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tv   Varney Company  FOX Business  August 3, 2015 9:00am-12:01pm EDT

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geye keith mccollough, it starts here on the fox business network. and before that an a.m., don't forget, nicole petallides and lauren and i at 5 a.m. >> got to go to bed now. sandra: will do. stuart: sometimes you get it right and then you tell everybody. we were right on gas prices you're welcome. and hope you enjoyed your cheap gas in weekend, it's fallen one penny per gallon per day. and this is a shot in the arm for the economy and that's here, but a disaster for russia and venezuela, more on that. trump rules, and a poll puts him right at the top. the debate is thursday. and politics hillary was is trouble. there's speculation about
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abiden run all over the place this morning. and the president takes the war on coal to a new level. he's going to kill it. coal company bankruptcy beginning. it's supposed to be quiet, it's not. "varney & company" is about to begin. first out of the gate look at the price of oil right now. 46.30. had been down to the 45 range a few moments ago. crude is down $46 now, it was 62 in june. now, look that's good news for drivers the price of goes keeps coming down and every day, down about a penny a gallon. 2.65 is the national average now. by the way, i paid 2.31 in new jersey earlier this morning. ashley: aren't you special? very good. [laughter] >> theaterat's right, we're going
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to call it a streak. it's not all good news a photo from wayne in california 4.39 for regular at the mobile station in california over the weekend. they're not feeling the relief. thank the greenies for that one. moving on. president obama taking his climate crusade to new levels wants carbon cut a third by 2030 and force them to use one third of power from renewables those mandates are more stringent and says it's the most significant step that the united states are taking. she's laughing. i'm not laughing because we're going to have to play for this. >> and he said that it would skyrocket and a war on coal.
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and it will move on to natural gas. he's trying to get through fiat what he couldn't get through congress. this will be challenged immediately. stuart: he wants to cut carbon emissions by a third, 30%, by 2030 and mandates that the power companies have to get 28% almost 1/3 of their juice that they generate from renewables. that's not going to happen. >> it's not going to happen. 20 to 30 states already poised to file suit, but you do get some credits if you start ramping up your solar and wind energy efforts and bank credits to offset the cost. >> they've been doing it for generation, less than 4% of juice comes from solar and wind. >> even if you believe that carbon is a problem, it's china and india, that are producing the dirty energy and the way that you fix that is of course to let these countries develop, the developed countries are the
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cleanest countries in the world. another irony, stuart electricity prices skyrocket it's the poorest in our society are going to suffer from it from the president says these are the people he cares the most about. stuart: i bet you there's a kick back scheme. low income people get compensated for their lack of money and the high prices and i think the president's going to try to build a legacy here climate change he wants as a major part of his legacy. >> and leave that for someone else to try and implement it. >> on a 2% economy, thanks mr. president. stuart: i think we've done that one. and more talk that vice-president biden is ready to enter the race and hillary is releasing new ads in iowa and new hampshire as a response. >> when i think about why i'm doing this i think about my mother dorothy. she was abandoned by her parents at age of eight. i think about all the dorothys all over america who fight for their families who never give up. that's why i'm doing this why
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i've always done this for all the dorothys. stuart: okay, you saw that. is joe bide and real possibility? help me out, he'd be almost 74. >> that's exactly right. stuart: is he a possibility? >> the way that hillary's campaign is going right now i think there's a desperate look. of course biden himself, the rumor is that obama would prefer to have biden run, he's not a great fan of hillary, there's a lot of antagonistic feelings from them from the primary back in 2008. i think he'll seriously consider it. his chief of staff has been talking to major donors and the hillary camp is nervous. the more that the american people sees of hillary the less they look her. her honest ratings, and her favorability ratings are declining and they both have a problem they would run as a third term of obama.
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so when you see ads like that from hillary woe is me and for all the people struggling what she's going to have to answer they struggled under the administration that you served. how is she going to explain that? >> can you imagine if hillary clinton fails to get the nomination two presidential elections in a row. that will be a political fight and a half. >> she's never won a very competitive election ever. stuart: is that true? >> rick lazio the first time around. running against her husband in a weak-- >> and she also the presidential election last time. no wonder people in biden's camp are thinking about this. >> the disarray it's supposed to be amongst the republicans, but in fact it's among the democrats. >> there is some disarray in the republican camp let's be honest, stuart. stuart: thanks very much. we'll get to that in a second. the opening bell is what 20 minutes away? roughly 23 1/2 minutes away.
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dow futures point to a flat opening around the 17.6 level. now this kraft, oh, recalling their popular cheese slices. how will you get a youngster age four to eat cheese unless it's wrapped in saran wrap? >> and they make the best grilled cheese sandwiches parents, kraft is recalling some of the kraft singles cheese, there's a possibility that a thin strip of the packaging packaging sticks to the slice after it's removed and that could cause a choking haz ard and get this one uber is valued over a billion dollars. and that's more than hertz and another company combined. and jessica alba's popular honest company under fire. customers complaining that her spf 30 sunscreen left them burned.
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honest says the products set the standard by the fda and has lower levels of zinc. let me show you the complaints on amazon. stuart: ouch. >> do not buy this unless you want to look like a lobster. and look at the shoulder a horrible product. we went to hawaii with our kids, extremely burned especially my little two-year-old, the bliss stars and redness on chest and heads and the company is not saying too much. >> this was put out by jessica alba's company. >> she co-founded honest it's very popular and valued at a billion dollars, as you know i'm pregnant in the market for baby products and honest is what everybody recommends. stuart: they stand by their product and not backing down at all. they say it's fda approved and the zinc taken out of it was so-called elements that just as effective.
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>> i think that we need that australian sunscreen. that's the country that has sunscreen that works. stuart: if you go on a beach in australia they've got the guys on the side with a spray, you stand in front of you and spray you all over with stuff. >> the chemical and-- >> it's $1 one australian dollar and walk away. go into the sea and come back for another dollar's worth. ashley: i see another career for me. stuart: spray guy. [laughter] going to read a promo for you. >> i'm listening. stuart: 5 p.m., lauren sandra and nicole. >> wake up! . stuart: it's a great show. i watch it every morning, it's a great show. and back to president obama's climate crusade. tough new regulations, power plants are all coming in all probability. big blow to the coal industry. joining us is diane black republican from tennessee,
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welcome back. >> good to see you, thanks for having me. we're smiling, but you can't do anything about the regulations, they're going to pass this the executive order and epa rule nothing you can do. >> that's the problem with the president that believes he has a pen and phone and by executive fiat he continues to write rules and frankly i believe for the next year and a half we have this president he'll do everything we can to accomplish his liberal agenda before he leaves you're right, it's very hard to override what the president does which is why i hope the people look carefully at the next presidential election. >> you have to go through the courts, haven't you? there would be a legal challenge to these rules and i think that some states are starting to challenge the rules, but really you guys are on the sidelines in congress. that's very unfortunate. the only price that the president will pay will be a political price that the democrats will pay some way down the road that's it. >> but it's really the people
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that are going to pay, stuart. you talked about this and so did your other hosts, that people at the lower end of the income brackets that are going to be hurt most by these decisions made and frankly, we've got coal fired plants in the state of tennessee and they spent almost a billion dollars coming up to the highest standards there. and if this is done there's a chance we'll lose jobs here in our community. that the cost of the fuel is going to go up. certainly heating costs will go up. so, it's the person people that really suffer under this president. >> real fast diane, the senate will vote today on defunding planned parenthood. it does not look like the senate will get 60 votes needed to keep the debate going. that means it fails. there's another issue where you're kind of aced out and you can't do anything about what the president decides to do. >> we can let the american people know and through these videos that have been showing for the last several weeks,
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they're getting to see the true soul and nature of what planned parenthood is. i think it will be an outcry from the american people both pro-life ap pro choice to say this is not right, this is inhumane, callus behavior and call upon the president. and i think the pressure needs to be placed on them. stuart: diane, you were an emergency room nurse a couple of decades. >> that's right. stuart: would you rather be in the emergency room or in congress? >> in the emergency room i accomplished more. but i believe the country is worth saving and i'm going to do everything that i can in my power when i'm there. >> diane black, republican from tennessee appreciate it. >> thank you, stuart. donald trump says he pays as little as possible in taxes and he's proud of it. i know somebody who would agree with that 100% his name is
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napitano. the judge is next. i pass as little as possible. i fight like hell to pay as little as possible.
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>> bleeding the republican pac in the latest poll. he takes 19% of the vote. scott walker second 15%. trump is known for saying contentious things, right? listen to what he said about paying taxes on "face the nation". >> you know what? i've said this many times and it's not exactly breaking news. i pay as little as possible and fight like hell to pay as little as possible. number one i'm a business man and that's the way you do it and put the money back into your company and employees and all that. the other reason i hate the way our government spends our taxes. stuart: i had to restrain the
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judge in that sound bite because he's in full agreement. napitano is here. >> may i suggest, mr. varney that you as well are in full agreement with that. stuart: however, i wonder how that will play in a society of people pay any income tax as all. and a man who is very wealthy, i pass as little as popular and is proud of it. is that man popular? >> do you think that donald trump is aiming for votes in the mitt romney 47%. stuart: yes, he wants them. >> if he is aiming for votes there his theory is by lowering taxes and allowing people to keep more of their money and invest it and stay fit. a rising tide lifts all boats. stuart: and never heard him say that cut the tax rates and--
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>> i don't know that he would articulate it that way. knowing him the way i do i think that's the cess sense of his argument. the biggest big government member of the supreme court in the past years, oliver wendall holmes said no one person should pay a cent more than they're obligated to. we calculate our own taxes and the government doesn't calculate for us. what the donald is saying is not only sound economically it's sound morally. >> who in their right mind would pay more. stuart: donald trump going to the election has to release his tax forms. >> i think he probably will. what the effective rate is. stuart: he's in the real estate business, you and i know judge all kinds of neat little, some would call loopholes in the real estate business. >> every one of those loopholes was written into the law by a
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majority of congress or a ruling by the irs. but the average person might not appreciate or understand why they're there, how they're there and how mr. trump utilized them. big picture when you're talking about the amount of income he has, it actually benefits when he pays more taxes bass unless he puts that money in a shoe box, which he doesn't, it's going to get out. stuart: if you were one of the moderators-- >> you sorely tempt me. stuart: would you-- i forgot my question. >> effective tax rate? would ask him what the tax rate should be. stuart: would you say to donald trump, all taxation is theft, agreed donald? >> yes, i would and he would probably say, yes. stuart: he would not he would not. all right. you'll not be with us for the rest of the show? >> you know what i'm doing?
