tv Varney Company FOX Business March 6, 2019 9:00am-12:00pm EST
maria. maria: incredible. lot of excitement around that. thank you, lauren. great show, you guys. so much fun to talk about today. thank you for joining us. happy to be here. have a great day. "varney & company" begins now. seize the day. stuart: i'm seizing. i'm seizing. good morning to you. good morning, everyone. stop laughing. if this is not an emergency, i don't know what is. a record number of families arriving at our southern border requesting asylum between october and february, the number of illegals apprehended doubled from the previous year and the flow is speeding up. border patrol says the system is at the breaking point. but the house has denied the president's emergency declaration and the senate looks likely to do the same thing. how long will the democrats maintain their open border policy? the border crisis does not directly affect your money but surely it will affect directly the 2020 election. that at least is my opinion.
let's deal now directly with your money. the market looks to be in a holding pattern, waiting for solid news on the china trade talks. silence on those talks thus far today. little movement for stock prices. the dow was down 100 yesterday, down maybe 30 this morning. the nasdaq may be down just a couple of points at the opening bell. and now a medical breakthrough. the fda has approved an unusual treatment for depression. it's a nasal spray and uses ketaline as an active ingredient. it is quickly effective with cases of depression where other treatments have failed. johnson & johnson have developed the treatment under the brand name spravado. yes, we have another big show on the way. news on mike bloomberg, maybe news coming on joe biden as well. and of course, alexandria ocasio-cortez. "varney & company" is about to begin.
stuart: billionaire mike bloomberg not running for president next year. here's what he had to say. i believe i would defeat donald trump in a general election but i am clear-eyed about the difficulty of winning the democratic nomination in such a crowded field. joining us now, fox news contributor jason chaffetz. hillary is not running. bloomberg is not running. looks like the decks are cleared for biden, right? >> i do think biden has the best shot of everybody else out there in the field. i think mr. bloomberg would have been very formidable. he came with a lot of money, he had some name i.d. identification out there but i think he is right on at least half of it. clearing that field and winning in the crowded democratic field, very difficult to do. but i do think the reality of beating donald trump was zero to none for mr. bloomberg. he does not have the personality, he does not have
the where with all, he's on the wrong side of core issues with middle america, namely the second amendment and ultimately he would fail and he probably made the right decision by not running. stuart: is the field too crowded with leftists? sure looks that way. they will dominate the primaries, presumably. maybe that's what mike bloomberg was thinking. there's no point in getting in because i can't beat the left. >> well, they have gone to such radical extremes out there in the left but i do think somebody like governor hickenlooper is a more moderate, palatable, he's been in the real world as a governor, he is probably more formidable. some of them are just flat-out running for vice president, trying to make a good show or hope they can get into the cabinet. at this point, i don't see anybody that can beat donald trump. he's got a solid base, he's raising money and the economy and the country is doing well. foreign affairs are going well. the country is safer and the
democrats are on the wrong side of securing the border and a host of other core issues that at the end of the day come november 2020, people really care about. stuart: you have wrapped up the election 2020 for us very neatly there, jason. stay there, please. i've got more for you. stay right there, please. we will get back to him in a moment but i have this. new jersey's governor wants to raise the income tax on those making more than $1 million a year. that money will help pay for expanding preschool and making higher education more affordable, et cetera, et cetera. liz peek is with us, foxnews.com columnist. load up the moving van. >> yeah, exactly right. more people are moving out of new jersey than are moving in. it's the most moved out of state in the country. that's really awkward. lots of people are leaving, including lots of millionaires. 6,000 millionaires just from northern new jersey alone. i don't know why northern new jersey is so much the topic, but look, they just raised taxes in new jersey last year. that's really the important
thing to know. so when they say that oh, we're just going to do this much, that's never the case. by the way, the real problem in new jersey, as it is in so many blue states, not taxes. they keep raising taxes. it's spending. spending was up over 4% in this year's budget. guess what? inflation is not 4%. they do not -- they should not be looking at that kind of spending hike year after year. that's why they are in trouble. their public employees union problems are paramount and they won't address those. that's the issue. stuart: you know what gets me? governor murphy is a multi-millionaire himself with a villa in italy. he made all of his money. now he starts taxing people like him after the door is bolted. liz: they are really cutting their own throats. the blue states are in trouble. stuart: i'm sure you saw this, liz. banking regulators are talking about limiting the pay on wall street. if they manage to do that, and they might because this is
backing regulators, not politicians, what's the effect? >> the effect is basically a wounded industry. i think we should look at wall street not as the industry only that created a financial crisis, which is what the left always talks about, but also that it's one of our leading industries worldwide. we are the apple of the financial world and you know, everyone in europe, basically they have a financial transactions tax, something the democrats are lofting here now, because they are basically attacking wall street. you know, the ignorance about what is done on wall street, the capital creation, the good that this industry does, the industry won't actually ever speak up for itself because they are easily slammed by people on the left, but you know, this is just sort of, i call these willy sutton taxes. that's where the money is, that's where they go to tax it. kristina doesn't know who willy sutton was. kristina: i'm shaking my head because the conversation would be reduced if the losses pile up. there's a caveat. if there's losses, these guys
shouldn't be getting massive bonuses. stuart: there is a restriction on pay. that's what they want to do. that's a restriction on pay. that's a government agency putting a ceiling on compensation in a specific industry. i don't like it. kristina: if you were a shareholder, you wouldn't mind if these guys got $20 billion but you didn't get paid dividends or you didn't see the stock go up because they're getting paid? stuart: i want to see success. kristina: don't you want to make money? stuart: i do not want to see a government agency dictating pay. legislating pay. >> that's elizabeth warren's approach, put a public employee on corporate boards. they have that responsibility. if they don't handle it appropriately, they should be out. that's the mechanism by which we guard shareholder interests and corporate pay. that is true. that's supposed to be the way. stuart: you are good. okay. i have had enough of all this talk of limiting pay and taxation and heaven knows what s
else. look what we've got now. the number of migrant families crossing the southwest border. 76,000 just in february which, by the way, is the shortest month of the year. 76,000. come back in, jason chaffetz. how does this play out? this clearly is an emergency on the border. how does this play out in 2020? >> we are being overwhelmed on the border. talk to anybody who works on the border patrol. they will tell you, they cannot keep up with the surge. congress did not properly fund the beds. word has gotten out in central and south america that if you come north, you have a chance, at least a chance of getting in here, and the president is clearly trying to act within his authority, and he should be able to do that. stuart: but he won't, will he? it's possible the supreme court will not hear him or refuse to allow the state of emergency. >> well, look, for the senators
that are considering voting no against the president, essentially taking the position that he shouldn't be able to use this emergency declaration, it's congress that gave him that authority. if you want to get rid of that authority, then pass another bill. if you give him the authority, as you have, and you have already authorized in the past the secure fence act, they should be able to take that money and fund it. and anybody who is down there and sees it in person understands these poor border patrol agents are overwhelmed. those are just the ones who we are catching. we know there are lots of other people getting through. stuart: you can't have open borders in the era of mass migration. you can't have it. jason, thanks for being with us this morning. always a pleasure. thank you, sir. >> thank you. stuart: congresswoman alexandria ocasio-cortez has not ruled out an appeal to amazon to come back to the city, new york city, that is. sounds like a reversal, ash? ashley: kind of. she says look, if they started by doing community meetings and really talking to people and working with the local
communities, she would be much more on board. that is definitely backtracking on what her objection was in the $3 billion worth of tax prices and public incentives. but it's too late, obviously. by the way, amazon did respond to this comment. it came from her chief of staff. amazon said you know what, on day one we had our first community meeting in queens bridge houses, the massive public housing project close to the area where amazon was going to move to and they held community meetings throughout. not quite sure what she's talking about, but bottom line is, i don't see amazon, despite governor cuomo's desperate efforts, are going to turn around and say oh, okay, aoc, now you're not so mad at us, we will move back in. she's really blown it. stuart: why come to a city where large numbers of people don't want you and will parade in front of your private house screaming you are a racist? who needs that? not me. check the futures, please. where are we going when this market opens up this morning? we will be down a little, not much. 19 points down for the dow. that's it. europe once again going
after big tech. this time it's france. lawmakers there proposing a new digital tax that would cost companies like facebook and google billions of dollars. we've got the story. chinese hackers hitting our universities, trying to steal maritime technology being developed for the military. coming up, we will talk to our china expert. he says this kind of theft is not going to stop. house democrats delayed voting on a measure to condemn anti-semitism following controversial remarks by ilhan omar but progressives like aoc want to add anti-muslim protections as well. congressman zelden weighs in and he is next. n option. more than half of employees across the country bring financial stress to work. if you're stressed out financially at home, you're going to be too worried to be able to do a good job. i want to be able to offer all of the benefits that keep them satisfied.
stuart: former nissan chair carlos ghosn released from jail in japan. tell me more. kristina: in tokyo on bail, $9 billion. he said it was a terrible ordeal. what you are seeing now is a picture of carlos ghosn himself. he was dressed up in a workman outfit. he has a blue cap on, a mask, trying to cover his face, yet if you zoom in, you know that it is him. this comes after they were pressing charges, they have been looking into this case for quite some time that he has used money for his own personal derivative contract essentially for his own use, as well as failed to disclose $80 million in compensation. there you go. he's stuck in japan, though. stuart: they took his passport, right? kristina: yeah. stuart: under surveillance. yep.
