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tv   Varney Company  FOX Business  February 18, 2019 9:00am-12:00pm EST

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to raise capital gains taxes. >> three income taxes are capital gains. he knows that. charles: thank you very much. appreciate it. that doies it for us. stuart varney, take it away. stuart: you get more ad time on tv than i do. i just can't have that. charles: i get up early. you are too demanding. you want the brown m & ms taken out and all that kind of stuff. stuart: good morning, everybody. the markets are closed but politics is on fire. news on all fronts today. first off, the court fight over the president's emergency declaration about to begin. california along with new mexico, hawaii, oregon, connecticut, minnesota, they will be the first to file suit. meanwhile, the left has called for protests all across the country today. wonder if we will see any mexican flags? and if congress votes to overturn the emergency, the president is expected to veto it. so that battle starts now.
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it's really heating up. mr. trump goes to miami tonight. it's a rally. he will address the collapse of venezuela. he will link that collapse to socialism and then no doubt link socialism to the democrats. it's the opening salvo in the president's re-election campaign, tonight. andrew mccabe appeared on "60 minutes" last night. without getting into the weeds here, it sure looks like the former fbi guy tried to get the president fired, using the 25th amendment. a lot of talk this morning that mccabe led a coup attempt. i did say politics is on fire. how unfortunate the market's closed. friday, the dow finished within 1,000 points of the all-time high and futures showed holding at that level today. investors believe that any china trade deal would take stocks much higher. politics and money. that's what we do. on this presidents day, there is a lot going on. "varney & company" is about to begin.
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stuart: that's a slap. old reruns. the other guys are closed, we are open for business. we have a jam-packed three hours ahead for you. first off, chicago police want to question actor jussie smollett again about that alleged attack on him. sources say police now think smollett paid two men to orchestrate the assault. the latest development is an embarrassment for many democrats who were quick to blame conservatives. senator kamala harris tweeted this was an attempted modern day lynching. no one should have to fear for their life because of their sexuality or color of their skin. we must confront this hate.
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major rush to judgment here. ashley: the social media lit up on this. this is another example of how president trump has created hatred and bigotry in this country and here's another example of someone being attacked for being gay and for being black and using the term this is maga country, make america great again, a direct reference to donald trump. chicago police have not come out definitively and said this is completely false. they have just said the investigation has shifted. jussie smollett maintains that he's telling the truth but there's no doubt there are so many twists and turns here and a lot of doubt being raised about his version of events. stuart: before you start, liz, did you know that in "the washington post" this morning, a writer is saying i wish with every fiber of my being that his story was true. ashley: oh, my god. stuart: she wanted it to be true because that would link the president with violent racism.
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liz: that's an opinion piece. that's not journalism. cory booker initially said it is a quote, modern day bolynching, now he's saying he will reserve judgment until the police report is complete. reports are now coming out this may have been a staged attack reportedly because this actor was about to be let go from the show "empire" and that he reportedly may have paid two associates, friends, to help him stage the attack. one was his personal trainer. i think both of them may have worked on the show "empire." ashley: they did. they both appeared on the show. stuart: the allegation is sources say he paid them to stage and orchestrate this, allegedly, even practiced it before it actually happened, allegedly, according to some reports. ashley: if it was real, it's ugly. if it's not real, it's even worse. that's really what it is. don't make conclusions before you know the facts. stuart: i told you it was happening thick and fast this morning. check money for a start. look at this. stock futures up this morning.
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stock futures are active even when the market's closed. the dow is only 1,000 points away from its all-time record high. come on in, our favorite guy, there he is. dennis gartman, the man himself. okay, the market's closed today, but tell us, when are we going to hit a record high on the dow? >> sometime in the future. it is a bull market. stuart: oh, come on, dennis. you can't get away with that. in the infinite future i dare say the dow will get to 100,000 but it won't be next week. you tell me, 26,800 is the record closing high. when do we top it? >> sometime later this year. it's a bull market. it's gone from the lower left to the upper right. it's been moving that way since december 26th, after the panic selloff of last year. the best that i can tell you, i have been at this for 45 years, so i'm relatively new to it, but to get the direction right is the best that one is able to do. the direction is, it's a bull market.
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so one has to err upon the side of owning stocks. i'm not sure one should be a buyer here, but if you already own them and i'm lucky to own a number, i'm lucky to be long, i'm going to stay long. there's no reason to do otherwise. stuart: is this latest run-up, by that i mean the january and february run-up, is that largely the result of speculation that we'll get some kind of deal with china on trade? >> actually, i think it's more than that. i think it's the fact the fed has clearly changed its policy. beginning in april of 2015 when the adjusted monetary base reached its peak, the fed has been rolling off or allowing its assets to roll down about $50 billion per month. we thought that was going to continue. beginning about four weeks ago, when mr. powell made the first statements otherwise, they have stopped that process, and that was what bothered me about stock prices last year, was that rolling out of assets, that decline in the adjusted monetary base. that has stopped. i think the fact that we are going to get some kind of trade arrangement with the chinese, there's no question we will come up with some new trade
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arrangement, because neither country will be well-served by not doing so, that's just icing upon the cake. i think it's the fact that we are still allowing the monetary base to grow, fuel is being supplied to the economy and to the stock market. stuart: i've got a minute left so i'm going to give you an opportunity to go after socialism. after all, president trump goes to miami tonight to give a speech about the dangers of venezuela and socialism. just let me ask you this question. what do you think would happen to our stock market if, in november 2020, we elected a far left socialist democrat to the white house? >> it would tumble 1,000 points the first day on the dow, it would tumble 1,000 points the next day and it would be a collapse. if we have learned one thing in the last 70 or 100 years, it's that socialism, communism, marxism, is deleterious to any kind of economic activity. it destroys societies, does not give you strength, it gives you weakness. that would be the worst thing that could happen. the problem is they are teaching socialism in our schools. that has to stop.
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stuart: be careful, dennis. professor krugman said that about trump on the eve of his election. be careful. liz: but did he sell all his stocks? stuart: would you sell all your stocks if the left wins in 2020? >> not a question. i did like your story about the changing the light bulbs in the apartment. how many virginians does it take to change a light bulb? one to change it, three to talk about how great the old bulb was. stuart: very good. very good. great start to presidents day broadcasting. mr. gartman, you're all right. see you again soon. thank you, sir. >> thanks, stuart. good to be here. stuart: let's get to china trade. we are, what, ten days from the deadline to reach a deal, that's march 1st. i want to bring in bully of asia author. steven, look, give us a progress report. we hear that some progress has been made, high level meetings in d.c. and beijing. give us an update. where are we?
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>> well, where we are is china doesn't want to make structural changes to its economy because that would undermine president xi jinping's political base. it's all about politics in china. remember, these are not economic decisions primarily. these are political decisions for xi jinping. xi jinping is under a lot of pressure now because people in china are accusing him of losing america. how do you lose america? if you are open about china's aims to dominate the world, if you are open about china's 2025 plan to dominate high tech, if you are open about china's aggression in the south china sea, then you alert not only america and the world to china's global ambitions and thanks to president trump and thanks to president xi, we now know that china has global ambitions, its belt and road initiative, everything else that's going on is aimed towards that. what are we going to get from the trade deal? i think we are going to get some sort of temporary agreement. i say temporary, that may get us through the next -- the rest of the year, but over the long term, make no mistake, we have a
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geostrategic collision with china, a slow ongoing collision. even georgia soros at the davos forum last month said basically we need to declare a kind of cold war on china, lest it become a hot war. if soros himself is saying that to the assembled people at davos, you know that global elite opinion has shifted dramatically against china. stuart: just got 30 seconds left, stephen. the market thinks that stock market vefinvestors think there will be some kind of handshake deal and they don't care whether it's an in-depth deal that changes the structure of china, they don't care. what investors want to see is smiling faces, handshake and a couple hundred billion dollars worth of increased trade. is that what they will get? >> yeah, i think we are going to get something along those lines. it will be a short-term band-aid. over the long term, i would advise people to gradually move
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away from china because i think this ongoing collision is going to continue for years and even decades. stuart: probably true. stephen, we appreciate you being with us this morning on presidents day. thanks for being here. thank you, sir. >> thank you. stuart: check futures again, please. market's closed today for presidents day but we are getting real close to the all-time high. look at that, 25,900 on the futures side of things. joe biden taking a jab at america. that's an understatement. he was speaking to a group of europeans. he says our country is an embarrassment. that's quite a statement from the man who could be running for the presidency. you will hear what he's got to say. meanwhile, freshman congresswoman ilan omar giving a speech before groups who have links to terrorist organizations. why is someone like that on the powerful house foreign affairs committee? we will answer the question for you. we have sad news to report. pat cadell, "varney & company"
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political guest, died over the weekend. he rose to fame when he helped jimmy carter get elected. he was 68. the new capital one savor card. earn 4% cash back on dining and 4% on entertainment. now when you go out, you cash in. what's in your wallet?