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>> tell them. >> geraldo rivera wabc radio. stuart: excellent. >> you've got to listen. it will be a different show. stuart: that conflicts with my show. >> listen during the commercials. stuart: right get out of here. do you remember the ceo that gave employees a raise, $70,000 a minimum. he's running into a few moments and we'll deal with it in a moment. >> sometimes if you're a little below what it takes to scrape by, that can be distracting from that passion from that purpose that you have for what you do so i'm all about achieving at the maximum amount, but i want to remove those distractions and help people move forward.
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so when you take care of people they send to take care of you. stuart: oh the plan is back firing. ashley: it sounded good. firstly it created a major distraction for the company itself. some customers saw that as a political statement. or others were worried that there would be a price hike or salary would be paid and left the business. and there were those within the company with more responsibility, the person that has the least amount of skills is basically getting the same i am. i got a little bump in pay, their salary is equal, and they were accused of being selfish and left the company. >> and look at the bug, cheap
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>> what they're saying is
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sound economically and morally. who in their right mind would pay more than they're obliged. stuart: we showed you that because you'd realize that we start at 9:00 sharp every morning, get the good stuff early. >> the opening bell has rung and trading has begun this morning, we're looking for a gain of maybe 10 points what we're looking for. pretty much a flat market. we're up at 17-7 is where we are. moving up from there. pretty flat this monday morning. >> to another market and we called this one. another big drop in the price of oil. we're at 45.99 right now. that's down a buck 13. that's a big drop. the price of gasoline follows suit. the price for a gallon of regular a penny a day per gallon now. 2.65 is where we are. we've got an eight-day streak where the price at the pump keeps going down. scott shellady is joining us
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and scott to you first, you want another victory lap, another statement, yes, yes, yes i was right, go do it. >> you know i feel confident that it's going to slowly drift lower, not a plunge lower as you say all the time stewart. uart. and then we're going to-- the risk reward is too much to be short so i think that things will stall out a little bit. we're going to grind lower and gasoline will keep coming down. there isn't enough global demand to take on the supply. >> you know, this could be a problem for commodity traders and companies and commodity countries because it's not just oil that's down. copper is down. i don't know the names of all the others zinc is down and all of the commodities are down, scott and that's not good news entirely now, is it scott? >> no and the older traders will tell you what i hear all the time these commodity indices or baskets that we look at that are down to five year
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lows again, they're telling us what's around the corner and what they're whispering. the deflation work. they get cheaper the longer things go out. and the balance sheet by 4 trillion, trying to by for inflation or bring inflation forward and that's not happening in the face of that. prices are going down. >> hey, keith, in seattle there. no, in portland oregon aren't you? >> i'm actually in seattle, you're correct. i'm in seattle today. stuart: i paid 2.31 this morning per gallon in new jersey. what do you pay? >> i wish i was in new jersey i paid $3. stuart: that's the green. ashley, you don't drive-- >> i do drive, i'm in connecticut a little pit of a premium. stuart: new jersey gets a bad rap. the service plan lets you watch
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anything on any device by wireless, tv computer, phone, tablet and costs $200 a month. keith you've got to like the sound of that one. >> i like the fact that they're finally bundling the entertainment that people want to see, but $200 a month, i don't like that. i think it's supposed to be good for the consumer and it's good for the company. somewhere there's got to be a balance. >> at&t just closed on the directv deal last month and moving quickly. it's a big race for the wireless to bundle up with the video service, i think they're going to do well with this. maria: scott, what do you think? you're a technology kind v guy. >> yeah i do. and i agree that 200 is rich. 175 190 would have been a better price, but it's a good thing i like what at&t is doing and getting more in the
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technology like netflix. maria: got it. a look at disney's earnings as you know that stock has been on a tear a hot streak recently. now at $120 per share, keith, it's a new high 120 is a new high. you like it even at this level? would you buy it some more? >> you know i do like it even at this level. here is why. they go way beyond it's about television entertainment and the hottest property in the world. indiana jones, "star wars." these things are all entities in and of themselves. the juggernaut is one of the few areas that consumers are going to spend. stuart: they've done a remarkable job running that company, just remarkable. i'm going to follow-up on where the big name tech stocks are. these are the stocks that we follow for you almost every day because that's where the money is pouring in. start with apple. now apple is down it's somewhat depressed recently
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over there in cupertino. and not that well done recently. look at facebook last week it appeared to be closing in on $100 per share and right now i've got it $93 a share and those who wanted to see it at 100. ashley: we were. stuart: how about amazon, a terrific run recently and still on the run, 536 for amazon. netflix, another stock that went straight up in the last month or so reached 117, it's backed off this morning. let's go to nicole on the floor of the new york stock exchange. merck licensing an ebola vaccine. tell us the story, please. nicole: this is conducted in west africa. there were over 2000 people that were part of the test.
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2014 people that had exposure to ebola. after they received this vaccine none of the patients got the deadly virus and that is the great news behind this. the stock is up about 1/2 a percent. the fda, this was published in lancet in the medical journal. with that the fda say it's preliminary done halfway and the findings did not meet the chive sdoordz so they did not exactly follow proettocol from top to bottom. stuart: so there's a slight calfveat and thanks so much. if you want to watch lauren sandra and nicole together at 5 a.m. great show early in the morning. next case another round of funding for uber bringing the
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valley to that. and some of that came from microsoft stock. wouldn't that be nice to get into this? >> yes, they seem to be going despite the regulatory problems. >> investigate google and alibaba is already on board. it doesn't seem to be slowing down one bit, which is interesting. >> keith, i've got a problem with this i can't get in. i can't invest in uberunless i've got a couple million to share, i can't buy any of it. i don't like that keith. >> no i don't like that either, but, you know this is what the individual investor needs to understand. the deck is heavily where they're going to make their money. they want to make money and hope left holding the band. number two, the process is stacked. let it settle down and then buy. >> scott, if i was running a major technology company and it
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was private. i honestly think i'd keep it private. i don't want to go public and deal with the regulatory authorities and lawyers breathing down my neck. what say you, scott? >> the last time we had the dealt melttown they put the stocks off the major exchanges. they're right. and i think they're going to keep this private and ultimately from the investor and leave mom and pop holding the bag. i love uber, but let's remind they're not reinventing the taxi. they're reinventing the way you get a taxi. that's a different deal not a different taxi just a different way to get one. i'm staying away. >> i think you're wrong. i think it's brand new and a revitalizist technology. stuart: want this one? silence, please. [laughter] check the coal companies, we're in mourning president obama wants to tighten regulations on emissions and coal has taken a
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huge hit under president obama. coal is just about dead isn't it scott? >> yeah i think so. i mean coal is going to-- they're going to fight the fight that mcdonald's is fighting. the green fight. solar and wind that's the way that things are being pushed and the way that the government is hiding it. and i'd stay away from coal,. stuart: keith would you stay away from coal stocks? >> i'd look to go with the government rather than against it. stuart: i don't think i've met a coal investor it ten years. >> if they do it's taking the way of the dinosaur, but the writing on the world for some time. >> i want to leave time for this one, jessica alba's honest company shah sham poonpoos and
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lotions for kids. ashley: the company is standing behind the product saying look it makes all safety standards and its approval by the fda. maybe people aren't using it properly, but it's bad about. r right now. stuart: that it is. keith they came in with great pr because they've got a celebrity putting her name as the co-founder on the company. that could back fire, couldn't it keith? >> well i think so, but they've got a great opportunity to fix this. if if he is ka alba steps in and takes charge. i think it will work in the company's favorite. stuart: scott, last word to you. do you use sunscreen? >> no i don't use sunscreen, i don't, if i take my shirt who have in public i'd be arrested. the final word. thank you, everybody, top of the hour steven moore that the
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cabinet wants to talk to. and we'll talk about donald trump's stancesment we're down 26 points 17-6 is where we are. the united states considering charges against the officer who exchanged fire with a choot chattanooga chattanooga you are looking at two airplane fuel gauges. can you spot the difference? no? you can't see that? alright, let's take a look. the one on the right just used 1% less fuel than the one on the left. now, to an airline a 1% difference could save enough fuel to power hundreds of flights around the world. hey, look at that. pyramids. so you see, two things that are exactly the same have never been more different.
