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tv   Varney Company  FOX Business  February 27, 2019 9:00am-12:00pm EST

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maria: i am so happy to tell everybody i adopted a rescue puppy. i couldn't believe the stats on how many dogs go to foster homes i took in baby dusty. dagen: we will talk about it more tomorrow. i love you for that and everything. maria: "varney and company," take it away. what you think of dusty? stuart: adorable. i am serious, i rarely use that word but it is applicable. adorable is good. good morning, everyone. they met, they shook hands, held a brief conversation and headed off to dinner. kim trump get together has started, big smiles from kim when our president said north korea has great economic potential.
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kim praise your courageous decision to start the dialogue. the media thinks donald trump will give away the store to get a politically advantageous agreement. the hard bargain that has begun. in washington, testimony from michael cohen who is about to tell a house committee the president broke the law while in office. that would be campaign finance law. the fact that he's a proven liar will go over the heads of the media who are looking desperately for anything that might go into the impeachment plot. we will stick -- it had little impact or no impact on the markets. after a 30 point loss, we are looking at another minor decline today. wait until you see what happened to oprah winfrey's weight watchers stock. "varney and company" is about to begin.
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here we go. weight watchers on your screens. a catastrophe for weight watchers stock. it will drop through the floor of "the opening bell" down 35%. tell me what happened. >> oprah feeling lighter, losing $48 million because of her second largest holding in the stock. the ceo of weight watchers said they would have fewer members this year than last year. a bad failed winter advertising campaign that failed to ignite new membership but they will roll back in oprah who had a 10% stake, she is the second-largest shareholder and stock is at $103 last june, down from 70%.
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stuart: i wonder if this is a story about the business model of the weight loss marketplace. >> health and wellness has broader appeal. that is not a chart to ending at all. 35% on top of that today. let's get to the summit, donald trump met with jamal khashoggi for the second time this morning, says he's optimistic about the progress they made. roll tape. >> i thought it was a great success and i think this would ultimately will be equal or greater than the first and the biggest progress is our relationship is a good one. stuart: there are reports that huawei stopped in china after the summit in vietnam. gordon chang is author of the book nuclear showdown, north korea takes on the world.
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what is china's role in the north korea summit? >> there trying to stage manage this. there are reports that kim will go to beijing after this, they are trying to keep north korea outside and what trump is trying to do is peel away north korea from beijing. >> can he do that? >> he can. he has to give up a lot. this would be high-stakes diplomacy and it is important to isolate china. if you are trying to take him from the chinese you would have to leave him in place with nuclear weapons and that is a big bargain the united states needs to talk about before we try to execute this. stuart: you think the point will be north koreans keep their nukes?
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>> that's the trade-off if you're going to try to rule away the north koreans so this is important for us, he threatens the us and also the chinese because for millennia the koreans and chinese have been at each other's throats sometimes literally and the border between china and korea moved hundreds of miles in both directions. stuart: where do you think this is going? the discussions, the summit, what is the end point down the road? >> trump is going to continue the campaign for a little while longer and realize north koreans were playing him and go back to the maximum pressure campaign. trump was extraordinarily successful with north koreans making all the concessions, he was making none. since that time we have left our foot off the accelerator. the south koreans have been violating sanctions.
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kim has been getting enough to put these in place and he's stalling on the important things which is disarming. stuart: the media thinks donald trump will give away the store to get a politically advantageous agreement. do you think he will? >> i don't think so. trump understands his outreach is not politically popular. he thinks it is a right thing. and and this is not only for the us but for trump politically. he thinks it is a good thing to do not because he thinks it is politically expedient. stuart: we appreciate it. going to switch gears.
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pakistan shutdown two indian jet fighters. >> this goes back to february 14th when there was a militant attack in kashmir that killed indian police, india responded by targeting groups with fighter jet attacks and the pakistani side at cashmere, that led to retaliation where pakistani jets attacked kashmir as indian rural side so there's an escalation here. pakistan said they shot down two fighter jets from india. they have a pilot in custody. they've shown a picture. they have two nuclear power, we haven't seen this level of conflict between these countries since 1971. a huge concern. stuart: i thought the price of gold would go up if war breaks out but it is down a buck today. >> airspace over the entire country of pakistan has been shutdown. stuart: that is escalation. ashley: and it creates problems with air-traffic. stuart: michael cohen testifying on capitol hill. joining us is liz peek.
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willis have any -- unless there's a major revelation -- apart from a major revelation will have any impact on the stock market? >> i don't think so. i don't think investors are focused on gossip from this white house and that's how i would characterize it. this is a person who has been convicted of lying before congress, talking in his opening statement about this being his possible redemption moment but we don't have any further charges that have been substantiated that will be a problem for donald trump unless something else comes out in the hearings today with -- accompanied by documentation. it will be embarrassing. the media is hyping this as something much more significant than north korea astonishingly and the never trump crowd will be all over it but i don't think this is anything that moves us substantially down the road towards impeachment which would be a problem for the
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stock market. stuart: there is a new audit on the tax law, 11 million tax returns can no longer deduct $10,000 on federal return. we were right here. the 1% in high tax states will be clobbered by this. >> who is running for president? california, new york, massachusetts, they will be on spotlight. people will be saying, embracing all these years in these blue states have led to higher and higher taxes. it is really going to bite. tax changes were made at this is unhappiness at a broader level, driven of state and local taxes.
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ashley: how do they the exodus out of their states, wise everyone trying to get out? >> not just people but businesses. that is the entire ball of wax. stuart: you vote your wallet with your feet. check futures please. we open the market in 20 minutes. 40 odd points, down 40 today. not that much movement in stocks yesterday or today. house democrats unveiling their new medicare for all bill without saying what it will cost. to pay for health coverage for every american. replacing most employer-sponsored health coverage. does that sound like universal healthcare or what? joe biden may be ready to throw his hat in the ring for 2020. he met with his family and they are on board. ronald mcdaniel coming up on the biden the moderate, that is
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stuart: retail members coming in, best buy, better sales, up 10%, that is a strong performance. t.j. maxx reported today that better sales numbers, up 1.5%. lowe's, the home-improvement people, better profit, up she goes, 4.7%.
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compare that with rival home depot which was way down yesterday and down a few cents more today. then we have former trump lawyer michael cohen on capitol hill, he is going to testify donald trump is a racist and has committed crimes since becoming president. the republicans not taking that lying down, released a video telling cohen to have fun in prison. chair of the rnc rodney mcdaniel with us now. michael cohen is going to go up there today and wave a check and say this is proof donald trump broke campaign finance laws while in office. what is your response to that. >> michael cohen is a convicted felon about to go to prison for 3 years for, among several things, lying to congress. congress and democrats want to
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roll out the red carpet and bring him in because all they want to do is distract from what the president is doing which is meeting with kim jung un. they will bring this life, not just the rnc calling him a liar, the southern district of new york called him a liar, the special counsel called him a liar, he called himself a liar so why would we trust anything -- stuart: if he appears with what is considered irrefutable proof, waving this check, what is the response to that? >> i don't trust anything michael cohen has to say. this is a total sideshow in this is what will be the next two years, democrats putting investigations forward, sideshows forward because they can't win on results, they can't win against this president of they talk about how good our economy is doing the jobs coming back, wages going up, the president leading on the international stage, they don't want to talk about this. that is why they put these hearings against the president meeting with kim jung un. look what happened with north korea. under the obama administration
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in the last year north korea was firing missiles every 24 days and 457 days, talking about denuclearization, presenting to them an option of let's have a vibrant economy for your country and get rid of these nuclear weapons. this is a president who was leading and democrats don't want to talk about that so they bring a liar to congress to distract from that. stuart: let me ask you about 2020. joe biden has consulted his family and they appear to be okay with it. he is obviously a moderate in a field crammed with leftists.
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how do you feel about that? do you want to go up against a moderate or a leftist? >> i love to go against joe biden african. what is he going to run on? let me take you back to the stagnant wages we had under the obama administration, let me take you back to jobs being lost and manufacturing jobs being lost and low gdp, what a compliment can joe biden run on? i'm a nice guy? i don't think that will cut it with this progressive field. is out of touch with his party. i can't imagine him being the new face of the democrat party that embraced at oc and elon omar. let's run his record against the president. stuart: didn't donald trump -- candidate trump, have a fight it out round or was it joe biden? >> joe biden threatened violence against our president. i will -- don't think he have a shot based on his record. we will take it to him. stuart: thank you for being with us this morning. i know you are going to be busy. thanks a second time for being with us. where do we open this market? down a little, 50 points, down 20 on the nasdaq. ivanka trump went after the green new deal thing most
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americans don't want a handout. alexandria ocasio cortez fired back, we will tell you what she said after the break. you.
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it handles everything, and reaches everywhere. this is beyond wifi, this is xfi. simple. easy. awesome. xfinity, the future of awesome. willy davis, who has alzheimer's. i decided to make shirts for the walk with custom ink. the shirts were so easy to design on the site. the custom ink team was super helpful and they just came out perfect. seeing my family wearing my shirts was such an amazing reminder of all the love and support that everyone has for my dad. - [narrator] check out our huge selection of custom t-shirts and more, for teams, businesses, and every occasion. you'll even get free shipping. get started today at customink.com. stuart: papa john's annual sales down since 2009, stock is
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up $.29, 0.7%. highest sale that campbell soup does not run counter to the process food storing, they are selling processed food. campbell soup, sale there of, up and the stock is up 3%. time for your daily socialism update. ivanka trump criticized ocasio cortez's green new deal. >> you've got people who will feed that offer from the democrats, progressive democrats. the green new deal, the guarantee of a job. that is what i want. what do you say to those people? >> i don't think most americans in their heart want to be given something. i spent a lot of time traveling over the last four years, people want to work, this
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guarantee of a guaranteed minimum is not something most people want. they want the ability to secure a job. they want the ability to live in a country where there is potential for upward mobility. stuart: can't let that rest. aoc fired back. >> this is lighting up social media and people are taking both sides of this. as a person who actually worked for tips and hourly wages in my life instead of having to learn about it secondhand, i can tell you most people want to be paid enough to live. a living wage of the gift, it is a right. workers are often paid far less then the value they create. let me finish. this is in response to ivanka's criticisms that americans want to earn their paycheck, they don't want handouts. aoc goes on to say imagine a job guarantee by saying people prefer to earn money.