the japanese government-approved house is where he is. kristina: shows what really good lawyers could do because they rejected bail twice before the third time. he got a new team. stuart: remind me if i'm in japan, get a good lawyer. the house vote on a resolution condemning anti-semitism has been delayed. they are scrambling to rewrite the bill to include all forms of prejudice including anti-muslim bias. this started after congresswoman ilhan omar made more comments interpreted as anti-semitic. joining us, lee zeldin, republican. why is nancy pelosi having a hard time getting her caucus together? >> because instead of leading that fringe of her party, she is being led by it. she actually has a bunch of democrats in her conference who are deeply offended by what congresswoman omar has stated,
and would want a resolution to be voted on that names names. unfortunately, what's happening with three of these freshman democrats in particular, aoc, alexandria ocasio-cortez, tlaib and omar, they are rallying the far left of the democratic party and what's really concerning here is the far left of the democratic party pushing the anti-semitic trope, the anti-israel statements and policy as well, is actually growing into a larger and larger segment of the democratic party. so what's going on here as far as the internal politics is she's being led by this fringe left, but that fringe left is actually representing a lot more of the democratic party than before. stuart: that's why it's all been watered down. it's no longer a straight there at revolting anti-semitism. you have to broaden it out so everybody can get involved in it. >> what should be noted is the
resolution that they decided to water down was already watered down. they didn't even mention congresswoman omar's name. i introduced house resolution 72 with congressman ted budd, 100 co-sponsors. that mentions congresswoman omar's name, congresswoman tlaib, louis farrakhan, it just gets to the heart of what exactly we are facing with anti-israel and anti-semitic hate in the u.s. and around the world. that should be brought to the fore. stuart: is there room in the democrat party for jewish voters and what i would call anti-semites? >> there should be no room in any american party for anti-semites. we had this conversation during 2016, we had this conversation a few times during the 2016 campaign, how much of the jewish vote donald trump would get, and that number wasn't close to ronald reagan's 40% in 1984.
it actually was more like 25%. so just think that 75% of the jewish voters in america were voting against donald trump and i hope in 2020, more decide to do the right thing because president trump moved the embassy in israel to jerusalem, withdrew from the iran nuclear deal, is fighting against anti-semitism and for israel at the united nations and abroad so hopefully more jewish voters recognize that, but this should be a bipartisan issue and one other thing i would mention is on top of the resolution, they should also be taking congresswoman omar off the foreign affairs committee. stuart: sorry, i'm up against a hard break. congressman, thank you very much for joining us on an important day. appreciate it. a suit and tie no longer required at goldman sachs. it's the first time the bank issued a company-wide directive on relaxing its dress code, all because they want to attract millenials. ashley: casual millenials. - i think the best companies succeed as a team,
and our shirts from custom ink help bring us together. we just upload our logo, and if we have any questions, customer service is there to help. - [male] custom ink has hundreds of products to help you look and feel like a team. get started today at customink.com. stuart: is this a sell signal? goldman sachs relaxes its dress code. no more, what, suits and ties optional? ashley: yes, new flexible dress code. company-wide, some 36,000 plus
employees. however, don't expect goldman employees to be turning up in jeans or shorts and flip-flops to meet with clients. they have to dress appropriately. but they are trying to have a more laid-back environment. they say hey, basically, use your discretion but they are trying to be more laid-back because two-thirds of the people that work at goldman are millenials. they are also competing for top talent with silicon valley. let's face it, millenials today expect a laid-back work environment. stuart: you can go to work in a hoodie in silicon valley and make a million bucks. don't expect to go to work on wall street in a hoodie and make a million bucks. ashley: no. stuart: speaking of sharp dressers, joining us now, shah galani. look at that. nothing casual there. what do you make of goldman sachs? what do you say? >> it's not surprising. it's a bit sad. i'm an old-fashioned guy but i like the idea of a uniform. i like the old wall street
uniform from my 25 years on the street, certainly wore a suit every single day. but times of course are changing, and a lot of these fol folks, i understand the age bracket of the wall street guys, especially at goldman sachs, i think 70% is now millenial and gen-z. they don't want to wear suits. i think it's unfortunate. i think it's going to be confusing for them, also, because wall street has gone this way before and the folks, the guys especially didn't know what to wear. they had to go back, some of the firms, to wearing suits because guys would walk in in shorts, jeans, cut-offs and this and that. it was a bit of a problem. stuart: wasn't there a tv show called "what not to wear" and it was a good show. kristina: great show. i watched it. i think this isn't going to catch on too quickly. i have friends who work in banking and they still go by that tie because it's a status symbol and the little cuff links. they still want to stick to tradition. stuart: question for the audience, would you still watch
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stuart: the opening bell will ring in 13 seconds. then we will start trading on this wednesday morning. we were down 100 yesterday. we will probably be down a little bit on the dow at the opening bell when trading begins, and it is about to begin now. 9:30 eastern time, off we go. we are down 13. we are up 12. we are up 6. we are up 6. i'm going to call this a go nowhere day, dead flat. can i say that? dead flat for the dow. show me the s&p real fast, please. right. there you go. it's dead flat. .01%. how flat can you get? how about the nasdaq? that is flat up. up .01%. i think we will agree on flat, f-l-a-t. got it. shah galani is here. all right, i say the markets are on hold, dead flat, waiting for some news on a china trade deal. what say you? >> 100%, they are hanging on
every word that comes out of washington, every word that comes out of executive office, every word that comes out of china and they are moving on that news or lack of, so yes, that's exactly what they are doing. they are in a holding pattern. i don't think this is going to change until we get something one way or the other. as i said on your show, i think we are going to get certainly something positive. i don't think it will be a comprehensive trade deal. it will be enough to move the market higher when we do get it, though. stuart: got it. let's take a look at ge. this was your dad's big stock. it's not anymore. they took a huge hit because they said their turnaround is going to take a long time. i notice they are down another 6% this morning. ashley: yeah. stuart: what's going on here? >> you heard the expression sometimes bad news is good news? sometimes bad news is just bad news, right? they are talking about how they will burn some cash this year, it will take longer than expected. the problem is ge's accounting over the years has been so complicated, it's hard for people to get their heads around and the real underlying problem
is i think they have basic problems with the competitiveness of their product that has forced them to get too fancy with their financing. stuart: that's the story. they are back to $9 a share. they were just $11 a couple of days ago, as a matter of fact. okay. check the big board. we are now two minutes in and we are up 23 points. 25,828 is where we are. we have a rosy forecast for the future from abercrombie & fitch, a nice retail story. the stock is up nearly 14% on that. however, american eagle warning of a possible sales drop. all right. it's up 2%. i will dig into that for you. there might be more on american eagle than meets the eye. how about general motors? ending production at its lordstown, ohio plant today, two days earlier than expected. that plant made the discontinued chevy cruze. the stock is shy of $40 a share. interesting story from the fda. it has approved j & j's ketamine-like drug to treat
severe depression. there is controversy here. spell it out. kristina: it's controversial because it's like special k, the drug you would use at parties to have out-of-body experiences. however, three qualifications. if two or more antidepressants don't work on you, you can get this. if you are highly suicidal. you cannot take this home, you have to do it at a center, approved center. stuart: because they don't want this to get out in the general population. it would be abused. kristina: exactly. stuart: johnson & johnson barely moving on the news. the whole foods chief, the ceo there says they may start carrying marijuana products. this is not just the oil, cbd. it doesn't get you high. no, this is thc which does get you high. >> i can't imagine what this will look like. the fact they would do products with the non-psychoactive component doesn't surprise me. half the things in the store are things with dubious claims about health benefits, help this, whatever that, talking about
benefits, some kind of crazy shampoo or something. that, i'm not surprised about. are we really going to go to whole foods sometime soon and buy pot brownies? is that what's going on here? stuart: what do you say, shah? looks like this is a major company opening up to thc. get you high on marijuana. that's what it looks like. >> i think it's a big deal for the marijuana industry. i don't know if it's going to move the needle much on amazon. but when you think about amazon whole foods, this national company pushing cannabis with thc in it, that has implications for the banking side which is the one thing that has prevented the cannabis industry from really growing at a pace that everyone expects it to grow to. this may break that down. i think this is big news. stuart: yes. >> can i get that delivered, by the way? stuart: that was my question. why can't i get pot brownies delivered? why not? kristina: the future is coming. >> it's a wonderful world. kristina: we will all be high. stuart: america moves fast, doesn't it?