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stuart: congresswoman ilan omar will speak at an event sponsored by islamic release usa, a group that has ties to terrorist
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organizations. judy makes a welcome return to "varney & company" this morning. tell us about this group. >> islamic relief, as many islamist groups, do under the cover of aid across the world, also have strong relationship with radical jihadists. countries like sweden, germany, even muslim majority tunisia have called to question their association with jihadists and they also are very affiliated with hamas and other groups. so they had their accounts closed by hbsc bank and by ubs in the uk because of their connections to radical islamist terrorism. the speaker that ilhan omar was going to be speaking to, has been shown repeatedly to be a radical islamist. stuart: should she be on the house foreign affairs committee, in your opinion? >> absolutely not. her world view is incompatible with a world view of what we
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would hope a congressperson should have on the house foreign affairs committee. not only is she grotesquely anti-semitic, her questioning last week of american patriot elliott abrams sort of showed she was actually repeated some of the same comments on al-jazeera the day before. she will be looking more towards anti-americanism, anti-israel platform. no supporter of the global bds movement, a boycott divestment sanctions movement. stuart: i just need your comment on this that's coming at us now. hundreds of isis fight eers wan to go back to their european countries of origin now that isis is beaten. president trump says yes, the europeans should let them go back but then put them on trial. what do you say to that? >> that's a quandary. i talked about it on my podcast
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where i basically said these are enemies of their countries, these are folks that have renounced their citizenship and have declared war on the west, including israel and democracy, but yet what do they do with them? they can't just sort of stay over there. they need to come back and be adjudicated and convicted if they are guilty for their crime of treason, disloyalty and allegiance to a country or group that had declared war on their own state. stuart: great to have you back on the show today. interesting opinion. we welcome that. thank you, sir. see you again soon. take a look at the futures. the market's closed but futures are still active. on the upside, not by much, but we are up about 15 points for the dow. that will put the dow up 25,900. that's a pretty high level. new york city's mayor bill de blasio blasting amazon for pulling out of the deal to build its second hq in queens. begs the question, why would any company want to do business in new york when this is how they are treated? ♪ hoo
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this is staying connected with xfinity to make moving... simple. easy. awesome. stay connected while you move with the best wifi experience and two-hour appointment windows. click, call or visit a store today. stuart: new york city mayor blames amazon for the hq2 debacle. roll tape. >> this was amazon's arbitrary decision. we had an agreement. when you have so much wealth and power in the hands of very few, it does not work for working
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people. i say there is plenty of money in this world, plenty of money in this country, but it's in the wrong hands and amazon is making my point for me. what they did was arbitrary and unfair to working people. liz: oh, come on. ashley: oh, my god. stuart: okay. amazon has agreed to keep its commitments to new york. why don't he have blamed the left wing politicians for all of this? ashley: exactly right. stuart: yes. by the way, amazon even though they are walking away, are going to honor some of the commitments made during negotiations. they are going to partner with more than 130 high schools in new york city for the amazon future engineer program which is terrific. also, with the city university of new york to develop a cloud computing certificate program. those are two very positive things even though they are sayi saying. meanwhile, on the subject of working conditions, alexandria ocasio-cortez went right after amazon. here's what she tweeted. is that culture of strict performance why amazon workers have to urinate in bottles and
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work while on food stamps to meet targets? performance shouldn't come with the cost of dehumanizing conditions. that's why we got rid of sweat shops. okay. how did amazon respond? liz: the executive who runs worldwide operations at amazon said quote, not these claims, aoc, at aoc, simply are not true. we are proud of our jobs, excellent pay, $15 minimum wage, benefits, benefits from day one, and lots of other benefits like prepaid educational program. why don't you come and take a tour and see for yourself. the question is, has cortez ever visited any of these warehouses? they also get cash bonuses of up to $3,000. amazon was criticized last fall and has since changed its compensation structure. stuart: it will never be good enough. alexandria ocasio-cortez has made a catastrophic mistake. ashley: oh, yeah. stuart: where are the workers in her constituency and in new york city? where are they going to get 25,000 jobs with an average salary of $150,000? she opposes amazon because she
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doesn't like big business, big corporations. that's it. liz: reportedly it's idealogical. new york has a $3 billion budget shortfall. people are leaving the state. stuart: right. they are putting their own interests ahead of those of her constituents. she is wrong about this $3 billion. could be used immediately. no, it can't. liz: it's when they hit job targets is when they got the tax credits. stuart: it's tax credit. you don't spend a tax credit. who will come in in the future? why don't we just check futures. the market's closed but futures are active and ever so slightly higher. president trump declaring a national emergency on the border, saying he will get the money he needs for his wall but is he setting a precedent with that emergency? we are on it. more after this. metastatic breast cancer is relentless,
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stuart: okay. look, the stock market is closed today, despite that futures, that futures market, is active. pointing towards a very small gain for the dow, very small gain for the nasdaq, too. but importantly, look at that level. we're only about 1,000 points from the all-time closing high for the dow industrial average. that would be 26,800 and change.
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look who's here. jeff seger. he even works on presidents day. great to have you. >> great to be here. stuart: jeff tends to pour cold water on a few things. when are we going to hit 26,800 on the dow and establish a new high? >> i think we are -- i think we are going to establish a new high basically because ignorance is bliss, and everything that everybody was so concerned about in the end of 2018 seems to have vanished. now we have jerome powell, this rally has his fingerprints all over it. we have gone on with china with the potential pushback of the date which helps the market. we will get upward momentum. my concern is that if they don't come to an agreement on the china trade issue, if they don't come to an agreement on the intellectual property, the market will sell off again. stuart: i disagree with you.
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i don't think intellectual sticking point. i think any deal, just handshakes and smiles, any deal, just a couple hundred billion dollars worth of extra purchases of our stuff by china, that will send the market straight up. they don't care about intellectual property. >> are you probably right. but what i will say -- stuart: probably right? >> you're right. because they don't care but they should care. they should care because if we are going through all this nonsense without -- china has been stealing intellectual property for 30 years and if we go through all this stress and strain without a resolution, i would consider it to be a failure. we need some sort of forward momentum on intellectual property. stuart: but the success of stopping the theft of intellectual property lies in the future, when we check up on what they have agreed to, are they doing it, yes or no. >> exactly. stuart: doesn't come with a moment of a handshake deal. that comes way down the road. >> it does, but i don't think
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they will get to the point where china is going to start taking any initiative. i think there's too much of an upside for them to steal intellectual property. i think they are going to continue to stand their ground and depending on how president trump wants to confront this, that could be the issue. president trump could tighten the screws and really get them to a point where they have to address it and if he does that, i think it's the right thing but it could hurt the market short-term. stuart: you're right on that one. >> oh, wow. so glad i'm here. stuart: i've got more for you, young man. back to you in a second. look at oil, please. almost $56 a barrel this morning. that's the high for this calendar year. gas prices inching up. we now have a national average of $2.31 per gallon. there's a survey and it's from gas buddy.com, okay? these are the people who supply us with information about where's the cheapest gas in the land.
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this survey says point number one, 65% of people say gas prices affect their ability to spend money on other things. ashley: that's a high number, i think. stuart: i guess that's a high number. let's not put too much into this. nearly 40% of people say gas prices affect their mood. okay. hey, patrick, you are the guy with gasbuddy.com. we made you rich and famous. come on the show. good morning. gas prices are still pretty low. what, $2.30 for a gallon of gas is really low. you are writing about oh, we're concerned about gas priceprices? get out of here. >> absolutely. we are always concerned about gas prices. there are really interesting take-aways from the study. if you break your leg, you drive to the hospital but if somebody offered you a free fill-up you would probably stop at the gas station to take advantage of that free fill-up with your broken leg. stuart: get out of here.
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come on. >> the take-away being that most of us are categorizing gasoline as more important to us than our health care. that really tells you that gas prices dominate our discussions, they dominate our lives. 40% of us get upset just by driving by a gas station that we think is too expensive. so much is going into this. stuart: well, look, i admit that my mood is changed when i see the price of gas coming down, down, down, down, down. i'm saving money, of course my mood is more upbeat. but i can't believe that we are downbeat about gas prices when it's only $2.30 a gallon nationwide. that's really cheap. >> it's cheap but you know what's really interesting, even at these levels today, that almost two-thirds of americans still say that still is too high. hopefully you have at least a credit card that has rebates attached to it because that's the one thing here that moif motorists still can do.
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so many credit cards offer rebates. there are so many different ways to save that nobody should really be paying whatever the price on the station sign is anyway. stuart: okay. quick question. we are at $2.31 per gallon now, national average. where are we going for the summer, up or down? >> absolutely up. i think we can see the national average 20 to 35 cents a gallon higher on memorial day weekend but even that seems like a better deal. in years past we have seen the national average go up as much as 75 cents a gallon by memorial day. this year, not such a huge increase but an increase nonetheless. stuart: you are lightening my mood, just barely. >> i'm trying to make you happy. stuart: it's not easy. it's not difficult, either. patrick, thanks very much, sir. great to have you on the show again. see you soon. want to get back to jeff.
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newark is still making a push for hurricanq2 even though amaz it's not interested in moving to another city. but newark wants them. jeff, you do a lot of -- you know what's going on. give me an update on this. >> i even told your show when they committed to long island city, i said leave it to new york, they would find a way to blow it and they did. as far as them coming to newark, newark was the better first choice to begin with. they have continued to talk to newark throughout the process, amazon has. newark being its proximity to the city, the transportation. there is the infrastructure to accommodate them. the state of new jersey, the officials in newark are excited to have amazon. they will roll out the red carpet for them to be there. stuart: they have not said yes. liz: new jersey is offering double the tax breaks of what new york was offering, and it could also, to go to jersey could access new york's talent
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pool. we should add that toronto, dallas, south carolina, chicago, nashville all want amazon as well. critics are saying this is a direct rebuke to cortez and democrats because other cities want them. >> they should be here. newark is in the middle of a renaissance. liz is absolutely correct. some of the best academic institutions in the world are here. the city of newark is making an effort to attract millenials to come into the city. they need to be here. they need to be near new york city. all these other towns that they are throwing out that are not near the biggest consumer base in the world, they need to be here. newark will roll out the red carpet and it will be -- and newark will finally get the break that they need. because newark has struggled for a long time. now they have their chance. stuart: are you the spokesman for -- >> i'm fine to be the spokesman. i will take that job. i love the city.
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stuart: you are a developer. how much land do you have? you are developing projects in newark. you would be vastly helped, would you not, if amazon went there? >> yes. we are investing a lot of money in newark because we believe in newark. we believe that the millenials will find a new home in newark and will find the lives they are looking for. yes, i am putting my money behind the city and we have a project that is going to be very close to where amazon is based and it does help us. but you know what, we are capitalists. and we believe in making a city that has fallen on hard times a better city. stuart: we got your pitch. >> there you go. i'm ahead. stuart: walmart, they report their money, their profits, before the market opens tomorrow. what are you expecting? >> walmart is crucial because keep in mind, you have the retail sales report which was not good, and what i'm really, really focused on tomorrow is what walmart has to say about
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the tariffs. walmart has been coming back and forth at investors with their opinion on how tariffs will hurt them. what i think we'll see tomorrow is we'll see a number that's very mediocre and what we'll see is a warning that tariffs will hurt the consumer. the consumer is in jeopardy right now. stuart: it becomes almost part of the china trade discussion at that point. >> yes. stuart: we will be watching for it. thanks very much for being with us. always appreciate it. thank you. lindsey graham, as in senator lindsey graham, wants an investigation into whether top officials at the justice department and the fbi plotted quote, an attempted coup to remove the president from office. it comes after fbi guy andrew mccabe's interview on "60 minutes." roll tape. >> discussion of the 25th amendment was simply rod raised the issue and discussed it with me in the context of thinking
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about how many other cabinet officials might support such an effort. stuart: now, that's being called and interpreted as a silent coup this morning by some. president trump is tweeting about it. what's he saying? ashley: let me tell you. you would imagine he would have something to say and here it is. he says wow, so many lies by now disgraced acting fbi director andrew mccabe. he was fired for lying and now his story gets even more deranged. he and rod rosenstein who was hired by jeff sessions, another beauty, looked like they were planning a very illegal act and got caught. then he goes on. there is a lot of explaining to do to the millions of people who had just elected a president who they really like who has done a great job for them with the military, vets, the economy and so much more. this was the illegal and treasonous insurance policy in full action. liz: wow. stuart: that's a full-on response. ashley: yes. covers it all, does it not? stuart: as you might expect. it does cover a lot of ground. thanks, ash. stockton, california testing
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out a universal basic income plan. they will give $500 a month to 130 residents. it's an experiment. if politicians like senator kamala harris have their way, it could be going nationwide. we will tell you the full story. joe biden gives a speech in germany and says america is an embarrassment. you will hear what he had to say after this. the fact is, americans move more than anyone else in the world. on average, we'll live in eleven homes. and every time we move, things change. apartments become houses, cars become mini vans. as we upgrade and downsize, an allstate agent will do the same for our protection. now that you know the truth, are you in good hands?