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i would say yes, people want to earn money. why be given something when you should go under and it. stuart: a living wage is not a right, it simply is not a right. >> ivanka follows this up i said she agrees on minimum wage, dozen people -- people should not be guaranteed salary and payment. stuart: three bernie staffers leave. >> the chief strategist and two members, bernie sanders 2016 campaign everyone expected to be on board for 2020 but no, they left in their entirety saying there are creative differences. we didn't have a meeting of the minds. they couldn't agree on anything. these are the people who decided interaction of the campaign, how campaign ads would look, how to strategize. stuart: bernie is not far enough left, not a real socialist was the market will be down in for a half minutes time.
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stuart: yesterday, tuesday, the
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industrials -- dow industrials closed again above the 26,000 level. we are still 800 points from the record all-time high. i made a mistake the other day suggesting by friday of this week, would be above that high. i will remind you of that. my market is open and we are up and running, down 50 points. 25997, minor leagues lost, a quarter a 12:45% down at "the opening bell". the loss is smaller, quarter 12:45% to the downside, the nasdaq, the tech stocks are doing. joining us, shot gilani, susan we.
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let's start with weight watchers. the stock is way down. opera is a big shareholder. how much? >> filling a light in the wallet today. the lies $48 million depending how the stock closes later today but it is down since it hit a record high in june, $103. and less this year than last year and failed marketing campaign and winter and oprah is the second largest shareholder in the company. >> weight watchers turn around and what they do with the weight loss business not working any longer? >> it is a hard road and a tough business. people don't like the term diet anymore. they've gone to a lifestyle business and healthy business
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to have a change type of business and trying to find a footing how to position themselves and it is off the cliff. and changing marketing is a stretch. stuart: there's a related story, craft times, big loser last week, people moving away from processed foods. they are going to healthy food. seems this is a major trend towards healthier lifestyles and healthier food and that will have a huge impact on all kinds of companies. >> you are seeing stock struggle so much, they are cutting dividend by 30%, they are under fcc investigation. i don't like to catch a falling knife. this stock, i wouldn't touch it with a 10 foot pole. stuart: the problem is the kind of food they are putting out. >> everyone is becoming more
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health conscious and the term gm ohs in our house is a curse word. stuart: genetically modified organism. you steer clear of them? >> i do because my wife tells me to. your wife is in studio right now. auto workers suing general motors over plant closures. mary bara, the ceo, says it is in the server the company's long-term survival. would you -- you have a strong ceo on board right there. >> she is a terrific ceo. i don't think this dustup will hit the stock hard. they constantly had problems with labor in terms of those issues, sometimes it takes longer. i'm not a huge fan of general motors. i like forward where it is,
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below $9. general motors done a little better, in terms of appreciation but the yield is 33/4 of 1%. i prefer ford, there's a way to go higher. mary barand, i'm a huge fan of hers. stuart: the dow industrials i don't 50 points, 40 lower yesterday, 50 down today, holding it 26,000. three big retail names reporting today, first off, best buy, big winner, higher sales of the holidays, wearables and smart home devices, tj x, parent company of t.j. maxx, better customer foot traffic, uping the dividend, the stock is up, now it is up. we moved that one. lowe's home improvement, the home-improvement people, higher profit, stock is up 4%. contrast with home depot, down
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1% yesterday, down about 3 quarters of 1% today. home depot is back to 186. two home-improvement companies, home depot down, lowe's up. we have win, the casino people, paying a fine of $20 million related to sexual misconduct charges against stevie win. that stock is down $.50. the senate commerce committee demanding answers from google. they want to know why that company didn't tell customers there was a microphone in those nest home security devices. this is big brother but it never attacked -- never affect stock. >> google has 20 of cash on the balance sheet. this privacy issue will be a challenge for technology companies. facebook has gone through it, google has gone through it. for stock perspective it will have little impact on stocks. stuart: you don't think regulation is coming down the pike which would force them to change their business model? >> know.
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if it did it would change my perspective on the stock depending how strict the regulation is. that is the biggest risk to the technology sector, good amazon and google of the world, because of the information they have. stuart: am i crazy? ashley: in general? stuart: this big brother thing. i just don't like it. >> a reputational risk. look where facebook was trading, $200, still hasn't recovered and we have an ftc outlook as well. stuart: say that again. >> i don't understand why google wouldn't announce there were speakers and microphone and you could do this. this is great because down the road it will make it a better product, more use and more applications. why would they hide this? makes no sense to me. i want to agree with eddie but i don't think we've seen the end of congress interfering and making changes in terms of privacy because it is a huge issue that will only get worse
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and i say the new democrat movement, the new movement to the left, there's going to be a hard push on the tech stocks and probably going to have a little bit of difficulty going higher from here because of that. stuart: the left loves to listen in on people. ashley: we always have -- the invasion big brother story, we have one every day. it makes me crazy that they are not going to tell you unless they get caught and we find out. that is the way it works. stuart: a change of image. ten years ago they were saving the world. >> now they've gotten too big and powerful. stuart: they change their motto. netflix in britain in the uk, they changed the ending of the popular movie the notebook. fans are not happy about it. >> they are not happy about it because this is a classic from 2004.
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a tearjerker with ryan gosling, rachel mcadams and netflix is so powerful they can change the ending of the classic lose the ending, don't know if i am giving it away for those who haven't watched it but it is a romantic love story. at the end, ryan gosling's character many years on in their elder age, reading their love story to this wife from dementia. netflix changed the ending so that there are two doves flying across the lake, indicating they may have passed but it is very different. that is a crescendo of this love story we all watched. stuart: absolute be pained. a couple of doves. the stock is up. this one for ashley.
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onto the new cheap wine, $9.99 per bottle. >> tell us about that. ashley: less today lingerie, today it is one. stuart: i am picking on you. would you like me to pick on eddie gabor? ashley: i see what you cheap of me. $10 a bottle wine, pass it to me, great. i don't know. there will be a market forward. don't turn your nose up at these cheap wines, some of them are very good. stuart: did you ever try two buck chuck? remember that stuff? ashley: i wasn't that desperate. stuart: interesting stuff here, breaking news on brexit. ashley: angela merkel and emmanuel macron say this would allow the uk to extend the deadline if they can prove it is warranted, justified.
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another move towards britain not getting that across the line by march 29th. it is coming to the crunch time. it is headed toward an extension of the deadline. they will start with three to four months but i don't know what they can achieve that they haven't been able to achieve in two years. >> it should the market because it is a risk in the market place. stuart: it is not a negative if they extend. push the can down the road a little bit. 9:40, we've got to say goodbye. shah gilani, you were find today, see you again soon. you've got a book. i want to show it. there is. the author of the book, the common sense bull as in bull market i take it. the keys to the good life before and during retirement. is this book for me? you are a good man.
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check the big board. we narrowed the loss, 10 minutes into the session and down 33 points. 26,029. that is where we are. joni ernst once to crack down on government waste. she's going after government projects that go $1 billion over budget or run several years behind schedule. the california bullet train is on the list. senator ernst joined us in the next hour. house democrats release their new medicare for all bill. they won't say what it will cost. the proposal would illuminate most private insurance and provide federal funding for abortions was we are on it all. two things could move the market today. fed chair jerome powell continues his testimony this time in front of the house financial services committee and our top trade guy, robert light heiser gives an update to congress to china. more varney after this. ♪
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stuart:'s losses narrowing, we are down 23 points, 26,030 is where we are. the house tax writer committee will hold a hearing with robert lighthizer. i don't think they will get much out of him. ashley: i think he's not going to be as effusive as donald trump. there are major hurdles that need to be addressed before this agreement. we will not call it a memorandum of understanding because we know of us that between him and the president, the administration is playing that down. he was a progress is being made but let's understand there are major issues that need to be mailed down. stuart: i'm not expect anything revelatory.
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ashley: not at this stage. stuart: focus on medicare for all plan. under this plan the federal government would pay health coverage for everybody, expand the medicare program to younger americans, replace medicaid for low-income and disabled and replace most employer-sponsored coverage, this is draconian. employers and private insurers currently provides a political coverage. congressman robert what all, george republican, joins us now. this is socialized medicine. reminds me of the british healthcare system, totally socialized. >> that is all it is and they are stealing the good name of medicare to hide that socialized medicine. medicare is something you pay into your entire life so it will be there when you need it in your later years. that is not what is being proposed today. socialized medicine plain and simple. stuart: it will be very instructive who votes for it
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and whether it passes as we run up to 2020 because it sounds to me like this medical plan is the main plank in their campaign platform for 2020. what say you? >> the main plank of the far left in the democratic party. i think you will see more moderate democrats come out and oppose this because they see the nonsensical nature of it is you and i do. this is more than $30 trillion program with no way to pay for it. stuart: is that a price tag on it? $30 trillion? socialized medicine to this degree? >> it begins a $30 trillion and goes up from there. stuart: it would require massive tax increases, wouldn't it? >> if you believe we can even raise taxes that high. we are raising more tax revenue than at any time in american history and still dealing with a $22 trillion debt and rising deficit. this is not the time to socialize the american healthcare system, take away the finest healthcare system in the world. stuart: is that your line of attack, it costs too much?
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>> we've already seen a failed takeover of the american healthcare system. we can look at all those government mandates that make the system worse and affordable care act, not better. more expensive anemia federal correct -- affordable care act. even if it was good policy we can't afford to pay for it. stuart: i'm surprised they would go right out there with such a draconian plan. i'm surprised at that. doesn't seem to be any moderation among democrats at all. >> behind closed doors i hear moderation on a regular basis but nancy pelosi has never had to lead a group as far to the left as the group she's trying to lead today and she is absolutely being dragged further and further. it is an interesting day on capitol hill when nancy pelosi begins to look like a moderate. stuart: joe biden may be throwing his hat into the ring very soon. maybe very soon. what do you make of that? he would be a moderate i guess.