kristina: dressing down and smoking pot. stuart: thank you very much, kristina. harley davidson brought us kids' electric bike maker, those are electric bikes for kids, i think they are $700, something like that. they are trying to hook riders at a young age? >> i saw something about riders as young as 3. my little guy's got a dune buggy at 4. he's just fine with that. i like the low center of gravity. not sure i'm looking for this. harley has problems. there was a note from an analyst this morning saying a lot of it is riding on tax refunds, what it looks like with people buying new bikes in spring. if you are cutting it that close, where people are living or dying on tax refunds, you are struggling. stuart: i have a granddaughter who rides a very powerful motorbike to round up the cows on the farm in new zealand. i digress. you should see it. she's something else. heaven forbid she comes in this studio. home depot hiring 80,000
workers this spring. they are going to spread the jobs over 2,000 stores, about 100 distribution centers. shah, that to me is a positive economic indicator. what say you? >> yes, i agree. it's a very positive indicator. that's a lot of people to be hiring at home depot. it says what their expectations are for the economy going into the spring and through the summer. that's a lot of people they are hiring. i don't know whether -- what percentage are full-time or part-time or benefits or anything like that. but 80,000 people is a statement that the economy is doing very well and people are in home depot buying. stuart: interesting. jpmorgan chase will not finance private prisons and detention centers. why not? ashley: because they say the benefits don't outweigh the costs. it's a small part of their portfolio, blah, blah, blah. i think that's the official statement. jamie dimon, the head of the bank, has been under a lot of pressure to get out of funding a private prison and detention centers because of the trump immigration policies. in fact, he's had people outside his manhattan apartment
protesting. there was a mariachi band out there saying break up with prisons. the last two general meetings, he's been under attack to get out of funding private prisons. whether that was a factor but it seems to me -- stuart: that's politics. that's not bottom line. that's politics, in my opinion. then we have bank regulators considering moves to limit wall street pay. kristina, i'm sure you are fully in favor of this because of our previous conversation. kristina: you told me not to talk about it. stuart: i will ask shah gilani. what would be the impact of limiting a banker's pay? what impact? >> i think it's ridiculous. to have the government determine in any industry what the pay level should be is ridiculous. it's a free market. a lot of what these guys are paid is because what they deserve. if they bring in the revenue, bring in the business and if they are not paid somewhere, they go somewhere else, maybe to another industry. it makes sense. what doesn't make sense -- excuse me, what makes sense is not limiting their salary but
maybe clawing back when there's criminal activity, things like that. that makes sense. just blanketly limiting pay in any way imposing restrictions on pay, ridiculous. stuart: well said, shah. well said indeed. okay. next story, this is going to kristina. why not. the french government introduced a new tax aimed at big american tech companies. trying to take billions off them now? kristina: yes. it's a 3% tax on tech companies that make more than about $28 million -- stuart: tax of what? kristina: let me confirm that. stuart: total revenue? kristina: should be total growth. stuart: that would be tens of billions of dollars. kristina: they are looking to raise $565 million per year and they are saying the tax is about justice because that's what they're doing. they are following what the uk has done, too. they are looking to raise over $510 million by 2020 from big tech only. stuart: money grabs. money grabs. they can't innovate so they just grab our money. congresswoman alexandria
ocasio-cortez might be backtracking on amazon. her top aides say she's not ruled out appealing to amazon. oh, come back to new york city, we didn't mean it. ashley: too late. she says she wasn't so much upset with amazon the company, she was upset with amazon the way they went about this, not consulting with the community, not holding enough meetings. she said they are going to have a big impact, there will be gentrified areas where rents will go sky-high, people will get evicted. if you only stopped and talked to the people maybe we could have had a really good, positive dialogue. of course, this is backtracking. amazon did hold meetings. stuart: i hope amazon says stick it. we ain't coming back. >> my friends on this network have had a lot of criticism for aoc. i have stuck up for her, i said she's young and dumb. then she did this end zone dance on twitter after amazon decided to leave new york. new yorkers wanted this company here. she was totally in the wrong and i think she knows it. maybe she's doing something to
change here. stuart: what do you say, shah? i think amazon should say get lost, we're not coming back. what say you? >> i would like to see amazon come to new york for the jobs but i also wouldn't mind if they say you made a huge mistake and anybody else who will put politics ahead of standard prominent economic development in any area is foolish. this is not part of her aoc's impetuous crusade, verbal crusade on the things she stands for, wants to advocate for. she's definitely backtracking and it's proof positive she's made a huge mistake. stuart: shah, you are a sharp dresser. don't even think about going to goldman sachs. jeff, same to you. gentlemen, it's time to say good-bye and we do. thanks. the dow industrials, we are ten minutes in, we are up ten points. 25,800. looks like brexit will not happen this month after all. probably not. probably not. ashley: maybe not. stuart: a senior minister now
says a delay is in eevitable. we will talk to nigel farage who is leading the march to leave. days after failing to reach a deal in vietnam, kim jong-un has reportedly ordered the rebuilding of a missile site in north korea. we have got the story. chinese hackers trying to steal important technologies from our universities. our china expert says this theft is not going to stop. here's the question. how can we make a trade deal with beijing if they are still hacking us? we'll be right back.
now we're up one point, 25,800. a north korean missile launch site reportedly built back up again. ash? ashley: it's in the northwest part of the country. this was one that was being dismantled as part of a show, you know, a good effort or sign of good faith by north korea as the talks were going ahead for the first summit but now, satellite shots show that maybe not. it shows that this particular site has been rebuilt, they are putting more roofs on, they are building another silo area. this site tests engines for liquid fueled rockets and conducts satellite launches from there. in other words, i think what it is is north korea is very upset that nothing is being done about the sanctions and i think this is in response to that. remember when they went into meeting with president trump, it was all about the sanctions. trump said whoa, whoa, whoa, we're not going there and i think part of the response to that is this site being rebuilt. stuart: not good news. ashley: not good news.
stuart: nor is this. chinese hackers targeting two dozen universities around the world to steal research about maritime technology being developed for the military. joining us now, the author of the week "bully of asia." what's going on, stephen? they are hacking us while we negotiate a trade deal about not hacking us? what's going on? >> well, they will be hacking us before, during and after we have a trade deal. we will have a trade deal, i think. but look, the maritime information they are after is very important to them because if we do have a conflict in the western pacific as a result of chinese aggression towards taiwan or increasing chinese assertiveness in the south china sea, it's going to be primarily a naval conflict. so that's why they are going to these universities that are involved with naval research like the university of washington. i study oceanography at the university of washington, i was a naval officer with the seventh fleet a long time ago, so i have
been out in theater for many years, and the conflict is going to be in the straits of taiwan. it's going to be in the south china sea and it's going to be primarily one between the u.s. navy and the chinese navy. they want to find out how we operate. stuart: i understand that. i presume that we are hacking into their military and political computing systems. i take it we can do that and we are doing it, aren't we? >> well, i mean, we are not -- nobody -- nobody disputes the fact that we are trying to hack into each other's military systems. the problem with china, of course, is they are hacking into everything. civilian, military, government, private. they are a huge vacuum cleaner, vacuuming up data from all over the world. mostly commercial, i think. most of it's commercial espionage. remember that huawei actually put out a memo to their employees saying that they will get bonuses if they bring back stolen commercial information, and the more important the information, the more valuable
the information, the more the bonus would be. they are paying their employees in china to steal information. stuart: go back to what you said at the start of the interview, which is you do think we will get a trade deal. okay. update me. what kind of trade deal do you think we will get? >> well, i think we will get an agreement to reduce the trade deficit which is growing now rather than shrinking. i think we will sell a lot of energy and soybeans and agricultural products to china. maybe some manufactured goods. there will be a cap on that, of course, because china's economy is tanking as we speak, so they may not be able to keep their commitment to buy $1.2 trillion worth of stuff over the next six years. think about the six-year time frame, too. who will leave office after his second term after six years? the current president. i think they are already looking beyond in that long-term view the chinese always have, beyond donald trump to the next presidency, hoping they can just string out the game as long as he's in office.
stuart: got it. thanks for joining us, sir. always appreciate it. thank you. checking the dow again, look, we have a dead flat market. that's the way it is right now. there you go. we are down nine points on the dow jones industrial average. 25,795. italy, the latest country to enter or propose a basic universal income but it hasn't worked when it's been tried elsewhere. what makes italy think they will be different? we have more on that in our next hour. next, though, janice dean is not here to talk weather. no. she's got a new book out all about looking at the sunny side of life. she's great. she's next. sources say liberty mutual customizes your car insurance, so you only pay for what you need. over to you, logo. ♪ liberty. liberty. liberty. liberty. ♪
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stuart: when a company gives a not so rosy forecast, the stock normally goes down. ross got a not so rosy forecast but the stock is up. believe me, folks, we are on it. we will sort this thing out. our next guest usually tells us about the weather but not today. no. she's on for a very different reason. joining us is the author of "mostly sunny" a new book from fox news senior meteorologist, janice dean.
>> not here to complain about the weather or the groundhog who has been arrested, apparently. do you know that? stuart: the groundhog got it so wrong. >> as long as i'm not an accomplice. but i look good in orange. stuart: you have m.s. >> i do. yes. stuart: i think that your sunny approach to life, your very positive approach to life, that's how you dealt with this. tell me. >> i think it's part of it. but i will tell you when i was diagnosed over ten years ago, i didn't have a sunny outlook. all i saw in my future was perhaps a wheelchair. i thought my boyfriend was going to leave me. i thought my career was over. a lot of people actually told me not to tell my employers that i had multiple sclerosis. they thought it would have been a mark against me. stuart: the day you found out was a day of despair? >> yes, absolutely. they couldn't diagnose me quickly. i had to go through a battery of tests. i had to go through several
neurologists to find the one that i was comfortable with. i document that in the book "mostly sunny." it was a very, very dark time. i really thought my life was over. stuart: so what is it about your condition which you have gotten over by a sunny side approach to life? how did you come to that sunny side approach? >> i think being diagnosed gave me a gift because it made me sort of reassess everything. having a chronic illness really makes you think that every day's a gift and that when you wake up, and i am able to put my feet on the ground and walk, that to me is a gift. i didn't get that -- i only got that through a diagnosis. and the help of some wonderful people. i was introduced -- stuart: i know who you're talking about. >> you know where i'm going down this road. the forecast was sunny when i met neil cavuto. stuart: fox business guy. known him for many, many years. >> been here since the very beginning. stuart: good man. >> he came out with his diagnosis and shared it with
viewers, and wrote about it, and so when i was diagnosed, someone said you need to go right down the hallway and see neil cavuto because he has been dealing with m.s. for many years. and so after feeling sorry for myself for a period of time, i made the phone call, went down to his office. he turned the television off, he brought a chair right up to me, he had kleenex on the table. he let me cry, he let me tell all my fears of what i thought this illness was going to do, and then he looked at me and said you're wrong. you're going to be fine. and you work at a great place. that will support you and help you and i'm here and to me, he was an angel. he was a hero to me that paved the way for me being able to share my diagnosis and in turn, help others know that they're not alone. so you know, he was my sunshine during a very dark period. stuart: janice, i'm going to read the book, especially the bit about neil. >> neil's in it a lot.
stuart: good man. i'll read the book. >> give me a full book report. stuart: i will, i promise. >> will you hold him to it, ashley? ashley: you know it, janice. stuart: "mostly sunny." i like that title, i really do. i love positive people. janice, you're great. >> thank you for having me on your show. i will come on and tell you about the forecast next? stuart: maybe. >> cold. stuart: that's like good morning, vietnam. what's the weather forecast? hot. thanks very much. we are out of time. going to wrap it up. more after this. . . . ♪ hoo!