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stuart: all right. futures pointing ever so slightly higher for the dow industrials, closed today but will open up tomorrow. got it. former vice president joe biden criticizing the current state of politics in our country while he was in europe over the weekend. roll tape. >> the america i see values basic human decency, not sma
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snatching children from their parents or turning our back on refugees at our border. americans know that's not right. the american people understand because it makes us embarrassing. stuart: he was in europe, germany, when he was making those comments. come in, james carofano with the heritage foundation. what do you make of those comments? >> you have to understand where this is. this is the munich security conference run by the elites of europe basically for the elites of europe. it's always been a trump hatefest. they have never invited people to give both sides of the story. they invited american officials so they can berate them. essentially, biden came in and joined in the fun of basically bashing the president. i think if he just said i hate trump, everybody would recognize it for the partisan speech it was. matter of fact, focusing on border security in america which
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has really nothing to do with trans-atlantic security, is just another clue this is just biden making a partisan speech in germa germany. stuart: extrapolate out for a second. does what he said hurt us on the world stage? >> well, if you read all the headlines, it's all about, you know, the community breaking down and america losing its leadership and agreeing that america's an embarrassment. then if you actually look at the policy, it's completely disconnected. america is leading on withdrawing from the international -- from the intermediate range nuclear forces treaty. europe is all in on that. america is leading on venezuela. europe is in on that. the europeans get that iran is a problem. europeans are coming around on that. they get that china's a problem, the belt and road is a problem. europeans are joining that. so really on all the big issues, america is actually leading and many of the europeans are actually agreeing. but they hate the populists, they say trump as part of that,
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so it's just an opportunity to bash trump and biden essentially is abetting this. stuart: what do you think of president trump declaring a state of emergency on the border? was he right to do it, in your opinion? is there a crisis on the border which justifies emergency declaration? >> there's no question that there are problems on the border, that congress refuses to fix and these are problems that are absolutely threatening public safety and security, and the argument against that, that this is not a problem here, are just false on their face. look at drugs. you say all the drugs are coming through the port of entry. that's just nuts. we catch the drugs coming through the ports of entry because that's where we actually look for them. if you look at the intelligence from the border, from the border patrol and cbp, there's lots of efforts to move drugs through other places. as a matter of fact, what they do is run the families through one place on the border so all the border patrol people run there, then they run drugs through another place. these arguments that there's not a problem on securing our
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border, i mean, those are simply just like biden's remarks, those are simply partisan comments, they are not objective assessments of what's actually going on for american security. stuart: in your assessment, there is a crisis on the border, so the followup question has to be therefore, is emergency declaration justified, in your opinion? >> well, i think the lawyer guys where i work at heritage foundation say it's likely legal. it is the worst of the bad options that the president had. the building is burning down and to just say well, you know, we can't use the bucket brigade because it's unlawful to use the fire department, that just doesn't cut it. stuart: got to do something. james, thank you for joining us. we appreciate it, as always. thank you. how about payless shoes? that's a significant retailing story right here because they are going out of business. i think there are liquidation sales? liz: that's correct. all 2100 u.s. stores out of business, including the internet
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operation. they will remain in latin america in business. this started in 1956. it once was the largest footwear chain but now is joining toys "r" us and gymboree. there's a bit of a back story here. it went through a leveraged buyout and the private equity crowd put a lot of debt on it and couldn't handle it. stuart: you couldn't say it was amazon and online selling that killed them. liz: the debt load. stuart: the buyout, the debt load. liz: retail story across the board. stuart: you're right. thank you, liz. the los angeles kings are a hockey team. they have a new app that helps you figure out if that expensive piece of sports memoribilia you want to buy is actually the real deal. interesting stuff, actually. we will tell you all about it after this.
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stuart: the los angeles kings, the hockey team, going after fake sports merchandise. they've got a new app. you scan sports merchandise that you might want to buy and the app tells you whether this is authentic or not. kelly cheeseman is chief operating officer for the kings and with us now. sounds great, but how does the app know if the clothing is legit or not?
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>> well, that's where the augmented reality and the block chain actually come together. the augmented reality allows you to verify the physical good and the block chain tracks the ownership data all the way through the process. stuart: okay. try to take me through this. suppose i'm thinking of buying a michael jordan jersey. i get your app and i put the app, what's the word here, i point my little camera at the jersey, and -- >> smartphone. stuart: it is a smartphone. i'm advanced. your app will say that's jordan's jersey or not jordan's jersey? that's how it works, right? >> that's correct. it verifies right there with the augmented reality, it pops up, you get a physical video that pops up on your phone and verifies that it's real. once you are the owner of that, it locks it into the block chain and verifies you're the owner all the way through.
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ashley: what about liability if you get it wrong? stuart: yes, liability if you get it wrong. >> then you know the person who sold it to you is lying to you. stuart: supposing the app gets it wrong. >> supposing the app gets it wrong? i don't think the app's going to get it wrong. stuart: is there a problem with fake sports memoribilia? >> yeah, absolutely. when you are talking about high end merchandise like that or such a high retail price, you need to know it's real. holograms and certificates of authenticity can be duplicated so this type of technology is a new way to really verify the high end merchandise value. stuart: why did the l.a. kings hockey team come up with this very high tech app? why you? >> we are able to partner with our partners at pro xt to put this together. we started this in-house a couple years ago after we won
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two stanley cups and really want toed make sure we provided a high end level of authenticity with that. so when you are talking about just creating certificates of authenticity in your office versus using technology like this, it really changes the game. stuart: was that, after you had won the two stanley cups, was there a problem with fake memoribilia, people saying the l.a. kings guy wore this jersey and he didn't? was that the problem? >> yeah, there's definitely fraud out there in this world. we wanted to, as we took this business in house, we wanted to make sure we brought a whole different level of game to this. so it was something that we looked at for a long period of time and were creating certificates of authenticity in house versus having this type of technology in our hands, it was really important for us to change the game a little bit. stuart: kelly cheeseman, the man with the app that always works. kelly, thanks very much for joining us. we appreciate it. happy presidents day to you,
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lad. thank you. how much does it cost to change a light bulb in new york city? sounds like the start of a really bad joke, doesn't it? it is not the start of a bad joke. it's a warning as to what might happen if the democrats have their way on the green new deal. my take on that is next. this is decision tech. it's screening technology that helps you find a stock based on what's trending or an investing goal. it's real-time insights and information, in your own customized view of the market. it's smarter trading technology, for smarter trading decisions. and it's only from fidelity. open an account with no minimums today.
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stuart: in new york city, the light bulbs in 23 howing
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projects are being changed, switching from the old incandescent bulbs to leds. you wonder why we are spending time discussing light bulbs. here is why? it costs 1973 for each apartment, to change the light bulbs. i will repeat that, it costs $1973 in each apartment. that is because light bulb changing must be done by unionized electricians who make $81 in base pay and $54 in benefits per hour. total cost for the light bulb switch in 23 projects? $33 million to change the light bulbs. those outrageous numbers are reported by "the wall street journal," a great editorial. this is editorial, not about the high cost of union labor, no it is not. it is about the green new deal. the green new deal demands
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refitting of every single building in the country for energy efficiency. if it is 2,000 bucks per apartment to change the light bulbs who could possibly calculate the cost of every structure in america? what it comes to your building, don't think you can avoid high-priced union labor. the green new deal, demands high-quality union jobs that pay prevailing wages. light bulbs are not only the energy problem for new york the empire state will not allow drilling for natural gas. even though new york sits on vast amounts of it. is it will not allow pipelines to bring gas from neighboring pennsylvania where it has created 100,000 jobs. energy prices are rapidly rising in new york. another preview of the green new deal, which wants to phase out nat-gas and oil in 10 years. you get the point. light bulbs, fracking, pipelines
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or fossil fuels the green deal is economic nonsense and politicians that promote it are in danker of ridicule. the second hour of "varney & company" is about to begin. ♪ stuart: well you may be fixated on $1973 per apartment to change a light bulb. ashley: you should be fixated. stuart: what do you think of this? ashley: outrageous. get rid of the rats, mold, lead paint before paying nearly 2,000 per apartment. liz: and the crime. i love one person quoted who lives in the projects, i can change it myself. why do i need the government to come in and do it. give us a rebate, do it ourselves. stuart: extrapolate out the point with the green new deal. the green new deal does say clearly every single building in the entire country. ashley: from one light bulb we get the sense how much it would cost to do this.
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absolutely impractical plan. ridiculous. liz: the green new deal could not even control their own website. how will they do over 143 million buildings in this country in 10 years time? stuart: astonishing. any politician running for office, presidency of the united states, how could any politician give any support to something like that? i don't get it. i really don't. why don't we bring in keith physician gerald, money map press chief investment strategist. what do you think about the green new deal. forget stocks, making money, the green new deal, have at it? no unfortunately economic literacy is not a prerequisite for getting elected. no wonder, these guys can't balance a checkbook, how will they change a light bulb. stuart: were you astonished, $1973 for one apartment in new york city from the housing authority? >> yes. my jaw dropped.
