Transcripts For FBC Varney Company 20131213 : vimarsana.com

FBC Varney Company December 13, 2013

For people who may or may not be covered and the white house launches a Desperate Campaign to sign up youngsters. Stocks, they will stage a modest bounce today and Varney Company is about to begin. Hi honey, did you get e toaster cozy . Yep. Got all the cozies. [ grandma ] with n fedex one rate, i could ll a box and ship it r one flat rate. So i kn untilt was full. Youd be crazy not to. Is tt nana . [ male announcer ] fedex one rate. Simple, flat rate shipping with the reliability of fedex. Who found a magic seashell. It told him whawas happening on the tradg floor in real time. The shell brought him great fame. But then, one day, he noticed that everybody could have a magic seashell. [ indistinct talking [ male announcer ] right there in their Trading Platform. [ indiinct talking continues ] [ male announcer ] the magic shell went back to being a. Shell. Get live squawks right in your Trading Platform with think or swim from td ameritrade. Kathleen sebelius quietly extending the deadline to purchase insurance, changing the rules as we go along. She will demand that insurerr continue coverage and january the 1st for people who select a plan by december 31st, yes, that means force them to cover people regardless of whether they have valid coverage or not. Thats chaos. And the pr push to get youngsters to sign up. Thats in full effect. Enlisting celebrities like people magazines sexiest man alive adam levine to help him sell the plan and making a rap video yo to raise awareness with young people. Amateur hour, president obama tweeted out a picture of him holding a sign with a saying get covered. And they photo shopped it and retweeting the doctored images. The term afluenza they used for a teen, coming for young people from rich families, his sentence ten years probation and last night megyn kelly spoke to the man who lost his wife and daughter. There are no doubt that the victims families thought the prosecutors did an outstanding job until i heard that term. Affluenza, i had no idea it would bear on the lack of sentence. Stuart well, this is a financial issue, actually. And we want to know what you think of affluenza. Well read your responses. Amazon the most Innovative Company in the world and at it again. Well tell you what theyre doing now, a small bounce for stocks and watch it happen moments from now. [ male announcer ] if we could see energy. What would we see . The billions of gallons of fuel that get us to work. Wed see all the electricity flowing through the devices that connect us and teach us. Wed see thatlmost 100 of medical plastics are made from oil and natural gas. Anan indtry that supports almost 10 million americanobs. Life takes energy. And no one applies more technology to produce American Energy and refine it more efficiently than exxonmobil. Because using energy responsibly has never been more important. Energy lives here. Range. I dont like it. The feds are clearing a hurdle to allow you to use your cellphone on planes. I have a rant about that at the end of the hour. Stay tuned. Lets go to chicago and bring in their 11 larrylevin. You cannot mention the fed. Scott kennedy tried this, failed miserably. You try it. Free easy. No problem at all. Down three days in a row, very rare to be done four days in a row. Stuart is this modest correction we saw this week over . For shortlived is over but there will be lower prices if not next week then certainly january we will test lower than we are now. Stuart still looking at 17,000 next year . Absolutely. I know i am not allowed to say it but someone will do something about it. Those people will face quite a bit if they have to. Stuart you won unchallenged. That was very good, larry. We are up and running and we are ever so slightly higher. We are a a points but look at that level, 57. Watch out sams club, costco, amazon, launching a new business that will sell things like cleaning supplies, for pet food amazon prime members selling in bulk. Mike robinson joined us from san francisco. The stock is up again today, 385. I am saying amazon is the most Interesting Company in the world, the most innovative. What say you . I have to say jeff besos is one of the best innovators of all time, constantly looking to a cell, crossland brilliant at logistics and this shows how good they are at topselling and logistics involved in making money and the ecommerce business. Stuart you said apple would go to 1,000 a share. I knew this would come up. Stuart when you are a big hit with shareholders. How about amazon . It had a fantastic run. 8 run 5 billion in operating cash flow so eventually when the bill out ends it falls to the bottom line and i think for the long term i would be bullish on amazon. Stuart stay right there and i will get back to you on another subject. Adobe, good numbers for the clout business. A lot of people signing a. What is the Cloud Business . The clock is where you can store photos, digital documents. For adobe you can download the companys Software Like photoshop. Taken up on your personal computer. The stock is up 10 . That is a rally and a half and we will talk to the top financial guy in the next hour. Bigname you know, ford, 11,000 jobs next year, rolling out 23 new vehicles. Why is the stock only at 0. 