Transcripts For FBC Varney Company 20140815 : vimarsana.com

FBC Varney Company August 15, 2014

Theres more. The treasury says it is collecting more tax money than ever, tax and a record high but the deficit close to half a trillion dollars a year. You dont like that either. One more headline. In the obama years government has spent more than households earned. Only weeks to the election and that is the backdrop. Voters not happy. Government starting to play defense. Stuart reports of the military engagement send the dow down 60 points with an update in one moment but look at that poll. If you give a message to the federal government, 59 of you would tell the government please just leave me alone. Forbes media editor in chief steve forbes is with us. I just said that that to me amounts to a repudiation of the president s all government all the time policy. Am i going too far . Probably not far enough. The fact of the matter is the failure of obamacare, the huge markup they had in introducing it, the fact that millions of people lost their policies are having to pay lot more for a lot less, the va scandal and the feeling of receive even though that doesnt directly impact people at home yet they feel things are spinning out of control. Government cant do it. Stuart does it point to change of political, not leadership but a change of politics . The senate goes republican, th majority in the house come november . That is locked in . Nothing is locked in in politics especially involving republicans, they wonderful knack of snatching victory defeat from the jaws of victory. They did in 2012 and have done it before but the fact of the matter is i think youll have a huge swing in the senate, gains in the house and the president has to decide what does he want to do for legacy in his last two years. Stuart a republican congress. Could it change the basic policy . Could it reverse all government all time . Could it . It can stop the events of all government all the time setting with the regulatory agencies. I think they will go after the epa, pursue the irs scandals. You dont mess with the American People using a powerful agency to suppress political dissent in this country. It is going to be very interesting. Stuart more on the irs scandal coming up. That is politics, that is policy. Look at markets. There is a report Ukrainian Forces attacked that russian truck convoy. That sent the market down. We were up 50, now we are down 46, stabilizing a little but look where the real action was immediately we got the news of military engagement in russia and ukraine. Look at that. 2. 32 is the yield on the ten year treasury. It has come way down. There has been a rush to what i call the safety of u. S. Treasuries, up goes the price, down comes the yield. Long time since we have seen 232 on that treasury ten year bond. Am i making a mistake again . Am i saying it is a rush to safety . Am i right . The default position even though the u. S. Has done harm to its own economy, that monetary policy. When the chips are down you go with the Biggest Country around, deepest Capital Markets in the world so you pile into treasuries. When we get a report from the Ukrainian Military spokesman who says the russian convoy was attacked on ukrainian territory and partially destroyed. That was the report we got 20 minutes ago. Im surprised at how mild the reaction of the markets have been because Vladimir Putin has been looking for a pretense to do more military action in ukraine. Already even before the troubles in ukraine and what russia did to crimea the western european economies are petering. Italy is in recession, france in recession, germany has slowed down. The only bright spot is the u. K. Stuart that was the convoy you are looking at prior to this reported attack. Still with the markets does the name george soros mean anything to you . He is making 1 billion bet on the markets heading south. I believe it is a 2 billion bet. Charles payne is back just in time. I dont like his politics that he has proven to be a savvy investor and he is saying this market is going down and you say what . I was talking on my show about a guy who predicted a crash in the next two years. Over a 7 year period from the beginning of the bull market over 7 year period we are going to crash typically bear markets happen every three years so this is not one of the search shattering things and to your point he has been very successful but not a day trader. He doesnt fund these positions to work out tomorrow. Will the market pullback . Yes. Are we ever do for a bear market . Yes. They come but i dont know if my own Monster Energy drink wouldnt sell today. Stuart if you want an index fund, the track, the broad average of the s p, you still holds, you wouldnt be jolted into a cell from george soros . Charles we were already be jolted into a sale. Usually can move markets. This guy destroyed the british pound. I didnt want to bring it up. Stuart he made 1 billion pounds profit betting against the british pound back in charles 1989, 1992. He took advantage of the British Government destroying the british stuart show me the market again. Dow jones industrials down 70 points. Let me tell you the swing here. 20 minutes ago the dow industrials are up 50. Now we are down 64. There is a report the Ukrainian Military forces attacked that russian truck convoy in ukrainian territory. The Ukrainian Military spokesman said it was partially destroyed. No confirmation, just the report. You are going to comment on of charles pick. Moving to alltime highs, 30 at the moment, 93. 48. And this is a great pick. And the energy drinks, you have cocacola now taking a 16. 7 stake, 2. 