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i got to tell you. can you imagine how different this scenario will be give you per price, per apartment. any company wants to bid it, finish this ahead of time under budget get as bonus? you imagine how different numbers would look? stuart: radically different. wait a second, amazon, as you know scrapped its plan to open a second headquarters in new york city. this send as a bad message to businesses that might open up here. one of the reasons opponents cited, opponents of amazon cited, look what they have done to seattle? you live close to seattle, don't you? >> well, yeah, but you know here's the thing, stuart. there are 9,000 jobs on offer here in seattle for amazon alone. amazon is looking for alternate headquarters because the seattle city council got to negative and aggressive. no business in the world has to accept a bat deal. money, unfortunately politicians, money flows like water where it will be treated
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best. stuart: what was that, 9,000 amazon jobs near where you are, going unfilled, is that accurate? >> if my memory is correct, last time i looked, 9,000 jobs on offer for amazon alone in this city. stuart: amazing. let's get serious about money. trade talks with china, apparently will resume next week, resume in washington this week i should say. there may be a summit. xi xinping, president trump. so, keith, this is my opinion. i think any deal of any kind, as soon as it is announced the market goes up. what say you? >> absolute agree. i think the deal is a lot closer than portrayed in the press. the reason comes down to translation. the chinese word for hopeful, picked up in english, hopefully a trump agreement, conveyance of optimism. we have to culturally portray we're taking a hard-line but i think the negotiators are actually a lot closer than
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people think. stuart: is that why the market as the dow industrials, got within 1000 points of the all-time high friday and futures point a little bit higher today? >> i believe that is a good chunk of it. traders know they have to be in when the scrum starts. you can't wait for a pullback in the environment driven by computers. stuart: we always appreciate it. stuart: keith. thank you very much indeed. >> thank you, stuart. stuart: president trump declare ing a national emergency over border. look between steven miller and fox's chris wallace. >> 80, 90% don't come across unfenced areas. ports of entry. those are the customs and border patrol numbers. >> that is what we -- >> problem with the statement apprehending 80, 90% of. you apprehend most contraband at tsa checkpoints in airports.
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stuart: joining us, tom homan, former acting i.c.e. director. >> thanks for having me. stuart: as you heard there, there was a statement made that 80 to 90% of the drugs coming in here through ports of entry, not through open areas on the border. another statement suggested that since the year 2000 illegal crossings have gone down 90%. bearing in mind those two points of view, those two facts if you want to call them that, is the justification for declaration of emergency? >> well you got to look at that date, democrats are spinning the data fit their agenda. let's talk about most drugs are seized at port of entry. look, a lot of drugs are seized at port entry. you have to ask yourself why is that? if you have been through a land port of entry at southern border, every week is stopped. 100%. every person is stepped and questioned for citizenship. of course when every vehicle is stopped, choose whether to search the vehicle, every
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person, you will find more drugs, because you have 100% coverage. yeah a lot of drugs are seized at port of entry. which should raise alarm what is happening between the ports of entry where there is not 100% check? a lot of vehicles cross through the border through barbed-wire fence and never checked. border patrol don't arrest everybody. everybody hoe thinks is ports of entry are not a vulnerability, they're ignoring facts being presented. stuart: is it true since 2000 illegal crossings dropped 90%? >> illegal crossings down from early 2000s. i was a special agent working for i.c.e. then. you got to look at population. more people crossed but 90% of them were mexican nationals who were voluntarily, vr, voluntary returned. signed a paper i go back to mexico. many were back in mexico within an hour or at least that same day. 90% of them. but now what you have is a
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smaller population granted but now they have found loopholes in asylum claims. i talked about it on many shows. uacs, most of them claim a sill lump, 93% were loser cases, only 2% leave. what happens, grass are coming across. not being returned. most get to stay. when they get to stay, don't remove themselves ordered by immigration judge entices more people to come. we have to look at the population, families and uacs, come across the border, cartel control everything on northern mexico border. move families through one sector to move drugs through another sector. because border patrol assets are tied up that is what makes the border security issue ha national security issue. it isn't the numbers, makeup of those numbers. stuart: tom homan, thanks for coming in on president's day, always appreciate it. >> thanks. stuart: much more coming up. we are here. our competitors do not wish to
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compete with us today. so we're live and they're not. president trump says president obama was so close to war with north korea. trump has another summit planned in vietnam later this month with kim jong-un. where is the progress from north korea on denuclearization? we will ask that question. i say the markets are going to go straight up if there is any kind of deal with china, even just superficial. question, is that good for america however? fox news's howard kurtz breaking news over the weekend in the battle between amazon's jeff bezos and "the national enquirer." we'll let him spell out that news for you. you're watching the second hour of "varney & company." ♪ what if numbers tell only half the story? at t. rowe price, hundreds of our experts go beyond the numbers to examine investment opportunities firsthand. like a biotech firm that engineers
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stuart: president trump says president obama was close to war with north korea. roll tape. >> when i came into office i met right there in the oval office with president obama and i sat in those beautiful chairs. i said what's the biggest problem? he said by far north korea. i believe he would have gone to war with north korea. i think he was ready to go to war. he told me was so close to starting a big war with north korea. stuart: get some more on this. here is van hipp, american defense international chairman.
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van, welcome to the show. has north korea done anything to denuclearization? >> well, steve began, special on very for president trump to north korea, made a speech last month at stanford. didn't get much play. two things caught my attention. he said number one, the north koreans committed to dismantle their nuclear and ballistic launch facilities. that didn't impress me. some of the satellite photos i have seen suggest they could easily reopen those. however what did get my attention, the north korean agreed to destroy the plutonium and iranian one enrichment facilities. pongyong that is their major rescience facility. if this is true, he said this at a public forum last month, this is huge. stuart: is that why there will be a second summit in vietnam at
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some point, to show the world, to prove there is major progress own plutonium? >> i believe it is. the president and his special envoy have made progress last couple months. the president did a tweet with steve in there in the oval office. it was a message to the north koreans, hey, my special envoy has got my attention. the president for the first time has been engaged in this threat. the traditional approach, we tried it, and it didn't work. we needed something unconventional. i know the bloviate and pontificate don't like this president but he gets results. stuart: north korea is china's client state. nothing happens in north korea that china doesn't approve of. if they don't get rid of plutonium facility, china has to approve of that, is that part of
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china trade negotiations? >> could very well be. this is complex international chess game, there are so many moving parts and pieces. i believe vice president pence's speech at the munich security conference, he called on those countries who have been awol standing with us against iran. i think that was part of it too. why? iran has been the other great enabler who financed kim jong-un and his father with their ballistic missile activity and the nuclear capability. stuart: so what you're looking at here, is something, sounds real positive. if the summit with kim jong-un does something about their plutonium facilities and the summit, if there is one, with xi xinping does something about the trade problem, you've got yourself an overall deal here that is a major proportions if it works out like that? >> that is what you call a real pathway to denuclearization. another thing we're learning, stuart, the administration,
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there have been several press reports to this effect, they believe a road map will come out of this with a step by step approach to that verifiable, denuclearization effort and the things that must be done on both sides. i think, from the body language and the things we're hearing, look, this president is not going to be hoodwinked. he has got the a-team. he has secretary of state pompeo and john bolton. those are two tough national security hawks. they get it. this president will be prepared. stuart: just fascinating. van hipp, don't be a stranger, come back soon because you have good information. we appreciate that. >> thank you, stuart. stuart: president trump heads to miami later on today. he will give a rally-style speech we believe. he will take aim at the crisis in venezuela. he will, this is what i think he will do, he will connect venezuela's collapse to socialism and then connect socialism to the democrats. my take on that, coming up at the top of the hour. a big guest coming up on
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"the evening edit" with our liz macdonald, former ambassador to venezuela patrick duddy will join her. tonight 6:00 eastern on the fox business network. liz: thank you for that. stuart: you're welcome. ♪ - in a crossfit gym, we're really engaged with
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who we are as people and making everybody feel welcome. ordering custom ink t-shirts has been a really smart decision for our business. - [narrator] custom ink has hundreds of products and free shipping. upload your logo or start your design today at customink.com. stuart: colin kaepernick's lawyer making a bold prediction which team will sign him next. who? ashley: well he said three, but was cut off before he could tell the third one. anyway, how about the carolina panthers? eric reed who joined kaepernick in his protest during the national anthem, he signed a three-year extension in
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carolina. maybe kaepernick could land there. this is another one, this may be news to the new england patriots. the patriots might sign him. stuart: that is kaepernick's lawyer saying this? ashley: that is of course kaepernick settled a collusion suit with the nfl last week. now the question becomes, he is 31, he still wants to play, who will take him? his lawyer is talking him up, how about the panthers, how about the patriots? we shall see. stuart: you are not supposed to say this, only time will tell. ashley: only will tell yes. stuart: how about the daytona 500. there were five crashes overs last 21 laps. biggest one happened with 21 cars. ashley: look at this, oh, my god, 20, 21 cars, involved, thankfully no one hurt. paul menard tried to nudge
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around him. that created a mess. denny hamlin. look at this. liz: terrifying. ashley: nobody was injured. stuart: that speaks level of safety -- ashley: winner was denny hamlin. >> they come close within inches. how close they drive. ashley: 200 miles an hour. stuart: to have nobody injured after 21-car pileup, extraordinary. good. that is what we want to see. chicago police want to question jussie smollett about that alleged attack. police think he paid two men to orchestrate the assault. you won't believe how much time the networks spent on the story, especially beginning of it. one of the anchors never even said the word alleged to describe the attack. they wanted it to be true. we're on the story. three to 5% growth for america's economy, permanently? really? our next guest says there is no reason why it shouldn't happen.
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he is here to make his case. ♪
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♪ ♪ i am the egg man liz: the walrus. stuart: this is irresistible on president's day. extraordinary choice of song
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there. we'll do walmart, right? yes. walmart reports their number, profits, whatever, tomorrow morning before the market opens. liz: the key factor is tariffs, whether or not walmart gives indication it can pass prices along to customers. 137 billion in revenue. that is whopping big number. walmart had good christmas season up 7%. refund check issue, with the irs, will that hurt it? watch walmart. it is trying to get more high-end shoppers in. high income shoppers. stuart: what it has to say on tariffs will i think be very important for the china trade story. a huge retailer f they say those tariffs are killing us, or they're damaging us, not making as much money, that puts pressure on the deal. liz: whether or not they can pass the tariffs on to, because of low cost prices. stuart: we'll have the news
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there for you 9:00 tomorrow morning as soon as they report. i want to bring in -- i want to talk facebook for main. ray wong, constellation research founder. ray likes everything in technology except facebook. he always has been lukewarm on facebook. now i think, ray, you think it is going down from here, closed at friday 162. you think it is going down from here, right? >> i do, actually. how are you doing? i think it will hold the 160 to about 2, 3. a lot of scandal to be unearthed. a lot of privacy concerns. ad revenue, i think there is lot of pressure on them for quite some time. stuart: the one big tech you don't care for that much, facebook, you say it is going down from here. let me move on to netflix. i know you like netflix. i think you believe it is going to $420. 356 now. you think it is going to 420 by end of this year. are you worried about disney coming on with the streaming service to compete with netflix?