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>> a reading on the manufacturing sector ism leaked early. it was supposed to come out at ten. it was leaked moments ago. worse than expected. and the market is beginning to come down just a little after the early leak on that news. here is the big story of the day and we called it the price of oil coming way down you're at $45 a barrel right now. off more than a buck. look at the share price of tyson foods. they didn't make the money they were expecting and down it goes
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10%. president obama approved using american air power to defend syrian rebels, al-assad and islamic forces. colonel ralph peters is here. it looks like an escalation what say you? >> it's an item tibety teensy evacuation -- escalation and it's obama trying to do war by the teaspoonful. we said we would provide air power to the handful of the freedom fighters that they're tried if attacked. if they go after the islamic state or the islamist terrorists, but it implies
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they, in order to attack the those forces we wouldn't because there are syrian freedom fighters don't want them to fight or you hall in or you're out. the this warfare, and we have a bad deal with turkey and sold out our allies and we the kurds we told them out for the use of a couple of runways, well done mr. president. stuart: i get fired of this ongoing chaos in the middle east which we don't do anything about at all. in fact i think we make it worse in many respects and that's my personal opinions and we've heard from you before and ralph i have to stay away from it and it's monday morning, i
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want to get on to a good start. >> and the kurds could move on. the avenue officer who exchanged shots with the chattanooga shooter could be in trouble, he carried the gun in a gun free zone. this was premature, it came from the fact that some bureaucrat said he could be charge. he could be charged, he could be court martialed. >> let's wait and see if they do something sensible. i suspect you'll see a little of reprimand and when he moves to his next assignment it will be removed, but i don't see this being a court martial that sends a guy to leavenworth. the internet is a beast that panders to the worst of it and once in a while it's nice to
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check the facts. it's so often on the defense here. we're considering any kind of charge against a soldier who fires his gun against a terrorist. what kind of message does that send? >> because that's how bureaucracies work. bureaucracies don't look at people, looks at regulations, rules e-dicts, there's a part that bothers me. remember leona hemsley that said taxes are for little people. the rules and regulation pull for the little-- and in the meantime if you're hillary clinton and you compromise national security and leads to the e-mails, you get to run for president. i mean that's the 1%. the real 1% who the ones who
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get away with everything short of murder and maybe that too. >> and it's -- i never saw real combat. i never have i'm sure you are, and all hell breaks loose. >> you are being grossly unfair to our domestic elite. they claimed the cross the princeton and some ride horses. but your point is well-taken. the decline in u.s. military effectiveness has been coincident with the raise of think tanks and civilians experts. the more we wreath elaborate theories of warfare, you killing the suckers until there are none left or the ones left
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throw up their hands. there's no decent way to make war, you win or lose and the greatest immorality when we're engaged in warfare is for the united states to lose. stuart: ralph, you're a popular guest and now we know why. thank you, sir. >> thank you. stuart: good luck. keeper airfares are available and i mean significantly cheaper. how do you fly cheap. we have some examples in a moment. ♪ fly me to the moon and let me play among the stars ♪ ♪ i built my business with passion. but i keep it growing by making every dollar count. that's why i have the spark cash card from capital one.
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>> we're going to be following this throughout the program. the price of oil 45 a barrel early and now 46.03. check the oil company stocks way way down. exxon chevron, and all of them down. as we start using percentages
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we are now. there are sharp drops. look at airline fares now, they're getting cheaper in some cases a lot cheaper. seth kaplin is here. what about dallas to seattle, how much now? >> yeah stuart this is one a year ago, people on average were paying oh $239 to fly in that market. now checking fathers today, you know $129. why? well in that market southwest got the right to start flying from the spauler airport in dallas, nonstop to seattle. they're not the only major airline that doesn't charge for bags. sometimes they're more expensive you have to ask yourself am i a heavy packer southwest may be the best or if you're a light packer maybe
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they don't have those-- >> i'm in chicago, want to take the kids to disney how much now? >> yeah, about a year ago, were paying close to $100 each other and right now $49 and the key there, and this is interesting, is that a year ago, the cheapest fares, a lot of times were on an ultra budget airline like spirit and the other guys would say somebody wants to fly spirit, let them. and even they they're matching and depending on your travel habits. sometimes it might pay a few extra dollars to fly another airline. stuart: wait a second, to get the prices we've kwaeted. can i just front up and say give me that ticket now, at that price? can i do that? >> you probably can't just run up to the ticket counter and say give me a ticket now for a
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flight today, but stuart-- >> you know what i mean i'm told of being told if i wait five minutes i would have got it cheaper. are you going to get me from chicago to orlando $49 can i do that? >> you might not be able to do it on a friday night, but the fares are from travel all week. you're not talking you have to advance it months in advance. stuart: we will take that, come back with more. and donald trump says he pays as little in tax as possible and he's proud of it. could that be what's helping him out in the polls? i'm not sure about that. steve moore is next though. second hour of "varney & company" it's on the way. >> you know what? i'm saying this it's not exactly breaking news i pay as
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ril as possible. for two reebs, i'm a-- two reasons and i hate the way our government spends our taxes. can a business have a mind? a subconscious. a knack for predicting the future. reflexes faster than the speed of thought. can a business have a spirit? can a business have a soul?
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can a business be...alive?
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>> all right. donald trump comes right out there when he has something to say boy, did he have something to say on taxes. watch this. >> all right, don't watch it. [laughter] i was going to say he says he pays as little as possible in taxes because he doesn't like the way the government spends the money he does give to the government. steven moore is here on that in just a moment. hillary clinton her campaign clearly struggling now joe biden considering a run, question mark? does the left want that? question mark? we're on it. plus, a big time democrat is worried for millennials, that
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they paint a bleak future. we'll talk to a 20-something. and i received a lot of flak to jessica alba when she came to talk about her company that makes all natural soaps and shampoos for kids and now it appears that her all natural sunscreen doesn't work according to some critics. "varney & company" starts now. ♪ look at the price of oil as we start out this monday morning, crude is down to the mid $40 range remember it was about 62 in june. good news for drivers, the price of gas coming down a penny a gallon a day, right now the national average is 2.65. look at california 4.39 for a gallon of regular, that's one station, one of our viewers sent us this photo from california, the state average
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is 3.73, but this is spread over four bucks, way over $4 for his gallon of of regular stuff. okay. and send us your gas price picture please. go to our twitter pages and melissa francis, why is gas so expensive in california. >> because they're greenies i grew up in california so i don't-- and so it's more than 70 cents right now, it's about 71 cents, and there are some things that are really fun, for example, they pay sales tax on their excise tax, so it's a double tax you're taxed on the tax. think about that the next time you fill up. they don't put it towards roads and freeways, but they have a fuel tax and they funnel about a billion dollars out and just dump it in the general fund. stuart: those greenies. >> yeah so california you pay the price, but you get nothing for it. stuart: i'm wondering when
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they'll be sick and tired of it. 3.70, whatever it is 3.70 and change. >> been like that a long time. stuart: national average, 2.75 a buck more. when are they tired of it. >> and people feel like you pay a premium for living there. and then some point it's not worth it. and people move to arizona and-- i started out life in california and you did, too. ashley: yeah. stuart: it's a wonderful state. fantastic fantastic. a great place for newcomers. >> if you can afford it. stuart: now that's changed. >> there you go. stuart: and show the big board, we're down 49 points. look at some of our favorite names that would be the tech giants. start with amazon apple, facebook, all three of those are up today. and by the way, there is no stopping disney. we're going to find out how
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much they're making tomorrow, but they've been successful and the stock has run right up because of successful summer movies and the stock all-time high, walt disney. look at the coal stocks that's a totally different story. beaten up completely during president obama's tenure. down today. alpha natural resources actually filing for bankruptcy. the rest of them if you saw a chance, it's like this straight down. the white house posted on their website for the news the biggest step we've ever taken for chiement -- climate change. >> and here is mary kissel from the last hour. >> and india and china have the dirty emissions.
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and it's the poorest in our society that are going to suffer from it. stuart: the president makes the formal announcement later on this afternoon and let' get to donald trump leading the back of the g.o.p. field. the new wall street journal high pressure nbc poll he's got 19% of the vote. the first debate on fox this week. now let's listen to what trump says about paying taxes. >> you know what? i've said it many times, it's not exactly breaking news i pay as little as possible. i fight like hell to pay as little as possible. for two reasons, number one i'm a businessman and put your money back into the companies and employees after that. the other reason is that i hate the way our government spends our taxes. stuart: you were listening there. >> amen. stuart: and steve moore, the distinguished fellow at the heritage foundation nodding his
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head vigorously. when a billionaire goes on television and says i pay as little of tax as possible it's not going to make him popular, is it? >> i think it's going to. and donald trump has tapped into the hell yes voter. i'm not a big donald trump enthusiasts. what did he teach us with that statement? number one when you lower a tax for a business they can put more money into the business hire more workers and provide better valerie and number two, the government is wasteful. if you give them money especially on the republican side of the aisle, a vast majority of voters-- >> i think you're right, but no other republican would get out there and say such a thing.
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>> if they did say it. >> that's why he's first in the polls because he's saying things nobody else has the guts to say. i'm a flat tax guy, i want to get rid of the poop holes and special interests that trump is looking at. and we're speculator here what an economic tax plan is do you have any idea what it light might be? >> he said contradictory things. and i think he would go for some kind of low flat rate tax that gets rid of deductions, but this is a hypothesis once he said he was for a big wealth tax and then he said a few weeks ago he wanted to get rid
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of the estate tax. how is the figure on that. stuart: you're a flat tax guy. >> i am. stuart: 17% is what you're looking at? >> i helped with rand paul his rate was 15%. stuart: across the board. here is what you make give me 15% to the government that's it, basically that's it right? >> yeah everybody pays 15. since you makes ten times more money thatten i do you pay ten times more tax. that's fair. stuart: i wanted to get it out there. next one, still on trump, melissa, the g.o.p. establishment is not happy with his success and top of the polls the g.o.p. is not happy with that. >> they're not happy and it's interesting because he's actually getting people more excited about the primary and the debates and drawing more from the candidates. he's raising issues and getting people involved. in terms of taxing that's
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amazing. and i always said warren buffett if you want to pay more taxes you can donate it. he knows the irs is terrible at spending the money. if you lowered my taxi-ing would donate it to charity, would happily do that. start a pledge. stuart: we would pay a lot of money in tax if we thought that the government spent it properly and raised everybody up with it. we don't believe that. i think that's the case, isn't it? >> that's exactly what donald trump said. you've got a government that can't run a website, can't deliver the mail on time and what are you getting for your money. i think that melissa is on to something here. donald trump, the reason the republican establishment doesn't like donald trump, because donald trump is criticizing the republican party and they don't like republicans very much and doesn't like democrats either hate the parties. stuart: i have to get this in
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debby wasserman schultz is at it again, the difference between a democrat and a socialist and again could not answer. watch this. >> given that bernie sanders is an unabashed socialist and believes in social governments like in europe. what is difference can you explain. >> i know that chris mathews enjoys that banter we'll discuss the difference between democrats and republicans. stuart: okay. steve come in please. i'm going to give everyone 10 to 15 second. can you define the difference between a socialist and a democrat? >> no, in the modern day democratic party. yeah 20 years ago you had a new democratic win represented by bill clinton. it doesn't exist today. democrats for most part today in washington are socialists. >> in theory there's a complete
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difference. if you look at political theory democrats are supposed to believe in a democratic theory and socialists are redistribution of wealth we work for the common good and everything is sliced you up and handed out. one is a democracy. >> it's state ownership. stuart: can we agree on the bottom line, the trouble with socialism sooner or later you run out of other people's money. >> this is what greek learned, what detroit learned, chicago, go down the list. this is a problem in 2016 for the democrats because they have a socialistic philosophy. show me anywhere in the world where that is working. it's not. stuart: steve moore, thank you. and try this story, kraft is recalling the popular singles slices.