1 billion deal, analysts are loving it. For monster, 80 of their sales are domestic. They think it is great for the international presence, distribution of coke, it will build their volume globally. It is a win win and monster has two, not just energy drinks. Stuart lets leave time for charles to take another victory lap. Stuart they are not a soda company any more. They are not. Hold on a second. And coconut water, they have honesty, smart water, minute maid of o. J. Vitamin water, that is a short list. Charles they probably should have been diversifying even more. One reason i stuck with this, coupled downgrades, last, mentioned in your show was in june, they are carbonated, poor or business has crashed. For a long time people made the switch from regular soda to diet soda, making money hand over hand. A revamped this company. This is a move in the right direction. They have to keep doing these things. Stuart they have been literally disrupted in the last halfhour, and the Ukrainian Armed forces tracked russian armor as it crossed the border. The ukrainians say was partially destroyed, that sent the stock market down. It sent bond prices straight up. The yield on the treasury down 2. 32 . That is a flight to safety. Totally different story. Football, football, real football in china. We have a guest on the show, marty judge who put 10 million of his own money into making football in china a reality. Listen to what he had to say. I have been over there two years selling it to china. The firstever professional Football Game played in november next to the birds nest, we had 10,000 people, the place was packed. We had a young boy steal the football away they do in the United States. They need a contact sport. Stuart steve ward still with us. He had an oped piece on his web site. The call marty judge, called him extraordinary. We had him on the show yesterday. You saw the clip. He has the rights to all indoor football in shy and the sponsorship of that, paid 10 million for it. Took a lot of hard work, even though he has an agreement, to get this thing going to get six or eight teams going in 2015 but clearly he has the drive to do it, the horsepower behind him and he is thinking big, hes not talking about six and eight teams to kick this off the theory seems allaround asia. China has 1. 4 billion, we have 320 Million People here. Huge opportunity for growth and one thing he has realized this with arena football you get higher scoring, more action so he thinks that is going to be more appealing and we may take a page from that here because in the american football the action is only a handful of minutes for the 30 hours youre watching the tv set. Charles some had financial problems which i found interesting. I wish i had gotten in on it. Stuart why is it when you guys talked to me about football you always say american football . Everybody understands we are talking about. Miley judge is looking to be bought out by chinese billionaire to own a sport or a team or two, that makes a fantastic investment. When used with six eight teams, we have 40 teams in the continent of asia, huge opportunities to existing notice to get cash in, still own your team. Stuart one american, all good. We are down 39 points. Now we are down 37. Russian armor crossed into ukraine. Ukrainians engaged it. We are down 35, that is pretty much stability. Ever so slowly, they are getting out the truth in the irs scandal. Federal judges demand investigator, where are those emails, lois lerner emails . We will deal with it next. When the world moves, futures move first. Learn futures from experienced pros with dedicated chats and daily live webinars. And trade with paper money to testdrive the market. All on thinkorswim from td ameritrade. No question about that. But your erectile dysfunction that could be a question of blood flow. 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Ask your doctor about cialis for daily use and a free 30tablet trial. Stuart dow industrials of their low of the day coming out of that reporting ukraine, Ukrainian Forces attacked a russian convoy that crossed into ukraine destroying part of the. Waiting for confirmation that that did indeed happen. This is not stabilizing. We are way down, the yield is way down, the price is way up, we have a flight to safety in the ten year United States treasury bond. Stay on the markets. Charles payne in with another pick. He liked j. C. Penney. It was up recently. It is down 2. 5 , Charles Payne is here, still sticking with it. Charles a big spike after the close. They beat it down, they have a tremendous position in this, they cannot afford to lose out. Dont keep beating down as much as they can happen at some point to stub their toes because no recovery goes smoothly but you got to give kudos to the management team, they have done an amazing job when everyone had a long deathwatch four five months ago. Stuart are you referring to me . I did, i think. Charles at 4. 90 a think it does. Stuart mike bowman has taken over as ceo. Very very sorry. 30 seconds, three friday headlines, billionaire environmentalist times tire promising 100 million to democrats if they push his Climate Change agenda but those democrats are pushing back saying back off, you will get my take on that at the top of the hour. Clinton, doug shoen, on Marthas Vineyard after hillary had hit out with president obama. Is looking for a job with the clinton 2016 team. Then theres this question. What did fox and friends host Brian Kilmeade say to put this look on my face. Brian joins the company in the does not describe that look on my face. Modified and surprise would be accurate. You will find out. Lets get the latest on the i r s. This would be good. A federal judge giving the irs over 1 week to supply answers on how lois lerners email for a loss. This is a lawsuit by Judicial Watch. The federal judge said i am going to appoint an investigator. Lets get to the bottom of this. It is