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>> i'm actually more worried about "fortnite." it gets 40 million users, monthly active users, i'm more worried about grand theft auto than disney. it is about where people spend their time. we expect 300 million subscribers by 2028. there is a lot of room to grow. we think there are a billion subscribers by 2028 on streaming services. a. stuart: billions of subscribers by end of the decade? 2029? >> 2028, we expect a billion stream be subscribers around the world. stuart: revenue of 12 to $15 billion a month if they get that kind of subscriber list right? >> billion total streaming movie subscribers. stuart: that is huge. tell me about amazon, they're putting $11 million into electric pickup trucker. you think amazon is going to
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2,000 by the end of the year. are they a little late getting into the electric car game? >> no, we're beginning of ev revolution. this truck is amazing, zero to 60 in three seconds. can handle up to three feet of water. you're looking at like payloads of 1800-pounds. so they figured out this truck to put it out. you have gm going after this. they haven't invested it. 700 million from amazon. every tech company wants to be in the electric car business. google trying to be in there. waymo. this is the next big opportunity for big tech. stuart: gasoline, $2.30, you really think the future is guaranteed, electric cars, really? >> i don't don't necessarily feel the future is electric cars, regulation and regulatory compliance is unfortunately moving into the ev environment. assuming that ev will be more environmental than gas cars. we'll have to find out. manufacturing process, the way
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you get to the battery and disposal may be more harmful than people realize. stuart: let me sum it up. facebook goes down from here. 162. you think it goes down. netflix you think goes to $420 a share by the end of the year and amazon goes back to $2,000 a share by the end of the year. have i got it right. >> i got it right. i'm up here for big tech. stuart: yes you are. ray, thanks for joining us this morning. always appreciate it. >> all right. stuart: i want to get to the state of the economy or future state i should say. we have a guest who says there is no reason why we, america, should not be growing at three to 5% a year permanently. that is quite a forecast. brian dimtrovich laffer center of applied economics and forbes columnist. that is quite a forecast. make your case. >> stuart, we have to relearn the history of the 2,000s, we were growing 4% in the no
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problem, 1980s, 1990s. we had a fake tax cut in early 2000s we didn't come through with permanent lower rates. we had big government spending. the beginning of the tariff boom with the steel quotas of the 2000 two. we have to unlearn all the history to get back to the normal which is four or 5% growth. stuart: are we in a position to be in a normal position now, four to 5% growth? do we have to cut more taxes or what do we have to do? >> yeah, i mean the tax rate cuts right now technically are impermanent. if we have permanent low tax rates, get the 5 trillion-dollar government down to 3 trillion if we have tariff reform, free trade, monetary reform towards something like fixed exchange rates, a stable dollar there is absolutely no reason the historical norm of the united states, 4 to 5, 3 to 5% growth can't continue well into the 21st century. stuart: you're not saying this is going to happen. you're saying it happens three
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to 5% growth if this, this, this and this happened. a lot of it is predicated on president trump getting a second term and cutting taxes further. >> i think the american economy has its own natural dynamics. when government wants to impose something on it, those dynamics are knocked off the course. the natural course of the american economy is to grow at historic rates. the government has to be very activist to prevent that from happening. anytime there is opening through lower tax rates, tariff reform, monetary reform the economy can take off, recapture the permanent course. stuart: what do you think the odds are we get tax reform, monetary reform, et cetera, et cetera? what are the chances of this gold goldilocks scenario actually happening? handicap it for us. >> the chances are baked into our history. that is the standard in the american economic experience. we saw what the corporate tax rate, we've been talking about that for two decades.
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we got it, all of a sudden the first 3% growth year in 12 years. all you need is a little bit and the american economy takes off. if we move toward fixed exchange rates, sound dollar, tariff reform, you will see a down move, and economic statistics really power forward on historical norm. stuart: let's hope the green new deal stays on paper and nothing more. brian, thanks for joining us, sir, always appreciate it. >> great, stuart. stuart: the new york police department says, it wants the authority to take down drones. ashley: they do because as we know, seen in gatwick airport in the uk these things can cause havoc but the nypd is very concerned about terrorists getting ahold of these things. maduro in venezuela, there was an attempt to assassinate him with explosives carried by drones. last year a law was allowed that allows federal authorities to disable drones but not local city police.
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the nypd says this is a unique city. we have many areas we need to protect. we need the same capabilities with the feds dealing what we consider threatening drones. shoot them down or whatever it takes to bring them down. the number of drone incidents are going up and up. in new york city it was three in 2019. 2017 it was already 530. it is becoming a major problem. they want more authority to shoot them down, do whatever it takes to get them out of the air. stuart: they want the authority to do it? ashley: yes. stuart: we don't know how you shoot them down, knock them out of the sky. liz: there could be collateral damage. stuart: they want authority? ashley: they don't have it now which is interesting. stuart: i give it to them. ashley: whatever it takes. stuart: billionaire bill gates has a way for rich to pay more. that would be hike the capital gain tax. i say he is free to write a check to the treasury anytime he likes. we'll bring up the subject again
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for you. howie kurtz brings up news about the battle between amazon's bezos, with "the national enquirer." he considered buying "the enquirer" to shut it down. ♪ then went beyond. beyond chasing down network problems. to knowing when and where there's an issue. beyond network complexity. to a zero-touch, one-box world. optimizing performance and budget. beyond having questions. to getting answers. "activecore, how's my network?" "all sites are green." all of which helps you do more than your customers thought possible. comcast business. beyond fast.
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♪ ashley: market watcher dennis gartman said the market cost approach record highs sometime in the future but he doesn't think now is a good time to buy or sell. roll tape. >> it's a bull market. it has gone from the lower left to the upper right. it has been moving that way since december 26 since the panic selloff. best i can tell you i've been at this 45 years, i'll relatively new to it. to get the direction right is best one is able to do. the direction is the bull market. you have to err on the side of owning stocks. i'm not sure one should be a owner, but if you're a owner, i'm lucky to be long, there is no reason other than to stay long. there is no reason to do otherwise. ♪
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stuart: let's get to the drama and there is real drama between amazon's jeff bezos and "the national enquirer" publisher david pecker. our next guest broke news over the weekend. howie kurtz, "mediabuzz" guy is with us. what are your sources telling you about bezos and "the enquirer"? >> very ending tangled negotiations and legal threats
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on both sides after the initial "enquirer" story exposing bezos' affair. really cloak and dagger. jeff bezos through an intermediary arranged for exclusive photos and behind the scenes quotes about his girlfriend for another american media publication, "us weekly." in exchange the people at american media, parent company at "the enquirerer" provided advance copy secretly of the next week's "enquirer" it wasn't about bezos, it was about george clooney and his wife, to show they were backing off for the time-being. a bit of a cease-fire took hold. stuart: a cease-fire. when will they start firing again? because there appear to be at odds? what was that about, maybe, bezos just buying them for a billion dollars and maybe shutting them down? >> yeah. jeff bezos talked openly with his inner circle about, you know, he has a lot of money. spent a billion dollars, maybe more, to buy american media, shut down "the enquirerer."
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cast it as a blow for good journalism, but beef up other titles, men's fitness magazine and some of the others, ultimately they decided that would be too risky. the talks blew up when bezos accused the company of blackmail. even people on the american media said, well, that was pretty shrewd pr mood. he led us into a trap. we thought we were negotiating. because we talked about the x-rated pictures he is accusing us of blackmail. stuart: what a mess. as the media buzz guy, you're the critic of the media here, that is your business, what you do, what is your comment on what appeared to me to be the extreme rush to judgment in the jussie smollett case? when he was first reported he was attacked, seemed to me all kinds of media people jumped on it, assumed that was absolutely accurate, never said the word alleged at all? >> certainly some who did that, including some of the 2020 presidential candidates but i think most mainstream news
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organizations were actually fairly restrained. i mean actor on a hit fox show, you have to report the allegations. the chicago police were taking it seriously. you had to report that then when problems came up in the investigation, you know, why did delay calling the police? why didn't he turn over his phone right away, those were reported too. you and i just about everybody thought something did not smell right on the case from the very beginning. that is not enough to go on the air to write a story, he is making this up, even though now it is taking a twist. these brothers apparently paid by him to stage this attack. we didn't have enough evidence to say that a week ago, stuart. stuart: someone writing in "the washington post" today, it is an op-ed, saying i wish with every fiber of my being that the story was true. the implication is, that the writer wanted to associate racist violence with president trump because there is talk of the maga country and n word and all rest of it.