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lauren, in case you missed it go. >> what are you going to do with the mac -- kraft cheese? . mac cheese sound good. there's a possibility that a thin strip of the packaging stays with the slice and can cause a choking concern. ap -- and i want to show you hitch-bot. he met his demise in philadelphia. and tried to make it to california, but never got off the east coast. his owners says-- >> what does it do? >> it's a hitchhiking robot. >> what happened? >> you pick hemim up and take him. >> he was in canada and wanted to go across. stuart: they're in my ear
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saying just don't us don't understand it doesn't mean you need to waste time on it. >> and two months after winning the kentucky derby, preakness and belmont stake, to become the triple crown winner. american pharaoh, it won his team another 1.75 million dollars. stuart: don't forget to tune in every friday for-- every friday? every weekday morning, nicole sandra and lauren 5 a.m. eastern. >> thank you. stuart: another near miss with a drone. this time two planes above new york city. and you don't get any cooler than this. this ice chest that allows you to plug in your phone and mix your drinks on the beach. we're playing with it next on
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varney. ♪ me is tom. i'm raph. my name is anne. i'm one of the real live attorneys you can talk to through legalzoom. don't let unanswered legal questions hold you up, because we're here we're here and we've got your back. legalzoom. legal help is here.
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>> when was the last time you shopped at sears, not recently apparently, that thing is down 6%. that's a big drop. all kinds of things went wrong with sears and that's a huge drop. we see is back to $20 per share. all right. to change the scenery entirely. what you're looking at is a baby skunk with his head stuck inside a yogurt container. the police officer runs in to rescue it creeps up behind and then has to run quickly-- >> don't spray me. stuart: he successfully avoided being sprayed. >> watch this. more serious, a delta flight
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from atlanta to jfk in new york, a drone was ang rustily close to the plane. it was at 1400 feet at jfk. on the right wing and saw it and immediately told the f.a.a. and jetblue flight keep an eye out. nothing happened. what happens, what can a drone do to a big plane? it can get sucked into an engine and cause havoc. >> the generic drone video. no, you can't have drones any more than 400 feet off the ground, unmanned aircraft is the ruling. and we're hearing more and more cases back in may there was one over brooklyn as a plane was coming into laguardia, same thing. >> got to get them out of the way. >> got to get them out of the way. stuart: check the big board, 50 points as we speak and check the price of oil, that's down around today. 46 and small change. how about gold? a big drop in the past month.
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i believe it's down today. ashley: now 3.50. stuart: it's 11091 per ounce. >> and here it is coolest cooler. you can do all kinds of things with the cooler aside from taking it to the beach. this is a cooler? >> it actually is a tech gadget, isn't it? >> we've been testing it in the cyber guy lab. and this is an innovative way to invent the cooler. you're bringing your tunes to any party you go to. and speakers built into it look how easy it is. >> turn that down. >> and then look at this i want to show you, you walk into a party, monster tire wheels. you walk in and ready, if you would, wouldn't mind getting some glasses ready, we're just going to show you how it worksment inside it stores ice
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just like anything else and integrated, and so intelligent that it makes you think that everything is just completely ready for anything. i know you like your mohitos with more mint, but for demonstration sake this is no wimpy blender. this is right? >> hello. turn that down! are you ready? give me a glass and i'll tell you that you cannot even get it. this is a kick starter idea. >> oh. >> it started a while back and it's sold out. stuart: hold on. >> that's irritating. stuart: now, this is a high-tech cooler and you can use a blender on it it plays music and charge your phone on it. >> a ubs usb plug into it. eight to nine hours of battery life. belt in a bottle opener. stuart: hold on hold on. how much. >> the life of the party. $485. who cares? you can't get it.
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it's sold out. 62,000 pre-orders to this thing. stuart: wow. >> started shipping on friday and good luck get your hands on it. >> are you sharing or hoarding those drinks? what's going on? we're here dying of thirst. stuart: we may claim to be a financial program and there's a financial story behind this. which is that they've raised $13 million on a kick starter campaign very very quickly. >> this is the new american dream, the idea that you can be absolutely nobody in life and have a great idea and execute it simply by doing crowdfunding on-line. this is funded now to the do you know of 13.2 million. >> ridiculous. >> by a brilliant guy named brian and made his dream come true and our lives are better. ashley: brilliant. stuart: all right. that was good. i give you that. >> i saw you. stuart: i'll go with that i'll buy one, well get one free--
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coming up near disaster during a nascar race one of the cars nearly took out a crew member you'll see it. and hillary now running ads to combat a possible joe biden campaign? does the left really want joe biden to run? >> families are strong america is strong. >> i did not have sexual relations with that woman. >> i want them out as soon as they can get out. >> will you demand it? >> well they're not mine. what difference at this point does it make?
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>> you know it would be true to say that millennials take a lot of heat however, some people are standing up saying that millennials have been given a raw deal what with student debt and low paying
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jobs. well, we'll have a millennial on the program today to answer all charges. and jessica alba she's underfire. customers complaining her sunscreen doesn't work. alba was on this show when she launched her company. i gave her a hard time. we will play you some of that sound. okay. joe biden's star is rising. why? because hillary clinton's is falling. the vice-president is the headline maker, will he run? which big donor is he meeting with now? he's the center of attention because democrats are extremely anxious about anxious about their front-running candidate. joe biden is 72 years old and he is as they say gaffe prone. but he and john kerry are the only ones with the stature required to take it away from hillary. she makes millions making
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speeches and $a 600 haircut and rails against the rich and topple the 1%. the e-mail scandal, why was she using an unsecured private server for supposedly state department business? reluctantly covering her troubles, they don't want a knockout dragout fight for the nomination, they want a coronation, but they know hillary by her own actions has made a mess of the early part of the campaign. they hate this. they want to beat up on donald trump. they want to talk about the war on women or anything remotely negative for the republicans, but they're stuck with hillary and they've got trouble. don't be long before the new york times begs joe to run.
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this allergy season, will you be a sound sleeper, or a mouth breather. well, put on a breathe right strip and instantly open your nose up to 38% more than allergy medicines alone. so you can breathe and sleep. shut your mouth and sleep right. breathe right.
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stuart: the dow jones industrial average right now is down close on 100 points. why would that be? well, there was a disappointing report on manufacturing, came out -- actually, it was leaked 45 minutes ago. should have been released 30 minutes ago but it came out early. it wasn't a good report, and we're down almost 100 points. >> also lower than expected that wasn't so great. stuart: so the economy's slowing a little bit. >> yes. stuart: and the dow's down 102. look at tyson foods, they were not making the kind of money they were expecting to make, and they lowered their outlook for the rest of the year, down 9%. and twitter another rough day, $30 a share on twitter now. is that a takeover candidate? i don't know, but it's at $30 a share. cheap oil is the story of the day, right now we're at 46.10, we were at 62 in the month of june. of course, this is good news for drivers we're down a penny a gallon a day now, that's the
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trend $2.65 is your national average for regular. now this, joe biden reportedly considering a run for the white house. question: does the left really want the vice president to run? let's ask archsuper, uber-lefty we're going to beat him up a little, alan colmes is with us. you are on the left -- >> proudly. stuart: proudly so okay. who would you rather have in the white house, joe biden or hillary clinton? >> don't know that i can make that determination yet, but i think joe biden would be a very good candidate to challenge hillary, as is bernie sanders. stuart: you want him in? >> i think it would be healthy to have that debate. he knows foreign policy, i think she could be damaged at some point because of what has happened -- stuart: yep. >> by the way, the times got that story wrong. the people jumped on that -- stuart: like other democrats, you are getting a little anxious
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about hillary's campaign because it's not going that well. >> ideologically closer to bernie sanders than any of the other -- stuart: how can that be? >> because i'm a good american. [laughter] >> we all laugh. stuart: i'm going to talk about this. >> fine. stuart: bernie sanders says he would not be unhappy with a 90% interest -- >> tax rate? stuart: 90%. >> until as such time as we solve our deficit and debt problem. stuart: is that okay? >> we've had that rate back in the '70s and '80s, did we not, until reagan became president. stuart: there's all kinds of deductibles and interest -- >> that's true. i'm not sure i'm comfortable with that -- stuart: well, what level? 80%? >> i don't know that i have the answer to that. stuart: why not? >> why not tax the rich more? let those who can't pay -- stuart: from a moral position, this is a -- >> okay. stuart: you're with varney, all right?
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>> ooh! stuart: right now if you make serious money and you live in california, new york city massachusetts, connecticut, you know high-tax states, you're paying more than half your income in federal and state income taxes. i maintain that that is immoral. no government anywhere be should ever take more than half of a person's income regardless of how much they make. so my question to you is what do you think is a moral limit to the amount the government can take off? >> i think it depends on the economy at the time. stuart: no be, it doesn't. i'm asking you a moral -- >> you want me to give you an absolute. i'm not sure. i -- stuart: yes, i do. are you happy with above 50%? >> yes. those who can pay, should pay. stuart: why not 60%? >> i think bernie sanders has a point. would i go as high as 90? no, but somewhere in between -- stuart: do you think it would grow the economy? do you really? >> i don't think you would have
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to do it permanently -- stuart: doesn't matter whether it's permanent or temporary, do you think it would grow the economy? >> we have not seen the economy grow by the trickle down -- stuart: you know you don't grow the economy. >> giving it to the rich, healthy economy absolutely not. never has. >> ask bill clinton. stuart: wait, just wait. do you really think that if you took a whole lot more money out of the economy from rich people that you would grow the -- >> i don't believe you're taking it out of the economy because so many of these people are saving money. they're not using it to hire people investing in businesses, they're storing the money away -- stuart: they're investing it! oh, get out of here. >> that's where a lot of the money is. that's where mitt romney put his money. >> it grows and provides jobs. >> that's a myth. stuart: it's not a myth. oh dear lord. you're killing me. what a way to have -- you could have this conversation for the rest of your life.
