Financial times, disheartening. One in five americans are receiving government assistance and now president obama saying lets give out solar panels to the poor just what we need to gre the economy. We havent forgotten about hillary giving the first interview since announcing her campaign. And she blames republicans for everything. Poor hillary there. Varney company is about to begin. All right. Guys, weve got a ton of news for you this morning and we have now breaking news all United Airlines flights are grounded, they say its due to a Technical Glitch. All flights, all airports are grounded, a big problem for travelers. We have a live look at Ohare Airport and thats on your screen now. Thats the giant united hub. If you have to go through there. The big story now liz the big story, there has to be something more to it than to be causing all the flights to be canceled. Charles this is worrisome because a lot of people are worried about Computer Systems worldwide particularly involving airlines. True theres been cabin pressure, no pun intended on t the flyhigh flying stocks no pun intended, and well watch those. Charles weve got it up there, premarket, and showing down at least a dollar. The crash in oil prices should have helped the stocks. I was waiting for one more no pun intended because that would have broke the record. [laughter] its not j us inconvenience, but we dont know whats going on. Well drill deeper. Theyre saying its a Technical Glitch and the street doesnt like it. And the board doesnt like news from around the world, equity futures are pulling back. At one point we were down 200, before the open rallies back to less than a triple digit loss and now were opening under a tremendous amount of pressure. A moment ago i talked about oil. And yesterday the market had a rally and oil off the canvass, relatively unchanged, it could go either way. The implosion trade, what you bought, heart Precious Metals when the world goes to hell in a hand basket. Gold looking higher because the world is on the cusp. On the other end of that is copper, everyone is talking about copper because this might be the real proxy. At a sixyear low, but a lot of that involves a Global Economic slowdown, is it overdone or is copper the canary in a coal mine . Lets bring in harry dent the author of the demographic. Youve been predicting a rolling crash that will last more than a year. Have we begun it . We have in china we may have one morally at the United States im looking at stocks and they may seem oversold and may have shortterm resolution in greece. In the u. S. Fracking a trillion dollar industry and theres debt that will have to default and puerto rico is coming. The big thing, youre right, saying recently that the china bubble is bursting. Weve been saying this is the biggest bubble in the world. Real estate started to slow and everyday people poured in on margin debt into chinese stock and they went up 160 in one year and in a declining economy, now the government is having to prop up the market with buying artificial buying and telling Pension Funds they cant sell stocks they can only buy them. This is desperate. So, i think this is the biggest sign, the china market is down over 30 . Ive been looking for that. A sign that the top is there. We have to get to the point where if something happens to the u. S. We put in a top and already say a 30plus percent decline and the u. S. Did the same thing in 1929 tried to prop up the market and it didnt work. What is it . A series of events or well be able to point to one cataclysmic event. Your illustration were sitting on a powder keg. Whats the thing that sparks this and doesnt get on a downward slide that doesnt reverse . I think its the china bubble. Theyre losing control over that. Interest rates, longterm rates are headed up another sign we have been looking for. When Central Banks keep stimulating and quantitytative easing and longterm rates go up anyway. The only thing they can control is shortterm rates. Theyre losing control of that. The china bubble bursting further and especially when it starts to hit real estate harder and in the United States, i think this fracking bubble is going to be the first thing to go without quantitative easing these Energy Companies would not have been able to borrow at junk bond rates, 5 to 10 and normally 8 to 10 and oil prices wouldnt come up. Weve said the frackers are dead and will have to default, the biggest one, you need oil prices to keep falling. So oil prices have bounced we said low 60s and 70s and retreating again. We get back down into the low 40s and the bond markets before i let you go and hopefully next time talk more about the demographic issues i dont think those have kicked in yet. Eric bolling on yesterday saying cheap oil is the thing that will save our economy, but you think its the exact opposite . No, because its going to trigger a debt crisis here, yes its good for the consumer, but it hasnt done much for them regardless. Consumers are tapped out and so this is not going to turn around the consumer and the demographics get bad, especially next year charles. Charles great, buddy, at least youre in tampa to weather the storm in a cozy way. Well talk to you