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what is the definitely going on with that? she wanted it to be true? >> what a crazy twisted world with people like this, others it would be great if just at this smollett was beat up, because the maga comment alleged attackers who appear to be in collusion with him. that would be a great thing, but gee, he wasn't hurt. what a bizarre thing turns out the case for him to be done making these claims. stuart: my judgment is the media overall has lost its head in its contempt for the president. i think they have gone overboard and i think they are unprofessional. are you with me on this. >> i will say this, anytime there is trump, remember the could have spring high schoolkids with the maga hat, anytime that element is interprojected, seems media get overheated, anything to suggest that donald trump is creating an atmosphere where other people can be attacked even though the president has nothing to do with
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it. to that extent i'm with you on that. stuart: thank you, how which for being with us. happy presidents' day, lad. i say the markets go up if there is any kind of deal with china. that is my opinion. even if there is a superficial agreement. that is what happens. but would a superficial agreement be good for america? i will talk with someone who advised the president on trade with china. ♪ great news, liberty mutual customizes- uh uh - i deliver the news around here. ♪ sources say liberty mutual customizes your car insurance, so you only pay for what you need. over to you, logo. ♪ liberty. liberty. liberty. liberty. ♪
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stuart: the market may be closed but we're getting news on apple. shaking up services in artificial intelligence, hardware and retail divisions. the changes led apple to put several projects on hold. we'll find out how the market reacts to this tomorrow when the market reopens and apple's stock is trading again. very interesting. more talks with china later this week in washington. trump, xi xinping maybe next month. it is all up in the air. curtis ellis, trump campaign
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advisor. curtis, a lot of people think there will be a superficial cosmetic agreement, a handshake. that nothing will be done on the important areas of stealing intlex all hardware and stealing property. you think that will be a disaster? >> this is the last chance for china to show they are serious about making a deal. this is what the president was briefed on. this is what the president understands with the mar-a-lago meeting on saturday. the president said to me, a bad deal is worse than no deal at all. that is one of the trump precepts in any deal-making and any negotiation a bad deal is worse than no deal at all. a nonexistent memo of understanding with no enforcement, no timeline, and no way to actually address the the
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he would get savaged from the left and the right, you would see schumer and pelosi and sherrod brown and seeing marco rubio attacking him from the other side. stuart: how do you know that is memorandum of understanding? >> there is no memorandum of understanding that is what they have to write this week. if china thinks it can just get a deal, we're buying more soybeans, we're buying more natural gas, we'll turn america into a resource colony for china that is exactly what that does as i have written about, that is not going to cut it. this is the last chance for china to show they are serious. and look turning america into resource colony is not good for the market. we don't need a bad deal. the stock market doesn't need a bad deal. america doesn't need a bad deal. stuart: i don't think the stock market cares about the good or
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badness of the deal. they care about a deal is what they want. >> that is shortsighted thinking. america, the stock market has done well -- stuart: are you predicting when this memorandum of understanding is written -- >> if it is written. stuart: if it its written, when it is written it will not contain language about stopping intellectual property theft? >> let me say this, china's friends in america, they have many of them, many of them on wall street, have failed to convey to the chinese leadership just how serious the president's resolve is. they have been putting out all this happy talk. they have been concentrating trying to persuade the president, oh, you need a deal, oh, you need the deal or the market will tank. they think that will sway the president, they failed to convey to the xi xinping and his coterie, that the president is serious about this. this is the abs weakness about the totalitarian system. you have absolute mon mark, everybody wants to curry favor
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and don't want to deliver the bad news. stuart: you know for a fact, talking to the president about this, he will not sign what he thinks is a bad deal? >> president is serious about making a deal. he knows to shift focus for a moment, politically, this is one of the issues that got him elected and will get him reelected, if he gives in on this, he can't sell it. he cap sell it to marco rubio on right where they can attack him or pelosi and schuler. this weekend he said he will bring schumer and pelosi in on the deal. they will not sit and sign off on superficial deal to give cover for the president. stuart: thank you, sir. president trump is going to miami later today. he will deliver what i think will be a rally-style speech. he will take aim at socialism and the disaster in venezuela. i think he links socialism to the democrats. i think this is the opening
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salvo in his 2020 presidential campaign. you will hear all about that in my take at the top of the hour. ♪ it's absolute confidence
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stuart: today, president trump heads to miami for a rally-type speech. we are told he will take aim at
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the disaster otherwise known as venezuela. he's taking aim at socialism, really, because he knows the democrats are tilting so far left they will be the socialist party of america by the time the 2020 election rolls round. he's beginning to fire the opening shots of his campaign. he knows he's found a target. fresh evidence that the left would drift appears every day. candidate kamala harris has revealed a plan to give everyone who makes less than $100,000 a year, $500 a month. no strings attached. apparently on top of other welfare payments. if that's not socialism, i'm not sure what is. soon we will find out who supports this green new deal which demands a guaranteed job for everyone with a family-sustaining wage, adequate family and medical leave, paid vacations and retirement security. paradise for all. the green new deal is really radical environmental socialism. socialist bernie sanders has
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taped a campaign video and may declare his candidacy this week. all the leading democrat candidates are on the far left of the party so far. so tonight, watch the president connect the collapse in venezuela to socialism and then watch him connect socialism to the democrat party. it's not a difficult connection to make. perhaps he will repeat what he said in the state of the union message. america will never be a socialist country. i hope he does. the third hour of "varney & company" is about to begin. here in the united states, we are alarmed by the new calls to adopt socialism in our country. america was founded on liberty and independence and not
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government coercion, domination and control. we are born free and we will stay free. tonight, we renew our resolve that america will never be a socialist country. stuart: president trump at the state of the union address two weeks ago. expect to hear a lot more of that when he speaks in miami this afternoon. the rnc's kayleigh mcinerny is here to talk about it. first, we go to blake burman at the white house. what can we expect from the president's speech? reporter: got a handful of talking points from the white house in which they laid out what kek expewe can expect to h president trump in miami, home to the largest venezuelan community in the united states. there will be a good dose of support, let me tick through these real quick, of juan guaido as president and the trump administration has been supporting guaido for weeks now. the white house also says there will be a push for allowing more
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humanitarian aid into the country as well. the president will also be delivering a message to the military members of venezuela in which he will tell them they should work toward democracy or else risk losing everything that they have. the president will also say that venezuela should not be a puppet state of cuba. of course, the south florida area as well the largest cuban population within the u.s. that, the white house says, will be just some of the talking points that the president will be delivering in miami, in south florida later today. also expect, of course, socialism as you just laid out to come up at some point as well. stuart: i'm confident that socialism will come up. i don't know for a fact but i'm confident. blake, thank you very much indeed. come on in, kayleigh. i am confident that the president will take aim at socialism, and that he will link socialism with the democrat party and use this as his opening salvo in the 2020 campaign. what do you say? >> yeah, there is simply no doubt he will be attaching
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socialism and what we are seeing in venezuela with the democratic party and how radical they have become on every count. bernie used to have zero co-sponsors on government takeover of health care. now every 2020 contender, nearly every one supports it. they are all into free college now, universal basic income, according to alexandria ocasio-cortez, giving people money for unwilling to work. these are crazy ideas. he is going to link the two rather marvelously as he always does. stuart: listen to what bill gates said about taxing the rich. roll that tape, please. >> the big fortunes, if you go after those, you have to take the capital gains tax, which is far lower at like 20% and increase that. stuart: so raise the capital
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gains tax, the tax on profits, the tax on the sale of your home. this has become a rallying cry for the left, very much so. do you think it could be an effective tactic in 2020? >> no, i don't think it will, because this is a huge drag on the economy which is exactly what it is. i can guarantee you voters are going to side with president trump. i mean, there are mounds and mounds of research as to why taxing capital gains is a horrible idea. federal reserve bank of minneapolis has a great report out on that from a few years ago. this is a horrible idea. you tax the top, you are going to have a drag on the economy. we are not going back to the obama economy. we are pretty happy with the trump economy. stuart: are you absolutely sure that this rubric, tax the rich, tax the rich, you want money, tax the rich, you get it from the rich, that is popular, you know. >> it may be popular but when it's explained it will not be popular. when you say the bill for these
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policies, these socialist policies, is more than $100 trillion, you tax the rich at 70%, you get something like $860 billion, so the numbers don't add up. what this means is you, everyday americans, your taxes go up, not just the rich because the rich don't have enough money to fund socialism. everyone's taxes have to go up. we will start looking like venezuela many decades down the road if we take that approach. stuart: looks like you're in florida. i'm not sure where you are exactly. are you going to miami tonight for the speech? >> sadly, no. i'm flying up. i will be leaving florida. stuart: good luck. kayleigh, thanks for joining us. appreciate it. i just, my head was spinning here, there is a proposal in illinois to tax private retirement accounts. 401(k)s, iras, tax them so you can pay pensions to public workers. jeff flock, the man himself, is here. there's no hurricane, no, no.
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wait a minute. this blows me away. are you kidding me? in illinois, where i think you live, have you got a 401(k)? reporter: yes, i do live there. stuart: you have a 401(k). what do you think to the idea the government could say you have too much, we are going to give this to retired government workers? >> i will start by saying, illinois is in such a big hole, there's no way out other than to tax and cut spending, both. stuart: not given these outrageous pensions bankrupting the state. >> here's the problem. the state constitution says you cannot diminish those pensions. they are between a rock and a hard place. give me an answer. have you got an answer? stuart: no. i have the answer. you leave. that's what's going to happen. they will get worse and worse and worse and spiral down. >> this new proposal by the business community says we got to hike income taxes, we got to hike the corporate tax, and we got to hike a tax on pensions.
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stuart: they're idiots. if you think any business person comes along and says we are going to raise income taxes, we are going to tax private pensions, we are going to do this, you don't think there's any negative to illinois for this? >> i know you are ticked at the idea of taxing your 401(k). but 16 states do it already. illinois is not the only -- stuart: but illinois is in the worst shape of almost any state when it comes to state pensions. >> there are two worse states, connecticut and ohio, have higher per capita pension underfunded liabilities. stuart: how many people have left illinois? >> yeah. we have done it on this show. stuart: a lot. there's a flood going out. >> right. although understand, too -- stuart: it can only increase. >> that may be the case. especially this retirement thing. you drive retirees away. but of course, retirees are going to leave anyway. stuart: but am i going to go to illinois? it's not going to happen.
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>> will you ever retire to illinois? stuart: if they drop their taxes to zero, i might consider it. it's a very attractive state. >> any time people put their hands in your pocket, you have got a problem. stuart: what's this about the state, illinois, raising the minimum wage $15 an hour? >> house passed it already. governor will sign it. it's going to happen. stuart: what kind of reaction did they expect to get from this? >> stuart, you know what the bible says. to whom much is given, much is expected. stuart: not sure that means money. unto him that have shall be given from him that have not shall be taken away. that's nothing to do with money either. >> where did you get that one? stuart: google it. our viewers will google that immediately. jeff, we have a profound disagreement about illinois. >> that's my state. i'm there.
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yes. yeah. somebody's got to stay. turn the lights out. stuart: flock, you're all right. >> really? that's a high compliment. stuart: that's high praise on this show. i never say it to liz. liz: no, never. >> she's got her own show. stuart: moving on. come on, settle down, everybody. president trump declares a state of national emergency at the border. got it. democrats in blue states lining up to fight it in court. next, we are talking to a lawyer who says this will not drag out in the court as long as you might think. plus, andrew mccabe says the 25th amendment was discussed in regards to the removing of the president. i say mccabe tried to remove mr. trump because he didn't like him. we're back on that one, too. senator kamala harris' presidential platform includes 500 bucks, a handout per month for low income families. actually, it's for everybody less than $100,000 a year.