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>> did the economy grow when bill clinton cut taxes? it did. stuart: what'd you say, love? >> did the economy grow when bill clinton cut taxes? it did. >> it did partly because of the internet boom and for lots of other reasons. >> no, it did. stuart: did the economy grow when ronald reagan cut -- >> no we had tremendous deficit and debt -- stuart: the economy grew like crazy! so did employment? because congress wouldn't cut spending. >> he spent money on the star wars technology -- stuart: hold on -- the audience hates it when we all talk on top of each other. you hate this don't you? especially if i lose. [laughter] you're done. >> thank you. stuart: one of these days i'm going to tie you down to how much you think it is moral to take off rich people. >> i don't believe there's an absolute answer to. that i think it depends on so many variables and what the economy is doing. stuart: alan colmes, you outta here. [laughter] now this. steven rattner, bigtime
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democrat, former obama auto czar, he helped out with the gm bailout, he's worried about millennials. the most educated generation in history is on track to becoming less prosperous at least financially than its predecessors. they are face with the a slow economy high unemployment, stagnant wages and student loans that constrict their ability both to maintain a reasonable lifestyle and save for the future. ashley pratt is a millennial, and she joins us right now. ashley, sounds to me like steven rattner is laying the groundwork for the forgiveness of student debt. i think that's where he's coming from. what say you? >> he could be but he could also be contradicting the obama administration here who says that millennials are well off under his presidency who says yes, we should forgive student loans. but look, at the end of the day, that is fiscally irresponsible and this administration has done so much to hurt my generation because of that.
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putting forward these fiscally-irresponsible policies and saying that, oh, you know, it's okay to keep racking up a federal debt, and it's okay to spend more than you take in. it's not. and that's what we have taught my generation to do. stuart: but if we took a vote now of your generation, that millennial generation, i think you would agree with me that way more than half would vote left that's the truth, isn't it? >> sadly, that probably is. but i do think the more we do to educate more young people about the fact that under this administration we have suffered dire consequences, i think. i mean, student tuition which you know, is not entirely the president's fault but has gone up but that's because the economy has been so bad. jobs for young people have definitely decreased, and people are coming out with college degrees and no way to utilize them. stuart: true. >> that's why went we're seeing this $15 minimum job rate hike increase you're seeing so much support from young people, because they're the ones getting these entry-level jobs. stuart: if i was to go to a
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college campus in america and make a speech about growth, opportunity and the american dream, do you think i'd get a fair hearing? >> that really does depend stu because i think a lot of young people do want to hear this message of how can we be successful again. because i think so many of them are living in their parents' basements staring at faded obama posters wondering am i better off than i was, you know however many years ago? i'm here living at home, i don't have a good paying job, and i don't think young people want to do that. i think for the most part they want to be independent, they don't want to rely on the federal government, but so much of it has become we have to take what we can get and i think that's a sad reality for a lot of today's young people. stuart: ashley, i agree with you. i think millennials are forced into this position by economics and money. they're not choosing it as a cultural change. i don't think it's a choice i think they're forced into it. that's my position. ashley -- >> i would agree. stuart: come again soon, okay? >> thank you. stuart: how about this? right now officials at
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guggenheim partners -- that is a big investment firm -- they're scrambling to reach a settlement with the sec. this would end a probe that started with, do you remember this, the junk bond kenning michael milliken? charlie gasparino, this is reaching all the way back. >> no it's not. milken now is known as a great philanthropist, and he hasn't been in jail for many years. but he does have a relationship, business relationship with guggenheim. big investment firm, you know, based in l.a. and chicago and new york. what the feds did, was they started investigating wherehillen was violating his -- milken violated his alleged improprieties and agreed he would not give advice, would no longer be involved directly in the securities markets. they investigated that. here's the interesting thing,
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guggenheim right now is working on a settlement on the case that stemmed from that investigation four years later. here's what we don't know we don't know if michael milken is going to be named in this settlement. i don't think he is, from what i understand. we'll find out in a couple days. apparently this thing is coming down the pipe. but we do know the investigation they're looking to wrap up involves the deal with him -- the relationship with him and that probe. another story, when this thing gets out of the way guggenheim -- this is the most quiet, huge company you've ever heard of. started with about $5 billion in assets under management back in 2000, now runs more than $200 billion. this is a big company. the partners own the l.a. dodgers. one of the main partners he's looking to leave the firm. part of his thinking there is to get this deal there so todd boley can leave the firm and start his own business. stuart: i've got 20 seconds. think michael milken got a raw
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deal. >> i agree with you. and this is all going to be on, and i think the viewer has to digest this. why? 25 years after this guy pled guilty is the enforcement apparatus of this country still worried about him and not another bernie madoff? i mean, that is -- stuart: well said. good one charlie. thank you very much, sir. time for the sector report. we are looking at automakers. look at them, please. shares of chrysler jumping a little bit after a big sales gain in the month of july. sales spiked -- well, not exactly spiked but they were up 6%. as did sales at general motors, again, i think about up 6%. both of those companies crushing expectations apparently. crushing expectations when you go up 6%? >> 6% growth is good these days. stuart: that's true. ford also up 6%, they sold one and a half million vehicles. an economist for ford says sales will suffer once the fed raises interest rates. but all three of them are up today.
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jessica alba under fire for problems with her company's sunscreen. she faced some hard questions on this program. i got a lot of flak for going after her. that's going to come up too. and a bold call by eric bolling. a ceo gives everyone a minimum salary of $70,000 a year now he's facing a lot of problems. that guy's facing the problems just like eric bolling predicted. bolling is next. ♪ ♪ can a business have a mind? a subconscious. a knack for predicting the future. reflexes faster than the speed of thought. can a business have a spirit? can a business have a soul?
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stop taking cialis and get medical help right away. why pause the moment? ask your doctor about cialis for daily use. for a free 30-tablet trial go to ♪ ♪ >> i'm nicole petallides with your fox business brief. stocks in negative territory this morning on the first trading day of august. the dow jones industrial average down 92 points, led lower by many of the energy names. exxon and chevron under pressure as oil went below $46 for the first time since march. exxon had its price target cut at credit suisse che on over at barclays. disney, new highs this week. auto sales, fiat chrysler and ford both with up arrows, we did see ford do very well for the month of july, in fact, the best performance in sales since 2006. doing very well with the f-150, and fiat chrysler doing well with jeep and chrysler. fitbit, new high.
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$20 ipo, you remember, middle of june. earnings are tomorrow, and we want you to kick it off every day at five a.m. i host the show with sandra smith, lauren simonetti. of we'll give you all the news kick off your day. usaa makes me feel like i'm a car buying expert in no time at all. there was no stress. it was in and out. if i buy a car through usaa, i know i'm getting a fair price. we realized, okay, this not only could be convenient we could save a lot of money. i was like, wow, if i could save this much, then i could actually maybe upgrade a little bit. and it was just easy.
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usaa, they just really make sure that you're well taken care of. usaa car buying service. powered by truecar. online and on the usaa app. stuart: i want to get to dan price, the ceo who raised the
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minimum wage at his company to $70,000 a year minimum. he took a pay cut himself. turns out he's hit some rough times. now eric bolling predicted trouble for this guy on this program. listen to this. >> look, here's what i think is going to end up happening. great guy, dan price, right? i bet you remember him three years from now when this whole system is supposed to be unrolled. he's going to give every employee a minimum $70,000, that company will be out of business. stuart: oh, really? you're jumping the gun on that one, out of business, but it still may happen. he's got all kinds of trouble from his own employees -- >> you can't do this anymore. it was an experiment in socialism. he's still under this experiment. he still is in business but a couple of things happened. we predicted that the high the most skilled employees who were making the most were mad that the least skilled employees were going to make the same money that they were making. no one was happy with that at
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the high end, so the top performers said, you know what? they've clock anything and clocking out at the end of the day, why should i work so hard? two of their top employees left, his most important employees, key employees walked, and then another thing happened. some of his customers walked too, because they didn't like the policy. they thought it was all politics, and their restaurants -- they're restaurants and retail, and they said we're having a hard time with $15 an hour. they walked too. i'm surprised it happened this quickly, but he'll be out of business -- stuart: but you got it right. here's another one. you had a chance to sit down with donald trump. here's part of the conversation. >> nobody's going to tell me what to do. i'm not going to have the donors and the special interests and the lobbyists tell me what to do because i don't need their money. i'm not running with their money. every time jeb is out in the hamptons raising money, i know all the guys that are giving them money. they don't give money unless they're getting something for it. [laughter] stuart: now i want to ask you you interviewed him it aired
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over the weekend on fox. there's four days to go till the debate. did you get any sense of what he might do in the debate? >> that's what i wanted to do, stuart. it was only a couple of days before the debate, the jury was out the new statesman or the donald trump that made him as popular as he is saying exactly what comes to his mind. and i said what do you think -- you're a debate questioner, what do you ask jeb bush a question, scott walker a question, chris christie a question and marco rubio a question. the candidates as close to him. he's at the top, and they're the next four, and he went after every single one of them pointedly, took shots, pointed out chris christie's issues in new jersey and jeb's issues with immigration. he went full throttle forward. he's got one speed, and it's full speed ahead, and i'm guessing it's going to be that donald trump versus the statesman that everyone is hoping comes out.
