words? stuart: i'm not going to repeat it. >> here's the bottom line. they are remaking this country. millenials are learning things differently. they think socialism is good and capitalism is bad. so it's the economics, it is
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the -- it's the verbiage. you are not allowed to speak. in san francisco, they have got human feces, dirty needles, people living on the streets, tent city, and they say so what should we do? let's change the lingo. now a convicted felon is someone who is a formerly -- someone justice-involved person. a jip. the only jip is on the rest of us. stuart: hold on a second. when can i catch more of you on the fox news channel? >> well, tomorrow, i will be on "fox & friends" in the morning but my show every saturday night. stuart: you are up real early? >> i love to work. i do. that's why i wrote this book. with the first book, it was about the department of justice and the fbi. and the corruption at the top. this is a step back where i look at america and i say it's the whole thing they are trying to change, not just the justice system. shame on them. stuart: you have given me a free copy, autographed it. inscribed, not autographed.
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seriously, judge, love your writing. love your show. thank you very much for being with us. >> i love hiveng to ylistening . i love your accent. stuart: i'm an american. the president will be tweeting about you any moment. thank you, judge. now this. our next guest says the economy -- to get the economy really going, to get it really going, we need more tax cuts. who said that? scott walker. he's next. ♪ from the couldn't be prouders
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it's tsleep numberbiggest sale360 smart bed.n the you can adjust your comfort on both sides your sleep number setting.
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can it help us fall asleep faster? yes, by gently warming your feet. but can it help keep us asleep? absolutely, it intelligently senses your movements and automatically adjusts to keep you both effortlessly comfortable. so you can really promise better sleep. not promise... prove. and now, all beds are on sale! save 50% on the 360 sleep number limited edition smart bed. plus 0% interest for 24 months on all beds. only for a limited time. stuart: the white house is engulfed in a will they or won't they over a payroll tax cut. our next guest says we need some kind of tax cut to kick-start the economy. look who's here. scott walker, former wisconsin governor. governor, let's be honest here, sir, you're not going to get any kind of tax cut before the next election, are you? >> no, but i think it's worth pushing out there. i mean, it's one of those where we found in wisconsin, we cut taxes by over $8 billion and we have seen more people working
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than ever before in the history of the state and, and get this, we had a budget surplus every year we were in office, all eight years created a budget surplus, why, because when you put more money back in the hands of the hard-working people in your state and the country, they put it right back in the economy. stuart: it works, clearly. i'm wondering how on earth you get one in the immediate future to kick-start the economy. but i really want to move on to a much more important subject, and that's wisconsin. a dairy state which leads the nation in farm bankruptcies. i didn't know that until i read the notes here. now, a dairy state in that kind of trouble? what's the problem? >> well, it's been a number of issues and it's been true for the last few years. part of it's just the simple fact that wisconsin has one of the highest percentages of very small farms, so over the last decade, they have had some real challenges. but you also see it ties into this trade debate. a couple years ago i made the point to president trump and he really held out on this trade deal with canada and mexico until they fixed this.
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under nafta right now, particularly in ontario but all throughout canada, they put in place price controls, they give an unfair advantage to canadian dairy farmers over, say, wisconsin or other dairy farmers across the united states. that's one of the things that's in this new trade deal and that's why i really hope for that and a whole bunch of other reasons, speaker pelosi will allow the house to bring the bill up hopefully within the next month, because dairy farmers not only in wisconsin but across the nation need the new better trade deal we get with canada and mexico once they pass that. stuart: so the fix for dairy farmers is in the usmca which replaces nafta. it's in there already? >> exactly. it's a big part of it, because if you look at wisconsin and you look other places but particularly wisconsin, the price of milk has been a big challenge. part of that right now is the fact, in fact, we had a few years ago a number of dairy farms went out specifically because they were previously providing what's called ultra-filtered milk, a special kind of milk, to folks related
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to canada. they cut that off because the price controls pushed the price down in canada and that had an ill effect on dairy farmers right here in wisconsin. stuart: what about almond milk and coconut milk and the other kind of milks that are out there, plant-based, nothing to do with a dairy farm, they are a real challenge, aren't they? >> they are a challenge. the other big challenge, particularly for millenials, i have two of my own, 25 and a 24-year-old, is fewer and fewer young people are eating cereal in the morning and that has an impact on dairy farms. as odd as that sounds, it's actually a fact out there. we need more people eating cereal. that will help certainly dairy farmers. eat more cheese. all those things help along the way but in a global market where milk prices are down it's a big challenge when you've got any state, particularly the dairy state like wisconsin. the good news is we are going to get this trade deal passed. we are going to get other trade deals passed. and those will all help farmers not only in wisconsin but across the country. stuart: it will be great to see that. scott walker, former governor of the great state of wisconsin,
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thanks for joining us, sir. see you again soon, promise. >> thanks, stuart. stuart: take a look at papa john's pizza operation. the stock is up nearly 7%. they named arby's president robert lynch as their new ceo, and this is a pizza chain, they've got a partnership with the nba star, shaquille o'neal, and by the way, shaq will be on this program tomorrow. deirdre: he's probably going to have to duck coming into some of our rooms here. he is a tall guy. ashley: like 7'2". will he be in studio? stuart: he's in the studio? yes, he's in the studio. he will be sitting right there. ashley: wow. stuart: we will have a special set built. there's a man who has made a great impact in the commercial world. ashley: he has. stuart: he's done commercials for a lot of different companies. always good. they are quality commercials. ashley: got a good sense of humor. which always helps. deirdre: we have to line up some electronic dance music.
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that's his fave. not kidding. stuart: okay. don't expect me or ashley to be dancing here. all right. ashley: don't tempt me. stuart: you're not going to be tempted. more "varney" after this. ♪
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stuart: now we have a couple of guys with british accents will talk about the queen of england. why? because she complained about president trump's helicopter. ashley: i'm not amused. queen victoria was never amused. now the queen is never amissed. president trump landed twice during the state visit and it left big divots and ruined my lawn. >> she was joking to the australian pm. i think ruined her grass but i, it doesn't seem like she was
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legitimately annoyed. i don't know, you guys have the insight. stuart: no, we don't. i don't think she was that annoyed. ashley: she has enough money to fix it. >> stuart: he didn't land onç the flowers. he landed on the lawn neil, take it away. neil: we're selling off here. what is very interesting about the developments. this is tick by tick based on trade. we have abusive relationship on trade issues. any whisperings show things looking positive in that direction stocks go up. any musings from the president, temper tantrums, stocks go down. we have to get over this. we're not getting over this. we're on top of this. we're on top of interest rates sliding. markets are convinced the latest impasse chinese calling into question the statement that the president made that


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