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>> by 2019 standards that is right and he is a wonderful negotiator, he has a wonderful relationship on capitol hill. as i look at socialist philosophies many other democratic candidates are is thousand i think he would be a welcome addition to what is a field running far to the left. stuart: thank you for coming on the show today. thanks for being here, appreciate it. check the dow 30. only slightly lower and it is a mixed bag, roughly half the dow 30, roughly. the dow is down 28. joe biden, his family urging him to get into the 2020 race. is he the democrats best hope for defeating donald trump in 2020? can he get the far left to support him especially in the primaries? herman cain next on that.
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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: 21 month away, let's get to the 2020 election, joe biden might be getting in, role that tape. >> i'm certain about where the family is but the second piece is i don't want this to be fool
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and fair. i want to make sure if we do this and we are close to getting to a decision, that i am fully prepared to do it. stuart: looks like he is in. herman cain, ceo of the new voice. your take on joe biden running? >> joe biden would be considered a moderate and the rest of democrats are probably cheering they have someone that at least makes sense on most of the issues. whether he would be able to fool the flaming liberals -- stuart: the only one who makes sense. >> he does at least try to make sense. the other candidates who are ready to declare make no sense.
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i can't predict what will happen but joe would be receiving a lot of accolades from normal moderate democrats because at least he would be able to make some sense. stuart: do you think he could beat donald trump if that were the matchup in 2020? >> no and here's why. i don't believe any democrats can beat donald trump because of the president's record of results the tax cuts are not going to go back up with control of the senate by republicans. regulations will not be rolled out. nancy pelosi and democrats could come up with all the neat sounding free stuff schemes they want but the president has a long track record of resulting just two years and he is continuing to rack up impressive results and that is what he will be running on and i don't think democrats have anything to run on other than
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trump hate. stuart: i want your take on microsoft workers calling for the cancellation of the military contract. it occurs to me you were the ceo of godfather pizza. what would you do if one of your delivery peaceful -- people refuse to deliver pizza to a military base. >> i would fire them. i've been in the business world for 50 years. i have never heard of employees trying to bully the employer. this is unheard-of. secondly, obviously they are not honest of the company. no owner of any business in their right mind is going to turn away business because they are talking out of both sides of their mouth. on the one hand the person leading this petition drive says they support the troops,
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but they don't support war. that doesn't make sense. it is a logical. the troops are doing what they are being told to do. secondly, we have had war since the beginning of time. it is never going to go away. one of the things the united states has always done is to be prepared in the event we have to get something to another war. this petition drive by these microsoft workers is illogical and stupid. stuart: that is why we like you. you are plainspoken, go right at it and make me laugh and that is pretty good. herman cain, a good man, thanks. >> i enjoy. stuart: more varney after this. laugh
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stuart: the house rejected the president's emergency declaration. speaker pelosi insists the only crisis on the border is a humanitarian crisis. thousands camped out on the mexican side. thousands waiting to be processed on the u.s. side. millions of illegals living in the shadows. humanitarian crisis. the president says there is national crisis. drugs are coming in. criminals are coming in. most importantly we're in the era of mass migration. whole populations want in. isn't that the point. yes we have humanitarian crisis. start the trek here or are planning to. we do need a wall, fence, barrier. some form of security adds up to
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again quinn and enforced border f we don't do that. there will be a monumental humanitarian crisis. look what happened to europe. an army of migrants, literally marched out of the middle east and demanded entry into western europe. that was considered a humanitarian crisis. germany's angela merkel opened the door, put out a welcome mat. disaster. open borders allowed millions of economic migrants to move freely dividing the entire continent and they're still coming. the same situation is here. mass migration on our doorstep. millions want in. democrats want to let them in on humanitarian grounds. the more the border remains secure, the more plan to come. the president is right, by all means, be generous, be humanitarian, but stop the migrant flow with real border security. if we don't, the humanitarian crisis only gets worse.
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the the second hour of earn have have -- of "varney & company" is about to begin. ♪. stuart: lots happening on capitol hill today. three hearings are getting underway. two could affect the market that would be fed chair jerome powell testifying in front of the house financial services committee and trade rep robert lighthizer speaking to the house ways and means committee on china trade. we're monitoring those for you. we'll bring you any headlines. we're also watching michael cohen, president trump's former attorney testifying in front of the house oversight committee. any fireworks from that you will see them right here. check the big board. we're down but not by much. we're down one quarter of 1%. stock of the day, no question
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about it. they warned on profit. there was decline of subscribers signing up for the program third quarter in a row. it is down 35%. oprah lost a ton. higher profit at lowe's, the home improvement retailer. that stock is moving up in contrast to home depot, the home improvement people, they were sharply down. have we got best buy please? let's take a look at that the big gainer on s&p 500. we don't have it. a big winner, best buy. do we have big tech names? maybe we do? maybe not. susan: slightly down. stuart: a mixed bag, no mixed movements. i do want to tell you though that best buy is up 14%. ashley: nice. stuart: that is a big gain. right. big techs on the screen now. facebook, amazon, apple, alphabet, microsoft, all of them on the downside. now we have the dow off 85 points. okay, i hope you heard what i had to say about mass
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migration and the border. look at this, "fox news poll" finds 56% of americans oppose president trump's national emergency declaration. sean spicer with us, america first action senior advisor and spokesman. all right, sean, i want a wall. i think the emergency declaration is the right thing to do but it is not popular with voters. how do you see this? >> well, look, i think both parties made it very clear where they stand. the president wants to keep the country safe, stop the flow of drugs, illegal migration and human trafficking on the southern border and democrats are clearly on the side to continue to allow it. there is no other way to read the story. if you want to be against a declaration of national emergency, fine come up with a way to solve the problem. the house could have passed a bill to extend funding and resources to the southern border but they didn't do it. the question is what are they for? they are now against everything. you can only conclude if you're
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against everything, you're okay with the problem. nancy pelosi earlier noted doesn't think there is a crisis, when something happens, whether something happens, continued flow of drugs over, trafficking of individuals through the southern border, illegal flow of my migration, some who committed crimes in this country, you are then responsible for the problem. i think what the president needs to do say look, i tried to work with congress, i tried to seek funding, i tried to declare a national emergency, they rejected me at every step of the way, nancy pelosi and democrats came down on one side, i come down on another, you the american people with the upcoming election choose which one you believe in. stuart: before i go on, sean, i do want to tell you at the michael cohen hearing republicans are pressing for a delay on the grounds that they have not seen, didn't have much time to see new evidence which mr. cohen reportedly will present to that committee. so there is a lot wrangling,
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procedural wrangling going on at this particular moment. but, sean, back to you. >> stuart, on the procedural point i think there is a larger point getting lost on this. whether or not you agree or disagree with president trump, you support him or not, we used to have decorum in this country when the president was traveling abroad we kind of piped it down domestically. the democrats could have scheduled hearings with michael cohen anytime they wanted. they knew when he was going abroad. he is not just traveling abroad through europe for some kind of a ceremony. he is sitting down with the leader of north korea to try to solve denuclearization of korean peninsula, would make not just that peninsula, region safer, entire world, the idea facing a split screen, that is cute little circus but as someone who used to work there it is a distraction. the president and his team should put every ounce of effort to make the world a safer place,
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something he already started to succeed on by north korea not firing a missile. the idea that the democrats scheduled this hearing for this day, it would be malpractice for the white house not to pay attention. they have to know what michael cohen is saying, accusations he is lobbying. every second they're doing that they're not focused on making the world a safer place today. i think it is rather disgraceful. you talk about procedures, republicans doing this, we have to go back doing this a little bit, talk about why we're here right now. this hearing could be scheduled tomorrow, next week it, would have been fine. that is congress' role, right to have hearings they want to, call witnesses they do, the idea they chose today of all days really says a lot about the current democratic party. stuart: well-said, sean spicer. i agree with you entirely. that was a point well-made just as this wrangling gets underway. mr. spicer, thank you very much for being with us today. we appreciate that. >> thanks, stuart. stuart: the market were down a
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little bit more. we're off 78 points for the dow industrials. i want to bring in jamie cox, harris financial group. jamie, the way i look at it, the toxic political atmosphere, the cohen hearings don't seem to have any impact on the market at all. am i right? >> nobody is paying attention to cohen. they're paying attention to lighthizer and jay powell. in particular jay powell's hearing today, the first time in humphrey-hawkins testimony he will face people like maxine waters and the new democratic congress. as long as jay powell goes down the middle of the road, works into every answer patient, i think markets will be satisfied whatever cops out of the testimony but i believe that those are the things markets are most concerned about. stuart, we have to talk about earnings. all the political wrangling doesn't make any difference. earnings matter more than anything. there is talk about a earnings recession in the country, that side of thing. in my view, we may be on the
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cusp of a bull market. we've seen a bad market turn into really good market over past couple months. you're starting to see green shoots what could be 2019 one of the better years in the stock market, particularly in the u.s. i think people need to pay more attention to that, than pay attention to what michael cohen will say that is completely irrelevant to what people like me think about the markets. stuart: that is a counterbalance to mr. cohen. i read your stuff. you like the stock of general motors. is this about electric cars, self-driving cars, is that why you like them? >> yes. in the case of general motors markets are basically marking down general motors to zero or giving it absolutely no credit whatsoever on the stock as it being autonomous vehicle producer and i believe that is a incorrect assessment on the part of wall street. gm is doing a lot of research
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about autonomous vehicles. if they get this right, they could be the second or third largest producer of autonomous vehicles in the country in four or five years. tesla brought this particular technology to bear, they will propel it to actual production status in the world. autonomous cars is where the money is. i think gm is really positioned to take advantage of it. oh, by the way, you can get 3% dividend to wait when it materializes. stuart: thank you, opportune time for to you appear. see you soon. >> thanks so much, stuart. stuart: we have a big hour coming up for you. three hearings on capitol hill. fed chair jerome powell, trade rep robert light highsers, the michael cohen hearings. they appear to be wrangling about procedures at this particular moment. we're monitoring everything for you. ivanka trump taking on alexandria ocasio-cortez's green new deal. ivanka says americans don't want
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a handout. aoc has responded. the house rejecting the president's emergency order on border security. now it goes to the senate. shortly i will talk to senator joni ernst. is she with the president on this? she also has a bill that limits the perks presidents get when they leave office. that is interesting. you're watching the second hour of "varney & company." ♪
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stuart: robert lighthizer testimony on the hill. he made some headlines. tell me headlines, susan.