13 . Nicole do people not understand this could be great for ford . They want to see what the vehicles are about . It seems like a wild card a little bit. How much lacoste . Alan mulally, he wants to leave with the major legacy. This is the biggest rollout in the 110 year history of ford so talk about 23 new models, 11,000 workers to be hired, 5,000 in new york, 6,000 in asia. Stuart ford stock only at 0. 13 on that. Back to you shortly. Bring back mike robinson. Looks like a modest bounce today up 21 points as we speak. I want to know when we will go back to those winning ways. Tell me. When will we hit 17,000 on the dow . Next year for sure. Looking for a big year. The economy underlying has a lot of strength. Look at the real economy, lumber sales up, prices up in lumber, cars selling like crazy, looking at 16. 5 million run rate in automobiles, the underlying economy wants to get healthy. The average car is 11 years old, people got to buy new cars and that will help the tech ecosystem and the market. Stuart you save the economy is Strong Enough to withstand less money printing by janet yellen and the market will go on as a reflection of the economy, not printing money . Absolutely. There could be shortterm a slight correction, modest decline. We are caught in the excess reserves trap. They are putting money in the banks but it is not getting into the economy. The velocity of money has slowed down. One of the problems the fed has, cant do much about it. The underlying economy is helping itself. Americas economy if left alone is the best, most healthy, self correcting economy ever in the history of the world. Stuart it is not being left to itself, is it . It is not. Politicians love to tinker with things. Stuart it is the major theme on this program. Thank you for joining us yet again. We will revisit the prediction on apple stock. Back to amazon. It is an innovator, the most Innovative Company in the world, clear leader in Online Retailing and the lot else. The ceo of apple metro is with us. You own and run 40 applebys, the except my principle that amazon is the most Interesting Company in the world and the most innovative . I do and i dont. Theyre certainly interesting. The flip side of the coin is they are the most he are sensitive, most pr pieces, i dont know how jeff bezos does that. Stuart he goes on 60 minutes, this claim that he will deliver stuff. Reality has to set in because do we see drones flying all over . Ups wants them and i want to deliver hamburgers by drone. Stuart what Financial Reality do you see hitting amazon . At some point investors will want to see there are 0 of i. T. The tech bubble when everybody was just buying and no relationship between the r o i return on investment and the investment. Amazon is not having the big returns at this point so i might take a contrarian view to what you say. Innovative without a doubt but at some point the cows have to come home. Stuart the return on the investment, you are right, they dont have returned because they keep reinvesting every dime they make goes right back into what they are doing. The market like that. The other part of that, if we do have a dip in the economy, the Affordable Health care act does take a bigger chunk out of the economy, out of the cash flow of the economy and direct exclusively to health care the millionsquarefoot warehouses they are building all over the country it is a great story, quicker delivery, quicker Response Time to help the consumer but if they start having read it you got to pay the mortgage, still got to pay fixed overhead you are putting in place. One thing to be on the internet and not build a brick and mortar. Innovative is both. They got to build a brick and mortar, warehouses at every conceivable light and known to mankind but they have to pay for it. Stuart all our viewers are looking for the next apple. The stock that goes to the moon to a secure retirement and your point, cold water all over it. I am realistic. I just flip hamburgers. I am on some outside boards, oilfield services. What i see is the consumer on the ground. We do 300,000 meals a week. From the guy that has to buy that stuff, i feel and hurting, i hear him talking, for example the expiration of the withholding tax, and 2 . Lets run that number. A guy making 35,000 a year is only 2 , but at 700 for someone making 35,000 a year, at the end of the year he doesnt feel it the first week or the second week or the first quarter. First half. What is happening is there is a softening of the economy. We saw it starting three weeks ago. We were going one direction just like this. All of a sudden it started flattening and now it is starting to go down a little bit. The issue is all these things cumulatively add up. What happens next year with Affordable Health care when people have to reach into their pocket . They were going to buy something on amazon but instead they give it to the government. Stuart when you are putting cold water on just about everything. Trying to be a realist. Stuart you are a valued guest and appreciate you being with us. Back to nicole petallides. Twitter, another new high. Nicole another new high for twitter, up 45 this month in december. Right now it is up 2 , 5643. I know it keeps changing. I have been standing here a few seconds. 56. 69, a big crowd behind me for nimble which is a california company. Ipo today looking higher. It is a california Storage Company so theres a big crowd. Stuart a pretty good year for ipos generally. To the big board as we suggest, very modest bounce and that is all it is, 157 is your level on the dow. The obamacare train wreck rules on. Kathleen sebelius forcing Health Insurers to allow Coverage Even if people havent paid yet. Some would say that is lawlessness. Up next the doctor who is suing over obamacare and the administration hasnt ignored his case. He is with us. announcer at scottrade, our clients trade aninvest exactly how they want. With scottrades online banking, i get one view of my bank and brokerage accounts with one login. 