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big day for politics and money. we are all over it in the third hour. ♪
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than original medicare alone and have the peace of mind of knowing you're covered for doctor visits and hospital stays. plus, routine physicals and preventive screenings. and when it comes to prescriptions, in 2017, humana's medicare advantage prescription drug plan members saved an estimated $6900 on average on their prescription costs. so call a licensed humana sales agent today at the number on your screen, to see if you're eligible to enroll today. and say yes to getting the right health care coverage without having to wait for it. stuart: as you know, president trump declared a state of emergency at the border. one of his top aides, stephen miller, defended that decision to fox news' chris wallace. watch it. roll tape.
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>> what the president was saying is that like past presidents, he could choose to ignore this crisis, choose to ignore this emergency as others have. that's not what he's going to do. stuart: emily campagna is an attorney and fox news contributor. it's going to court. we know that. how long will it drag out in court? >> it could be a very long time, but i will say this. in the interest of the emergency declaration, and in the interest of the migrants coming over the southern border, it behooves the court to process this as fast as possible and to determine whether a stay will be issued as fast as possible. essentially, whether while it's in the courts, that it will proceed or will it not. stuart: okay. but let's suppose they issue some kind of a stay. you can't declare an emergency, you can't follow through on this, the administration will immediately appeal it to a higher court, presumably. trying to take it to the supreme
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court, that's going to take a long time, isn't it? >> not necessarily. there are absolutely fast-tracking options available. i think what i want viewers mostly to understand is that the different tracks and different issues the courts will be looking at have to do with, a, that declaration, b, the appropriations issue and c, the power issue, right? i think a lot of the talking points we have been hearing from the left, this is impossible, it's a power grab, it goes against the appropriations power of congress, but those are all -- those are not to be muddled. these are things that will be parsed out by the courts to determine such and note as well, the standing of different lawsuits. we have people who live on the border, we have organizations who operate on the border, we have churches which is a first amendment, we have different issues here going on as well as standing. stuart: it was california's attorney general who is leading this. therefore, do i assume that first court to hear it will be the ninth circuit court of appeals? >> it likely will be.
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stuart: which will oppose the president. >> likely will, yes. stuart: is it then the supreme court which decides whether or not to look at the ninth circuit court's decision? does the supreme court say we'll take it or we won't take it? >> correct. the united states supreme court always has the option to decline or grant certiorari to hear these cases. it clearly behooves all of us for the u.s. supreme court to say yes and take this under final consideration to make the final ruling so moving forward from administration to administration, we know what the law is. stuart: now, we've got, referring now to the "60 minutes" interview, andrew mccabe, he revealed that when he was acting fbi director, after james comey was fired, there were talks within the fbi of removing the president from office. now, here's what president trump tweeted about that this morning. here we go. i will put this on the screen. wow, so many lies by now disgraced acting fbi director andrew mccabe. he was fired for lying and now his story gets even more
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deranged. he and rod rosenstein, who was hired by jeff sessions, another beauty, looks like they were planning a very illegal act and got caught. emily, i didn't spend last night in the holiday inn express but it looked to me like it was a silent coup. what do you say? >> yes. for every average american, it absolutely did look like that. i want to point out a couple things. to me, what struck me about the interview is mccabe's constant woe is me victimized mentality that was a shadow of comey. for example, when the reporter pressed him on what about the potential for criminal charges for your failure to tell the truth and to, you know, leak information to the press, he said well, i refuse to discuss that and he said the i.g. report was a selective presentation of evidence that was clearly publishing what the president wanted to have happen. then he said later, i was standing up for what i believed
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and the president's terminating me had a chilling effect on the fbi. now, if that's not setting up again that victimhood mentality and for me going into the likely hearings where he will be called to account for this, then i don't know what is. liz: and impugning the i.g. stuart: yes, that's right. if he is called to testify before congress, it's under oath, isn't it? >> it is. mind you, who will the counter testifiers be? for every x, there will be a y and everyone will be under oath. the larger consideration to me, too, is the unfortunate, what i see, consequence of such politically driven motivations and actions. how can you now, how can we now argue the investigation wasn't tainted? stuart: very good point. where is it? two years in, where is it? good lord. emily, you know what you're talking about and that's really terrific. thanks for joining us. we appreciate it. commerce secretary wilbur ross has submitted results of his investigation into whether
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imported cars and their parts have a direct effect on national security. the president has got 90 days to enact auto tariffs if he so chooses. okay. now this. 6300 acres in virginia are going to be used for the largest solar project on the east coast. people who live nearby absolutely not happy. we will deal with that coming up. and drama at the daytona 500. we will show you the crash that took out 21 cars. big crash. we'll be right back. ♪ now i'm thinking...i'd like to retire early.
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let's talk about this when we meet next week. edward jones came to manage a trillion dollars in assets under care by focusing our mind on whatever's on yours. and the army taught me a lot about commitment. which i apply to my life and my work. at comcast we're commited to delivering the best experience possible, by being on time everytime. and if we are ever late, we'll give you a automatic twenty dollar credit. my name is antonio and i'm a technician at comcast. we're working to make things simple, easy and awesome.
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stuart: watch out for this one. a massive pile-up at the daytona 500. 21 cars involved. you can see there -- you can't see it, but car number 95 -- ashley: there it is right there. stuart: there you go. it just lost control, spirals into his fellow racers, all on top of each other. look at that. liz: goodness. stuart: eventually, a winner emerged, denney hamlin. that's his second daytona win in just four years. hold that video. this is where it gets extraordinary. liz: no injuries, though, right? stuart: precisely. that's extraordinary. when that happens, no injuries.
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ashley: 21 cars. liz: astonishing. stuart: 100 million-year-old dinosaur footprints unearthed by archaeologists in australia's outback. the tracks are part of an exhibit called march of the titanosaures opening last year. that's in australia. one more, make sure you turn your eyes to the night sky tonight and tomorrow night for another super man. th that occurs when the moon is closer to the earth. it can be 14% larger than your average moon. and 30% brighter. now this. the most politically incorrect courses being taught on college campuses. we will have the list for you. and alexandria ocasio-cortez slams amazon for poor working conditions. we will tell you how amazon responded to that. ♪
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stuart: how absolutely correct, your money never takes a holiday. they are off and we are on. now this. a massive 6300 acre solar powered project is moving ahead in rural virginia, despite protests from residents nearby. the former epa official is with us. mandy, what do residents nearby this solar firm, what do they object to? >> look, they are worried about what's playing out here which is political preferences overtaking and ignoring the needs of the community. what folks often in the context of developing out solar panels ignore is that it requires massive amounts of clear cutting acres. they clear-cutedclear-cut eed a size of manhattan and residents
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are concerned about the minerals inside of the solar panels and storage facilities onsite leaking out into the ground. this is serious stuff. this is cadmium from china. stuart: look, is the project held up? because if it's held up, i have to ask how many other projects will be held up? what does that do to the green new deal which wants to use massive solar farms all across the country? they could never be built. >> i think that is a really good question. the question whether to move forward on this will ultimately be borne out at the local level. when you bring up things like the green new deal, this is preferencing political takeovers and ignoring what communities want. this is what alexandria ocasio-cortez and her capitalist cronies want to do. they want to take over the entire economy, tell you what car you can drive, what you can eat, and they want to decide where all of your energy comes from. stuart: i think you meant her socialist cronies.
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you actually said capitalist cronies. we will worry about that. i want more on this green new deal. we have an editorial in the "wall street journal" today and it talks about changing the light bulbings in new york city's housing authority apartments. the cost per apartment just to change the light bulbs. the green new deal says every single building in the country has to be retrofitted. if it costs $1973 for one apartment to change the light bulbs, that has just killed the green new deal before it gets out of the gate, hasn't it? >> i think so. you are seeing how these socialist ideas, thank you for correcting me earlier, how the socialist ideas play out in local communities. $1100 on each apartment could have been spent on tangibly improving the community and environment of the people living in those housing projects. it could have been invested in
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reducing mold, spent on reducing rats and rodents, things that have an impact on the community but instead, they are spent on changing out the light bulbs without actually helping the people around them. stuart: hard to believe, isn't it. $1,973 per apartment. just unbelievable. mandy, thanks very much for being with us today. interesting stuff about that virginia solar farm. you can't build things these days. i want to now bring in to talk about amazon, as you know they pulled their hq2 from new york city. congresswoman alexandria ocasio-cortez tweeted about this, about the working conditions at amazon's warehouses. strict performance, why amazon workers have to urinate in bottles and work while on food stamps to meet targets, performance shouldn't come at the cost of dehumanizing conditions. that's why we got rid of sweat shops. amazon responded by inviting her to tour their facilities. she hasn't responded yet.
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i want to bring in joe borelli, new york city council majority whip. you are republican, aren't you? you are still on the new york city council? >> one of the few. stuart: endangered species. i think socialism, ideology was responsible for keeping amazon out. what say you? >> well, first of all, we have a fulfillment center in staten island and people are making between $17 and $23 an hour to start. they are doing okay. not to say there are no issues. stuart: that's a fulfillment center. >> they are doing quite well. but look, this is what happens when you allow the far left to conflate every problem they face from againgentrification to i.c. there is something fundamentally wrong. alexandria ocasio-cortez poisoned the well with her ignorance. she convinced people that there was some choice between $3 billion to jeff bezos or $3 billion to the trains or
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teachers or some real problem they actually face. you can disagree with your representatives but you should expect and demand they have a basic understanding of accounting and municipal finance. stuart: she didn't. she suggested you've got this $3 billion just sitting around, you could have spent it on subway trains. that's absolutely not true. >> when you expect your congressperson to have that knowledge, you can't blame people for sort of buying into that notion and being quite upset. this is the loss of 25,000 jobs, a generation of new yorkers who will not be employed or will move somewhere else. that falls directly on to the lap of someone who didn't take the time to even read the finance 101 manual for congress members. stuart: new york city has lost 25,000 very well-paid jobs. i think they may well lose future big companies which may have wanted to come to new york but which will now think twice. that's my opinion. >> there are companies that need to be here, perhaps the finance industry, but when you set up an environment where we are so high
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taxed and overregulated that companies can't come here without some sweetheart deal from our governor and mayor, that's more of a fundamental problem than any one particular deal or company coming in the first place. stuart: i bet your phone was ringing off the hook. >> it sure was. stuart: still is. joe borelli, thanks very much for being with us. we appreciate it. let's take a look at facebook. british regulators say facebook intentionally breached data privacy laws. deirdre bolton, tell me more. >> this was a pretty tough report, also damning for mark zuckerberg. they say he's in charge and a couple times, three times they note he says junior members of the company were sent to talk about facebook policies and the uk government saying that's really unacceptable and you are almost mocking us. here are the three parts of the regulation they want. they want a mandatory code of ethics put in at facebook. they want an independent regulator named in the uk. they don't say that has the
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right to sue but that's he tensi essentially what they mean. the other part is to force facebook to hand over data. that's a three-pronged regulatory suggestion. the other part of this which may brew even more trouble for facebook is they are saying facebook is using its market dominance to crush competition. you have had nyu professor scott gallaway on. he thinks a lot of these big tech companies are going to face calls to be broken up. he does think it's coming from europe. that's actually in line with what he's saying. stuart: i would agree. i think there's trouble coming down the road. >> all the trouble and none of the originating bragging rights as in we built it here. stuart: real fast. tell me about walmart. releasing earnings before tomorrow's opening bell. >> that's right. it's a short week but walmart obviously biggest retailer going to kick it off. what most people want to know behind the numbers is how the company fareked fared in the go
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shutdown. stuart: they are a huge retailer, they could turn around and say the tariffs have really hurt us. >> we have heard of that. walmart as a dow member would certainly influence trade if they say that. stuart: if there was a statement about tariffs hurting them, that weighs against the china trade story. >> it certainly does. however, as we have been hearing all this time, china in theory is suffering more right now than we are. yes, that would affect walmart's trade for tomorrow. stuart: thank you very much. great to see you. one senator's solution to the student loan crisis. here it is. make student payments come out of paychecks automatically. garnishing. by any other name. california has started a new universal basic income program. residents get 500 bucks a month for the next year. our voice of reason in california will join us on that.