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susan: he says it is too early to predict the outcome of u.s. china trade talks. china presents most severe challenge ever faced by u.s. he talked about narrowing the gap between the two. he expects the deficit is $417 billion. that is higher what we saw this year and the previous year. also when china says they will promise to buy additional u.s. goods, maybe a trillion dollars over next few years he says that is not enough of the pressing for significant structural changes more important than results by additional purchases and spending by china. stuart: he is a hard-liner. he has come out with some hard-line headlines and the market is going straight down on that one. susan: pretty much. sounds like they're far apart when it comes to structural changes. sounds like significant progress is being made. stuart: he said too early to predict the outcome. that is what is the most
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important headline. ashley: that is not as we said earlier effusive as president trump who talked about a signing summit. stuart: the questioning did get that out of him. that is why the market is down 153 points. that is over half a percentage point that is happening right. there we got it. the democrat-led house voting to block president trump's border emergency declaration. that resolution now heads to the senate. come on in, iowa senator, republican joni ernst. miss senator, will you vote in support of president trump's emergency declaration? >> well, i am leaning towards supporting the president of course. i do believe that we have a national emergency at the border. we see huge numbers of illegal border crossers and this has to stop. stuart: so you're leaning in favor of declaring the emergency, it stays in place? >> of supporting the president, correct. stuart: i do want to move on to
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one of your bills, the presidential howance -- allowance modernization bill. you want to limit amount of money a former president can make after they left office. tell me about it. >> what they can make from the taxpayers. what we are limiting is the expenditures that our former presidents use to support personal staff, travel allowances, phone bills, things of that nature. they certainly, we know, we have seen this, they certainly go on to make great amounts of money in their private lives after having served in the presidency. we won't limit that. what we're limit sergeant what taxpayers are using to support our former presidents. stuart: for example, former president obama sign as very nice contract with netflix i believe for a great deal of money. what would happen to his pension or his perks? would you take them away, if he is earning all that money at
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netflix? >> his pension would stay as is. the president would still earn the $200,000 a year that they are entitled to. their security will remain the same. that is not touched at all. we reaffirmed that but what would happen any dollar over $400,000 that that former president makes, then we would decrease the allowance which is set at $200,000. we would decrease that $200,000 for every dollar over $400,000 that that president makes in their private lives. so it is a he decreasing amount for a dollars, that they would make on their own but we believe with those lucrative book deals, their expensive speeches, all of that, you know, they earn that on the outside. why should the taxpayers have to support their personal lifestyles? stuart: fair question. you also have, i'm not sure the correct name here, is it billion dollar boondoggle.
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>> boondoggle. stuart: are you taking aim at the california bullet train, is that what it is? >> that is one fine example of a boondoggle. yes, we are taking aim, raising awareness at those projects that are way over budget and those, that simply have gone way over the time they were to be completed. and the bullet train is a prime example. $44 billion of taxpayer money. it is 13 years overdue. what a waste of time and money for the taxpayers. stuart: genuine boondoggle if i ever say one. >> genuine. stuart: senator ernst, thanks for being with us. >> my pleasure, stuart, thank you. stuart: i want to go back to susan with more headlines from lighthizer. what has he got? susan: we're looking losses being paired. he is talking about progress on trade talks. he is saying that there are reformers in china do want a deal to make the structural changes.
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a few minutes ago at the opening of his testimony he says that u.s.-china trade deal, right now we're not there just yet. there is still a lot of progress has been made but we're seriously engaged at the highest levels. it is hard to predict the outcome of this u.s.-china trade talk negotiations. it won't be done in one session as he also pointed out as well. the agreement has to be enforceable because china failed to keep past promises. he also talked about 417 billion-dollar trade deficit with china, higher than 2018 and previous years. that continues to grow at this point. stuart: all that was very negative. took the market down 150, 160. comes back, saying a little bit of a progress. susan: the fact they will spend a trillion dollars next few years, still not enough at this point to narrow the deficit to make an agreement. ashley: bit of reality check where we are with china of the as susan says, i'm not followish enough to think one negotiation
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will solve all our china trade problems. stuart: we have fed chairman jay powell testifying on capitol hill. lots of testimony today. jay powell included. he was before the senate banking committee yesterday. he is in front of the house ways and means committee. that is going on as we speak. i think we're dipping into this, not yet, when maxine waters, that is house congresswoman maxine waters, i think she chairs, not -- not ways and means committee. susan: banking committee. stuart: house financial services committee. susan: correct. stuart: she is questioning powell today i think, shortly after i right, producer? i am? okay. we'll wait to see what maxine waters has in store for the fed chair jay powell. we are expecting some fireworks. susan: market moves as well. treasurys pared their losses on powell's testimony. the dollar is extending gains as well. strength in the currency, also fixed income and u.s. debt. stuart: okay. what you have now is minus 135 points for the dow jones
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industrial average. that's largely on the back of lighthizer's testimony on capitol hill, which appeared to show, too early to be really, really strongly in favor of a big deal coming down the pike. ashley: exactly. stuart: paraphrasing here but that's where we are as of right now, down 132 points. we're still waiting for maxine waters to start the questioning of jay powell or continue the questioning. we will be there shortly. i think we're going to take a break real fast? we have to make money on this program. you know how it is. a few commercials for you. hope you watch them. promise you, we'll be back in a moment. fact is, every insurance company hopes you drive safely. but allstate actually helps you drive safely... with drivewise. it lets you know when you go too fast...
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want more from your entejust say teach me more. into your xfinity voice remote to discover all sorts of tips and tricks in x1. can i find my wifi password? just ask. [ ding ]
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show me my wifi password. hey now! [ ding ] you can even troubleshoot, learn new voice commands and much more. clean my daughter's room. [ ding ] oh, it won't do that. welp, someone should. just say "teach me more" into your voice remote and see how you can have an even better x1 experience. simple. easy. awesome. stuart: multiple hearings going on on capitol hill at the
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moment. two are direct interest to anybody in the market and the financial world. jay powell continuing his testimony. he was on capitol hill yesterday. he is back today at the right-hand side of your screen. the left-hand side of your screen we have, mr. lighthizer, trade representative. he is being questioned now by john lewis and he will be questioned by other members of that panel shortly. now lighthizer has moved the markets. he said earlier it is too early to say to predict any significant progress in the china trade talks. when he said that the market took a step to the downside. right now we're off 152 points on the dow industrials and that is largely on the back of what mr. lighthizer had to say. so far jay powell has not moved the market nor has michael cohen. he is in a different hearing. he is testifying in congress. he is going to say that president trump, he is giving
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his opening statement, he is going to say that president trump committed a crime while in office, specifically he broke campaign finance law. that is one of several things that he is going to say. that is not moving the market, no. it is lighthizer that moved this market so far. now the senate commerce committee, they want answers from google. they want to know why customers were not made aware of hidden microphones in google's nest security system. jack hough with us, "barron's" senior editor. jack, to me this is all about big brother. i don't want secret microphones in my house listening to what i'm saying. ashley: who does? stuart: who does? but it never seems to hurt the stock. >> this is not a big, you know, mover in terms of the money the company makes because most of their money is made in different places but i cannot imagine a dumber move for a big tech company at a moment when everyone is concerned about privacy to have a microphone out
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there that wasn't disclosed -- people didn't know about. even if it was done for for, you know, innocent reasons, i imagine it could have been done for innocent reasons but wouldn't you just be a little more careful with this right now at this moment? stuart: yes, you would. it is big brother, but they keep stepping into it, but they don't. this is true of facebook and google. i'm mixing them both in together here. they don't suffer from it. the stock does not suffer. >> this is one of the risks when you look at history of investing in america, these companies become biggest in the market, this is one of the reasons it is hard to stay on top, right? you invite so much more attention, you're under the microscope. if we were talking about a smaller company had done this, it wouldn't be news. this company is on everyone's mind, because they're so dominant. if you're that dominant, you better be perfect in the execution on things like this. stuart: by the way, market, dow industrials down 174 points.