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The price of gold has been weighed down. Now it is up 7, 12. 32 this morning, Restoration Hardware, the cozy e o quick, joining lucky brand. Investors dont like him quitting, it is down 4. 5 . An update on a tour brought you last month, orthodontist sued the government claiming a 1year delay of the employer mandate was illegal and costing him money. The government didnt taken seriously or even bothered to respond to his lawsuit. All right, doctor, judge andrew napolitano, charles kuralthammer saying this administration is lawless. You would agree with that. I want to know if they ignore your lawsuit what are you going to do now . They ignored our lawsuit up until this previous monday, three days after the deadline for four defendant pled to ha responded which was december 6th, waited until december 9th to respond, more of the same, the signature of the reputation of this administration is incompetent. In the process of us examining whether or not they broke the law they disrespected the law by ignoring deadline but it is not our objective to capitalize on their default. Our objective is to move forward and bring opposition to the ridiculous assertions that we lack standing to bring our case which we do. Stuart they did respond on monday of this week, they did respond. Was there a response not that this issue has no standing in this court . The response was irrelevant to what our complaint was. Let me back. To bring a case in front of a federal judge you need standing or show injury. We wrote a complaint, the response had nothing to do with our complaint suggesting i was complaining as a taxpayer. That is not the nature of my injury. The nature of my injuries at lawabiding citizen i had my business vetted by attorneys to make sure we were in compliance with the law even though i didnt agree with the law and a few months later the president decided to move the goalposts and in doing so was saying any money you spend on attorneys you wasted, go ahead and spend it again and he did that not by executive order but by tweet so theoretically everytime he tweets i am supposed to jump and call my lawyers and make sure my business is in compliance with his tweets. Stuart when it occurs to me they have been you. You are going to lose a lot of money on lawyers. You cant take this thing forward and you probably will not certainly wont be able to get this delay of the employer mandate rivers to. You have lost. I would bet the farm on that. We are doing pretty well. The response was surprisingly weak and they can expect pursue in a response from us so the judge can make a decision whether we have standing. Liberty university case, West Virginia state univ. Cases have been dismissed. We feel our standing is and remains stronger than either of those cases. We remain confident we will have standing in front of a federal judge. Stuart who is funding this effort . Wheres the money coming from . Judicial watch is representing in Funding Legal fees and doing a great job. We have a great team of attorneys many of whom were involved with the clinton impeachment. I couldnt ask for more. I am pleased with what they are doing. Stuart lets give us an update where the standing is. Thank you for having me. Stuart got to let you talk on your cellphone on a plane. They are a thinking about it. I hate that idea. Dont do it please. I will tell you why in my next my take after this. So ally bank has a raise your rate cd that wothats correct. A rate. Cause im really nervous about getting trapped. Whys that . Uh, mark . Go get help i have my reasons. Look, you dont have to feel trapped with our raise your rate cd. If our rate on this cd goes up, yours can too. Oh that sounds nice. Dont feel trapped with the ally raise your rate cd. Ally bank. Your money needs an ally. Stuart take a look at yahoo . The stock has hit 40, up 97 this year. Not bent. Adobe a disappointing forecast but good numbers with Cloud Business. We will talk to their chief financial guy, up 10 . What music, Christmas Music do you listen to in your home . In our next hour of music producer joins us to explain why the classics, sinatra, Nat King Cole, they are still favorites. The news museum cashing in on the in darman phenomena in. The government is asking for Public Comment on phone calls on planes. I dont want this and i dont think you do either. Us survey of frequentflier found 78 against it. The problem is very simple. There is always going to be at least one idiot on every flight who thinks there call should be heard by everyone else. A loud voice issues orders. That is the caller who is trying to look like the boss. I am in charge. Then there is the public gossip. He said to me and so i said to her, that is mindless chatter that goes out three rose forward and four rose back and the overworked expression i love you or love you too. Save it, by all means but i dont want or need to hear it. This grant is not over. I fly lot and i like to sleep. I cant count how many times i have been woken up by someone slamming the overhead bin are making loud comm

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