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stuart: very watchable tv. okay thanks, eric. jessica alba's popular honest company is under fire. customers complaining her spf30 sunscreen left them and their children with a sunburn. al baa was on this program talking about her products when she launched the company. listen to this. do you feel that existing babe by products that are on the market in the united states are unhealthy and unsound for your children? >> yeah. they're a lot. they're a ton. stuart: really? do you feel threatened? >> yeah. there's a -- stuart: all right, melissa i got a lot of flak, and you say what? >> well i mean, you must feel vindicated. there are chemicals in products for a reason, they headache them work. it's bike -- they make them work. it's a cost benefit you decide do i want to put my child out in the sun and have the sunscreen that works and has some chemical or the sunscreen that doesn't work. then you have to take them inside. you chased her down and you were right.
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stuart: but it's a huge company. >> $2 billion company. >> they're going to go public. >> and wait until it goes public, ipos. stuart: puerto rico has until the end of business day to come up with millions and save off default. -- stave off default. we'll update that situation in a moment. but i keep it growing by making every dollar count. that's why i have the spark cash card from capital one. i earn unlimited 2% cash back on everything i buy for my studio. ♪ and that unlimited 2% cash back from spark means thousands of dollars each year going back into my business... that's huge for my bottom line. what's in your wallet?
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>> puerto rico's government preparing to default. let's head to adam shapiro live now from san juan. adam, what's the latest? >> we're talking about the $58 million payment that will be missed, that's the debt servicing on the public finance corporation bonds, and that according to different analysts that we've spoken to is going to be the first of several strategic defaults as they try to put pressure on the different hedge funds and the different muni mutual funds and bring them to the table to work out some kind of negotiation and restructuring. just a few of the numbers for you, the government is operating in this fiscal year with a $706 million deficit. they have a $350 million bond payment coming up september 1st. nobody knows what the next strategic default will be, but already the chief of staff to the governor has said they don't have liquidity to keep operating the government past november 1st, so the pressure is growing. back to you, ashley. >> it certainly is. adam shapiro, thank you very much. hour three of varney is next.
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stuart: what will president obama's legacy be? what will he leave behind and how will it be judged? i think the judgment will be that yes, he did indeed, change america but not for the better. obamacare, signature legislation, a mess. expensive, bureaucratic, it's not going well, and there's no reason to believe it will deliver what was promised. not good legacy. the iran nuke deal, obama's legacy will be a triumphant iran sitting in the middle of the oil patch counting the days until they get a bomb. not good. climate change. the president will claim global leadership in the fight to cut carbon. this is a legitimate claim. he will deliver strict rules on power plants and a leadership role at the u.n. climate conference this year. to the greens, that is a shining legacy. but taxpayers and consumers, they will pay heavily for it, and china is laughing all the way to the bank.
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to the economy, a shrinking middle class a tepid recovery, hassive debt. massive debt. that's what you get when you go for redistribution instead of growth. add it up. this is not the legacy of a dynamic, successful presidency. it's the legacy of a president who tried to change america into europe. who wants that? the worst of it is that president obama did, indeed, drive us down the european road, and it will take a very long time to reverse course and recover. ♪ ♪ stuart: all right. we begin our third live hour with the price of oil, yes, coming down following its worst month since the financial collapse of '08. we're down $46 we had been $45 just moments ago. price of gas starting to follow the lead from oil, falling about a penny a gallon a day. the average now is $2.65. we're calling it a streak.
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pump prices have come down for eight straight days. joining us now, i hope with a firm prediction of where oil is going george jerro from rbc capital market as. >> royal bank of canada. stuart: oh, sorry. [laughter] right, here's the question, is the price of crude oil going to hit $40 and below? >> i don't think so. round one of the feud. however, we do have a very bright analyst who used to be with the cia. she's been writing position papers for us on what the saudis are doing, what iran is doing and what all this means going down the pipe. now, if you look at next year's prices today on crude, you'll see that while we're trading at $46, next april's crude is trading at 50/50. stuart: okay, that's on the futures market. >> correct. stuart: so i can buy a contract at $50 next april.
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>> or you can sell one. yes. stuart: what this tells you -- >> it tells me that there will be an uptrend probably by the end of year. and then, of course, we have elections coming in the u.s. next year. things could change for the better. >> stuart: well, we have been hearing about this for a long time. we were confidently told it's going back to $70 $80 a barrel. it didn't. it plunged down to 45. >> but there are enough doomsayers now to make me believe perhaps we're reaching the bottom. stuart: and the bottom would be because output production of oil starts to stop and slow down. >> correct. and saudis have said that by september they may raise prices and today we've seen the effects, good effects of car sales. truck sales are up enormously. stuart: true. aaa says that by the winter, this coming winter, some apartments of the country may -- parts of the country may see,
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repeat, may see $2 a gallon gasoline, and george says -- >> i don't think so. stuart: okay. aaa also says the price of gasoline will be down maybe 20 cents a gallon from where it is now, down to maybe $2.45 per gallon national average after labor day, and you say? >> possible. stuart: that's better. [laughter] didn't want to walk away without some kind of decline in the price of gas. george, thank you for coming to us on such short notice. check out the big board please we're down 75 points. had been down just over 100. a rather weak report on manufacturing came out about an hour ago, down went the dow. down about a half percent. look at tyson foods. i'm going to call them the chicken guys. they didn't make -- >> yes. [laughter] stuart: they were expecting to make a hot more money than they did -- lot more money than they did actually make and that's a 9.5% drop for the chicken guys. look at starbucks.
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barron's says the dollar value that the market puts on the company could be higher than mcdonalds next year. that would make starbucks the biggest restaurant stock. right now it's at 58 and up a little bit more. let's get to the election. we're just a few days away from the first gop debate, it's coming this thursday. fox news digital political editor chris stirewalt is with us from d.c. all right, chris -- >> how we doing? stuart: i'm just fine, thank you very much indeed. i hear that you have been helping our moderators prep for the debate. feeding them all kinds of information. how are you telling them -- >> now -- stuart: -- how to handle donald trump? >> these people do not need to be fed anything. what we have is a good process that includes several folks to make sure that the questions that they come up with are 100% airtight. we don't want the question to be
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the issue, we want the answer to be the issue. and i like our process. stuart: what are you telling them? in the discussion what's being said about trump and how to handle him? >> look the thing about donald trump is he's got to decide what kind of debate he wants to have. the questions will be fair, they'll be tough. our questions are always tough but they'll be fair questions, they'll be tough questions, and he'll have to figure out what kind of candidate he is and what kind of candidate he wants to be. sometimes you hear from donald trump very bombastic, over the top answers sometimes you hear more thoughtful answers even on the same topic in the last few weeks we've heard him with very different takes on illegal immigrants and immigration, talking about his big heart sometimes, rapists and murderers sometimes. so we dohat donald trump's going to show up. the thing that's easy and good for us we know what the questions are, and they're fair and they're right. he'll just have to decide what he wants to do. stuart: i think this is make or break time for some of the candidates. if they don't perform well or
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stand out in this debate their campaigns could just run aground and not go much further. do you agree with that? >> well, the republicans intentionally delayed the start of their primary process this cycle, it's august, we were on to our third debate by this time in the last cycle so the republicans have to the point of some sure, why not run? there's nothing that you're doing. now we'll have the first competitions the first sheep and goat separation, and for some of these candidates, yes, it will become clear where they rank. the big question is for somebody like chris christie, the big question is for somebody like rick perry, do you hang on and hope for a miracle later, or do you head home and save your donors' money? stuart: have you ever seen a debate anything like this the way it's shaping up anything like this before ever? >> the beforehand part nothing. i think in the end people will say, oh, we remember those. those are debates. but in terms of the anticipation, i have never seen
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anything of the kind. stuart: i'd love to see what one-liners all of the candidates are going to have in their heads in response to donald trump. because i'm sure every single one of them has some kind of putdown or some kind of one-liner to zing donald trump with. >> not cruz. cruz will be wearing a trump button. he wants to be -- ted cruz wants to be the trump turn in the race. but i'll bet you're right they need to have a zinger under their hat. stuart: i'll be watching, like everybody else, i think. thank you very much. hillary clinton looking over her shoulder at joe biden? blake burman joins us. the white house, i believe, is chiming in on this one now is that correct? >> that's right, stuart. josh earnest was asked just a little while ago, earlier this morning from bill hemmer about the speculation involving all of this, and earnest did not really try to tamp down the possibility of joe biden potentially at least thinking about this, at least potentially jumping into the race. here's what he had to say when
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asked about whether or not the vice president is considering this. take a listen here. >> joe biden is going to have an opportunity to make up his own mind. and he's indicated that he's thinking about it. he said that he's thinking about it more importantly and he would know. >> all right, so a couple of responses there stuart, from the white house press secretary. i was also just handed some information, we can tell you now that two longtime biden confidants have now been brought onboard as advisers to the vice president. further fueling the speculation here. now, i want to show you one set of numbers that might give biden a second look at things. a reason why he might be taking a look. this is the honest and trustworthy numbers between him and hillary clinton. quinnipiac university poll from the other day, and you can see that is the edge right now that he has on clinton, and that is a number that clinton has not been able to overcome at least in the last couple months. something to keep an eye on there. stuart: it sure is. thanks so much, indeed. inadvertently i said good-bye to
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chris stirewalt. i shouldn't have done that, because he's still there. [laughter] chris, come back in again, please. >> i'm here. stuart: i hope you heard blake burman, he just got some news there, two biden longtime con my adapts have signed on -- con my adaptings have signed on as advisers, further moving forward the idea he might run. and that poll showed him ahead of hillary clinton 58-37. do you think he's going to run? >> well, yeah. i think he's going to run because of what we read over the weekend from maureen dowd quoting and saying that she knew, new york times columnist said she knew the state of mind of joe biden when he had a conversation with his dying son beau describes that suffering from the effects of the brain tumor, and he makes an impassioned plea to his father. don't worry about the cash, don't worry about getting rich worry about beating the clintons. pow. if that's what he has from his now-passed son, of course joe
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biden is going to run. if that's the narrative, the storyline that joe biden and company have is out there and they're talking to maureen dowd about that i think they're in. and i don't think he'll beat on hillary clinton i wouldn't bet on him but boy he will give her a run for the money, and she'll end up so far left by the time this thing's done bernie sanders will be distancing himself from her. [laughter] stuart: that's very good, chris. i'm glad we didn't say good-bye to you earlier. [laughter] >> i had more, i had so much more. stuart: yeah, you did, and you got it out. that's excellent. thanks chris. the latest grim prediction from the environmental extremists, that's what i'm calling them, catastrophic food shortages because of climate change. they're predicting mass starvation the collapse of society. we turn to a voice of reason in just one moment.