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stuart: there is a crisis on our southern border and the dem crass open border policy is to blame. they have encouraged migrants and millions are on the move. central america has arrived on our doorstep. clearly it is an emergency. 267,900 people apprehended between october and february and that included 136,000 traveling in families. both numbers are records. most families turn themselves in to border agents and claim asylum. they're taken to government facilities to wait for a court hearing but children can only be held for 20 days. after that the family released into america pending a court hearing. there are 829,000 waiting for a hearing. most will never show up. they're here. a lot more are coming. in fact central america is emptying out. millions of people from
el salvador, guatemala and honduras want to come here. they have been encouraged by democrats, offering sanctuary cities and in california, a sanctuary state. and of course no wall. no, you can't have a wall to keep them out. the head of the customs and bored protection agency says the whole system is quote, is at a breaking point. yes it is a humanitarian crisis but it is not caused by america being mean. it is caused by the irresponsible open border, no wall, abolish i.c.e. policies of the left. this week "the new york times" reported on the rape and abuse of so many female migrants. wouldn't you think all americans would urge them not to come? but no, democrats voted against the president's emergency declaration. speaker pelosi is sticking with her, not a penny for the wall policy just look down the road. you will see the crisis worsening. of course it will. as long as the democrats put out the welcome mat and refuse to stem the flow more and more
people will come. this is what happens when a political party acts in its own narrow interests and abandons the national interest. this crisis is the democrats fault. the second hour of "varney & company" is about to begin. ♪ stuart: still pretty flat this market. okay, we're down 30 points on the dow. that is .1 of 1%. we're at 25,000,700 but look at ge. this is the biggest drag on the s&p at the moment. they were way down yesterday. they're down another 3% today, nearly 4%. they're at $9 a share. why? well, their turnaround is not working out real well. big tech names may be affected today by the french who propose a new tax aimed at our
big tech companies. we have apple and amazon down but facebook and alphabet, microsoft, are all fractionally higher. no big gains there. you have to look at tesla. the stock fell to the lowest level since october yesterday and it is down a bit today, not much, down 80-cents but 275 is the quote on tesla. all right you heard my take, you heard my editorial. we do indeed in my opinion we have got a crisis on the southern border. matt schlapp with us, american conservative union chair. congratulations on cpac, matt. that was a ture today force. a home run. >> thank you, stuart. we're proud of our work. stuart: i think you're in agreement with me, we do have a crisis on the border, don't we? >> no one disagrees with you. even liberals were saying month aswe had a humanitarian crisis on the border. when the two children died, families being separated. they talked about the crisis on the border. you know what happened,
donald trump and secretary nielsen came up with solutions to the crisis, what, what, there is nothing to see here. there is no crisis. stuart: i just can't imagine how this can play out in democrats favor in 2020. we have a full-blown crisis on our hands. it is getting worse. i have to believe politics of immigration, politics of the border wall have shifted and are shifting dramatically in the president's favor, am i going overboard? >> no, i don't think so, but i would urge the president to get out there across the country and from the white house continue to talk about the need to pass his solutions through these emergency powers. there will be a big vote in the senate. we've got to sell this policy. look, it is a one-line bill that will be before the senate that says, says we do have a crisis at the border. if republicans vote against that declaration, stuart, they're basically saying what you said to start the hour is completely false.
stuart: you're right, matt. you're right. i have to talk to you about former new york city mayor michael bloomberg. he has withdrawn. he will not run in 2020. he can't compete in a crowded field. seems to me he is opening the door for joe biden. what do you say? >> i think you're right. the bad news for michael bloomberg he made too much money in the democratic party. they don't like capitalists, people that are successful in the private economy. joe biden is more their speed, he made all of his money the old-fashioned way, the government. that is more comforting to them. he is the old guy who will be more supportive. stuart: sarcasm is a low form of wit. didn't i teach you that already? >> sorry. stuart: seriously. do you think, i don't think biden can survive the primaries if he gets in. i don't think he can. i think the bulk of the party is so far to the left they won't accept him. and i don't think he will ever live down caving after he said that vice president pence was a
decent guy. he caved. you can't have a man in the oval office who caves at the first sign of opposition. >> look, you brought up cpac. one of the things we spent three days talking about the democrats embrace of socialism, new era of aoc. i think for joe biden, that is a tough headwind to get into because most of these democratic challengers will be for the green new deal. they are going to embrace socialism. they will embrace open borders. they will embrace the elimination of i.c.e. they want, younger, new, they want to break ceilings. joe biden, sorry he doesn't check any of those boxes. i think you're right. i think his approach to vice president pence was appalling. by the way we all should have the freedom to live our own individual rights. that includes people who don't want to practice faith and people who do. stuart: matt, you're one-half of the most powerful couple today, matt and mercedes schlapp. we thank you very much for being on the show. >> i'm the junior partner,
stuart. stuart: whatever you say, matt. thank you, sir. all right, now this, goldman sachs announces it is relaxing the dress code for its employees. how about that? suits and ties, you don't have to wear them. john layfield with us, fox news contributor. you were a sharp-dressed guy, but before you went to bermuda. >> me wearing a suit now at my age is like putting mag wheels on a dump truck. this is sign of the times. when i worked on a bank on wall street, corner of water and wall, goldman sachs would do a deal. you would know the deal is done, stonestreet would be packed when they had their headquarters at 85 broad, sharp suits and party that never seemed to end. that is the not case anymore. goldman sachs is still a great company but it is not the company. now you have young guys want to work for bezos, they want to work for zuckerberg. there is some competition for young people that are very intelligent, make a name for
themselves more than just in financials. it is just a sign of the times. stuart: i agree with you, 100%, it is a sign of the times. i know you like two big retailers, walmart and amazon. let's start with walmart. amazon at 1692 right now. walmart at 98. why do you like walmart and do you see it going back above 100 bucks a share? >> i do. i own walmart, i own it sometime when they made the acquisition of jet.com and got the ceo to come on. walmart is exact opposite of amazon. their strength is amazon's weakness. their strength is distribution centers. they have distribution centers all over north america. they are stores but can be distribution centers the way stores are built like warehouses. they need the e-commerce side. amazon is the has the e-commerce side. they don't have the distributions. amazon acquisition about whole foods is as much about distribution centers as it is groceries. the original retailer killer is
walmart. the new killer is amazon. the problem these two are in corporate battles this country hardly ever seen. what is hurt out of this is retailer. what is helped out of this is the consumer. both companies i think profit from this. stuart: you think walmart goes back above 100 and do you think amazon goes back to $2,000 a share? >> i do. they have problems in india with prime minister modi the populist message, they had to take thousands of items off of their e-commerce site because of modi is saying you can't have a stake in what you're selling as far as what is on the e-commerce side. there is some problems in india right now but what they're doing in the middle east, what they're doing in north america, i think amazon is a company to own for the next 20 years. mainly because of bezos. stuart: do you ever wear bermuda shorts? >> i do wear bermuda shorts. it is most comfortable attire in the world. stuart: you wouldn't walk into goldman sachs in bermuda shorts, would you?
>> absolutely not. it is matter of respect to me. i understand the young guys. it is not matter of disrespect to them. it is matter of respect. i would always wear a suit to something like goldman sachs. stuart: you're all right, young man. john layfield, appreciate it. starting today all residents in italy can sign up for a new basic income program. you don't have to do anything. you just have to be there to collect the damn check. we're going to talk to the guy who literally wrote the book on socialism. i want to know the likely outcome of this universal basic income. ashley: how can they afford it? stuart: much more on the migrant crisis. democrat policy squarely to blame. that is my opinion. fox news martha maccallum. she has been to the border, reported from. there i will get her take on what indeed i think is a crisis. one of the states hit hardest by opioid crisis, west virginia. it is attorney general was one of the people to file suit
outfitters. both were down after reporting a negative outlook for same-store sales. now both have turned around. look at that. both are on the up. there is a turnaround for you. italy plans to introduce what is called a universal basic income program, those without jobs or learning $10,000 annually qualify for free money. joining us is the author of "heaven on earth" which is actually a takedown of socialism. joshua, welcome back to the program, good to see you again. this universal basic income is gaining a lot of ground. people are attracted to it. what is the end point here? do you think it works? >> we'll get to see but we know that italy now has one of the highest ratios of government debt-to-gdp and no one has explained how this is going to be paid for. and we also know italians are
famous for their ability to game the system in terms of tax avoidance, things of that kind. suddenly you have the government saying, well we'll take $10 billion a year to give it away to people, or to people who hire people or people who help people look for jobs. it's a big rube goldberg machine. the bottom line we have no idea what the consequences of all this will be except to grow the debt which is already unmanageable there. stuart: but it is attractive to some politicians here. kamala harris, cory booker, bernie sanders voice ad degree of support for this. and aoc, and the green new deal, that is a souped-up version of universal basic income. what do you have to say to them? >> well, we have these, we have an enormous deficit and debt here that has been growing at alarming rate. stuart: i'm going to interrupt you.
