Transcripts For FBC Varney 20240705 : vimarsana.com

FBC Varney July 5, 2024

President biden. In it they describe biden as being sharp, fit and having striking stamina. Okay. Were going to take that one on. Meanwhile, former twitter Ceo Jack Dorsey endorsed robert f. Kennedy jr. And he wants to see primary debates and guess what hes predicting that kennedy will win the race. Well talk about that. Former fbi director james comey bashing President Trump and proving people are right to be concerned about partnership in our government agencies. Comey claims trump could be wearing an ankle monitor while accepting the gop nomination. Well tell you what he said also about biden. Lets take a look at oil. Big story this morning, jumping after saudi arabia Cutting Oil Production by a Million Barrels a day. That could mean of course higher prices at the gas bump, Oil Moving Higher there it is up 2. 5 . Lets take a look at the futures as the trading week kicks off with a nice rally at the end of last week. Today its all very muted a mixed bag the dow slightly down, s p slightly up and the nasdaq slightly down, so there you have it very mixed. Apples Worldwide Developers conference kicks off today expected to launch their first major product in nearly a decade were going to tell you what that product is. Yes, it is monday, june 5, 2023. Varney company is about to begin. Lets get straight to it. A quiet sunday afternoon, in washington d. C. , was disrupted yesterday with a loud sonic boom good morning, lauren simonetti. Take us through what happened. Lauren good morning, ashley. First just listen to what that sonic boom sounded like for people enjoying their lazy sunday afternoon. [loud boom] lauren Lucas Tomlinson confirm ed it was two f16 fighter jets dispatched from the National Guard. They scrambled to supersonic speeds to figure out why a private plane entered d. C. Restricted air space. That private jet left tennessee. It was headed for an airport on long island but then took this erratic uturn and ended up over washington. The pilot was unresponsive and eventually his plane crashed into virginia. It was not shot down. I do want to clarify that and unfortunately, ashley, there were no survivors. Among the dead the owner of the planes daughter and two yearold granddaughter and no word yet on what happened to make the pilot unresponsive. Ashley oh, dear. All right, lauren, thank you very much. Take a look at this piece now, from the New York Times. It says, the two joe bidens co exist in the same president , sharp and wise, of critical moments the product of decades of seasoning yet a little slower and a little softer and a little harder of hearing little more tentative in his walk, a little more prone to occasional lapses of memory in ways that feel familiar with anyone who reached their ninth decade or has the parent who has reached their ninth decade but does that person really should be the leader of the most powerful country . Its a good question for charlie hurt. Charlie good morning. Critics called this police slob erring and embarrassing. What do you make of it . Yeah, i think bud light and target are higher than the New York Times as their pr department. They would probably fix all of the problems they face these days but honestly if you were from mars, and you landed on earth and you saw the most powerful country on the planet was lead by joe biden and you would scratch your head and wonder how on earth did this guy become president of the United States, and then you could show them this piece from the New York Times, and then you would understand exactly how this guy became president of the United States. It is a disgusting and dangerous whitewashing of the problems plaguing President Biden, but it just goes to show the lengths to which people like New York Times and a couple of the reporters on this piece are people that have been covering washington for decades. Ive known both of them for a very long time. They are very seasoned reporters they have covered the white house for a long time but this is how completely dedicated they are now to partisan politic s, and to sort of air air brushing somebody, the president , in order to protect him and i think it also underscores the degree, the lengths to which i think the New York Times will go to in order to keep him in the white house if the alternative is somebody they dont approve of and in this case, donald trump. Ashley right. All right, next one for you, charlie. Its not just the media whose trying to defend biden from criticism. Federal democrat jamie raskin trying to down play concerns about bidens age. Listen to this. I think that joe biden rightly says that he has grown very wise in his many decades in Public Office and i respect that , so i think that he deserves to be judged by the results of his administration and what hes gotten done in terms of a bipartisan infrastructure law that inflation reduction act, lowering Prescription Drug prices. Really thats what should matter to us as the people. Ashley charlie, congressman raskin says we should judge biden on the results hes delivered. How do you respond . Oh, i think he will definitely be judged by the results that he has delivered but you know whats interesting about this is no amount of spin from jamie raskin or the New York Times can cover up what people know and feel and thats whats so damaging, i think, for the Biden Administration about that fall at the air force academy. It happened live on television. No matter how much many in the media will try to suppress that, and keep people from see ing that, the world saw that and thats an indelible thing that people will remember and it goes to his age but also in terms of the results of what hes produced people feel it every time they go to the gas pump and the Grocery Store and joe biden will be held accountable for that. Ashley all right, well leave it right there. Charlie hurt, thank you so much for being with us on this monday great to see you. Ashley always appreciate your input. Yup, thank you, charlie. Former fbi director james comey is giving his two cents, you could say, on the 2024 race. Lauren, we know hes a never trumper no doubt about that but is he willing to support a different republican candidate . Lauren not a chance he is biden or bust and here he is saying so to jen psaki on msnbc. Youre a republican mast of your life and you may still consider yourself one but voted for biden in 2020. Do you intend to vote for him again or is there anyone on the republican side you might consider if its not trump . It has to be somebody committed to the rule of law, committed to the values of this country, and im not talking about policy. People can disagree about policy the president must be someone who abides the law in our constitution, and theres no one else but joe biden. Lauren yeah, not sure the democrats want him as many still believe hes reopening of the Hillary Clinton email investigation two week brass the 2016 election gave the victory to donald trump but thats if you want his two cents thats what