an Extraordinary Court action. We had fought these irs documents, lois lerner emails, we find out after the fact that they have been lost. They didnt tell the court, the court held a hearing and told the irs you need to to give me information under oath about what happened in the emails and what steps you are taking to retrieve them. They made that filing earlier this week. We said it was a joke. They dont care what the court wanted. They didnt give out any information, it was contradictory. But the lot of gaps and knowledge. When an extraordinary step, without any prompting from Judicial Watch issued an order late yesterday telling the irs you have a week to provide more answers. On top of that he has already appointed a federal magistrate judge to oversee discussions between Judicial Watch and the irs about the list where emails at who knows what other computer documents, emails that have been lost. Stuart things are building up here and there is a limit to how long this judge will tolerate the ongoing stonewall from the irs. Looks like you are close to a breakthrough of finding out what happened to those emails and can we get them back . It is easy to Stonewall Congress but you dont want a federal judge suspicious of you. I have been in Judicial Watch for 16 years. We File Hundreds of freedom of information act cases. There is nothing like this that i remember ever happening, a judge acting on his own like this. Stuart there is no when ever had such a big deal as this. We are looking at the potential of interference with a president ial election in the government agency, maybe or maybe not, that is where were trying to find that at the instigation of the white house and the campaign to reelect the president. The stakes are enormous. They are. We already have evidence democrats are pushing the irs to go after opponents of president obama. We know about prosecuting the same groups they were suppressing that law was lerner was in contact with other ther than the department of justice and now we know two years of emails of this appeared. There is a report the other day about how 20 officials email and disappeared. How many thousands of emails disappearing equate to the equivalence of the 18. 5 minute gap in the nixon tapes . There is that massive ongoing here, the court filing with the court by the irs shows they really dont want anyone to know what is happening and the court is it is finished in terms of patience to distract information from the irs that is completely stonewalling the American People. Stuart to you think we will get the truth before this novembers election . Not if the irs has anything to do with it. This course and this case is the best way to figure out what went on in terms of the destruction of key evidence in the irs scandal. Stuart thanks very much for being with us. Keep us uptodate on what is happening here. Update quickly on the situation, the stock market and the bond market straight up. And they engage this truck convoy. The russians say the ukrainians are trying to stop the delivery of humanitarian aid. It is a standoff between the two sides. Trying to figure out what happened, how many shots by home or rabbi what. No confirmation from independent sources. The dow has stabilized to some degree. And you have a swing of 130 dotes on the dow, on this program we heard from a ceo of a company who offers his employees 7,500 for unlimited vacation. Go take a vacation and here is the money. Charles payne arguably the hardest working man in television, hardly ever takes vacations, how would he react to a company that forced him to go on vacation . That is what we call misguided heroes in jerome. Your absolutely than necessary because you are not. 9m speed to the great employee eve. I am very, very this. To work, that is what we call misguided hero syndrome. Stuart can you believe that . He forces his employee to go on vacation and pays for them. Would you go on vacation and if you did, would you unplug . I would go on vacation and take the family. I try to do sneaky things. If i have a speaking engagement, i will take them. I would never disconnect. Absolutely not. I would try not to look at my phone, but i would not totally disconnect. Charles how do you like being called not rich and now being called not significant . [laughter] stuart i have another retailer in the red. Nordstrom. An all stock purchase. It is a mans clothing company. Investors do not like it. Then we have samsung. They just bought smart things. You can control everything with your smart phone or your tablet. Jo ling kent is here. She apparently agrees that we should all control our homes from the internet. I think it is a very interesting proposition. They are all partnering. They are all acquiring these big companies. They raise more than a million dollars. Stuart now two belgian dollars buys them out. That is exactly correct. May be turning up the heat a little bit in the winter. There are a lot of concerns. I like and on off switch. So many times when it goes down, then what do you do . You probably need an extra backup. Stuart do not get sarcastic with me. This is a big deal. Charles i was there when they went from that advocates to the laptop. Stuart jo ling kent, thank you so much. Sunscreen. We are years behind them on the issue of sunscreen. Yes, it is friday. We will have this next hour. New headphones from intel. That is Wearable Technology. Hard it can be. How. To breathe with copd . It can feel like this. Copd includes chronic bronchitis and emphysema. Spiriva is a oncedaily inhaled. Copd maintenance treatment. That helps open my airways for a full 24 hours. You know, spiriva helps me breathe easier. Spiriva handihaler tiotropium bromide inhalation powder does not replace rescue inhal

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