>> sure. stuart: to me this is not so much an economic question, what are the economic results of basic income question, it's a moral question. why should money be taken off me and literally given to people, no strings attached? they simply exist, so they get the money? what is the morality of that? >> well i think the key phrase you used, stuart, no strings attached. that is i think we all believe that if this are people who are really in terrible need and who are in a situation where they can't help themselves, where they're too he wouldor too young, too ill, we ought to have ways to support them and to help them but if you take a blanket program and say, we're going to give everybody $10,000 as the italian, who knows what the version here will be, or the green new deal which promised everyone a good income, a job, or income whether they have a job or not, or want a job or not
and we're going to rebuild every house and so on, these kind of things have been tried. they have been tried in tyrannical ways some places. they have been tried in kinder ways other places. kinder is better than tyrannical but it doesn't, it has never worked anywhere. stuart: it is a vote-buying scheme. vote for me, i give you money. come on, it is as sample as that. it is ridiculous. >> that is exactly what it is. politician says, hey, i have a check for you. stuart: who could resist that. $1000 a month, do nothing? great. sir, thanks for joining us. i know you will be coming back. socialism is the theme of the year. >> good to be here, stuart. stuart: well have much more on the basic income scheme in italy coming up. it has been tried before, of course, yes it failed elsewhere. there are lots of lessons for those leftist politicians here
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stuart: general motors ending production at the lordstown plant in ohio today. that is a couple days earlier than expected. the plant made discontinued chevy cruze. no impact on the stock. harley going after the younger riders. bought an electric bike maker, bikes for kids, 3 years old. they're going after the younger rider. ashley: get them young. stuart: harley stock is not responding. down 28 cents. prosecutors in arizona did
not find any evidence to charge uber criminally in that crash that killed a woman early last year. judge andrew napolitano with us right now. uber totally in the clear. >> uber is totally in the clear. bear in mind, it is very difficult to prosecute a corporation criminally because you have to show some corporate policy which was intended to cause the crime or such a high level of indifference to whether or not someone was hurt that that indifference is tantamount to intent. but there was a safety driver in the vehicle, because this was an experimental vehicle. she could still be charged. remember a person died. this is serious investigation. in some states, somebody must go to jail if they caused an accident that resulted in death. arizona is not one of those states. i don't know what they will do with the driver. they're still investigating with the safety driver, they're still investigating her. stuart: was the car itself, the uber car itself on trial?
because there is some kind of fault with it, or fault with the software. >> the uber car was on trial with the knowledge and consent of the local authorities. unfortunately this 49-year-old woman quite law fully was walking her bicycle across the street in a crosswalk when she got killed. so it's a tear jerking case but there doesn't seem to be any liability on uber. i don't think this will affect them financially at all. stuart: we have not worked out the jurisprudence, treatment in court of this self--- >> like when we went from horses and buggies to automobiles. this is "virgin territory." i don't know if the legislatures of each state will be ahead of the courts or if the court the which will get these cases will be ahead of the legislatures. but it's a new, it's a bold new world. stuart: what is wrong with the following sentence, my mother told me to quickly run to the store. >> you split it infin tiff. which i never thought you would
do except for demonstrative purposes. the reason we're laughing about this, he corrected what was in the script a few minutes ago. stuart: what a mortal sin it is. >> they would whack your knuckles. stuart: on ash wednesday. outrage just. >> don't forget your ashes. stuart: i'm not catholic. >> another thing henry viii did away with. stuart: i'm a low anglican. you're in big trouble. i have a big number for you folks. 56% of respondents approve of president trump on the economy. that is an all-time high. we're going to take that on. ocasio-cortez completely dominates the headlines, yes, she does, becoming a political star, dominates the media. i think we might have a little to do with that. we're the media. we'll see what howard kurtz thinks about it. we'll be back. ♪
♪ ♪ i'm the taxman stuart: always relevant. so true. so true. when we play this song i often go along with the words. ashley: yes. stuart: i can't remember them. ashley: he likes the taxman. stuart: i like tom petty's version of this. ashley: the late tom petty. stuart: i'm afraid so. check out the big board. we're down 46 points, 25,700. there is not that much movement. look at the big techs, same story, not that much movement. apple, amazon, facebook, apple, amazon down, facebook up, alphabet down, microsoft up.
you're not looking at a huge move here for any group of stocks. really we're waiting for news on the china trade deal. when that happens you will see some movement. ashley: also have that big jobs report coming up at the end of the week which can speak to the economy as well. stuart: you're right. it is 10:30 eastern time, it is wednesday morning. that is the time when we have the breaking news on oil. how much oil do we have in storage, ash? ashley: we are up 7.07 million barrels. we were supposed to grow by 1.2 million. whoever does these estimates should be fired. 6 million barrels off. more oil in storage which should bring price down theoretically. because opec maintained its cuts, the u.s. shale producers have been cranking it away. there is battle between the two. seems like shale producers are with global demand but they're winning. stuart: i like to see the guys pumping it out there. i like the price coming down.
$55 a barrel for oil as we speak. what else have we got? let's go back to aoc, why not? she continues to be in the spotlight, dominates the headlines totally it seems. howard kurtz, media buzz host. howard, is she a creation of the media? i think she is a political store because she was made into a media star first. what do you say? >> here is the deal on alexandria ocasio-cortez. the mainstream media love to cover her. she is the darling of the left and it has really made her into the face of the democratic party which by the way creates problems for more mainstream democrats. conservative media love her to attack her, jump on every misstep and she made a few. she has talent for attracting media coverage. that made her incredibly prominent in a way that doesn't reflect her power. stuart: hold on a second, howard. you're picking on, i'm a
conservative. >> yes. stuart: i'm the media. >> yes. stuart: i don't pick on her because she is ease to make fun of, i pick on her, highlight her, her ideas make absolutely no sense economically whatsoever. it is my job to point out ridiculous policies. >> yes. i'm all for this kind of debate. she is a self-described democratic socialist. of course she is going to attract a lot of criticism from conservatives in the media. but there also have been others, not you, stuart, make issues, what kind of apartment she is renting, dancing video, all of that. she not unlike a certain occupant of the white house is very good turning around to get more attention for herself. she likes picking fights with journalists. who does that remind you of. she has been a member of congress for two months. she doesn't really have much power. nancy pelosi is not particularly embracing the green new deal or other ideas. if you turn on television, go on the web, you would think she is the leader of the democratic
party. stuart: but she is. no, she dragged the whole party to the left. she coauthored and sponsored the green new deal and a variety of presidential candidates have signed on to it. just yesterday she is proposing a big tax on wall street, bringing in 700 billion in 10 years. that's a huge, new, tax. she has power. she has political power. she has dragged the rest of them to the left. i know you're smiling. go ahead. >> i think you have a point. i think she is not only one who dragged the democratic party to the left. presidential candidates certainly do that as well. but nancy pelosi kind of shrugged when the new green deal came up. i don't think it will get a floor, vote on the floor of the house of representatives. so she has media power which is important power to have. how many other members of congress have most people heard of? at same time in terms of grinding legislation in congress, she doesn't run any
committee, she is not part of the leadership, she is 29 years old. it is actually quite a feat to get as much attention as she does without wielding old-fashioned power. stuart: i will give a lot of credit. she is very good on television. she is really charismatic. and as brit hume said last night, she makes news. she does make news. people like me gravitate to coverage of her because she does make news. >> in fact, one of many reasons she gets so much coverage, people click on her. she is good for ratings. everybody likes covering alexandria ocasio-cortez. i just think the fact she is one of those pushing the party to the left is giving democrats a much more left-wing image than certainly people like nancy pelosi would like. stuart: i think she is a bubble and i think she bursts. that is my opinion. >> spoken like a true stock guy. stuart: well-said. howard kurtz. appreciate it. see you soon.
let's get to the economy. look at this, a poll from gallop, 56% of americans approve of president trump's handling of the economy. that is all time economic approval rating. our next guest says it is justified. says job, investment, economy all booming. economist brian demitrovich is with us. i takes your point. if all the things are booming, jobs, et cetera, they're booming, how come growth went from here in the third quarter, down to here in the fourth quarter and down to here in the first quarter of this year? if all things are booming, why this slowdown? >> stuart, i am a little bit worried about that. i think we should be growing a little faster. we are clearly over 3%. i think the leftist democrats in congress, especially ones running for markets, trying to
spook markets, spook the environment, so donald trump doesn't have a great record to run on in 2020. i don't think it will work. that is what that 56% approval rating means. stuart: will we get a bounceback after this first quarter? we have all kinds of estimates the first three months of the year will maybe grow at less than 1%. if we are bouncing back to 3% for the year as larry kudlow said on this program, we'll have an enormous growth rate in the second quarter, third and fourth quarters. where is that growth coming from? >> yeah i think we should expect that. we'll have a low first quarter simply because we had a government shutdown. that means automatically we'll have a big boom in the second quarter because these things are measured quarter by quarter. you have a low denominator in the first quarter. labor force participation rate is very low in the united states. we talk about the jobs boom. so many people are sidelined in the obama economy and great recession that we can grow big time into a recovery at higher rates above 3.1% which we
achieved in calendar 2018. stuart: you want to give us forecast for friday? because that is the big jobs day. find out how many new jobs were created. what the unemployment rate is. how many new jobs do you think were created last month? >> i would assume over 200,000 once again and i expect, you know, i expect those rates to be very good for the future until we get lable are bore force participation back to where it was in the 1990s. stuart: we can pull people out of retirement, off the sidelines, pull them in with higher wages and a job? do you think that will happen throughout the year? >> it is 30, 40, 50-year-old people not in the labor force like they were under ronald reagan and bill clinton. those are the, silent majority of people who have been jobless, not even included in the unemployment rate. we could see the unemployment rate go up as we have increasing jobs because people are saying hey, we can work in this economy again. stuart: just as long as we get
the new jobs. brian, great to see you sir. see you again real soon. north korea walked away from the summit with president trump. apparently they were unhappy. what are they doing? ashley: apparently they're restoring a missile site they previously claimed to be dismantling as part of a good show of faith to the united states. satellite shots in february and just in the last couple of days show that this site, the tong chang ri sight in north korea is being rebuilt. a major building rebuilt. they put two new roofs on building. this site tested engines for liquid fuel rockets and conducted satellite launches. there you go. north koreans upset nothing done about the sanctions on them. this could be a bad signal. not a good sign. stuart: going backwards. ashley: yep. stuart: thank you, ash. now this, a brexit delay? one minister says a delay is inevitable. we'll see about that but
mr. brexit, nigel farage is with us on this program today. i'm going to talk to him in our next hour. here is the question, where on earth are we going with this thing? what about his march to leave? i want to talk to him about that. that could be a big deal. back to the crisis on our border, i say it is getting worse. as long as democrats put out the welcome mat refuse to stem the flow more and more people will come. that is a real problem. we'll tackle it in a moment. ♪ your daily dashboard from fidelity. a visual snapshot of your investments. key portfolio events. all in one place. because when it's decision time... you need decision tech. only from fidelity. i'm begging you... take gas-x.ed beneath the duvet your tossing and turning isn't restlessness, it's gas!