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liz: howard kurtz says jeff bezos tried to broker a cease-fire with the national enquirer's parent company, american media.
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roll tape. >> they tried to come to some kind of agreement after the initial enquirer story exposing jeff bezos' affair and it's really very cloak and dagger. for example, jeff bezos, through an intermediary, arranged for sort of exclusive photos and behind the scenes quotes about his girlfriend for another american media publication, "us weekly" and in exchange, the people at american media, parent company of the "enquirer" provided an advance copy secretly of the next week's "enquirer" which wasn't about bezos, it was about george clooney and his wife to show they were backing off. it was a bit of a cease-fire.
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stuart: stockton, california rolling out a staple of socialism. that is universal basic income. they are going to pay out a monthly 500 bucks to 130 residents for the next 18 months. that's a small-scale experiment. however, california senator, 2020 hopeful kamala harris, she has a plan dole out 500 bucks per month to a much larger group of people, anybody who makes less than 100,000 bucks a year. that's a big group. let's bring in our california guy for this, larry elder, nationally syndicated talk show host for salem radio. what is it with california, you insist on throwing money away to everybody? >> well, i have always said whenever the federal government
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tries something, california has done the same dumb thing at least twice. these income redistribution plans, if they really worked, we wouldn't have poverty in this country. as you know, lyndon johnson launched the war on poverty in the pidmid '60s. since then we spent $20 trillion on poverty and it pretty much flat-lined. before the war on poverty, poverty was going down. as far as black poverty is concerned, 87% of black people live below the federally defined level of poverty in 1940. by 1960, that number had declined 40 points to the point where 47% of blacks were living below the federally defined level of poverty. so poverty was going down dramatically but once this war on poverty started and you incentivize people to become more dependent on government as opposed to becoming more independent, poverty flat-lined. if giving people money like this worked, we wouldn't have any poverty at all in this country. it's a dumb idea. there's a very long piece about this in "the daily mail." at the very end of the article it says by the way, canada and
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finland have tried these programs and at the end of their time, decided not to re-up them. very small little line about that at the very end of a very long article about this. it hasn't worked in canada. it hasn't worked in finland. stuart: we agree on this entirely. i think it's a very foolish move. it doesn't work. however, it's a vote buyer. if i'm a politician and i say i will give you money, vote for me, this is the program you get, i give you 500 bucks a month, lot of people will respond to that and say i'm voting for you. >> you and i both know the folly of rent control, for example. we have rent control here in california in various places, why, because tenants outnumber landlords. these things are quite popular, never mind the economics 101 argument. they are popular. they have been at the politicians, they don't benefit the people they are trying to help, which is the poor people. stuart: well said. i want your reaction to the jussie smollett story. questions are being raised about -- stop laughing -- there's questions about the validity of his story, yet the
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democrats on the screen now, they very quickly came to his defense. some of them actually blamed president trump for the attack. wrap it all up for us, larry. >> well, because this is really what happened at the intersection of what i call trump derangement syndrome and what tom wolf, the novelist, used to call the incessant search for the great white defendant. the media loves a white defendant, especially somebody privileged that they can accuse of racism. of course, trump derangement syndrome means donald trump is a racist, his supporters are racist and therefore, they are going to go after people like jussie smollett who is gay and black and an anti-trump guy. it fit the script which is why they ran with the narrative. the good news is it didn't happen. isn't that good news? shouldn't we be happy about that? why are we angry two white guys did not beat up a gay guy because he was a gay black person? it also shows us that the in-box of grievances has got to be
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getting pretty low when you have to make up things that are racist and homophobic in america. we are probably in a pretty good place when you can't come up with an annual instanctual insth somebody has been attacked because of racism or because they are gay. they are manufacturing something. that puts us in a pretty good place. stuart: in "the washington post" this morning there's an op-ed in which a writer says she wished with every fiber of her being that the story was true. what? >> because it pushed the narrative that trump has made the country more racist. that trump has coarsened race relations. never mind the peak of race relations occurred under george w. bush for blacks and whites and fell dramatically during the obama administration. it has gone down under the trump administration, i will give you that, but the precipitous fall happened during the obama years, not during the trump years. during the obama years. don't give me this nonsense donald trump coarsened race relations when under obama, they got down far, far lower than they were when obama first took
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office. it happened under obama's watch, not trump's watch. stuart: that's why we call you the voice of reason from the formerly golden state of california. larry, you are all right. >> other people call me other things. stuart: thanks for joining us, larry. >> you got it. stuart: a topic we cover a lot here on the show, liberal lunacy on college campuses. we have examples of the most outrageous courses being offered. mysogeny, marxism and the gendered politics of booze. can't wait. sign me up. ♪
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stuart: we have gone to this well many times, reporting on campus lunacy. our next guest has a list exclusively for this program of the most outrageous anti-free market courses in the country. spencer brown is with us, spokesperson for the young americas foundation. i think you are doing fine work. welcome to the show. >> thank you so much for having me. stuart: want to talk about these courses one at a time. marx for today at the university of minnesota. wait a second. i studied marx when i was in
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college. we studied it. what's wrong with that? >> i would be willing to bet you learned both sides of the story. what students are learning today is marx's ideas are actually relevant today and maybe we should give them another try. when really all you have to do is look at venezuela and see marxism leads to socialism, that's nothing we should want. stuart: marxist taught as something that's good. >> correct. taught as being relevant to the problems of the 21st kcentury. stuart: you have a problem with that sort of course? >> absolutely. you need to teach the dangers of marxist ideology and what happens when socialism takes hold. stuart: another one is american mysogeny. that is dislike and hatred of women, taught at middlebury college. if mysogeny is part of american life, what's wrong with studying it? >> what we see again is that this university that offers it actually puts it as being a side effect of the trump administration and so they continually say that now in 2019, it's on the rise because president trump is pursuing all these policies.
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they are not teaching things about great job numbers for women, opportunities for women, all the women the president has put in his administration. they are just saying president trump is bad and here's why. stuart: i don't mind looking at marxism and mysogeny as long as you look at both sides of the fence. >> exactly. it's all one-sided leftist reeducation. stuart: one last one. i don't understand this. i hope you can explain it. the course it called gendered politics in food at the university of georgia. >> it's a great question. what is this course actually? that's something we come across all the time. where that name comes from is some of the course titles are laughable. when you look at it, they are basically applying all the left's favorite things, identity politics, intersectionality, saying what does racist, ablist, classist, capitalism have to do with food. and politics. food now can apparently be racist or political. stuart: gendered politics of food. >> yeah. because of intersectionality,
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they also have to wrap it in ableism, classism, racism. stuart: you know what you're talking about there. >> for example, you are able to walk so your interpretation of food would actually be different than someone who may not be able to walk. so we have to teach people how to accurately navigate this mine field. stuart: what's a racist food? >> that's the real question. what kind of food is racist. how do you know? is the food inherently racist or made racist by the person cooking it, perhaps? this is education today. stuart: you astonish me. i have one more for you. alexander lamar, senator from tennessee, thinks students' loan repayment should be garnished from your paycheck. what do you say to that? >> as somebody still paying back my student loans as well, it's something a lot of people struggle with today. if you look, 40% of recent graduates are underemployed, student loan debt is $1.5 trillion debt problem, and i think what he talks about in there, saying we need to make sure, incentivize that the education people are getting is
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actually worth something, is a very valuable part of that. those classes we just talked about, gendered politics in food, unless you are going to be a leftist professor, i don't see that getting you a job that will pay back your student loan. stuart: very good. spencer brown, you've got to come back. i want more of this list. thank you very much. good stuff. almost out of time. there will be more "varney" after this. ♪ . .
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stuart: on this president's day listen to ronald reagan talk about socialism. roll tape. >> in the soviet union if you want to buy an automobile, there is a 10-year wait. you go through quite a process when you're ready to buy. you put up the money in advance. young fellow finally made it going through all the bureaus and agencies, he had to go through, finally got to the last agency where they put the stamp on it, the man made the final stamp, taken the money, come back in 10 years and get delivery of your car. and he said, morning or afternoon? [laughter]. the fellow, the fellow said, well 10 years from now what difference does it make? he said the plumber is coming in the morning. [laughter]. ashley: plumber coming in the morning. that was fantastic. could he tell a story or what? stuart: could tell a story.
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could make you laugh. convert the opponents with humor. brilliant communication. what a way to remember ronald reagan on president's day 2019. liz: really fun. stuart: connell mcshane in for neil. connell: i'm connell mcshane filling in for neil. u.s. markets are closed we have busy two hours president facing backlash over the declaration afterings in emergency. blake burman at the white house. reporter: starting the threat for a lawsuit pile up. not sure if you cou

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