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we live in a world of mobile technology, but it is not the device that is mobile it is you.
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stuart: try this one. new jersey's largest teachers union demanding governor chris christie resign because of comments he made this weekend.
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listen to this. >> at the national level who deserves a punch in the face? >> oh the national teachers union. because they're not for education for our children. they're for greater membership, greater benefits greater pay for their members. and they are the singlemost destructive force in public education in america. stuart: well, that's not the first time that the governor has clashed with the teachers union but liz, he's taken a trump-like persona there. >> yeah. he's trying to get a spot in the gop debates as well, so he's vying for that. taking on the unions is a big theme for the gop party. chris christie really raised the hackles again of new jersey's largest teachers union. they're now demanding that the governor resign immediately. of course he's got going -- not going to do that. this has been a four-year battle that also was ramped up earlier this year when he did not fully fund the state pension system which the teachers don't like.
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stuart: does that statement, bash 'em in the face, do him bad on the national political scene? >> it's a mixed -- i would say, no, because people are still predominantly in favor of teachers and and all the good they do. they don't understand the bad stories that are coming out, certainly new york city and places like new jersey, of the harm and the bad things that teachers do, you know, new york city rubber room -- >> hurts more than helps. stuart: young, ash? >> i think it hurts more. i don't think the national public understands that teachers are hurting children or more focused on cashing out sick days or vacation/sick days. stuart: donald trump can be blunt and in your face, chris christie cannot? >> unless he better explains the story of why. stuart: check the price of oil. that is the story of the day, i believe. we're down to 46.42. we've had eight straight days that the price of gasoline has come down. i'm going to call that -- we're at $2.65 is the national average today, and we're on a downside streak.
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come on in, jeff flock, from a jeep dealership in napaville, illinois. jeff, the story, i believe, is big cars are selling well, very well, because gas can cheap. very cheap. is that it? >> you have got the exact story down, and it's cars like this the grand cherokee. this was up big this month. the jeep cherokee the old wranglers? look at that, that's a willies. do you believe the wilies company -- willies company? these are all up. it gets about 18 miles to the gallon and it's selling like hotcakes you're absolutely right. gas prices make a big difference. stuart: all right, jeff, thanks very much. looks like nice weather. >> beautiful day. [laughter] beautiful day. stuart: i'd take the top down, i really would. thanks very much. how's this for a headline? new research suggesting society will collapse by the year 2040 because of catastrophic food shortages. the greens blame climate change.
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joining us now oklahoma state university professor jason lusk. professor, that was a pretty wild prediction that we got there from the greens. what do you make of it? >> well, this is just another example of a long line of, first, profits and then now scientists going back hundreds of years making apocalyptic forecasts. i think the reality is if you look back over the past 100 years, things have gotten a lot better. we sad scientists -- had scientists saying we were going to have food shortages by the 1970s, and that didn't come to pass. food prices have continued to come down, we have fewer hungry people today than we've had in the past, so over and over again we see these forecasts not coming to fruition. stuart: are you dismissing entirely the idea that the climate is changing and becoming much more extreme to the point where we can't produce the kind of food or the amount of food that we used to produce? are you dismissing that argument
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entirely? >> no, i'm not and i think if you look at most of the science and the scientists would say that we should expect some level of warming in the future. now, whether that warming is going to be dangerous and apocalyptic is much more uncertain. but when you look at these kinds of models that these scientists have put out, what they ignore -- and they admit this -- they ignore the ability of we humans to adapt to that climated change. and i think we have incredible adaptive abilities, and what we'll be able to do in the future is trade with people. we'll have some losers, some winners, and we want to have freedom and flexibility of trade and adapt and innovate in response to the changing climate. >> you know, stuart, bill and melinda gates foundation has supported genetically-modified food. they have said that that is what will help starvation in africa. i mean, the green movement that has been so posed to gmos have falled to acknowledge how gmos can help poverty and help feed the world's population. stuart: professor, liz makes a
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good point there. we've heard a lot about genetically-modified foods and seeds and all the rest of it which really has produced an extraordinary revolution hasn't it in food production? >> that's right. so if we -- people in the green movement really believe these apocalyptic forecasts then we ought to use all the tools we have available and genetically-modified seeds are one tool. we certainly want the ability to be able to have crops that are more drought tolerant more heat tolerant and more tolerant to more water. certainly i think this is one tool. it's not the answer but it's one of the many answers that we'll want to be able to use to adapt and innovate and respond to this changing climate. and i would think of all people the greens, if they're really worried about this problem, they're going to want to have these tools on the table to adapt. stuart: last one. you're an academic. in your institution are you an outlier? are you the only one who thinks this way or what? tell us.
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>> well, i work in an agricultural college, so most of my colleagues are intimately interested in investing in agricultural science and technology and so i think at least among my peers and colleagues when we see these bug problems facing us, what we try to think about is what can we do to provide new technologies, new science to help us address these things. so i see a much more optimistic future among my colleagues because we have the tools to help address these problems. stuart: well, we like a little optimism, especially on monday morning. professor, thanks for join us. a company called soul cycle is getting ready to go public. we checked out one of the competitors. it's called the peloton and you can use it from home. full report next.
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out. if i buy a car through usaa, i know i'm getting a fair price. we realized, okay, this not only could be convenient we could save a lot of money. i was like, wow, if i could save this much, then i could actually maybe upgrade a little bit. and it was just easy. usaa, they just really make sure that you're well taken care of. usaa car buying service. powered by truecar. online and on the usaa app. ♪ ♪
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♪ get excited for the 1989 world tour with exclusive behind the scenes footage all of taylor swift's music videos interviews, and more. xfinity is the destination for all things taylor swift. stuart: the fda approving the first 3-d printed drug product. it's made by a private company and it's called spritam used to treat epilepsy? >> yeah it's really interesting. what they do is they put layers of the powder of the dose or the medicine and bind them with some liquid, and what it is, it creates one of those melt tablets, you know, like you can sometimes take some of these allergy tablets that melt on
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your mouth. that's what these 3-d printers can do, creating a bill, basically, that's easier to swallow for the patient by very finely putting layers of the dosage of the medicine held together by a fluid. and then you can just take -- it's treated for epilepsy, that's what this particular one is used for. but it's an interesting development in the way the medication is made and another application that you wouldn't think for 3-d technology. stuart: intensely precise, which is exactly what you need. >> can deliver exactly the right, precise dose. >> yeah, because there's mistakes a lot of times in dosage agreements right? >> yes. stuart: and this is the first 3-d printed drug -- >> approved by the fda. the first of many i'm sure. stuart: something completely different from that, many cycling companies are trying to capitalize on the success of soul cycle, remember them? they are for those popular spin classes. one such company is peloton. it lets you exercise from your home. lauren simonetti spoke to the
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ceo and checked it out for us. go. >> peloton is a new type of fitness experience where we allow you to take a fantastic high-energy indoor cycling class from the convenience of your own home. >> this is the heart of the business. where this class is going out live streaming for the more than 10,000 subscribers at home. >> when you are at home, you are patched into this class via these five k578 rahs. >> how much does that bike cost? >> just under $2,000. >> expensive. >> but if you do a lot of indoor cycling classes, they cost about $30 apiece. for peloton, you can take unlimited classes a month, $39 a month. >> so tom, if you don't want to spend $2,000 on this bike, you can simply download the ipad app. >> if you have a bike that you're attached to, you can download an ipod app where you're high resistance or high cadence, you follow along with one of our coaches and you can
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easily byrne 700 calories in -- burn 700 calories in 45 minutes? okay maybe it's not that easy. you've got to work pretty hard. we ended up raising money from 100 angel investors. they say, wow that's ambitious, you don't even know if there's a market for this product? >> and you said? >> people want more interactive more engaging, more fun home workouts. >> has anyone tried to buy your company? >> we have had a couple offers -- >> i mean, yeah. soul cycle is valued at, what about $1 billion. stuart: she went out to study the peloton, and she's back with us now. >> i couldn't get one for free. they were $2,000. stuart: that's intriguing. $2,000 -- >> yeah for a bike. stuart: and 10,000 people have bought one, and they're prepared to pay $39 a month -- >> absolutely. >> so they can sit at home and join a class online. >> this is a welcomesly market. it's also -- luxury market. people just love the quick intense 45-minute workout.
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they'll spend the money. the $2,000 bike is actually what the company is more or less spending to make the bike. they don't -- they're not trying to profit off that. it's the best bike, they say that you can buy. but it's the $39 month subscription, which you can share but that's where they're bringing in their money. stuart: one quick question i saw on the screen cadence. what is that? >> it's kind of like the feel. you kind of move your shoulders and you get into a groove. it's that. helps you move the pedals. >> there you go, institute, it's a whole new stuart it's a whole new world. i can see it now. stuart: it was a great report. [laughter] thank you very much, lauren. the true tale of a ceo trying to raise salaries but getting stuck in the reality as the money runs out. we got the story. and the democrats wishing they had their own donald trump right about now. wait until you hear this one.