♪ ashley: republican new york congressman lee zeldin says the delay on a vote condemning anti-semitism shows that nancy pelosi has lost control of the democrats. roll tape. >> unfortunately what's happening with three of these freshmen democrats in particular, aoc, alexandria ocasio-cortez, rashida tlaib, and congresswoman omar herself, they and their supporters are rallying the far left of the democratic party and what's really concerning here is that the far left of the democratic party pushing the anti-semitic trope, the probds, anti-israel statements and policy as well, growing into larger and larger segment of the democratic party.
hit with multiple lawsuits. west virginia attorney general patrick morrissey joins us now. sir, your state sued purdue, you're one of the agencies that sued purdue. let me go real fast. i can understand what they did wrong, i want to know what happens to those people who really do need those drugs? >> sure. stuart: they're in severe pain. you might be taking those drugs off the market. >> well i think one of the things we try to do in west virginia when we first hold people accountable for the laws in our state and we pursue these allegations vigorously because you have to right the wrongs that have occurred over a long period of time but in terms of insuring that people get access to drugs, that is obviously critically important. one thing we've done in addition to the litigation, we've taken a holistic approach going after the drug problem, that means putting best practices in place so the people that actually need the drugs, still get access to the drugs but you're
dramatically cuttings down on the opiates that are used because we think there was far too much product in the marketplace. that is one of the reasons why we not only pursued investigations and lawsuits but we actually sued the dea which had approved a tremendous amount of products to be manufactured and distributed. we helped cause a lot of change there but there are still far too many people taking opioids who would benefit who would ben fit from non-opiate alternatives. the class of people that need opiates should get them if they need them. stuart: will west virginia, which suffered mightily in the opioid crisis, i understand that will west virginia actually get any money out of purdue in and when they go bankrupt? >> i can't speculate right now on different matters that may be pending but i can tell you this, it is always the goal of the west virginia attorney's general office to insure there is accountability. we're very aggressive. we followed up in other
situations where companies tried to use bankruptcy tools because at the end, my job is to make west virginia citizens whole and this is really a important area. we've been aggressive as any in the country on all these issues and we're going to make sure our citizens benefit to the greatest extent possible and, stuart, i say for this reason, when you tackle this problem it is not only important to have enforcement and education and treatment. people are looking at some of the settlement monies to fund the important treatment programs to those that need it most. stuart: is there any sign west virginia has a handle on this opioid crisis and the crisis is in retreat in west virginia? thinking of overdose deaths, for example, are they beginning to trend down? >> we're beginning to see prescription numbers for so-called legal pills come way down in part due to a lot of litigation and the work our office has done. our lawsuit with the dea. our work to make sure people
understood that the dea and all parts of the channel were responsible. so number of pills prescribed, these opiate pills, way, way down since i took office but we still have real problems with these illicit pills, the fentanyl, heroin, the meth. there needs to be more work done, more enforcement, more prevention, slash education, more treatment to make progress. we're making progress. a lot more work needs to be done. stuart: before we close, sir, can you give me an idea how serious the opioid crisis is in west virginia? number of overdose deaths, just give me an idea. >> absolutely. this is the biggest challenge we face in the state, that is why we're so aggressive going after it. some statistics frightening to people, most recently we heard west virginia had the highest overdose drug death rate. 52 1/2 people diaper 100,000 in
the state. those are astronomical numbers. we do work every day to prevent that from happening. remember there are other legal tools. we don't control the criminal prosecutions. we need to make sure we're partnering up with them. we make more progress on those issues. stuart: got to get a handle on it. mr. attorney general, thank you very much for joining us. >> thank you so much. stuart: yes, sir. more on the crisis at the border. 76,000 migrants crossed into this country, they were apprehended, 76,000 aprao hended last month loan. that was february a short month, for heavens sake. martha maccallum has toured border. she will join us next. downside move seems to be arrested. we're down 1/3 of a point. we'll be back. ♪
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1%. not a huge move. crisis is on the southern border, yes there is a crisis. a record 76,000 migrants apprehended to cross the border in one month. that is february. that is record number, certainly in recent years. martha maccallum is with us, host of "the story" with martha maccallum. you've been to the border. you've reported from there. my premise there is really a crisis. it is an emergency. tell me? >> it's a mess, is what it is. i don't really see this as a partisan issue. i don't know how anyone can think it is going well, okay. you have enormous increase in people coming across the border. they expect it could be 100,000 people in march. it is up 39% year-over-year and you have, a terrible situation, even at the ports of entry. last night i interviewed one of the chiefs of dea who did the bust in new york and new jersey where they got millions and millions of dollars worth of fentanyl. how is it coming through?
through the ports of entry. the trucks come through. they push 25 trucks through they figure they caught on three or four. they figure the numbers are pretty good. it is extraordinary. no matter where you look on the border, it is not working. it needs to be fixed. you're jeopardizing all the people's safety. the best talking point that people have who disagree with the notion, that the numbers have dropped. the numbers have not dropped. they increased for central america. they are have gone down from mexico but way up for the other three countries. stuart: we're in the year of mass migration, the people of el salvador honduras, impot maul la, they are prepared to live here by the millions. the democrats position is untenable. you have to have a method them stopping them coming in, dealing with them here. we don't have it. >> it is unkind. it is a humanitarian disaster in terms of the way people are crossing the border right now. they are taking their lives in danger. talk to people on the border who talked about finding skeletons
years later in the desert at their property, okay? so people are getting injured. they are paying $6,000 a head, kirstjen nielsen said to coyotes to bring them across the border. once they get there, they're dumped off somewhere. who knows what happens. now families are coming across because they know that the is the best way to go. your kid, any kid you can grab can help you get across the board. that is not a tenable situation. stuart: you have a child with you. you walk up to the border. you say i claim asylum. you're put in camp, detention facility. but can only keep a child in detention facility for 20 days. after that the whole family is released, pending a court hearing. >> they're saying the facility is the will overflow. they have to return to catch-and-release which the president doesn't want to do. stuart: it's a crisis. that is what we've got. untenable democrat position. but that is my position. not yours. you're a journalist. i'm an opinion guy. >> we love hearing your
opinions. stuart: nice to see you, martha. >> thank you, stuart. stuart: now this, italy trying a universal basic income program, free money. you don't have to do anything. just show up to get the check. it has not worked out well before. i don't think it will work out very he will here. even though some leftists are going to try it. ashley: of course. stuart: my take on that next. ♪ what do you look for when you trade? i want free access to research. yep, td ameritrade's got that. free access to every platform. yeah, that too. i don't want any trade minimums. yeah, i totally agree, they don't have any of those. i want to know what i'm paying upfront. yes, absolutely. do you just say yes to everything? hm. well i say no to kale. mm. yeah, they say if you blanch it it's better, but that seems like a lot of work. no hidden fees. no platform fees. no trade minimums. and yes, it's all at one low price. td ameritrade. ♪
stuart: are going to try it again. free money. you don't have to do anything. just be there to take the check. italy is giving it a go. wonderful. the government proposes $1000 a month to single people appeared more to families that they've lived in the country for 10 years. the deputy prime minister says, quote, we in a decisive manner with this budget law will have abolished poverty. now i don't want to delve into italian politics, but i think that it's a stretch to say the least. it's also a warning to politicians here. free money sounds good and may bring in a few vows, but the history of these universal basic income programs is a sorry tale of failure. watch out corey booker, both our presidential candidates. both have supported free money
programs. bernie sanders is worn to the idea and alexandria ocasio-cortez has an elaborate version of it in her green new deal. okay, it was tried in finland. 2000 unemployed finns got 700 bucks a month. very few went looking for a job. the program lasted just two years. ontario canada tried it last year but gave up a few months then. they said it was, quote, quite expensive and certainly not sustainable. you probably didn't notice that he was tried in america between 1968 and 1980. the feds using the tax system. the goal was to incentivize work. doesn't it seem like a contradiction? while it lasted, working hours for single men fell and they stayed unemployed longer. is that what you would expect if you pay people to stay at home? from here to the 2020 election will spend a lot of time debunking the wild socialist
schemes that the left is pushing. universal basic income is a wild socialist yang. it doesn't eradicate poverty. it certainly doesn't incentivize work. viciously though biting game that demoralizes the recipient and bring crops the country. the third hour of "varney & company" is about to begin. ♪ i've got to tell you in 15 minutes nigel will be with us. if i talk italy and brexit which looks like it's going to be delayed. nigel called that on this program a couple weeks ago. he's on the show today. checked the big board. let's bring in heather zumarraga. i know, i read your stuff religiously in your very positive on the market and you think were going to go up from
here. make your case. >> ideal. stocks have had a monster rally thus far in the house. but the point is the federal reserve interest rates are going to remain lower for longer and i am up to mystic at a chinese trade deal will get done. and that's what's important to the market. the chinese trade deal the fed right now. tranter doesn't matter what kind of china trade deal he could as long as they get a handshake and smile and teal. tree into it matter over the long run that but regardless of how good the underlying deal is, the fact that we are negotiating with china and pushing back on structural issues like intellectual property and joint ventures, forster adventures is a positive sign a step in the right direction. stuart: i do want to get your opinion on goldman sachs. this kind of loosen their ties so to speak. >> you would never do that.
you don't have to wear a suit and tie. i think they're going after the millennial spear the millennial spirit of think it's a sign of the times. >> yes, they are going after the millennial spirit this is a bad idea. this is a really bad idea. 75% of goldman sachs employees are millennial and i guess that's coming from a microphone i'm not sure. stuart: go ahead, go ahead and >> 75% millennial star employees at goldman sachs. unless they want to wear pajamas to work. i don't know if you've recently seen the wealthy that they're wearing these inexpensive tracksuit. retail luxury like gucci and her side she had really extensive tracksuit that people wear out. it's goldman sachs. it's supposed to be the staple and consumer financials and investment tanking.