soon. If you watch Varney Company and the rest of fox business for that matter you would have known that china was the biggest story come intoing this week and bigger than greece. Now look at what its doing to the markets today. And lets bring in mary pan Liz Macdonald and mary you lived in hong kong for a long time. You understand the mentality out there. We have a lot of people coming on saying that the chinese leaders dont understand the Chinese People. I kind of find that interesting. To the harrys point the notion that he can this control or manage that. I was there when the markets crashed and what people dont realize in this country, china did obamanommics on steroids. They did the fiscal stimulus in the United States and the money went three place, under the mattress, it went into stocks and it went into property and weve seen basically, this bubble inflate in property and in stocks and now youre seeing the deflation. Ultimately, china is a developing economy with a very immature Financial System and they just dont want to take the steps that they need to take in order to allow the stock market to be based on real valuations. Right. And not essentially on gambling, which is how the Chinese People do it. Charles every country wants that. No, but china is different because remember, china is a one hadden party state. They have a lot of capital controls and you see a lot of distortions in the marketplace. Thats a big issue, its not something they look like theyll liberalize or fix soon. Charles all right, guys. Much more on china and the markets in a moment. We have to talk about Hillary Clinton because she gave her first televised interview since her campaign and she went on the defensive. Listen to this. I think when your subjected to the kind of constant barrage of attacks that are largely fomented by and coming from the right do you bear any responsibility . Well you know i can only tell you that i was elected twice in new york against the same kind of onslaught. This has been a theme thats been used against me and my husband for many many years. Charles joining us now is the author of clinton, inc. And he joins us from charleston south carolina. All right, daniel not necessarily a surprise shes blaming the right and playing the victim, but on the one hand what got her elected. Whats in you about the hillary running for president . There she goes again, the vast right wing conspiracy. The truth is not much is new. Shes using the play book that the clintons used for a very long time especially Hillary Clinton consider yourself the victim which she did well yesterday. Blame everybody else, but yourself, she also did. Say everything is a lie and sort of stand your ground and blame everybody else, but, of course, yourself. She didnt what i found strange was not her interview, which i think was somewhat predictable and soft, what is different is that she was panned called her russe and one said she looked scared and frightened to answer questions and even the daily beast called her playing the victim card. I think that people are not as accustomed to it these days and less likely to take it and to take her stand and say, okay fine, we can live with a politician who does this. In these days we try to value authenticity and i dont think that came across at all. Whats the game plan for Hillary Clinton . Its emack. It takes time for narratives to take hold. The email story is toxic. Trust us, but dont verify what they did with the servers, is this laying the ground for 2016 . A negative narrative is bad for Hillary Clinton when shes neck and neck with Bernie Sanders in New Hampshire and iowa. They never wanted the coordination so they wanted bernie to rise a little so they can pretend they have a real primary and Bernie Sanders is a real candidate that they have to be scared of 73yearold socialist from vermont. It helps a little as long as he can rise without overtaking them. I think shes playing it week by week month by month. Next month is august she wants to go on vacation to the hamptons probably. The last couple of months shes been riddled by scandal, the last couple of weeks have been somewhat quiet so answer some questions and allow the scams of the past to rest and move on. Charles hopefully cnn, if she had a tough time with that interview maybe americans will get answers when she gets tough tough questions and actual debates. Thanks, we appreciate it dan. No problem, she should come on here anytime, right . A lot of fun. Charles its an open invitation, thanks buddy. Thank you. Charles were following the breaking news story, had it moments ago, all United Airline flights are grounded and this is nationwide. Right now take a look its live to the international airports. Those planes are going nowhere right now. The f. A. A. Says if this were a technical blitz, what does that mean . Were talking all flights and airplanes in the United States are grounded on a Technical Glitch . No word when theyre going to resume. Well obviously be on it for you. Microsoft announcing 7800 layoffs mostly in its phone business. Check out shares of microsoft relatively unchanged and maybe more less throwing in the towel on that phone business and were all over china for you pan how the problems over there are affecting your money, your 401 k over here. A former partner and critic joins us. Disney will have that star wars gravy train for a long long time. And equity ready for a prequel featuring my favorite han solo. Were going weak into the open. I earn unlimited 2 cash back on everything i buy for my studio. And that unlimited 2 cash back from spark means thousands of dollars each year going back into my business. Thats huge for my bottom line. Whats in your wallet . Do you want to know how hard it can be to breathe with copd . It can feel like this. Copd includes chronic bronchitis and emphysema. 