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stuart: all rights. we are down 55 points. we were down a hundred good oil is roughly a four-month low down $46 per barrel. charles payne. i want to talk about a totally different subject. but the camera back on me for a
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second. donald trump leads the republican pac. he is way up front and makes outrageous statements. people love this guy because of how he says what he says. charles payne however has news about a potential possible democrat trump. the mac the answer to donald trump is howard schultz. it's not a mystery but it's really growing out there. schultz for the last year has been doing a lot of things. dealing with racism and starbucks. the people behind him are pushing him hard. to run. either way something a lot of people say he's wanted to do and think about his qualifications if you will. persona and his his family to go to college as a small company called starbucks and built it into this business. he's a philanthropist. he puts his money where his
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mouth is. last year he wrote a book what our veterans can teach us about citizenship and sacrifice. he is just as wealthy if not wealthier than donald trump. he's the epitome of the american dream. >> is pretty liberal and climate change. but he also raised is prices. >> one thing he will say it is not a bernie sanders. he will also say when i'm done with those and then sending people to college and paying a livable wage. towards the end of the week it was all about joe biden. stuart: who was saying charles schulz is getting at? >> has been reverberated a year
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now. the magazine cover has four boxes in all three boxes were checked. the only one that wasn't president of the united states. [laughter] stuart: we hear you. i've got to move on. we have the ceo of gravity payments on the show in april. just after he announced all its employees would get a minimum of $70,000 a year. financial aid professional -- >> i want to say thank you. you proved in a few months with the disastrous policies proposed would do over the longer period of time. company has imploded his cost of everything. he's had to put up his house right now. his two most valuable employees get down on him. how we pay everyone the same amount? he's proven why this doesn't
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work. in a few months he proven so we don't have to go through this disaster. thank you dan price. thank you very much. by the way if you buy more of this, don't miss making money with charles pena 6:00 p.m. eastern tonight on the fox news network. an interesting headline from conservative alien or charles coke telling $450 this weekend that it's time to give up on lobbying for corporate welfare. no more corporate welfare says the koch brothers. tell me more about this. what is the corporate welfare he is railing against? >> you know this is a full scale affaires by the koch brothers to rebrand the republican party and focus on the fight of the poor. over the weekend in dana point
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california eliminating corporate welfare for the rich, the export import bank, subsidies for businesses and refocusing and eliminating barriers are venting the poor are rising up such as criminal justice reform. stuart: that is the koch new idea of how to generate real support. i am intrigued by corporate welfare. what is this about subsidies of various businesses, tax rates which ones? >> a couple were raised over the weekend. one was marco rubio support and another with scott walker for taxpayer funding for an nba arena in wisconsin and the candidates were asked about these things but it is clear that donors gathered to support the government handouts to the wealthy and large businesses. stuart: it is a rebranding of
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the image. is that it? >> at the larger effort to rebrand the republican party. koch brothers conference's people huddling to figure out how to reduce tax rates and keep more money. the focus of the weekend was fun to poor and eliminating handouts for people like themselves. stuart: what will they do about this other than say it? what will they actually do? >> the koch brothers has an empire that goes from think tank to grassroots organizing. they produced an event part of the push which is one to american businesses and foreign entities as well. on the grassroots level to rally people for this cause is. as well as the donor network has been a huge export import bank.
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stuart: have a lifespan like this or are they responding to people like harry reid who gone after them? they have chased him down. have a polish their image because they've been hit so often by the left? >> you know the difference is their belief has always held firm. but it's happened as part of the result of the vicious attack on them as they've come out into the limelight a little bit. they have reporters and they want to show people what they are doing. that despite the confidence that what happens here is that what harry reid is care arise that. his attacks for this new brand of openness. stuart: they were vicious attacks. thanks for joining us. we appreciate you being here. iran still trying to get the last word in the new deal. a new book by the ayatollah
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shows that they are really thinking.
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>> i am transfixed. stocks are off to the low today. industrial average 56 points at the moment and we are seen and not back has moved into the green territory here. consumer spending up slightly. automakers did well in the month of july. oil below $46 with the lowest
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since march on many energy shares such as exxon and chevron. halliburton under pressure. another group under pressure as the retailers. ralph lauren at a new low coach at a new low. that is over at jpmorgan. 3.5%. michael khorasan asked by 5%. moving to a new high volume growth there. start your day right here on fox business everyday. sandra smith transfixed and i to host your show.
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stuart: college tuition going up. you know that. jerry will assist you with information on one university that cause $42,000 a year. why 42 grand a year? >> your credit flow. at syracuse university, 200 of others so-called managers only manage one person. it is absolutely true. the way that it works on college campuses space out much. they've hired so many people to run their systems if they have very few faculty and a lot of administrators pushing paper. syracuse and we will offer people money to leave. in the real world what you do is fire a bunch of people at move on.
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that is not what is happening here. they offer than half the annual salary to leave by the end of the year. at syracuse, the administrative cost rising twice the level of revenues. fewer people going to school these days. now the 3000 institutions are competing for fewer and fewer people coming through the front door. these are the changes that have to be made. i don't think they're doing it the right way. stuart: glad to see it happening. you've got to cut somewhere i'm not a good place to start. maybe now we get a real glimpse inside their brains thinking over this new deal. the supreme leader ayatollah khamenei has a new book that explains how to outwit america. of course the calls for destruction of israel. fox news contributor rick rendell is here. how come they are coming out a book like this as they signed a new deal with america.
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nothing has changed at all. >> a no there are no consequences if they don't change behavior. since 2006 we've been getting access to the nuclear site. we've been unable to do it. the resolution sent sanctions because they are unable to get access. now with one access we look at these sanctions relief. instead of the security council will take it to a different committee. the ayatollah has been anti-is real all of long. true to his not telling the world how to outwit america. another part of the outwitting of america. >> yankees. what he means is you can use hezbollah hamas, other groups that control to scare jewish out of israel. he says they will be afraid of us moon painful for the rest of
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the world to do business with israel and to be friends. he literally said we want them to understand if you are friends of israel there is a price to pay. is that the country is saying we will deal with. stuart: no wonder benjamin netanyahu is at odds with barack obama. out of the question israel should accept this.this quote. that's out of the question. >> let's give barack obama credit for one thing. he has united israel left right and center against this deal. stuart: i watch her comment. donald trump talking about his taxes this weekend. listen again. >> i pay as little as possible. fi two pairs double as possible. stuart: you run it from a staff in the last election. if he said anything like that comment would've been all over before the november election.
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>> fire back. every single american does that exact same thing. i don't want to pay more money. why would i celebrate more money to the government. i will hire the best people to pay as little as possible. why not take advantage of whatever situation you can. trump gets people. stuart: mitt romney would not do it. he would not come on and go on the attack. >> he has the thing about being the rich guy and wanting to pay more. i think it puts the wrong message. stuart: did you hear that from him? you're within a great deal of time. i don't want to rock the boat. i don't want to come off as a rich guy. back off. stuart: >> he felt guilty about being a rich guy. remember when you said i bet you a thousand dollars.
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most people say i bet you a dollar or $10. his thinking about who he was most different than every man. trump gets people. stuart: you are a farmer get them in. how come you are so fond of donald trump? he's the anti-diplomat. >> when it comes to the u.n. and its leadership in washington is people who recognized the current system is broken. i'm not somebody who is for term limit but we've got to do something about throwing everybody out. most people would say about start over. it's broken. they don't represent me. i am looking at everybody and critiquing everybody. i like what trump says and i don't like a lot of what trump says.
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stuart: by like what you said that? absolutely. these same things in a way people say heck yeah. every single presidential team right now is trying to figure out how to raise on. >> they are all coming up with a one-liner. rick grenell, thank you. a megastar jessica alba taking heat for her sunscreen. i grilled her right here on this site a while back. hear more of this one.
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and learn more about the kinds of plans that will be here for you now -- and down the road. i have a lifetime of experience. so i know how important that is. stuart: coming up to the middle of the day you don't get much price movement. a minor 60 on the doubt for some time. the story of the day check the price of oil. we called the swan $45 a barrel right now. it was in the mid-60s in june. that is down about 20. mega star jessica alba whom i had on this program give her a hard time about her honest companies natural products is now facing heat over her spf 30. they got sunburned while using it. the visual images all over the net. is this damaging her business?
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>> damaging to her business. the sunscreen has 9.3% zinc oxide. that is let's stop sunburn. usually anywhere from 18% to 25% zinc oxide. anywhere from a quarter to less than a third of what she should we have an inner product. social media is ablaze with images. people getting burned because it's very greasy too. stuart: what she's saying? ashley: the number of complaints rep don't complain. someone on the program earlier said if you got out front of this and said we are taking care of this, that would limit the damage. she's retreated to say nothing wrong with that. for >> sounds like she's doubling down. estimated quarter billion by the end of the year for her company.
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stuart: good story. two teenage sisters or new hampshire on a presidential self emission. they want to take a softly with every person running for president. here they are with bernie sanders. or they are with scott walker. they managed to take photos of democrats and republicans. melissa francis will be talking to them after the bell today at 4:00 p.m. more after this.
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>> new york times columnist, and she knew the state of mind when she new joe biden when he had a conversation with his dying son beau describes that he's suffering from the effects of the brain tumor, and he makes an impassioned plea to his father don't worry about the cash, don't worry about getting rich, worry about beating the clintons. pow. if that's what he has from his now-passed son, of course joe biden is going to one. stuart: chris stirewalt on joe biden possibly running for the white house. my time is virtually up, but
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neil cavuto's got the rest of the day -- or certainly couple of hours, right, neil? neil: you know, what proof do we have of that story, right? it sounds like a very good story but has anyone checked it out? it's kind of weird, but that's just me. all right, we are awaiting in the next couple hours the details on a sweeping epa overall of pollution and emission standards in this country -- overhaul of pollution and emission standards in this country. if this rings a bell, it should,. >> has happened before. at least 32% by the year 2030 and faster for some folks. now a lot of states are complaining. we'll be hearing from patrick morrissey, the west virginia attorney general, who says this is way overboard, but it is certainly tanking a lot of coal stocks that have since this first came up been tanking on the news that this is going to hit them further. you might recall that a number of these coal industry ceos have been saying we give up,


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