how we should dress. i think it does matter. turning tail i'm going to get to that. ashley: your bunny slippers are very fetching. but listen, as long as you don't dress down when you're meeting clients come if you're just in the office doing your work i don't think there's a problem with it. there's a limit. no flip-flops but cashel is okay. stuart: by the way, we have a poll on twitter. would you still watch this program if i wore a t-shirt on the air? we'll look at the results at the end of the show. you've got 30 minutes to vote. heather, last one for you. bank regulators are trying to talk about putting up a limit on wall street executives. i don't want to see any government from any government agency try and tell an industry how much executives can be paid. what say you.
like exactly. you never want government to get involved. dodd-frank in 2010 house rules but there's been one of them because president obama's administration had so much pushback from the financial industry that there was no way it was going to be implemented. now congress is revisiting these rules. this is not a good idea. i'm not in favor of limiting pay but there do need to be repercussions and consequences to for examples he, goldman has an investigation only share what wells fargo did with fraudulent signatures and setting up accounts. there needs to be some repercussions and consequences in terms of clawback that ceo pay. i don't think government regulators are the most effective way to handle it versus the board and the shareholders. stuart: heather, you're all right. thank you for joining us.
don't forget there is a poll on twitter right now. would you watch the show if i wore a t-shirt. you've got a half hour left to do this thing. would you be on the show if i was in a t-shirt? liz: no. just kidding. i don't care. what are -- wear whatever you want. stuart: i would never do that. liz: i wouldn't either. trent i've been on tv for a daily basis for 43 years i was at the tie on. i don't believe i've ever gone on tv without a tie. transfer to sign of respect. stuart: ratings. ashley: it's all about the ties. a couple corporate stories. i think this is a very important story. whole foods on my amazon looking to break into the marijuana business. their ceo says there's a good chance, quote from ubc and marijuana on store shelves on to legalize. john mackey,.
they are saying they would not just be the oil. it would be the thc which get too stoned. trent for you wonder if it's going to be at the cash register as an impulse buy. three intuit whole food starts talking about marijuana shelves, and that's a big deal. they're owned by amazon which delivers stuff. is that the question? i don't think i'd survive. we showed you a picture there. that is a kids bike. it's an elect your kids bike and harley davidson has just bought the company that makes those kids bikes. they're trying to get new writers then, the women very young. stay sick. that the name of that. either way, they've also announced their own electrified the livewire later this year. no impacts on the stock
whatsoever. i've got a lot of space e-mail. in the first hour of the show i talk to our viewers about my granddaughter in new zealand. rides around in a hype by word petrol motorbike running up to cattle. i'm jumping all over the place here. i do apologize to my producers. let's put the picture up again about brexit. it looks like brexit won't happen this month. a senior minister now says the delay is inevitable. nigel farage did call on did call her miss program two weeks ago and is coming on the show next. remember, his also be deemed as march to lead, which could be a very big thing in britain. we're also going to get into italy's basic program. we've looked at the history. it does not look good. however border crisis. you have two. i grant has doubled from a year
stuart: i'm going to get into that news from italy because starting today they're going to roll out their new universal basic income is game. i call it free money. amy kellogg joins us now. she's in italy. about the details. what can you tell us about this new program? >> stuart, this is a campaign promise made by one half of the coalition government here and critics say it basically announces a concern since it is a government handout that it's going to be abused. people who are in favor of it say this is an important move to try to deal with income inequality here in joblessness. 10% unemployment rate and that's many times how your mom youth population car poverty has spent creeping up. basically what this does is guarantee that everyone will
have $882 a month. i do a small income up to matter whether you get that money directly and totally depends on your situation. you can't have asked that any real estate. the money is loaded onto a chair yellow car once a month and if you don't use it in don't use it in a month it dries out because the point is they want the money being pumped into the economy and not be imported. you can be on the program for eight teen months but you are offered jobs bya, quote, navigator and if you reject three of the offers sound for you than you are out and booted off the program. at maximum you can be honest 36 months. there's concern about fraud. their illicit income. there is the threat of jail time if you are caught defrauding the
schemes. stuart: in a collar that's a lot of detail. thank you indeed. come on in, nigel farage, vice chair of britain's lead means for you. first of all, would you think of this, i'm going to call it a free money universal basic income scheme in italy. what your opinion? >> is called helicopter money. money drops from the sky, lands in your pocket and became this economic theory kicked in and everyone's better off because of the multiplier effect of the economy. that is the theory. the practice of it of course is there is no such thing as free money. all this does is add to national debt. the real answer for italy of course is not helicopter money. it's getting a currency devaluation, deregulating and making real growth in real wages. it will not work. it will just make poor and
mission ultimately even poorer. trent did you make far too much sense. a senior member of parliament in britain and spain if they brexit delay is inevitable. no feasible way they can march out of europe on the deadline. you called this two weeks ago. roll that tape of you calling it. go. you leave in march the 29th. >> if you want my honest opinion, against my book, no. it's so awful. i can't see the european union giving an inch of ground on what's being negotiated already and i believe they can look kicked down the road. that's when you see within the british conservatives. stuart: where do we go now if it's delayed? where do we go? >> this deal is so awful.
we are leaving one bad european treaty for another bad european treaty when arguably it's worse than we're currently in. there were three options. one is we accept a deal, we delay. the third is the exit and we are out. we are free. we are clear. even if there were some bumps in the road. i hope parliament in westminster vote against this deal. i promise you when this comes to the european parliament but the final vote i'd bet against it and i hope by calling their bluff we end up leaving on wto. if we doubt i've nothing to say more than i fear. what she has done in the name of brexit is put together the worst deal in history. something we couldn't even get out of. for me now, resisting in this deal is worse than the risk.
stuart: i've got 30 seconds left. tommy about the march you're talking about. >> we are leaving on the 16th of march. we will be in parliament square on march the 29th it me or is that macros the general march which came. a celebration march because we're leaving or it will be a great brexit betrayal march. either we have got my walking boots. stuart: can you get a million people? >> was to see how it takes off. i promise you, brexit delayed with specs brexit betrayed. they're not doing it here for marching. stuart: nigel for roche on the march. thank you. listen to this. michigan's governor gretchen witmer wants to raise the gas tax by another 45 cents a
gallon. that is on top of the existing as of 26 cents a gallon and now fremont dates. we will tell you all about it. amazing, isn't it. aston martin as a concept image of a new electric suv. it will be completely autonomous. we will tell you when they plan to release this thing. politics, money and fast cars. ♪
stuart: seems like they've been giving wall-to-wall coverage of the geneva car show. check this one out. the concept car called the look on. the car will be completely autonomous. it will drive on its own so you can spin around in your driver she with their passengers. expect good 2022. what about us domains. a canadian couple set the world record for the largest now. 30,000 square feet. tens of thousands of dollars to truck in the extra snow.
average time to get out of it? 30 to 45 minutes. on your screen now, the world's first lunar salty by a spacecraft is the size of a washing machine. the little flag on it says -- the people of israel live. the craft is set to land on the surface in april. could be the first privately funded project to land there. san francisco rent has just hit a new high. you won't believe how much a one-bedroom goes for. of course will tell you. in fort lauderdale, florida, 41% of home buyers are paying in full cash. what's with that? we'll be back. ♪
i think i found my dream car. it turns out they want me to start next month. she can stay with you to finish her senior year? of course she can! [ laughter ] [ groaning ] hey! want to drive? really? [ engine revs ] do you think we can do this, rob? things will be tight, but we can make this work. that's great. ♪ [ laughing ] okay... here we go. now... [ gasps ] wait... grandpa, what about your dream car? this is my dream now.
adds up to a lot of money. check general electric. their new ceo announced yesterday that the cash flow in 2019 will be negative. the turnaround story not going well. down yesterday another 6% right now. nine dollars a share. home depot on a hiring terror in the spring bringing on a 280,000 seasonal workers here that is 20% of their current workforce are the workers will be spread among 2000 stores, 100 distribution centers nationwide. it is a signal of the economy. check jpmorgan. they've announced that they'll be cutting ties with the private prison industry. they will not be financing them anymore. facing protests over this because of the president's immigration and detention policies. now this. new jobs numbers out on friday. chief economist at wilmington. how many jobs are we going to
report having been created on friday morning for february. what's the jobs number on friday loop? >> where expect dean to see about 200,000 jobs added, which is a strong number. it will be a noticeable deceleration from last month, which was 300,000 which frankly is not really sustainable. if we come in around 200,000, that's a really encouraging number to your point about home depot, an indication that firms are seeing a lot of spending and also an indication that the prospects for the future. there's been a lot of data a little bit on the weaker side that has caused some angst and market. the best single indicator you have about the economy is whether firms are hiring or not. worse expecting the strong number on friday morning. stuart: i want to ditch her opinion on goldman sachs. as you know they've relaxed their employee dress code.
you don't have to wear a suit and tie. they're trying to appeal to millennial and they want them to work there. what you say about it? >> i don't have strong opinions about it. something we've seen. our company moved to a more relaxed dress code just last week around the same time as goldman. i have to say it doesn't affect me very much. this is about as casual as i get. >> and i wear makeup on the weekend. i am intrigued because the millennial are the largest demographic group in our society at the moment. over 70 million of them. you've got to move with the times to adjust your company and its image to these youngsters because they've made a huge impact on the world already. i think it will make a difference to goldman and i think it's a good move. what do you say?