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ashley: yeah. stuart: we believe that is because mr. lighthizer, trade guy, he is testifying on capitol hill, he said it is too early to predict the outcome of trade talks. maxine waters now grilling jay powell. listen in. >> which republicans came to be a bill to benefit community banks was in fact a broader deregulatory giveaway to large banks that would fuel mergers, accelerate industry, consolidation and make it more difficult for community banks to compete. now we have suntrust and bb&t proposing to merge and become the sixth largest bank. furthermore, even though banks made record profits of $237 billion last year, you said yesterday implementing s-2155 was your highest priority and that the fed has made several
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proposals that would reduce bank capital and liquidity reserves for our largest banks. board governor brainard voted against these proposals noting the fed's proposal would reduce high quality liquid assets held by large banks about $70 billion. the fdic originally opposed the fed's leverage proposal as it would reduce bank capital by more than 120 billion. the fed is also looking at making stress testing more transparent which could undermine the purpose of the test and former fed chair fischer called these deregulatory efforts, quote, something i find extremely worrisome, quote, unquote. chairman powell please explain, will easing big bank capital and liquidity requirements as the treasury department has proposed and your agency appears to be
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following through with not undermine safeguards that are carefully built up the last decade to protect our economy and which made the u.s. framework the gold standard that others around the world follow? should we expect to see further industry consolidation if deregulating big banks is a top priority for the federal reserve? it was discussed in the senate banking committee yesterday how the fed has accelerated its merger reviews and appears to be rubberstamping them. suntrust, bb&t claim their proposed merger will be approved by september but can you assure us that the fed will not rush the process, consult with all affected parties, hold field hearings and focus on the public's interest, even if it means rejecting the application? the occ unilaterally released an advance notice of proposed rule
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making to modernize the community reinvestment act or cra. the fed and the fdic did not join that release. i was troubled to see comptroller ode recently said if he could not reach agreement with your two agencies -- stuart: we were expecting a question from the chair of the financial services committee. we got a long statement dressed up as a question. we haven't got an answer yet from jay powell. i don't know whether he has time to answer it but we'll move on from here. the market is down 158 points and that we believe is because of mr. lighthizer, the trade representative, or the trade negotiator, he is appearing on capitol hill as well. he said it is too early to predict the outcome of the china trade talks. that was taken as a negative. the market is down 155 points. are you in agreement with this, jack hough? have i got analysis right or what am i missing? >> i think so, if you had to
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point a finger that is the place to point it right now. you can find a number of worries, right? i still think when you put it all together earnings growth is slowing, it is not going to be great this year but it looks okay and stocks are still the best deal in town, if you get a little selloff on worries about a china trade deal, so be it. that is short term. i know you have to look long term. stuart: i know your back is killing you. >> i thought the oscars was going on and you have to have music to play people off. stuart: maxine waters doesn't like banks. we got word on oil how much we're using. >> big surprise 8.6 million barrels. the build was 2.8. that is 10 million-barrel swing. we're seeing oil move higher approaching $57 a barrel. stuart: we're using a lot of this stuff. ashley: we are. stuart: demand is strong. usage is strong. that is why the price of oil is
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as on the cusp of $57 a barrel as we speak. can we put up weight watchers? we have a little time. that is the stock of the day, the story of the day, if you ask me. weight watchers is tumbling down 34%. the reason is they're signing up fewer people for their program and i think that's true of three consecutive quarters. but there is a bigger story here. i want jack hough to help me go through it. there is a bigger story, people are moving away from processed foods, that is why kraft-heinz took it on the chin, other processed foods took it on the chin. that is the story behind weight watchers. >> they're getting away from the center of the store with all the processed foods. there is uncomfortable thing goes on in big stood and this. the stuff that has the best margins is crap. not good for you. the stuff good for you has terrible margins. what is your favorite brand of lettuce? you don't know, you can't brand lettuce. not easy to make margin on
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lettuce. it is good for but you won't make a lot of money. weight watchers, this program has been around since the '60s, america is as at that time as it ever has been. i try not to give oprah financial advice on the shares. the stock looks like a yo-yo dieter. look at earnings call, the chief is saying there is problem with competition. who is the competition? the first thing they name is keto that is not a thing with market budget. that is not place for meetings. that is people saying i want to cut the carbs. the weight watchers main competitor is people not doing weight watchers. stuart: forgive me, i think weight watchers principal opposition, are weight loss companies that deliver food to you. >> yeah. stuart: provide you what you're supposed to eat to lose weight. can't remember the name of them. >> one called nutrisystem. stuart: that is big one. >> when you look, there is no evidence of one of these things that become as great, long-standing growth company that does well. decade after decade.
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if something like this out there worked everyone would-be long to it and the nation would be thin. these programs don't work. the thing that makes people healthy and thin, hard to make money on it. eating right food. there is not a lot of margin in it. stuart: susan, did you happen to remember how much oprah has lost? susan: 38 to $40 million depending how the stock closes today. she has 8% stake. second largest holder in weight watchers, despite selling shares. it didn't work out with the winter campaign. they failed to sign up as many subscribers as they expected. they will have oprah front the spring campaign. hopefully more people sign up again. stuart: when she first went on board with a big stake in weight watchers went up $100 a shire? hit record high. stuart: now $19. oprah still has a stake. susan: second largest.
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stuart: she lost a lot of money on this. susan: that's right. >> she will be okay, stuart. don't worry. she will be fine. stuart: you think of oprah as a very financially astute woman who has made probably a billion dollars. ashley: oh, yes. susan: worth $2.5 billion. when she was the campaign front, weight watchers did very well. she rolled back her more visible roll at weight watchers. they have been using other endorsers like d.j. khalid. ashley: she needs to get back to promote the product. >> they have a history of going through a few years of lousy revenue. do something different. get a lot of attention. get a big bump. its hard to carry on to the next step where it is enduring growth. stuart: i'm not so sure app, meetings is as good as having food sent to you, eat this and lose weight. ashley: in today's world. >> i don't like to to go to a
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meeting talking about how fat i am. i can look in the mirror. or over the internet. stuart: i have breaking news for you. here we go. the white house says there will be a signing ceremony at the end of the trump-kim summit tomorrow. susan: wow. stuart: talks take place tonight, that is u.s. time. they have 12 hours in front of us. the ceremony takes place sometime early in the morning tomorrow our time. the president will also hold a news conference at 3:50 a.m. tomorrow. i think that is our time. susan: there is a tweet as well. president trump says meetings were great with north korea's leader kim, very good dialogue, according to the latest response. stuart: this is interesting, you have got what looks like real progress, put the tweet up on the screen. that is president trump, great meetings and dinner tonight in vietnam with kim jong-un of north korea. very good dialogue, resuming tomorrow. all very positive stuff. that has not moved the markets.
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ashley: then you have china and lighthizer's testimony to pour a little bit of cold water on the progress of that front. >> some people call this like phony baloney but i'm happy to see it. i'm happy to see any kind of dialogue. i don't see any downside when people are talking. ashley: right. susan: lighthizer headlines, it will be executive agreement, doesn't need congressional approval. do it on their own. a done deal. stuart: executive agreement. doesn't have to go through congress. the market not responding to that late piece of news. we're still down 150 points. there you go. latest from venezuela. telemundo says one of their reporters was abducted by a group of armed man, forced into a van against his will. jorge ramos was detained after an interview with disputed president maduro. we have the full story for you. president trump in vietnam, meets with kim jong-un ahead of
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tomorrow's summit. media reports are that he is giving it all away. i don't know about that. we'll pose that question. the dow industrials down 137 and we will be back. ♪ metastatic breast cancer is relentless, but i'm relentless too. mbc doesn't take a day off, and neither will i. i treat my mbc with everyday verzenio, the only one of its kind that can be taken every day. verzenio is the only cdk4 & 6 inhibitor approved with hormonal therapy that can be taken every day for post menopausal women with hr+, her2 negative mbc. verzenio plus an ai helped women have significantly more time without disease progression, and more than half of women saw their tumors shrink vs an ai. diarrhea is common, may be severe, or cause dehydration or infection. before taking verzenio, tell your doctor if you have fever,
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♪ ashley: rnc chair ronna romney mcdaniel says former vice president joe biden shouldn't run against president trump in 2020 because she says he is out of touch with his own party. roll tape. >> talk about jobs being lost, manufacturing jobs being lost, low gdp, our failure on international stage. what accomplishment can joe biden run on? hey, i'm a nice guy? i don't think that will cut it especially with the progressive field. i think he is out of touch with his party. i can't imagine him being the new face of the democratic party, embraced aoc, ilhan omar, rashida tlaib. great, let's run biden's record against the president. ♪
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stuart: the white house says there will be a signing ceremony at the end of the trump-kim summit tomorrow. harry kazianis with us, the center for national interests, director of defense studies. harry, that sounds positive to me. the president says, and he tweets, look a signing ceremony at a news conference s is that positive? >> the question we're asking, what are they going to sign? my guess is there will be a peace declaration ending the
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korean war. that would be historic. what is the president is trying to do essentially convince kim jong-un, saying we're no longer enemies anymore. we can build trust that will put pressure on kim jong-un whether he gives up his weapons. if we're at peace, building a rip, there shouldn't be any reason to do. that is the ultimate test of north korea's intentions. i think that is where we're going with this. stuart: don't we have to see a actual sign, a specific sign, that they are denuclearization ing whatever the word is. getting rid of nukes? don't we have to see a sign of that? >> the north koreans will take down and dismantle the pongyong nuclear facility, which is older facility is but really where the north koreans started building nuclear weapons and all their nuclear technology. what is going to happen, i'm sure inspectors will have to go in there. take an accounting what is there. they will have to start breaking it apart. if the north koreans start interfering with that, going back to all the old tricks we
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know we've been had and that will be a tragedy. stuart: you're a defense kind of guy. i want to talk to you about pakistan, they shot down two indian military planes, big tension between the two countries. they're both nuclear armed. what do you make of all of this? >> welcome to the second cuban missile crisis. i think this is actually something that should be leading every newscast around the world. the reason being, india, pakistan have hundreds of nuclear weapons between them. pakistan is building large amounts of tactical nuclear weapons a lot of military experts think they can be used in battle. threshold is a lot less. i would send mike pompeo to the region right now for old-fashioned shuttle diplomacy to see if we could end this. this could escalate quickly. stuart: it is not headline news. certainly not in america. the cohen hear,s are the headlines there or summit in vietnam. it noise the a front page story
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at this point. >> that a shame to be honest with you. i have done war gaming simulation what is india-pakistan nuclear war would look like. tens of millions of people would die. stuart: are they close to that? that is cataclysmic. are they that close? >> problem is, when you have two nuclear powers and hatred both sides feel is really real. situation where somebody fires accidentally or misstep or somebody misreads diplomatic signals. that could spark a crisis. we have to get mike pompeo out there to try to de-escalate the situation. stuart: can i ask you about what mr. lighthizer, trade representative has been saying this morning? i don't know if it is your field or not but to me it is important. he says the deal they do with china will be an executive deal. that means they don't have to run it by congress. i think that's important. what do you make of it? >> yeah and i think that is totally fine of the there is no reason why president trump can't sign off on that.