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Major airline is grounded they say due to a technical issue. All flights all have been grounded at this moment and we have a breaking story for you. This one from microsoft. They Just Announced theyre going to layoff 7800 people there mostly in their phone business. Checking the shares of microsoft relatively unchanged, but major, major, almost 8,000 people this morning without a job at microsoft. Now lets take a look at dow futures. Down all morning long. Down as much as 200 in the best Case Scenario moving ahead of the opening bell and the main reason why, another stock selloff in china, its going to hit our markets big time when we open in less than 15 minutes. On that note bring in former Goldman Sachs partner, peter, the author of american mojo, and you wrote a best selling novel with china and i cant say the name of it on air. You were aware that china was eating our lunch, so to speak, is this a reversal of things or if you look how china differs from our market it tells the whole story. There are about 90 million accounts in china. What does it mean . It means there are only 88 Million People in chooirn in the country are investing. What theyre trying to do is you say you have to behave differently. Who is you . I think if youre you cant air brush the communist party out of the market as much as you tried. This is as much of a controlled situation as you can have. What theyre trying to do restore order. You have 90 people who invested and the scary part ask you why, why open up the markets to you will an of these people and why entice and invest in the market. Last month, 1. 4 Million People new accounts every single week in china. Mostly illiterate people buying stocks. Why would the communist government allow this in the first place and knowing some form of history at some point coming to Something Like this . Its a great question. First of all, the shanghai market was open in 1990. This was a relatively immature market. When you have winners and a market thats gone up in 12 months its hard not to what do they get from it the same thing that the Federal Reserve has here wow, im up beg in the market ill go out and buy a car. You hit the nail on head. The wealth effect that theyve created. What china is trying to do is create a robust middle last like our own and its not easy to do. And theyre trying to shortcut it and state media literally pumping up the stock market. Charles do you think its a mess take to plow hundreds of billions or maybe more to keep this propped up or just let it fall . Because thats one of the realities of investing, too, at some point. The order is going to come one thing happens, of the trillions, a lot has been borrowed, margins up 400 and that has to be cleared out before you go restore order. Peter great book we want you to come on got to get back to this awe United Airlines flights are all down because of quote, connectivity issues. Well have more on that when we come back. So youre a Small Business expert from at t . Yeah, give me a problem and ive got the solution. Well, we have 30 years of customer records. Our cloud can keep them safe and accessible anywhere. My drivers dont have time to fill out forms. Tablets. Keep them all digital. Were looking to double our deliveries. Our fleet apps will find the fastest route. Oh, and your boysenberyy apple scones smell about done. Ahh, youre good. I like to bake. With at t get up to 400 dollars in total savings on tools to manage your business. Get excited for the 1989 world tour with exclusive behind the scenes footage all of taylor swifts music videos interviews, and more. Xfinity is the destination for all things taylor swift. Weve got breaking news for you from the new york Stock Exchange. Theyre investigating a major problem with some tickers. Nicole petallides is on the floor give us details if you have them. So its not a regulatory i understand im gathering information for you as we speak you know and got to bring it uptodate. You have to investigate what they really mean so were talking about 220 symbols, the investigation that the nyse is doing right now. Theyre responding into the gateway connection affecting the symbols and the names we are waechg include macys Las Vegas Sands, capital one financial, there will not be a regulatory open and may not trade here at the new york Stock Exchange. You may see some of the names delayed on the open as we hit 9 30 which is only five and a half minutes away. Charles so nicole youre saying that even though theyre having trouble, and tr