comey has to say. Ashley we hear it. Also, staying on 2024, lauren, elon musk is going to give Robert Kennedy jr. A plaque form for his campaign against biden. Do we know where thats happening . Lauren twitter spaces today at 2 00 p. M. Eastern time and hopefully no glitches and more americans can hear from a biden contender since biden wont debate them and this the twitter cofounder jack dorsey publicly endorsing rfk jr. For president. His announcement here, he can and will, also shares his interview that rfk jr. Did with fox in it rfk jr. Stresses that biden should debate him and other democrat opponents to better prepare him to debate the republicans. Its prep work he says. Ashley its what democracy is all about. All right, lauren, thank you very much. Lets take a look at the futures , at the top of the show there a little muted today after a nice rally to end the week last week. Guess whose here . Our great friend jeff sica. Jeff i was looking at nvidia which is i guess one of the most prominent plays for the a. I. Sector if you like because everyone is talking about Artificial Intelligence. Its up 169 yeartodate. Is this a bubble . Well, i would say, ashley, ive owned this stock. Ive been talking about this stock for years on the program. Right now, it is consuming the rare air that only amazon is in with the trillion dollar valuation and again, theyre capitalizing on the frenzy for anything related to Artificial Intelligence. It happened before with netvidia when their market cap doubled during the cryptocurrency surge, doubled and then cryptocurrency cooled and declined 48 and what i think we have with netvidia is a very very good company and a company that will capitalize on Artificial Intelligence but what we also have is we have unrealistic expectations. We have a stock thats priced to perfection. I think they have a good future ahead of them but i would really warn your investors out there, ashley, to not chase this stock. Its not going to holdup the way some people think it will. Ashley do you think, jeff, investors are ignoring some of the warning signs . Look the u. S. Economy, the jobs report, very resilient but core inflation still, you could argue, perhaps stickier than expected. Are these things that investors are ignoring right now . Yes, ashley. What i would say is ive used this obscure song lyric from sound garden that the markets are looking california but feeling minnesota, so were supposed to feel good about the jobs number. Were supposed to feel good about the supposed end of the bear market, but theres a lot on the horizon. Even look at the market rally. The market rally has been seven stocks. Its been 1 of the s p 500. This market has the worse breadth than any market that ive ever seen and the divergence between the very big stock and mediumsized stock s is greater than its been in two decades so i would really hesitate and celebrating or feeling really good about anything right now. Ashley a very cautious jeff sica this morning we appreciate it, jeff. Always coming in with some very honest comments, as always, jeff , thank you very much. Coming up, by the way, has President Biden moved too far to the left . Well West Virginia senator joe manchin thinks he has. Listen to this. Not ready to sign off that joe biden has been moving to the middle. I think that joe biden, thats his inherent who he is. Hes been pushed to the far left and that far left has not basically where the country is. Ashley well, the question is, is that why jack dorsey is endorsing robert f. Kennedy jr. . Interesting isnt it . Well get into it. Migrants pouring into new york city but the big apple still has its sanctuary city status so the question is will this problem ever end . New york congressman Claudia Tenney will take that on and more next. Fisher Investments its easy to think that all Money Managers are pretty much the same, but at Fisher Investments were clearly different. other money manager different how . 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Absolutely, and this is insane. 40 Million People have gas stove s. I actually am not one of them, but i think my new home that im moving into does have a gas stove so im going to be cutoff because of this crazy law new york state is now run by hard left democrats one party rule, and they cast this extraordinary bill, which is, i think, its not just about gas stoves. Its banning the use of fossil fuels which is new york state is so dependent on especially in update new york. I look at the energy grid for the United States. 60 is still relying on fossil fuels. The other 19 is nuclear, so all the Nuclear Power plants in the state of new york are in my district which are going to be mandatory for providing base load power because wind and solar are just not reliable, they arent cost effective, and they arent going to get us through the cold winters and not heat our homes the way that it needs to be not to mention we dont have transmission lines but i think the gas stove issue just hits home to most people, because it literally gets to your everyday life of just cooking in your home. Ashley exactly right. I want to move on to this subject obviously a big talk. New york city mayor adams made a surprise visit to Migrant Center s to check in and make sure everything is okay but how can he complain when new york city has always touted itself as a sanctuary city. This is reality right . He really cant complain because not only is new york city a sanctuary city. Theres numerous cities upstate and also remember, they wanted, kathy hochul the governor wants to put a lot of these migrants into colleges, State University and new york system at the expense of the taxpayers on the state level , and the local governments are going to have to fit the bill. Think about how dangerous that could be. I say, and former governor patterson criticized adams for not being ready for this although im sure he probably supports the sanctuary policy. This is really unfair to taxpayers all over the state, but think about this also. We have a lot of colleges who only take a small fraction of state funding, usually, and some federal funding through Grant Programs and scholarships. Think about how many of them are sanctuary colleges. Why arent they with their method endowments and big private colleges wellregarded Ivy League Colleges in new york maybe they should be helping the taxpayers of new york by taking these migrants. Honestly id rather see us not have this policy because the cartels are controlling. I have the northern border, part of the northern Border Security caucus, and this is like, this is a major issue for us, because we are, you know, we have people coming through our border because of the stress at the southern border. Ashley yeah, its beggers belief is the only thing i can come up with and these migrants are they properly vetted . I dont think so. Well leave it there but congresswoman claud a tenney great stuff as always thanks for joining us. By the way staying on the migrant

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