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seems like a deal is in the offing from everything i've heard and everything i'm heard from white house officials but i think we have to take the long term here. i don't see it being resolving all the trade disputes. we know the chinese like to cheat, they like to steal all our military and industrial technology. so we might have a short term lapse in the trade war but i don't think the game is over by any imagination. stuart: harry, thanks for joining us. a very important day. we appreciate that. >> thanks for having me. stuart: now this, house democrats, medicare for all bill. oh, it would expand medicare to younger americans, replace medicaid for low income families, and gets rid of most employer-sponsored coverage. only hitch, doesn't come with a price tag. we will tackle that next hour. ♪ did you know with vanishing deductible,
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stuart: we showed you the graphic violence earlier this week. a conservative activist, attacked, punched in the face, clocked at berkeley. i want to bring in cabot phillips at campusreform.org. update us on the guy who punched him in the face, not the victim,
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perpetrator. >> we spoke exclusively with uc berkeley police department. they have the suspect i.d.'d. there is warrant out for felony assault which is encouraging. they don't have the person in custody. 50,000-dollar reward david bossie put out for information lead to an arrest. more and more people are thankfully covering the story. it is time for uc berkeley to keep asking why do these things happen at our university? why is it a common thread? this is not isolate the incident. just so happened this was caught on video. a 81-year-old man assaulted wearing make america great again. a woman was assaulted. a high school student in tennessee or oklahoma. there is arrest warrant out for person assaulted him for wearing a make america great again hat. it is not unimportant to talk about who is the tolerant side here. stuart: the progress being made that is felony assault, there is arrest warrant out for that young man on felony assault charge. >> because of accountability.
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university thought no one was paying attention, which often happens they don't feel any pressure to hold people accountable. uc berkeley riots in 2017 throwing windows, throwing things through windows, lighting things on fire, soughted dozen people, one student was arrested. no one was held cattable as for half a million dollars in damage. this is not acceptable. with we need the rule of law. stuart: i remember in the early 1960s, watching free speech movement. mario savio, the late mario savio. that was inspiring thing. no free speech? in berkeley. millenials a trillion dollars in debt. most of that debt is from student loans. what would you say if there was a program to forgive some that debt? >> stuart, it would be a disaster. stuart: why? >> we have to teach people accountability. no one is forcing millions of americans and young students to take out all the loans.
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telling people that any financial cities stance you make goes wrong, taxpayers will foot the bill for you. government comes in swoops in to save the day. you're enabling a entitlement mentality. people ask how can we stop the entitlement mentality of millenials? not passing things like this. you only further make -- stuart: providing accountable to the college that gave them two or three years, degree, whatever, charge them an arm and a leg? >> that would absolutely be a start. we need to incentivize universities to lower prices. cut out much bloated administration and bureaucracy. educating students danger of amassing loans in the first place. i've been on dozens of campuses. when i bring up student loans, they look around, don't want to talk about it. silent fear, i know i have to take all the money out. no one is taking proactive steps to educate them what it means to take out those loans. no private lender would be giving out tens of thousands of
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dollars of loans to the people. only the government. because they know taxpayers foot the bill if it goes amiss. stuart: cabot phillips, you're all right. >> appreciate it. stuart: good stuff. i have been saying that the 1% in high-taxed democrat states would be hurt financially from the president's tax plan. now the numbers back me up. hate to say it, but we were right. my take on that 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.
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stuart: good morning, everyone. 11:00 in new york on 8:00 in california. so many hearings right now. some could affect your money. the chair powell testified in front of the house financial services committee appeared no fireworks don't know. powell said he will have an announcement soon on the fed's balance sheet here that is not so far affecting the market. trade wrap robert lighthizer speaking the house ways and means committee on china trade. he says it's too early to predict an outcome of the talks. that did move the market to the downside. michael cohen, president trumps former lawyer testified testifying on the hill. republicans tried to delay the hearing. i'm a cry majority overruled them with the washington news and fireworks. cohen so far has not moved the market.
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lighthizer did. right now the dow industrials down 139 points clear at right at 25,900. we are watching it all for you. but first, my take. we were right. 1% in high tax state are getting clobbered by the president's tax reform. the top tax rate may have been cut, but capping the deductions while that's what really her. that was always my opinion. now it's been confirmed as fact by the united states treasury. they ordered the new tax law looking to see who was affected and how. they found 11 million returns directly affected by the deduction cap. those taxpayers have either paid more this april 15th and receive a much smaller refund menu. less money going back to wealthy taxpayers in new jersey, new york and illinois, connecticut, et cetera. the money keeps flowing back to 1%ers in texas and nevada and
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many others date with very low taxes. you can hear the outrage. new york's governor andrew cuomo went to the white house to ask the president to restore the salt productions. he said no. the government is desperate. new york is the money and people walk out of this day. by the way, just replace reno as the second largest town in nevada after las vegas and how come? californians are fleeing the formerly golden state high taxes and it will only get worse as the new tax law begins to bite. the democrat chickens are coming home to roost. they raise state taxes on the president kept the deduction for this taxes, he was being fair to other states, which is not raise taxes. why should floridians are texans subsidize new jersey, new york, illinois and california. why should they? they're not any longer and it's the 1%ers in high-tech states who are paying for the democrats love affair with taxes.
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that is why they're leaving. more and not in a moment. first let's get back to your money. check the big board at the top of the hour. robert lighthizer testified on capitol hill. he has brought the market down with the statement that it's too early to predict the outcome of the china trade talks. ryan with me, president of paying capital management. am i right in saying that one statement from lighthizer has done damage on wall street? >> delete the fact you said it could be an executive decision. i think that leaves little room where you get to deal with them very quickly. then they avoid negatively on the market and it's almost like minute by minute. you kind of see the market year ago. i think the market wants to go higher. stuart: you think that statement is an executive decision and an agreement, not a full-blown whatever else it could be. that's good news?
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>> very good news because if the deal is done quickly, in terms of the market, the way i look at it if that can be a big catalyst for the market to move higher. stuart: i want to get back to my editorial top of the hour. capping of the deductions. i am saying and i think i'm right, the 1%ers who live in this high tax states are screaming blue murder because they are paid much more in tax. you hear the screams, don't you? >> men, loud and clear. loud and clear. if you look at it right now, you've already see people out of these high tax states, which is already a problem for states like new york, new jersey, connecticut and you add this on top of that. it's only going to exacerbate how quickly people are moving out of the states. it's a real big problem. stuart: i'm not asking to diebold what you're doing about this, but they're talking about deductions in the cap? >> absolutely. they're looking for in a tax benefit you can find.
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if you look at last year the tax reform there's not a lot of places to hide here. it's your w-2 employee there's not a lot of deductions you have to offset the deductions are losing. transfer andrew cuomo -- forgive me. remember governor cuomo of new york state said in september of last year, people are leaving new york state because of the upstate weather. now cuomo according to stuart insein know it's because of the loss of the salt production. 122 million people of california going into nevada. 1.2 million people left california to go elsewhere including places like nevada. that's over that period of time did last. because of the high taxes in california and the high housing prices. this is a structure problem. stuart: why do you go to florida? your young guy, start all over again. >> but then i couldn't hang with you every week, stuart.
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stuart: have you thought of moving, seriously? you start thinking about the taxes are paying, it's full employment now. i am my own firm so i can play myself somewhere else, but for someone who's maybe a millennial his farm in a now, your expenses are going up, there's a lot of other places to find jobs that you don't have to be in new york city lets say like he used to be. stuart: ryan, we will let you off the hook. we will force you to tell us to go into miami. >> your advice. stuart: thank you very much, sir. as a mention in my editorial, if you're looking to escape the skyhigh cost of living in california, look no further than henderson, nevada. right outside las vegas. california has accounted for 56% of the residents between 2013 and 2017. fleeing california. liz: california clean.
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stuart: the second-largest city in nevada suppressing reno. the formerly golden state sent quality of life is simply better. they spend less time in traffic in the home prices are cheaper. not to mention the taxes are much better, too. they can trump get-together has started. smiles when president trump said north korea has great economic potential that u.s. leader. kim praised your courageous decision to start the dialogue. >> i thought the first time i was a great success. and this one hopefully will be equal or greater. we had a lot of progress and i think the biggest progress was a relationship is really a good one. stuart: there will be a ceremony tomorrow. joe biden may be ready to throw his hat in the ring. sure looks like it's close. he's met with his family. they are on board. we are on that of course. plus the mena house has rejected the presidency's emergency
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declaration. speaker pelosi insist the only crisis on the border is a humanitarian crisis. we're going to deal with all this hour. this is the third hour of "varney & company." i don't know what's going on. i've done all sorts of research, read earnings reports, looked at chart patterns. i've even built my own historic trading model. and you're still not sure if you want to make the trade? exactly. sounds like a case of analysis paralysis. is there a cure? td ameritrade's trade desk. they can help gut check your strategies and answer all your toughest questions. sounds perfect. see, your stress level was here and i got you down to here, i've done my job. call for a strategy gut check with td ameritrade. ♪
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said they would be open to extend u.k. deadline to leave europe, but only if britain holds a proper vote. over to the general population. not just parliament. in other words, the french and the german turnout dictating british politics. how about that? transferred if they are to have a popular vote? stuart: yes, they did. but they went another one with the reverse decision. let's get back to the president summit in hanoi with kim jong un. they shook hands, had dinner. the big summit meeting is tomorrow followed by a signing ceremony plus a news conference. joe rubin is with us. former deputy assistant secretary of state. welcome back. the media is going to say you're going soft on kim jong un if there is nothing in this agreement to show a specific retreat for north korea's nukes. that is going to happen, isn't it? >> yeah, and fortunate framing. a lot of wiggle room between
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perfect and imperfect. what we need to see is where president trump has been taking this. but we need to see more concrete types about the process for diplomacy going forward. that is structured. i think that's where he may have come up short in the last summit, which seems to end after the summit and the diplomacy was stopped. that needs do not happen this time in order for there to be more confident in the media does need to get up to speed with the idea we can actually have a diplomatic process not old ones. stuart: to look on us favorably? shaking hands, big smiles all around. a signing ceremony tomorrow. as an observer from 10,000 miles it looks positive to me. >> it does. it's always important to have an interaction between leaders, but the question is what is this one do with that? it's ultimately not about individuals. it's about what they're advancing for their country. the president if he can take us
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better relationships and leverage it to a process to do nuclear is north korea, to potentially have a peaceful agreement, a peace agreement with north korea instead of dialogs that are ongoing, that's crucial. we also need to ensure verifiable steps taken by north korea towards denuclearization because that's a critical national security priority not just for us but japan and our allies in the region. stuart: some reports out of venezuela, first off opposition leader juan guiado is losing momentum. supporters getting impatient with his lack of a concrete plan to move forward. national response press, the news agency treated earlier this morning, poe, venezuelan foreign minister calls for direct talks between trump, maduro in u.n. speech. now, is there a lack of momentum here? has juan guiado stalled? >> it appears that maduro has clearly been able to triage a
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bit the bleeding that has taken place in venezuela. but guiado -- in colombia the other day continuing to work with our allies not a critical component for the administration continues to stay close to our allies. not to go further. not to make military threats. to keep the pressure on. clearly this argument coming from the foreign minister is designed to reduce that pressure. so while one doesn't immediately see the change, and that doesn't mean there is a stalling. it means there is a process inside venezuela creating pressure on maduro. stuart: earlier this week when we received news of four killed and hundreds injured on the border, trying to bring food and medical supplies into venezuela, i thought surely this is endgame. we are not going to let this go on. i thought it would be over by the end of the week. certainly early next week. that's not going to happen.