>> it's an indicator of what firms are struggling with what the unemployment rate the lowest it's been on a sustained basis since the late 1950s. firms are really struggling to attract people. more job openings now. more than 7 million at an all-time high than unemployed people. firms are really struggling to attract workers and they need to hit those millennial spirit of course there are millions of millennial's much larger than my generation and firms are going to have to appeal to them in some way. the acceleration in job growth, overall job growth we've had over the past year to year and a half has been enabled by increased participation in the lower cohort. moving into the labor force. if you want to major labor demand they need to appeal to those people in some ways. stuart: luke tilly, thank you for joining us. by the way, and we have a poll on twitter. the question, would you still watch this program if i were a
t-shirt on the air? we will reveal the votes before the end of the day. we are closing the show in about five minutes. if you watched the program come you know we love a good tax exodus story. let's bring in somebody who deals with ex-pats on a daily basis. the bianchi real estate in fort lauderdale, florida. we told her audience you do business in fort lauderdale and you found 41% of the home buyers in fort lauderdale pay in cash. that's a little unusual. have you lain it? >> it's absolutely nuts because that is almost double the national average which is 23%. how do i explain it? just like you said, new yorkers are moving here. i have about 50% of clients as new yorkers.
you also have people from california. i have clients from washington state. let's not also forget foreign buyers. loving south florida specifically broward. who makes up the largest percentage of foreign buyers? canadians at 20% to 22%. they prefer not miami-dade, not palm beach county, but here in broward county specifically fort lauderdale. stuart: i think you're going to get a lot more new jersey people coming down there. the governor of the garden state has just proposed -- not impose to that proposed a 10% tax on incomes over $1 million. a lot of people are going to get hit with that. look at a flood of these tax refugees. >> i'm excited about it. there's a reason why so many realtors in south florida are going. i'm in new york once a month. i'm going there. promoting our real estate in getting property sold.
i literally get 10 calls a week from people in the northeast just wanting to learn more about real estate down here. it just makes sense that not obviously taxes better price point as well. luxury condos come in the sales of luxury condos has gone up by 5% from january year-over-year. single-family homes decreased by 4% year-over-year from january but that doesn't mean things are slowing down. that just means there is better deals here. so here is the place to be. okay, okay, samantha. i woke up this morning and it was fit teen degrees and i know how attract to florida can be. >> "varney & company" does miami. >> higher the food chain. samantha, thanks for joining us. appreciate it.
i'm going to stay on real estate. san francisco got astronomically higher risks. they've hit a new high. the median price for a one-bedroom apartment $3690 per month. that is passmore, half less. the most expensive in the country. almost double what you would pay in miami by the way. speaking of skyhigh rents, we told you about oregon instituting a rent cap on apartments. other states now want to follow suit. new york and illinois very high tax states have also proposed capping rental prices. cities like l.a., philadelphia also considering a rental cat. rent control run amok. another big tax rate. the governor of michigan, democrat wants a new tax on gas. a whopping 45 cents per gallon extra. and she's not alone.
he's a republican. he's calling for an 18-cent increase in minnesota's governor tim maltz wants another 20 cents taxed onto the price price at the pump. wisconsin governor he wants one as well. how is that going to fly? liz: it isn't flying. the truckers are saying this is going to add hundreds of thousands of dollars annually. you know what the truckers are doing? they are fueling up elsewhere without these gas tax increases. the governor of minnesota sagging we will take the sting of our new increase on gas taxes by building bicycle trails in minnesota. stuart: you're going to ride a bike in minnesota in february? do you have a death wish? you're killing me. but she won't be going there anytime soon. we are not done with minnesota.
he wants the state to become carbon free by 2050. obvious question. who's going to pay for that? in new jersey, governor phil murphy wants to raise the income tax on those making more than a million dollars a year to help pay for expanding preschool in making higher education more affordable. meanwhile, crisis on the border. guess it's fair. more than 76,000 migrants apprehended last month alone. 76,000. don't tell me it's not a crisis. the senate set to reverse the president's national emergency. they got the vote. what is going to happen here? we are talking to senator john hogan asked. ♪ ♪
demand for oil is going down so they're using it as an indicator of the slowing economy. >> we still have a good job number. >> over the average. i think we're really waiting for a significant move when we get some news on the china trade deal. transfer absolutely 100%. train to now are down 94. back in a moment.
stuart: here we go again. in other attacks in the state of new jersey. new jersey. this time the millionaire's tax proposed by filmer he. anybody making over a million dollars a year to pay more tax, specifically in over 10% rate tacked onto all the other income taxes you have to pay. governor murphy says the extra dough will go towards making a more affordable. that's not true. in the extra money they get will go towards retired government workers and that is a fact. >> new jersey ranks below illinois. they're out of control with their spending. stuart: it is well known that it just won't happen. more people will be calling the moving companies. stuart: thank you, actually. we talked about governor tim maltz to raise the gas tax. he also wants the state to
become carbon free by 2050. critics say the governor's plan is very expensive and has too many loose ends. the crisis on the border and it is a crisis. the reversal over the president's national emergency declaration. sources are saying it will be reversed. i want to bring in senator john hogan of north dakota. senator, i can't believe republicans will say there is no crisis on the border. we don't need the emergency. but that's what's going to happen. >> there is an emergency on the border and we need to address it. you need technology and people and we actually need to change our laws, to then make sure we don't have sanctuary cities and that we do have the ability to make sure someone is properly adjudicated as they need asylum here in the u.k. soviet.
stuart: why would any republicans say there is no crisis on the border, we don't need the emergency declaration. why would any republicans say that? >> well, some of them are looking at the checks and balances aspect. i believe it's an emergency, that we need to address it in the 76 law allows it along with 82 provisions regarding the military construction and the checks and balances argument needs to be addressed through changing the law. i think this statute does provide and certainly that is the case were talking about. stuart: this crisis is getting worse. >> 75,000 just last month. for people to talk about the numbers, which you have to look at is how much it's going on in
terms of illegal crossings. stuart: 829,000 people in this country in here illegally and are supposed to go back for a court hearing and they won't go back. 829,000 here. >> under the law were not allowed to detain them for more than 20 days. you have a case where they're released into the larger society and then they don't come back. these things have to be addressed. stuart: any politician who says there is no emergency and there is no crisis should be held politically accountable. do agree with that? >> we need border security as i said. part of national security is making sure we cover borders and when you take the steps to do it. stuart: senator, thank you for being with us. we've got to get this crisis fixed. >> we do. we need to address it.
let me show you a gallop poll. great numbers for president trump. 56% approve of his handling of the economy. at the highest approval level on the economy during his feet. >> it attracts equally 54% with the handling of job creation. it's in tandem with how he's been on creating jobs. president trump hosting a big event at the white house later on today all about the american workforce. some of the biggest names in the men's will be there. we are going to show you who is going to show up in just a moment. i wanted more from my copd medicine... ...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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mr. trump is meeting with his american workforce policy advisory board this afternoon. blake herman. who is going to be there? >> i am here. there's going to be a handful of ceos on this american workforce policy advisory board. this is their first meeting from all walks of life that the hive mind would agree the apple ceo tim cook will be joined i ceo of
the lockheed martin vsat home depot. the purpose of this group gathering together they're going to try to promote workforce initiative like a better data transparency. if you're looking a search for a new job you want to have the best data available to search for that job. it was like modernizing candidate recruitment. they want to promote the idea you don't necessarily need to go to a four-year university to come out with a good well-paying job. this is an initiative of ivanka trump the president himself will be dropping in on this meeting as well. stuart: i bet he'll be talking to apple about making computers and ipads in america. blake burman. i got it. congresswoman alexandria ocasio-cortez changing her tune on amazon now a defunct new york city-based hq to appear chief of staff says she just wanted more community involvement on the part of amazon.
stuart: earlier this the show we were talking about goldman sachs relaxing its dress code. i asked viewers would you watch the show if i wore a t-shirt on the air? my producers made up a twitter poll. 41% said absolutely i would watch. 18% said, no way. oh dear. 41% asked if i even own ad t-shirt. i have thousand -- dozens of t-shirts because people give me t-shirts all the time with slogans and logos. ashley: have you ever worn them? do you do yard work on your tractor? stuart: all of my t-shirts have a slit in the back, when i'm stabbed it doesn't mess up the t-shirt. you know, so do my suits. liz: are you joking? stuart: i thought it was funny. laugh with me here.
ashley: steve hilton likes to wear a regular jacket and t-shirt underneath. it works for him, why not you? stuart: that's right. that's right. i'm not going to do it of course. you wouldn't want me to. liz: no i wouldn't. stuart: you wouldn't want me to. ashley: stay classy as ron burgundy would say. stay classy. stuart: he would never appear in t-shirt. we had our fun. look at this, the market, i regret to say we headed south. we were down 150. now we're down 130. we look for a reason. ashley: we're constantly being told by analysts there is pressure out there for people to cash in right now. this market has come so far, very well in 2019. after all the dire forecasts after december. we wait, we get little snippets of trade talks with china. we don't really have detail. people are starting to take some money out. take profits. liz: think something like
goldfish memories. they're saying we're in profit recession, right? the comparison is because of the tax cuts from last year, right? the tax cuts really helped boost profits at companies nationwide and so, you can't really dot comparison adequately. stuart: it is false comparison. it is apples and oranges. liz: that's right. profit margins are hitting record highs for s&p 500. stuart: the market is really waiting for a signal on the china trade talks. ashley: they want details. stuart: want details. not just gossip, we'll get a deal, we'll not get a deal. they want to see details. ashley: jobs report at end of the week could be interesting f it is strong, the market will take that on board. if it shows wages suddenly spiking that will cause some concern. stuart: here is my opinion if there is a trade deal announced it won't matter what the trade deal is. in the short term the market goes up. if there is no trade deal, i don't care, you know what the details are, why they broke it up, the market goes down.
ashley: shake hands an smile. stuart: see the handshake, smile, beaming smiles, kumbayah is sung in china, then you know you're okay. time's up. david asman in for neil. it is yours. >> i'm surprised you were in favor of wet tax in new jersey. i rather hear you talk about that than t-shirts david: i'm david asman in for neil cavuto this is cavuto "coast to coast." in the past ten minutes the dow slipped significantly, now triple