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>> this is the big open question. how far the venezuelan armed forces willing to go? there were 300,000 troops they have under their command, under maduro's command. are they willing to really massacre their own citizens like bashar al-assad has done in syria? are they willing to see their country completely collapse? the pressure on the military leadership in particular is extremely important to try to peel them away so the killings were horrifying, but it looks like the military also understand they don't necessarily want to go too far. stuart: speculate with me. i hate to ask you to do this. the venezuelan shoots people by the hundreds in the street and kill time. what are we to do? >> if there is a massacre commented were not only going to have to call for a complete embargo of the country, but we will have to potentially put on assets of information gathering to help support forces or
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individuals on the ground, guiado and his allies to protect civilians. what i would not advocate at this moment unilateral military action into venezuela. it's incredibly complicated and we have to have a clear and goal. but we have to make it clear now and this goes to your point, which is the excellent point now that there is no way, shape or form that maduro should be using forces against his people and they will be harsh penalties for that. that needs to be consistent message up and down the chain. stuart: yeah, make it clear. thank you for joining us. later this hour, we'll be joined by two men helping former athlete bridge the gap between professional sports in a professional career. one of the gas as a wide receiver for the new york jets. no one am not zero, 27-year-old third baseman signed a record facebook contract with the colorado rockies. the largest contract in history. the rockies -- sorry, what am i
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stuart: were all about money and its programs are going to talk sports for a minute. news of another record contract. rockies third race men just signed a $260 million contract to stay with the team through 2026. that would be $32.5 million per year. now this. if you've been thinking about starting a small business in a new city, portland, oregon should be her headquarters. according to a new study from go banking rates.com, they looked at everything from account savings like state and local taxes, tax rates, startup, that kind of thing. portland was a good choice. but not everything is great in portland -- an oregon i should say. they're set to become the first state in the nation to implement mandatory rent controls. they are struggling with the housing shortage. rents are doubling in some cases. too many people flocking to oregon and evidently to start their small business.
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congresswoman ocasio-cortez slamming ivanka trump over criticism of the greener deal. most americans do not want a handout. aoc response. we will deal with that in just a moment. ♪ i switched to liberty mutual because they let me customize my insurance, and as a fitness junkie, i customize everything. like my bike and my calves. liberty mutual customizes your car insurance so you only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ our grandparents checked zero times a day. times change. eyes haven't. that's why there's ocuvite. screen light... sunlight... longer hours... eyes today are stressed. but ocuvite has vital nutrients... ...to help protect them. ocuvite. eye nutrition for today. shouldn't mean going back to the doctoro
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stuart: still down triple digits. coming back a little up 130 points. the market came down after trade route robert lighthizer speaking on capitol hill said that it's too early to say -- too early to predict the outcome of the china trade talks. that was taken as a negative in the market sold off on that comment. how about the 2020 race. joe biden sure looks like he's getting ready to run in 2020. even his family wants him to run. watch this. >> uncertain about where the family is. but the second piece is that i don't want this to be a fools errand. and i want to make sure that if we do this and we're very close to getting to a decision, but i am fully prepared to do it.
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stuart: a smile on his face. the lady on the right-hand side of the screen is allie stuckey, resident millennial and host of the podcast relatable. okay, it looks to me like he's going to get in. he is a moderate, certainly compared to the rest of the field. could he be president trump? >> well, right now there is a pull out by harvard that says he is actually beating the field and presidential candidates, even though he hasn't even announced yet. bernie sanders is number two, which tells me maybe he might have to appeal to the middle-class voters who did not vote for trump court are displeased with jumper feel like you might represent them. bull voters care more about the intersectional boat then they will about whether or not he's moderate. we just don't know. the democratic socialism, women and minorities were just not
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sure. stuart: this intersectional d., i've asked you about this before. liz, intersection à la the come you get points for being minority, gender, it better outcome at saturday. so it counts. having said that, do you think joe biden could be president trump? liz: ironically, given what you're saying, the reason for a candidacy would be to appeal to the white working voters that hillary clinton couldn't roll over 2016. the issue is this president obama supporter joe biden run? president obama has been silent about joe biden running. is he obama's choice? listen, this is a grueling race and grueling by president trump in the way he goes on the attack including personally. we have to watch joe biden and the thought process here. can he do it? does he want to do it? does he have the energy for it? stuart: alley, can he get through the primaries? he's going to be facing real
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left-wingers and it's the activists who, to vote in the primaries. can they get past that? >> well, think it's difficult. liz made a great point of whether or not its president about his candidate. people on the left and far left love president obama, specially now considering how much they hate donald trump. do they have a sense of nostalgia about president biden -- vice president biden that they're willing to support him or like i said, are they looking for a fresh face? are they looking for someone to represent women, minorities, a full on socialist like bernie sanders. maybe there's not room for a moderate anymore. we will have to see what it looks like after the debates and after he officially declares he's going to run. stuart: guaranteed you and i'll have a lot of fun with this 2020 race. i want to talk to you about ivanka trunk. what she said about alexandria ocasio-cortez when she sat down with fox news steve hilton. roll that tape, please.
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>> you've got people who will see that offer from the democrats, progressive democrat like alexandria ocasio-cortez. here's a great new deal. he is a guarantee of the job. yeah, that's what they want. that simple. would he think of those people? >> i don't think most americans in their heart want to be given something. i've spent a lot of time traveling around this country over the last four years. people want to work for what they get. so i think this idea of the guaranteed minimum is not something most people want. they want the ability to be able to secure a job. they want the ability to live in a country where there's the potential for upward mobility. stuart: got it. aoc fired back with this tweet. quote, as a person who actually worked for tips and hourly wages in my life instead of having to learn about it secondhand, i can
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tell you that most people want to be paid enough to live. a living wage isn't a gift, it is a right. far less than the value they create. allie, work, a job. is it a right? >> of course not. but aoc seems to think so. what are the things she listed in her faq what she was going to provide not a job, but economic security for those unwilling to work. in her mind, it is not just that you have to work for what you have or to work to be economically secure. they have to exist in the government is going to take care of you. aoc has a very different idea of rights versus privileges. ivanka trump is exactly right. it is innate as the american spirit to work for what you have and what aoc doesn't seem to understand is that raising the minimum wage has all kinds of economic implications of actually are beneficial even for those on the bottom.
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economics 101 is something she'd be able to comprehend yet. stuart: did not here somewhere but aoc used to be a bartender, worked in a restaurant. give me an update on that. >> the play she worked at me is gone out of business because of higher wages. aoc herself -- she herself is an example of moving up the food chain. the question is, ivanka trump is talking about incentives. she's talking about how 50% of the lower brackets jump into the higher brackets between 2005 in 2012. that's what this country is about. venezuela had frozen what we call first and job your job guarantees. people did not have to show up to their jobs under chavez and maduro and still get paid. this is what ivanka trump is talking about.
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stuart: have i got this right the american dream is you work, you save and try to climb the food chain as far as your brain tallow oil take you. aoc's view of the world is give it to him because that's their right. you don't have to work for it. have a sum that up right session mark >> you have. not because they're giving opportunity, but if they are not opportunity, they're going to take it as far as their talent and work that they give is able to take them. they simply are given something and to rest in mediocrity for the rest of those. we simply have. stuart: alley stuckey, thank you for joining us. we'll see you again. i do have another headline from
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ocasio-cortez. new york governor cuomo said in a radio interview that the congresswoman's election victory caused a political shift among local democrats. cuomo said aoc was ultimately responsible for amazon's decision to ditch new york city for its second. transfer i don't know about that, other democrats who vociferously oppose this. it should be noted cortez won just 16,000 votes to win her seat in the house. you know, and i don't think you could pin this on cortez. she certainly was a vocal opponent. stuart: she really kicked up a lot of dust good >> when state senator had veto power over that project. stuart: but there has been a shift. liz: that's a good point. stuart: corporate stories coming here we go. amazon could be a déjà vu there for the companies brand. local activists protest the project. they say what they look to the
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success that aoc had in getting rid of amazon in new york city. locals say in virginia had just raised housing prices. they don't want amazon. check weight watchers, way down after an abysmal earnings report. not looking good for this year 2019 either. oprah winfrey, she's got an 8% stake in the company. she took a hit. she may have lost up to $48 million in this debacle today with weight watchers down 10 bucks a share, where a louver 30% down. general motors with a lawsuit on the other workers. the union said gm broke the agreement when it they announced they were shutting multiple plans enough for 10,000 people. ceo mary berra is defending the layoffs. the stock is virtually unchanged. to google, the next home security system came under fire last week because it was reported they'd never told users that max had a microphone. now the senate wants to go why they didn't tell everybody.
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a letter was sent to google ceo asking for answers or the company has until march 12th to respond. house respond. house democrats unveiling their medicare for all built without saying what it's going to cost. they do say they want the federal government to pay for health coverage for every american, replacing most employer responsive plans. it just sounds like universal health care, like the british have got it. meanwhile, the house has rejected the emergency declaration. speaker pelosi insist the only crisis is the humanitarian crisis on the border. we will deal with that one as well. it is coming up next. i knew about the tremors.
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but when i started seeing things, i didn't know what was happening... so i kept it in. he started believing things that weren't true. i knew something was wrong... but i didn't say a word. during the course of their disease around 50% of people with parkinson's may experience hallucinations or delusions. but now, doctors are prescribing nuplazid. the only fda approved medicine... proven to significantly reduce hallucinations and delusions related to parkinson's. don't take nuplazid if you are allergic to its ingredients. nuplazid can increase the risk of death in elderly people with dementia-related psychosis and is not for treating symptoms unrelated to parkinson's disease. nuplazid can cause changes in heart rhythm
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and should not be taken if you have certain abnormal heart rhythms or take other drugs that are known to cause changes in heart rhythm. tell your doctor about any changes in medicines you're taking. the most common side effects are swelling of the arms and legs and confusion. we spoke up and it made all the difference. ask your parkinson's specialist about nuplazid. stuart: the dow was down right now about 114 points. the problem today has been a statement from robert lighthizer, trade guy. he's testifying before congress in one comment to the market down. it is too early to predict the outcome of the china trade talks. however, he said it was going to be an executive agreement. liz: that's right. speedier transition to a trade deal. traders are hyper focused on the timing of the deal good when will it happen?
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when he said that the market started to kick downward. the president pushing this forward, the timing of it. stuart: we are down now just exactly 100 points. i call that relatively positive. got it. we will be back. or it isn't. it's inspected by mercedes-benz factory-trained technicians. or it isn't. it's backed by an unlimited mileage warranty, or it isn't. for those who never settle, it's either mercedes-benz certified pre-owned, or it isn't. the mercedes-benz certified pre-owned sales event. now through february 28th. only at your authorized mercedes-benz dealer. ...that's why i've got the power of 1-2-3 medicines with trelegy. the only fda-approved 3-in-1 copd treatment. ♪ trelegy. the power of 1-2-3
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that. india and pakistan have exchanged bombings and of exchange fire. they fired on each other. i would've thought the war between india and pakistan would've put the price of gold. i'm wrong. it is down six bucks a 13.21. check out the price of oil, please. that has gone up to $57 a barrel. we had a report this morning that 8 million barrels per day been taken out of storage. in other words, were using a lot of oil. demand is very strong. up goes the price $57 per barrel as we speak. the national average for gas -- i hate this. now it is $2.40 per gallon. that not exactly is. i agree with that. it's not as good as 225 a couple weeks ago. liz: we watch articles in pennies. stuart: we have new details -- this is interesting.
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many star athletes find that adjusting to life after say football is really challenging. our next guest helps bridge the gap between playing professionally of landing another career in the corporate world. he's launched a mentorship program mentoring program. he works at both former and current nfl players such as quincy newmar. the pronunciation, tell me. >> you're right. stuart: other people you work with. first of all, you sir are a chimney sin. you've got the mentoring program. >> we are working on it. an amazing job now and were excited about his future roadmap ahead. stuart: why are you doing this? >> we find businesses and nfl players have an amazing connection. the nfl is a $14 billion industry, but there's so much opportunity and nfl players have
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3.3 years on average. really thinking about what their transition post-nfl is critical while they're still in the game. stuart: you own big bucks for a limited period of time. >> we try to. not everybody gets that opportunity. stuart: but you need something when you finish playing. >> so far it's been a great relationship with him. hopefully blossoms into something more. i just met him a couple months ago but from what a son with other players it's amazing i hope as i go on and start to figure out what i want to do it can definitely take advantage. stuart: you want to get into technology? >> technology would be awesome. i did an internship with them. stuart: did you like it? >> i did like it. stuart: got into the corporate world right off the playing field. >> still in the playing field. for me it's like i want to make sure you know what i'm going to do after i'm done playing football.
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it's good to kind of dive into things right now to get a little bit of a background so when i'm done i can jump right in. stuart: what did you have to do for this guy to get him into the corporate world? did you have to calm him down? i don't know what you do on the football field. bash people, is that right? >> yeah, guess you could say that. i'm a receiver. stuart: sear the guy who runs like the devil to the far end and hopes to catch it. >> exactly, yeah, yeah. stuart: how fast can you run 100 meters? >> at a time that since high school. 40 yards i did 445. stuart: you didn't use that talent that stub hub. >> just running to macy. stuart: how many other players you work with? >> tethers quincy, just import that, dominic, marshall newhouse. what's great is these are all players raising their hands and they want to make it a
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difference has been entrepreneurs, being investors in working with the community to create jobs, drive the economy. stuart: and you want to bring these guys into the technology world because the other side of your business is working with technology companies. so you're the pathway. you've got a road into technology and you put guys like us on the road into technology. >> that's exactly it. executives love connecting with nfl players. what is wonderful about it -- stuart: why do they love connecting with nfl players, guys who beat people up for living. but the attraction? >> so many ceos and executives doesn't move the needle. but when you can be around someone in their profession and it creates buzz in the office environment, having quincy walk around companies engaged, interested in people actually interacting within, that makes a huge difference in their job.
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stuart: are you investor? >> hope to be. recently signed a new contract with a little bit more playing room. stuart: some more money coming in. >> main focuses more on what i want to do after football. i would love to invest, but i want to make sure i'm not bored on the couch after i'm done playing football. stuart: you just have to keep your money. it's a tough world out there and telling me that. >> i definitely experienced it. stuart: still playing for the jets? >> yes, sir. stuart: quincy, both of you, thank you for being with us. we appreciate it. after the break, we are going to deal with medicare for all. you want to hear this. will be back. ♪ this is the all-new chevy silverado. it's beautiful. beefy and mean looking. it's the strongest, most advanced silverado ever. the cab is bigger than the last generation. it's the first truck i've seen make you look small.
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stuart: all right, details on the democrats medicare for all plan. under this plan, the federal government would pay for the health care of every single american. universal health care. congressman bart gordon mullan kummer public in oklahoma so does now. will any republicans vote for
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this, sir? >> stuart, i don't think so. this is really devastating. we knew this is where they were headed when they tried to do aca, which he has a fancy tagline, portable health care. they found out it's not affordable to another trying to use another fancy tagline that says medicare for all. stuart: it amazes me they go so far. the plan would eradicate private health insurance, which 150 million americans get from their employers. it would get rid of that. >> the author of the bill, jay powell even said herself that this would eliminate 1 million to 2 million jobs in the private sector and would phase out basically independent health care within two years and turn it to one universal health care system across the nation. stuart: well, what is the republicans plan? health care is going to be an issue in 2020. what are republicans going to put out there? >> woodcutter planet two years
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ago we try to repeal and replace aca. at that point were trying to encourage the private sector to come alive and have more choices in their health care coverage. a plan that's tailored to them, not a one-size-fits-all and get rid of the benefits they required under aca. as individuals i don't need to have coverage -- listen, i'm never going to be pregnant and one of the health care provisions was all health care plans to provide for pregnant me. and that is impractical. while we try to do is republicans try to allow the individual market to come alive, once again compete for business. not just have one provider out there. medicare for all doesn't work. they say it's going to cost $32 trillion in the first decade alone. stuart: bigger plan was defeated. it didn't pass. you've got to go into 2020 with something new that's going to bring people in.
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one more thing before we close. the house says no to the president's emergency declaration. then it goes to the senate. they may say no to the emergency declaration. eventually it will get to the president who may well be two-way. you'd be okay with that? >> absolutely. the house democrats is what did it. what is funny about this is in 2011, obama himself passed a national merchants react for the southern border. because of the criminal lack committee by the cartels on the southern border. at that point he dispatched national guard four times underneath obama. they dispatch national guard to her southern border. this is nothing but political purposes. they're not saying whether against it. they can't argue the fact that as an humanitarian crisis, national emergency going on. criminal activity flowing into
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america and they are just against it because they don't like the president. that is ridiculous. stuart: if you look at the polls, most polls show is 6040 against the emergency. >> the reason why is because most national outlets are given the facts. they are not say 90% of the heroin across the southern border. they are not telling what the sex trafficking in human trafficking coming across the cartels are using to $.4 billion over. not the sentinel killing people at a faster rate than drunk driving a car crashes are. they are not giving up facts right now. the democrats are really good about throwing out one-liners like affordable health care for medicare for all. even the greener deal. but they don't have to explain it. they just throw it out there even on this medicare for all. even the author of the bill says later on show put out the details of how to fund it. i ridiculous as that.
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stuart: congressmen markwayne mullen, thank you for joining us today. >> appreciate you having me on. stuart: there will be more "varney" after this. ♪ . . .
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stuart: market is coming back a little bit. now we're down 90 points. we had been down 150. three big retail names, first off, best buy, big winner. higher holiday sales. smart home devices. tjx, parent of marshall's home goods. better traffic in the stores. upping the dividend. home improvement people. lowe's, sales hurt by weak housing market in canada but they upped the forecast for the year. lowe's is up after this. look at this, the disaster de jure, weight watchers. they're down 33%. apart from not signing up enough people. what is the problem? liz: the chef executive weight watchers, popular, high fat, low-carb diet keto killing us or keto doughnuts or bacon, eat it, lose weight, weight watchers is shifting from losing weight, still is, more to wellness.
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keto people lose a lot of pounds on keto diet. maybe i take it up. stuart: keto, keto my time is up, speaking of diets, neil, it is yours. neil: wasn't that the green hornet's sidekick? liz: kato. stuart: kato. neil: my bad. i'm coming back at you stuart, with the diet comment. that is another show another day. stuart: thank you my friend. neil: the soaring debate overweight watchers, what is dooming it today. front and center is the president meeting with kim jong-un in north korea. at least the president is optimistic. >> we made a lot of progress. and i think the progress was your relationship is really a good one. a lot of things will be solved. i hope, it will lead to wonderful, it will lead to really a wonderful situation.

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